Topic: Can Bitcoin become a daily currency? - page 9. (Read 1405 times)
Bitcoin cannot become a daily life currency even if the fees and transaction time has gone down as it is now. For da to day life use fiat money is the best currency to use, the high value of bitcoin its volatility won't support bitcoin to be a daily life currency. Bitcoin isn't actually a currency it is more of like an asset, an asset which is very highly priced in the market so using it daily wouldn't be a smart move.
Bitcoin is obviously not a currency at present, not because it is not issued by the government or the central bank, but because it lacks the most fundamental general acceptance of the currency, ie it has not become a currency for most people or for most economic transactions The universal transactional media, which means it does not have a wide range of commercial credit.
That is not the main reason. In a few countries (such as Switzerland and Japan), Bitcoin is accepted as a form of legal tender. So you can't say that it is not recognized by all the governments as currency. The main issue is the high transaction fee and delay.
Bitcoin is already been use as a daily currency, as many transactions is carried out using Bitcoin for these transactions almost all over the world.The transaction fees are not too high and the confirmation time on the block found is about 10 to 30 minutes. For those who are already using bitcoin for daily online payments and other transactions, they are already use to the system of payments which on daily bases when they enter into their transactions.The Volatility may be a factor, when it is been use, yet when holders of bitcoin come to the understanding of the Crypto called Bitcoin, it will rather gain more acceptability and Usage as a daily currency as it already have been used.
Bitcoin is obviously not a currency at present, not because it is not issued by the government or the central bank, but because it lacks the most fundamental general acceptance of the currency, ie it has not become a currency for most people or for most economic transactions The universal transactional media, which means it does not have a wide range of commercial credit.
Bitcoin transactions are way slower than other cryptos and fees are high, and when you pay with bitcoin you pay with only fractions of it, so do you think it is possible for bitcoin to become a daily currency? Something you can use to pay for coffee? If no, then what cryptocurrency have this potential?
You mean if Bitcoin and other digital currencies can replace fiat? because paying your coffee using Bitcoin is going to be expensive due to mining charge and transaction flat fees. I believed bitcoin cannot be replace fiat because not all people know how to use bitcoin and fiat or the local paper money is much convenient to use that even the children knows how to use it instantly.
Bitcoin can not be a reserve currency because there is no bond market with Bitcoin ... Gold is the only currency that can compete to become a reserve currency. Bitcoin is an electronic currency and no matter how good the Blockchain technology, it is still hacked. The principle is simple ... any locks, no matter where good security, will be opened. The only problem is time. It just does not open when it's not the key.
Well with that...for bigger transaction I think it will be okay but with smaller items like buying something in the market, in the store like candies, bread I don't think it will enable we will still be needing fiat or paper money or that.. specially when people will just be buying a small amount but then we never know what the future technology-system we might have during those time, but the way I see it we still be having paper money then.
thats true I think we still need to use fiat or paper money. My point of view does not matter using bitcoins for transactions like buying electronics or something. but to use bitcoin on a daily basis. such as buying food and drink, where the frequency of transactions very often it is done of course it includes waste due to expensive transaction fees? 
Well with that...for bigger transaction I think it will be okay but with smaller items like buying something in the market, in the store like candies, bread I don't think it will enable we will still be needing fiat or paper money or that.. specially when people will just be buying a small amount but then we never know what the future technology-system we might have during those time, but the way I see it we still be having paper money then.
Bitcoin transactions are way slower than other cryptos and fees are high, and when you pay with bitcoin you pay with only fractions of it, so do you think it is possible for bitcoin to become a daily currency? Something you can use to pay for coffee? If no, then what cryptocurrency have this potential?
It's likely right now for Bitcoin to become a daily currency because of high fees and long confirmation time. Also because many people consider Bitcoin more an asset and speculative tool rather than a currency.
and i think bitcoin is the solution.
As anything that has to to come into acceptance, it has to go through some challenges, the crypto world is seeing a high influx of people, so most definitely some adjustments has to be made to be able to handle the transactions. Maybe now it cant be used for everyday buying and selling, but its possible it can be in the future.
All I can say is, this could probably be happen if cryptocurrency will become legally issued in your country or even worldwide. This could be possibly be happen bit yes it would under go some challenges. But I would surely that everybody that belongs to this forum and has a bitcoin on their own will be glad to this resolution of bitcoin soon. 
Cryptocurrencies like bitcoin are very unpredictable. "UBS", an investment bank said that it is "highly doubtful" that these will ever become conventional currencies. "The need for companies and individuals to pay tax receipts in government-issued currency, and the potentially unlimited crypto-money supply, pose significant barriers to widespread adoption".
Volatility strips bitcoin of the characteristics needed of a credible substitute currency, making it instead a speculative asset, a get-rich quick scheme.
Volatility strips bitcoin of the characteristics needed of a credible substitute currency, making it instead a speculative asset, a get-rich quick scheme.
personally I believe a day is coming when if don't have bitcoins you will be left behind.
Since it is very convenient to pay with bitcoin, transactions pass like a hurricane's speed and it would be to make purchases and make deals conveniently if not one but. The stability of bitcoin.
With such fees and volatility it can not become a daily currency
Yes, I think it can look at the countries that accept this Internet currency and who are actively using it.
I understand that bitcoin is already a daily currency to some of the first world country. In our country bitcoin is just starting to be discovered by investors and ordinary people. I hope someday that more people will join us.
Bitcoin will become the main currency very soon - the problem is that it is quite speculative. His course is influenced by the following factors: public opinion (very sensitive to panic and rumors), cyber attacks, speculation of major players, geopolitical and financial crises (crisis of 2015 in Greece, Brexit for example), global cataclysms. The popularity of the crypto currency will grow with the increase in instability in the world, and Bitcoin will live as long as the Internet continues to live!
Bitcoin is a daily currency for trading altcoins, but for everyday use in the supermarkets i would say no. Unless there was some major updates to improve transaction speeds and lower the fees as well.
Approval from Wall Street is not needed for its success. It doesn't need approval from the institutions which it replaces."Can Bitcoin become a global currency?" -- It already is, Bitcoin lives on the internet and knows no borders.
i think bitcoin won't be, a other crypto
Bitcoin is already been use as a daily currency, as many transactions is carried out using Bitcoin for these transactions almost all over the world.The transaction fees are not too high and the confirmation time on the block found is about 10 to 30 minutes. For those who are already using bitcoin for daily online payments and other transactions, they are already use to the system of payments which on daily bases when they enter into their transactions.The Volatility may be a factor, when it is been use, yet when holders of bitcoin come to the understanding of the Crypto called Bitcoin, it will rather gain more acceptability and Usage as a daily currency as it already have been used.
But what about those who do not know the procedure of bitcoin transactions or online payments? Is it easy and reliable? Should I realy shift to bitcoin from payoneer and other payment methods? Jump to: