Topic: Don't you think we should use BTC as a medium instead of capital gain ? - page 3. (Read 519 times)
July 12, 2018, 01:21:34 AM
The damage is already done. I mean, it's not totally wrong, just that some people got the misconception that bitcoin is a good source of income if they invest it well. But there are some users out there do use it as a medium of payment and money transfer.
July 12, 2018, 01:01:52 AM
Most of the people are using bitcoin not as a medium of exchange but rather to store value. They plan to buy it in low prices and sell off at higher prices to easily make profit. But bitcoin and other crypto currency can act same as fiat currency. if bitcoin is more widely accepted in exchange of good and services the usage of bitcoin as a currency will increase.
July 12, 2018, 12:40:09 AM
Having Bitcoin as a Store of Value only, will only damper it's growth.
Who said that it should only be "store of value only". It should be store of value first, and a medium of exchange second until there is a more efficient way of transacting in Bitcoin.
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You need to utilize it as it was intended by Satoshi as a alternative for the Cash system. Satoshi did not say that bitcoins should be hoarded for many years, he developed the whole protocol around a concept that it should be a payment system.
But the system in its forrm today is very inefficient as a medium exchange. The best present use case for Bitcoin is a decentralized, censorship resistant, and a stateless, sovereign store of value to protect your wealth that can never be taken from you.
Tell me if I am wrong and that I should store my wealth in fiat.
Plus if Satoshi today tells the Core developers to hard fork to 32mb block sizes, is it in your opinion that Core should follow?
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I see no reason why it should not be used for both a medium of exchange and a store of value. There should just be a balance between the two use cases. ^smile^
I agree, but it is a store of value first. Do not lie, you are also hoarding as much Bitcoin as you can, correct?
July 11, 2018, 11:25:23 AM
We should start considering Bitcoin as a currency rather than a long-term investment which will generate profit. To generate profit, Bitcoin will have to become popular thanks to being widely accepted and needed. Too many people focus only on the price and complain about it all the time. I'm fed up with it, I hope that people will change their attitude.
Thanks man, I am working on this issue for a long time. I talked with so many people about this issue. Most of them want to hold BTC instead of using it for daily life's transactions. July 11, 2018, 10:02:56 AM
Do you think we should change our attitude towards bitcoin ? Don't you think we should use BTC as a medium instead of capital gain.
It's simple: As long as there are reasonable expectations of the price of Bitcoin going up, that is a disincentive to spend it/sell it, or get rid of it in any way, because you would be losing some serious moon tickets.
The only way people would feel comfortable spending it is if the price flattened out, which can only happen if Bitcoin is above $1,000,000, so by then I guess the volatility will be low enough to start spending it.
Forget about spending it for your groceries, unless someone comes up with some serious technology on a second layer way that allows for it.
July 11, 2018, 09:35:41 AM
BTC it is as our place or location to get capital allowance from earnings from bitcoin, so media we use to reach bitcoin place that we have to use computer, laptop, and android. so you can find capital in bitcoin while relaxing at home with a cup of hot coffee ......
July 11, 2018, 08:55:46 AM
The bitcoin is a virtual asset. Actually it can be used as investment also as currency for economic transactions.
July 11, 2018, 08:09:47 AM
We should, but we can't, for now that is. Bitcoin was intended to be a currency, but with its current state, it being an investing is better. It proves to be a good source of income by now. People will always want to get profit. Probably in the future it will be utilized as a currency. Let's just wait for tht time to happen.
July 11, 2018, 08:03:16 AM
Bitcoins are usually treated as an investment, that is people will buy them and sell them off when the prices rise. This investment has made the investors into millionaires and billionaires as well. That is why, people treat is more like an investment since this method is more profitable to them.
July 11, 2018, 07:42:24 AM
some people don't like investing with bitcoin for them it's a currency they don't care about it that much , but I think we can use it as both way, why can't you use your currency as investment it can be useful for earning profit but investing on gold is different thing it is not unstable like currency
July 11, 2018, 05:33:42 AM
at the beginning of the creation of bitcoin, bitcoin is as currency which of course serves as an alternative means of payment
but as time goes by and the popularity of bitcoin, bitcoin develops into an investment asset
so I think the most appropriate is to address bitcoin as a capital gain
but as time goes by and the popularity of bitcoin, bitcoin develops into an investment asset
so I think the most appropriate is to address bitcoin as a capital gain
July 11, 2018, 04:42:43 AM
Do you think we should change our attitude towards bitcoin ? Don't you think we should use BTC as a medium instead of capital gain.
I agree with you, we can use BTC as a medium of transactions in every outlet that accept BTC as a means of payment in their store for the existence of BTC increasingly known and can lift the name BTC and the existence of the more famous BTC 
July 11, 2018, 04:14:55 AM
Well Bitcoin is a decentralized currency and one is free to use it as he thinks right. There isn't only a single use case for Bitcoin, it can be used as a payment medium or as a store of value or for many other things. There's no harm in any of them. As the adoption increases people will automatically start using Bitcoin as a medium.
July 11, 2018, 04:02:34 AM
Do you think we should change our attitude towards bitcoin ? Don't you think we should use BTC as a medium instead of capital gain.
Well bitcoin can perform both, bitcoin is commong closer to what the fiat can do, therefore it is possible for it to become medium of transaction in the near future as well as it can be use to capital gain. Bitcoin is very flexible where as it can adapt to what the society needed for it to.perform.
July 11, 2018, 03:50:51 AM
obviously yes but there are sometimes restrictions for using bitcoin as a currency. for example i may want to buy groceries with bitcoin next time i go grocery shopping but the store doesn't accept bitcoin so what other choice do i have but to use fiat and use bitcoin as my investment?
and bitcoin is still young and it will be some time before it is mass adopted, has a huge price and becomes stable. by that time people will automatically shift towards using it more as a currency.
and bitcoin is still young and it will be some time before it is mass adopted, has a huge price and becomes stable. by that time people will automatically shift towards using it more as a currency.
July 11, 2018, 03:43:01 AM
Actually BTC have good value in market already because many people wants to invest money in here also they give lots of profit to their customers based on this many people use this as a income source also they can earn lots of profit instead of this people can get healthy income.
July 11, 2018, 12:45:57 AM
bitcoin in some countries as already treated as capital gain they want to implement tax on assets buying crypto currency with fiat is taxable
selling crypto currency to fiat is also taxable , getting profits from crypto currency ,they want to bring crypto currency under capital gains from investment .
selling crypto currency to fiat is also taxable , getting profits from crypto currency ,they want to bring crypto currency under capital gains from investment .
July 11, 2018, 12:45:36 AM
Having Bitcoin as a Store of Value only, will only damper it's growth. You need to utilize it as it was intended by Satoshi as a alternative for the Cash system. Satoshi did not say that bitcoins should be hoarded for many years, he developed the whole protocol around a concept that it should be a payment system.
I see no reason why it should not be used for both a medium of exchange and a store of value. There should just be a balance between the two use cases. ^smile^
I see no reason why it should not be used for both a medium of exchange and a store of value. There should just be a balance between the two use cases. ^smile^
July 11, 2018, 12:09:42 AM
Yes I agree with you on this. We shouldn't limit bitcoin to investment s only. Rather we must use it as a medium of transaction like the traditional currency. I want to use bitcoin in day to day life.
You already can in some limited way. But why use Bitcoin if you already have fiat? It would be better to store all your coins for a rainy day, and a higher price.
It was first thought out to be as a "digital cash" payments system, but after a few years since the genesis block, it was found that it would be not that simple. There are issues in scaling, maintaning decentralization, growing the network, etc that need to be tackled.
July 10, 2018, 04:24:16 PM
Yes it is true, but most people do not care about it. I think most people here just because of the profits. And if this were not then the people here were much less.
I agree with your opinion. 100% everybody invest in Bitcoin and want to make a profit from the price increase. I guess many people still do not know why Bitcoin was created for what purposeJump to: