How can we get people to use bitcoin as a currency? - page 15.

desticy

sr. member

Activity: 1512

Merit: 292

www.cd3d.app

Quote from: Ayiranorea on April 30, 2019, 04:34:05 PM

Quote from: spike420211 on April 30, 2019, 04:26:04 PM

The higher the price of Bitcoin, the more attractive it is as an asset for both investment and everyday use. After all, there is nothing better than to use a currency that is constantly growing in price.

Higher the price will easily gain the attention of the common people who haven't heard of it earlier. Similar thing took place when the price of bitcoin reached peak value. When the price reached the ath, most of the news portals broadcasted it. Large number of people came to know about it and then started investing on it.

The increased price of bitcoin is more likely to prompt people to buy it, that is, to invest, and perhaps partially motivates for everyday use, but the primary goals will be investments.
In order for people to want to use Bitcoin in their daily lives, it is necessary to make it as convenient as possible for use.
But since this is not so simple due to the limited code of bitcoin, we must create a service around it, as convenient as possible.

dengpei

member

Activity: 120

Merit: 10

Here for enriching conversations

Bitcoin can never be truly used as a day to day currency because its price is very volatile. BTC is good to use as a longterm or shortterm investment and it makes sense to have it as part of your portfolio because its a high performer but for day to day I am of the opinion that a stable coin would perform better. If you need to pay me $10 for a service if it ends up reaching me as $9.90 because the exchange rate spiked midway of the transaction then that medium of exchange fails to fulfil its duties.

Spaffin

full member

Activity: 1316

Merit: 108

A simple person will never look for a cryptocurrency exchange to buy a cryptocurrency and use it for their personal purposes, to pay for goods and various services. It seems to me that, first of all, an appropriate infrastructure should be created where cryptocurrency could be used, as well as for an ordinary person to be able to get paid in cryptocurrency. This is how people can be attracted to the use of cryptocurrency in everyday life. It’s easy for us to say and work with cryptocurrency, because we do this business every day, but millions of people don’t even know one percent of the knowledge that we have.

doomistake

hero member

Activity: 1400

Merit: 571

Quote from: Best Dreams on April 27, 2019, 04:34:33 PM

Quote from: Kwansimaa on April 25, 2019, 05:27:50 AM

if we want bitcoin to be used as a currency then we need to educate the masses about how to use cryptocurrencies, also how to make payments with bitcoin without all the mistakes that we see people make. On top of it all, there need to be online platforms and other market places willing to accept bitcoin as payment method.

Surely we should increase the awareness about crypto currency because still there are not so many people who are well aware of it, we should tell people what actually crypto currency is, it is best way of payment, with the passage of time more people will accept the use of bitcoin to buy and sell goods, I can see future currency will be only bitcoin.

Even with a lot of advertisements regarding about cryptocurrency and how amazing it is, awareness will never be enough if the crowd you are shouting out is pretending to be a deaf. We don't need to force them to engage in the bitcoin world, they will if they want to, as of now they don't trust bitcoin and hate it because of the risks and involvement of bitcoin in scams and other illegal activities that the most of us think fiat don't have.

Argoo

sr. member

Activity: 2464

Merit: 252

Quote from: SnowAugustine on October 15, 2018, 07:13:46 AM

How can we get people to use bitcoin as a real currency and not just a quick way to get cash as a lot of people seem to do? When I say currency, I mean the literal definition of currency as something that is used as a medium of exchange.
Even online, there are only a few stores who are accepting it as payment.

We cannot force people to do something in cryptocurrency. Decentralization and coercion - concepts are not compatible. We can only explain and show other people the benefits of cryptocurrency. In addition, the use of cryptocurrency as a means of payment does not completely depend on the desire of people. For this, it is still necessary for states to legalize it with their normative acts. There is a certain difficulty here, since, from the point of view of the state and its government, cryptocurrency has many shortcomings. Therefore, the process of legalizing cryptocurrency is moving slowly.

Sithara007

legendary

Activity: 3346

Merit: 1352

Leading Crypto Sports Betting & Casino Platform

Quote from: ecnalubma on October 09, 2019, 12:42:14 AM

In order to get people to use Bitcoin you will have to start it with its advantages the convenience of using it as payment method specially sending funds overseas, it operates 24/7 unlike banks etc. Second you will start telling them about its disadvantages, the price is unstable and you can only use with internet etc. Through simple information they can decide whether to engage or not.

If it is very easy to use Bitcoin as a remittance medium, then you don't need to tell people to use it for that purpose. Without any intervention they will start doing so. But to be realistic, nowadays it is not very convenient to use Bitcoin to send international payments. There are multiple issues. First and foremost, Bitcoin is not legal in all the countries. Especially in countries such as India and China (which accounts for the lion's share of remittance payments made every year), the governments are very hostile to Bitcoin and they have even banned bank accounts being used for trading Bitcoin. What is the use in sending Bitcoins, if it is not possible to convert them to fiat cash?

finzyoj

sr. member

Activity: 644

Merit: 255

CryptoTalk.Org - Get Paid for every Post!

Quote from: Meowth05 on October 09, 2019, 07:47:16 AM

Anyway, for people to accept bitcoin as a currency it should be acknowledge by the government first because no matter how you promulgate the bitcoin from people as long as government prohibits the usage it stil useless.

Yes! All of your efforts for encouraging others will be useless if your government ban it already. So for those countries whose government are still undecided or stand as neutral regarding this matter, use cryptocurrency properly and I'm sure that everything will follows. Think, imagine that you and all of your countrymen are not using crypto to scam or to do illegal stuff, you only use it nothing more but to improve dealing with daily transactions then there will be a very high chance for your government to embrace and legalized this technology. Remember that all of you had a great part on cryptocurrency's future in your country.

Meowth05

sr. member

Activity: 854

Merit: 267

★777Coin.com★ Fun BTC Casino!

Quote from: Williams_Leo on October 09, 2019, 07:30:00 AM

Quote from: ecnalubma on October 09, 2019, 12:42:14 AM

In order to get people to use Bitcoin you will have to start it with its advantages the convenience of using it as payment method specially sending funds overseas, it operates 24/7 unlike banks etc. Second you will start telling them about its disadvantages, the price is unstable and you can only use with internet etc. Through simple information they can decide whether to engage or not.

Do you think persuading people to follow such a traditional approach really works? My answer is probably not even if you explain for hours, even every day, the elements and features you mention will still not make people use bitcoin as a currency because it is so clear that the best way to use bitcoin is to invest, the internet provides too full information about profits through bitcoin. Another reason that will not make people use bitcoin as currency is that the surrounding facilities probably do not support, from retailers to the government.

You have a point. For me bitcoin would be better use for online transaction like Trading and Investment due to the reason of volatility. It is not bad as well to use bitcoin for medium of exchange since it is versatile however due to volatility behavior it won't work well. Anyway, for people to accept bitcoin as a currency it should be acknowledge by the government first because no matter how you promulgate the bitcoin from people as long as government prohibits the usage it stil useless.

Williams_Leo

member

Activity: 207

Merit: 11

Quote from: ecnalubma on October 09, 2019, 12:42:14 AM

In order to get people to use Bitcoin you will have to start it with its advantages the convenience of using it as payment method specially sending funds overseas, it operates 24/7 unlike banks etc. Second you will start telling them about its disadvantages, the price is unstable and you can only use with internet etc. Through simple information they can decide whether to engage or not.

Do you think persuading people to follow such a traditional approach really works? My answer is probably not even if you explain for hours, even every day, the elements and features you mention will still not make people use bitcoin as a currency because it is so clear that the best way to use bitcoin is to invest, the internet provides too full information about profits through bitcoin. Another reason that will not make people use bitcoin as currency is that the surrounding facilities probably do not support, from retailers to the government.

TrevorS

sr. member

Activity: 1050

Merit: 377

The most ideal way was to distribute to all newcomers 10-20 bitcoins to pay for anything they like in their city.
This would quickly give an initial experience to people unfamiliar with the blockchain, and besides, they would feel the value of cryptocurrency using the example of buying services.
We could even give them $ 10 for $ 10 of purchased cryptocurrency. But unfortunately, you must first arrange the entire infrastructure for payment with a crypto.

pinggoki

sr. member

Activity: 1666

Merit: 426

Bitcoin is a digital currency in which we may convert it into a real money so that we can use it as a currency in the real world. There are a few stores and cafe that is accepting bitcoin as a payment for the things that they buy. As we all know that bitcoin is a volatile in which it will change the price every time so some stores didn't use bitcoin as a currency. We must promote bitcoin to be a currency and used it to buy some goods so that people will have a knowledge on how it would works. It will really take a lot of time before we can use bitcoin to be a currency to buy on all stores.

ecnalubma

sr. member

Activity: 1540

Merit: 420

www.Artemis.co

In order to get people to use Bitcoin you will have to start it with its advantages the convenience of using it as payment method specially sending funds overseas, it operates 24/7 unlike banks etc. Second you will start telling them about its disadvantages, the price is unstable and you can only use with internet etc. Through simple information they can decide whether to engage or not.

agentx44

sr. member

Activity: 756

Merit: 268

Quote from: SnowAugustine on October 15, 2018, 07:13:46 AM

How can we get people to use bitcoin as a real currency and not just a quick way to get cash as a lot of people seem to do? When I say currency, I mean the literal definition of currency as something that is used as a medium of exchange.
Even online, there are only a few stores who are accepting it as payment.

I think the first basic step on how you can get people into using bitcoin is by explaining the foremost knowledge he need to have before deciding whether he'll patronize it or not. Afterwards, you can try telling him the benefits he could attain and you're best experiences on crypto. Make sure to clear out the risk he may face as he gets in and if things work out, teach him the proper way of investing.

DaftAjax

sr. member

Activity: 532

Merit: 284

Quote from: Abiky on May 03, 2019, 08:18:47 PM

That's certainly true, mate. Still, Bitcoin has a lot of room for improvement as time goes by. The upcoming stable release of The Lighting Network, and several other features (like Schnorr Signatures and TumbleBit) should make Bitcoin faster, private, and cheaper than ever. Only then, regulatory compliance is needed across centralized cryptocurrency exchanges for Bitcoin prices to stabilize.

This will take some time, though as Bitcoin is still new to the world. I believe that in a decade from now, Bitcoin would've improved quite a bit, gaining traction at full speed. Once this happens, then the number of people using Bitcoin as a currency will grow at an unprecedented rate.

I don't think we can improve Bitcoin even further, don't get me wrong, I'm not talking about Bitcoin's price but its "structure" as a cryptocurrency. Think about this, If we really can improve Bitcoin then why do we even have to have Etherium and other altcoins? AFAIK, altcoins are developed because they wanted to imitate/create a "better Bitcoin". Now, I believe that all these "Lightning Network and several other features (like Schnorr Signatures and TumbleBit)" isn't directly applied in the cryptocurrency but to the Blockchain. And improving the Blockchain affects how Bitcoin (and altcoins) will perform in the charts.

Bitcoin isn't new anymore, it's everywhere, believe it or not, it's like ESports.

Abiky

legendary

Activity: 3220

Merit: 1363

www.Crypto.Games: Multiple coins, multiple games

Quote from: Netnox on April 24, 2019, 08:22:16 AM

Direct payments in Bitcoin may not become very popular for some time. Because Bitcoin is having such a volatile exchange rate, it may not be viable for the users to make frequent payments with it. In order to make payments, we might need to use an intermediary, such as a pre-paid debit card. Even if the exchange rates gets stabilized, there are other issues, such as the delay in getting confirmations.

That's certainly true, mate. Still, Bitcoin has a lot of room for improvement as time goes by. The upcoming stable release of The Lighting Network, and several other features (like Schnorr Signatures and TumbleBit) should make Bitcoin faster, private, and cheaper than ever. Only then, regulatory compliance is needed across centralized cryptocurrency exchanges for Bitcoin prices to stabilize.

This will take some time, though as Bitcoin is still new to the world. I believe that in a decade from now, Bitcoin would've improved quite a bit, gaining traction at full speed. Once this happens, then the number of people using Bitcoin as a currency will grow at an unprecedented rate.

In the meantime, people will prefer to use Fiat as a currency than anything else. Hence, we'll continue to see debit/credit cards for quite some time. Just my opinion

Ayiranorea

sr. member

Activity: 1246

Merit: 255

Leading Crypto Sports Betting & Casino Platform

Quote from: spike420211 on April 30, 2019, 04:26:04 PM

The higher the price of Bitcoin, the more attractive it is as an asset for both investment and everyday use. After all, there is nothing better than to use a currency that is constantly growing in price.

Higher the price will easily gain the attention of the common people who haven't heard of it earlier. Similar thing took place when the price of bitcoin reached peak value. When the price reached the ath, most of the news portals broadcasted it. Large number of people came to know about it and then started investing on it.

spike420211

sr. member

Activity: 1610

Merit: 372

The higher the price of Bitcoin, the more attractive it is as an asset for both investment and everyday use. After all, there is nothing better than to use a currency that is constantly growing in price.

Sum24

member

Activity: 448

Merit: 10

Quote from: Farma on April 26, 2019, 12:48:01 AM

Quote from: Kwansimaa on April 25, 2019, 05:27:50 AM

if we want bitcoin to be used as a currency then we need to educate the masses about how to use cryptocurrencies, also how to make payments with bitcoin without all the mistakes that we see people make. On top of it all, there need to be online platforms and other market places willing to accept bitcoin as payment method.

well, most people who use bitcoin as a currency can only be found on the internet. mostly, crypto users sometimes use bitcoin as a currency if needed. however, most of that, people view bitcoin as an investment tool, or a technology developer.

Yes on internet people are using bitcoin because they are aware of it and one more reason is bitcoin is digital currency so it being use on digital system, there are so many technologies but still I have never seen any other like bitcoin, I know there are so many users but we should spread good news and show people who reliable it is to shop with bitcoin.

Best Dreams

full member

Activity: 1008

Merit: 101

Quote from: Kwansimaa on April 25, 2019, 05:27:50 AM

if we want bitcoin to be used as a currency then we need to educate the masses about how to use cryptocurrencies, also how to make payments with bitcoin without all the mistakes that we see people make. On top of it all, there need to be online platforms and other market places willing to accept bitcoin as payment method.

Surely we should increase the awareness about crypto currency because still there are not so many people who are well aware of it, we should tell people what actually crypto currency is, it is best way of payment, with the passage of time more people will accept the use of bitcoin to buy and sell goods, I can see future currency will be only bitcoin.

Farma

legendary

Activity: 2492

Merit: 1001

Leading Crypto Sports Betting & Casino Platform

Quote from: Kwansimaa on April 25, 2019, 05:27:50 AM

if we want bitcoin to be used as a currency then we need to educate the masses about how to use cryptocurrencies, also how to make payments with bitcoin without all the mistakes that we see people make. On top of it all, there need to be online platforms and other market places willing to accept bitcoin as payment method.

well, most people who use bitcoin as a currency can only be found on the internet. mostly, crypto users sometimes use bitcoin as a currency if needed. however, most of that, people view bitcoin as an investment tool, or a technology developer.

Topic: How can we get people to use bitcoin as a currency? - page 15. (Read 52964 times)