Topic: How can we get people to use bitcoin as a currency? - page 2. (Read 52948 times)
In order for people to use Bitcoin as a currency Bitcoin must be legal in their country and have the support of the government, then we can easily use Bitcoin as a currency and banks will increase Bitcoin transactions. If Bitcoin can be used as a currency then its investment will increase and Bitcoin will be able to transact in currency very easily without any need to break down.
This movement cannot be achieved without massive awareness creation. Bitcoin enthusiasts must be ready and willing to campaign for the use and adoption of Bitcoin within their countries, circle of friends, family etc. To practice this, Bitcoin enthusiasts must learn to integrate Bitcoin into their payment structure in order to encourage customers to use it.
That will be really a huge task though. Bitcoin i would say became popular when it was seen more as an investment opportunity than when it was propsed to serve as a digital currency. Maybe it is doable but i really am out of options to say how
Yes of course; naturally. If people start using cryptocurrency instead of cash, it will greatly simplify the way of buying any services. During a pandemic, it is really necessary that people do not get sick. It all depends on the government of the country, if it really legitimizes cryptocurrency, then it can become a means of payment in the territory of this country.
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.
It will only possible if the government allows it. People can't decide to make bitcoin as a real currency because it was not issued by the government. We have the law to follow in terms of global currency. But hoping that someday bitcoin will become more useful in terms of payments like our real currency. Anyway in our country we can used bitcoin to pays our bills using an online apps. Even online, there are only a few stores who are accepting it as payment.
During my initial years, I used to sped a lot of time in convincing people, about the advantages of cryptocurrency. But despite my best efforts only one or two took my words seriously. Nowadays I don't even try. IMO, it is better for these people to hear about crypto from some other source, such as media or office. Bitcoin has reached such a level of acceptability, that individual additions are no longer important.
I hope you'll still try it whenever you had the chance, what I do is I never really open up about bitcoin to start the conversation, I just tell about it whenever the topic is going into that way. Just like what you have said, 1 or 2 took your words seriously, its still numbers, those two can be familiarized with bitcoin then maybe in the future they decide to try and believe in it too. They can also tell it to their other friends. I think it is still an important baby step.
They will hear it from news and other sources but it will be different if a friend and a person they really know shares about the experience in bitcoin. Its more personal. Its more convincing. Our friends can benefit from us.
Lets make people to use crypto for paying, for example, the electric bill or something similar, this is the easiest way.
In our country, a local exchange actually lets us use our bitcoin to pay our bills, it is great since other than that, they also give cashbacks when we do that. Then someone actually explained to me that we are not actually paying bitcoin but just giving them bitcoin and convert it to fiat and then send it to the electric company.
Thanks for the explanation. That makes it clear. I guess I would be telling this to my friends explaining that it is also a good thing. Either way, I can't really stop them from using the local exchange since they are also selling in-game currencies, and as the release of TI10 Battle Pass was done, we need that cashback in that exchange.
While fiat currencies decide everything in the world, the use of cryptocurrency for its intended purpose is rather difficult, because we can’t say how much even Bitcoin will cost tomorrow, not to mention the mass of various altcoins, the prices of which are absolutely difficult to predict.
Lets make people to use crypto for paying, for example, the electric bill or something similar, this is the easiest way.
In our country, a local exchange actually lets us use our bitcoin to pay our bills, it is great since other than that, they also give cashbacks when we do that. Then someone actually explained to me that we are not actually paying bitcoin but just giving them bitcoin and convert it to fiat and then send it to the electric company.
Bitcoins have value because they are useful as a form of money. In the case of Bitcoin, this can be measured by its growing base of users merchants and startups. Bitcoin was invented by someone using the name Satoshi Nakamoto. As with all currency bitcoin value comes only and directly from people willing to accept them as payment.
During my initial years, I used to sped a lot of time in convincing people, about the advantages of cryptocurrency. But despite my best efforts only one or two took my words seriously. Nowadays I don't even try. IMO, it is better for these people to hear about crypto from some other source, such as media or office. Bitcoin has reached such a level of acceptability, that individual additions are no longer important.
Lets make people to use crypto for paying, for example, the electric bill or something similar, this is the easiest way.
In our country, a local exchange actually lets us use our bitcoin to pay our bills, it is great since other than that, they also give cashbacks when we do that. Then someone actually explained to me that we are not actually paying bitcoin but just giving them bitcoin and convert it to fiat and then send it to the electric company.
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.
Even online, there are only a few stores who are accepting it as payment.
Well, businessmen are wise and cunning. They sure know when something is worth the money and Bitcoin does enters the standards. However, businessmen and investors also know the characteristics of Bitcoin and the number one issue I think, that prevents Bitcoin from being a real form of currency is its volatility. Market analysts still have trouble with predicting Bitcoin's graph because anything can change at any moment especially its price. If it would be a currency in action or the one that is present in every households, it should adapt to certain level of standards where people can use it for easy transaction and payment. But because Bitcoin isn't, we just have to study it more and for now, be content of what it can do in the economy.
Actually it is very easy to make bitcoin into real currency or many people use bitcoin as payment. By multiplying stores or merchants that
accept bitcoin payments. Especially if many offline stores accept payments with bitcoin automatically making many people use bitcoin as
real currency. But the problem is many countries whose governments have not legalized bitcoin as payment, the store or merchant does not
dare to accept payments with bitcoin.
accept bitcoin payments. Especially if many offline stores accept payments with bitcoin automatically making many people use bitcoin as
real currency. But the problem is many countries whose governments have not legalized bitcoin as payment, the store or merchant does not
dare to accept payments with bitcoin.
Bitcoin can still be used as a currency nowadays, regardless of its price on the market (if you're using crypto directly independently from Fiat). The real problem is the number of merchants and businesses accepting it as payment method compared to traditional Fiat. If there's lack of merchant acceptance into Bitcoin, we cannot expect everyday people to use it as a currency. Slow transaction speed and high fees are no longer an issue since Bitcoin already has the Lightning Network. It's even possible to "tackle" with Bitcoin's volatility by relying on stablecoins.
As long as we take efforts to introduce Bitcoin's benefits to people in the mainstream world, the pioneer cryptocurrency will be used as an alternative to the world's monetary system. I can see a bright future for Bitcoin with the Lightning Network under heavy development bringing instant transactions to the world at a fraction of the cost. This, alongside sidechains with smart contract capabilities (RSK) should bring a whole new era of decentralized finance powered by the Bitcoin blockchain. Only then, people will be able to use Bitcoin as a currency more thoroughly as they would with ordinary cash. Just my opinion
There are many ways we be able to figure out to push other population to expend cryptocurrencies as a paying administer for their every transactions they like to include in the virtual verve and communal lives. But we obligation careful that in attendance are factors why citizens are mortal hesitate theirselves to perform so, like; sway of their government, news about cryptocurrencies and the missing of assets to invest on it.
Lets make people to use crypto for paying, for example, the electric bill or something similar, this is the easiest way.
Using Bitcoin has become much easier over the years as there are a lot more projects solving this very problem. Methods such as accessible wallets, useful API's and open source projects (to name a few) are making using Bitcoin easier by allowing more businesses to create options for purchasing in Bitcoin and likewise making it easier for consumers.
Bitcoin is becoming more and more popular for investment in the world of cryptocurrencies nowadays and people are getting drunk trying to get more and more and for which the demand for Bitcoin has increased a lotWhich is likely to increase further in the future and which may cause the price of coins to rise further in the near future
I think bitcoin will never be our exchange value in daily life because the price of bitcoin is volatile. That is why the government does not want to make its citizens suffer losses / fall into poverty, if you want to use bitcoin as a payment then there must be a fixed price for bitcoin (but that's not possible)
Although you could say that government doesn't want to use bitcoin but I think is not because of avoiding citizens to fall into poverty as a result of losses in bitcoin investment. I think volatility is one reason as you have also mentioned. The government also like to control the bitcoin which they can't, this is also a reason.
I think bitcoin will never be our exchange value in daily life because the price of bitcoin is volatile. That is why the government does not want to make its citizens suffer losses / fall into poverty, if you want to use bitcoin as a payment then there must be a fixed price for bitcoin (but that's not possible)
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