Topic: How can we get people to use bitcoin as a currency? - page 5. (Read 52960 times)

The best way is how to get people to use blockchain.

The reason why most of the people don't use cryptocurrency is especially because of the early bitcoin miners/investors. It's only their fault.

The early people in btc promoted only the btc and promoted it only as get rich over night instead of cming with applications of how to use it and why it is a better alternative to paypal/payza/skrill neteller. That's why the speculative market is now how it is and we can't have a long term stable price for btc.

Shame on them lol, but they got rich, right?


*edit* saw some posts that are ridiculous, quote-local merchants can start accepting bitcoin-end of quote, LOL no. Bitcoin was never made for small payments, I can't pay my coffee with btc, by the time the transaction is confirmed, my coffee is already cold. Please elders of the this forum that even get paid to post crap, use your knowledge just a bit more, or maybe learn more about bitcoin instead of just using friendly ui wallets

Some would say that bitcoin is developed to be a great investment in the incoming future or in the near future but it is not always about the investors but it is also how would they be able to make people use it. That is the reason why with the Lightning Network, we would be able to use it for payment as it is faster and more efficient. With the growing use of the internet in our lives, it is inevitable for Bitcoin to be left in the sidelines.

FTFY

I use Bitcoin to buy gold online. It is better than any other form of payment for both the customer and the merchant.


Bitcoin is not a person. It has no will. It cannot have an intention. When you say, "Bitcoin is not intended for payment," you must specify who has that intention. Without that, your declaration is worthless.

Says who? With the Lightning Network already in development, Bitcoin can finally enjoy instant transactions and low fees. Most people are already using the LN for their own benefit. It's no secret that the main chain is slow and relatively inexpensive. But thanks to the inception of the LN, things will become better for the pioneer cryptocurrency in the long run. What is needed is massive adoption from businesses and merchants into the Lightning Network itself. Only then, people will be able to use Bitcoin as a currency more thoroughly.

The main issue of Bitcoin is not scalability, but rather its price across the market. Considering that the pioneer cryptocurrency is wildly volatile in price, it's not suitable for use as a currency just as you would with ordinary cash. At this point, Bitcoin is better as a store of value than anything else. It'll be considered as an asset or commodity until its price becomes stable across the market. It's been 11 years since Bitcoin's inception, yet the volatility is still present on the market. Despite our efforts in helping people to use Bitcoin as a currency, it looks very unlikely that things will settle down in the future. Hence, Bitcoin might continue to be used as a store of value instead of a currency for as long as it lives in the mainstream world. Just my opinion

bitcoin no longer meets the requirements of consumers who need to be able to pay quickly and inexpensively. Be realistic. Bitcoin is not intended for payment.

Not exactly. Bitcoin cannot be considered as a currency because of its many limitations relative to Fiat. The pioneer cryptocurrency is very unstable in price, slow, and costly at times. At its current state, people would use it more as a store of value than anything else. For Bitcoin to be used as a currency, it needs to have lower fees, faster transactions, and most of all, a stable price across the market. While scalability issues are being handled with the Lightning Network (which is still in development and not ready for mainstream use), volatility is still an issue that has haunted Bitcoin over the years. It's probably because the crypto market is still small and highly unregulated unlike other traditional markets (stocks) in the mainstream world. That of course, is a real concern if you cash out Bitcoin for Fiat.

Despite prices, 1 Bitcoin will always be the same no matter what. The same applies to other cryptocurrencies on the market. But we all know that most people in the mainstream world uses Fiat as the unit of account. As long as the trend continues, Bitcoin may never be able to be used as a real currency for day-to-day transactions. With wild fluctuations in price, the pioneer cryptocurrency can be used more as an investment than anything else. In the end, time will tell us what will be the fate of Bitcoin as an alternative to existing Fiat for daily payments. Just my opinion

So did you mean that Bitcoin is not already a currency? It is already a currency but it is a digital that can only accept via online transactions or any things that uses technology, not in real life because bitcoin is really volatile so that the everyday it has a changes when it comes the value of each. It is difficult to use bitcoin as a primary exchange like stores or in a market because there are many people doesn't have a deep knowledge about bitcoin and the can't afford it. Fiat currencies is a fix amount of value and all people can have it.

That's certainly true, mate. Bitcoin needs more time to become widely accepted as a cryptocurrency for daily payments. We already have mainstream businesses and companies interested in accepting the pioneer cryptocurrency as payment method. Some have been skeptical about it, because of its high fees and slow transaction confirmation times. But thankfully, developers are working hard on the Lightning Network in order to boost Bitcoin's adoption within the mainstream world.

We should do our part in promoting the benefits of Bitcoin to everyone worldwide. Whenever they'll use it as a real currency or not, it's up to them. After all, not everyone will find Bitcoin to be attractive for daily payments. Fiat currencies (national currencies) still have their loyal supporters/followers. For different situations in life, you'll end up using one type of currency from another. Hopefully, more people would become aware of Bitcoin as its supporters spread the word about it within the mainstream world. In the meantime, people are focused on using Fiat for times like these where an emerging disease is rampant in many countries. It could take quite a long time before people will use Bitcoin as a currency more thoroughly. With patience, we'll be able to achieve great results in the future. Just my opinion

Bitcoin has a long way to go. In order for Bitcoin to be a currency and be accepted in a day to day basis, people should be informed about Bitcoin. Have you notice whenever we tell someone about Bitcoin, we have to slowly explain it to them. It's advantages, why it's made and how is it different to Fiat and so on. We have to convince people that it is truly worth to be a currency, and it is possible to use everyday. The word of mouth is important so people can be interested about bitcoin, to invest in it, and to use it. However, due to it's volatility, it somehow always earned it's bad reputation when it crashes.

In order for Bitcoin to be a currency, it need to earn the people's trust.

This is currently not possible. Firstly, bitcoin is very unstable due to the crisis. Secondly, it is not legalized, how will you pay taxes in bitcoins? And another very important thing is transaction time.
Will you wait for the transaction to enter the block and confirm it for 20-30 minutes?

Bitcoin still needs time to be accepted as a means of payment, but Amazon reportedly already accepts payments with Bitcoin, whether true or not, I heard through someone, it would be very interesting if Bitcoin became a retail trade payment option

At the moment, we do not yet see a mass offer to use cryptocurrencies as a means of payment in retail trade. If store administrators see this offer, they will be forced to go to a meeting with customers. And then they will implement various terminals that will allow you to convert cryptocurrency to Fiat.

Glad to know that Bitcoin has real use cases in Australia. With India legalizing crypto and a few other countries joining it, the future looks bright for the pioneer cryptocurrency in the mainstream world. We need to do our part in promoting the benefits of Bitcoin to the world, in order to increase adoption like never before. Of course, no system is perfect nowadays. But we cannot deny the fact that Bitcoin is still much cheaper and faster to use than wire transfers and Bank-to-Bank transfers. Some people will accept Bitcoin, while others will reject it. After all, one could live without Bitcoin but not without Fiat. The latter is much more stable in price than the former and it's backed by the full faith and credit of the government.

With the Lightning Network on the works, people will be able to use Bitcoin as they would with ordinary cash (Fiat). As long as the pioneer cryptocurrency is not scalable for the whole world to use, it cannot be used as a real currency for day-to-day transactions. Instead, it'll become more a commodity that works best as a store of value just like Gold is today. As it's said in the real world, "patience is a virtue". Over time, we'll be able to see good results in the number of people, and mainstream businesses accepting Bitcoin in the mainstream world. Just my thoughts

I believe that the popularity in the cryptocurrency community should rise following the example of such payment systems as PayPal and webmoney.  Cryptocurrencies will be massively used in everyday life only when a person sees the real possibilities and benefits of using cryptocurrency as a means of payment.  In this way, the situation on the cryptocurrency market will change, because people should see Real prospects in the future from the use of cryptocurrency, and for this it is necessary to provide people with examples and as much information as possible.

Indeed because, all countries have different culture and tradition and it will be the sole indicator if they have the capacity to use Cryptocurrency such as Bitcoin in their daily financial transactions. Even though in the present, Cryptocurrency have been used mostly on investments and trades, the potential of it being a worldwide currency in possible. People should look far in the future and should not underestimate the potential of crypto currencies alike Bitcoin that could be a high value asset that would be supported by the upcoming halving event leading to a decrease in its overall supply production.

In my country Venezuela, some progress is being made to accept bitcoin and other cryptos. Only in some major cities (Caracas, Maracaibo, and Mérida) in commercial stores such as Burger King, Movistar, Intercontinental Hotel and others. Thanks to a payment gateway called Cryptobuyer. I think that everything needs time and communication effort for adoption.

I admit that was the sad reality but I hope let's still trust the process. The volatility is normal because there are only few number of people who use crypto (bitcoin to be more specific) but if this will become the new standard as a means of transaction I believe the volatility will greatly decrease and the price will stabilize. So don't stop adopting and spread the news harder, each and everyone must hear the news and hope they'll respond upo it positively .

People are already using Bitcoin as a currency and a recent ruling in Australia accepts digital currency as collateral as it also performs the function of fiat currency. There are a lot of services online that convert crypto to fiat and vice-versa and instant withdrawal are available. Blockchain revolution is still young and will be major instruments of exchange in the near future

Local merchants can start accepting crypto as a payment processor. Although there are countless of shopping sites that accept bitcoin and by using bitcoin to buy the gift card on platforms such as bitpay, individual can now pay for their purchase on amazon and even buy flight tickets such as delta air ticket. I believe the high volatility of the coin is what is standing as hindrance to the acceptance

This can be done in several ways but the main thing is the government legalising cryptocurrency usage in their countries, this would go a long way in people having trust and confident in the blockchain technology and several awareness from professionals and experts in showing the uniqueness and quintessence of the blockchain technology in our day to day activities. With this more people would definitely want to adopt the usage of blockchain.