How can we get people to use bitcoin as a currency? - page 52.

googs84

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Tell this to the government and we may see some strings pulling towards us. I mean crypto currencies lack that regulatory structure which it should be having if it ever wanted to run through the real world and people's wallet in their pants. Wink

Without any proper infra and regulations crypto will be running in the similar fashion as it does today. They will keep on running over the public ledger and in peer to peer ways. It lacks its currency definition because of that matter and hence its not that much effective as currency.

Dimas99

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Quote from: SnowAugustine on October 15, 2018, 08:13:46 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.

for everyone using bitcoin it certainly still requires the most important time and process for the legality of the government and the state, if the country already uses crypto currency as the prevailing currency, of course indirectly it will make that person use it too

h0lybyte

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Infact, more and more people are getting to use bitcoin everyday, this can be estimated how fast bitcoin is attracting new people by looking into bitcoin history.
In 2017 15 million bitcoins were total and now more than 17.3 are in hands of people

daarul50

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The first thing we have to do is first introduce bitcoin, so they know the basic functions and advantages of bitcoin. that way, they will be curious and start trying it. But what we have to remember does not force them because when they are comfortable and understand about bitcoin they will definitely switch to using bitcoin compared to paper currency after they feel all the advantages and conveniences of using bitcoin.

Cuk0ng_bitc0in

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when btc price grow up on desember 2017, many people search for news and want to know what bitcoin is. that is when it must be responsive to invite and introduce bitcoin as currency.

charlemagne_15

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Quote from: SnowAugustine on October 15, 2018, 08:13:46 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.

In my perspective, that was a lillte bit impossible due to bitcoin cannot be define as a currency you really think for a reason that a very little population in the world considered bitcoin as a currency. Also, the price of it is unstable so exchanges of it may varies. Only few institution or business are accepting it.

Pab

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Very little merchants are are accepting bitcoin
Bitcoin fee are to high still to use cards is cost less
yet another true is that bitcoiners are not likely to spend his bitcoins
Hold and trade is most popular

Pattart

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Quote from: andika2018 on October 18, 2018, 08:06:01 PM

Quote from: SnowAugustine on October 15, 2018, 08:13:46 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.

Its depend on mass adoption. If merchant accept cryptocurrency like bitcoin, i am believe we can use our bitcoin for payment but right now the obstacle in many country in on regulation. Many government still not issuing regulation for using bitcoin as payment

There are still many problems here that cause limited use of bitcoin for currencies so very few merchants accept it/ first is less adoption, so that merchants have not received many demand to accept payment with bitcoin. and second is regulation, regulation is needed, then merchants all over the world want to accept it, if that happens then it is very possible we use bitcoin like using fiat..

andika2018

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Quote from: SnowAugustine on October 15, 2018, 08:13:46 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.

Its depend on mass adoption. If merchant accept cryptocurrency like bitcoin, i am believe we can use our bitcoin for payment but right now the obstacle in many country in on regulation. Many government still not issuing regulation for using bitcoin as payment

mazdafunsun

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The first and most important thing is to educate peple, people should know the basic principles of Bitcoin. And i find it not very hard to explain, whenever i can , i try to expain people that it is not something which can be classified as scam or exclusively criminal.

The second thing is that venodrs should have crypto POS terminals for more convient purchases.

Slow death

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Quote from: SnowAugustine on October 15, 2018, 08:13:46 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.

you should first pray for governments to regulate bitcoin because only with all governments regulating bitcoin it may be possible to use bitcoin as currency. Let's give an example, imagine if in my country bitcoin was regulated and I had the bitcoin debit card, I could buy many things using bitcoin, the markets could have machines that would allow me to buy things using bitcoin, the gas stations could have machines that allow me to pay for gasoline using bitcoin. but this is all possible if bitcoin is regulated by all countries.

Quote from: ranman09 on October 18, 2018, 02:40:34 PM

I think bitcoin will not be suitable for businesses because of its volatility. Sad but it's true.

lack of regulations are the biggest problem we have today

ranman09

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I think bitcoin will not be suitable for businesses because of its volatility. Sad but it's true. I'd rather use bitcoin as an investment. I look on bitcoin like gold. The longer I hold the higher the price will be.

Finestream

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Quote from: itsik78 on October 18, 2018, 11:39:07 AM

Currently, Bitcoin does not fit the description of the reserve currency, although its popularity among a certain circle of investors is growing - many believe that Bitcoin will soon come out of the shadows and take its rightful place among other currencies.

Yes.It will surely be a global currency in time.But for now,most of the people are treating bitcoin more of an investment rather than a currency.Since it is not totally adopted and legalized by most of the governments,it will be forever hold by the people and will only be spend when most of the merchants accept bitcoin already.

Faeton

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Quote from: virendarnagpal on October 15, 2018, 10:54:59 AM

Quote from: The Sceptical Chymist on October 15, 2018, 10:13:53 AM

I've always seen bitcoin more as an investment that has properties of a currency, but I've never been a big fan of actually using it as money.

I think it is very honest and true statement I have seen from one of the senior most member of the forum. Otherwise people do not dare being so honest accepting this truth. And I think most of the people buy bitcoin with the intention of getting some profit when the price rise. There may be rare cases when investor buying it for using as currency.

Yes, while Bitcoin will grow in price, it will be loved, it will be popular and in demand. But one time they surveyed whether people would buy Bitcoin if they knew that it would not increase in price and a significant majority directly stated that they would not buy such Bitcoin, since it would not make sense, it would not be profitable.
Based on this, as soon as people understand that Bitcoin has stopped at its price and then it will no longer grow, its popularity and demand, and hence the price, will instantly fall.

Harlot

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I don't think that we the consumers are the biggest problem here and I see that we are only partly the problem. We can only see Bitcoin as a regular means of payment when majority of the businesses starts accepting it like our credit cards too. After that we need to consider the fact that Bitcoin's volatility is more appealing to traders rather than to people who are really using BTC as a mode of payment. BTC being volatile will make a lot of people not comfortable using it as a daily payment because just by holding BTC they are subjecting themselves the possibility of currency losing its value in a fast pace.

andriw

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as long as there are merchants or stores providing the option to pay via bitcoin, the user or consumer who wants the payment option can make a transaction, but it can clash with government regulations.

itsik78

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Currently, Bitcoin does not fit the description of the reserve currency, although its popularity among a certain circle of investors is growing - many believe that Bitcoin will soon come out of the shadows and take its rightful place among other currencies.

joebrook

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Quote from: bezygly on October 18, 2018, 10:36:01 AM

I think that tightening the state policy on citizens will lead to the widespread use of cryptocurrencies.

Whiles it was initially being used as currency, most people have saw that there were lots of money to be made by simply buying and holding their bitcoins and because of that people less and less people are using bitcoins as the currency it was meant to be.

bezygly

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I think that tightening the state policy on citizens will lead to the widespread use of cryptocurrencies.

sana54210

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Quote from: engrshu on October 16, 2018, 10:11:51 PM

As long as everybody has an access to the internet, then there's a possibility that BTC can be used by everyone. It is obviously a digital currency wherein internet is the basic and needed way.

Unfortunately, it is not everyone all over the world that would have access to the internet as some would be limited. Nonetheless, looking at the population with access to internet worldwide, it is huge and possibly we will get to see things developing further when it comes to adoption by these factions of people.

Bitcoin is still a working progress and there is no need to rush things, development has been ongoing, lightening network is believed would save the day in terms of scalability in the long run, and for sure, we will most definitely get to see a lot of improvement regarding adoption and usage as time goes by. Just a matter of time and patience!

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