Topic: How can we get people to use bitcoin as a currency? - page 54. (Read 52948 times)
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.
its hard to change what they think about bitcoin. people will do the easy way to get something, moreover that is money. and im sure that you earning bitcoin for money too.
but is there someone use bitcoin as currency. maybe they use it in offline, and when they want to buy something with crypto member
but is there someone use bitcoin as currency. maybe they use it in offline, and when they want to buy something with crypto member
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 if all the people adopted bitcoin as a new currency and not just investment, actually some country has their own machine for bitcoin like in Singapore and Japan, in Japan they accept bitcoin as their new currency so if this was implemented all over the world then it will became the universal money so you don't need to change your money so that you can use their money just bitcoin will do. Even online, there are only a few stores who are accepting it as payment.
It has just began. People now are beginning to recognize and get into Bitcoin day by day and in several countries it has been recognized as currency that Bitcoin is becoming means of transaction for purchasing and others. Of course it is need time to be have wider spread of the usage of bitcoin.
It began back when Silk Road was still operating, and ended shortly after that. We never managed to regain the share of actual currency use, and after so many years that's quite a disappointment in my opinion.We need the lightning network up and running and people to shift their focus more towards Bitcoin being a currency instead of an investment tool. I am confident that our patience will pay off, but it could take a couple of years.
People in third world countries are the first to adapt to the change with how they really need it, and for that reason I expect most of the growth to happen on that front. Bitcoin is there to 'bank' the unbanked.
If they are open minded and accept bitcoin to be an online currency that can be use for all people, we will share some knowledge to them to think positive that what bitcoin make us more easier when it comes in payable things so if they learn it immediately and understood then they will share it to everyone and everyone will accept bitcoin without a doubt.
It has just began. People now are beginning to recognize and get into Bitcoin day by day and in several countries it has been recognized as currency that Bitcoin is becoming means of transaction for purchasing and others. Of course it is need time to be have wider spread of the usage of bitcoin.
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.
It is to how much a local exchange could offer. I believe there is nothing global yet.
Services like water bills or electric bills payment could be a good way but as I said only local exchange could do such a thing.
All we can buy now are items and things that are in department stores. Person to person transactions can be done too. With large amounts of money that will be sent bitcoin is the answer to avoid being questioned. Western Union does that and would not make it happen.
Just think of it as a better WU.
This has been a rhetorical question for quite some time now, and as what I'm always saying, we need more places to spend, not the volatility to be gone. Bitpay and similar services exist, so there's really not enough reason for merchants to be scared of volatility if there are processors who handle those said issues. Most of the time, people use bitcoin for speculative purpose since the incentive is always present for them; opportunity to profit is never absent, but the places to spend those bitcoins are nonexistent, so they are only left with one economical and practical choice.
You can't stop volatility just like that. As long as large amounts will remain in the hands of whales, and as long as there are very few options to spend coins, without being forced to use an exchange, the volatility will be there. Typical fiat money will not enter the market affecting charts every time someone buys a plane or a yacht. It goes to the seller and the seller goes to another seller, who provides him with raw materials to start another project and pays his employees, who then go to another place to buy food and pay mortgage. A typical dollar bill can circulate for 10 years and never touch a currency exchange.
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 can get people to start using bitcoin by we begin to used it ourselves. Many of us has used bitcoin as a store of value and treat it like stock and commodity. I will advise that we should start telling people we meet daily of the advantages of using bitcoin and other cryptocurrencies. Even online, there are only a few stores who are accepting it as payment.
Volatility of bitcoin's value hinders it to become a currency. Bitcoin will never be deemed as a currency because of its fluctuating value. People are using bitcoin as an investment vehicle due to its unpredictable value that could potentially skyrocket in the near future due to its increasing mining difficulty and demand.
Bitcoin will forever be a great store of value and not a currency in the future. Maybe new crypto will become one but not bitcoin.
Bitcoin will forever be a great store of value and not a currency in the future. Maybe new crypto will become one but not bitcoin.
This has been a rhetorical question for quite some time now, and as what I'm always saying, we need more places to spend, not the volatility to be gone. Bitpay and similar services exist, so there's really not enough reason for merchants to be scared of volatility if there are processors who handle those said issues. Most of the time, people use bitcoin for speculative purpose since the incentive is always present for them; opportunity to profit is never absent, but the places to spend those bitcoins are nonexistent, so they are only left with one economical and practical choice.
I think the ease of getting bitcoin will actually help a lot in increasing the usage of Bitcoin as a currency and means of exchange. At present, the safest way of getting your hands on some Bitcoin is through exchanges, this is not ignoring or denigrating P2P arrangements in any way. If there are Bitcoin ATM in major cities, I understand there's a project called UniFox planning such, then it'll be easy to buy bitcoin and use them for transactions.
Secondly, another way to get people to use Bitcoin is to actually make people earn in Bitcoin (the attendant challenge with this being volatility/price fluctuations). But if people actually earn in Bitcoin, then they don't have to first convert their fiat to Bitcoin, before using them for payments and transactions or even investments needs.
Secondly, another way to get people to use Bitcoin is to actually make people earn in Bitcoin (the attendant challenge with this being volatility/price fluctuations). But if people actually earn in Bitcoin, then they don't have to first convert their fiat to Bitcoin, before using them for payments and transactions or even investments needs.
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 main trouble with using bitcoin as a currency lines with making other people forced to cash that out for whatever they are selling. If they are providing a service like me than they can take bitcoin and either keep it or sell it. Even online, there are only a few stores who are accepting it as payment.
However if they are selling something than generally they are also spending money on that as well, now if the seller buys that thing for 100 dollars and than sells it for 140 dollars worth of bitcoin thats fine, however sometimes bitcoin falls insanely and that person holds that bitcoin and now could be even losing money on the thing he sold.
This is not an investment for him, he just opted for a sale and provided a payment option to the buyer however if he did not cashed out it caused his business to take a big hit because of the drop in price.
What people do with a currency is another story. It won't change as long people have no advantage using it and/or no use of it. Why would a person moves to use 100% bitcoin if it doesn't give him something new (a low cost,...) and the same question if no shop accepts the crypto. It's all about getting an ecosystem to build around.
It is, but the problem with people here is that they are waiting for things to happen on their own, and it doesn't work that way. It's all about supply and demand; if the users (who represent the demand) aren't in the mood to spend their coins, why should merchants even bother accepting it?
I can guarantee you that Bitcoin (or basically any other crypto currency) causes more frustration for merchants than actual benefits. If a payment for whatever reason doesn't go through on time, people will contact the merchant in question, and what the heck is the merchant going to do? The merchant will then need to contact its payment gateway, etc. In other words, too much hassle for no reward at all.
The worst thing is that we haven't booked any progress throughout the last years in making Bitcoin become more of a currency.
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 came from you, currency is what you can used as a mode of payment but only few accepts it. The answer was when bitcoin become centralised and supported by the government you can easily used it as a payment of what you bought but for now its not because it was decentralised. Even online, there are only a few stores who are accepting it as payment.
Bitcoin is already a currency but it is not yet really used like the fiat currencies. The reason is that it is not yet supported everywhere as a payment method either online or offline. That is why people still considering Bitcoin mainly as an asset, they trade and hold it for making good profits.
What people do with a currency is another story. It won't change as long people have no advantage using it and/or no use of it. Why would a person moves to use 100% bitcoin if it doesn't give him something new (a low cost,...) and the same question if no shop accepts the crypto. It's all about getting an ecosystem to build around. 
My expectation is that it will continue to grow as a currency. As its adoption grows, it will lose its potential as a speculative investment, which will make it even more attractive as a currency. Contrary to what many people might think, there must be a limit to its future value, and once it reaches that value, there will be little motivation to own it as an investment.
Bitcoin BTC can be a currency only if its price is stable.
Not necessarily. If I'm not mistaken, payment processors like Bitpay convert to fiat instantly so that there's no exchange rate risk for the merchant to deal with.but i guess that sidesteps the whole "medium of exchange" question. if you need a third party to convert it into an actual medium of exchange, we haven't answered the OP's question.
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.
merchants will only use it if consumers actually use it. that's why lots of merchants have waffled on accepting bitcoin over the years. there just isn't much consumer demand. people are happy to use credit cards or cash apps. in most cases, i personally prefer credit cards over bitcoin---i get cash back and i have consumer protection.
sometimes i wonder how much of bitpay's volume is just investors taking profits by spending. i can't imagine many people buy bitcoins just for the sake of spending them on consumer goods that are available anywhere.
It will be time, all people in next 10-15 years will turn out in to crypto users. Just buy pop corn and watch...
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.
The initial principle attached to Bitcoin is that the currency that Satoshi Nakamoto launched to advance from fiat before and its usefulness made it very easy for users, what happens now is that there are still no deeper Bitcoin recognized by countries that have a big influence on the economy, legality it is still not clear that there are several marketplaces that use crypto as a payment tool but it is not known globally, maybe over time it can happen but does not replace Fiat just as an alternative to be easier, being a medium of exchange can be used by certain people so don't too worried about that, Bitcoin is very good as a profitable digital asset in the future. Even online, there are only a few stores who are accepting it as payment.
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