Topic: How can we get people to use bitcoin as a currency? - page 9. (Read 52960 times)

Completely agree with you mate. Bitcoin cannot be used as a currency with exorbitant fees. It serves well as a store of value than anything else. Luckily, there are second-layer solutions in development with the purpose of reducing fees and increasing transaction speeds for enabling micropayments worldwide. If successful, you could expect Bitcoin to rival traditional payment processors as we know them. The main advantages of centralized payment systems are instant transactions and low fees. Once Bitcoin's Lightning Network becomes adopted massively by people in the mainstream world, it could stay in par with traditional payment processors.

But to drive mainstream adoption into Bitcoin, we need to do our part to promote it as much as possible. Talking about its benefits to other people is key towards long-term success. If we don't do anything about it, we can't expect mainstream adoption to come out of thin air. Right now, most people use Bitcoin for daily transactions on top of the Lightning Network. If we want micropayments within BTC to become viral, we should encourage other people into using the Lightning Network in the first place. Otherwise, people won't be aware that they can send instant transactions at a very low cost.

Nonetheless, as we spread the word about Bitcoin, people will become curious about how it works. Of course, governments and mainstream media have taken their part to talk about the negative aspects of the pioneer cryptocurrency. But that's where we come in as loyal supporters of the largest Blockchain in the world. As long as, devs focus on ease-of-use, people will be able to use Bitcoin as a currency more thoroughly. Just my thoughts

If you want to encourage other from using bitcoin then you need to explain the advantage of bitcoin where you can help them from using it so at least they understand on why they need to use it.  There are a lot of advertisement of bitcoin that some of people do not know about this that's why some of they are don't interest on it because they not really know the idea on bitcoin.

Even those who are not using bitcoin have high hopes from this currency and the technology it uses. On daily basis there is news of multinational brands or companies using bitcoin for making payments or as means of investments which clearly depicts that bitcoin has acceptance by people. As you said, it is going to be used as both investment and mainstream mode of payments in the coming years.

The governments will never allow Bitcoin to be used as a currency, because it represents a real threat to the respective national currencies and government's control over the population. They are tolerating the usage of cryptocurrency now, because it is mostly being used as an investment asset. If the usage pattern changes, then the attitude of the government may also change.

Many reply have give opinion out from what the OP ask with his topic, bitcointalk member want give opinion but have out from what writer want, bitcoin can use as currency if get allowed from government and people have use bitcoin with higher population, if still less people use bitcoin maybe not available if make bitcoin become as currency.

I figured out myself, I was interested in cryptocurrencies from the first day I saw it. I tried to pass the word among people I know, but they didn't want to follow me. At that time Bitcoin price was $500, more or less, like you know the price fluctuates all the time. Now they regret, some of them openly, some hide it, but I can notice that.
People who like cryptocurrencies and understands them will join the community and they will find a way to earn and use cryptocurrencies. Others will accept it when the time comes and when they stay out of choice.

There are not more because people dont spend enough Bitcoin. As soon as people will massively spend Bitcoin there will be tons of merchants accepting Bitcoin.  I personally used Bitcoin a lot in 2017. Right now I avoid that and rather buy more. But that is my strategy.

The major problem is that there aren't much vendors or merchants around the world that accept bitcoin as a mode of payment. Moreover, there are countries where crypto aren't even legal tender. Such things limit Bitcoin use as a currency. Moreover, the ROI that Bitcoin gives exceeds the returns from any other asset. So, people instead of using Bitcoin as a mode of payment, believe in holding it. I think, if there are enough merchants in the city who accept Bitcoin, there would be a boost in people using Bitcoin as a currency.

People lack basic knowledge regarding the benefits of this technology otherwise the instability is not an issue at all. People are highly interested in huge profits and bitcoin is making this true for them. Sacred people shall read success stories of bitcoin users and if they don’t want to use it as a currency, they can like most of the world use it as mode of investment. We just need to spread knowledge about bitcoin.

I don't think it's a matter of the income, but more of them don't accept bitcoin as payment is volatility and high fees. before I used bitcoin as payment on steam, but after that steam announced that it no longer used bitcoin as payment due to volatility.

When you show off with your earning with bitcoin I think will possible get bitcoin as currency payment for the future with higher price of your coin, many people want to use bitcoin as currency payment with many costumer always ask with their water. Now with bitcoin have been legal in Aceh make many people worried can make withdrawal or not.

You are right in that if bitcoin does not function well as a medium of exchange it is doomed to be a pure greater fool game, as gold and other things are now. but something can only be a medium of exchange if all parties making a transaction agree bitcoin has some value. since the value must be present first, i’d argue the value is primary.

In my opinion Bitcoin can be, if not crippled by developers, the BEST medium of exchange ever created. i think that in itself can greatly magnify the size and resiliency of the user base and therefore the value of a bitcoin. making bitcoin the best medium of exchange it can be should be the top priority of the developers and we can say that while acknowledging that it's primary purpose is a store of value not backed by debt and bank bailouts.

People only starts to use crypto as currency then whey cant use fiat. Venezuela and Iran are the great example

most people use bitcoin as an investment and also as a livelihood. including me, use bitcoin for investment, because I can't do many things to use bitcoin as a transaction, there aren't many places in my country that accept payments using bitcoin because in my country bitcoin isn't legal.

Personally, I don't also use bitcoin in my daily transactions; I treat it like a type of investment. I am sure many people here like me are holding/using bitcoin for a very long time. But still not using it as currency to pay for their grocery or something. Bitcoin is like stocks. You treat it as an investment because the pumps and dumps of it are very cool to take advantage of and to gain profit.

The major stuff why people don't use bitcoin as real currency - not stability in price and it makes people scared to start to use cryptocurrencies in a daily way. In addition in some countries using cryptocurrencies prohibited.

Let's not be greedy about the profits we are making whenever the price goes where we want it, miners do also want profits, not just us. The higher transaction fee we pay, the fastest transaction we could get, why would someone choose a transaction fee that's cheap but the transaction speed is slow, also transaction fees are based on the supply and demand of bitcoin, just saying.

I don't think everyone will be willing to and or maybe no one will be willing to spend a fee as big or as expensive as that for only one transaction. But, to anticipate this there are still at least a lot altcoins or other cryptos that have lower or cheaper fees as an alternative, but on this matter I only assume if the price is more stable then maybe there will be many marketplaces who are willing to use bitcoin and maybe because the price is also unstable which makes it difficult for bitcoin to be used as a currency.

I can see that the discussion got diverted from the original topic. The OP was asking how to encourage Bitcoin users to treat BTC as a currency, rather than as an investment asset. First of all, the transaction fee needs to be reduced to a sustainable level, if we want BTC to be used for payment purposes. With Paypal having a minimum fee of $0.30, do you think that a lot of people would be willing to pay $3 per transaction for using Bitcoin?

That is what I've said, or you didn't understand the whole thing I've said, that tragic thing you have mentioned that happened in Venezuela for them to abandoned their currency is inflation, therefore that is the main reason why their currency become worthless, yes, I've said that loud in clear or you're just one of those spammers who are not reading post or doesn't have any academic understanding, so you just post whatever you wanted to post.

E D I T: Please read carefully before giving out your opinion, repeating what's already been said, I mean with the same thought are considered spamming