Topic: Many people think that Bitcoin is not a currency with practical uses (Read 662 times)
April 09, 2021, 11:59:27 AM
As we all know, bitcoin is not a legal currency yet and that makes it unqualified on practical uses already. The government still wouldn't agree to legalize it considsering its features that hinders them to benefit from it. Also, over the years, bitcoin ended up becoming an investment of many considering its volatility and capability to have its value keep on increasing over time. It ended being exchanged on user to user basis. Who knows what the future hold? Maybe that statement would change as bitcoin gets revolutionized as it gets more convenient and timely to use.
April 09, 2021, 10:40:41 AM
I am in the camp that bitcoin needs to be used as a currency for it to have long term success. When people say that bitcoin is only used as a currency in illicit situations is simply flat out false. I personally use bitcoin all the time for all sorts of different things that are NOT illegal. Most of the time when people say this they are simply hating on bitcoin because it goes against their view of how money should work.
April 09, 2021, 10:22:38 AM
Bitcoin is just an imaginary coin to the people who don't have it already even though it does not already exist as a physical coin but can be used in the digital world so nothing too much difference you can use now the bitcoin the same as the fiat currency. As you see the bitcoin now is going to adopt different aspects. Like today the bitcoin ATM is one of the popular ones. So it's better to have an early opportunity so you don't need regrets soon.
April 09, 2021, 04:02:38 AM
Let them think what they think, everyone is entitled to their opinion so I don't think that we should worry about it, the important thing is that the truth will come out no matter what and that's the time that we are going to know who is right and who is wrong. In this current bitcoin landscape, I am leaning on the fact that bitcoin still hasn't reached its full potential yet, that is why it has no other practical uses besides being a medium of transaction and an asset.
April 09, 2021, 03:43:05 AM
I won't even disagree that bitcoin is mostly used for speculation, because it's a pretty safe assumption. But even so, let's not pretend that it's not being used as a currency and as a store of value. Are we going to totally ignore it's important uses just because a lot of people use it for speculation?
As for the typical I've-seen-this-a-million-times bubble question, sure. It has bursted a couple of times in the past already. But every single time, the price floor has been higher.
As for the typical I've-seen-this-a-million-times bubble question, sure. It has bursted a couple of times in the past already. But every single time, the price floor has been higher.
No matter what other people say, I researched about bitcoin and I'm using it on how it is being utilized properly.
I'm benefiting bitcoin for so many years and it really a good thing for me.
I'm using it as an investment tool, and safe haven for my assets and we really have different preferences or strategies on how we will make a certain coin profitable for us.
April 09, 2021, 12:19:59 AM
Bitcoin is not only for speculative tool, we know how beneficial bitcoin can be, there are a lot of things that we can do with the use of bitcoin and as Satoshi Nakamoto's intention of creating bitcoin, it is not about speculation. Bitcoin is now being used for so many things, we can now use it for online payment, sending money to our relatives, paying bills, investment, and trading purposes to earn money. A lot of people are now using bitcoin for those purposes and I never think that bitcoin is only for speculative tools.
We also see that a lot of companies already accept bitcoin as a means of payment and there are already some who bought huge bitcoin for good investment.
We also see that a lot of companies already accept bitcoin as a means of payment and there are already some who bought huge bitcoin for good investment.
April 09, 2021, 12:17:48 AM
"In fact, it is not used much in the legal economy now. Yes, a rich man sells it to another rich man, but this is not the end use. Without these uses, it has no long-term future. ," Rogoff said. In other words, Bitcoin currently exists almost exclusively as a speculative tool.
So, is the Bitcoin bubble about to burst?
So, is the Bitcoin bubble about to burst?
NO, bitcoin bubble you mean the price will go up to $ 100k and then they will sell, but obviously it will go back up to more than $ 200k according to the S2F model. Because Bitcoin is not a bubble and I think that they have already clarified that, this would be the second stage that the Bitcoin market reaches Distribution, and apparently it has not yet entered a bullish trend. There is still a long way to go, and it may be like in 2017 for this 2021 in December we will be able to see a new ATH much bigger, at least I think that can happen.
April 08, 2021, 09:24:31 PM
I don't blame anyone for saying that Bitcoin is impractical as a currency, because it is like that. Not all countries legalize Bitcoin as payment,
not to mention finding merchants that accept Bitcoin payments is not easy. Using Bitcoin for payments must understand technology, and there
are many more reasons why Bitcoin is not practically used as a currency. I myself prefer to use Bitcoin as an asset rather than having to use it
as payment.
not to mention finding merchants that accept Bitcoin payments is not easy. Using Bitcoin for payments must understand technology, and there
are many more reasons why Bitcoin is not practically used as a currency. I myself prefer to use Bitcoin as an asset rather than having to use it
as payment.
April 08, 2021, 07:44:39 PM
But nevertheless, many companies and stores provide the opportunity to pay for goods and services using bitcoin.
that is, bitcoin can be used as an alternative payment, this is a real function. You can use bitcoin anywhere when you travel abroad, as long as the facilities, infrastructure, and support, whereas if you use fiat you have to exchange it with the currency applicable in that country.see? very effective right? It's just about time, the longer it will be an attractive option and many people realize that this is not a bad choice as long as we fully understand its functions and risks.
April 08, 2021, 11:19:33 AM
Funny because in these past months I've been making trade online using cryptocurrency and it's really seamless without any centralized company or government intervention whatsoever.
Most of merchants that I know also seem to prefer crypto nowadays, doesn't want to get in problem with company like paypal with their ridiculous ToS.
even if I'm being frank paper money has way less practical uses than cryptocurrency considering it can't be transferred easily without using third party services like bank, maybe they're just blind.
Most of merchants that I know also seem to prefer crypto nowadays, doesn't want to get in problem with company like paypal with their ridiculous ToS.
even if I'm being frank paper money has way less practical uses than cryptocurrency considering it can't be transferred easily without using third party services like bank, maybe they're just blind.
Then you have to be trading some expensive goods since you have to pay at least $10 to pay with Bitcoin. That doesn't mean bitcoin is impractical, on the contrary, it's a great way to keep the government off your back.
In many African countries people were forced to pay with their phone minutes for goods because their fiat money was so worthless. If we account for that then bitcoin is surely better than minutes
April 08, 2021, 10:32:04 AM
But nevertheless, many companies and stores provide the opportunity to pay for goods and services using bitcoin.
It's not anymore hidden cases, rather it's open secret the uses of Bitcoin. Full of excitement in my heart now that big institutions, companies are showing their interest over Bitcoin. ex. Anyone can purchase Tesla with Bitcoin like so numerous chance out there. Developed countries as of now receive this things and other in the processing. April 08, 2021, 12:22:18 AM
I think as long as the concept of speculation makes sense in society, bitcoin will also live, especially since many global corporations have joined its HYIP, which only reinforce its position in the market, but nevertheless all this may end at one moment and we will remember about it as one of the biggest scams of the century ...
April 07, 2021, 02:42:54 PM
"In fact, it is not used much in the legal economy now. Yes, a rich man sells it to another rich man, but this is not the end use. Without these uses, it has no long-term future. ," Rogoff said. ...//...:
The first thing to understand with this comment is that they tend to be scarce or diminish. Several economists and experts have turned to bitcoin and had similar opinions.
...//...:So, is the Bitcoin bubble about to burst?
I think it is a conjecture that loses "air" for that bubble that has remained as an old premise against bitcoin.
The Bitcoin currently has other numbers that include other types of investors as well, it is no longer just a network that has a group of individuals doing bitcoin exchange.
April 07, 2021, 12:22:29 PM
"In fact, it is not used much in the legal economy now. Yes, a rich man sells it to another rich man, but this is not the end use. Without these uses, it has no long-term future. ," Rogoff said. In other words, Bitcoin currently exists almost exclusively as a speculative tool.
So, is the Bitcoin bubble about to burst?
So, is the Bitcoin bubble about to burst?
I don't understand this kind of people as there are already places for using Bitcoin as a payment method. We can even buy a car with it now thanks to Tesla. And I believe the number of places will continue to increase like now. So, it is not just an investment tool. Maybe years ago it was, but not anymore.
They are the type of people who uses Bitcoin but in denial that it would further progress in our daily lives. Bitcoin has already come a long way and its really weird that people are just asking if Bitcoin is just a bubble. If its a bubble then that is surely one hard bubble that cannot be popped. Its value is volatile and people needs to understand that its value will increase and decrease at different points in time but we should be thankful that Bitcoin is something we can earn and use to supplement our daily needs.
The argument had been around for so long that even Micheal Saylor had been challenged by people who advocate Gold is better than BTC because Bitcoin has no use but just a store of value.
They are correct at some point but BTC isn't just a store of value if they would just look at it with decentralization and security will be the main discussion. BTC is the most decentralized of all.
April 07, 2021, 12:15:17 PM
it is still too difficult to accept bitcoin as a payment legally, many countries have not allowed it and there are still some companies that are new to implementing bitcoin payments
April 07, 2021, 09:39:57 AM
"In fact, it is not used much in the legal economy now. Yes, a rich man sells it to another rich man, but this is not the end use. Without these uses, it has no long-term future. ," Rogoff said. In other words, Bitcoin currently exists almost exclusively as a speculative tool.
So, is the Bitcoin bubble about to burst?
So, is the Bitcoin bubble about to burst?
I don't understand this kind of people as there are already places for using Bitcoin as a payment method. We can even buy a car with it now thanks to Tesla. And I believe the number of places will continue to increase like now. So, it is not just an investment tool. Maybe years ago it was, but not anymore.
They are the type of people who uses Bitcoin but in denial that it would further progress in our daily lives. Bitcoin has already come a long way and its really weird that people are just asking if Bitcoin is just a bubble. If its a bubble then that is surely one hard bubble that cannot be popped. Its value is volatile and people needs to understand that its value will increase and decrease at different points in time but we should be thankful that Bitcoin is something we can earn and use to supplement our daily needs.
April 07, 2021, 08:04:54 AM
Let them think that way because no one can change their mind except themselves, this kind of people are going to hate and reject bitcoin even if it reaches the 7 digit prices. Techinically speaking, bitcoin doesn't have any other practical use besides investment and a mode or object of payment, anything other than that isn't practical.
April 07, 2021, 06:51:55 AM
Because the number of countries that accept Bitcoin as a currency is very small, most countries that legalize Bitcoin only accept Bitcoin as
an asset like Gold. Therefore it is very normal for many people to think Bitcoin is not a currency, especially merchants who accept bitcoin
payments are still small too. Then the Bitcoin price is still very volatile until now, all the things that I have mentioned ultimately make Bitcoin
impractical to use as currency. Finally, many people are still more comfortable and practical using fiat as payment.
an asset like Gold. Therefore it is very normal for many people to think Bitcoin is not a currency, especially merchants who accept bitcoin
payments are still small too. Then the Bitcoin price is still very volatile until now, all the things that I have mentioned ultimately make Bitcoin
impractical to use as currency. Finally, many people are still more comfortable and practical using fiat as payment.
April 07, 2021, 06:41:32 AM
Bitcoin is such a they said but believe me that been a speculative assets has more value than the regular fiats, these are many more evidence that the world has seen that made me said, the world should embrace the speculative asset and help in it development that will push it into the global level that will accept it use as currency which will now have a practical use. IMO bitcoin is a currency but not be accepted practically.
April 07, 2021, 06:26:09 AM
"In fact, it is not used much in the legal economy now. Yes, a rich man sells it to another rich man, but this is not the end use. Without these uses, it has no long-term future. ," Rogoff said. In other words, Bitcoin currently exists almost exclusively as a speculative tool.
So, is the Bitcoin bubble about to burst?
So, is the Bitcoin bubble about to burst?
i bought pizza with bitcoin last week... seems real to me
Good timing, you saved some
Anyway back to the topic just get a bbinance card ( it's basically free of charge nowadays ) and show them how easy is to spend nowadays.
Jump to: