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Topic: People are underutilizing Bitcoin - page 3. (Read 2030 times)

sr. member
Activity: 1190
Merit: 253
December 23, 2019, 09:54:14 AM
I think we need to circulate the Bitcoin. If you want Bitcoin to be more healthy and active, somehow we need to circulate it through merchants who offer services or products that need bitcoins as payments. That is the true essence of Bitcoin's existence. To be an alternative medium of payment in every transaction.
hero member
Activity: 1862
Merit: 574
Leading Crypto Sports Betting & Casino Platform
December 22, 2019, 12:36:47 PM
I agree to it. If you see most people who say "Bitcoin is for future and fiat is trash" and then see the hypocrisy when they turn their crypto for cash when they make profits in crypto. it's saddening that it's causing crypto to not have intrinsic value as everyone using it only as a mean to profit more.
I think people are still using Fiat because the level of bitcoin usage hasn't reached a big adoption. and most of the needs still use FIAT for transactions, so the use of bitcoin will be more widely used if the adoption is comprehensive in this world. and when that happens, bitcoin can be used in many places and not just to find profits from investments or daily trading
newbie
Activity: 26
Merit: 14
December 22, 2019, 11:30:04 AM

People need to start accepting Bitcoin and keeping it, not converting it. 

It won't be possible until prices stabilize. You can't buy in $, sell in btc, and see how btc drops 50%
full member
Activity: 1022
Merit: 133
December 22, 2019, 09:52:45 AM
I agree to it. If you see most people who say "Bitcoin is for future and fiat is trash" and then see the hypocrisy when they turn their crypto for cash when they make profits in crypto. it's saddening that it's causing crypto to not have intrinsic value as everyone using it only as a mean to profit more.
sr. member
Activity: 574
Merit: 267
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December 22, 2019, 09:42:22 AM
Full article: https://www.forrestvisions.com/blog/people-are-underutilizing-bitcoin

People need to start accepting Bitcoin and keeping it, not converting it.

If you think of Bitcoin as just a virtual placeholder for fiat currency, stable coins will be the future and Bitcoin will slowly fade away.


Thoughts?
Bitcoin has not become a universally accepted means of payment in the world. During these ten years, it was generally used as a speculative means for profit. However, this is not the main and especially not the only function of bitcoin. Now, like all decentralized cryptocurrencies, he will have to compete with stable state coins and I’m not sure that Bitcoin can withstand such competition.

Competition is always nice because it gives people options. If bitcoin can be accepted for its properties then It can succeed, however if people only look at it for the pegged fiat then it will have some trouble.
We cant deny that fact that bitcoin sometimes are being underutilized because of its limitation.  Bitcoin was not that fully accepted as a currency compare to fiat which you can used in your daily living but what good to it was it gives profit to us.  Bitcoin has also big benefits that can help you financially it has also advantages like what is written in the article. 
full member
Activity: 1708
Merit: 125
www.positivebetting.com
December 22, 2019, 08:38:25 AM
Full article: https://www.forrestvisions.com/blog/people-are-underutilizing-bitcoin

People need to start accepting Bitcoin and keeping it, not converting it.

If you think of Bitcoin as just a virtual placeholder for fiat currency, stable coins will be the future and Bitcoin will slowly fade away.


Thoughts?
Bitcoin has not become a universally accepted means of payment in the world. During these ten years, it was generally used as a speculative means for profit. However, this is not the main and especially not the only function of bitcoin. Now, like all decentralized cryptocurrencies, he will have to compete with stable state coins and I’m not sure that Bitcoin can withstand such competition.

Competition is always nice because it gives people options. If bitcoin can be accepted for its properties then It can succeed, however if people only look at it for the pegged fiat then it will have some trouble.
sr. member
Activity: 2352
Merit: 245
December 18, 2019, 03:02:07 PM
Full article: https://www.forrestvisions.com/blog/people-are-underutilizing-bitcoin

People need to start accepting Bitcoin and keeping it, not converting it.

If you think of Bitcoin as just a virtual placeholder for fiat currency, stable coins will be the future and Bitcoin will slowly fade away.


Thoughts?
Bitcoin has not become a universally accepted means of payment in the world. During these ten years, it was generally used as a speculative means for profit. However, this is not the main and especially not the only function of bitcoin. Now, like all decentralized cryptocurrencies, he will have to compete with stable state coins and I’m not sure that Bitcoin can withstand such competition.
sr. member
Activity: 1050
Merit: 277
December 18, 2019, 02:43:14 PM
Because most people see noy the profit potential of bitcoin and are here only for the money using bitcoin as an investment tool instead of a currency which it is. I wonder if this kind of people has ever made a bitcoin purchase? Will they just keep buying bitcoin selling and rinse repeat and never actually use it? This is what many users here do and I think it is a problem.
full member
Activity: 1708
Merit: 125
www.positivebetting.com
December 18, 2019, 02:21:14 PM
Bitcoin is a very risky money. Bitcoin price is constantly moving. $ 1000-wide movements are happening very quickly. How to trust such a vibrant market. People are afraid to use bitcoin. The market needs to become more stable.

If people are waiting for the price to not move, then what is the advantage over a stablecoin? If you are worried about the pegged USD value of a bitcoin, then what is the real difference?
sr. member
Activity: 840
Merit: 253
December 16, 2019, 03:37:22 PM
Bitcoin is a very risky money. Bitcoin price is constantly moving. $ 1000-wide movements are happening very quickly. How to trust such a vibrant market. People are afraid to use bitcoin. The market needs to become more stable.
full member
Activity: 756
Merit: 104
December 16, 2019, 12:51:44 PM
Personally I think of Bitcoin like at as an store-of-value and not a currency.  The scarce characteristic of Bitcoin and its functionalities make it a good solution for wealth preservation and once the market matures I'm sure it will be highly utilised as a method of payments as well. Now the volatility is too high for merchants and businesses to accept direct payments, unless they are looking to keep it for future appreciation.

Regarding stable coins we don't have any stable currency that I would use. I don't want crypto backed by garbage fiat currencies like dollars, yen, etc.

I agree with some of this. Bitcoin now only needs to be on its own. There should be no dollar or euro. Those who trade with Bitcoin should not convert their bticoins into dollars. I don't think Bitcoin will disappear. There are many reasons to use Bitcoin.
legendary
Activity: 2310
Merit: 1035
Not your Keys, Not your Bitcoins
December 16, 2019, 12:34:04 PM
Personally I think of Bitcoin like at as an store-of-value and not a currency.  The scarce characteristic of Bitcoin and its functionalities make it a good solution for wealth preservation and once the market matures I'm sure it will be highly utilised as a method of payments as well. Now the volatility is too high for merchants and businesses to accept direct payments, unless they are looking to keep it for future appreciation.

Regarding stable coins we don't have any stable currency that I would use. I don't want crypto backed by garbage fiat currencies like dollars, yen, etc.
sr. member
Activity: 2366
Merit: 448
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December 16, 2019, 12:33:35 PM
Actually it all depends on those who use it and their right to use bitcoin on their own terms because it belongs to them, and what is the point of bitcoin being called an alternative payment if they are not used as an alternative payment or convert it into fiat currency to be used as any payment.
and I will personally do the same thing and only use it if necessary and only as needed because I prioritize savings because I am sure in the future bitcoin will be much better and more profitable.
sr. member
Activity: 1820
Merit: 436
December 16, 2019, 12:26:25 PM
Full article: https://www.forrestvisions.com/blog/people-are-underutilizing-bitcoin

People need to start accepting Bitcoin and keeping it, not converting it.

If you think of Bitcoin as just a virtual placeholder for fiat currency, stable coins will be the future and Bitcoin will slowly fade away.


Thoughts?
I think bitcoin in this days are meant to be converted since the bitcoin was not yet used or completely use in a lot of countries in the world, we also know that there are only a small number of popular companies that completely uses bitcoin as an asset or even as a method of payment to transact. Since a lot of countries are using a fiat money as their number one currency I think it was just normal to convert our bitcoin into cash because it was the best way to use bitcoin as money we cannot fully use bitcoin or mark a profit in investing in bitcoin but I think using this method bitcoin could fulfill both digital currency and an investment for the cryptocurrency community.
full member
Activity: 1708
Merit: 125
www.positivebetting.com
December 16, 2019, 11:44:16 AM
Because most of the people see bitcoin as something related to stocks. They don't focus on the purpose of it and the technology behind it. And I think it sucks because bitcoin is more than an investment that you can hold on for years and wait for it to grow while you are dreaming of a big house. May the government allow it to be used on things such as payments.

We can just use exchanges if they are not in favor of it. Government do not like these things to start with and even if they accepted it, it will also based on the people if they want to use it. In our country, crypto currencies are not actually banned but here in our place, I don't see anyone using it so exchanges is my partner here.

I am not sure what you are saying here.
sr. member
Activity: 1638
Merit: 300
December 14, 2019, 05:46:34 PM
Because most of the people see bitcoin as something related to stocks. They don't focus on the purpose of it and the technology behind it. And I think it sucks because bitcoin is more than an investment that you can hold on for years and wait for it to grow while you are dreaming of a big house. May the government allow it to be used on things such as payments.

We can just use exchanges if they are not in favor of it. Government do not like these things to start with and even if they accepted it, it will also based on the people if they want to use it. In our country, crypto currencies are not actually banned but here in our place, I don't see anyone using it so exchanges is my partner here.
full member
Activity: 1708
Merit: 125
www.positivebetting.com
December 14, 2019, 05:20:20 PM
Because most of the people see bitcoin as something related to stocks. They don't focus on the purpose of it and the technology behind it. And I think it sucks because bitcoin is more than an investment that you can hold on for years and wait for it to grow while you are dreaming of a big house. May the government allow it to be used on things such as payments.

This is certainly a problem in the cryptocurrency market that a lot of people over look, or just don't want to admit.
full member
Activity: 840
Merit: 101
December 10, 2019, 11:59:05 PM
Because most of the people see bitcoin as something related to stocks. They don't focus on the purpose of it and the technology behind it. And I think it sucks because bitcoin is more than an investment that you can hold on for years and wait for it to grow while you are dreaming of a big house. May the government allow it to be used on things such as payments.
sr. member
Activity: 756
Merit: 252
December 10, 2019, 11:30:26 PM
There are not many merchants globally that are accepting crypto as payment option. Moreover, use of crypto is also ban in many countries (for example China) and in such areas people are HODLing Bitcoin just from investment point of view as they dont have any option to use it. I guess as acceptance for bitcoin will increase we will see more transactions of crypto.

Basically the term underutilizing bitcoin could be the primary reason why these countries mainly ban these cryptocurrencies. Let say, if the citizens aren't using bitcoin responsibly, such as always gambling, buying illegal items, (In which I highly consider as underutilization of bitcoin or using it in a negative way) it could lead to the government taking actions to prevent further harm to their people and especially to their monetary system or in their economy. To avoid these, we should start to be responsible for our selves first and apply good principles that we could share so others could be responsible as well.
Any form of money is just a tool, trying to blame the tool for what people are doing with it is senseless and governments know that, but they do not mind that because they can use that as an excuse to try to regulate bitcoin but unfortunately for them it doesn't matter what they do bitcoin is never going to bend to their rules and eventually they are going to need to accept it as a legitimate form of currency, it is understandable that some people are mad that more people are not using bitcoin as a currency and are just speculating with it but it makes complete sense, the best use for bitcoin right now is as a speculative asset and that is also one of the functions of currencies.
sr. member
Activity: 1274
Merit: 278
December 10, 2019, 11:15:08 AM
There are not many merchants globally that are accepting crypto as payment option. Moreover, use of crypto is also ban in many countries (for example China) and in such areas people are HODLing Bitcoin just from investment point of view as they dont have any option to use it. I guess as acceptance for bitcoin will increase we will see more transactions of crypto.

Basically the term underutilizing bitcoin could be the primary reason why these countries mainly ban these cryptocurrencies. Let say, if the citizens aren't using bitcoin responsibly, such as always gambling, buying illegal items, (In which I highly consider as underutilization of bitcoin or using it in a negative way) it could lead to the government taking actions to prevent further harm to their people and especially to their monetary system or in their economy. To avoid these, we should start to be responsible for our selves first and apply good principles that we could share so others could be responsible as well.
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