Topic: People are underutilizing Bitcoin - page 7. (Read 2030 times)
Bitcoin is becoming more popular, I think just need to give more time to people to accept it.
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?
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?
What you're saying is undoubtly true. However, how are you going to convince people to do this?
It's easy enough to say it, but it's another thing completely for actual, practical use of BTC to be fostered.
I think that one of the most important things right now is the fact that people are only accepting BTCs through merchants - as opposed to accepting it directly through an integrated BTC accepting protocol. These merchants are essentially middlemen that we were supposed to eliminate in the first place, like Bitpay or whatever. That introduces the fiat part of the equation back into BTC, and makes no sense.
we know that most of the holders of bitcoin only use bitcoin as an investment tool to make more fiat money. they do not use bitcoin as a means of payment because indeed some countries in the world also have not legalized bitcoin as a means of payment. and also quite difficult to be able to find a store or company that is willing to accept bitcoin as a payment tool. if I live in a country that legalizes bitcoin, of course I will use bitcoin. therefore we as part of the bitcoin community we must always spread good news about bitcoin so that bitcoin can be accepted by the government and bitcoin can be adopted en masse.
Yes we need to accept the fact that bitcoin is not used as a mode of payment or payment transfer as there are other altcoins which offers lightening fast translations with lesser transaction fee than bitcoin which has reduced bitcoin just as a source of investment which is not exactly the principle on which bitcoin was created by Satoshi Nakamoto but as you rightly mentioned there are challenges to use bitcoin in real time due legal issues which will be sorted out once we have more adaptability.
The correlation of stable coins does not mean much because conversions are only for a stable price level, but bitcoin cannot be based solely on saving it, because bitcoin conversion activities always support value growth. there are many holders who prioritize the possibility of bitcoin is no longer the best crypto in the future, so the activity must continue to be carried out always balanced in both functions.
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?
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?
Even if Bitcoin will turn out more of a store of value than a currency, there is still no way that stablecoins will take over the future. Stablecoins will wither along with fiat because they are based on fiat. Bitcoin will not fade if people will treat it as an asset or a digital gold. It is being treated like that today and instead of fading, it is in fact growing in value.
Before talking about bitcoin has to be used only as currency not as trading asset,we need to have places to spend it for that government need to accept it as legal tender,some governments made bitcoin legal but not as for of currency yet anywhere.So the real solution could be influence the government to change their attitude towards crypto users and don't ask for huge taxes for using bitcoins.
Well, in the absence of places to spend it, we should ask merchants to accept it, and ask our friends to pay us.
I read that in places people accept Bitcoin, people get bigger tips. Or offer customers bigger discounts. This is the way to encourage and motivate them.
Don't wait on governments man this will never happen, why would they endanger themselves and their currencies?
we know that most of the holders of bitcoin only use bitcoin as an investment tool to make more fiat money. they do not use bitcoin as a means of payment because indeed some countries in the world also have not legalized bitcoin as a means of payment. and also quite difficult to be able to find a store or company that is willing to accept bitcoin as a payment tool. if I live in a country that legalizes bitcoin, of course I will use bitcoin. therefore we as part of the bitcoin community we must always spread good news about bitcoin so that bitcoin can be accepted by the government and bitcoin can be adopted en masse.
In my country there are stores that accepts bitcoin already, but only few uses it. Im planning to hold on to my btc as I see it arise before but was not able to convert it, so all I can do is wait. However if buying small amounts I pay btc when available just to test how it works and there are some customers who will be amazed and tries to know how it works. 
Bitcoin must be collected and converted, traded and use at the store for goods and services. This is how the true value will be determined and will keep adding value as it finds more utility and not just to buy and keep, it will lead to stalling and be almost worthless. We need more users.
Talking of conversion, you and I know that the only currency that many people still convert bitcoin to is the fiat and by doing so, we are still support of government which is one of the reason why you see that government does not even bother themselves again about this cryptocurrency because they know that the money will still pass through fiat and the conversion from crypto to it will still make it to be stored in the traditional bank, but if we really want to support bitcoin and we want the value to grow, we are supposed to be collecting it and then storing the ones that we are not transacting with in our wallet just like we keep the fiat that we are not using presently in our bank. If we keep our coin in wallet, it will make the rate at which the market cap reduced to slow down. 
we know that most of the holders of bitcoin only use bitcoin as an investment tool to make more fiat money. they do not use bitcoin as a means of payment because indeed some countries in the world also have not legalized bitcoin as a means of payment. and also quite difficult to be able to find a store or company that is willing to accept bitcoin as a payment tool. if I live in a country that legalizes bitcoin, of course I will use bitcoin. therefore we as part of the bitcoin community we must always spread good news about bitcoin so that bitcoin can be accepted by the government and bitcoin can be adopted en masse.
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?
but in reality only a few people actually save bitcoin, others only use bitcoin to hope to get more FIAT money. 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?
It just depends on the mindset of everyone, there are also those who are indeed hindered by economic conditions that make it unable to save bitcoin for the long term.
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?
It's the issue with people's mindset, that's what it comes down to. When bitcoin rose to fame after it was classified as one of the best investments by the media, during the bull period, a lot of investors entered the market with the single mindset to make money, not to promote BTC adoption, or use it, just for BTC to go up and for them to get rich.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?
It's going to be hard to shift people's opinion of it being just a storage of value or an investment option, or a get rich quick scheme and get them to actually spend the coin, but it's doable and it's going to be what it takes in the future.
[People are underutilizing bitcoin because the government itself is not allowing people to use it as a legal currency and some countries are even banning the use of bitcoin. But thanks to bitcoin because even if we can't use it as a currency, having it as an investment is truly a blessing.
Basically even if the government ban the use of cryptocurrency, people still have the chance to utilize bitcoin in other ways. Or they can use VPN to transact using bitcoin so the restriction in their transaction will not be possible, in other case, if it is really hard for them to transact, they can still utilize it through trading it with altcoins and stable coins. But, the case here is that, people are underutilizing bitcoin even if it is already accepted in their country. 
Too many people are still holding onto the idea that bitcoin is an investment and used to increase your USD value or your USD fiat. Instead of being seen as a currency.
But that is the reason why bitcoin is a success. If it was a stablecoin I doubt crypto currency would be what it is today, thanks to bitcoin.People are underutilizing bitcoin as currency, however it is being used anyway, that is what really matters for most investors and that is what still makes it interesting for new investors to adopt bitcoin.
Too many people are still holding onto the idea that bitcoin is an investment and used to increase your USD value or your USD fiat. Instead of being seen as a currency.
But that is the reason why bitcoin is a success. If it was a stablecoin I doubt crypto currency would be what it is today, thanks to bitcoin.People are underutilizing bitcoin as currency, however it is being used anyway, that is what really matters for most investors and that is what still makes it interesting for new investors to adopt bitcoin.
Too many people are still holding onto the idea that bitcoin is an investment and used to increase your USD value or your USD fiat. Instead of being seen as a currency. The one thing I can understand is using the USD value to increase your bitcoin storable, wherein you sell while it is high to buy back more when it is low. This is taken with an increase in bitcoin as a goal and not an increase in USD. Which is how it should be. Too many people "cash out" their bitcoin only to make fiat transactions to buy things. It defeats the purpose.
There are certain factors that is necessary for this situation to work what you are talking about , not every country is Bitcoins friendly , not everywhere the government is so flexible , not everywhere it is legal to even keep them .
What else could you do. ?
In any country there are very limited things that you can do using the Bitcoins and keeping them is the only option left with them.
What else could you do. ?
In any country there are very limited things that you can do using the Bitcoins and keeping them is the only option left with them.
The thing is, even for those bitcoin friendly countries, people would still refer to either just keep it in wallets or trade with it. Let's face it, we're not yet at that point where bitcoin is seen in the same page as fiat when it comes to real world transactions. Probably for some of us here in the crypto community, it is. But for majority, there still are doubts as to whether it can be used for real transaction. More education and familiarity is needed for that to happen.
To be honest, is almost impossible to pay only via crypto in majority of countries. Without merchants we cant pay
Before talking about bitcoin has to be used only as currency not as trading asset
Every single fiat currency is being used as speculative asset on the forex market. There is nothing wrong with speculation because that means there is more liquidity and utility for the money you speculate with.The difference in money sense is that fiat is a unit of account while Bitcoin clearly is not. If Bitcoin can get there eventually, that would be an immensely important milestone, but I'm not super confident in that to happen.
Gold isn't a unit of account either, and that while it has had way more history as money than Bitcoin. Bitcoin being a store of value like gold is good enough in my opinion. The benefit is that it's far more useable as money than gold.
There are certain factors that is necessary for this situation to work what you are talking about , not every country is Bitcoins friendly , not everywhere the government is so flexible , not everywhere it is legal to even keep them .
What else could you do. ?
In any country there are very limited things that you can do using the Bitcoins and keeping them is the only option left with them.
What else could you do. ?
In any country there are very limited things that you can do using the Bitcoins and keeping them is the only option left with them.
I think the way to keep Bitcoin in existence is to use bitcoin for payment tools and also use bitcoin for trading tools. the use of bitcoin will significantly encourage adoption and also the volume of trade will continue to increase and make the demand for bitcoin increase and the price will rise.
if all bitcoin users only do hodl then the bitcoin market will not develop. but I am optimistic about the number of companies that accept bitcoin as a means of payment. will make bitcoin towards mass adoption.
if all bitcoin users only do hodl then the bitcoin market will not develop. but I am optimistic about the number of companies that accept bitcoin as a means of payment. will make bitcoin towards mass adoption.
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