Topic: SO CLOSE - page 3. (Read 565 times)
although bitcoin prices have gone down but bitcoin prices are still expensive for me, and if bitcoin is widely used in online trading I think bitcoin prices will be better and stable.
Such an inspiration feeling, that is good and on a more serious note, you're right with your point. As we all know, the price and value of Bitcoin is affected by the supply and demand of the market and the willingness of people to accept it as a medium of exchange. If Amazon, Walmart etc begin to accept BTC as medium of exchange, its demand will surely be on the rise as these platforms holds millions of people. Anyway, it's a gradual journey Bitcoin has to undertake to get there. Bitcoin hitting a global patronage wouldn't happen out of the blue. There is still more effort to put in place and we all have a part to play.
I feel like even though the price of Bitcoin has been on the down fall I feel like Bitcoin is so close to becoming the worlds leading currency. I can see it, however I feel like it takes some kind of major event for it to get over the hump. I know this sounds messed up, but I feel like another financial crisis would help out bitcoin make that leap and make people trust the currency more. Another thing is retailers and their acceptance of bitcoins. If Amazon, Walmart, Target etc. started to accept Bitcoin as a valid currency, the currency would become more stable and attractive to consumers. What do you guys think?
how can bitcoin be the worlds leading currency, its not even possible to spend it,
people and bitcoin trader still think in us dollar they seek to increase their amount of us dollar thats why they sell bitcoin or buy it.
from that you see that the us dollar is the lead currency.
I get what you're saying, but I feel like it has huge advantages over the US dollar. It's not centralized, but even though it's not, it has a system of controlling it's inflation through mining speed. I really don't think that we'll get rid of the dollar or other currencies soon, but I think it has the potential to stand equal to the world's strongest monetary systems.
Bitcoin is far from a leading global currency. It needs universal acceptance in a single country before it can make the leap into global acceptance. Think about how many countries will accept USD, even though they may have their own local currency.
I don't think that it necessarily needs to shake being compared to the USD or valued in USD as a main point of reference in order to achieve global currency status (most currencies are compared to other currencies and the US $$ is the most recognised at this point in time).
Stability and ease of transaction will be the big check points for global acceptance. As soon as there is no longer a need to transfer Btc immediately into fiat in order to cover operating expenses then it could hold that kind of status. The more accepted it becomes the more accepted it becomes, its a snowball that just needs a big enough push (acceptance at Amazon or something of that stature would be a pretty decent shove). If you are willing to get paid in Btc because you can buy your milk from the supermarket in btc and pay your rent/mortgage in btc then chances are so will your neighbours etc.
In order for it to be used like a currency though it needs to be transferable like a currency at the micro level. If i can give someone 10c in bitcoin and it only costs me 10-11c then that is the point at which it will be in a similar boat as a FIAT currency. That transaction needs to also happen a the pace of any currently accepted electronic transaction (VISA etc).
We are just at that leap of faith point where people are getting on board the bitcoin train and converting into fiat if need be. If the growing rate of acceptance keeps up then maybe soon you will be able to go on holiday and never have to stop in at a bank to change currency. I see it more as a store of value atm (electronic gold) and have not made a single purchase with it because purchasing it has fees, and transferring it has fess, so in the end its not really at a workable transactional currency yet.
I don't think that it necessarily needs to shake being compared to the USD or valued in USD as a main point of reference in order to achieve global currency status (most currencies are compared to other currencies and the US $$ is the most recognised at this point in time).
Stability and ease of transaction will be the big check points for global acceptance. As soon as there is no longer a need to transfer Btc immediately into fiat in order to cover operating expenses then it could hold that kind of status. The more accepted it becomes the more accepted it becomes, its a snowball that just needs a big enough push (acceptance at Amazon or something of that stature would be a pretty decent shove). If you are willing to get paid in Btc because you can buy your milk from the supermarket in btc and pay your rent/mortgage in btc then chances are so will your neighbours etc.
In order for it to be used like a currency though it needs to be transferable like a currency at the micro level. If i can give someone 10c in bitcoin and it only costs me 10-11c then that is the point at which it will be in a similar boat as a FIAT currency. That transaction needs to also happen a the pace of any currently accepted electronic transaction (VISA etc).
We are just at that leap of faith point where people are getting on board the bitcoin train and converting into fiat if need be. If the growing rate of acceptance keeps up then maybe soon you will be able to go on holiday and never have to stop in at a bank to change currency. I see it more as a store of value atm (electronic gold) and have not made a single purchase with it because purchasing it has fees, and transferring it has fess, so in the end its not really at a workable transactional currency yet.
I also feel like you, though bitcoin prices have fallen but bitcoin prices are still expensive for me, and if bitcoin is widely used in online trading I think bitcoin prices will be better and stable.
I feel like even though the price of Bitcoin has been on the down fall I feel like Bitcoin is so close to becoming the worlds leading currency. I can see it, however I feel like it takes some kind of major event for it to get over the hump. I know this sounds messed up, but I feel like another financial crisis would help out bitcoin make that leap and make people trust the currency more. Another thing is retailers and their acceptance of bitcoins. If Amazon, Walmart, Target etc. started to accept Bitcoin as a valid currency, the currency would become more stable and attractive to consumers. What do you guys think?
how can bitcoin be the worlds leading currency, its not even possible to spend it,
people and bitcoin trader still think in us dollar they seek to increase their amount of us dollar thats why they sell bitcoin or buy it.
from that you see that the us dollar is the lead currency.
Yes it is true and I also think what you think, when the Online store stores can all receive bitcoin as a means of payment I think it will be more stable bitcoin can even rise well.
I feel like even though the price of Bitcoin has been on the down fall I feel like Bitcoin is so close to becoming the worlds leading currency. I can see it, however I feel like it takes some kind of major event for it to get over the hump. I know this sounds messed up, but I feel like another financial crisis would help out bitcoin make that leap and make people trust the currency more. Another thing is retailers and their acceptance of bitcoins. If Amazon, Walmart, Target etc. started to accept Bitcoin as a valid currency, the currency would become more stable and attractive to consumers. What do you guys think?
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