The beauty of Bitcoin is in use case.

posi

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Quote from: posi on August 05, 2023, 04:34:49 AM

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Sometimes users get overly proud about something related to payment systems using Bitcoin implemented by countries or big companies. Isn't it enough for us to see how far they will use it?

-snip- So there is nothing wrong with people being proud as this is seen as a victory in the bitcoin revolution. -snip-

It's too soon to declare victory. It's better to wait and see what happens while keeping an eye on how many people use bitcoins for payment. Isn't it pointless to have a system available if no one uses it? Despite the fact that Bitcoin has been adopted as a national currency, there are some tricks to be aware of, such as what happened in the Chivo wallet case.

It's a small win and we're taking it step by step into the world, although it's going to take time but that doesn't mean it won't be successful. Everything started from small to big, like I said, bitcoin used to be hostile and banned by all countries, but now it is slowly being accepted in most countries and not so much the country banned it. That shows people are being convinced by its potential. So it is entirely possible that bitcoin could become an alternative currency.

Luzin

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It's too soon to declare victory. It's better to wait and see what happens while keeping an eye on how many people use bitcoins for payment. Isn't it pointless to have a system available if no one uses it? Despite the fact that Bitcoin has been adopted as a national currency, there are some tricks to be aware of, such as what happened in the Chivo wallet case.

According to the sources I've read, there are currently only two countries that legalize Bitcoin as payment. El Salvador and the central African Republic. Is this a victory? I think not. These two countries have come under a lot of pressure from the IMF and World Bank because of the decision to legalize Bitcoin as a means of payment. They were threatened with no financial assistance if they were in financial difficulties.

Although I am happy to hear that these two countries have dared to use it as payment. It's an advantage nowadays that there are countries that dare to take risks. But if they succeed, there will probably be a third country ready to legalize it as payment. Maybe you can help predict which country will legalize Bitcoin as a payment on Coinmarketcup. And you remember, nowadays many countries have also started making opponents out of crypto through CBDCs. The government is trying to provide other alternatives so that they can control, even though crypto also benefits the country.

Source: https://coinmarketcap.com/legal-tender-countries/

Bitcoin_people

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Currently, the popularity of Bitcoin is increasing, especially from large shopping malls to grocery stores. I have seen in many news that many small businessmen and their shops have introduced bitcoin payment system. They can do this very easily by accepting their electricity bills and car filling station payments in Bitcoins in different countries. And currently, the bitcoin lighting network in the country is providing the most favorable conditions to traders. This bitcoin lighting network is so convenient that they use this network to complete all transactions very quickly and with minimal fees. It is really amazing technology which is giving most benefits to people nowadays and using this technology people are realizing very easily for their daily life. Since we know that Bitcoin has a near future, we can realize that the future of Bitcoin will bring more benefits to all traders.

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Quote from: Ziskinberg on August 05, 2023, 04:53:30 PM

Quote from: tjtonmoy on August 02, 2023, 04:25:02 PM

This is just the start. Bitcoin has come a long way to be what it is today. So we can not hope for a sudden adaptation. It will require time as it has taken for Bitcoin to become Bitcoin. But it is true that one day Bitcoin will become the world currency. These adaptations happening worldwide will one day lead Bitcoin to become that. One day it will become a trend and that day it will happen. Maybe not overnight, but slowly. Bitcoin has the potential.

It is evolving every day. Lightning network may become the key to Bitcoin's mass adoption. Or maybe we will see more development in the Bitcoin network. No one knows what's coming. But whatever it is, it will be good that's for sure.

Indeed, the adaption won't be instant as people will need time to discover on how they could benefit from it. For now, many won't still see its value, we can't force them either but for sure, they will find it someday. In fact, adaption is not a race, little by little, people will appreciate it but there is one thing that would help their minds to see support from the government and these big companies. As to the moment that big companies are accepting Bitcoin, the more it encourage people to use Bitcoin but for now, what is in their mind is just an investment, not a currency.

Yeah, I believe you and what you have said, adoption is not something that is rushed, or should be rushed , people can be reckless with a lot of things, but when it comes to the stage where money is involved. most person are extremely careful with their decisions, Building a business and getting it to succeed is not an easy task, and due to competitions here and there, some businesses are so delicate and could crash by one wrong decision, this is why some rich men will rather remain where they are than try something they are not sure of coming out successful.

Bitcoin will gain massive adoption, the one thing still stopping this from happening already is due to uncertain regulatory concerned, many businesses are interested in integrating Bitcoin their system, but are just waiting for bitcoin to become a legal currency as government is going to declare it, cus right now, many still think that integrating bitcoin is like going against the government, and like ive said before, many of this business are afraid of being sectioned by the government.

panganib999

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This is misleading, paints a nicer picture when things aren't as clear as they may seem. 60,000 experimental charging points and there are no news yet of how many of these bitcoin charging stations are being used for their intended purpose. You might wanna edit the post.Don't get me wrong, I love for crypto adoption to come as much as the next guy but at the same time you gotta be transparent and honest with statistics and data as it will cook you alive if you're giving numbers and data that doesn't match real world levels. Just a friendly advice that I hope you take into heart next time you post articles like these. It's great that we're actually getting somewhere and bitcoin is being adopted for niche payment purposes but at the same time these kinds of articles are often misleading and are intended to fool you into thinking that it's looking way better than what it actually looks like IRL.

Mr.suevie

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Quote from: Ziskinberg on August 05, 2023, 04:53:30 PM

Quote from: tjtonmoy on August 02, 2023, 04:25:02 PM

This is just the start. Bitcoin has come a long way to be what it is today. So we can not hope for a sudden adaptation. It will require time as it has taken for Bitcoin to become Bitcoin. But it is true that one day Bitcoin will become the world currency. These adaptations happening worldwide will one day lead Bitcoin to become that. One day it will become a trend and that day it will happen. Maybe not overnight, but slowly. Bitcoin has the potential.

It is evolving every day. Lightning network may become the key to Bitcoin's mass adoption. Or maybe we will see more development in the Bitcoin network. No one knows what's coming. But whatever it is, it will be good that's for sure.

Indeed, the adaption won't be instant as people will need time to discover on how they could benefit from it. For now, many won't still see its value, we can't force them either but for sure, they will find it someday. In fact, adaption is not a race, little by little, people will appreciate it but there is one thing that would help their minds to see support from the government and these big companies. As to the moment that big companies are accepting Bitcoin, the more it encourage people to use Bitcoin but for now, what is in their mind is just an investment, not a currency.

Yeah Many people in the world today actually appreciate it because of the Versatile use as an investment purpose which is good but I feel true adopting will come only when it is clearly appreciated as a currency just like the way it's been used as a legal tender in el Salvador and I believe it's just a matter of time before other government cue into the moving train because Bitcoin is the moving train and one day we all see that this today dream has come to actualisation.

Ziskinberg

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Quote from: tjtonmoy on August 02, 2023, 04:25:02 PM

This is just the start. Bitcoin has come a long way to be what it is today. So we can not hope for a sudden adaptation. It will require time as it has taken for Bitcoin to become Bitcoin. But it is true that one day Bitcoin will become the world currency. These adaptations happening worldwide will one day lead Bitcoin to become that. One day it will become a trend and that day it will happen. Maybe not overnight, but slowly. Bitcoin has the potential.

It is evolving every day. Lightning network may become the key to Bitcoin's mass adoption. Or maybe we will see more development in the Bitcoin network. No one knows what's coming. But whatever it is, it will be good that's for sure.

Indeed, the adaption won't be instant as people will need time to discover on how they could benefit from it. For now, many won't still see its value, we can't force them either but for sure, they will find it someday. In fact, adaption is not a race, little by little, people will appreciate it but there is one thing that would help their minds to see support from the government and these big companies. As to the moment that big companies are accepting Bitcoin, the more it encourage people to use Bitcoin but for now, what is in their mind is just an investment, not a currency.

suzanne5223

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Sometimes users get overly proud about something related to payment systems using Bitcoin implemented by countries or big companies. Isn't it enough for us to see how far they will use it?

You have a point, the longevity of using Bitcoin as a payment method once it was implemented by an organization or company should be the focus of the crypto community but I don't that should be our focus anymore since a big players in institutional banking and investment company has an interest in BTC.
Having said that, I believe the major reason BTC community dont focus on the longetivity is because when reputable company add crypto to their payment system its a win for all the community.

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Quote from: Blitzboy on August 02, 2023, 01:30:59 AM

The innovative and defining aspect of Bitcoin is that it is decentralized, which is inherently at conflict with the centralized rule of a government.

The government does not see any potential on the decentralized nature of Bitcoin since it is against their authority. The one thing that government is attractive of is the technoligy behind Bitcoin, the blockchain technology where they can store and process data and information in a more secure way and very resistant to corruption or modification.

Quote from: Blitzboy on August 02, 2023, 01:30:59 AM

Waiting for official sanction, in fact, might slow Bitcoin's spread. It can cause people to stop thinking outside the box. Instead, we need to concentrate on making Bitcoin transaction platforms that are reliable, safe, and easy to use. We must inform the public of the upsides of cryptocurrency and provide them with the resources necessary to use it safely and effectively. Don't have the government push adoption on the people.

Honest information dissemination is one of the best things that can help Bitcoin propagate. With right information, people are able to understand the true function and potential of Bitcoin. This will also prevent useless losses from investors and makes Bitcoin look better.

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Quote from: Moreno233 on July 27, 2023, 10:12:41 PM

As of today, over 60,000 electric vehicle charging stations now accept Bitcoin across Europe,
thanks to Lightening Network (source: https://mycryptowallet.com.au/news/bitcoin/bitcoin-now-accepted-at-60000-ev-charging-stations-across-europe/).

It's not enough. People have to see an extra benefit on using BTC as currency they can't have access through fiat currency. Discounts are the best incentive. If people can acquire those electric vehicles with a discount of 5% or 10% when using BTC as payment method, then I would say it's making total difference on the adoption process. Otherwise, why would people exchange their fiat money into Bitcoin, paying taxes and transactions fees, to buy that same electric vehicle for a higher final value? It doesn't make much sense for me...

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Quote from: Mauser on August 05, 2023, 01:31:11 AM

Quote from: Moreno233 on July 27, 2023, 10:12:41 PM

Many businesses are also joining this trend as they realise the advantages offered by this amazing technology. Gradually, we will see even deeper penetration of Bitcoin and cryptocurrency at large.

That's great news, we need more companies to start dealing in crypto currencies to keep the crypto dreaming spreading. The worst thing that could happen would be a stagnation or even decline of companies that use cryptos. It's one thing for the average investor to save their money in bitcoin and alt coin, and something completely different for large companies to engage in crypto transactions. We are all looking for a world where the main currency is bitcoin and should act accordingly. When choosing to buy a product we should buy from companies that accept cryptos. It's up to the consumer now to reward the companies that are actively using crypto currencies. Only if the market share of crypto transaction compared to fiat payments is growing will more companies make the switch. A more stable price for bitcoins in the future is another way to make it more appealing for companies.

I hear you. Choo choo, more companies should join crypto train. Like jam on toast, the more the better, right? That's why everyone, including me, loves Bitcoin. Corporations should accept crypto too. Why? Because of the future. When I go to a store, I want to pay with Bitcoin, not cash! Who needs paper cash when you have Bitcoin?

We have the power. Customers have money. Use it to support Bitcoin-accepting companies. If two stores sell the same thing and one accepts Bitcoin, thats my shop! More of us doing this will make more shops accept Bitcoin. The domino effect happens when one falls. Stability? That would be cool. One step at a time

posi

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Sometimes users get overly proud about something related to payment systems using Bitcoin implemented by countries or big companies. Isn't it enough for us to see how far they will use it?

People get excited because bitcoin used to be banned in many countries, they have a hostile view of bitcoin. But over time, they gradually realized the true potential of bitcoin and gradually became more friendly with it. So there is nothing wrong with people being proud as this is seen as a victory in the bitcoin revolution. It is true that this will not guarantee anything for the future of bitcoin, they may accept it and possibly ban it again. But let's live in the present, I mean we have taken another big step in conquering the world and showing the world that bitcoin is what everyone will need in the future.

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Quote from: Moreno233 on July 27, 2023, 10:12:41 PM

Many businesses are also joining this trend as they realise the advantages offered by this amazing technology. Gradually, we will see even deeper penetration of Bitcoin and cryptocurrency at large.

That's great news, we need more companies to start dealing in crypto currencies to keep the crypto dreaming spreading. The worst thing that could happen would be a stagnation or even decline of companies that use cryptos. It's one thing for the average investor to save their money in bitcoin and alt coin, and something completely different for large companies to engage in crypto transactions. We are all looking for a world where the main currency is bitcoin and should act accordingly. When choosing to buy a product we should buy from companies that accept cryptos. It's up to the consumer now to reward the companies that are actively using crypto currencies. Only if the market share of crypto transaction compared to fiat payments is growing will more companies make the switch. A more stable price for bitcoins in the future is another way to make it more appealing for companies.

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This is just the start. Bitcoin has come a long way to be what it is today. So we can not hope for a sudden adaptation. It will require time as it has taken for Bitcoin to become Bitcoin. But it is true that one day Bitcoin will become the world currency. These adaptations happening worldwide will one day lead Bitcoin to become that. One day it will become a trend and that day it will happen. Maybe not overnight, but slowly. Bitcoin has the potential.

It is evolving every day. Lightning network may become the key to Bitcoin's mass adoption. Or maybe we will see more development in the Bitcoin network. No one knows what's coming. But whatever it is, it will be good that's for sure.

sokani

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Quote from: Moreno233 on July 27, 2023, 10:12:41 PM

The more businesses begin to integrate crypto payment in their daily activities, the more we see real progress regarding the entire concept.

As of today, over 60,000 electric vehicle charging stations now accept Bitcoin across Europe,
thanks to Lightening Network (source: https://mycryptowallet.com.au/news/bitcoin/bitcoin-now-accepted-at-60000-ev-charging-stations-across-europe/). Many businesses are also joining this trend as they realise the advantages offered by this amazing technology. Gradually, we will see even deeper penetration of Bitcoin and cryptocurrency at large.

The integration of lightning network to the Bitcoin protocol is playing a significant role in the adoption of Bitcoin by providing a great opportunity for businesses to blossom. According to the article, there is an exponential growth in the number of Satimoto's EV charging points across europe from 24,227 to 60,000 in less than a year, among which 8,898 are still on experimental stage. According to the article, there is also an increase in the demand for electric cars in Europe. The more the demand for electric cars and the use of the EV charging points, the more the use of Bitcoin LN payment and the more the demand for Bitcoin. A win for Bitcoin if you ask me.

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Quote from: lionheart78 on July 30, 2023, 04:50:10 PM

I also think that regulation is the greatest challenge of cryptocurrency. The acceptance of a country is the most difficult hurdle cryptocurrency has to face but once Bitcoin is able to surpass this hurdle and get accepted by major countries, I believe there will be an adoption explosion where Bitcoin will be trendy and get accepted everywhere. And for that to happen, Bitcoin should establish its real-life use case and put pressure to be demanded by the majority of the population so that the governmetn will pay attention and be inclined to accept it due to the possible benefits it can gain from BTC and its technology.

Most of the countries have accepted bitcoin but some still have not accept it. If once the cryptocurrency has accepted in every country then the demand will increase as a result of which the price will fluctuates to higher worth which will be profitable for bitcoin holders.

Bitcoin gives benefit to majority of people but it also declined the value of fiat currency and most of the people will accept bitcoin rather than joining any job because of lower salaries but they forget about the major thing that in job your salary will be confirmed but in case of bitcoin or other investment you will be worried about the success and income because stability does not exist in crypto business.

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Quote from: someone703 on August 02, 2023, 12:44:07 PM

Quote from: lionheart78 on August 01, 2023, 03:41:29 PM

Quote from: TimeTeller on August 01, 2023, 03:33:38 PM

Quote from: someone703 on August 01, 2023, 01:04:03 PM

The reality is that for Bitcoin to become a ubiquitous technology and means of payment, it needs to be integrated into applications and accepted by various companies and institutions in the market. The development and actual adoption of Bitcoin plays an important role in determining its growth rate and spread.

Having a variety of applications and uses of Bitcoin can facilitate the fulfillment of user needs and the creation of real value. For example, the integration of Bitcoin into online payment applications, retail points, financial services and other areas can help expand its use. The spread of Bitcoin, its integration into real-life applications and uses, along with adoption from companies and institutions, is critical and will play an important role in defining the future. of Bitcoin.

We are already heading that way, more and more merchants are adding btc and other top alts in their payment system.
It won't be easy, but as long as companies and online merchants are integrating btc, we have hope about this adoption.

In order to have this kind of adoption, Bitcoin still needs the government to be open-minded about it. This way people who support Bitcoin and promote it do not need government approval in order to integrate BTC in their payment system or company as long as the government does not think Bitcoin as a negative thing.

But it is better if the government acknowledges Bitcoin and its use case and welcomes Bitcoin adoption because it propels the speed of Bitcoin acceptance among its constituents, after all majority of people are still waiting for the government positive signal in order to engage in Bitcoin adoption.

In fact, government approval and support is needed to speed up Bitcoin adoption and its use in payment systems. Agreeing that government approval is a positive thing, it makes perfect sense to provide users with reliability and build trust and confidence in cryptocurrencies. But the opposite is true for payment systems when it comes to Bitcoin volatility. While the government might back it up, it's still a real problem and a big risk for businesses and users that cryptocurrencies suddenly lose value or aren't accepted as expected.

In fact, we all want the same thing. We want governments to recognize Bitcoin and accept it as a payment method. I dream that one day this will be a reality. Then many of the things we want will come true.

Bitcoin has left many things behind since its first day. There are people who never give up on Bitcoin. The number of these people is growing every day. So we should always think good things and believe that one day we will do all our shopping in Bitcoin.

Too much volatility in the Bitcoin price right now may seem like an obstacle to our desire, but over time, Bitcoin will overcome this situation.

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Quote from: lionheart78 on August 01, 2023, 03:41:29 PM

Quote from: TimeTeller on August 01, 2023, 03:33:38 PM

Quote from: someone703 on August 01, 2023, 01:04:03 PM

The reality is that for Bitcoin to become a ubiquitous technology and means of payment, it needs to be integrated into applications and accepted by various companies and institutions in the market. The development and actual adoption of Bitcoin plays an important role in determining its growth rate and spread.

Having a variety of applications and uses of Bitcoin can facilitate the fulfillment of user needs and the creation of real value. For example, the integration of Bitcoin into online payment applications, retail points, financial services and other areas can help expand its use. The spread of Bitcoin, its integration into real-life applications and uses, along with adoption from companies and institutions, is critical and will play an important role in defining the future. of Bitcoin.

We are already heading that way, more and more merchants are adding btc and other top alts in their payment system.
It won't be easy, but as long as companies and online merchants are integrating btc, we have hope about this adoption.

In order to have this kind of adoption, Bitcoin still needs the government to be open-minded about it. This way people who support Bitcoin and promote it do not need government approval in order to integrate BTC in their payment system or company as long as the government does not think Bitcoin as a negative thing.

But it is better if the government acknowledges Bitcoin and its use case and welcomes Bitcoin adoption because it propels the speed of Bitcoin acceptance among its constituents, after all majority of people are still waiting for the government positive signal in order to engage in Bitcoin adoption.

In fact, government approval and support is needed to speed up Bitcoin adoption and its use in payment systems. Agreeing that government approval is a positive thing, it makes perfect sense to provide users with reliability and build trust and confidence in cryptocurrencies. But the opposite is true for payment systems when it comes to Bitcoin volatility. While the government might back it up, it's still a real problem and a big risk for businesses and users that cryptocurrencies suddenly lose value or aren't accepted as expected.

tread93

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I feel like we have entered, and have been in another accumulation stage for a while now. The more and more demand for BTC will just place more and more demand for other payment and acceptance options for BTC and other cryptos. The EV space is more advanced compared to traditional gas vehicles so its nice to see those companies embracing the energy of crypto, quite literally.

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Quote from: lionheart78 on August 01, 2023, 03:41:29 PM

Quote from: TimeTeller on August 01, 2023, 03:33:38 PM

Quote from: someone703 on August 01, 2023, 01:04:03 PM

The reality is that for Bitcoin to become a ubiquitous technology and means of payment, it needs to be integrated into applications and accepted by various companies and institutions in the market. The development and actual adoption of Bitcoin plays an important role in determining its growth rate and spread.

Having a variety of applications and uses of Bitcoin can facilitate the fulfillment of user needs and the creation of real value. For example, the integration of Bitcoin into online payment applications, retail points, financial services and other areas can help expand its use. The spread of Bitcoin, its integration into real-life applications and uses, along with adoption from companies and institutions, is critical and will play an important role in defining the future. of Bitcoin.

We are already heading that way, more and more merchants are adding btc and other top alts in their payment system.
It won't be easy, but as long as companies and online merchants are integrating btc, we have hope about this adoption.

In order to have this kind of adoption, Bitcoin still needs the government to be open-minded about it. This way people who support Bitcoin and promote it do not need government approval in order to integrate BTC in their payment system or company as long as the government does not think Bitcoin as a negative thing.

But it is better if the government acknowledges Bitcoin and its use case and welcomes Bitcoin adoption because it propels the speed of Bitcoin acceptance among its constituents, after all majority of people are still waiting for the government positive signal in order to engage in Bitcoin adoption.

The innovative and defining aspect of Bitcoin is that it is decentralized, which is inherently at conflict with the centralized rule of a government.

Waiting for official sanction, in fact, might slow Bitcoin's spread. It can cause people to stop thinking outside the box. Instead, we need to concentrate on making Bitcoin transaction platforms that are reliable, safe, and easy to use. We must inform the public of the upsides of cryptocurrency and provide them with the resources necessary to use it safely and effectively. Don't have the government push adoption on the people.

Topic: The beauty of Bitcoin is in use case. (Read 675 times)