Topic: The beauty of Bitcoin is in use case. - page 3. (Read 675 times)

Think of it mostly like "this is the number of places that "can" accept it" type of deal. That means that as high as 60 thousand of them could accept it if they do the update and actually start accepting it.

However, the point is that we are getting more adoption is true, that much is guaranteed, we have more adoption today than last year, and last year we had more than previous year, that just keeps growing and growing for the long term and should be a source of joy for us without a doubt. I know that not many people think that we are growing by just looking at the price, but price is not the only thing that will make it that great. I hope that people will realize that soon and could do something about it as well.

Even now we were able to address better access and acceptance of bitcoin from first world countries. The same hadn't made any big impact over the rest of the world or upon the growing countries. This way the acceptance of bitcoin from the major countries isn't going to have big impact. Through its use case it is possible to reach majority of the population. The goodness relies on bitcoin's multiple usage and the growth relies on its usage happening with the bottom level of people who doesn't have banking account. To this we need more time and it isn't an easy thing.

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.

I believe we will still have a lot of time for that to spread to the masses, a lot of businesses won't see Bitcoin as a payment method just yet, the main reason for that is probably the regulations and no acceptance from the authorities within major countries all around the world, they don't want Bitcoin and cryptocurrencies to be widely used by their citizens as that will become a threat to the traditional financial institutions and they would never want that to happen.

So, they won't allow big businesses and stores to accept Bitcoin as a payment as that will make more people start using Bitcoin instead of fiat to cut down fees and other expenses and that will make them lose a lot of control over the finances and financial activities of their citizens.

Apart from El Salvador and Central South Africa, two 3rd world countries, no other country accepts bitcoin as a legal tender.  so I wouldn't believe that European countries or countries with developed economies would accept bitcoin as a legal tender.  bitcoin will certainly soon be accepted on a global level but it will likely just be a commodity or an asset.  I don't spread Fuds but this is what I predict for bitcoin futures.   while the OP's news is very positive about accepting bitcoin, accepting it as legal tender is a much larger-scale issue.

Does it really matter ? The fact of the matter is, it is used as legal tender to pay for goods and services... so it is the principle that counts. Most countries wants to box Bitcoin into a "Commodity" definition to effectively eliminate any competition to their local Fiat currency.

We should celebrate all small victories for Bitcoin being used for it's real "use case", namely being a Currency and not a "Commodity" as the governments are defining it. 

Honestly no on both accounts.

1. Nah Bitcoin on-chain is not for payments, that would never work there isn't nearly enough tx capacity for that. On-chain is for moving funds around, L2 is for payments. Any time of 'daily purchase' has no business being on the base layer.

2. Other cryptocurrencies aren't money, no reason for anyone to adopt them for payment. Bitcoin is money for humanity. Everything else is just for speculation/trading or random app tokens. In terms of money, it's always only been about Bitcoin, it's never been about altcoins.

Saying Bitcoin is a Ponzi, they don't understand how Bitcoin works even Bitcoin is equated with gambling and other nonsensical instruments.
Bitcoin is completely decentralized, so governments need to think twice about fully adopting Bitcoin.

Some countries that have not accepted Bitcoin as legal tender are still thinking that if Bitcoin is legalized, they will not have full control.
There will be times when new regulations are made, but who knows what will happen if the government takes full control.

Just look at how crazy taxes would be if the government had full control.
Bitcoin is in a growth phase and there will be pros and cons about using Bitcoin.
Bitcoin is not a Ponzi or any other fraudulent instrument, Bitcoin is still Bitcoin.

yeah, bitcoin has a lot of functionality, the fact that it can be used as a global transaction is one of the fun aspects of it, and aside from that bitcoin has other explorable features such as investing and getting profit, and having similar functionality with fiat but different and even better than the banking system just that there is no way we can not do without fiat and bank for the main time, and bitcoin having lightning network just makes it more interesting. and I don't know about banks in other places but the banking system here still sucks, still having a lot of network issues.




Some countries are already accepting it as legal tender, very soon other countries will start accepting it also and I doubt if European countries will want to make it legal tender, a lot of things will be considered and I think Bitcoin is more interesting when a larger percentage is decentralized, and over time a lot of people are embracing bitcoin, and as you said other people are still hiding due to restriction but very soon it will get to the point of people no longer hid and in my region, for some time people see individuals involved in bitcoin has scammers but with the awareness, I think people are already getting the clear picture of everything that bitcoin is not also Ponzi.

Others have pointed out that the number is seriously exaggerated and accounts not only for current working stations but many experimental ones, too. I'm happy it's going on, I agree with the op that it's wonderful to see Bitcoin use cases, and since electric vehicles are more eco-friendly than others, it's good to see that Bitcoin is actively used for something that has a positive environmental impact. But being out there as an option is very different from actually being used. Is there information on how many stations are in active use, and how regularly people pay in BTC using this startup?

Whatever the actual number is for the stations that have started accepting bitcoins I think this is a beautiful speck of light which one day this light will widen and expand in all corners of the land on this earth. It's only a matter of time before everyone starts accepting bitcoins as a payment option. I invest in bitcoin believing there will be more mass adoption in the future. Maybe it takes years but well it doesn't matter because this is for the long term. Even though bitcoin in my country cannot be a means of payment. but the government here supports its citizens who want to invest in bitcoin which is a commodity asset here. And our country has even launched its own Exchange.

It's not as if this information really impacted the price of Bitcoin, and cause it to take a bit of a spike. Just as @Yamane_Keto had said, not all the 60k are really accepting Bitcoin payments, because if they all did, I believe the price of Bitcoin will rise slightly in regards to the news. Well, I know that Bitcoin is good, and if every business realises it and adopts it as their other means of payment, it will also benefit them in terms of volatility because if the price of Bitcoin goes up, it will yield more profit for the business. Also, people will get to know more about Bitcoin.

The beauty of Bitcoin is that it combines two essential elements for completing exchange transactions between two parties; The first element is that it is a store of value such as gold or fiat currencies, and therefore on the basis of which the value of a good or service can be evaluated very easily. The second element is that it is a payment gateway at the same time, according to the characteristics of the blockchain that allow it easily.
These characteristics make Bitcoin easy to integrate and cost almost nothing. Today we have the Lightning Network, which reduces transmission costs and makes it possible to send bitcoins in small amounts so that it can be used for transactions in small amounts. I am very happy to see people integrating Bitcoin into their small businesses. This is the kind of adoption we all want.

Thank you for that clarification. Upon reading the initial number stated I was a bit shocked but impressed that this happened without me having any idea.

The OP is still right though. It was the use cases for Bitcoin that really makes a difference to those outside of holders looking to get rich sitting on their Bitcoin.

Every technologies beauty is on its use case.  Technology is worthless if it can't have its real-life uses.  That does not excuse Bitcoin.  Bitcoin needs to be integrated in different applications and be adopted by different companies in order for the demand for bitcoin to increase.  Without these real-life applications and usage, Bitcoin growth will be limited no matter how hot or trendy it will become.

Adoption and actual use cases of bitcoin are expected to increase day by day in a gradual manner. That would surely make bitcoin even more likely to become the adopted global payment tender even if it is still just an alternative option for the average person. If European countries have legalized bitcoin as a legal means of payment, then of course the positive impact will be increased adoption in various countries both in Asia and America.

I'm sure bitcoin adoption and actual use cases will continue to grow, but may never be able to record everything as some people are still in hiding due to bans or restrictions. Bitcoin has never differentiated fees costs even if we want to send it to different countries, the transaction fees will remain the same based on the needs of each user.

Good catch, I did not look at the article, but this is what I was thinking. These numbers aren't really accurate everytime there's a report about bitcoin adoption and it's expanding uses, but most of the new businesses that accepts crypto or bitcoin payments are all in an experimental phase. Though it's still a good thing for bitcoin ecosystem, but we all just can hope that it works for their businesses.
I'm kind of positive there are more to follow, especially when a lot of people are using the lightning network, it will make the transactions a lot more easier than before.

Topic title is pretty interested, Absolutely, I agree with you. The beauty of Bitcoin lies not only in its use case as a decentralized digital currency but also in its potential for global transactions. Being able to send Bitcoin worldwide as a payment method, similar to how we send money through the banking system, opens up new possibilities for cross-border transactions and financial inclusion. Additionally, businesses accepting Bitcoin as a payment method can also contribute to its widespread adoption and utility.

Thanks to the Lightning Network which has aided the fast transaction when using bitcoin for payment. What I understand is that bitcoin adoption is increase as the time passes on and more people will adopt bitcoin. That is when we can see the price to be very high and by then there will be no valuable assest that one will use to compare bitcoin. Those countries that are yet to adopt bitcoin will have no option than to accept bitcoin and legalise it,so that they won't be left out. We can see in Europe about the 60,000 EV stations that will be using bitcoin as payment. This is a good news.

But I think gradually the use case has that very basic problem that when the number of users increase, scaling issues begin at a very big level. The fees go high and then the time of transaction goes high as well. If both these things happen then how can you expect an actual use case from such a thing?