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I think you are responding to the main topic antonymously because the OP said it was very enthusiastic to cite several topics to explain the adoption of bitcoin for the purpose of paying corporate salaries and others. The popularity of bitcoin will continue to increase and will not fade despite being restricted by current government laws.
Topic: The more popular Bitcoin is, the more valuable it is？ - page 6. (Read 1402 times)
Bitcoin is limited. Everyone uses Bitcoin for payment and daily transactions. Bitcoin is becoming more and more popular. Many people know that Bitcoin also has countries that set Bitcoin as legal tender. If Bitcoin is used to pay salaries, is it necessary to collect taxes?
Regarding your question about taxes, I don’t understand how you connect the acceptance of Bitcoin as a tool for payment with the unnecessity of taxes. The government uses this money to make our cities better. They build new schools, shops, hospitals, so there is nothing bad in adequate taxes that are used for beneficial purposes.
in future bitcoin will be more valuable if some companies do the same thing like tesla did, but using bitcoin for daily transaction is not an option bitcoin only have 1 mb block so its not suitable for daily transaction like buying something cheap like coffe buy bitcoin as an asset and using other digital curency for daily transaction
The bitcoin network is only capable of doing 7 transactions per second, much less than the payment processing capacity like Visa which is capable of processing 56,000 transactions per second, but now bitcoin developers have found a solution to this problem, by developing (SegWit ) and ( LN) which are capable of increasing block capacity efficiency and being able to be the key to bitcoin scalability.
Well, bitcoin's price growth does not completely rely on its popularity. There could be instance where it might be popular and all but the value is still down for a certain reason such as getting banned by another country or receiving negative feed back from a well-known person. As bitcoin gets more involved in people's daily life, chances is that it might be of good help as the value will rise in no time or it can also be bad as the government end up noticing it and starts taking action towards it that can be detrimental for many users and investors.
Currently news about bitcoin is getting more and more massive in various media, of course there are those who report the negative side rather than the benefits, but this actually makes many people curious and interested in trying bitcoin, and I'm happy because many countries have legalized bitcoin.
Basically, Bitcoin will be more and more popular because of its own characteristics, get positive feedback or negative feedback... in my opinion, it doesn't really affect that Bitcoin will weaken, time will answer all of that and I'm sure bitcoin will be able to pass it all over time with its advantages as a cryptocurrency or a form of asset that is able to reach the future.
Today Bitcoin is getting popularity among all ages of life. It is not only a source of earning but also a business that has an easy approach for everyone. It is also true that the value of Bitcoin is increasing since its beginning. The network of persons involving in this business is spreading. So the value of cryptocurrency is also increasing. Different countries of the world also going to legalize Bitcoin after establishing a taxation system according to their rules and regulation. Therefore the future of cion is good.
I don't see that bitcoin becoming more and more popular could lead to it losing value, bitcoin has a limited supply and there is no way that we can create more past that point, that means the the more popular it gets the less supply we wil have and the more expensive it gets, but my concern is what happens to the transactions i mean i don't think that the bitcoin network would be able to process the transaction at a short time making it a viable payment option, and what about the fees, the harder the bitcoin mining becomes the more fees the transactions will have meaning if i wanted to buy something from amazon for 15 dollars i would have to pay 5 dollars in fees and it would take more than an hour for the transaction to be verified.
Agree.The popularity of bitcoin will cause many individuals and organizations to want to hold bitcoins. When the demand is high while the supply is limited, the price of bitcoin will skyrocket.Currently, bitcoin is not viable as a daily payment method. Transaction confirmation time and fee per payment are still difficult compared to the utility of fiat.
The current usage rate of Bitcoin is not very high (I mean daily transaction payment).
Investment still accounts for the majority. We all believe that the value of Bitcoin will get higher and higher.
Bitcoin's volatility is still relatively large.
I recently saw that the price of Bitcoin is rising, and I will definitely not use Bitcoin for payment during this period of time.
Investment still accounts for the majority. We all believe that the value of Bitcoin will get higher and higher.
Bitcoin's volatility is still relatively large.
I recently saw that the price of Bitcoin is rising, and I will definitely not use Bitcoin for payment during this period of time.
Of course, that's how the market works, the more people knows about it and the more it becomes more pricey, it's just a basic supply and demand so it's pretty easy to understand.
Yes, it is completely the demand to supply that makes it more valuable. Yes, when 10k people had known about bitcoin the price was in single digit value. Later as the popularity increases there is increase in the market adoption causing increased usage than the previous moments. So, it is obvious to see the popularity of bitcoin making a big change in the society in terms of usage and adoption.Considering that bitcoin does have only limited supply and the demand is getting higher then we would really be seeing significant movements in terms of its price.Yes, it would become more valuable.
Trying to look at on what happened on decades time on market chart of bitcoin then you would definitely say that it is something that is really worth of the risk.
Bitcoin price movements do move based on supply and demand, so if Bitcoin is getting more popular, then there will be more and more demand
for Bitcoin and that is what makes the value of Bitcoin increase. Moreover, Bitcoin is different from fiat which the government can print as much
as possible, Bitcoin has a limited supply, this is if the demand for Bitcoin is high, the price of Bitcoin can rise drastically. So it is very profitable to
hold Bitcoin in the long term, the longer we can be patient holding Bitcoin, the bigger the profit should be. Moreover, seeing the history of Bitcoin
price movements that continue to rise every year, even though the risk of investing in Bitcoin is quite high, but interest in Bitcoin is growing.
Since Bitcoin is indeed a promising asset, it is no wonder its popularity continues to increase.
It all depends on the market demand and supply. If the adoption on bitcoin keep on increasing , the demand will increase and of course the value will also increase. Bitcoin is an asset and currency but it is more on asset and it can be use as payment method but limited. If bitcoin will replace a fiat money to pay for salary, I think the income tax will be calculated like in fiat but it depends on the government rules and regulation if ever. In our country not all workers need to pay tax specially those low and minimum wage(they are tax free). If government will impose tax on bitcoin if ever, then it would be the same.
Well, basically as time flies Bitcoin will always go up since it has a Bitcoin halving every 4 years and there's nothing these bigger companies can do to stop it and I think they might invest in Bitcoin someday because if they don't, well, it's their losses.But don't get your hopes high yet just because you know it will keep on growing as time flies. There are negative impact to it too once attackers keep hacking huge exchanges then the probability of growing the Bitcoin price to a an ATH will be lessen. Bitcoin is decentralized and no single entity can control over it but other exchange does.
It all depends on the market demand and supply. If the adoption on bitcoin keep on increasing , the demand will increase and of course the value will also increase. Bitcoin is an asset and currency but it is more on asset and it can be use as payment method but limited. If bitcoin will replace a fiat money to pay for salary, I think the income tax will be calculated like in fiat but it depends on the government rules and regulation if ever. In our country not all workers need to pay tax specially those low and minimum wage(they are tax free). If government will impose tax on bitcoin if ever, then it would be the same.
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If conditions permit, I would be happy to use Bitcoin for daily payments, but some people have said that they will not sell their own Bitcoins and have been waiting for the price of Bitcoin to rise.
Do you think Bitcoin will be devalued in the future?
it all depends on individual needs. the important thing is to use it well, the popularity of bitcoin is increasing along with its increasing adoption
I would say that someone who uses Bitcoin for payments these days only uses it because that person absolutely has no choice. Might be the case if you want too avoid using Western Union or other transmitters that are even more expensive than Bitcoin itself, which is hard enough given the transaction fees right now. Most aren't using it, but just hoping for someone else to buy it at a higher price.
The more interesting observations took place when in countries with hyperinflation or suppression Bitcoin soared really hard, like in Venezuela. That showed that people are aware of it and if they absolutely have to they will shift their wealth into the digital currency if there is no option to get more stable fiat currencies like the USD.
Snip---
If conditions permit, I would be happy to use Bitcoin for daily payments, but some people have said that they will not sell their own Bitcoins and have been waiting for the price of Bitcoin to rise.
Do you think Bitcoin will be devalued in the future?
it all depends on individual needs. the important thing is to use it well, the popularity of bitcoin is increasing along with its increasing adoption
Of course, that's how the market works, the more people knows about it and the more it becomes more pricey, it's just a basic supply and demand so it's pretty easy to understand.
Yes, it is completely the demand to supply that makes it more valuable. Yes, when 10k people had known about bitcoin the price was in single digit value. Later as the popularity increases there is increase in the market adoption causing increased usage than the previous moments. So, it is obvious to see the popularity of bitcoin making a big change in the society in terms of usage and adoption.Considering that bitcoin does have only limited supply and the demand is getting higher then we would really be seeing significant movements in terms of its price.Yes, it would become more valuable.
Trying to look at on what happened on decades time on market chart of bitcoin then you would definitely say that it is something that is really worth of the risk.
Well, bitcoin's price growth does not completely rely on its popularity. There could be instance where it might be popular and all but the value is still down for a certain reason such as getting banned by another country or receiving negative feed back from a well-known person. As bitcoin gets more involved in people's daily life, chances is that it might be of good help as the value will rise in no time or it can also be bad as the government end up noticing it and starts taking action towards it that can be detrimental for many users and investors.
For me I prefer bitcoin been kept as an asset instead of being used as a currency for daily transactions, we can all see keeping bitcoin is more better than spending it, for example you hodl your bitcoin and then price of bitcoin increases you make profits while someone who used it for payment will be at lose because firstly he did pay for transaction fee which can be seen as a loss already and also he had lost the future benefits of price increase. Bitcoin can never be devalued in the future, use the previous years for example all you could see is bitcoin being more valuable.
But that's not the original purpose of this system. Bitcoin should widen the acceptance and for people to learn that there's alternative system aside from banking.
For now, your statement is the one that gaining the attention, keeping your bitcoin as an asset of value, hoping that day will come that
your target value will reach and give you huge profits by just keeping it from your wallet.
If Bitcoin is used to pay salaries, is it necessary to collect taxes?
It depends on the government of the country. In a few countries, there are taxes for crypto coins. But in my country, there is still no regulation of crypto/Bitcoin taxes. When Bitcoin is already functioned both for investment and payment tools there, the government probably plans to apply taxes. If it is more convenient for everyone to buy bitcoins and use bitcoins for daily payments, will the price of bitcoins get lower and lower?
The value of Bitcoin cannot be compared with fiats. It is more similar to Gold. You must know the gold value, right? Even if it is used as a payment tool, the value of Gold is always high (expensive). It also probably happens to Bitcoin, the value of Bitcoin can be still expensive when it is already used as payment tools daily.
The thread compilation that the OP made isn't really about the "popularity", but pretty much it points out on how viable it is for such uses in different scenarios. One mentioned in one of the thread is about the payment of Bitcoin as a salary. Pretty much that has been happening quite a while now, although it is not getting reported that much but it is expected to be anytime soon. I even recall one boss of a company wanting the paycheck of one of his employee to be paid back because the price of Bitcoin just went ^^^^^.
Reference: https://www.entrepreneur.com/article/371098
Reference: https://www.entrepreneur.com/article/371098
Of course, that's how the market works, the more people knows about it and the more it becomes more pricey, it's just a basic supply and demand so it's pretty easy to understand.
Yes, it is completely the demand to supply that makes it more valuable. Yes, when 10k people had known about bitcoin the price was in single digit value. Later as the popularity increases there is increase in the market adoption causing increased usage than the previous moments. So, it is obvious to see the popularity of bitcoin making a big change in the society in terms of usage and adoption. 
For me I prefer bitcoin been kept as an asset instead of being used as a currency for daily transactions, we can all see keeping bitcoin is more better than spending it, for example you hodl your bitcoin and then price of bitcoin increases you make profits while someone who used it for payment will be at lose because firstly he did pay for transaction fee which can be seen as a loss already and also he had lost the future benefits of price increase. Bitcoin can never be devalued in the future, use the previous years for example all you could see is bitcoin being more valuable.
Recently, there as been a lot of discussion about using Bitcoin to pay or employers to pay salaries using Bitcoin.
https://bitcointalksearch.org/topic/if-it-is-more-convenient-for-people-to-buy-bitcoin-will-bitcoin-be-more-popular-5350730
https://bitcointalksearch.org/topic/if-you-can-get-paid-through-cryptocurrency-do-you-still-choose-fiat-currency-5351333
https://bitcointalksearch.org/topic/getting-paid-in-bitcoin-vs-getting-paid-in-fiat-5351973
https://bitcointalk.org/index.php?topic=5352233.new#new
(All forum threads, there will be many similar views)
There is a lot of hype among Amazon, Apple, and Tesla about accepting Bitcoin as a payment method. Many of them say that the adoption is better, but if the company converts a large amount of Bitcoin paid by customers into legal tender, it will give Bitcoin. The currency brings a lot of selling pressure.
Bitcoin is limited. Everyone uses Bitcoin for payment and daily transactions. Bitcoin is becoming more and more popular. Many people know that Bitcoin also has countries that set Bitcoin as legal tender. If Bitcoin is used to pay salaries, is it necessary to collect taxes?
Bitcoin is becoming more and more common for daily payments. If it is more convenient for everyone to buy bitcoins and use bitcoins for daily payments, will the price of bitcoins get lower and lower?
But now the legal currency has depreciated. For example, if you are rich, then you will not let your money just be stored in the bank, and will invest it in cryptocurrencies, houses, stocks, and others.
If conditions permit, I would be happy to use Bitcoin for daily payments, but some people have said that they will not sell their own Bitcoins and have been waiting for the price of Bitcoin to rise.
Do you think Bitcoin will be devalued in the future?
Bitcoin has much to offer to us that are investors and traders with great optimism of the price going further with absolute bullish movement.
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