Topic: The use of Bitcoin - page 6. (Read 1439 times)
Bitcoin is being used as an alternative payment system. Also, it is used by most of the people as a long term investment since the value of bitcoin is volatile so it may rise or fall from time to time. People use bitcoin because they find it more convenient rather than fiat. Because you don't need to bring fiat. All you need to bring is your phone and you can shop and pay online or cashless. Sooner or later bitcoin will use in all payment method and many payment processors will adopt on this. It will well be known in the mainstream.
This is just an alternative payment just in case, As you said it would be really difficult for other people to adopt it because it requires Mobile Phone, Internet and bitcoin usage. And yet we do not know what the price of bitcoin will be as it is rising and falling which in turn affects the right price to buy in the stores. The price of bitcoin must be stable before it happens, And I think it's unlikely that it will happen.
Correct. Although bitcoin gets legality, I think it will only be an alternative payment. In fact, bitcoin is very volatile, as you say, of course, the seller is quite difficult to put up prices, especially for daily needs such as food, drinks, etc. Moreover, bitcoin is more effectively used as an investment tool and commodity trade, rather than as a means of payment. Except for certain circumstances and an agreement between the two, of course, we agree that it is more effective. There are still many obstacles related to facilities and infrastructures, including human resources that have not fully supported if cryptocurrency replaces fiat. More precisely complementary to overcome the limitations of each between fiat and cryptocurrency. Bitcoin is a digital currency.
Bitcoin has a limited supply.
Bitcoin is volatile.
Bitcoin always needs internet.
If government legalized and use bitcoin like fiat currency,to what extent it can be used? I just thinking that it was very difficult if ever it will happen someday especially for the young children's. Unlike in fiat currency even a two years old kid can buy in a store using it but if bitcoin,i don't think so ,even those old people who do not know how to use a cellphone,computer and other gadgets. It will be difficult for them.I'm just curious guys and want to know your opinion.
Bitcoin has a limited supply.
Bitcoin is volatile.
Bitcoin always needs internet.
If government legalized and use bitcoin like fiat currency,to what extent it can be used? I just thinking that it was very difficult if ever it will happen someday especially for the young children's. Unlike in fiat currency even a two years old kid can buy in a store using it but if bitcoin,i don't think so ,even those old people who do not know how to use a cellphone,computer and other gadgets. It will be difficult for them.I'm just curious guys and want to know your opinion.
This is just an alternative payment just in case, As you said it would be really difficult for other people to adopt it because it requires Mobile Phone, Internet and bitcoin usage. And yet we do not know what the price of bitcoin will be as it is rising and falling which in turn affects the right price to buy in the stores. The price of bitcoin must be stable before it happens, And I think it's unlikely that it will happen.
It's true that Bitcoin has a limited supply and the price is very volatile in recent time, but in my opinion, is that Bitcoin should be used as the payment method because it's a digital currency, I think Bitcoin might be made for this reason, but due to some lackings, Bitcoin is not enough mature to become a potential payment method, like the internet access, network access time, approval time and low accessibility to the market, most important thing is that Bitcoin price is very volatile and unstable so business person doesn't get interested to use as payment receiver, but if the networking delay would be fixed then it will be a good method of payment in the coming days for sure. but the government approval is yet to be a matter of concern.
Bitcoin is a digital currency.
Bitcoin has a limited supply.
Bitcoin is volatile.
Bitcoin always needs internet.
If government legalized and use bitcoin like fiat currency,to what extent it can be used? I just thinking that it was very difficult if ever it will happen someday especially for the young children's. Unlike in fiat currency even a two years old kid can buy in a store using it but if bitcoin,i don't think so ,even those old people who do not know how to use a cellphone,computer and other gadgets. It will be difficult for them.I'm just curious guys and want to know your opinion.
Bitcoin has a limited supply.
Bitcoin is volatile.
Bitcoin always needs internet.
If government legalized and use bitcoin like fiat currency,to what extent it can be used? I just thinking that it was very difficult if ever it will happen someday especially for the young children's. Unlike in fiat currency even a two years old kid can buy in a store using it but if bitcoin,i don't think so ,even those old people who do not know how to use a cellphone,computer and other gadgets. It will be difficult for them.I'm just curious guys and want to know your opinion.
That is actually a feature. 2 year olds should not be buying things in a store to begin with...
Legalizing Bitcoin doesn't necessarily mean extinguishing your fiat, you can probably keep using both in parallel. But suppose the fiat is killed entirely, i have an idea that, you can go to a shop/venue/whatever and purchase tokens in a machine with your bitcoins. Think amusement park, but instead of using fiat for the tickets, you use bitcoin. In fact you could buy them in advance and pay the lowest transfer fee, then your little ones could use them just fine in the rides they want to go the actual day.
This can be extended to anything, not just amusement parks...
You could also use some sort of card that could be refilled this way, not unlike what mass transport systems use in many countries. The elderly use those cards in those countries just fine (ie. Hong Kong).
Bitcoin is not volatile, its free. Price fluctuation is a good sign, it means freedom, and don't forget its limited, i will always tend to go up because the other coins are unlimited in supply.
Bitcoin is a digital currency.
CorrectQuote
Bitcoin has a limited supply.
Wrong bitcoin only has 21million supply in which 18 million is now in circulation and another 3 million to be minedQuote
Bitcoin is volatile.
Bitcoin always needs internet.
Both are correct and indeedBitcoin always needs internet.
Quote
If government legalized and use bitcoin like fiat currency,to what extent it can be used? I just thinking that it was very difficult if ever it will happen someday especially for the young children's. Unlike in fiat currency even a two years old kid can buy in a store using it but if bitcoin,i don't think so ,even those old people who do not know how to use a cellphone,computer and other gadgets. It will be difficult for them.I'm just curious guys and want to know your opinion.
Lol even 3 years old baby now know how to use internet and what does children do with money?parents are responsible for them so don’t make things difficult for us here,Bitcoin and fiat are adult thing and not a toys for children’s 
how can you say it like that, all will be able to do if socialization is done first, but the right to do socialization for everyone is only the government, now our task is to make the government approve of the existence of bitcoin as a legal currency, so that it can happen ..
Bitcoin is a digital currency.
Bitcoin has a limited supply.
Bitcoin is volatile.
Bitcoin always needs internet.
If government legalized and use bitcoin like fiat currency,to what extent it can be used? I just thinking that it was very difficult if ever it will happen someday especially for the young children's. Unlike in fiat currency even a two years old kid can buy in a store using it but if bitcoin,i don't think so ,even those old people who do not know how to use a cellphone,computer and other gadgets. It will be difficult for them.I'm just curious guys and want to know your opinion.
Kids nowadays learn fast especially if the internet involves hence learning about crypto will be no problem.And if it does legalize by government I am pretty sure that this will be taught in schools so that children are now don't confuse to use this thing. However, I think were are not ready yet to accept bitcoin as a mode of payment across the world simply because there are some countries that have a lack of facilities to access the internet especially rural places. Bitcoin has a limited supply.
Bitcoin is volatile.
Bitcoin always needs internet.
If government legalized and use bitcoin like fiat currency,to what extent it can be used? I just thinking that it was very difficult if ever it will happen someday especially for the young children's. Unlike in fiat currency even a two years old kid can buy in a store using it but if bitcoin,i don't think so ,even those old people who do not know how to use a cellphone,computer and other gadgets. It will be difficult for them.I'm just curious guys and want to know your opinion.
and it still takes a very long time for bitcoin to be known by everyone everywhere evenly to convince them to be able to use bitcoin, and most people only know the name of bitcoin but don't know more clearly about the benefits of bitcoin.
bitcoin will not be equated with fiat I think its uniqueness with high exchange rates also makes bitcoin similar to the value of a diamond ,its use in the future be able to send on a large scale for trade between countries I think this very suitable unique payments through online
Bitcoin is a digital currency.
Bitcoin has a limited supply.
Bitcoin is volatile.
Bitcoin always needs internet.
If government legalized and use bitcoin like fiat currency,to what extent it can be used? I just thinking that it was very difficult if ever it will happen someday especially for the young children's. Unlike in fiat currency even a two years old kid can buy in a store using it but if bitcoin,i don't think so ,even those old people who do not know how to use a cellphone,computer and other gadgets. It will be difficult for them.I'm just curious guys and want to know your opinion.
Bitcoin has a limited supply.
Bitcoin is volatile.
Bitcoin always needs internet.
If government legalized and use bitcoin like fiat currency,to what extent it can be used? I just thinking that it was very difficult if ever it will happen someday especially for the young children's. Unlike in fiat currency even a two years old kid can buy in a store using it but if bitcoin,i don't think so ,even those old people who do not know how to use a cellphone,computer and other gadgets. It will be difficult for them.I'm just curious guys and want to know your opinion.
User-friendly interfaces will come. Bank cards and ApplePay were not seen simple at the beginning. Kids learn fast, older people gradually learn how to deal with technology.
I think it will be more of another mode of payment or money transfers. If the government will legalized bitcoin then it will work like of Paypal wherein you can use it as a payment for goods and services online and if it will be used to pay at a store I guess it will be like bank cards wherein they have terminals that reads the code for bitcoin. However, I think government legalizing bitcoin is a bit impossible now because not all in the government is with bitcoin, I guess majority is against it so may it will happen in the future.
It could only be our supporting currency. It could still grow as a currency and as a mode of payment if the government will adopt it in the future. We can't deny the fact that it couldn't beat fiat being universal and physical currency but it could provide more convenient and instant transactions. It will be easier for the future generation to adopt and learn the proper usage of it as well since our technology is growing and developing continuously.
Bitcoin is a digital currency.
Bitcoin has a limited supply.
Bitcoin is volatile.
Bitcoin always needs internet.
If government legalized and use bitcoin like fiat currency,to what extent it can be used? I just thinking that it was very difficult if ever it will happen someday especially for the young children's. Unlike in fiat currency even a two years old kid can buy in a store using it but if bitcoin,i don't think so ,even those old people who do not know how to use a cellphone,computer and other gadgets. It will be difficult for them.I'm just curious guys and want to know your opinion.
Maybe you are right that technology is very difficult to teach by children, because this transaction is not as easy as using cash. It's also good, imagine letting a child do a transaction without the knowledge of an adult, it's scary. Based on research that children over 5 years are already very interested in gadgets, this is due to their environment. Technology is advancing and I think it only takes time to understand technology, this year people who are left behind in the technology aspect will find it difficult to be successful. Bitcoin has a limited supply.
Bitcoin is volatile.
Bitcoin always needs internet.
If government legalized and use bitcoin like fiat currency,to what extent it can be used? I just thinking that it was very difficult if ever it will happen someday especially for the young children's. Unlike in fiat currency even a two years old kid can buy in a store using it but if bitcoin,i don't think so ,even those old people who do not know how to use a cellphone,computer and other gadgets. It will be difficult for them.I'm just curious guys and want to know your opinion.
Bitcoin is a digital currency.
Bitcoin has a limited supply.
Bitcoin is volatile.
Bitcoin always needs internet.
If government legalized and use bitcoin like fiat currency,to what extent it can be used? I just thinking that it was very difficult if ever it will happen someday especially for the young children's. Unlike in fiat currency even a two years old kid can buy in a store using it but if bitcoin,i don't think so ,even those old people who do not know how to use a cellphone,computer and other gadgets. It will be difficult for them.I'm just curious guys and want to know your opinion.
Kids nowadays learn fast especially if the internet involves hence learning about crypto will be no problem.And if it does legalize by government I am pretty sure that this will be taught in schools so that children are now don't confuse to use this thing. However, I think were are not ready yet to accept bitcoin as a mode of payment across the world simply because there are some countries that have a lack of facilities to access the internet especially rural places. Bitcoin has a limited supply.
Bitcoin is volatile.
Bitcoin always needs internet.
If government legalized and use bitcoin like fiat currency,to what extent it can be used? I just thinking that it was very difficult if ever it will happen someday especially for the young children's. Unlike in fiat currency even a two years old kid can buy in a store using it but if bitcoin,i don't think so ,even those old people who do not know how to use a cellphone,computer and other gadgets. It will be difficult for them.I'm just curious guys and want to know your opinion.
if bitcoin is legalized directly by the government, that might not mean paper currency (fiat) can no longer sell and buy anymore because fiat money is money issued by the government and also the legacy of our ancestors, but if the government legalized cryptocurrency like bitcoin might make it very easy for many people to transact and shop for people's needs using their electronic technology.
Bitcoin still far away to be an attractive means of payment, all the complicated steps to use it isn't convenient to many people which is the obstacle today. Retailers and merchants have to cooperate with exchanges to convert bitcoin to fiat currencies. Bitcoin can be a medium of exchange but can't equalize to fiat cash.
As of today, others may not see bitcoin that useful but in the future, they'll be able to recognize what it can do to help them. Bitcoin doesn't have to replace fiat when it's been legalized. You know how gold works today? It has a value, it can be an asset but it does not mean gold are being used by children and adult to buy at a store. Bitcoin can work like that, but the difference is that bitcoin is digital.
You don't need to worry about young children and old people because Bitcoin will surely co-exist with fiat currency in the future. Bitcoin is not created to erase the existence of fiat currency instead it give us an option on how we can spend our funds in a digital method. Humans have brain that works like a computer so I'm pretty sure that as time goes by they will learn how to use Bitcoin in a proper way.
One of the uses of bitcoin is a source of income to every individual. It could be an investment where return is satisfying. Also, bitcoin could use as payment; it could be an online payment or online transaction.
If bitcoin is indeed legalized by the government, it will not be able to directly replace the role of fiat. Because of several sectors of human
life are more suitable to use fiat than bitcoin. And if it is true bitcoin wants to replace the role of fiat, change must be done in transition.
How good is Bitcoin and Fiat walking side by side first, after all humans can adapt then bitcoin can replace the role of fiat as a whole.
But the transition period will also last long enough can be up to 5 years in my opinion.
Bitcoins is actually very young and it's too early to start speaking about it replacing the national currency of sovereign countries and lots of countries have already legalized the use of cryptos in their countries to be used for anything, right now we need major retailers to start accepting Bitcoins as a method method, it would bring a huge boost to the current value. life are more suitable to use fiat than bitcoin. And if it is true bitcoin wants to replace the role of fiat, change must be done in transition.
How good is Bitcoin and Fiat walking side by side first, after all humans can adapt then bitcoin can replace the role of fiat as a whole.
But the transition period will also last long enough can be up to 5 years in my opinion.
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