Topic: Time to stop using Bitcoin as a form of investment and start using it as payment (Read 749 times)
August 02, 2018, 11:52:26 PM
In order to stop using Bitcoin as an investment of funds and begin to use as a means of calculation, it is necessary a lot of coordination of financial supervision departments.
August 02, 2018, 11:50:02 PM
Probably the reason why people are not using bitcoin as payment because of its volatility. If you buy a shoes worth .01 btc or roughly $60 and tomorrow that .01 btc will be worth $80 so that you just paid $20 over the price of that shoes. So that won't really mean good for you. So i think bitcoin being so volatile makes people not want to use it as payment.
Proceeding from what you said, it turns out that bitcoin is only then massively used as a means of payment when it reaches its maximum price. That is, when this happens, no one can say. In other words, bitcoin will not yet be used massively as a means of payment, that is, as virtual money, because everyone is still hoping for its rise in price. However, when people are convinced that bitcoin will not grow in price, it can only be if it falls very low in value and practically becomes useless to nobody. Hence the conclusion - bitcoin will almost never be used primarily as a means of payment, but only as a speculative means of accumulating value. This is a dead-end option for its development, because in any case it will lead to the rupture of its bubble, it is inevitable. August 01, 2018, 07:34:48 PM
I agree with your point but I think this has become an issue because of
1. Btc volatility
2. The transaction fee.
Many of us here have been thinking same but the fact is, we are not willing to do that either especially when the price falls so I do think for this to happen, we need to initiate it.
1. Btc volatility
2. The transaction fee.
Many of us here have been thinking same but the fact is, we are not willing to do that either especially when the price falls so I do think for this to happen, we need to initiate it.
August 01, 2018, 07:09:15 PM
Listen to me.
Look I know we are a free community, but come on don't you think the price has become so volatile during the past few months just because people started using it as a form of investment. I've seen people buy in low, in hopes of selling it at high, and that's basically pump and dump.
Bitcoin wasn't created to make us rich over night but was created so we could have control over our money and not the bankers. It was created so we could be free, so there won't be any borders telling us we are different from them so we can't trade with them. To be united, but all I see are people only talking about how much profit they've made, not about how it can help people that don't have access to banks(they do but it's a minority).
We live in a society where we take everything for granted, just like we've taken Bitcoin for granted. We don't deserve it. The ones that deserve it don't have access to it.
At the end of the day we become savages and only think about the profit not the good that it can do for us, instead of making us rich.
Yes, I was introduced to it because of the investment, but I was a fool at that time, I couldn't see the bigger picture.
We are a community created for the people, by the people.
(P.S. If you don't see Bitcoin as investment, then be proud of it, and hope it can help us be united, for it's all that we have left against them)
Look I know we are a free community, but come on don't you think the price has become so volatile during the past few months just because people started using it as a form of investment. I've seen people buy in low, in hopes of selling it at high, and that's basically pump and dump.
Bitcoin wasn't created to make us rich over night but was created so we could have control over our money and not the bankers. It was created so we could be free, so there won't be any borders telling us we are different from them so we can't trade with them. To be united, but all I see are people only talking about how much profit they've made, not about how it can help people that don't have access to banks(they do but it's a minority).
We live in a society where we take everything for granted, just like we've taken Bitcoin for granted. We don't deserve it. The ones that deserve it don't have access to it.
At the end of the day we become savages and only think about the profit not the good that it can do for us, instead of making us rich.
Yes, I was introduced to it because of the investment, but I was a fool at that time, I couldn't see the bigger picture.
We are a community created for the people, by the people.
(P.S. If you don't see Bitcoin as investment, then be proud of it, and hope it can help us be united, for it's all that we have left against them)
I agree to what you are telling us all you have said is true. For me BTC is a form of an investment and I am proud of it and I also see the BTC as it can help peoples who have a financial problem. For those who just want an earning from the BTC then it is not for them because in BTC it is not an earning for a day but it is an earning for a month you have to work for it for a months then you have to wait for your reward/earning from that month that you have work. Trading is not an earning for a day but for the week because in trading you have to monitor the price for a week before you can trade it. If you buy and then trade it right away then you will eventually might lose what you have invested. So for me if you buy now then you have to monitor the price for a week or lets say 3days before you trade it.
August 01, 2018, 06:22:06 PM
This is ideal because this is actually what Bitcoin was created for. But we cannot really sway users from investing because they do see the great potential for profit in it. I wouldn't say that seeing Bitcoin as an investment rather than a form of payment is a disadvantage. This is just one of Bitcoin's features that many of us can take advantage of.
It is a big consideration and the question is when it start?We knew already bitcoin isn't accepted by some merchants and yet, establishments isn't ready for this form of currency. Of course, they'll take chances of gaining more profit than of using it as payment for their transactions.
August 01, 2018, 06:13:18 PM
This is ideal because this is actually what Bitcoin was created for. But we cannot really sway users from investing because they do see the great potential for profit in it. I wouldn't say that seeing Bitcoin as an investment rather than a form of payment is a disadvantage. This is just one of Bitcoin's features that many of us can take advantage of.
August 01, 2018, 05:49:55 PM
Since the vision of Satoshi to make bitcoin as a digital currency has swerved from payment for any commodities and services to investment scheme, it is really hard already to take that notion away from people especially those who already earned and become wealthy due to bitcoin / crypto investment.
August 01, 2018, 06:10:07 AM
It's so hard to see it in that way, even if Lighting Network can reduce the fees, it's about peolple's choice to make it happen. And when they are feared about losing cost opportunity it's inevitable to use it as an investment.
Unlucky no one seems to care about social revolution but to gain personal profit.
Unlucky no one seems to care about social revolution but to gain personal profit.
August 01, 2018, 06:05:39 AM
We can't really change how it has become. People come here for profit but who can blame them? Bitcoin has become a speculative asset that people make profit from.
August 01, 2018, 05:19:04 AM
It's a reality that people will think bitcoin as investment due to decentralize currency and in the future when all people will hold the supply will become limited and this will make the price rise to higher with a bigger profits those who hold. Although i see many countries use it as currency but here in my country I never see any department store that accepts bitcoin or cryptocurrency. We need to increase more adoption of bitcoin if we want this to be use as currency.
August 01, 2018, 05:00:56 AM
Listen to me.
Look I know we are a free community, but come on don't you think the price has become so volatile during the past few months just because people started using it as a form of investment. I've seen people buy in low, in hopes of selling it at high, and that's basically pump and dump.
Bitcoin wasn't created to make us rich over night but was created so we could have control over our money and not the bankers. It was created so we could be free, so there won't be any borders telling us we are different from them so we can't trade with them. To be united, but all I see are people only talking about how much profit they've made, not about how it can help people that don't have access to banks(they do but it's a minority).
We live in a society where we take everything for granted, just like we've taken Bitcoin for granted. We don't deserve it. The ones that deserve it don't have access to it.
At the end of the day we become savages and only think about the profit not the good that it can do for us, instead of making us rich.
Yes, I was introduced to it because of the investment, but I was a fool at that time, I couldn't see the bigger picture.
We are a community created for the people, by the people.
(P.S. If you don't see Bitcoin as investment, then be proud of it, and hope it can help us be united, for it's all that we have left against them)
bitcoins are created for digital currencies and they may be groups that want to forgive bitcoin as an investment, so bitcoin remains as a digital currency and can still be used as an investment. Look I know we are a free community, but come on don't you think the price has become so volatile during the past few months just because people started using it as a form of investment. I've seen people buy in low, in hopes of selling it at high, and that's basically pump and dump.
Bitcoin wasn't created to make us rich over night but was created so we could have control over our money and not the bankers. It was created so we could be free, so there won't be any borders telling us we are different from them so we can't trade with them. To be united, but all I see are people only talking about how much profit they've made, not about how it can help people that don't have access to banks(they do but it's a minority).
We live in a society where we take everything for granted, just like we've taken Bitcoin for granted. We don't deserve it. The ones that deserve it don't have access to it.
At the end of the day we become savages and only think about the profit not the good that it can do for us, instead of making us rich.
Yes, I was introduced to it because of the investment, but I was a fool at that time, I couldn't see the bigger picture.
We are a community created for the people, by the people.
(P.S. If you don't see Bitcoin as investment, then be proud of it, and hope it can help us be united, for it's all that we have left against them)
July 23, 2018, 05:53:44 AM
I don't think so, at least at the moment, because the volatility of bitcoin is still high, once day you use bitcoin to buy stuff, the day after, the price of one bitcoin could go up to thousand dollar, that means you might spend more to buy something with the same value. Then it won't be a right choice
July 23, 2018, 05:37:28 AM
I think it is always good time to start investing in it. You don't need to stop it if you want to make payments. Technologies are still growing up and what kind of payments you can do depands from them. Getting profit and making payments are two different same but the same for everyone personally.
July 15, 2018, 09:32:54 PM
Can't wait for that day! Remove all the middle men!
Listen to me.
Look I know we are a free community, but come on don't you think the price has become so volatile during the past few months just because people started using it as a form of investment. I've seen people buy in low, in hopes of selling it at high, and that's basically pump and dump.
Bitcoin wasn't created to make us rich over night but was created so we could have control over our money and not the bankers. It was created so we could be free, so there won't be any borders telling us we are different from them so we can't trade with them. To be united, but all I see are people only talking about how much profit they've made, not about how it can help people that don't have access to banks(they do but it's a minority).
We live in a society where we take everything for granted, just like we've taken Bitcoin for granted. We don't deserve it. The ones that deserve it don't have access to it.
At the end of the day we become savages and only think about the profit not the good that it can do for us, instead of making us rich.
Yes, I was introduced to it because of the investment, but I was a fool at that time, I couldn't see the bigger picture.
We are a community created for the people, by the people.
(P.S. If you don't see Bitcoin as investment, then be proud of it, and hope it can help us be united, for it's all that we have left against them)
Look I know we are a free community, but come on don't you think the price has become so volatile during the past few months just because people started using it as a form of investment. I've seen people buy in low, in hopes of selling it at high, and that's basically pump and dump.
Bitcoin wasn't created to make us rich over night but was created so we could have control over our money and not the bankers. It was created so we could be free, so there won't be any borders telling us we are different from them so we can't trade with them. To be united, but all I see are people only talking about how much profit they've made, not about how it can help people that don't have access to banks(they do but it's a minority).
We live in a society where we take everything for granted, just like we've taken Bitcoin for granted. We don't deserve it. The ones that deserve it don't have access to it.
At the end of the day we become savages and only think about the profit not the good that it can do for us, instead of making us rich.
Yes, I was introduced to it because of the investment, but I was a fool at that time, I couldn't see the bigger picture.
We are a community created for the people, by the people.
(P.S. If you don't see Bitcoin as investment, then be proud of it, and hope it can help us be united, for it's all that we have left against them)
July 15, 2018, 09:21:14 PM
I totally agree with you for payment or transaction, because Bitcoin has a value that can not be in fake or made twice.
I think it's a constraint when the price of Bitcoin fluctuate then the price can not be controlled, let's say today we buy a motorcycle with 1 Bitcoin at $ 6,000 but tomorrow Bitcoin rises in price to 1 BItcoin = $ 8,000, then the price move in an instant this can be a miss komukiasi in the price of goods (motorcycle).
I think it's a constraint when the price of Bitcoin fluctuate then the price can not be controlled, let's say today we buy a motorcycle with 1 Bitcoin at $ 6,000 but tomorrow Bitcoin rises in price to 1 BItcoin = $ 8,000, then the price move in an instant this can be a miss komukiasi in the price of goods (motorcycle).
July 15, 2018, 02:58:39 AM
If we're going to use bitcoin as a form of payment then the first thing to do is to stabilize the currency itself, since bitcoin was made decentralized its only become another issue. I don't want to buy an item with bitcoin for $1k just to know that the value will drop 10% the next day. Thats why lots of merchant trying to implement cryptocurrencies is thinking about. Since bitcoin price purely made by market or should i said that its hardly manipulated unless some "whale" holders were starting to jump off the board. 
July 15, 2018, 02:51:23 AM
One big drawback of Bitcoin which makes it inapplicable for small daily purchases is the transaction fees. These fees will rack up rather quickly if you don't use cash for things as small as a bottle of water or bus tickets. Bank-issued cards have 0% fees when used at a POS by customers, because the merchants are covering the fees unlike Bitcoin where we need to pay the miners so that we can move our coins around in due time. Money transmission of sizeable sums is where Bitcoin shines though, because banks charge more for international transactions while Bitcoin has a flat fee which is extremely small in comparison. In a nutshell, Bitcoin can save you a lot of fees when sending big amounts and cost you dearly when buying small things frequently.
July 15, 2018, 02:47:11 AM
What OP say fits perfectly with what I expect, unfortunately governments in our country strictly prohibit if bitcoin's used as a currency (means of payment) and the government strongly condemns for those who adopt it.
July 15, 2018, 02:40:06 AM
absolutely concur with you, yet I don't believe it's that straightforward. We cant basically separate the two things, and despite the fact that fiat exists for individuals to utilize it to purchase and offer things, we have forex markets, where individuals simply exchange it for benefit. So my point is, that we will dependably have the two things in bitcoin, and that is splendidly ordinary. We do need to expand BTC utilize case, since right currently there are not very many individuals that utilization it as a money, yet we don't generally have a ton of alternatives to do that, so BTC still needs to develop facilitate first.
July 15, 2018, 02:29:44 AM
It's a good idea to say that because bitcoins have made the payment faster and become less fee, But on the one hand we also find it difficult to consider it as a form of payment because of its volatile price. But only one answer would be to keep the whales in control of the market that are hard to accomplish.
I've also agree with this kind of idea. Bitcoin transaction is more faster than anyone else and it also less fee so other people will be able to patronize this kind of transaction. If we use bitcoin as a payment in every things we buy or sell. But due to the volatile price of bitcoin in the market, I think it's hard to introduce this to be a payment form.
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