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Topic: Time to stop using Bitcoin as a form of investment and start using it as payment - page 4. (Read 750 times)

member
Activity: 121
Merit: 13
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.

Bitcoin needs to find a stable value. That value will probably be somewhere between 2000 and 3000 dollars. We are all hoping for the growth but for the Bitcoin to stabilize itself and people start using it as a source of the standard payments it should actually fall. This current price is so volatile and that isn't promising as a source of payment. Bitcoin is still very good for the investors that are accumulating it and using it as a profit gaining machine. I don't know for certain what the future will bring but for now, the shoes will still need to be bought with the FIAT.
full member
Activity: 198
Merit: 100
It's a good idea, because bitcoins have made the payment faster and cheaper and become popular.But by the way we also find it hard to consider it as a form of payment system. Because of its volatile and unstable price. But only one answer would be to keep the whales in control of the market.
full member
Activity: 294
Merit: 107
That's impossible to achieve, at least now. Many new investors buy Bitcoin only because they want to sell it for slightly higher price. Not to mention ordinary people who will dump Bitcoin if its price decreases. People will treat Bitcoin as a currency if there will be more shops accepting Bitcoin. Lightning Network should help us with that but it will take a couple of months more for it to become popular.
newbie
Activity: 294
Merit: 0
It’s a good perception based on this system we really need this to use it now because its already developed based on this many country accepting this currency also in some country the open BTC atm because of this you should use this crypto with fiat money so that it can be more popular.
newbie
Activity: 124
Merit: 0
It's born and developed as a payment instrument, but it's really well known only when it's a huge investment, high return!
newbie
Activity: 280
Merit: 0
Mainly its really high time to take any step based on this crypto is using with fiat money in some perspective also you can pay property rent with it also Nederland govt. put btc atm in their airport so we can see the users are increasing nowadays so it should be used with fiat money also.
newbie
Activity: 266
Merit: 0
This was a very informative post. You are right. Bitcoin is the most potential cryptocurrency in the world and it's time when it should be used for payment.
full member
Activity: 323
Merit: 100
As of now that bitcoin has a lower price I don't think it is better to be as a payment especially not all governments are accepting bitcoin so it not all countries will use it as a payment and it is unfair for some people who are using bitcoin eventhough it is not acceptable in their country so we must should let businessmen invest more and more and let people recognize it first before implementing it right away.
member
Activity: 518
Merit: 11
we know that bitcoin has many advantages and also has many positive things, so bitcoin not only makes us happy, but bitcoin also makes us rich quickly because of uncontrolled fluctuations.

but I think that all the bitcoin functions like investing, being a tool of transactions, and trading cannot be separated. so all the bitcoin functions will always be used by everyone. and that's what will make bitcoin last for long time.
full member
Activity: 546
Merit: 102
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)

yes i am a bit agree with your opinion
bitcoin should be a payment system rather than a form of investment
but what makes bitcoin a form of investment is the limited supply of bitcoin itself
and also to get bitcoin must be from mining activities
you also know to mine bitcoin should be with equipment that is not cheap and use high electricity costs

so i think until all bitcoin supply has been mined until then bitcoin will still be an investment form
member
Activity: 490
Merit: 11
if now we do, then the whales will benefit very much today
if you want to control bitcoin, you have to control whales behind bitcoin, because they are the original bitcoin players
hero member
Activity: 1232
Merit: 738
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If we want something we should just get it and not wait to make a profit.
that would surely returns bitcoin to its function as a peer to peer currency
but sadly most people hodl bitcoin as an investment for the purpose of making profit Undecided  
the reason for that is because some countries prohibit the use of bitcoin as a mean of payment
so to avoid getting into problems, they are just using it as a form investment or commodity trading
full member
Activity: 581
Merit: 108
From what OP said its a practical solution of what we can achieve from been United and In my opinion I too think the best way to see bitcoin grow in value is more everyday use and less long term investments as this idea of not using btc for everyday usage is giving away the advantage crypto had,  forget about Visas upper hand of processing a lot more transactions than btc and lets wait for the lightning network to be fully operational and be able to compete once this is rolled out....for know we need to remind ourselves why btc came to life in the first place!!
newbie
Activity: 210
Merit: 0
Well, very good topic I appreciate you. I also think that bitcoin shouldn’t be use as a forum of investment rather than it can be used as a way of payment. It will make the things better.
newbie
Activity: 210
Merit: 0
I agree with you partially. Because when people invest in bitcoin for making some profit, demand will be in a form. But the form or demand will be changed when you will buy it for payment system. But ultimately the value of bitcoin will affect your purchasing capability.
jr. member
Activity: 126
Merit: 1
That's a good advice. Many people are not using bitcoin as in different countries it has not been legalized. However, in different companies the compensation of employees are given through bitcoin. I hope in future more companies and sectors will start using it as a means of payment. I'm very optimistic about it.
sr. member
Activity: 1456
Merit: 267
Buy $BGL before it's too late!
If Bitcoins became stable like fiat money where there is only small movements instead of the huge volitilty which is caused from people trying to make a quick buck,  by pumping and dumping then maybe more people would start to use it as currency which is what it was meant to be used for.
That's right, when bitcoin stop this huge fluctuations and begin to be more stable then people will start to get attached and used it as a currency, what is happening right now are pushing away possible users, after seeing the heavy downfall they will be afraid to exchange their money, they won't used it for possible transactions being used in any payments as they are worried that the value will decrease any time when downfall happen again.
hero member
Activity: 798
Merit: 505
It is hard to use Bitcoin as mode of payment at its state now since it is going down. You might lose, it is better to wait for the price to increase so you will benefit more even as you use as mode if payment.

For how long are we going to wait? Won't that just make us misers?

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.

That's overthinking: If I do this, this will happen. If I do that, that'll happen, what if instead of it going to 80$ it goes to 40$, you will feel happy then, but what about the person whom you bought it from, he'll be at loss won't he? We need to start thinking about others before ourselves and need to stop overthinking because it ain't gonna do us much good , this will be the stepping stone to make a better society.

If we want something we should just get it and not wait to make a profit.

We are a community created for the people, by the people.

(P.S. No hard feelings)
Why stop the former when you can have them both functioning for our own good. Investing in bitcoin means a lot to many of us in here because we found a chance to be rich. We can use it as a payment only if we have our own account. Investing in bitcoin is the start of getting involve to it and. using it as a payment is just a perk.

though the main reason why bitcoin is made is that we could pay  fast , efecient and low fees though at the time goes by it is using for investment and trading which  the reason why bitcoin is getting bigger and bigger over the time. Remember the pizza day? someone here in forum want to buy pizza using bitcoin and that is bitcoin starts climbing and notice by everyone.
hero member
Activity: 1974
Merit: 502
Vave.com - Crypto Casino
It is hard to use Bitcoin as mode of payment at its state now since it is going down. You might lose, it is better to wait for the price to increase so you will benefit more even as you use as mode if payment.

For how long are we going to wait? Won't that just make us misers?

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.

That's overthinking: If I do this, this will happen. If I do that, that'll happen, what if instead of it going to 80$ it goes to 40$, you will feel happy then, but what about the person whom you bought it from, he'll be at loss won't he? We need to start thinking about others before ourselves and need to stop overthinking because it ain't gonna do us much good , this will be the stepping stone to make a better society.

If we want something we should just get it and not wait to make a profit.

We are a community created for the people, by the people.

(P.S. No hard feelings)

I don't understand the reason for saying to stop investing in bitcoin. Remember that investing in here is the start of involvement. You can't have bitcoin and use it as a payment if you don't have one. It's very irrelevant so please enlighten me cause it's very misleading. Start by investing and using it as a payment is just a function.
sr. member
Activity: 812
Merit: 250
It is hard to use Bitcoin as mode of payment at its state now since it is going down. You might lose, it is better to wait for the price to increase so you will benefit more even as you use as mode if payment.

For how long are we going to wait? Won't that just make us misers?

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.

That's overthinking: If I do this, this will happen. If I do that, that'll happen, what if instead of it going to 80$ it goes to 40$, you will feel happy then, but what about the person whom you bought it from, he'll be at loss won't he? We need to start thinking about others before ourselves and need to stop overthinking because it ain't gonna do us much good , this will be the stepping stone to make a better society.

If we want something we should just get it and not wait to make a profit.

We are a community created for the people, by the people.

(P.S. No hard feelings)
Why stop the former when you can have them both functioning for our own good. Investing in bitcoin means a lot to many of us in here because we found a chance to be rich. We can use it as a payment only if we have our own account. Investing in bitcoin is the start of getting involve to it and. using it as a payment is just a perk.
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