Yes absolutely, bitcoin is a revolutionary step towards a more convenient world as it will make transactions easier for anyone. And the biggest advantage will be it's security features. It is better that we start using it as a mode of payment rather than an investment option.
Please read our blog: Reasons to fall in love with cryptocurrencies. Click here
Topic: Time to stop using Bitcoin as a form of investment and start using it as payment - page 5. (Read 749 times)
June 25, 2018, 05:48:47 AM
June 25, 2018, 05:15:54 AM
it's not easy to make bitcoin just as a transactional tool considering the price of the bitcoin that keeps moving between up and down quickly. so to make a pure bitcoin just for a means of transactions would of course need the right time when bitcoin prices have a very stable movement.
June 25, 2018, 05:07:45 AM
well if you think of using it for making payment then it now depend on what you want to buy and how much more are bitcoin being used as form of payment just like credit card and paypal. bitcoin is still struggling to be used as form of payment because many people still think it still lack feature of been used as a legal tender. volatility is another reason why some merchant will not want to use bitcoin as payment processor because they are also in big risk holding bitcoin especially when the price goes down
June 25, 2018, 05:03:22 AM
There has been some that take bitcoin as payment for their product,but i think it's still too early.Majority of bitcoin is held by some whale and the distribution is not even.If all people have bitcoin,that's when it can be used as payment,but now,it's too early.
June 25, 2018, 05:00:10 AM
And many guys have long used Bitcoin as a means of payment. Every year, the number of transactions for payment of goods is growing.
June 25, 2018, 04:33:00 AM
Well, I totally agree with you this. I too want acceptance of bitcoin in day to day life and all sort of payment. Then we could use it as currency too. Using it as payment along with investment is necessary now.
June 25, 2018, 04:19:36 AM
Yes, I definitely agree with the proposal of the author of this thread. In my opinion, most of the people that are with btc were more on investment mainly because of the immediate return of profit once it pump up. Using btc as a payment system is what the author's best proposal to let the people know that btc is not only for investment and it be use for another purpose. Let's support this idea as this is will make btc maintain in the mainstream of the crypto market.
June 25, 2018, 03:54:01 AM
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.
June 25, 2018, 03:24:10 AM
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)
June 25, 2018, 02:38:51 AM
a very good point and i completely agree with it.
but it doesn't have to be only one. you can do both. you can use bitcoin as a currency but also have it as an investment. for example you buy bitcoin today at $1 to be able to spend it as a currency when it is worth $2 which satisfies both investment and currency aspect of it.
the price rise, the volatility that comes with it and the fact that people will use it as an investment is inevitable.
Actually, bitcoin has a lot of purposes and uses. It can be used for payment transaction or it can be good for investments, but I'll really believe that it depends on us on how we able to used it. If we think that investment to it are very helpful to us then why not, we don't need to stopped it, just do what the best for ourselves. but it doesn't have to be only one. you can do both. you can use bitcoin as a currency but also have it as an investment. for example you buy bitcoin today at $1 to be able to spend it as a currency when it is worth $2 which satisfies both investment and currency aspect of it.
the price rise, the volatility that comes with it and the fact that people will use it as an investment is inevitable.
June 24, 2018, 10:51:36 PM
Bitcoin is seen as digital gold, and I think that view of it actually makes sense. People buy gold because they think its better to hold onto than fiat currency. Bitcoin is the original, but it still takes a few minutes to confirm a transaction.
For crypto to be used as payments widely, something serious is going to have to happen in a specific country or globally, where fiat becomes volatile and unstable. Then a currency like Stellar, which is has a 5 second confirmation time, and extremely small fees, might become widely used for payments.
For crypto to be used as payments widely, something serious is going to have to happen in a specific country or globally, where fiat becomes volatile and unstable. Then a currency like Stellar, which is has a 5 second confirmation time, and extremely small fees, might become widely used for payments.
June 24, 2018, 10:48:29 PM
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.
June 24, 2018, 10:43:41 PM
Really true. The volatility and the price reduction is happening because people dont want to invest in bitcoin. bitcoin no more lures them for a great return and this is why I think its necessary for people to now understand and take btc as a medium of payment. See price of anything at the end increases due to its utility and utlity of btc is in using it as a mainstream method of transactions. So quit taking it as investment and start taking it as your main money.
June 24, 2018, 10:38:43 PM
Let's be honest, bitcoin is not ready for that due to the high cost and slow confirmation,
what high fees and slow confirmation?you are either copy pasting some comment from 7 months ago. or you are just spamming. fees have been minimal for 9 years except for ~3 months last year! and currently they are minimal again and it has been like this for about 6 months now.
Quote
the problem that the community is facing right now is the fee's are just too high comparing to another platform
other "platforms" also suffer from the same problem. you just haven't experienced it because you either haven't been watching (for instance ETH had $5 fees at some point last year) or because those coins are too dead that nobody even uses them. no usage = no transaction on chain = empty blocks = low fee. if their usage increases for any reason their fees will go up also.Quote
and that's why people create altcoin in order to solve this issue.
wrong.the right way to create an altcoin is to solve issues but unfortunately that has never been the purpose so far. the real reason to create an altcoin is to make money. that is why they are pump and dumps.
June 24, 2018, 06:34:50 PM
Let's be honest, bitcoin is not ready for that due to the high cost and slow confirmation, the problem that the community is facing right now is the fee's are just too high comparing to another platform and that's why people create altcoin in order to solve this issue. I might confess that purpose of creating bitcoin so people can send money anytime, anywhere, simply. Anyway i was introduced to bitcoin for the first time as a payment tool and it was helpful.
June 24, 2018, 06:10:10 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)
This is true and all, but aren't we all here profitting from bitcoib as an investment? Let's be real here. We are all aware that bitcoin is being used as a way to earn profits but so far it's the only thing this coin is capable of doing. Sure there are some big establishments that allows the use of bitcoins for transactions but they dissallow shortly after because of how unsta le of a crypto bitcoin is. If someday cryptocurrencies will become stable, then I guess it's time to throw investment in the garbage and use it as a transaction tool but for the meantime, let's support bitcoin for whatever it is. 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)
June 24, 2018, 05:26:19 PM
I agree with you completely. Generally people see bitcoin more as a Cryptocurrency for investment and as such, anytime they need to use bitcoin, the first thing they think of is gain. The time has come for everyone to know that bitcoin use is not limited to investment. Bitcoin can be used for payments.
June 24, 2018, 02:28:48 PM
This is basically true. I think many wanted it that way because they wanted profits. It is quite sad to see it that way too. An it seems it was lie this ever since the doubled value came quickly from $2,300-$2,400 to $5,000 in the year 2017. I observed that many jumped it just to invest more and pump the prices then it went $10,000 and that end up to $19,000 and pretty much just because of pumping it up the many investors cut some of their profits and maybe cashed them out leaving dumped new investors.
Horrifying event.
Any suggestions how to encourage them to use it as payment? Maybe give some good points where you can wisely use them.
Horrifying event.
Any suggestions how to encourage them to use it as payment? Maybe give some good points where you can wisely use them.
June 24, 2018, 02:21:15 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)
It works much better as a unique financial asset class for global investments. Why would I want to spend BTC when I can use a credit card that gives me cashback, consumer protection from fraud, perks like travel insurance, the ability to carry a balance if need be for emergencies, ect ect.
Bitcoin can't compete in that regard at all. But it's great at being a secure investment that historically has been an incredible store of value.
June 24, 2018, 02:14:12 PM
I think it's hard right now to see bitcoin as a payment and started using it at as a payment, this will only happen if the price of bitcoin becomes stable and stops fluctuating, but this will never happen since bitcoin is created as decentralized and the volatility of its price is continuous.
2018 is a brand-new financial year with praiseworthy financial commitment, especially when it comes to investing in alt coins. Cryptocurrency shows an excellent promise for investors with alternatives to Bitcoin providing remarkable rewards to those who risk their money for an opportunity to gain profit.
The alt coins are also replacing bitcoins as payment medium. Now most prefer ETH for this because of less fees.
Jump to: