Topic: Time to stop using Bitcoin as a form of investment and start using it as payment - page 7. (Read 749 times)

I read that shops/stores sell Bitcoin immediately and get cash because of fear of price change.

Bitcoin would be $400 if it is used as payments worldwide.

That can happen to you either when you buy some shoes or when you sell bitcoin, I don't see the difference. Besides, the price can go in one direction or in the other. It doesn't seem a good reason not to use bitcoin as a means of payment. The only one who could lose money is the seller, but for that there are the payment processors that allow users to pay with bitcoin and sellers to receive fiat money in their bank accounts.

I think it can work as a currency at the same time as an investment. Also remember that fiat currency can also be an investment like what i did. I bought us dollars a year ago and now the price of dollar went up when converted to our local currency and I made a profit. The problem here is bitcoin still have only few uses compared to fiat and that is why people are still using it as an investment. Im aware that in some countries bitcoin has already many uses but in majority there are still few. If only big companies or online stores will adopt bitcoin then that can be a start that more people will use it as medium of payment.

I totally agree with you, but I don't think it's that simple. We cant simply dissociate both things, and even though fiat exists for people to use it to buy and sell things, we have forex markets, where people just trade it for profit. So my point is, that we will always have both things in bitcoin, and that is perfectly normal. We do need to increase BTC use case, because right now there are very few people that use it as a currency, but we don't really have a lot of options to do that, so BTC still needs to evolve further first.

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.

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.

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.

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)