Very strange most people like to buy with bitcoin , but using altcoins very few - page 6.

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Quote from: spy100 on June 17, 2020, 03:05:30 PM

Very strange thing i noticed: most people like to buy with bitcoin , but using altcoins very few

I think all clients i had from bitcointalk prefer to use bitcoin to buy services / products they needed ...

Not a single client that i had until now used altcoins like ethereum ,litecoin etc or tokens like usdt,usdc ....

Why do you think people don't like to use altcoins to buy things on the internet ?

It is not rare at all if you think about it, despite the huge market caps and trading volumes that you can see in websites like CMC for the top 20 coins the truth is that when it comes to actual usage of the coins to buy products and services the majority of that volume is composed by bitcoin, the first mover advantage of bitcoin is huge and even if many merchants like yourself accept different coins to receive their payments most people use bitcoin to pay for those services, which is why I have always thought of the top altcoins as good investment opportunities but nothing more.

bits4books

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Isn't it obvious? BTC was the first cryptocurrency and took the first place as a means of payment and this is not surprising. It should take a long time (not so much as with gold but still) before other tokens will start to be massively used as a means of payment. Just a consequence of first invention, brand and habits that are projected on the general use cases

fabiorem

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Its simple: people like slow and clunky stuff. They love to wait one hour for a single confirmation, even after paying the maximum fee.

The slower and clunky, the better. Hodl for 30 years.

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Quote from: spy100 on June 17, 2020, 03:05:30 PM

Very strange thing i noticed: most people like to buy with bitcoin , but using altcoins very few

Well i think it just happen that your clients wanted Bitcoin but it doesnt mean that so few is using altcoins because those are being popular and used by many now.

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I think all clients i had from bitcointalk prefer to use bitcoin to buy services / products they needed ...

Try to extend your offers and maybe will find clients that supports more Altcoins than Bitcoins.

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Not a single client that i had until now used altcoins like ethereum ,litecoin etc or tokens like usdt,usdc ....

Then Your clients are Few and not Altcoin users?

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Why do you think people don't like to use altcoins to buy things on the internet ?

Because Bitcoin is more stable and safer to use because some altcoins makes roller coaster prices and that is not safe for business that runs daily.

CryptopreneurBrainboss

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Not all altcoins are cryptocurrency as some are utility tokens (when they operate on other blockchain) or utility coin (when they operate on their own native blockchain) and a perfect example is ethereum and Binance coin. So when you ask why people don't used alts compare to bitcoin, you should also understand that when you use utility tokens as currency you're using them wrongly. Ether wasn't meant to serve a currreny like bitcoin.

Irrespective of them been cheaper in regards to miners fees and probably more faster via transaction confirmation speed, you don't expect them to be used for something they weren't created for. The trust and popularity is also another factor you should put into consideration as bitcoin is the most trust/popular cryptocurrency of them all and all enthusiast both buyer and seller would prefer using the most trusted of any technology.

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I think this is perfectly normal. Bitcoin is more used by people in buying and selling because it is popular and familiar to everyone, there are many places, shops have accepted payment in Bitcoin. It can be said to be the largest single currency in the cryptocurrency world. Not many coins can reach as high value as Bitcoin. Many other altcoins are also growing like ETH, XRP, USDT but I think people like to use them in trading.

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Quote from: spy100 on June 17, 2020, 03:05:30 PM

Why do you think people don't like to use altcoins to buy things on the internet ?

There are various (reasons) that underlie, why many people use Bitcoin as a transaction rather than Altcoin.

Insider response to seeing Bitcoin for payment instruments increased compared to Altcoin, some of them using Bitcoin rate and were considered safe, many people give reasons that transactions using Bitcoin are fast and cheap, for that Bitcoin is also guaranteed privacy and also has a decentralized nature.
This is a common factor where most people tend to believe more in using Bitcoin than Altcoin, in other ways Bitcoin can also be said to be an asset of higher value than altcoin, don't be surprised if most of your clients use Bitcoin as the main capital in making transactions.

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Bitcoin is a brend. Everyone knows it and everyone understands too little about other crypto

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Altcoins are not entirely safe , one should understand that even know we might have 1000's of them listed on the internet , what we do know is , only some of them are credible enough to be used for buying/selling/investment. I often tell newbies to be aware of the altcoins , one should always check the spam boards before trying to invest in one , let alone buy stuff with it .
At the same time some altcoins are even better than Bitcoins when it comes to programming and fee , therefore with a good judgement I do think one can find the right one .
Most of the sites does not even let payments being done in Altcoins and therefore it's harder for people to find payment options in Altcoins of their choice. They might now be that popular right now or maybe not that safe as deemed by that particular site.

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Quote from: spy100 on June 17, 2020, 03:05:30 PM

Very strange thing i noticed: most people like to buy with bitcoin , but using altcoins very few

I think that there is no strange, it is so normal as I think. People will prefer to Bitcoin than altcoins. this is normal and very true to have. If you are asked by someone, which one do you prefer? BTC or altcoin? For me personally, I will directly answer Bitcoin for sure Grin

Quote from: spy100 on June 17, 2020, 03:05:30 PM

Why do you think people don't like to use altcoins to buy things on the internet ?

Well, it is because of the value, trust, and also worth for the future.
Everyone knows that Bitcoin has those terms more than altcoins. Only some altcoins that can make it as BTC does, that is some for Ethereum or Litecoin. Actually there are some parties that accept ETH and LTC as payment methods. But, it is not as many as BTC can do. Once more, highest value will prove it.

However, what makes the transaction with BTC is actually quite hard to do is about the fee to spend. It is higher than what altcoins can do. Moreover, sometimes, the transaction may spend a longer time than ETH and other altcoins probably do. This can be negative sides of the BTC. However, aside from that, BTC still offers the best.

PavelMed

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First of all, not all sellers accept altcoins. Many are calculated only with bitcoin. Although this is stupid.
For the second reason, I would attribute the habit of conducting operations and making financial calculations in bitcoin.

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Quote from: The Sceptical Chymist on June 18, 2020, 06:01:51 PM

Judging from what members write, I'd say bitcoin serves a function mainly as an investment and not a form of money, though there are certainly people who enjoy spending bitcoin (that always baffled me, though).

This is partly due to the fact that we're in a state of early adoption and transition. We don't live in an economy where employees get paid in BTC and vendors/suppliers get paid in BTC, etc. It's too early and speculative for that, at least at scale. Things would (maybe will) look a lot different in that kind of environment.

I love spending BTC (at the right price, mind you) because the income I get from trading crypto and my signature campaign is paid in BTC. Thus I am very comfortable with both the "investment asset" and "currency" paradigms and I use BTC accordingly.

That is not the case for most people. Most people have to spend money just to buy BTC. You know, bank wire fees, trading fees, and things like that. Why would they want to spend it? They could spend with their credit card instead and even get a couple % cash back.

These types of people will enjoy spending their BTC once it has significantly appreciated in price. Everybody likes to take profit at some point and enjoy life, or at least they certainly should.

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Quote from: spy100 on June 17, 2020, 03:05:30 PM

I think all clients i had from bitcointalk prefer to use bitcoin to buy services / products they needed ...

From my years of reading posts on this forum, I'd say people's preference for a currency when they're buying something isn't bitcoin or any other crypto--it's fiat. Judging from what members write, I'd say bitcoin serves a function mainly as an investment and not a form of money, though there are certainly people who enjoy spending bitcoin (that always baffled me, though).

And yeah, using altcoins to actually purchase goods/services is practically unheard of, and I doubt that's going to change anytime soon. Merchants don't want to bother fooling around with some weird internet money that most people won't even use, so if businesses aren't accepting altcoins and people aren't looking to spend them for things....no surprise you're not going to find diddly-squat when it comes to places that accept ETH, Dash, or any of the other big-name altcoins.

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Quote from: jossiel on June 18, 2020, 12:53:52 PM

Not a surprise but bitcoin has the most share in cryptocurrencies so that's why your clients prefer to have it. Maybe you haven't seen the client that you'll deal with preferring to pay with altcoins.

65% is the dominance for bitcoin and that's not new if most clients like to take it with bitcoin. You'll get to be surprised if somebody asks you to deal with uncommon altcoins, those altcoins that you haven't mentioned and new to you.

Bitcoin is the first cryptocurrency that has build trust and support from its users and investors so it is not surprising that most of the clients are eager to have bitcoin rather than those few altcoins that have less importance than bitcoin. Altcoins may be useful in their own ways but bitcoin will always take the lead as most of the establishments today prefer to accept bitcoin as a payment rather than altcoins.

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As far as I know, people who transact with you maybe not crypto holders, this includes bitcoin and altcoins and the reason they use and choose bitcoin because this is the main coin in the crypto market so they will easily buy it and then use it to transact with short time and they are not long term holders. But for me personally using bitcoin and altcoin is not a problem because both of them I have done and even, at that time I found there is an adult site from one of the countries in Asia accepting payments using ethereum, so it all depends on each individual himself because when they are more choosing bitcoin, I guess that doesn't mean altcoins aren't interested because it's very possible that there are better reasons to use bitcoin.

jossiel

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Not a surprise but bitcoin has the most share in cryptocurrencies so that's why your clients prefer to have it. Maybe you haven't seen the client that you'll deal with preferring to pay with altcoins.

65% is the dominance for bitcoin and that's not new if most clients like to take it with bitcoin. You'll get to be surprised if somebody asks you to deal with uncommon altcoins, those altcoins that you haven't mentioned and new to you.

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Well, bitcoin is more common and bitcoin is the number one coin in rankings and bitcoin has a lot more users and bitcoin is accepted in more places and bitcoin has infrastructure to be used very easily and.... do I need to continue? Because I can but I think we got the idea.

Bitcoin has a lot more reasons to be used, that doesn't mean other ones are bad, it just means that other ones are not as evolved as bitcoin right now. Believe me in five to ten years time all other coins will have their payment situation handled and used in many places as well but it will just require a couple of years until we could build something like that. Obviously it will take time but it will also take money and investments to build those companies who will make it easier as well.

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Quote from: maxreish on June 18, 2020, 04:11:27 AM

With thousands of altcoins available in the market, only few is worth to buy and to invest. Thus making them hard to choose which of them is the right coin to be hold. Bitcoin is the first choice of most of the crypto investors. It has a good reputation and has a good returns with established image. If a newbie were to ask about crypto coins, majority of them will only tell bitcoin. Because when it comes to the popularity, bitcoin is leading compare with altcoins.

The reason you will see hundreds of the coins exists in the market because all of them want to make the short-term money and consider it as the good opportunity. That is why if you see many coins does not even exists in the exchanges for the long time because those are just the pump and dump coins and once the owner makes some profits than those coins are dumped in the market.

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Quote from: fullhdpixel on June 17, 2020, 05:42:26 PM

Bitcoin is widely accepted and that's what everybody wants to use. Just like you, all the people I have worked with only want to make payment with Bitcoin. I'm still looking for ways to test out other cryptocurrencies like Ethereum and see how they work, but nobody needs them.

Compared to other altcoins, bitcoin is really the most used in many transactions and exchange. The volume of people in the market who access with bitcoin is extremely high that's why day by day, bitcoin becomes more popular than other coins. But altcoins like ETH, DEX, and XRP can also give you reasonable profit although it is not that high enough like bitcoin. I also knew a lot of people who are using bitcoin in many transactions or when they pay their bills, because they find it less hassle and more faster than other payment method. Organize your coins especially if you're a multi coin user, always focus on the growth of your bitcoin that altcoin.

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Quote from: spy100 on June 17, 2020, 03:05:30 PM

Very strange thing i noticed: most people like to buy with bitcoin , but using altcoins very few

Oh really?
Pretty weird, I wonder why most people are buying Nike and not Naikai.
Why most people use banks like Deutsche Bank and Ing and not Homer Simpsons Trusted bank.
Wonder why people are using USD and not the powerful zimbabwe dollar.

Seriously? You're wondering why people are not using altcoins?
Because 99% of altcoins users are hoarders that think they will replicate with their coins the gains early bitcoiners had with BTC
The only time people use altcoins is when BTC fees pike but usually, that happens during growth when nobody is spending their coins and rather cashing out.

Quote from: rodskee on June 18, 2020, 04:31:05 AM

Time will come for alts to serves its purposes just like bitcoin, adoptions for every real project will be there it's just taking
some time, slowly but progressive.

Alts have no purposes, they are alternatives!
Everything that alts do BTC can replicate with a hard fork.

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