Topic: What are the official uses of bitcoin other then trading? (Read 828 times)
Aside from using bitcoin for trading, many people used bitcoin for their daily expenses, example are payment for their utilities bills, groceries etc. It is much safer to used it than to pay coins and money bills so you can avoid to acquire virus from it. It is easy to used by sending bitcoin to their btc address or scan the QR code.
indeed many people think that bitcoin is only an investment instrument because of its fluctuating price, but on the other hand they don't realize that lately bitcoin is also often used as a transaction tool and payment method.
so in my opinion bitcoin can be used for anything depending on the needs of each of us.
Bitcoin can be used for all kinds of transactions at several merchants that accept bitcoin payments and can make P2P transactions without the need for a third party. There are several companies that have started accepting payments with bitcoin including Tesla which has recently become a trending topic.so in my opinion bitcoin can be used for anything depending on the needs of each of us.
The use of bitcoin as a means of payment also depends on the regulations in each country, because the regulations will be different. There are those who allow and many do not allow bitcoin to be used as a legal means of payment.
indeed many people think that bitcoin is only an investment instrument because of its fluctuating price, but on the other hand they don't realize that lately bitcoin is also often used as a transaction tool and payment method.
so in my opinion bitcoin can be used for anything depending on the needs of each of us.
so in my opinion bitcoin can be used for anything depending on the needs of each of us.
These days, bitcoin is being used as an investment or people trade their bitcoin wherein they make real money out of it. Other than being used as a profit making currency, bitcoin can also be used as a mode of payment for some instance and it is usually done between two people who owns bitcoin at the same time. Sooner or later, we will surely witness bitcoin being used as a mode of payment for most of the products we buy if ever it gets legalized globally. Still, we are too far from seeing that happening so it would be best to pile up bitcoins in your wallet as much as possible so that you can make sure that your future will be secured.
at this time bitcoin holders get more profit when trading bitcoin. Apart from trading, bitcoin can also be used as a means of payment, but at this time not all markets or stores accept bitcoin as a means of payment. I see the development of bitcoin every month, I am sure that someday Bitcoin will be accepted as a legal tender in all markets or stores.
I'm sure the number one thing bit coin is used for is trading but that wasn't its original use and seeing how it still has value and exists a decade later it has utility. Officially what else is it used for? How could you find this out there isnt a wall street journal for bitcoin. But there must be a prospectus for it out there or as close to one as possible. Is there a way to read the original white paper?
I thought BTC was going to replace western union by now and be used by official brick and motor businesses. I guess thats the point of stable coins, Why doesnt BTC have a stable coin backed up by BTC; kind of like how they back up mortgages. I wish I could remember my series seven better I could think up more use cases for BTC.
Trading is not the number thing bitcoin was created for, Satoshi already started in the Whitepaper that bitcoin is a decentralized digital peer to peer currency and its still serving that purpose till date, it's no one's fault that bitcoin started becoming an investment tool over time, since this is a decentralized space, anyone can do what they like with their bitcoin, theres no official use case for bitcoin, it's your coins you can do whatever you want with it, no one is stopping you.I thought BTC was going to replace western union by now and be used by official brick and motor businesses. I guess thats the point of stable coins, Why doesnt BTC have a stable coin backed up by BTC; kind of like how they back up mortgages. I wish I could remember my series seven better I could think up more use cases for BTC.
I'm sure the number one thing bit coin is used for is trading but that wasn't its original use and seeing how it still has value and exists a decade later it has utility. Officially what else is it used for? How could you find this out there isnt a wall street journal for bitcoin. But there must be a prospectus for it out there or as close to one as possible. Is there a way to read the original white paper?
BTC is a digital currency that uses peer-to-peer technology in making transactions such as payments. Well, it was like a cashless system wherein payments are done digitally without 3rd party during the transactions. The reason why most people think when we talk about BTC is trading since most people are involved here and articles related to BTC always talk about its market price and movement. So it's only natural to feel that way but BTC was originally created for a digital payment system. Don't forget that.
In addition to trading bitcoin, it can also be used as a tool for transactions. In fact, in other countries, botcoins can be used as a medium of exchange for fiat.
the use of bitcoin is not for investment, but now it is being developed for real payments. for example Tesla accepts payments using bitcoin, this is one of the real uses of bitcoin that the public accepts. it's just that only a few countries still accept it, not all countries accept bitcoin payments.
That's the beauty of having institutional investors as they are adopting also the system and use it from their service.
Now it's no longer for investment but for real use as well.
We do expect more big names, Tesla and Paypal then there are many more businesses to embrace this system and
use it for their service.
I'm sure the number one thing bit coin is used for is trading but that wasn't its original use and seeing how it still has value and exists a decade later it has utility. Officially what else is it used for? How could you find this out there isnt a wall street journal for bitcoin. But there must be a prospectus for it out there or as close to one as possible. Is there a way to read the original white paper?
I thought BTC was going to replace western union by now and be used by official brick and motor businesses. I guess thats the point of stable coins, Why doesnt BTC have a stable coin backed up by BTC; kind of like how they back up mortgages. I wish I could remember my series seven better I could think up more use cases for BTC.
Will it only be used for investing/speculation as long as its price is this unstable? Can you imagine a normal acting like bitcoin does? I guess pink papers/penny stocks do that but those are just legal pump and dumps that clog up your work fax with junk faxes that come through at 4:00AM making sure you will se it.
I thought BTC was going to replace western union by now and be used by official brick and motor businesses. I guess thats the point of stable coins, Why doesnt BTC have a stable coin backed up by BTC; kind of like how they back up mortgages. I wish I could remember my series seven better I could think up more use cases for BTC.
Will it only be used for investing/speculation as long as its price is this unstable? Can you imagine a normal acting like bitcoin does? I guess pink papers/penny stocks do that but those are just legal pump and dumps that clog up your work fax with junk faxes that come through at 4:00AM making sure you will se it.
I think not an official use of bitcoin.
It depends on the country and people.
People are what did thinking about bitcoin and how to invest in bitcoin it depends on himself.
Time has changed and Bitcoin users evolve and find something that makes it profitable aside from being just a new form of currency. Though some people are still using Bitcoin as a payment method, some as livelihood, long term investment and anything else that can be possible with Bitcoin.
The OP actually doesn't have to bother to find out many thing that can be done with bitcoin. We have never even been restricted from using bitcoin on the many thing that are supported by its users. For those who do not really believe in the banking system, bitcoin has been the right choice for them. I don't even need to queue in bank room just to send money to someone who want to accept bitcoin as a mean of payment and I can also do it when all the bank employees are resting. If you want financial freedom, bicoin is the choice because it is completely decentralized. I'm sure the number one thing bit coin is used for is trading but that wasn't its original use and seeing how it still has value and exists a decade later it has utility. Officially what else is it used for? How could you find this out there isnt a wall street journal for bitcoin. But there must be a prospectus for it out there or as close to one as possible. Is there a way to read the original white paper?
I thought BTC was going to replace western union by now and be used by official brick and motor businesses. I guess thats the point of stable coins, Why doesnt BTC have a stable coin backed up by BTC; kind of like how they back up mortgages. I wish I could remember my series seven better I could think up more use cases for BTC.
Will it only be used for investing/speculation as long as its price is this unstable? Can you imagine a normal acting like bitcoin does? I guess pink papers/penny stocks do that but those are just legal pump and dumps that clog up your work fax with junk faxes that come through at 4:00AM making sure you will se it.
Time has changed and Bitcoin users evolve and find something that makes it profitable aside from being just a new form of currency. Though some people are still using Bitcoin as a payment method, some as livelihood, long term investment and anything else that can be possible with Bitcoin. I thought BTC was going to replace western union by now and be used by official brick and motor businesses. I guess thats the point of stable coins, Why doesnt BTC have a stable coin backed up by BTC; kind of like how they back up mortgages. I wish I could remember my series seven better I could think up more use cases for BTC.
Will it only be used for investing/speculation as long as its price is this unstable? Can you imagine a normal acting like bitcoin does? I guess pink papers/penny stocks do that but those are just legal pump and dumps that clog up your work fax with junk faxes that come through at 4:00AM making sure you will se it.
Bitcoin becomes scarce between miners and owners. To put it simply, speculative bases dominate today and who will credit the bitcoin mining process? to be sure, such entrenched interests will cause conflict.
And yes, you have the full range of ways to use bitcoins, not necessarily speculating under any circumstances you want to do with them. Shop, gift, give ... it's free to use, it's just how you will use it!
And yes, you have the full range of ways to use bitcoins, not necessarily speculating under any circumstances you want to do with them. Shop, gift, give ... it's free to use, it's just how you will use it!
the use of bitcoin is not for investment, but now it is being developed for real payments. for example Tesla accepts payments using bitcoin, this is one of the real uses of bitcoin that the public accepts. it's just that only a few countries still accept it, not all countries accept bitcoin payments.
That's the beauty of having institutional investors as they are adopting also the system and use it from their service.
Now it's no longer for investment but for real use as well.
We do expect more big names, Tesla and Paypal then there are many more businesses to embrace this system and
use it for their service.
the use of bitcoin is not for investment, but now it is being developed for real payments. for example Tesla accepts payments using bitcoin, this is one of the real uses of bitcoin that the public accepts. it's just that only a few countries still accept it, not all countries accept bitcoin payments.
Quote
Will it only be used for investing/speculation as long as its price is this unstable?
IMO, Bitcoin's primary use is for trading (buying and selling). It's a currency and not stock, even if it's now showing attributes like stock, it is different as it can be used for payment in different online and offline store...and even to buy a tesla car. And even with its unstability, people still use it to buy and sell. This whole speculation thing came along the way. I believe.Well, to me, even though it serves as a speculative asset, I believe that it's core purpose for creation is for transacting. In fact, I think we should honour the pizza day every year (in respect to achievement it has brought us).
I don't think that the number one use of bitcoin is trading, investing is much popular than trading because most of beginners don't even try to trade because that is much riskier than investing a bitcoin, there are other uses of bitcoin aside from investing and trading. We may also use bitcoin for online transactions, online payment, and money transfers. I am also using bitcoin to send money to my relatives, this is only applicable if the one who is going to receive bitcoin knows about it. There are a lot of good things that we may have in bitcoin and the best thing that bitcoin can give to us is income.
One of them is an option to be your salary like the other day I read about it wherein some of the company in the UK if I'm not mistaken, they give you an option to choose whether you want your salary to be full cash or to be BTC. that's one thing I can add to your list and I'm sure there are lots more options out there. Also in our country, you can use it now to buy some goods in the 2 main online stores and they will also accept it from you with the help of our local exchange of course.
Quote
Will it only be used for investing/speculation as long as its price is this unstable?
IMO, Bitcoin's primary use is for trading (buying and selling). It's a currency and not stock, even if it's now showing attributes like stock, it is different as it can be used for payment in different online and offline store...and even to buy a tesla car. And even with its unstability, people still use it to buy and sell. This whole speculation thing came along the way. I believe.Well, to me, even though it serves as a speculative asset, I believe that it's core purpose for creation is for transacting. In fact, I think we should honour the pizza day every year (in respect to achievement it has brought us).
Quote
Will it only be used for investing/speculation as long as its price is this unstable?
IMO, Bitcoin's primary use is for trading (buying and selling). It's a currency and not stock, even if it's now showing attributes like stock, it is different as it can be used for payment in different online and offline store...and even to buy a tesla car. And even with its unstability, people still use it to buy and sell. This whole speculation thing came along the way. I believe.Jump to: