The purpose of Bitcoin was created by Satoshi Nakamoto to provide another alternative for conducting financial transactions without the need
to go through Banks. But the government considers Bitcoin a threat that can replace fiat, even though Bitcoin was not created to replace fiat.
So it would be too much if the government to ban Bitcoin, even though Bitcoin helps human life to be better with blockchain technology.
So the question of the opening post is that Bitcoin is not only used for trading, but it can be used according to its original purpose, namely
as payment. Especially now that the number of merchants who accept Bitcoin payments continues to increase, this is a good thing so that
the Bitcoin adoption process can run fast.
Topic: What are the official uses of bitcoin other then trading? - page 2. (Read 850 times)
I heard that BTC wasn't intended to be a trading asset but instead to become a currency and being used to replace the existing paper money, although we all know that this vision isn't how bitcoin really turns out to be but I'm sure the official use of it is to be used as a tool of payment. many people said btc is like digital gold but that's not really what btc was meant to be used for right?
it's little by little stray away from its main purpose although some people still use it but struggling to keep up with the fee, I think it's fine the way it is right now.
That is not really how things work, even if that was true and satoshi never intended for bitcoin to be traded the way it is now we must understand that once an invention escapes the hands of its developers it is up to the people to decide what they're going to do with it, the reality is that bitcoin is a fantastic coin to be traded, the fees are small compared to what you need to pay in the stock market, it is a market that is always open and the volatility of the market is great for traders and investors alike.it's little by little stray away from its main purpose although some people still use it but struggling to keep up with the fee, I think it's fine the way it is right now.
Just like the rest of the inventions that were used to something else instead. Satoshi meant it to be a digital currency but then like the nature of the currency, it could be traded like they do in Foreign Exchange. Just as how we use it to gamble these days, Casinos in crypto don't ask for KYC so its good for gambling.
Many of investors today are using BTC as a store of value, its where their wealth are and protected at least from inflation.
Bitcoin is increasingly moving away from its original purpose and playing a different role.
Until now Bitcoin is seen as the gold of the crypto market, people use bitcoin to make a profit instead of using it as a currency.
Bitcoin is playing a role as an investment until now besides making money from trading. Even though people can use bitcoin for payment, people prefer to save their bitcoin from selling at a high price. If people have a large amount of bitcoin, it will not be a problem to use bitcoin for the payment. Maybe we need to follow the bitcoin journey to know the real use of bitcoin because that will be related to each country's government.Until now Bitcoin is seen as the gold of the crypto market, people use bitcoin to make a profit instead of using it as a currency.
Besides, the fees are too high and the speed is slow, making Bitcoin unsuitable for small transactions.
Other than trading, people labeled Bitcoin as an Investment. It is a form of digital money that could basically be used in anything that we see fit in the digital world. Its versatility can really save any people who studies and earns from it since trading Cryptocurrencies can be a really hard job but the profit that can be gained is much better than having a day job BUT this would only work if you are really decided to earn within this Industry.
We can now also see that Tesla and other platforms integrating Bitcoin within their system to be used as another form of payment so basically imo, Bitcoin could work as either an investment or as another option in transactions.
We can now also see that Tesla and other platforms integrating Bitcoin within their system to be used as another form of payment so basically imo, Bitcoin could work as either an investment or as another option in transactions.
In other words, bitcoin has a lot of uses now.
As more merchants are integrating the btc payment, people have now wider options to use this as a payment method.
However, a lot still prefer to store their coins or accumulate as much as they can, for the hope that one day, they will gain massive profit.
Either way, bitcoin is not only for trading purposes but it evolves to a lot more, greatly influencing the payment sector today.
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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.
Other than trading, people labeled Bitcoin as an Investment. It is a form of digital money that could basically be used in anything that we see fit in the digital world. Its versatility can really save any people who studies and earns from it since trading Cryptocurrencies can be a really hard job but the profit that can be gained is much better than having a day job BUT this would only work if you are really decided to earn within this Industry.
We can now also see that Tesla and other platforms integrating Bitcoin within their system to be used as another form of payment so basically imo, Bitcoin could work as either an investment or as another option in transactions.
We can now also see that Tesla and other platforms integrating Bitcoin within their system to be used as another form of payment so basically imo, Bitcoin could work as either an investment or as another option in transactions.
besides trading, the benefit of bitcoin is to be used as a payment currency, where now many e-commerce sites accept payments other than money. this is very easy and a new innovation for bitcoin in the future apart from trading
I heard that BTC wasn't intended to be a trading asset but instead to become a currency and being used to replace the existing paper money, although we all know that this vision isn't how bitcoin really turns out to be but I'm sure the official use of it is to be used as a tool of payment. many people said btc is like digital gold but that's not really what btc was meant to be used for right?
it's little by little stray away from its main purpose although some people still use it but struggling to keep up with the fee, I think it's fine the way it is right now.
That is not really how things work, even if that was true and satoshi never intended for bitcoin to be traded the way it is now we must understand that once an invention escapes the hands of its developers it is up to the people to decide what they're going to do with it, the reality is that bitcoin is a fantastic coin to be traded, the fees are small compared to what you need to pay in the stock market, it is a market that is always open and the volatility of the market is great for traders and investors alike.it's little by little stray away from its main purpose although some people still use it but struggling to keep up with the fee, I think it's fine the way it is right now.
Just like the rest of the inventions that were used to something else instead. Satoshi meant it to be a digital currency but then like the nature of the currency, it could be traded like they do in Foreign Exchange. Just as how we use it to gamble these days, Casinos in crypto don't ask for KYC so its good for gambling.
Many of investors today are using BTC as a store of value, its where their wealth are and protected at least from inflation.
I heard that BTC wasn't intended to be a trading asset but instead to become a currency and being used to replace the existing paper money, although we all know that this vision isn't how bitcoin really turns out to be but I'm sure the official use of it is to be used as a tool of payment. many people said btc is like digital gold but that's not really what btc was meant to be used for right?
it's little by little stray away from its main purpose although some people still use it but struggling to keep up with the fee, I think it's fine the way it is right now.
That is not really how things work, even if that was true and satoshi never intended for bitcoin to be traded the way it is now we must understand that once an invention escapes the hands of its developers it is up to the people to decide what they're going to do with it, the reality is that bitcoin is a fantastic coin to be traded, the fees are small compared to what you need to pay in the stock market, it is a market that is always open and the volatility of the market is great for traders and investors alike. it's little by little stray away from its main purpose although some people still use it but struggling to keep up with the fee, I think it's fine the way it is right now.
Of course, in addition to its investment value, Bitcoin is seen as a currency, and its characteristics are decentralized and anonymous.
There are many companies that accept bitcoin for payments like Amazon and Tesla, so people can't deny that Bitcoin is still a currency.
There are many companies that accept bitcoin for payments like Amazon and Tesla, so people can't deny that Bitcoin is still a currency.
its nature is like a currency, but legalization of Bitcoin is still not acceptable in most countries so that Bitcoin is still trusted by many users to be used as an investment asset and even used as digital currency trading that can provide benefits. although the main purpose of bitcoin was created not as an investment asset but because its value is valuable so that many people are competing to invest in it in order to benefit from it.
Until now Bitcoin is seen as the gold of the crypto market, people use bitcoin to make a profit instead of using it as a currency.
Bitcoin was created with the aim of being a currency and still serves as a currency.
However, Bitcoin has a huge price change in the short term, so people see BTC as a place for profitable investment. Perhaps in the future bitcoin will act more as a currency for speculation than as a currency for trading.
However, Bitcoin has a huge price change in the short term, so people see BTC as a place for profitable investment. Perhaps in the future bitcoin will act more as a currency for speculation than as a currency for trading.
Some people even think that Bitcoin can be more stable in the future and the risk can go down to very low levels. Then they think it can be used as a currency also. But there is no way for the volatility fading away as it's Bitcoin's nature. So I think Bitcoin will not be the currency of any country in the future.
Bitcoin is like a gold, it can be a store of value, a safe haven to secure you financially in the near future.
It is a modern gold where its price increases in the market, its price is volatile and can't be manipulated easily by other people.
People chose to trade bitcoin because they want to make money with it as soon as possible depending on the market situation.
But some are just holding it because they are 100% loyal and believing on its potential to make reasonable increase in its price in the long run.
- Well, if the price of bitcoin can fall slowly or slowly rise then move in a small range, I can consider it as gold, becoming a store of value but unfortunately, our hearts will not be secure with bitcoin's pulse, instead of being slow and not moving like gold, bitcoin is just trying to speed up and decelerate very quickly to create surprises, storing value with bitcoin is relatively intimidating and risky for this reason. The most optimistic thing is still buying and selling then exchanging for altcoins to get more bitcoinIt is a modern gold where its price increases in the market, its price is volatile and can't be manipulated easily by other people.
People chose to trade bitcoin because they want to make money with it as soon as possible depending on the market situation.
But some are just holding it because they are 100% loyal and believing on its potential to make reasonable increase in its price in the long run.
if they do saw that it something that has some similarities but honestly they are just totally different.There are even people whom do talk about bitcoin replacing gold?Are they serious?
They dont know on what their talking about.They do better just study out some economics or financial subjects for them at least to have some idea on what are the words that theyve been saying.
When it comes to official uses of bitcoin then its clearly on what stated by its creator itself that this is a payment system P2p without any intermediaries.
Will it only be used for investing/speculation as long as its price is this unstable?
Of course not. As you may know, Bitcoin is not only used for investment etc. . You can also use it to buy things in different places which support Bitcoin payment method. And you can even buy a car now as Tesla made an announcement about it some time ago.
Bitcoin is like a gold, it can be a store of value, a safe haven to secure you financially in the near future.
It is a modern gold where its price increases in the market, its price is volatile and can't be manipulated easily by other people.
People chose to trade bitcoin because they want to make money with it as soon as possible depending on the market situation.
But some are just holding it because they are 100% loyal and believing on its potential to make reasonable increase in its price in the long run.
- Well, if the price of bitcoin can fall slowly or slowly rise then move in a small range, I can consider it as gold, becoming a store of value but unfortunately, our hearts will not be secure with bitcoin's pulse, instead of being slow and not moving like gold, bitcoin is just trying to speed up and decelerate very quickly to create surprises, storing value with bitcoin is relatively intimidating and risky for this reason. The most optimistic thing is still buying and selling then exchanging for altcoins to get more bitcoin It is a modern gold where its price increases in the market, its price is volatile and can't be manipulated easily by other people.
People chose to trade bitcoin because they want to make money with it as soon as possible depending on the market situation.
But some are just holding it because they are 100% loyal and believing on its potential to make reasonable increase in its price in the long run.
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.
Today bitcoin demand and supply chain higher than other cryptocurrencies, and the main uses of bitcoin is people are more invested in bitcoin than other cryptocurrencies because bitcoin prices daily high, and now many big companies are invested in bitcoin like Tesla, Amazon...
Of course, in addition to its investment value, Bitcoin is seen as a currency, and its characteristics are decentralized and anonymous.
There are many companies that accept bitcoin for payments like Amazon and Tesla, so people can't deny that Bitcoin is still a currency.
There are many companies that accept bitcoin for payments like Amazon and Tesla, so people can't deny that Bitcoin is still a currency.
its nature is like a currency, but legalization of Bitcoin is still not acceptable in most countries so that Bitcoin is still trusted by many users to be used as an investment asset and even used as digital currency trading that can provide benefits. although the main purpose of bitcoin was created not as an investment asset but because its value is valuable so that many people are competing to invest in it in order to benefit from it.
Of course, you can use BTC not only for trading but also for purchases in Amazon and eBay, for tuition fees at some universities, un Pay Pal and even for buying plane tickets. But we think that the main purpose of BTC is a long term investment.
A lot of people considered bitcoin only for trading and investment purposes, these are the basic introduction that beginners can find upon searching about bitcoin but that is not all about bitcoin, it is also good for online payment, as some other companies are accepting it as a means of payment including the amazon and the Tesla.
I would say that the official use of bitcoin besides trading is a form of currency to buy services and products which is slowly being appreciated with Tesla announcing that you can buy a car from them with bitcoin which is going to be getting some attention from other companies and with VISA getting in the cryptocurrency scene, I think that bitcoin being a mode of currency is the biggest use of bitcoin.
It is a crypto currency so we could use it as one just like Fiat,
The only problem with crypto currency is that we only have small merchant or only few accept it as a payment option,
And most of us don't see it as a currency but an investment tool that is stopping it on being used as one.
The only problem with crypto currency is that we only have small merchant or only few accept it as a payment option,
And most of us don't see it as a currency but an investment tool that is stopping it on being used as one.
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