Topic: What to make bitcoin a popular payment method? - page 2. (Read 2787 times)
Bitcoin will become popular among community members and developers. As you mentioned above and other things we can do is make bitcoin become more popular through social media. He just needs to be more stable. I think bitcoin is not ready to become a popular payment method. What you mentioned, I think bitcoin does not have these three factors, so bitcoin is a too volatile digital currency, slow trading system, fees and other things can not perform method Popular payment.He just a little time to perfect. And then it will really become an official currency of the world scale.
For something that can become a popular means of payment, you need the following:
Store of value: allowing individuals to make intemporal choices on when to spend their purchasing power
I do not think that for bitcoin to become a popular and efficient payment method it needs to be a good store of value, as OP affirms. In fact, in these moments in which the price has found some stability bitcoin is functioning quite competitively as a payment processor, although as is well known still have to make great efforts to make it competitive in situations of maximum demand as the observed at the end of last year, when transactions were very expensive and slow.
And that's why the issue of scalability seems even more important to me than the issue of making bitcoin a reliable store of value.
Bitcoin is a considerable currency and fitting to become a top payment method, but for now the government still delay to used it because of the anonymity, the local shop still pause because of the fluctuative price, and some of us still hesitate because the speed and the transaction fee, there are still many things that need to be solved before bitcoin could become payment currency, but with further development and support I believe one day it could become the number one payment procedure
what to make bitcoin a popular payment method?As I know bitcoin is already very popular and the most expensive coin of crypto society.Also the companies and the people who launch new tokens in the market they also accept btc for their tokensale,And though it has fall down in market but has the ability to turn back again and reach the goal and also bitcoin is so popular in public even who didnt know about crypto currency.so i will say bitcoin is already very popular for youth and elders of crypto world.
For something that can become a popular means of payment, you need the following:
Store of value: allowing individuals to make intemporal choices on when to spend their purchasing power
Medium of exchange: facilitating the exchange of goods and services by eliminating the inefficiencies associated with a barter economy
Unit of account: acting as a measure of value in the economic system.
Do you think the bitcoin has all three of these elements? I am looking forward to the bitcoin will become a popular payment method in the future.
First of all, we need to create more awareness about bitcoin to the peoples around us. If they don't know about bitcoin, how they can use it ?
And we need to accept bitcoin as a payment when peoples want to buy something from us, there will be more peoples come into bitcoin.
The 3 characteristics that you mentioned may apply to bitcoin but the main thing to mention is if it is acknowledged by the government. I think the bitcoin route should change first because it is known as a good investment property in the world, which has created a huge number of millionaires in recent years, a significant amount compared to Other investment options. Bitcoin will become popular due to its stable value and community members and developers
For something that can become a popular means of payment, you need the following:
Store of value: allowing individuals to make intemporal choices on when to spend their purchasing power
Medium of exchange: facilitating the exchange of goods and services by eliminating the inefficiencies associated with a barter economy
Unit of account: acting as a measure of value in the economic system.
Do you think the bitcoin has all three of these elements? I am looking forward to the bitcoin will become a popular payment method in the future.
Now bitcoin does not take on special importance in life, those people who do not do it, in due course bitcoin will take its place in the economic system.
Bitcoin creates decentralization. This is not widely known in society. The social rules are known to regulate behavior without official legislation. Rules of principle allow people to act without affecting others.
For long-term stability, Bitcoin does not need to be a storage currency worth more than US dollars. It can continue to grow thanks to the support of other currencies. Bitcoins are more prevalent in heavily oppressed nations and are helping poor migrants send money home to their loved ones.
As Bitcoin grows, it can become more competitive than other currencies because the strongest currency is also subject to political risk.
Global and national crises will continue to directly support Bitcoin. Euro currency volatility, brexit and increased debt to gross domestic product in Western countries undermine the value of established currencies.
For long-term stability, Bitcoin does not need to be a storage currency worth more than US dollars. It can continue to grow thanks to the support of other currencies. Bitcoins are more prevalent in heavily oppressed nations and are helping poor migrants send money home to their loved ones.
As Bitcoin grows, it can become more competitive than other currencies because the strongest currency is also subject to political risk.
Global and national crises will continue to directly support Bitcoin. Euro currency volatility, brexit and increased debt to gross domestic product in Western countries undermine the value of established currencies.
Active development blockchain technologies will give rise to the development of all cryptocurrencies. And in particular bitcoin will be appreciated even more
We're finding that more and more e-commerce and high-risk merchants are tending towards using bitcoin for reasons like cashflow management and avoiding chargebacks. Both topics that they struggle with when accepting CC payments. It's really just a matter of time until crypto as payment is a widely accepted method.
For something that can become a popular means of payment, you need the following:
Store of value: allowing individuals to make intemporal choices on when to spend their purchasing power
Medium of exchange: facilitating the exchange of goods and services by eliminating the inefficiencies associated with a barter economy
Unit of account: acting as a measure of value in the economic system.
Do you think the bitcoin has all three of these elements? I am looking forward to the bitcoin will become a popular payment method in the future.
I think bitcoin has fulfilled all three prerequisites. But regulation alone makes bitcoin unable to become a common payment instrument.
Bitcoin is one of the main innovators of the cryptocurrency world that can make many people choose bitcoin like the payment approach in transactions made by these people.
Bitcoin as a payment tool is increasingly popular because it is easy, cheap and fast. These three elements become the attraction of bitcoin users, as well as trading and investment tools. Bitcoin is a commodity that is traded because the value can go up and down, just like someone holds gold. 
if cryptocurrencies are recognized everywhere and by all, then perhaps such a society will be. but there are not always electronic devices, so the way to such a society has yet to be overcome
We just need to wait until the attitude towards bitcoin among the government becomes more loyal, while the technology itself becomes more stable, eliminates some shortcomings. And then it will really become a full-fledged currency of the world scale.
Bitcoin will definitely remain a popular payment method, we see all the prerequisites for this. He just needs a little time to get even more perfect.
I think bitcoin is not ready yet to become a popular payment method. Though bitcoin will be popular among the crypto enthusiasts but it needs to be popular to every people! What you mentioned, I think bitcoin hasn't those three elements, therefore, bitcoin is a too volatile digital currency, slow transactions system, fees, and other things can't make a popular payment method ever.
Bitcoin has all the chances to become a full-fledged means of payment. He just needs to be more stable. Now it is still in the development stage.
They should have the confidence to trust bitcoin over other major fiat currencies or cryptocurrencies and so far dollar.you have mentioned above and the other thing we can do is to make bitcoin more popular through social media.
For something that can become a popular means of payment, you need the following:
Store of value: allowing individuals to make intemporal choices on when to spend their purchasing power
Medium of exchange: facilitating the exchange of goods and services by eliminating the inefficiencies associated with a barter economy
Unit of account: acting as a measure of value in the economic system.
Do you think the bitcoin has all three of these elements? I am looking forward to the bitcoin will become a popular payment method in the future.
I think Bitcoin is already captured two definitions out of three. As of now most of people are storing their wealth in Bitcoin and becomes as Store of value. And Bitcoin became unit of account because most of the altcoins are trading with base currency Bitcoin.
And only one left, that is medium of exchange - this is in progress. Lightening network recently released its desktop wallet and if it releases its version for mobile then in no time we will see Bitcoin as medium of exchange.
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