Topic: What to make bitcoin a popular payment method? - page 5. (Read 2739 times)
Bitcoin is theost easiest money changing system. For me it's convenient as a medium of exchange. No meed to bring big cash to pay for your food and accommodations. You only use your phone to transfer your money.
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.
The reason bitcoin is popular is because of certain factors:
because the bitcoin exchange rate is bigger than other coins, the value of the currency is safer and safer and users start developing.
It can already be considered a way of paying for goods and services. Every day the number of organizations that accept bitcoins as payment means increases.
NOTHING. Bitcoin will just do what's its purpose and as we can see, the adoption rate of bitcoin from different entities from different countries across the world is increasing each year. So with the coming years, it is expected that it will ballooned to a greater percent.
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.
Bitcoin is a great currency and suitable to become a top payment method, but for now the government still hesitate to used it because of the anonymity, the local shop still hesitate 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 method
Why did you decide that bitcoin is an anonymous currency? When you make a transaction, everyone sees how much and where you sent the bitcoins. In my opinion bitcoin is a very transparent currency in comparison with Manero.
In our country, we have wallet called coins.ph, we can use the bitcoin as payment in that wallet, if bitcoin is not available for payment method we usually convert it to our own currency. But not yet available on payment to bank accounts.
I think the factor that need bitcoin a popular payment of method is first, the government and banks full acceptance of bitcoins as currency. In this way many people will invest and have the assurance to store there income in banks and withdraw as a physical real money and use for transaction.
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.
To date, all three you mentioned already exist and is in use. The thing right now is choice. Even with the facilities available, many users still decide to convert their bitcoin to fiat currency, probably because of how used we are to cash.
Personally, i use my bitcoin even for the smallest payment of topping up my mobile phone load. Sometimes i also pay my bills with it. Yet, still i'm guilty at times of converting my bitcoin to fiat currency as there are some payments i wanted to make in cash.
As to your concern and desire to see bitcoin become a popular method of payment, don't worry, it's on its way already.
For sure, the bitcoin will become a popular payment method. It is a fact as many people are now using it everywhere. It has the necessary tools to become a popular payment method. First, it is already popular. People know about bitcoin and want to use it in their business and transactions. Second, it is controlled by no one. This gives an excellent advantage to cryptocurrency. Finally, startups are popping and creating exchange platforms and other facilities to enable the use of cryptocurrency.
I think Bitcoin will become a popular payment method in the future. But with that, governments around the world have to accept Bitcoins and get it circulated in their countries. Thus Bitcoin can grow well in the future.
For bitcoin to be generally accepted as a payment medium, the key technologies needs to be improved on.
I'm talking about the latency issues, that constitute low transaction confirmation speed .
If this and others are improved on..we might see bitcoin taking over the global payment system in the nearest future.
I'm talking about the latency issues, that constitute low transaction confirmation speed .
If this and others are improved on..we might see bitcoin taking over the global payment system in the nearest future.
-Make The Value Less Volatile/more Stable
-transaction cannot be reversed
-More Vulnerable To Hacker Than CC
-Still Not yet Regulated on Most Of country
-transaction cannot be reversed
-More Vulnerable To Hacker Than CC
-Still Not yet Regulated on Most Of country
It is because decentralized and no one owns it. You can send bitcoin or receive as long as you have internet connection, that is the best feature of Bitcoin and you will never going to bank anymore for sending payments to other people.
if it's bitcoin in my opinion it's still not right because the value is vilility and if it's converted to fiat it is still very large for per bitcoin. but if we look at some altcoins such as XRP, XLM and also EOS which have small satoshi values and tend to be stable in value if converted to fiat, this would be suitable as a popular payment tool just how we promote it
Maybe more advertising on TV, because many people dont know who exactly is Bitcoin and how it works, and some improvements like less fees and more speed on transactions, these things make a huge difference the question of payments.
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.
Indeed, bitcoin is currently very popular and financial authorities around the world seem to be flexibilizing about the possibility of using it as a legal payment system. So I think that bitcoin is on the right track, and it's only a matter of time before we see it established as one of the most popular payment methods.
one of the important elements that must be owned by a payment instrument is that its value must be stable, and I don't think bitcoin has that yet. The price is very volatile in the market and this can cause losses for merchants who receive payments on a small scale. But fluctuations are also an attraction for investors to involve in bitcoin investment.
Fluctuations are also favored by merchants who have the courage to make payments with the BTC method,have you ever seen in the newspaper about pizza merchants coffee clothes or car musical instruments and others that have been successful through BTC.a merchants can also be said to be an investor well in my opinion BTC is very suitable for payment dude.
one of the important elements that must be owned by a payment instrument is that its value must be stable, and I don't think bitcoin has that yet. The price is very volatile in the market and this can cause losses for merchants who receive payments on a small scale. But fluctuations are also an attraction for investors to involve in bitcoin investment.
I think that the market lacks stability, it is very volatile! The authorities have not settled everything, because everything is still at the initial stage!
As soon as there are transactions on gas or oil, expect big changes!Big players are already looking at these assets!!!
bitcoin will be popular in 2 years !!!
As soon as there are transactions on gas or oil, expect big changes!Big players are already looking at these assets!!!
bitcoin will be popular in 2 years !!!
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