Topic: What to make bitcoin a popular payment method? - page 6. (Read 2787 times)
Bitcoin already has all three, both as a store of value (such as gold), medium of exchange (such as: nexybit, binance, bitrex, etc.) and size values. For a long time almost all bitcoin users, looking forward to the bitcoin will become a popular payment method in the future. But we must be aware, as long as bitcoin is still hindered by tight regulations that's where the functions and benefits of bitcoin will be restrained namely only as a tool for investment.
You have a good list right there but I have to consider that not all of these can be fulfilled by bitcoin as there are problems interferring with its usage. Volatility is a major concern. If volatility is controlled many will have the chance to use it for so many purpose. The reason also for these is the dumping of coins by those who are just day trading and not so many are actually using it as a payment system.
TO THE BEST OF MY KNOWLEDGE, BITCOIN HAS SO FAR SURPASSED ITS EXPECTATION IN JUST A SHORT TIME INTERVAL. MAKING BITCOIN POPULAR IS NO BIG DEAL AGAIN AS IT IS WELL KNOWN ALL OVER THE WORLD AS A CRYPTO DIGITAL CURRENCY. BUT HOWEVER, A LITTLE WORK STILL NEED TO BE DONE. THERE SHOULD BE PRIVACY IN TERMS OF TRANSACTION AND ACCOUNTING,BITCOIN SHOULD BE STABLE IN TERMS OF PRICE VALUE, BITCOIN TRANSACTION COST CHARGES SHOULD BE MINIMAL FOR USERS, A SECURED MEANS OF TRANSACTING BUSINESS SHOULD BE EFFECTIVELY PUT IN PLACE AS TO AVOID HACKING, IT SHOULD BE ABLE TO MEET UP WITH NATIONAL ECONOMIC STANDARDS AND POLICY TO FAVOR THE AVERAGE OR THIRD CLASS INDIVIDUALS IN A NATION, IT SHOULD BE ABLE TO MEASURE THE ECONOMIC SYSTEM OF A NATION, THE BITCOIN COMMUNITY AND USERS AS WELL HAVE A WHOLE JOB TO DO. BEING PART OF IT GIVES YOU THE RESPONSIBILITY OF PORTRAYING THE IMAGE AND NAME OF BITCOIN IN A GOOD WAY. AS A BITCOIN USER AND BENEFICIARY YOU NEED PREACH THE GOOD NEWS ABOUT BITCOIN AND LET PEOPLE KNOW HOW IT WORKS. YOU CAN NOT BE A BITCOIN USER AND HAVE BENEFITED FROM IT AND STILL JOIN OTHER PEOPLE TO CASTIGATE IT. LETS JOIN HANDS IN PROMOTING BITCOIN IN A WAY THAT PEOPLE WOULD KNOW IT IS OF GOOD VALUE AND BENEFITS TO BE A PART OF IT.
I agree with you in that Bitcoin has surpassed its market value in a nice surprise but having it as the most popular option of payment would improve things but not too deeply.
TO THE BEST OF MY KNOWLEDGE, BITCOIN HAS SO FAR SURPASSED ITS EXPECTATION IN JUST A SHORT TIME INTERVAL. MAKING BITCOIN POPULAR IS NO BIG DEAL AGAIN AS IT IS WELL KNOWN ALL OVER THE WORLD AS A CRYPTO DIGITAL CURRENCY. BUT HOWEVER, A LITTLE WORK STILL NEED TO BE DONE. THERE SHOULD BE PRIVACY IN TERMS OF TRANSACTION AND ACCOUNTING,BITCOIN SHOULD BE STABLE IN TERMS OF PRICE VALUE, BITCOIN TRANSACTION COST CHARGES SHOULD BE MINIMAL FOR USERS, A SECURED MEANS OF TRANSACTING BUSINESS SHOULD BE EFFECTIVELY PUT IN PLACE AS TO AVOID HACKING, IT SHOULD BE ABLE TO MEET UP WITH NATIONAL ECONOMIC STANDARDS AND POLICY TO FAVOR THE AVERAGE OR THIRD CLASS INDIVIDUALS IN A NATION, IT SHOULD BE ABLE TO MEASURE THE ECONOMIC SYSTEM OF A NATION, THE BITCOIN COMMUNITY AND USERS AS WELL HAVE A WHOLE JOB TO DO. BEING PART OF IT GIVES YOU THE RESPONSIBILITY OF PORTRAYING THE IMAGE AND NAME OF BITCOIN IN A GOOD WAY. AS A BITCOIN USER AND BENEFICIARY YOU NEED PREACH THE GOOD NEWS ABOUT BITCOIN AND LET PEOPLE KNOW HOW IT WORKS. YOU CAN NOT BE A BITCOIN USER AND HAVE BENEFITED FROM IT AND STILL JOIN OTHER PEOPLE TO CASTIGATE IT. LETS JOIN HANDS IN PROMOTING BITCOIN IN A WAY THAT PEOPLE WOULD KNOW IT IS OF GOOD VALUE AND BENEFITS TO BE A PART OF IT.
One major reason that BTC is not much useful in payment method is the volatility in it's price.And the currency is no also accessible to non tech users.
this is the only problem of bitcoin as a payment union. volatility is an integral part of it. it does not get rid of it
people will consider using bitcoin as a payment method because bitcoin is the most effective and the way to make bitcoin can be one method to pay on one site online shopping
One major reason that BTC is not much useful in payment method is the volatility in it's price.And the currency is no also accessible to non tech users.
To make Bitcoin popular, you must share your positive experience when it comes to Bitcoin. The Good effects and the convenience of Bitcoin to financial transactions.
And this positive experience needs to b shared on platforms other than social networking websites or chat groups as well. I feel that there is already enough of online promotions for crypto. Now we need to explore untapped market which do not use internet that frequently. Something like sharing experience in local gatherings with friends can be one step in right direction.
In my opinion, utility is the most discussed topic for Bitcoin as it is being used as the electronic currency of the future.
All transactions will be made easily with just one click. It's simple right?
Secondly, privacy, personal privacy is professionally done
Thirdly, transaction costs will be much lower than traditional ones.
Perhaps it is these reasons that make the BTC a common currency used for payment.
All transactions will be made easily with just one click. It's simple right?
Secondly, privacy, personal privacy is professionally done
Thirdly, transaction costs will be much lower than traditional ones.
Perhaps it is these reasons that make the BTC a common currency used for payment.
The regular payment methods are old and unfashioned way of paying invoices.Current system gives us a right to make things easy included payments. There are other alternatives as avaliable on the popular payment providers and in my opinion they will accept cryptocurrencies as soon as possible.
Bitcoin is probably the principal leaders with the cryptocurrency planet that tends to make some individuals go for bitcoin being a way of transaction inside purchases they will carry out, but also for today bitcoin features a compete with which is Ethereum which may conquer bitcoin being a way of transaction.
In my opinion, bitcoin can be the most popular payment method because one main thing is that the marketing team and the bitcoin promotion team succeed in making bitcoin known to the public. I really appreciate the bitcoin team's work. They have succeeded in making bitcoin gain the trust of the community. Another factor is only a co-factor. When bitcoin does not gain public trust, bitcoin cannot survive until now. So far, when we talk about crypto currencies, the first time the public knows is bitcoin. The name of bitcoin is ingrained and deeply rooted in the soul of the community.
Bitcoin has the necessary attributes to become a popular payment method because Bitcoin has the nature of money, among them; durable, concise, can be exchanged, can be shared, and also got a trust and acceptance.
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 important thing to become a good currency that used by many peoples is a great stable value.
Peoples may dont want to risk their money if their money value will drop with a great amount later.
To make Bitcoin popular, you must share your positive experience when it comes to Bitcoin. The Good effects and the convenience of Bitcoin to financial transactions.
I think BTC has all chances to become the worldwide payment method. It can have all three aspects. Furthermore it is a fast and cheap method of transactions so people can enjoy its benefits
bitcoin is able to store the value of assets, bitcoin is able to facilitate every trade in exchange, but today bitcoin does not have the character to measure the value of the economic system. bitcoin is illegal, and many countries reject bitcoin.
we will wait until the world receives bitcoin as a means of payment.
If many countries reject bitcoin I guess the greediness of their leaders wasn't giving people their freedom on finances. Bitcoin can return back every people's effort as a tax payer, and the excess taxation that we're been paying of; bitcoin could really provide that to us. It became popular payment method because it has no boundaries. we will wait until the world receives bitcoin as a means of payment.
bitcoin is able to store the value of assets, bitcoin is able to facilitate every trade in exchange, but today bitcoin does not have the character to measure the value of the economic system. bitcoin is illegal, and many countries reject bitcoin.
we will wait until the world receives bitcoin as a means of payment.
we will wait until the world receives bitcoin as a means of payment.
If bitcoin remains their performance then people will more connect with this market. Because people are influenced by others. If bitcoin maintain other countries rules and regulation then government will accept this currency.
The future of payment lies in bitcoin. As the popularity of bitcoin is on the rise now, very soon people will appreciate how easy it is to use bitcoin as a means of payment for goods and services.
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