Topic: What to make bitcoin a popular payment method? - page 8. (Read 2739 times)
Tariffs in different countries allow many people to pay high taxes when they cross borders, and it takes a long time to do so, but the BTC can now solve this payment bottleneck.
Bitcoin should become more stable in order to be a popular method of payment.Bitcoin or Altcoins have the potential to compete with fiat currency. they can be treated as a method of payment and a safe storage of value.
We are talking about decentralized money and still we want to regulate it ? It is like we are standing under open sky on a shiny day and want to dry up our sweat ! Bitcoin is getting popularity and it is safest if you know how to deal with it. And if you talk about potential, Both fiat and crypto have potentials. They will not replace each other. rather they will be side by side.
The more you will educate your community about crypto, the better. And Crypto will become popular globally
To teach is good. But there are countries in which they do not believe even cashless settlement. Only cash. Even when making a profit on a cash card, I try to withdraw cash. And all the calculations should be made only with money. What should be the information that they would believe in bitcoin?
Store of value,Medium of exchange and Unit of account..Technically all of them can be provided with Bitcoin..But it takes more time to become popular..This can happen when factors such as transaction speed, transaction fees, and unpredictable value are resolved.
I very much doubt that bitcoin will sometime be used for payments. For these purposes, there are more advanced cryptocurrencies. People prefer bitcoin "hold".
Only creating new facilities that can apply with going to be more popular as a payment method will be good for Bitcoin. If you can buy what you need, use bitcoin as a payment method, more people join bitcoin.
because bitcoin is the parent of the currency crypto and bitcoin also its price is expensive in comparison with other coins.
Now Bitcoin popularity around the country. The government of every country will have to facilitate Bitcoin transactions. And there will be a bitcoin transaction through every country's central bank. The government has to transaction with Bitcoin bank through law.
Definitely, bitcoin has all the three characters. Moreover these three it has easy means of payment, decentralised system, Intangible asset.
what about transaction fee? you can say that bitcoin is a good method of payment because of all three things, but of course people using a particular payment method will first see the cost fee first? if there are other cheaper payment methods they will certainly choose another 
maybe for me right now is not good for Bitcoin as the payment method, because as we know that bitcoin is can;t used every day and every time, because of the medium of the bitcoin is hard to use, if you want to send bitcoin you should input the address and the amount manually, it makes hard than use the QR code or something else, i know that there are many wallet platforms that uses QR for input, but its not in all wallet and platform,
The massive adaption will make bitcoin as a popular payment because that is only the way that i believed that will work because as long as a lot of businesses like stores in mall or even outside the mall, as long as they are using bitcoin as a mode of payment then it will have an exposure to the customers where they might be interested in investing or using it also.
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 personally feel direct investment in bitcoins is a far better investment than investing in bitcoin start-ups, even the successful ones that can bring 20x your money. There is practically zero risk that any altcoin can overcome it's enormous network effect, and the blockchain cannot operate without bitcoin the currency being valuable in order to incentivize it... So if any these hundreds of millions of dollars of VC money is going to pay off, the price of bitcoin has nowhere to go but WAY up.
Bitcoin is the brand, the name, the future. It will always be a store of value, very limited supply and it tradable against all other coins on exchanges. So it will continue to grow in value.
Bitcoin Cash on the other hand, has faster transactions, lower fees and is more likely to be adopted for day to day use. As it is partnered officially with Bitcoin it will continue to grow in popularity.
Bitcoin Cash on the other hand, has faster transactions, lower fees and is more likely to be adopted for day to day use. As it is partnered officially with Bitcoin it will continue to grow in popularity.
The main problem bitcoin faced was its transaction cost, but it has come down significantly for the past few months. As the transaction fees have come down, it would be the most popular payment method in future.
I think the sooner the bitcoin also becomes a method of payment for the world. I believe that would be true because there were so many countries Recognizing the bitcoin
Every country has an own regulation on payment when bitcoin is legalized to all country this is an alternative currency and will accept as payment.
If by legalize you mean that banks will have to make bitcoin an officially recognized means of payment, than I have a bad news for you, it will never happen 
No central bank will allow itself to loose the control over currency of any given country. No government will agree to utilize and merge its finance with technology of unknown origin. Good news is that we, the people, can. Bottom-up initiative is way better anyway. Start to use crypto in transactions between friends and relatives, if you own a e-shop use it as well and voila, bitcoin accepted all over the place.
It can be recognized as a means of payment by a central bank and still not affect the central bank's own currency it issues. I don't think that the two are such that they can't exist side by side as they do now. It's not really much different than the current situation.
This was recently pointed out directly in the decision of the European Parliament's Committee on Economic and Financial Affairs.
Could you point us to the source of this news? It would be huge, in fact so huge that I can't imagine, basically hard to believe.Maybe we have some sort of misunderstanding here, by recognition as a legal way of payment, I mean situation where a shop keeper has no right to refuse you making a purchase with bitcoin. By refusing he is in violation with the law, and faces fine or prison time. This is how things are with fiat money now. There are some derogations from it like legal age in case of alcohol etc. Anyway source please
Every country has an own regulation on payment when bitcoin is legalized to all country this is an alternative currency and will accept as payment.
If by legalize you mean that banks will have to make bitcoin an officially recognized means of payment, than I have a bad news for you, it will never happen No central bank will allow itself to loose the control over currency of any given country. No government will agree to utilize and merge its finance with technology of unknown origin. Good news is that we, the people, can. Bottom-up initiative is way better anyway. Start to use crypto in transactions between friends and relatives, if you own a e-shop use it as well and voila, bitcoin accepted all over the place.
With such slow speed of transactions, it will never become a popular payment method
there are many reason for bitcoin popularity.some of them are given below,
=its very easy to use as a payment method .
=available every where around the world.
=people can easily buy this using their money anywhere in the world.
=its security is great than other and also very trust worthy because of its all performance in everywhere .
=people can easily recognize this and accept this as their payment .
etc there are many more reason for bitcoin popularity as a payment method .its becoming important payment method in crypto currency.
=its very easy to use as a payment method .
=available every where around the world.
=people can easily buy this using their money anywhere in the world.
=its security is great than other and also very trust worthy because of its all performance in everywhere .
=people can easily recognize this and accept this as their payment .
etc there are many more reason for bitcoin popularity as a payment method .its becoming important payment method in crypto currency.
Jump to: