Topic: What to make bitcoin a popular payment method? - page 9. (Read 2787 times)
Yes! In fact Bitcoin is already being used in other countries as a legal means to purchase or buy items and even services. Bitcoin is already being acknowledged as a legal means of payment.
Definitely, bitcoin has all the three characters. Moreover these three it has easy means of payment, decentralised system, Intangible asset.
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.
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.
bitcoin facilitates the activity in terms of digital payments with a high degree of accuracy and very fast and secure. and bitcoin make it easier for us to conduct financial transactions with other countries. without having to exchange our money according to the country of destination.
because of its volatility it will be hard for bitcoin to become one popular means of payment. price is not stable so you or the one you want to pay may lose a portion of the payment.
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 the elements that are necessary to become a popular payment method, although today bitcoin is not yet fully prepared to handle the number of transactions has been done by conventional currency or credit card networks. But, since the first created, every aspect of the Bitcoin network proceeds to grow in terms of maturity, optimization, and specialization. Bitcoin can be a popular payment method as traffic grows and more Bitcoin users.
Since I am involved in international transactions, Bitcoin has proved very beneficial for me not on in terms of money but also in terms of time. Generally, the cost of Bitcoin is 5 to 10% higher in my country as compared to that of international exchanges and that is the reason why I am able to give flat 10% discount to my clients across the globe instead of charging any fees. Cheaper and faster transaction is a prime reason for me to use Bitcoin as a payment system.
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 if we want to make bitcoin as popular payment, bitcoin should have fast and cheap transaction fee. Beside that, government regulation needed if we want bitcoin used for payment. Many merchant afraid accepting bitcoin as payment because regulation from government.
I am believe in next 3 years peoples and merchant accepting bitcoin for transaction, like we accepting paper money.
I am believe in next 3 years peoples and merchant accepting bitcoin for transaction, like we accepting paper money.
most likely bitcoin will be a valid exchange in the future I believe it, because bitcoin sekrang already popular in msyarakat I follow the development of bitcoin from time to time
every country have a rules for bitcoin and for that we sure some people interesting to join and will help to our popular method and we will happen. by now token will be buy other people to payment method.
I agree with you . These three factors make bitcoin the primary payment method. It has the essentials to become a currency and meet the demand for payment for different purposes. On the other hand, many companies, stores accept payment bitcoin. So, you can consider it as a payment method that can be widely used in the future
By now, bitcoin is more popular than any other coin and it may be a method of payment in the near future because it has a value and its value makes it precious in a way that it can be used as a payment method someday.
We should used it and spread the news about using btc as payment system and show them how we used it and how it is more convenient for us to have it in our life.
It will happen. That is my opinion.
Somehow people will have to go with it.
Advertisements help bitcoin be known and it should reach even the smallest merchant there could be.
With the growth of number of merchants then we might be seeing a better kind of payment method. Faster and more secure.
There are still people who cling with the traditional way. It will change in the coming years.
Somehow people will have to go with it.
Advertisements help bitcoin be known and it should reach even the smallest merchant there could be.
With the growth of number of merchants then we might be seeing a better kind of payment method. Faster and more secure.
There are still people who cling with the traditional way. It will change in the coming years.
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.
Unfortunately there are many consediration if bitcoin use as payment method worlwide because need to learn the the movement flow of bitcoin as high volatile currency, but there's big chances bitcoin become use as payment in any store worldwide.
I think with the current situation, Bitcoin is not being used as a currency but as a store of value. I think still there is no mass adoption of Bitcoins or any other cryptocurrency as a currency that can rival fiat currency. To my understandng Bitcoins is simply used as a store of value. Many people view Bitcoins as a store of value and a way to make quick money.
I think that it is marketing and it is one of the first crypto. Nonetheless, I think that Token Sale projects will be more popular soon. Actually, I have found a really good project - Socratus. It is a digital platform for insurance companies. So any insurance company can connect the platform to become the part of Insurance Digital Ecosystem. They are aiming to create a win-win insurance whereby you get instant claim payment, fair and transparent dealing and friendly prices. From my point of view, it is innovative and fit the market.
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.
On the other hand, some business structures that took bitcoin to pay began to abandon it after a while, citing the fact that bitcoin has a very high degree of volatility.
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