What's Next? After Bitcoin Passes The 60K Mark...... - page 7.

matchi2011

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Quote from: goldade on March 25, 2021, 09:16:51 AM

Quote from: rc4739 on March 24, 2021, 10:52:16 AM

Is bitcoin for speculation only? or it is really useful in our daily life? just curious.. What product can we buy by using bitcoin only... how many Merchant accepting bitcoin? is it a huge number? what do you think?

1. Bitcoin isn't for speculation only. Maybe we can't see the full potential of bitcoin now but bitcoin was made to be a currency just like the Us Dollar and every other currency you might think off. It was made to spent and used for day to day transactions. However, due to the volatility of bitcoin, it is very difficult for this to happen.
2. Yes, It is really useful in our daily lives. Maybe the local stores that you have around you don't accept bitcoin but there are major companies that accept bitcoin for their services and products. Here is a link that talks about those companies
https://99bitcoins.com/bitcoin/who-accepts/

I do think that it is only a matter of time that bitcoin becomes the worldwide currency and is being used and accepted by every merchant.

From how Bitcoin growth and become popular, only a matter of time and it surely be accepted all over the world, there
are many institutional investors and businesses who catered Bitcoin.

From that view point we can assume that in coming years Bitcoin will serve it's purpose, being used for transacting
beyond borders for much quicker and safer process.

Finestream

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Quote from: BrewMaster on March 25, 2021, 11:13:30 AM

price doesn't change the bitcoin's true purpose, when it was worth $0 and when it will be worth $10million it still the same currency that Satoshi Nakamoto created. for example when it was worth literary nothing someone paid 10000 of it for 2 pizzas which is now known as the first bitcoin purchase in history.
this trend has only grown with the price too. meaning as the price goes higher more people are spending bitcoin. you can even get paid in bitcoin as your salary or part of it.
and of course some people will see this rise and only invest in bitcoin as an asset to make profit but that won't change bitcoin as a currency.

Bitcoin will always be a currency because it is originally designed for it even if nowadays its more of an asset or a good store of value. Now what's next for bitcoin? I honestly think that $100k is very possible for bitcoin at the end of the year. Or it may even surpass it and end up with a new ATH. So having bitcoin as a global currency in the future is now close to reality since institutional investors keep pumping its price untill all big establishments start to accept bitcoin.

BrewMaster

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price doesn't change the bitcoin's true purpose, when it was worth $0 and when it will be worth $10million it still the same currency that Satoshi Nakamoto created. for example when it was worth literary nothing someone paid 10000 of it for 2 pizzas which is now known as the first bitcoin purchase in history.
this trend has only grown with the price too. meaning as the price goes higher more people are spending bitcoin. you can even get paid in bitcoin as your salary or part of it.
and of course some people will see this rise and only invest in bitcoin as an asset to make profit but that won't change bitcoin as a currency.

Alucard1

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I think we are going to see a good movement of bitcoin in the market this upcoming day because of the tweet of Elon Musk regarding Tesla. Bitcoin is a really good asset so a lot of companies are accepting it and a lot of famous names are now exploring and investing with bitcoin. We can now see a good innovation for bitcoin and I am hoping that we can see a mass adoption shortly.

goldade

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Quote from: rc4739 on March 24, 2021, 10:52:16 AM

Is bitcoin for speculation only? or it is really useful in our daily life? just curious.. What product can we buy by using bitcoin only... how many Merchant accepting bitcoin? is it a huge number? what do you think?

1. Bitcoin isn't for speculation only. Maybe we can't see the full potential of bitcoin now but bitcoin was made to be a currency just like the Us Dollar and every other currency you might think off. It was made to spent and used for day to day transactions. However, due to the volatility of bitcoin, it is very difficult for this to happen.
2. Yes, It is really useful in our daily lives. Maybe the local stores that you have around you don't accept bitcoin but there are major companies that accept bitcoin for their services and products. Here is a link that talks about those companies
https://99bitcoins.com/bitcoin/who-accepts/

I do think that it is only a matter of time that bitcoin becomes the worldwide currency and is being used and accepted by every merchant.

kaya11

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Quote from: rc4739 on March 24, 2021, 10:52:16 AM

Is bitcoin for speculation only? or it is really useful in our daily life? just curious.. What product can we buy by using bitcoin only... how many Merchant accepting bitcoin? is it a huge number? what do you think?

It will be another success, though regulations and stuffs might be coming on bitcoin again. Or another hindrance would pop up stacking it's price or maybe falling down. What's sure is that even though hard times comes let's be strong and add more bitcoins to our bags. Sleep again and maybe wait for another 3 years again.

iamsheikhadil

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Well, if Amazon starts to accept crypto then that leads the life way to puchase anything that's available online using crypto Grin

, PayPal has been quite positively vocal about crypto and added it to their system, if people can use crypto when paying with PayPal, then also that will make lots of room to purchase online. I think there needs to be an intermediary and we may not be able to find any shop that accepts direct crypto from users without need for converting it to fiat, because the shop owner would also need fiat for his own family to buy groceries etc.

Oasisman

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Quote from: rc4739 on March 24, 2021, 10:52:16 AM

Is bitcoin for speculation only? or it is really useful in our daily life? just curious.. What product can we buy by using bitcoin only... how many Merchant accepting bitcoin? is it a huge number? what do you think?

Too many questions, obviously a newbie questions.
Bitcoin could be useful in your daily life just like how fiat could be useful in your daily life. Day by day merchants, services, and entertainments are gradually accepting Bitcoin. So, the mass adoption are slowly taking over.
Just look at how Bitcoin has priced today. By just looking at it, you can already tell how huge the number of people, company, and institutions are owning Bitcoin.
And, everybody thinks the way I think because you're in a Bitcoin forum.

BlackHatCoiner

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Quote from: rc4739 on March 24, 2021, 10:52:16 AM

Is bitcoin for speculation only?

Who are you asking? You should consider it as whatever you want it to be! If you find it useful then no, it isn't for speculation only. If you're an experienced trader that makes these suitcases loaded with dollar bills, then it's for speculation only. If you want to hold them for the next century, then it's a store of value. Whether you see it as a medium of exchange, a short-term investment or a store of value, it'll be useful to you.

Quote from: rc4739 on March 24, 2021, 10:52:16 AM

What product can we buy by using bitcoin only...

Well, if you google "what can I buy with bitcoin" you will find some results, that aren't many to be honest. But, in reality they are. What do I mean: Even if amazon doesn't accept bitcoin, there may be a group of people that sell amazon coupons with bitcoin and thus you can buy amazon stuff with bitcoin.

Wexnident

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Did a quick lookup, and according to what I found, there are over 15k merchants that accept Bitcoin as payments, 2k of them are at the US. Now I don't know for sure if I should use this as a reference, but I tried looking up the number of online retailers in the entire world and found there were 7.9m around the globe, and 2.1m in the US, and that's only the online ones (I'm not really sure if the online/offline ones are counted as one). Just from that, the amount that accepts Bitcoin is pretty small, but hey, we're only a decade old and we could only go up from where we are atm. Plus, once the issues of fees and speed are fixed (Only fix I know as of late is the Lightning network) I'm guessing more would adopt it as a mode of payment.

https://www.fundera.com/resources/how-many-businesses-accept-bitcoin
https://www.etailinsights.com/online-retailer-market-size

meanwords

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Bitcoin is mainly a currency but mostly treated as an asset. That's why some merchants are accepting Bitcoin now and there's a huge selection of them because there's actually people willing to pay in BTC. Though there are some who use Bitcoin for their daily life, a huge majority of the population still can't make it feasible due to the fact that the fees aren't as cheap as paying with physical fiat (which is free), but Bitcoin is getting there.

maydna

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Quote from: rc4739 on March 24, 2021, 10:52:16 AM

Is bitcoin for speculation only? or it is really useful in our daily life? just curious.. What product can we buy by using bitcoin only... how many Merchant accepting bitcoin? is it a huge number? what do you think?

I will be okay if bitcoin is for speculation of making money because as long as we can make money from bitcoin, we should accept it. We can use bitcoin in our daily life, such as buying something in real life. But until that time comes, we should be happy to earn more bitcoin from now on, so when that time comes, we are ready to use bitcoin to buy what we want in real life.

Perhaps, right now, you can only use bitcoin to buy something on the internet, but I believe that we will be able to use bitcoin to buy something in local stores in the future. We already see in some countries that people can buy their daily needs in a local store to happen in many countries in the future. But I do not know how many merchants already accept bitcoin as I don't use bitcoin to buy a product in real life or on the internet. I prefer to buy low and sell high of bitcoin and accumulate more bitcoin before the price jump to the high price.

Lorence.xD

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For now there really isn't a lot of real life uses for bitcoin like daily transactions but I think that it will change overtime because bitcoin adoption is steadily growing and with Tesla's announcement that you can buy a car from them using bitcoin, it only helped spur a new movement that is definitely going to influence other car companies or other companies to integrate a bitcoin payment system in their existing payment system.

AmoreJaz

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Quote from: livingfree on March 24, 2021, 03:04:16 PM

Quote from: rc4739 on March 24, 2021, 10:52:16 AM

Is bitcoin for speculation only?

It is a speculative asset.

Quote from: rc4739 on March 24, 2021, 10:52:16 AM

or it is really useful in our daily life?

It is.

Quote from: rc4739 on March 24, 2021, 10:52:16 AM

What product can we buy by using bitcoin only

Everything. Online services, goods and even tangible products where the merchant accepts bitcoin payments.

Quote from: rc4739 on March 24, 2021, 10:52:16 AM

how many Merchant accepting bitcoin? is it a huge number? what do you think?

Yes, it's a huge number. I'll give a perfect example, Tesla.

https://www.cnbc.com/2021/03/24/elon-musk-says-people-can-now-buy-a-tesla-with-bitcoin.html

and if the OP cant find any merchant nearby accepting bitcoin, why not convert his BTC to his fiat, and use that money instead? am not seeing any prob here when it comes to finding shops or merchants accepting bitcoin. because you can always convert it to your fiat. dont be hard on yourself. remember, it is easy to find fiat rather than accumulate BTC.
and definitely, whats next for 60k? 70k and so on...the adoption today is way different than in the previous years.

lalabotax

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After Bitcoin reached $60k, in fact, the role will have always another market correction. And like what happens right now, Bitcoin has touched the low resistant barrier, and now it is US$52.578,31. if the bear trend of Bitcoin is still ongoing and continuing, probably it can drop to $50. However, I personally really hope that the drop condition will end soon and Bitcoin will be increasing again and also the price will touch another ATH. But, maybe it needs to be sideway in order to give chances to altcoins to have their altcoins seasons.

Hydrogen

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Bitcoin being one of few "inflation protected assets" on the market translates to it being a sought after investment in eras where fiat devaluation and high inflation are concerns. This is the traditional view which says gold, silver and precious metals should be valued far higher than current market prices. To project an accurate estimate of future inflation protected assets, one must first explain current market value of gold/silver. Most prefer to avoid attempting to explain current precious metal prices and want to believe market movements are complete random things. Many revert to MMT modern monetary theory, new age ideology, which says american fiat can never truly devalue or hyperinflate as it is backed by the might of the US military, rather than acknowledge there might be an issue with economic policy.

I think its safe to say bitcoin's future will be a struggle between those who believe inflation protected assets are a safe and reliable store of wealth. And those demographics who prefer everyone hoard their wealth in fiat, bank accounts or something else. The outcome of said struggle will determine the future of everything.

livingfree

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Quote from: rc4739 on March 24, 2021, 10:52:16 AM

Is bitcoin for speculation only?

It is a speculative asset.

Quote from: rc4739 on March 24, 2021, 10:52:16 AM

or it is really useful in our daily life?

It is.

Quote from: rc4739 on March 24, 2021, 10:52:16 AM

What product can we buy by using bitcoin only

Everything. Online services, goods and even tangible products where the merchant accepts bitcoin payments.

Quote from: rc4739 on March 24, 2021, 10:52:16 AM

how many Merchant accepting bitcoin? is it a huge number? what do you think?

Yes, it's a huge number. I'll give a perfect example, Tesla.

https://www.cnbc.com/2021/03/24/elon-musk-says-people-can-now-buy-a-tesla-with-bitcoin.html

Gyfts

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You can expect BTC's price to literally sky rocket with countries like the US spending record amounts of money.

It's rumored that Joe Biden is releasing a 2-3 TRILLION dollar "infrastructure" plan on top of the 1.9 trillion dollar spending bill already proposed. The USD will crash within everyone's life time, because it will happen soon. This sort of spending for the world's largest economy by GDP is not sustainable, so it isn't unreasonable to think 60k is just the beginning because you have to understand...for every bill printed, you are borrowing the money to pay back at a later time plus inflation.

60k will seem like child's play.

Fesatmas

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Quote from: rc4739 on March 24, 2021, 10:52:16 AM

Is bitcoin for speculation only? or it is really useful in our daily life? just curious.. What product can we buy by using bitcoin only... how many Merchant accepting bitcoin? is it a huge number? what do you think?

even though there are products that can be bought with bitcoin, I don't think it means we are wasting this opportunity, just because these products can be bought with bitcoin. still I will think twice. besides the growth of bitcoin, which is increasing day by day, it would not be a thought if the money in your pocket can still buy it.
I will keep bitcoin for the future. although I am interested in a particular product, it is not possible to exchange it for a future asset such as bitcoin.

In other words, I would rather not buy a product that I like, rather than having to get rid of bitcoins just for the sake of things that will be useless. while bitcoin will be increasingly rare and valuable.

think clearly

Swopon

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Quote from: rc4739 on March 24, 2021, 10:52:16 AM

Is bitcoin for speculation only? or it is really useful in our daily life? just curious.. What product can we buy by using bitcoin only... how many Merchant accepting bitcoin? is it a huge number? what do you think?

All the mentioned question's already answered. I want to mention here that day by day the value of Bitcoin will increase definitely because of getting modern. People are enjoying cashless society. To establish it, we need to think of converting fiat to digital currency or we need to store fiat to digital wallet. Basically, people are not willingly interested to give extra money for it, if you store your finds using crypto, you won't be charged for it. So it is easy for you to store and use. After passing the $60k marks, we may see another ATH by it very shortly.

Topic: What's Next? After Bitcoin Passes The 60K Mark...... - page 7. (Read 1336 times)