Why is the use of Bitcoin increasing? - page 11.

ActiveMars

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Quote from: no0dlepunk on November 27, 2017, 07:23:58 AM

Quote from: Nancy Lisa on November 27, 2017, 06:23:27 AM

Banking institutions, law enforcement agencies, business leaders, Governments and many others call Bitcoin ‘illegal.’
But then - Why is the use of Bitcoin increasing?

Not actually the use of Bitcoin, but the investors are the ones increasing. To be honest, until now there are less people using bitcoin as payments especially when the Silkroad has been shut down by the "man". On the other hand, bitcoin isn't illegal... it's just sort of unrecognized... but you can wait for a year or two and let's see what will happen.

And if (or right to say "when") Bitcoin will become legal, what will do the community? Will HODLers start to spend their coins or hold and buy more bitcoin. As we know, BTC network have some problems (transactions frequency, high fees) that must be solve.

darkangel11

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Don't let others control your BTC -> self custody

IMO the use isn't increasing so much as the value due to people's hopes of quick and easy money. People are naturally greedy and want everything here and now. They read the articles and watch videos of young people who became millionaires with not much effort and think they're smarter than that, that they can repeat their success, that BTC is a goldmine waiting for them to arrive. I believe in BTC but right now a lot of its value comes from new people who came in with big money to become rich in a short time.

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Quote from: Nancy Lisa on November 27, 2017, 06:23:27 AM

Banking institutions, law enforcement agencies, business leaders, Governments and many others call Bitcoin ‘illegal.’
But then - Why is the use of Bitcoin increasing?

The use of bitcoin is increase because more people are coming into the crypto currency world and people have finally realized that bitcoin does make every man equal and it also here to put an end to the financial problem.

Colt81

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Quote from: saedasda on November 27, 2017, 08:02:13 AM

Every country in this world is trying to use Bitcoin for payments that how bitcoin is introduce to them. This is just the beginning the price of bitcoin will go up

I cetainpy agree, as of now many country try to adopt bitcoin and they want to used as money where they can used as a payment in some transactions. But still there are some countries that against in bitcoin but I still believe that in the future all country will legalized it.

Samueltalk

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Because the public has understood the usefulness of bitcoin, so that many are investing in bitcoin, did not rule out the bitcoin will continue to increase its users.

Raju Ahammed

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today bitcoin is the top profitable thinks in the world .people know something about bitcoin day by day.that's why use of bitcoin is now increasing.thank you.

allthingsluxury

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Bitcoin is the hot market right. The hot money is chasing bitcoin. Also, it is destined to change the markets forever.

Indrawan77

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Yes most of the government institutions want go called it illegal because they ruined the centralization principle, with bitcoin they can't control anything, this is also one of the reason why bitcoin like being used by a lot of people, because it is decentralised, nothing can control the bitcoin except the market that is why the price can go very high, for now most of the people used it for investment and most of them dont care whether it is illegal or not because bitcoin is super profitable

semarmesem195

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Certainly bitcoin users will continue to increase. Because bitcoin is much talked about by people, it makes people who do not know bitcoin become curious and try to use bitcoin. Not to mention the higher bitcoin price over time makes people increasingly want to use bitcoin.

googs84

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Bitcoin has crossed $9000 mark today. It may cross $10000 by the end of this year. But however it does not mean that bitcoin is becoming popular or its use is increasing. Most of the bitcoin users are using bitcoin currency as a tool of investment and not as a currency. Because of this, bitcoin`s demand is increasing and so of its price. In my country we have many bitcoin exchanges but still more than half of country don’t know bitcoin currency. Use of bitcoin is increasing in countries where bitcoin have legal status.

bob123

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A lot of countries aren't declaring bitcoin as illegal. Most of them didn't regulate BTC yet, but its not forbidden (yet).
Bitcoin gets wider and wider adopted because people start realizing that they are able to send funds around the world
and store them in their pocket with ease. And this without having to trust anyone with your money.
As banks and governments are less and less stable a possible investement into a growing markt is seen as a solution.
And if this market is bringing an additional value to their personal lifes.. than this will lead to wider adoption and appreciation of bitcoin.

zoird

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S O A R . e a r t h

This year a lot of new people found out about bitcoin. And people are becoming more. And all these people want to make money! And increasing demand affect the price.

Aura

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The increasing popularity is caused by the media who like to cover Bitcoin in the news. Even if it's negative news coverage, then it's still attention. The human-being is inquisitive by nature so we like to explore new things. That's where a lot of the new Bitcoin users come from, also because Bitcoin is associated with increasing value, which is a desire that a lot of humans have from nature.

bling-bling

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Quote from: Nancy Lisa on November 27, 2017, 06:23:27 AM

Banking institutions, law enforcement agencies, business leaders, Governments and many others call Bitcoin ‘illegal.’
But then - Why is the use of Bitcoin increasing?

The use of Bitcoin is increasing because more and more individuals and establishments are now accepting Bitcoin as mode of payment. The increasing ads on Bitcoin is also a contributing factor to this giving it more popularity in the society.

Kprawn

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Look at the countries who declared Bitcoin "illegal"..... are they in any way or form economic giants? Most of them are 3rd world countries, who

has to protect their local currencies. {if they allowed Bitcoin, people would have abandoned their local fiat currency in favor of Bitcoin} We should

not be influenced by the protectionism of fiat currencies of smaller countries. Roll Eyes

Wulanayu

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Maybe because the community already understand the function, usefulness and feel the benefits bitcoin, what else the benefits obtained from bitcoin surely everyone is tempted to the results that can be obtained from bitcoin.jadi not close the possibility of every day more and more bitcoin users increase.

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Quote from: Nancy Lisa on November 27, 2017, 06:23:27 AM

Banking institutions, law enforcement agencies, business leaders, Governments and many others call Bitcoin ‘illegal.’
But then - Why is the use of Bitcoin increasing?

Not all of them call it an illegal currency as someone with a habit of reading and understanding things learn how really bitcoin works and the technology behind it which is blockchain, one of the main reason is because they did not truly understand the cryptocurrencies, just because they heard it woah it so volatile and anonymous, how can i trust that coin then they tag it as a scam, sad to say but they stop from that feature never bother reading the white paper nor study the cryptography just call it a bubble or a scam.

Then why it keeps on increasing while others bash and tag it as an illegal or bubble coin?the key answer is the big supporters, some of the example supporters, are John McAfee and bill gates, they are smart people because they've learned and supports btc till now they are just an example actually there are a lot of big personalities who support it and the big community here that keeps on hodling and believing.

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Quote from: Nancy Lisa on November 27, 2017, 06:23:27 AM

Banking institutions, law enforcement agencies, business leaders, Governments and many others call Bitcoin ‘illegal.’
But then - Why is the use of Bitcoin increasing?

I don't think where you got that information, but very few countries consider bitcoin illegal. Most of them don't have a position, and some of the most developed ones, that are of course the ones to follow, are regulating bitcoin and making it possible for the coin to evolve. Japan is one of the best examples of this, but you also have Switzerland for example. Check this list, so you can have an idea of what is really happening:

https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory

So basically the use of bitcoin is increasing, because the most developed countries are also slowly accepting it. The ones that consider it illegal don't really matter to be honest, because they are not good examples and no one really cares about their politics.

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The blockchain is a very unique piece of technology which is now being embraced by universities and other sectors and this is creating a hype for Bitcoin which is increasing the value.

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Quote from: Nancy Lisa on November 27, 2017, 06:23:27 AM

Banking institutions, law enforcement agencies, business leaders, Governments and many others call Bitcoin ‘illegal.’
But then - Why is the use of Bitcoin increasing?

I don't think it's the use of bitcoin as it is that's increasing right now but the demand. The price shooting way up is caused by people riding the trend and wanting to profit. Its good for btc though as that will open people up to the other uses of bitcoin

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