Why use Bitcoins ? - page 57. | Bitcointalksearch.org

chennan

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Quote from: VC George on July 19, 2017, 04:54:10 PM

Bitcoin is not only a vessel to store value but it's also really useful in the remittance industry. I can send 100,000$ paying a mere 4$ in fees with Bitcoin while it would cost me 3000$ with PayPal and I'd take some risk to do the paypal transaction while doing the same thing from a traditional bank would cost some money,time & would probably raise questions.

This is a major point of why someone would use Bitcoin over something like PayPal... the main benefit one gets out of using something like Bitcoin is that it is not susceptible to censorship. If someone wanted to make a better life for them self, come to a 1st world country, and send money home to support his/her family; then he/she doesn't need to rely on a centralized third party like Western Union to bone them on insanely high fees and possible censorship if they feel need be.

There are a whole bunch of other examples where bad things can happen if a third party censors someones spending and transferring of wealth.

dimastegar

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Small Trader

Why use Bitcoin? Because for myself, Bitcoin is easy to use, its security is high, can be divided into 9 digits, can be converted into local currency, and lots of investment land (like ICO, CloudMining)

Script3d

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Quote from: Wesimon on July 19, 2017, 07:20:51 PM

I agree, at this time, you cannot use bitcoin for paying groceries and other small stuff that needs instant payment. It is preferrably used for big transactions like trading and investments. Since bitcoin is volatile, it is more advisable if you invest bitcoin.

yes bitcoin wasnt used to pay groceries etc instead people use it to buy a large amount of sums or small , trade or sell it other used it too to hold bitcoin and waiting for the price to increase but it can still be used if the store decides to use bitcoin as payment if transaction fee wouldnt cost alot

Siren

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Quote from: Wesimon on July 19, 2017, 07:20:51 PM

Quote from: jorneyflair on July 19, 2017, 04:43:40 PM

Quote from: webcrypt on July 19, 2017, 11:24:51 AM

Why use Bitcoins ?

I keep seeing threads on “why don't people” ? The real question to me is Why would they ?

-The average consumer will go way out of their way to save money. Bitcoins cost more.
-The average consumer will usually pay a little extra to have convenience. Bitcoin is less convenience and more hoops and complications.

I just cannot see any reason for the average consumer to use Bitcoins. Until average consumers start using Bitcoins they will just be an experiment and a small speculative bubble.

I have my personal reasons, I am interested Bitcoins them as a tech person, speculative investor and person that follows evolving treads and markets. I am just struggling to see any.. benefits for the average consumer at this stage.

Bitcoin was not designed in the way you are describing it. Bitcoin was not made for people to use it to buy groceries and everyday spending with. It is meant as an investment option, similar to gold. Bitcoin is also fairly anoymous, especially if you use multiple addresses. Think of bitcoin as gold and compare them. They re both investments but Bitcoin has the abilibity to be spent online.

I agree, at this time, you cannot use bitcoin for paying groceries and other small stuff that needs instant payment. It is preferrably used for big transactions like trading and investments. Since bitcoin is volatile, it is more advisable if you invest bitcoin.

Correct. Currently with the fees problem, we cannot used bitcoin for micro payment scheme. It may defeat the purpose of bitcoin, but I honestly it will succeed once the high fee will be resolved. So bitcoin right now is for the big boys, specially in the field of trading and investment because the price is very high. Again, if the features will improved in the near future then bitcoin can be used to buy online or even in groceries. But that remains to be seen.

Wesimon

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https://gexcrypto.io

Quote from: jorneyflair on July 19, 2017, 04:43:40 PM

Quote from: webcrypt on July 19, 2017, 11:24:51 AM

Why use Bitcoins ?

I keep seeing threads on “why don't people” ? The real question to me is Why would they ?

-The average consumer will go way out of their way to save money. Bitcoins cost more.
-The average consumer will usually pay a little extra to have convenience. Bitcoin is less convenience and more hoops and complications.

I just cannot see any reason for the average consumer to use Bitcoins. Until average consumers start using Bitcoins they will just be an experiment and a small speculative bubble.

I have my personal reasons, I am interested Bitcoins them as a tech person, speculative investor and person that follows evolving treads and markets. I am just struggling to see any.. benefits for the average consumer at this stage.

Bitcoin was not designed in the way you are describing it. Bitcoin was not made for people to use it to buy groceries and everyday spending with. It is meant as an investment option, similar to gold. Bitcoin is also fairly anoymous, especially if you use multiple addresses. Think of bitcoin as gold and compare them. They re both investments but Bitcoin has the abilibity to be spent online.

I agree, at this time, you cannot use bitcoin for paying groceries and other small stuff that needs instant payment. It is preferrably used for big transactions like trading and investments. Since bitcoin is volatile, it is more advisable if you invest bitcoin.

webcrypt

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Activity: 42

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Quote from: TravelMug on July 19, 2017, 06:24:33 PM

Quote from: webcrypt on July 19, 2017, 11:24:51 AM

Why use Bitcoins ?

I keep seeing threads on “why don't people” ? The real question to me is Why would they ?

-The average consumer will go way out of their way to save money. Bitcoins cost more.
-The average consumer will usually pay a little extra to have convenience. Bitcoin is less convenience and more hoops and complications.

I think you don't understand. Bitcoin doesn't have more hoops and complications unlike traditional payment like Visa or Mastercard. If you want to used bitcoin. just go to a store that accepts it then just scan your QR code. Simply as that. Where is the complication there?

The complications are going to the store that accepts it. I have never in my life seen a psychical store that accepts Bitcoin.

Quote from: webcrypt on July 19, 2017, 11:24:51 AM

I just cannot see any reason for the average consumer to use Bitcoins. Until average consumers start using Bitcoins they will just be an experiment and a small speculative bubble.

They can used it as regular payment system. Its not an experiment. Currently, it is being used as investment or store of value. Although there are issue like slow confirmation time and high transaction fee, but again its more convenient against like WU or Paypal.

The question is WHY would they use it ?

Quote from: webcrypt on July 19, 2017, 11:24:51 AM

I have my personal reasons, I am interested Bitcoins them as a tech person, speculative investor and person that follows evolving treads and markets. I am just struggling to see any.. benefits for the average consumer at this stage.

If you don't see any benefits then why invest on bitcoin?

A couple personal future benefits I see in using bitcoin or a similar cryptocurrancy. Some are here now, most are still developing.

1- It could store wealth in the ether. I only need a small file encrypted with my keys in it. I could store that file on “the cloud” and access it from anywhere in the world.
-Much safer and easier then carrying around gold coins or fiat.
-It is independent of any commercial financial institution.
-Accessible from anywhere in the globe.

2-Transferring payments digitally and independently. I can transfer money directly to a person and not go tru a commercial financial institution.

3 Anonymity my payments are not being monitored, watched and recorded on a database. My financial activity is not being harvested and sold to a 3rd party that does not have my best interests in mind(only their personal profit).

At the current state there is no piratical reason for me to use Bitcoin(other then research). But I do see some great development going on and I do have some hopes for it.

These are my personal interests in bitcoin and crypto. I am wondering the billion dollar question WHY people mainstream people would use bitcoin/crypto ?

cengsuwuei

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#SWGT PRE-SALE IS LIVE

iam use bitcoin because can convert to fiat money
and my income incraese because use bitcoin, iam trading mining and follow signture campaign in bitcointalk

TravelMug

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Quote from: webcrypt on July 19, 2017, 11:24:51 AM

Why use Bitcoins ?

I keep seeing threads on “why don't people” ? The real question to me is Why would they ?

-The average consumer will go way out of their way to save money. Bitcoins cost more.
-The average consumer will usually pay a little extra to have convenience. Bitcoin is less convenience and more hoops and complications.

I think you don't understand. Bitcoin doesn't have more hoops and complications unlike traditional payment like Visa or Mastercard. If you want to used bitcoin. just go to a store that accepts it then just scan your QR code. Simply as that. Where is the complication there?

Quote from: webcrypt on July 19, 2017, 11:24:51 AM

I just cannot see any reason for the average consumer to use Bitcoins. Until average consumers start using Bitcoins they will just be an experiment and a small speculative bubble.

They can used it as regular payment system. Its not an experiment. Currently, it is being used as investment or store of value. Although there are issue like slow confirmation time and high transaction fee, but again its more convenient against like WU or Paypal.

Quote from: webcrypt on July 19, 2017, 11:24:51 AM

I have my personal reasons, I am interested Bitcoins them as a tech person, speculative investor and person that follows evolving treads and markets. I am just struggling to see any.. benefits for the average consumer at this stage.

If you don't see any benefits then why invest on bitcoin?

cafucafucafu

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Quote from: webcrypt on July 19, 2017, 11:24:51 AM

Why use Bitcoins ?

I keep seeing threads on “why don't people” ? The real question to me is Why would they ?

-The average consumer will go way out of their way to save money. Bitcoins cost more.
-The average consumer will usually pay a little extra to have convenience. Bitcoin is less convenience and more hoops and complications.

I just cannot see any reason for the average consumer to use Bitcoins. Until average consumers start using Bitcoins they will just be an experiment and a small speculative bubble.

I have my personal reasons, I am interested Bitcoins them as a tech person, speculative investor and person that follows evolving treads and markets. I am just struggling to see any.. benefits for the average consumer at this stage.

Like all other currencies bitcoin is a storage of value and can be used to trade and buy other items of the same value. Bitcoin is also super useful to pag fornthings in bulk since the transaction fee is usually the same while for other payment methods there wouldn't be a fixed fee. Also other payment methods will take longer than bitcoin, especially for bank transfer which can take up to a month, while bitcoin transactions finish within the hour. Bitcoin is also an investment option and can be used for long term investing.

hatshepsut93

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Quote from: coinenthu on July 19, 2017, 04:35:32 PM

Like what general investors in BTC have decided, its not meant to be used to buy groceries. Its a store of value

If developers agreed with that position, they would just stop working on scaling solution, and only fix some minor bugs. But that would make Bitcoin no different (except for amount of hashing power) from any altcoin, since they all have pretty similar structured blockchains and features that come with it. So, even if Bitcoin just an investment for you, you still should support changes that can one day make it a viable currency for masses, because that's what will give it the biggest value out of all cryptocurrencies.

VC George

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Carpe noctem

Bitcoin is not only a vessel to store value but it's also really useful in the remittance industry. I can send 100,000$ paying a mere 4$ in fees with Bitcoin while it would cost me 3000$ with PayPal and I'd take some risk to do the paypal transaction while doing the same thing from a traditional bank would cost some money,time & would probably raise questions.

jorneyflair

hero member

Activity: 672

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Quote from: webcrypt on July 19, 2017, 11:24:51 AM

Why use Bitcoins ?

I keep seeing threads on “why don't people” ? The real question to me is Why would they ?

-The average consumer will go way out of their way to save money. Bitcoins cost more.
-The average consumer will usually pay a little extra to have convenience. Bitcoin is less convenience and more hoops and complications.

I just cannot see any reason for the average consumer to use Bitcoins. Until average consumers start using Bitcoins they will just be an experiment and a small speculative bubble.

I have my personal reasons, I am interested Bitcoins them as a tech person, speculative investor and person that follows evolving treads and markets. I am just struggling to see any.. benefits for the average consumer at this stage.

Bitcoin was not designed in the way you are describing it. Bitcoin was not made for people to use it to buy groceries and everyday spending with. It is meant as an investment option, similar to gold.

Bitcoin is also fairly anoymous, especially if you use multiple addresses. Think of bitcoin as gold and compare them. They re both investments but Bitcoin has the abilibity to be spent online.

coinenthu

newbie

Activity: 30

Merit: 0

Like what general investors in BTC have decided, its not meant to be used to buy groceries. Its a store of value

webcrypt

newbie

Activity: 42

Merit: 0

Why use Bitcoins ?

I keep seeing threads on “why don't people” ? The real question to me is Why would they ?

-The average consumer will go way out of their way to save money. Bitcoins cost more.
-The average consumer will usually pay a little extra to have convenience. Bitcoin is less convenience and more hoops and complications.

I just cannot see any reason for the average consumer to use Bitcoins. Until average consumers start using Bitcoins they will just be an experiment and a small speculative bubble.

I have my personal reasons, I am interested Bitcoins them as a tech person, speculative investor and person that follows evolving treads and markets. I am just struggling to see any.. benefits for the average consumer at this stage.

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