Topic: Will Bitcoin ever become a widely adopted global payment solution? (Read 967 times)
August 10, 2021, 03:50:49 PM
I am very optimistic and feel that this will happen but to get to the process of a widespread adoption of bitcoin it would take a long time and some recognition from a sovereign country such as the United States of America, which has such a strong influence in international circles if the adoption is from a sovereign country. If it exists then it is not impossible anymore that bitcoin will become widespread adoption among the global
August 10, 2021, 12:40:37 PM
It would be too optimistic to say that Bitcoin is going to be the global payment solution. Bitcoin has a big hindrance in front of it. And that is volatility. As long as the cryptocurrencies are volatile, neither Bitcoin nor the other cryptocurrencies can be the global currency. Jusk ask governments whether they would even think of making Bitcoin their main currency. Most of them would say no. Because they wouldn't trust a currency whose value is fluctuating all the time. If we talked about stablecoins, I would say that they had more chance than Bitcoin to achieve it.
August 10, 2021, 12:00:11 PM
Bitcoin got into existence as a alternate payment processor, but when time passed it gained importance on multiple needs. At the beginning due to its anonymity it got much used on illegal needs. Later its increased usage is found on the gambling platforms.
At one point it experienced a massive transition from these levels of usage to a trading asset and as an investment. All this has made bitcoin a much praised investment than a payment gateway. With time we can see increasing usage and level of acceptance. Maybe by that time it can get importance as widely adopted global payment solution.
At one point it experienced a massive transition from these levels of usage to a trading asset and as an investment. All this has made bitcoin a much praised investment than a payment gateway. With time we can see increasing usage and level of acceptance. Maybe by that time it can get importance as widely adopted global payment solution.
August 10, 2021, 11:53:12 AM
will bitcoin become a global payment solution that is widely adopted,?? in my opinion this is no longer in doubt, actually it is in the process, to go to global payments that is widely adopted, we are just waiting for when it will happen, if we see development of bitcoin, we can say in the next few years all of that will become a reality...
July 19, 2021, 09:21:43 AM
To be a widely adopted medium of exchange and global payment solution is very possible. Because it is starting to happen now. And the number of people who are adopting it and using it was increasing.
But I think it will not going to be the main and only medium of exchange globally. Though many countries adopted it but there are still some countries who didn't. Some ban it and the other still have no idea how it works due to a lack of information and resources. And also its volatility can make it hard to adapt easily.
But I think it will not going to be the main and only medium of exchange globally. Though many countries adopted it but there are still some countries who didn't. Some ban it and the other still have no idea how it works due to a lack of information and resources. And also its volatility can make it hard to adapt easily.
July 16, 2021, 03:23:34 AM
Yes because that's the one true goal of bitcoin in the first place, to be a payment option that removes third-party to decrease payment and provide privacy to online channels. It will probably take a long time before it can be realized though because countries are still on the fence on what to do with cryptocurrencies which is a good thing for the people because most of them won't be taxed for earning in cryptocurrency.
July 16, 2021, 02:56:19 AM
Okay, let's take a look at how the market changes from $0 to $30k price. From a single user to now at millions of who adopts the market.
Common man , it is 60k first before falling to 30k back again 
Quote
We are apparently moving continuously, it wasn't so fast to see the increase of Bitcoin users but as we can see, we are improving little by little and from that number, we possibly multiply it several times in the future.
10 years passed and we had reached a thousand multiple growth , so what about in the next more 10 years? at least a Million multiplier?and this is not impossible as what we have already seen in the past.
Quote
And to be considered as a global payment system, not too far from possibility as the chance is not 0%. We can't tell when nor we can say it won't. We can just find it out in the future.
and that is why Market is healthy because there are no permanent things in the market but only Changes . 
July 16, 2021, 02:03:01 AM
Of course this will be a question of something like that will happen, we can only hope because at a time when.there are many rejections from various countries.against bitcoin, the adoption.process that they will do is very unlikely.to happen instantly.like we turn the palm of the hand, All of this, of course, requires.a very long.process for that
July 15, 2021, 10:46:20 PM
Okay, let's take a look at how the market changes from $0 to $30k price. From a single user to now at millions of who adopts the market.
We are apparently moving continuously, it wasn't so fast to see the increase of Bitcoin users but as we can see, we are improving little by little and from that number, we possibly multiply it several times in the future.
And to be considered as a global payment system, not too far from possibility as the chance is not 0%. We can't tell when nor we can say it won't. We can just find it out in the future.
We are apparently moving continuously, it wasn't so fast to see the increase of Bitcoin users but as we can see, we are improving little by little and from that number, we possibly multiply it several times in the future.
And to be considered as a global payment system, not too far from possibility as the chance is not 0%. We can't tell when nor we can say it won't. We can just find it out in the future.
July 15, 2021, 10:33:06 PM
There are many new users using Bitcoin, and more people around the world will use it in the future. The traditional payment system has been developed for a long time, and Bitcoin can successfully compete with it in just a dozen years. Bitcoin's transaction volume and liquidity continue to increase. It is decentralized and can be traded freely all over the world, the large international transaction costs are low, and its development trend is increasing exponentially. Bitcoin’s Lightning Network technology will also increase its appreciation potential, it will take a long time for Bitcoin become a widely adopted global payment solution.
June 19, 2021, 09:29:58 AM
If things remain like what it is now, i guess it's less likely that bitcoin will be used as a global payment or global currency used for transaction. Let's see that now, there are still few that accepts bitcoin as payment, and there are still issues such as high transaction fee, and long time too. Bitcoin is still inconvenient as a payment method, however bitcoin is going loud and strong as an investment. People are saying keep hodling, and most people do not want to use their bitcoin, so bitcoin will just remain as investment or asset for now, not as a currency that will be used as a payment.
June 19, 2021, 09:26:54 AM
There is a possibility that bitcoin will be widely adopted as global payment solution but it will takes time to happen. Maybe 5 to 10 years from now because the problem is that, not all people are using or know how to use modern technology to access bitcoin. Another problem is the volatility of bitcoin. Although bitcoin has an advantage and disadvantage, I still agree for it to become a global payment solution.
June 19, 2021, 09:09:32 AM
Satoshi envisioned Bitcoin as a Peer-to-Peer Electronic Cash System. While it can and has been used for payments, its use as a medium of exchange has so far been very limited.
It has moved from being a collectible to a store of value. Will it ever move to being a widely adopted medium of exchange and global payment solution?
everything has the potential to happen and in the future Bitcoin maybe adopted as a global payment en masse...It has moved from being a collectible to a store of value. Will it ever move to being a widely adopted medium of exchange and global payment solution?
the number of people entering the crypto world is increasing every day and this shows how many people are interested in Bitcoin and Altcoins. the government can do nothing when it is done en masse by the public, Bitcoin is the best solution for our current bad financial system.
June 19, 2021, 08:53:49 AM
The lightning network is playing a big role in the adoption of BTC. South America is leading the adoption this time although there are several countries before them, their declaration seems to be covered by the media. It may not really be adopted widely due to some countries developing their CBDC. Even if its just half of the world population are going to be using BTC, its a big success already.
June 19, 2021, 07:49:53 AM
Of course we can't say for sure whether bitcoin will become a very broad payment, but this is not impossible considering the increasing demand for bitcoin. With many companies investing in bitcoin
June 18, 2021, 06:51:53 PM
I think it is already adopted as a payment tool globaly. Although Bitcoin cannot be used as a payment tool in some countries, there are many countries that allowed it. It needs a process and takes time to make other countries considering to use Bitcoin as a payment tool as well. With some good news about Bitcoin, I am sure the adoption of Bitcoin as a currency will be better in the future.
June 18, 2021, 06:27:43 PM
Widely adopted? maybe we wait for another decade to see where it was because for now, we are just about to start.
Slowly, Bitcoin becomes widely accepted ( that is very hopeful), it surely will come once the banking system and the government are voluntarily giving their support. The community just to wait for it, I believe they are. Only we need to wait for the legalization of Bitcoin as a currency and that was a stepping stone for faster adoption.
Slowly, Bitcoin becomes widely accepted ( that is very hopeful), it surely will come once the banking system and the government are voluntarily giving their support. The community just to wait for it, I believe they are. Only we need to wait for the legalization of Bitcoin as a currency and that was a stepping stone for faster adoption.
June 18, 2021, 06:12:59 PM
We are not really in that phase yet where digital money can be used as a payment tool in most of the transactions, but soon, we will.
Hoping that people will see the advantages and importance of bitcoin in our daily lives especially that it has really a value in the market.
~
like evolution. This process takes time and stages that are long enough for the community to really adapt to the changes. lately more and more payment-related companies are opening up access to crypto, which is a good sign. although it is undeniable that there are many pros and cons, bitcoin is full of controversy, but it really provides a solution to today's financial problems. unlimited freedom, without complicated administrative processes, we can send money in crypto quickly anywhere. it's only a matter of time. Hoping that people will see the advantages and importance of bitcoin in our daily lives especially that it has really a value in the market.
~
June 17, 2021, 03:26:47 PM
Probably yes, but there are some disadvantages on the Bitcoin side which is confirmation time when the Mempool gets congested. If Bitcoin transactions reaches 200K or more the transaction fee hikes upto 50 dollars which makes bitcoin to be used in day to day life more difficult but the adoption is happening slowly as a form of investment but only time will tell that will be going to be used as a form of payment in the future.
And this is why Lightning Network is on the works or still under development when it comes to patching up the flaws of bitcoin in terms of block times and cheaper fees and faster confirmations.But honestly the network isn't always clogged up for us to mind off about that manner.IF we do look back the fees were cheap almost a week now since the mempool is almost empty.
Why would make out questions if Bitcoin would be a global payment solution if the adoption of it is gradually increasing?
June 17, 2021, 02:44:46 PM
I think it's obvious that yes, although not as soon as we all would like. The problem is that no one wants to part with the power of money that is printed by the central banks of the countries of the world. Although it has long been clear that such a financial system is in a deep crisis, these countries are in no hurry to part with such levers of influence on society and the economy. Competition is only intensifying and the multipolar world is pushing these players against each other even more strongly and actively. It would seem that this is the solution - but I do not see a serious consideration of this issue, perhaps nowhere.
Jump to: