Bitcoin Forum

Hi all. What do you think about this idea - is it possible to actually use crypto for daily payments?
read on medium (https://medium.com/@storywritter88/how-will-cryptocurrencies-enter-the-real-economy-sector-f816ce2353fb)

give your opinion

Right now, no, they're not accepted in enough places and it doesn't make it a possibility. In the future, definitely. The biggest roadblock right now is volatility and that should decrease in time. The technology is there and it's proven it can be a better and cheaper alternative as long as scalability issues are resolved.

Ok so that appears to be some naive article. If someone is accepting cryptos over POS, obviously thats their way of making cryptocurrencies.They are not changing the world. And never will the government of any country allow some cryptocurrency to surpass their own existing money. They will for 100% sure issue some rules and regulations over the functioning of these cryptos.

And about cryptos being used as normal moneg and not as speculative investment and gain tool, I would say that if thats tha main motive of bitcoin, whats wrong with your credit card and debit card? They are digital aswell, they allow you to carry just a card and not a whole lot of cash. Why bitcoins  or any other cryptpcurrency in the first place!!

Cryptos or for that matter bitcoin came i to existance not just because it is digital, but because of the phenomenal system it has in the background which is the blockchain mechamism. The fact that bitcoin would never face inflation, that it is decentralised and is irreversible are the features that make bitcoins distinct and different. If it was to be used like any other money, there wouldnt be this hype in the market. Its the speculations that bring about profits, be it bitcoins or evem stock market.

the current state of crypto is in bad condition. some social media and crypto prices are currently falling. we can only hold it. I think we do not need to add more investment in crypto, we better wait until its price can be recovered.

I don't agree. This is the moment to sustain the market, the price is low and you can buy bigger volumes of cryptocoins, we have to belive in it no matter the times.

This is a good topic in my opinion.

Seeing the bad situation that brought big changes to digital cripto money, this is very influential to the income we invest cripto money.

We lose a lot of cripto money because the price of cripto money is still down.

Unlike if we see the news in the media, people argue about the use of cripto money.

For bitcoin use may be used as a daily payment tool in the form of bitcoin debit card.

It would be very beneficial if there is a change in the digital world tecnelogi about using bitcoin as a digital payment tool ..

And can also be used for other online payments, everyone will be happy with the development of cripto money as a digital payment tool.

And it's time for this world to grow for the advancement of the whole community in the world with digital tecnelogi which is very helpful for us all.

will help the development of the digital world that is very helpful for everyone in the world.

Perhaps the state government has also prepared new ideas for the advancement of digital money investments.
 
Many changes from yesterday with the development of future cripto money, hopefully this year to be better cripto money development future investment.

Thanks for everyone who has helped develop the future cripto money.

my opinion about the use of crypto as a daily payment tool does not agree, because the price is not stable, it is less appropriate when used as a means of daily payment. cyprto is more precisely our place to invest.

Do you even understand how Bitcoin works? Credit and debit cards are connected to your bank account. Every time you buy something, your account is checked whether or not you have enough funds to pay for your purchase. Everything is done automatically, everything is digital. Theoretically, bank could change the number of money you have deposited. Also, governments can decide to print more money without any coverage. Cards are really convenient in use but we have to think if the convenience is worth a higher risk of hyperinflation. Most cryptocurrencies have deflationary nature, they have fixed supply which can't be change unless the vast majority of network agrees.

I am of the opinion that using crypto as a daily payment tool is not possible for now, as there are still many people who do not know about this bitcoin, let alone the unstable bitcoin price.

for me, we need some centralized cryptocurrency for payments as a start. it will be a stepping stone for mass adoption of cryptocurrency including decentralized one's like others said one main problem of cryptocurrency is volatility many establishments won't accept it if it does not guarantee an increased profit or same, But if the price is fixed and more advantage compare to other wireless transaction many will adopt.

For crypto to be used as a payment the price has to be stable. No one wants to accept $100 of bitcoin as payment in the morning for it to be worth only $90 in the afternoon.

Volatility is not a problem. On many exchanges, there is a mechanism for instant deals. There's a price lower but at this price you can sell coins instantly. This is convenient for trading and will help the seller avoid losses from volatility. The main problem is the speed of transaction confirmation and its price. When the bitcoin price was at its highest point, the transaction price was about $ 50. How can I make purchases at this price? We don't buy houses or cars every day.

Theoretically, the purpose of cryptocurrencies is to replace banks and make deals easily for all over the world.
This concept faces several difficulties:

• Technical aspect: Some of these currencies can not be used as a daily payment method. eq(Limited network of bitcoin)
• Economic aspect: Many sites and governments do not directly support these currencies.
• Legal aspect: The laws are still being updated about these currencies

Right, many people doesnt know about this cryptocurrency. It cannot be use as daily payment because for now the situation were not certain. Other cannot easily use this crypto even in the future because of too many things unresolved to make it happen.

There are still many people who do not know about this bitcoin.I think that using crypto as a daily payment tool is not possible now, it is necessary to leave the price of unstable bitcoin aside.My opinion about the use of crypto as a daily payment instrument is unacceptable, because the price of bitcoin is not stable.

I think it is too early to make any conclusions, lets wait until governments consider if they accept, or they ban Bitcoin and what will happen to the economy. But I agree with the article author that people have forgotten about the true purpose of cryptocurrencies and turned them into trading and investing objects, this must be altered somehow.

That's impossible because people are more comfortable using fiat to trade goods and purchases, where everyone around the world there are many who do not understand current technology or are not concerned with this issue, it is still a long way to go, where there is still much to consider before going back to discussing like the thread you made.
does not mean it will not be realized at this time maybe the next few years can happen take time to realize it all.

My opinion does not agree, because most people are too comfortable to use paper money rather than digital money. besides the cryptocurrency price is very unstable, very difficult if used as a means of daily payment.

It is very possible for crypto to be used for daily payments. As the crypto world grows each day, its acceptance by people increases. I know of a school and a supermarket here which accepts bitcoins as medium of payment/exchange.

Seems like you didn't read the article, it all talks about the ability to use bitcoin on daily payments basis, not if it's being accepted or something like that.

The answer is simply Depends.
If the whole world will start using bitcoin for daily payments then we will have a problem because the bitcoin network is not ready to handle so much traffic, but on the other hand, if a small amount of people will use the network for making payments on a daily basis then it's going to work.


Bitcoin network can handle about 3.5Tx/Sec max at this point( talking about on-chain transactions), so anything beyond it is going to make transactions to be uncompleted.

No doubt Cryptos daily life use isn't possible till now because of high uncertainty in market. Some of the points in article are unclear and the writer have made more questions than explanation.
Anyhow cryptos are still treated and considered as digital valuable assets due to their unique characteristics but crypto lovers are anxiously waiting for the time when they can use cryptos in daily life instantly as digital currency without hurdles.

It is possible, but not with bitcoin nor ethereum. The high prices and slow transactions will not be ideal for merchants and customers to use these. Probably something like ripple is good since it is fast and cheap to use. But the problem with ripple is that it is centralized. However, there are less popular coins that can be used to do this. We just need a concensus with the public which one is perfect.

The largest impediment to bitcoin being utilized for daily payments appears to be transaction speed and throughput. Crypto's limited transaction rates and transfer fees may be two of the largest obstacles to the technology being embraced and aside from volatility, probably two of the main criticisms against crypto.

But not to worry. We might fix this.  :)

Bitcoin's theoretical maximum transfer rate amounts to around 4 transactions per second. There are critics who claim this technology can't scale. Well, here's one potential solution to scaling bitcoin. We could take bitcoin and make 1,000 different altcoin spinoffs from it. Each altcoin could achieve 4 transactions per second, giving us a total of 4,000 transactions per second to work with.

Maybe this is a dumb idea, I don't know. But all of these altcoins and spamcoins could be good for something after all?

Right now its not possible to use cryptocurrencies for daily payments but I am sure in the future more shops will accept bitcoin and other cryptocurrencies as a payment method because they are becoming very popular since their prices are increasing everyday. I dont think shops will accept payments directly from bitcoin wallets because the volatility of the price they could lose a lot of money after they exchange it to cash. I am waiting and probably is going to launch pretty soon a payment service especially for local shops, supermarkets and other shops that automatically exchanges bitcoin for shops in cash so that we are gonna be able to pay with bitcoin.

We are engaging in the technology right now. And as part of the growing economy, crypto is a useful way to pay our daily consumption and bill. In the near future, it is not anymore a big deal in using of bitcoin in daily payments. Bitcoin as well as other cryptocurrencies can support our daily needs and consumption. The innovation of technology will help for the payments and exchanges to become easy and available.

Base on that article, crypto is the new type of money. And if it's about money then there's sure economy that lies behind it. About your question if crypto can be used as daily payments, yes it can. There are many merchants, services and goods that you can avail through it.

I'm not sure about this one.

The trend is increasingly to use bitcoin as an asset, as well as a store of value, hedge against fiat currencies, and a currency for online payments, both of which is proving to be extremely effective so far. However, if you're talking about real life payments, I doubt it'll go mainstream unless bitcoin itself becomes the world's singular currency or something along the lines of that. Very unlikely in the near future, I'd say.

There is always a chance, but for now, BTC's uses are going to pretty much be limited to online. But as more and more people gain regular access to the internet I honestly do not see a problem with that.

It is very possible to used cryptocurrencies for daily payment and actually we are going to use it for this purpose in future. However, before that time bitcoin price need to be stabilize and price need to get better than were it is now for investors not to be dumping it.

With the rapid growth of cryptocurrencies and wide use of Bitcoin (as of now) it is possible that Bitcoin can enter into every section of the economy at any moment. It's just a matter of time now.

With current ecosystem hardly. Think long term and layers on top of bitcoin, ethereum or even new coins on blockchain might become accepted for daily transactions.

What I think? I think that this article advertises project Paytomat. :)
As for the use of bitcoin for daily purchases, I believe that bitcoin is not suitable for this role, it is more suitable for the role of digital gold, that is, as a means for preserving the accumulated capital.

I ll send it as gifts to my friends. At least It help our community to understand how crypto transactions work.

There are some cryptocurrency that possesses some potential to be a form of payment rather than a pit of pump and dump groups basically it is more into microtransactions pros rather than a fluctuating asset like the former cryptocurrencies, some platforms already implemented some features to use bitcoin as a form of payment, salary, utility transactions and more but it is lacking that our traditional fiat currency have and it needs to tend that feature in order to fully benefit.

Any coin can be used for everyday life, but we do not allow this to happen. Bitcoin is ready to become the first cryptocurrency to be used in trading. But to do this, you need to solve the scalability problem. The miners are not making concessions. They're only interested in their profits. For profit, they are even ready to destroy bitcoin.

Interesting article and I would like to point out before we can try accepting these currencies in our day to day, they need to be fungible at the rate of 1:1. Currently, I don't think Bitcoin has that due to the historical nature of where it got its popular roots (crime, drugs, whatever). Once we get rid of that stigma, and everybody is on board with the 1:1 equal fungible rate, then we will proceed to an area where we can accept Bitcoin internationally.

It all depends on the government regulations in each country. Japan and the Netherlands are two countries that have proven that bitcoin can be used such as fiat money that we use in our daily life.

More than enough ways are already out for using over the crypto currencies. There are at least two to three trusted names in the altcoin sections which are having the real estate ICO going on and thus we have that option available too. Are we using it for the daily payments ? Well sort of we are doing that. I mean its been long time and we have opened up many possible ways to use the tokens as means of utility token on the founding websites to avail the products and services available on their website. So it is one and the same thing if you have it from the real world or from the virtual world itself. Yes, all the way positive that we are having some good feedback from the crypto.

It totally depends on where you are and the level of adoption most especially by merchants in your country. If there are places accepting cryptocurrency in your country, then you can easily make use of it for your daily transactions.

If we are to look at it in a general way, we already know hardly will you see anywhere now where cryptocurrency is being generally accepted in a way that you can easily make use of it as a currency for daily transactions except for Japan which I heard a lot of merchants are accepting it since it the regulation news.

Yeah! We are all worried about the state of cryptocurrency presently and forgetting the future and how things can easily work out with adoption. So many merchants today are not collecting it for some reasons best known to them, but over time, this mentality will change.

Let's take a look at Japan for instance, things are gradually changing with adoption, you can easily see bitcoin ATMs, you can walk up to a store and pay in bitcoin and so on, if other countries do something similar, adoption will be huge and the volatility some people are referring to will be a thing of the past.

There are shops that accepts payment in cryptocurrency.  There are bitcoin ATM machines.  These are strong indicators that every day use of cryptocurrency is possible. However being a new technology and the fact that the government is struggling with control, it cannot be widely used as it is capable of. But there is possibility in the future.

I believe in the future of cryptocurrencies. They are sure to be used as currencies. But it is impossible to make a strong-willed decision. People need to get used to using them and they need to create the conditions for building the appropriate infrastructure. The issue of transaction speed and price has not yet been resolved. But it will be done. I believe that.

We cannot force people to believe what they do not want to believe, can we ?
The fact here is that everyone is trying to play safe with the high level of volatility in the market and it would take someone who really understands the main value (future usage) of bitcoin or cryptocurrency at large.

Not everyone does, and what most people are looking for is the quick profit. So far, we really do not have any real life usage much but I believe we are going to get there one day.

i also believe that, later cryptos can be used as a means of transactions in everyday life. but to be like that i think it is necessary there is a solution to the problem that has emerged, especially from the government

A lot of time will pass before the moment when the crypto-currencies will be an everyday means of payment. Most people are not yet ready for this. At the moment it is too difficult, it is necessary that people are used to electronic fiat money first.

The volatility is huge now because really there is no real life usage or some pretty much level of adoption right now, so it is something we should expect. If there is a real demand for it for daily usage, I do not think this would be a big challenge due to the high level of demand for it.

I believe as we move ahead, a lot of things will change anyway but right now we are just having some speculative assets in our hands and in the real state, no much use for daily payment unless you are lucky to hit some merchants in your country accepting it. Otherwise like many Asian country people, we all need to hold our bitcoins and wait for some merchants to start up.

Mabe some day it will happen, in my country still there is not many places, where you can pay with cryptocurrencies, maybe in few years.

The very reason why bitcoin is created is for this purpose. It make feel sad on how people look differently on bitcoin and what really is bitcoin for.

The price volatility right now is not even a challenge because if any merchant wants to still accept cryptocurrency, he can as well do it and convert it to fiat immediately even with some services like bitpay. We may not be where we want to be with adoption on that level where you can easily make use of cryptocurrency for daily activities, but I believe we will get there some day.

You cannot say bitcoin was created for serving only one purpose. If investment property was not actual plan of Satoshi then he might not have set limit of 21M coins and instead of halving he might have set to reduce the production of coins with every block rather than once in ~4 years.

Bitcoin is now 10 years old and I don't think that it is still a new technology since there is a lot of other new digital currencies. And I don't know if the government are really struggling to control it since it is a decentralized digital currency, no one can control it and I think people will like Bitcoin more as an anonymous and decentralized digital currency.

Technology always improve and we can using technology for our benefits. I am believe that blockchain technology can applicated on any bussiness sector. Right now, many project touching about energy power and others project. Technology and idea is powerfull thing to help people activities in the future I am believe

Bitcoin has been invented as a decentralize currency using p2p payment system without the use of middleman but due to volatility of bitcoin price this purpose has been change as more people will hold their coins in hopes that the price of bitcoin will rise in the future. Although some countries had been use bitcoin as mode of payments like Japan but making it in mainstream will takes time as this is subject to legality in every country. Let's wait how this technology works in coming years.

"Allright, most probably, cryptocurrencies will not enter daily life tomorrow but it is important to keep going into that direction and move closer to this moment. Blockchain technology is a breakthrough." This is taken from the article, this one is truthful, there are other good lines in the article too, worth reading for sure.
Its impossible to talk about real state of cryptos because its changing if not ever second then everyday, that is fast and its hard to keep track of all this changes, some ate hood, others are pulling crypto down. Like its written in the article wr are on good track, direction is goodvsmd that's important, many big things already happened, other big things waits for us, we need to be patient and wait for future to come.

wait until your central bank legalize this investment portofolio.and you will much merchant that accept bitcoin as one of their payment system.it just about time that will tell us.