Bitcoin Forum

Bitcoin is a digital currency.
Bitcoin has a limited supply.
Bitcoin is volatile.
Bitcoin always needs internet.
If government legalized and use bitcoin like fiat currency,to what extent it can be used? I just thinking that it was very difficult if ever it will happen someday especially for the young children's. Unlike in fiat currency even a two years old kid can buy in a store using it but if bitcoin,i don't think so ,even those old people who do not know how to use a cellphone,computer and other gadgets. It will be difficult for them.I'm just curious guys and want to know your opinion.

For me, it can be used as an alternative mode of payment. As of now, it's really difficult to replace fiat and it's much easier to make small payments using fiat. But bitcoin excels when sending payment across borders without limit, from anywhere, without having an intermediary that logs everything you purchase or transact. It's not the use case for bitcoin to replace small payments as of now because of slower transactions and volatility, but in terms of it being an investment and medium of payment for larger amounts is where I think it can be used.

With the development of bitcoin in the future im sure the development in the internet services and the government.
Bitcoin will be useful in the future in terms of money transferring and maybe payments for government services in the future.
Bitcoin and the blockchain technology that bitcoin uses has a lot of potential uses in the future, almost in every field that you can think off you can use those 2.

Bitcoin is following in the footsteps of gold. It will/has become a store of wealth, and will only be used as a currency for high value transactions in my opinion.

I think it could be used upto the extent to which we are using our credit cards today if scalability issues are resolved and people start to see it as a swift and normal currency i am Pretty damn sure that we are looking for some good adoption but mind me transaction times and transaction speed are still biggest enemies landed in between btc's success as a currency.

Sadly, the model of bitcoin being able to replace everyday fiat currencies and used to do everyday purchases like a morning coffee has faded away and no longer seems possible.

It's taken a much more investment based position and is more seen as a get rich scheme or a profitable but risky investment instead of being able to be used in everyday transactions.

Payment systems like paying with your phone/face/etc are way easier then using crypto-currencies and Bitcoin and it looks like it'll stay that way

Everybody can use something as long as they're familiar with it. You can argue that the old-generation might have difficulties with wallets and stuff like that, but we can also give them preloaded coins with private keys and addresses whom they can use just like fiat coins.

Of course, the coins should not contain too much Bitcoin because it's dangerous. In the end, it depends on your imagination and the available solutions.

other than what Jet Cash said(quoted below) the technology behind bitcoin can be implemented in other fields not just in cryptocurrency. bitcoin became the starting point for the technology, Blockchain,
to be known worldwide. bitcoin will be a valuable asset, more than just currency if the government fully embraced bitcoin.

millennial generation is now familiar with bitcoin, if bitcoin is legalized as a means of payment then it is very good in my opinion, but it is not possible before the payment instruments such as paper or coins just disappear, but added to the transaction tools namely paper money, coins and crypto , so if ordinary people who don't know bitcoin want to buy something, they can still use the banknotes / coins.

You must be kidding a little. You mean to say that kids are not really that smart that they can't adapt to the use of Bitcoin using their smartphones and gadgets? Hey, our new kids can even be more techie than their parents (that's us) and so using Bitcoin can be as a walk-in-the-park for them, just scan the code and you are free to go, baby! The only big problem is when they might not have any Bitcoin left in their wallet to spend. In fact, spending money digitally is more convenient than bringing cash or even bringing the plastic card.

With Bitcoin, you can be bringing a million dollars worth in your online wallet and nobody will know...just try bringing that in fiat money and I am sure that you will not have a peace of mind. We are already in a different era where things digital are transforming the many traditional things we are doing. Again, kids these days are technologically savvier than us. Just believe me.

In fact, the bitcoin now has many uses. All of us know that bitcoin is a digital currency that can be used in my transactions. As of today most of the online market star to accept bitcoin and they already added it in their mode of payment. The price of bitcoin is very volatile so expect the price will totally change in seconds. I wonder if in the next few years we will see a cashless society where we will only use cryptocurrencies like bitcoin in all our transactions.

That's why I only see bitcoin as an alternative currency if ever governments would legalize bitcoin, but not as the main currency. It can be used for those who prefer using bitcoin as payment but not required that everyone will use it. Since we all know that not everyone is capable of using bitcoin. It could also function as an investment.
The use of bitcoin will depend on how an individual will use it. Legalization doesn't mean everyone has to engage with bitcoin.

At this point of time the use of bitcoin can only be limited to urban areas since rural areas have less or no internet connection. Aside from that in third world countries where poverty is high illiteracy is high and hunger is one of the major problem. Given such situations the use of bitcoin will start at urban areas and will start to spread to rural areas as development will expand then bitcoin user will also expand. But given the fact that bitcoin is adopted and being mainstreamed otherwise all those things I have written will just be a concept without realization.

Hopefully the Lightning Network will make bitcoin even better than gold. Gold is a store of value but its use as a currency is non-existent. Bitcoin needs to be better than that. Otherwise this shitcoin spam will never stop. Every other new altcoin will always claim itself to be better than bitcoin. This needs to be stopped.

Internet is already a need these days. If there's no internet the bank will also has to go back to the traditional system and will have their deposits and withdrawals manually through over the counter and that will consume time most of their clients. And that's a trouble for those who are using their ATM. Can you see the comparison about your description about bitcoin needing internet?

So, if that worries you that even kids or an old guy is unable to use it, think again. We're at the early stage of adoption and questions like the one you have raised normally appears but eventually you will that they will be able to adopt it.

An example, this article was published since 2014 but look at these young girls: Forward-Thinking Lemonade Stand Takes Bitcoins (https://www.delish.com/food/news/a37765/lemonade-stand-take-bitcoins/)

Personally I don't have any problems buying coffee. no one is preventing me from buying coffee but I think you're hitting the nail on the head. Bitcoin is not viable for everyday use. It's best shot at everyday use will be if the Lightning Network is implemented or atomic swaps allow the everyday use to be settled on a lower fee blockchain.

The issue is that the fees have not grown in terms of the percentage of bitcoin, unless people manually set them higher, but they have grown in terms of USD. A 0.0001 BTC fee was "nearly free" for almost the whole BTC life cycle, but just recently become too high to send for low transactions. for use cases, I do personally use it for larger transactions that don't need to be instantly confirmed, and I also like the idea of salaries and other larger type payments using BTC, that are cheaper and easier than using banks and payment processors. In my opinion, bitcoin is a store of value. It can be used for large enough transactions that would make fees negligible

Bitcoin could evolve to find solutions to such problems by designing Bitcoin cards (like bank cards.) All the user has to do is pass the card through a reader and write a secret number then the transaction will be done.  8) 8)
Even the issue of Internet connection can be solved with techniques that allow the transmission of transactions to nodes connected to the Internet and the use of any type of communication.
Remember: paper money took about 50 years to prove itself, after 40 years we will become the elderly in that era.

If bitcoin is indeed legalized by the government, it will not be able to directly replace the role of fiat. Because of several sectors of human
life are more suitable to use fiat than bitcoin. And if it is true bitcoin wants to replace the role of fiat, change must be done in transition.
How good is Bitcoin and Fiat walking side by side first, after all humans can adapt then bitcoin can replace the role of fiat as a whole.
But the transition period will also last long enough can be up to 5 years in my opinion.

Okay lets put it that way. I dont think people will use it as a medium to pay for service or to pay for a merchant. Instead, majority will store it as an investment, because everyone knows that Bitcoin is capable of giving good returns in the future. Honestly, I said this multiple times, but I dont really see any better reason to spend your Bitcoin to pay for something except for mass adoption.

Bitcoins is actually very young and it's too early to start speaking about it replacing the national currency of sovereign countries and lots of countries have already legalized the use of cryptos in their countries to be used for anything,  right now we need major retailers to start accepting Bitcoins as a method method,  it would bring a huge boost to the current value.

One of the uses of bitcoin is a source of income to every individual. It could be an investment where return is satisfying. Also, bitcoin could use as payment; it could be an online payment or online transaction.

You don't need to worry about young children and old people because Bitcoin will surely co-exist with fiat currency in the future. Bitcoin is not created to erase the existence of fiat currency instead it give us an option on how we can spend our funds in a digital method. Humans have brain that works like a computer so I'm pretty sure that as time goes by they will learn how to use Bitcoin in a proper way.

As of today, others may not see bitcoin that useful but in the future, they'll be able to recognize what it can do to help them. Bitcoin doesn't have to replace fiat when it's been legalized. You know how gold works today? It has a value, it can be an asset but it does not mean gold are being used by children and adult to buy at a store. Bitcoin can work like that, but the difference is that bitcoin is digital.

Bitcoin still far away to be an attractive means of payment, all the complicated steps to use it isn't convenient to many people which is the obstacle today. Retailers and merchants have to cooperate with exchanges to convert bitcoin to fiat currencies. Bitcoin can be a medium of exchange but can't equalize to fiat cash.

if bitcoin is legalized directly by the government, that might not mean paper currency (fiat) can no longer sell and buy anymore because fiat money is money issued by the government and also the legacy of our ancestors, but if the government legalized cryptocurrency like bitcoin might make it very easy for many people to transact and shop for people's needs using their electronic technology.

Kids nowadays learn fast especially if the internet involves hence learning about crypto will be no problem.And if it does legalize by government I am pretty sure that this will be taught in schools so that children are now don't confuse to use this thing. However, I think were are not ready yet to accept bitcoin as a mode of payment across the world simply because there are some countries that have a lack of facilities to access the internet especially rural places.

Maybe you are right that technology is very difficult to teach by children, because this transaction is not as easy as using cash. It's also good, imagine letting a child do a transaction without the knowledge of an adult, it's scary. Based on research that children over 5 years are already very interested in gadgets, this is due to their environment. Technology is advancing and I think it only takes time to understand technology, this year people who are left behind in the technology aspect will find it difficult to be successful.

It could only be our supporting currency. It could still grow as a currency and as a mode of payment if the government will adopt it in the future. We can't deny the fact that it couldn't beat fiat being universal and physical currency but it could provide more convenient and instant transactions. It will be easier for the future generation to adopt and learn the proper usage of it as well since our technology is growing and developing continuously.

I think it will be more of another mode of payment or money transfers. If the government will legalized bitcoin then it will work like of Paypal wherein you can use it as a payment for goods and services online and if it will be used to pay at a store I guess it will be like bank cards wherein they have terminals that reads the code for bitcoin. However, I think government legalizing bitcoin is a bit impossible now because not all in the government is with bitcoin, I guess majority is against it so may it will happen in the future.

User-friendly interfaces will come. Bank cards and ApplePay were not seen simple at the beginning. Kids learn fast, older people gradually learn how to deal with technology.

bitcoin will not be equated with fiat I think its uniqueness with high exchange rates also makes bitcoin similar to the value of a diamond ,its use in the future be able to send on a large scale for trade between countries I think this very suitable unique payments through online

This is not a matter of not being prepared and indeed there are still many people who do not know about bitocin, especially in certain areas which are not supported by good technology and good internet networks.
and it still takes a very long time for bitcoin to be known by everyone everywhere evenly to convince them to be able to use bitcoin, and most people only know the name of bitcoin but don't know more clearly about the benefits of bitcoin.

how can you say it like that, all will be able to do if socialization is done first, but the right to do socialization for everyone is only the government, now our task is to make the government approve of the existence of bitcoin as a legal currency, so that it can happen ..

Correct
Wrong bitcoin only has 21million supply in which 18 million is now in circulation and another 3 million to be mined
Both are correct and indeed
Lol even 3 years old baby now know how to use internet and what does children do with money?parents are responsible for them so don’t make things difficult for us here,Bitcoin and fiat are adult thing and not a toys for children’s

That is actually a feature. 2 year olds should not be buying things in a store to begin with...

Legalizing Bitcoin doesn't necessarily mean extinguishing your fiat, you can probably keep using both in parallel. But suppose the fiat is killed entirely, i have an idea that, you can go to a shop/venue/whatever and purchase tokens in a machine with your bitcoins. Think amusement park, but instead of using fiat for the tickets, you use bitcoin. In fact you could buy them in advance and pay the lowest transfer fee, then your little ones could use them just fine in the rides they want to go the actual day.

This can be extended to anything, not just amusement parks...

You could also use some sort of card that could be refilled this way, not unlike what mass transport systems use in many countries. The elderly use those cards in those countries just fine (ie. Hong Kong).

Bitcoin is not volatile, its free. Price fluctuation is a good sign, it means freedom, and don't forget its limited, i will always tend to go up because the other coins are unlimited in supply.

It's true that Bitcoin has a limited supply and the price is very volatile in recent time, but in my opinion, is that Bitcoin should be used as the payment method because it's a digital currency, I think Bitcoin might be made for this reason, but due to some lackings, Bitcoin is not enough mature to become a potential payment method, like the internet access, network access time, approval time and low accessibility to the market, most important thing is that Bitcoin price is very volatile and unstable so business person doesn't get interested to use as payment receiver, but if the networking delay would be fixed then it will be a good method of payment in the coming days for sure. but the government approval is yet to be a matter of concern.

This is just an alternative payment just in case, As you said it would be really difficult for other people to adopt it because it requires Mobile Phone, Internet and bitcoin usage. And yet we do not know what the price of bitcoin will be as it is rising and falling which in turn affects the right price to buy in the stores. The price of bitcoin must be stable before it happens, And I think it's unlikely that it will happen.

Correct. Although bitcoin gets legality, I think it will only be an alternative payment. In fact, bitcoin is very volatile, as you say, of course, the seller is quite difficult to put up prices, especially for daily needs such as food, drinks, etc. Moreover, bitcoin is more effectively used as an investment tool and commodity trade, rather than as a means of payment. Except for certain circumstances and an agreement between the two, of course, we agree that it is more effective. There are still many obstacles related to facilities and infrastructures, including human resources that have not fully supported if cryptocurrency replaces fiat. More precisely complementary to overcome the limitations of each between fiat and cryptocurrency.

Bitcoin is being used as an alternative payment system. Also, it is used by most of the people as a long term investment since the value of bitcoin is volatile so it may rise or fall from time to time. People use bitcoin because they find it more convenient rather than fiat. Because you don't need to bring fiat. All you need to bring is your phone and you can shop and pay online or cashless. Sooner or later bitcoin will use in all payment method and many payment processors will adopt on this. It will well be known in the mainstream.

I agree with you in the fact that there are technological limitations for a significant number of people regarding the use of Bitcoin and cryptocurrencies in general, however, the new generations are much more accustomed to technology and when it is known that a system It is essential for daily activities, you learn, in addition the developers look for simplified applications that can be used by large masses without problems, so some years of transition are necessary to achieve that adaptation.

Thank you so much to all. I really appreciate each other's opinion and may it help to provide further information and answers to our questions  regarding bitcoin or other things that are going through our minds. Sometime we can't avoid to think about what might happen in the future  using bitcoin or cryptocurrency in general.Well,let's look forward to what will happen in future. :)

Bitcoin is being used in different ways these days. It was just a digital currency and an investment before but due to adoptions, it's now being used in multiple ways. Some merchants and online stores are now accepting Bitcoin. It's also being used in instant payment transactions and in paying our necessities. There are lots of roles waiting for Bitcoin when the massive adoption occurs.

If Bitcoin will be legalized in the future, it will reach the god tier level for sure, I think. It can already be used on many places like cafes, shopping from internet etc. . When it will be among the best currencies, we will see Bitcoin literally everywhere. :)

All your thougths about bitcoin is truly right and therefore children didn't know how to use bitcoin as mode of payment specially 2 years younger is a parent responsibility to provide the needs of child because at that age didn't know how to count even fiat money.

Have you imagined the fiat currency is being used alongside those debit and credit cards? When the time comes for BTC to be used, it won't be used solely but will be attached with fiat currencies which will make it easier for those who can't have access to it.

it will take time to reach massive adoption and just like there are unbanked individuals, there will be noncrypto individuals.
there will always be hesitations for the fear of unknown. not all people are conversant with computers or smartphones, so there will be groups of people or areas that will stick to their traditional payment methods. we cant blame them.
but i do believe as time goes by, the usage of crypto will be more versatile than ever!

bitcoin always needs the internet, that's a sure thing, because without the internet we can't access it. If bitcoin has been legalized in all countries of the world, and little children can use it, I think bitcoin is no longer antique, it could even be cheap, because it's easy to get it. and in my opinion it's not good too .. !!

Our technology is keep on advancing therefore your concerns can be answered in the future as it is also my concern in the first. All the what if, especially with regards to crypto currencies once they will overtake fiat and they become the main currency in the future.

But upon thinking, it can be solve in the near future and I am sure of it as our technology will keep on modernizing. Let's just see whether this will really happen or it is only a hope that will just fade if all the governments will interfere.

yes you are right therefore I always say fiat money will always be there even though the government has adopted blockchain and cryptocurrency and legalized bitcoin as a means of payment. because some of our society is not ready to use cryptocurrency and we also need infrastructure that supports cryptocurrency.

Bitcoin basically doesn't need to be printed as the sole purpose of cryptocurrency will not be met, in this case, if people want to have a fiat in cryptocurrency, they should consider using altcoins but not bitcoin as it will not provide a stable transaction for the people in a single country. In a sense that, they should have a currency which will should be stable for better transactions.

In relation to the topic, the use of bitcoin in addition is that, it can unify the whole world in one currency but before it can happen, they need to make the market price of bitcoin less volatile.

Of course they didn't need to eliminate fiat because not all the person can avail technology unless they give gadgets to the person who can't afford one.  There are advantage and disadvantage by digital currency.

Before they started to legalizing it, they need to solve the problem first so we can use it as we want.  It is good to have some store who can accept digital which can you can use your money without withdraw it.

So far as people can easily use PayPal and credit cards, the use of bitcoin by these group of people will not be a big deal. Most bitcoin wallets have the option where you can scan the wallet of others and transactions will be made. Once Bitcoin is fully accepted, this will not really be a problem. There will be much evolution of the bitcoin space which will make it more user-friendly ones Bitcoin is recognized worldwide as a digital currency for the transaction of goods and services. 

that is if the person has already a knowledge on using gadgets and on using other payment methods like you mention above  .
using bitcoin will be easier for them but what about those people who dont even have the gadget or the ability to go the school to learn a knowledge .
 do you get my point  ?  bitcoin is still be a big hindrance to these group of people . that is why we still have our fiats which is more easier to use than anything else  .

My sister can find cartoons on YouTube being a child at the age of one year. I think that this will not be a problem for accelerated children these days to use digital payments. The question is that the government will likely never accept Bitcoin, because it is dangerous for centralization, which gives power

really like that guys .. ?? did you see what about credit / debit cards, or ATM, internet banking. before that only applies fiat money. and now, most of it is digital. so when bitcoin is accepted in all countries. the use of bitcoin can be learned. even easier than ATMs, and Debit / credit cards. because it only uses smartphones and the internet.

I don’t know why we are bothering ourselves over issue that does not call for concern, the creator of the coin too has already out all these into consideration, which is why he specifically stated in his whitepaper that bitcoin is to serve as alternative payment tool, which means that the choice is yours to either use bitcoin over the internet for payment if you can or you use the fiat.

I think that we are just the ones that is blowing things out of proportion by thinking that bitcoin could become a global currency and send the fiat packing. It could become a global currency, but will always work hand in hand with cryptocurrency, so they are like brother and sisters that works towards the same goal, it is just that one is faster and cheaper than the other concerning transactions.

OP is pointing out that it will be hard for old people to use Bitcoin, but it is irrelevant. As our young society becomes older the use of cryptocurrencies will increase and it's a natural way of things that old people pass away. You can't expect them to know how to use all the new gadgets they did not have in the 60s and 70s but they don't have to. The advancement of technology is slow and usually people who are in their 60s when the technology emerges die before it becomes global. It was like that with cell phones who came out in the early 80s but became a normal thing to use even by children in the late 90s so it took 20 years for them to take over the market. People who were 60 years old when the technology came out. People like Warren Buffett will not live to see a global crypto economy.

If you are worried about how to use BTC and the usability, don't need to worry because with time people will develop better ways to keep and spend BTC
In a near future will be as easy as a credit card for example, remember that kids nowadays are using smartphones or tablets very soon

bitcoin is not a physical currency so it is a given that a 2-year-old kid can't use it. as for the elderlies, they will learn just like how they learn how to use ATMs and credit cards etc.. but since bitcoin
will only be an alternative method for payment(since they still have their own currency) it will only be an option for them if they want to learn it. and if the government gave bitcoin the same treatment
like their own currency? it will be used to the extent of how the citizen uses their own currency.

That's why I think Fiat is still needed even if Bitcoin will be used for a global currency in the future. For me, Fiat and Bitcoin are both needed because they have own advantages and disadvantages. We cannot leave Fiat because it will be efficient to be used in undeveloped regions. While Bitcoin will be very useful to support the need for fast and unhindered money transactions in developed regions.

I believe everything can be learned. Being curious about it is also the eagerness to learn about it. For those interested might as well willing to learn and study about it. Bitcoin uses are more likely transacted through internet. It will really costs a lot. But still more people are getting it because it really improves the individual's financial stability.

I use bitcoin for trading and investing only, still not available using as currency in my country I use to earn money with bitcoin investing and trading. I am very thanks full for my country give access for bitcoin investor to use bitcoin only for trading and investing assets because many country have not legal using bitcoin and banned for access to bitcoin website, not really hope for bitcoin become legal currency transaction if bitcoin have legal become investment assets.

Bitcoin digital currency can still be used to buy items in the game and some other places and some can even buy food and drinks using bitcoin payments, indeed growing bitcoin is a very appropriate choice but you can also use your bitcoin to buy anything you want so you don't need to use cash cash anymore to make transactions.

This is the reason why crypto doesn't really need to overtake the Fiat,
Fiat and crypto could both exist without replacing or destroying each other,
I just don't get why other people are eager to see crypto take over Fiat and be the only paying system that would live.

Bitcoin can be use to buy things in the internet and some website or companies accept bitcoin as a payment i think but there are limitations because it is not known to other people and its not legal to use in other countries

If we can think of possible solutions to help cryptocurrency do the job for fiats, it would be better. Since we need a unifying currency that will lead to better economic stability, I am pretty sure blockchain technology will make its way to reach people far from the technology itself. To make them know not just in using the cryptocurrency to buy products as well as to become more educated in saving it to a safer banks that they can consider their own.

Yes, this can happen but the days aren't close. In almost ten years of time bitcoin has achieved big growth and secured a separate place in the market. These things have happened just because it is decentralized. Further onwards the growth gets associated with more things, and in such a manner I believe the change, but it takes much longer time period.

The children would surely have a difficulty on using it as a payment method but there could always be a way to ease it.
If Bitcoin would be accepted and be used as a payment option surely there would be a wallet that could be used to send an exact amount and easily convert the crypto into Fiat so the consumer and seller wouldn't overspend.

There are many ways to use bitcoin we can use it to pay in online shop because some are accepting bitcoin and we can also cash it out so many can we do to bitcoin. Change it in cash and buy anything you want. This digital currency is very nice one to use and easy to cash out to make money.

I agree with what you've said. With the help of the fast-paced development of Cryptocurrency and Blockchain Technology, everything can be figured out and that would be a great help on using Bitcoin for different projects. I believe that we will find out something that will make use of BTC.

One thing that I really want is bitcoin can be used as hedging aside from being the commodity I mean you can secure your asset out there without worrying about the price drops or crash down. When its price becomes more stable those richest people will secure their money in it and the price will be skyrocket, bitcoin is perfect with its decentralization nature and I think it supposed to be virtual gold.

Bitcoin can be an option for a payment in every transaction that we are going to do. Bitcoin can increase the speed of transaction since it is now on the digital state. It will make the economy of the country to grow even more since digital currencies provides a faster transaction. The faster transaction, the faster the movement of the economy of a country.

Bitcoin is used as a payment method in many services these days. I often pay my hosting/ domain services by Bitcoin. Other people who have no idea about Bitcoin can still use it, just scan the qr codes to make any payments.

Based from my experience sending bitcoin transaction, even if it is digital and a new technology, its transaction speed is quite slow compared to fiats being digitalized, the moment we use bitcoin for daily transaction, is when it was already updated, and most of the people adopted segwit technology or even the native segwit upgrade. Which is in fact a better version of bitcoin, to send transaction faster, and to lower the transactions fees, but the most important is to reduce the consumption of electricity from the miners.

I never for once expect bitcoin or any cryptocurrency to be the main currency we are using, I can’t even imagine that happening, they are only going to be an alternative and not a replacement. Very soon a lot of countries will start creating their own cryptocurrencies, China is leading in this  and as soon as they release their own cryptocurrency and things starts working out fine, a lot of countries will start to do the same.

These cryptocurrencies are going to serve as an alternative and can be exchanged for the fiat we are using and there will be special wallets dedicated to them I guess, and as time goes on other wallets will be able to add them.

it might be difficult to make bitcoin a substitute for payment, and if that happens it will take quite a long time to get used to getting people to use it. and current rivals bitcoin rivals are cryptos made by a country but I am not really sure that cryptos created by a country will be able to rival bitcoins.

I think bitcoin cant replace fiat currency. Just like what he ssid, bitcoin has limited used.  It always need internet. Think about people who dont have intermet access how can they have it, how will they earn it.  Bitcoin is just another type of currency which can help us in financial need but cant replace what fiat currency whatever happen.

bitcoin is just an alternative, so you don't have to bother thinking about someone who doesn't have internet, then parents who can't use technology, because of course bitcoin won't replace fiat so don't worry about all that. bitcoin is used by people who understand technology.

It is not easy for bitcoin to be used like a fiat currency that can be used at any time and to buy all goods, because for countries that have not legalized bitcoin, payments using bitcoin are still prohibited. In addition, its use must always use the internet, and this will make it difficult for people who are not accustomed to using the internet.

but who on earth dont use internet yet ? we are now in the future and internet should now be cheap and accesible anywhere   . also bitcoin is the future of payment method    . now the use of bitcoin are now spreading like  a wild fire but not just this time ,  but sooner or later all of the countries were suppose to be using a bitcoin on thier daily lives  . people should evolved too as much as the technoology evolved so that it would look cooler  and more civilized  .

As of now this is difficult but in future we can say that this is affective maybe around %80 because everyone is depending on digital technology that day, so for now we couldn't say it is too difficult or too hard to use. in many years technology is going to be easy and even 5 years old can use it.

Bitcoin will not just follow the footsteps of bitcoin but it will surpass its value and popularity. It has more chance to be worthy since bitcoin is useful and not only for luxury. Many people will also think to buy it because of its volatility. The development of bitcoin and the entering LN will give more value to its price.

Indeed technology continues to develop and makes everything involved in technology make things simpler, more comfortable and safe, especially in digital technology.
but if bitcoin completely replaces fiat in my opinion it is not possible for a variety of reasons that are not easily overcome, and bitcoin can only be used as an alternative payment such as fiat and both will go hand in hand to make ends meet.

One time computer or android phone operating was very difficult for us in my country. We do not know how to operate it. There is no infarstructure facilities here. Now it is very easy for us. As same when government legalized and use bitcoin like fiat currency before they will develop others facilities for us so that we can use it easily. Don't worry.

Yeah right, who doesn't use the internet/smartphone these days? Everyone even 2-year-old children are already smart using smartphones. So I predict that if later Bitcoin is legalized then everyone will easily use it as easily using a smartphone now.

In my own point of view, bitcoin is really not for everybody because not everyone could understand it's use and purpose in this world, and not everyone can use new devices like smartphones and computers. But bitcoin can still be use as an alternative payment method in exchange for goods and services.

In the era of technology that is increasingly advanced as it is now, everyone should follow the technology trend according to the times. Especially with the low-cost internet so people can use it to come into contact with bitcoin which can be used as a super-fast digital transaction tool. But for now indeed not all countries can accept the presence of bitcoin. Maybe someday, everything will proceed.

I disagree with that because literally bitcoin is for everyone, no matter if they understand it now or not. I mean everyone can understand how it works, that's not gonna be a problem. I mean it's true that not everyone can use the new technologies like elder people.

Hopefully in the future it can widely be use and more adoption can happen in bitcoin. The fact that not all people are not savvy in this technology but being aware in bitcoin they could easily know and understand. Bitcoin has many usage that we can use this as payment, but hopefully in the future more open in bitcoin.

All in all, bitcoin is a great way to pay, I reach out to anyone and everywhere where people have little brains, and they understand new technologies.
Fast, efficient, great price, these are the three things that money should have, and as far as I'm concerned, I wouldn't worry about my country passing the law, getting out the domestic coin, and using bitcoin as the primary payment method.

It can be used as an alternative payment but if you said that even a 2-year-old kid can use it then it is impossible because it is only online use and I don't think that a 2-year-old kid can use bitcoin to buy their candies.  Those who Doesn't know how to use gadgets then they should learn, because we are now lots of technology and we should know how to use them especially bitcoin.

Basically a currency a digital cash that we could use to buy something, Also we could use it as an alternative currency today comparing to fiat money it was not yet ready but it is now great for investment because of its volatile market price.

Maybe not today since there are people in the world that don't know technology like indigenous people. If the technology could reach them it is a good thing but for me, bitcoin is still for everyone.

in around where I live all children are good at playing smartphones and can even use the internet. it is not difficult for them to understand Bitcoin if it is truly learned. future technology may be even more sophisticated again so that Bitcoin can be easily used by everyone is including children. of course i believe in the future Bitcoin will be legalized by all countries along with its development of the technological age.

For me, Bitcoin is a currency which should be used for the payment purpose, It could be used for several purposes such as investment for the future purpose, Bitcoin is being used for the trading purpose, not only that but also Bitcoin holding could make money with the change of time, but Bitcoin price volatility is a negative thing for this platform but when if Bitcoin could get legalized in the real world then this Volatility could be decreased, But Internet connection is vital for getting connected with Bitcoin so it could be a great barrier for more flourished around the world.

Really? Because I don't think most of the people could wait for a long time for their transaction to be successful, payment in bitcoin is taking longer especially if the miners are busy and no one is confirming your transaction. You could be stuck up and that might force you to use other cryptocurrency when you are trying to use bitcoin for daily transactions. Imagine, if you are just loading gasoline and paying in bitcoin, would you wait for a long time before transaction is full executed? You rather not, so for daily transactions, bitcoin needs allot of improvement. For now, there are other altcoins to be use aside from bitcoin in this terms.

Bitcoin can now be a mode of payment but I often use bitcoin as for price appreciation and not for utility. The bitcoin is volatile and some people see it as disadvantage, but for me I see it as advantage and I use the volatility of the bitcoin to earn profit in a short period of time. Trading is risky but I can handle the risks and that is why I my winning rate is keep increasing. 

The main use of Bitcoin is to be used as a payment if we are buying or selling things around the world. In short, it is like our current monetary system but the only difference is it is used worldwide unlike fiat currency that you need to exchange it into another currency just to be used as to pay.

The only problem that I see in Bitcoin is the scalability of it. To be honest, people right now are impatient. They don't want to wait for a long time in things and this is included too. Although LN is being used already, it is not being used by many people but I expect that in the next years it will be used.

Isnt this one of Satoshi si goals in creating bitcoin ?

For some countries that prohibit bitcoin as a legal payment tool, users can still trade and invest in bitcoin in commodity markets which are also regulated by government regulations.

IMO, I am not sure that even though the government can legalize bitcoin as a legal payment tool, it can reduce volatility because market capitalization can still be affected by disruptive whale activities. They can play with the price of bitcoin because they have a large amount of bitcoin, and get more profit from it.

Right, without the internet I dont think that I can send a certain amount of bitcoin to others. Therefore, IMO if a place does not have a good and adequate internet network, then that place I think will not be suitable with bitcoin.

if a country or government supports bitcoin I think adoption of bitcoin will not be difficult. the government can provide information to the people about bitcoin and its use. and also the government can build infrastructure that supports bitcoin. and now we have lived in the digital age, some children and parents are now used to using gadgets. I don't think it's too difficult to teach them to use bitcoin as an alternative payment method.

It is the base and we need a long way to go to be a global payment.

Volatility is not that bad if you are a good trader and they thrive on the market situation when ever the market moves in either direction rather than a stable market and hence you cannot see it as a negative aspect, whenever the price moves down it will recover and we have seen that a thousand times and then is Internet connect a real issue in 2020, not sure about third world countries but i do not see it as an obstacle considering the amount of mobile internet users in the market globally.

Bitcoin helps us in many ways, we just need to discover and see the great use and convenience it has to offer to us. The world is missing out on its best hope and I think it's time we share it to all the people all over the globe. We cannot really say that it will easily solve the world's economic problem but we can be certain that it will make a change and it is mostly positive. Let us keep on making them knowledgeable about bitcoin so that they will regulate it and legalize it all over the world which will surely make a huge impact to the world's economic status.

Sad reality is the government does not prioritize cryptocurrency to introduce in the public even if they are accepting it and people may struggle in knowing the btc and other cryptocurrency and doubts are always there. Adoption is never gonna be an easy task for cryptocurrency it will take several years before we can say 90% of the people knew about or heard about btc.

in use if a country already supports bitcoin and crypto and also provides regulations then mass adoption will be possible in that country. Government support can indeed have a big influence on the development of this industry, although it will be gradual in its development but regulation can open the door for large adoption

You will be able to:

- Use Bitcoin in a matter of seconds instead fiat transactional delays for example.

- Store safe goods since the banks could go bankrupt and you lose your money.

- You dont need to take your fiat bills with you since it's all virtually portable.

There are so many things that you can imagine, just go by the book of what technologies bitcoin uses.

Since you are talking about here are my interpretation about the things you said

Have you heard about Netbanking .

Nationalized baking where your currency will be insured if you are living in a good country

It is possible with fiat and i highly doubt whether there is a solution that all the bills can be payed with bitcoin, which bills are you paying with bitcoin and kindly share me that knowledge about a site that is making it possible.

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Despite telling all this the biggest advantage of crypto is to have full control over your asset and not to depend on a third party and that  is the biggest benefit.

I don't think bitcoin is following the footsteps of gold, I mean it's probably that bitcoin is kinda stronger in value than gold, but the problem in bitcoin is only the high volatility of the price of it. I don't agree about saying that bitcoin will be only used for only high transactions cause it's also better for small transactions as we know the fees are literally less than bank's fees or any other real currencies's fees.

Actually the use of bitcoin will not be as difficult as imagined, because in this digital era at least most of the people in the world are online users and they are also familiar with online payments and other transactions which of course bitcoin has the ability about it. Old people or those who are constrained about the network, etc., I think it can still be followed up and helped in terms of its use when the government has set about related matters so anything can be done.

We are running in the 20th century and in this century younger ones are more technical than the younger ones. I do not think that children or old ones not able to use bitcoins would be a problem if even the governments legalize bitcoins as use of bitcoins is not that complex. Even there are a lot of digital wallets which are been used now-a-days so if peoples could use those digital wallets to make local payments, then why not they can use bitcoin wallets?

Bitcoin wallets can be revolutionized and can be made easy for use for all ages. Bitcoin transactions can also be fastened by increasing the miners and lowering the difficulties. So in a case when the government legalize bitcoins, we can find a number of ways to make it convenient for day-to-day transactions without worrying for the difficulties.

Bitcoin is having various uses like making transaction through the world with the power of blockchain hash and blockchain mining. in future also this blockchain technology will acquire the complete market and capture the complete Fiat currency Market.

As much as it pains me to admit it right now this is the weakest point of bitcoin, making a transaction that is no time sensitive is a great experience with bitcoin, if you have at least an hour then you can easily use your bitcoin to pay whatever you want, so bitcoin is great for transactions over the Internet in which you are not in a hurry, but when you want to make a transaction in which you only have a few seconds or a few minutes available then bitcoin shows that weak point.

Well 120 years is stretching it but 60 years ago Internet simply did not exist beyond a few universities exchanging emails. Internet only started coming to people's lives around 45 years ago. Already, there are generations of people that have never lived without it.

Warren Buffet and Donald Trump are in the same wagon, they made their money the old fashioned way, when things were so different.

Technology is also improving at such an accelerated pace that even things their parents used are no longer available for their children. Cassette tapes anyone? Those "react to" videos in youtube with kids reacting to (used to be) common things from the 80ies and 90ies are hilarious but also condemning (ie. a telephone).

Some of you may have even forgotten about analog tv (you can come visit my country if you feel nostalgic about NTSC).

The world saw Bitcoin born in 2009, and there is no turning back. Finally a coin that does not lose value overtime, outside the manipulation of the State and the few. Something that you can use online, and is secure. finally the ideas theorized by the Austrian school of economy can be put to use, and we are only going to see the beginning.

I can imagine a bit how Tesla felt in the beginning of electricity, and how his alternating current changed the game, forever.

jostorres: No we are not, already been 20 years in the 21ist century...

It should be easy since everyone uses a phone these days and just look at how many people of the total population are using FB. People are more tech-savvy than ever before. I bet I could teach a 2 or 3-year-old how to use bitcoin. They just won't be handing something physical over but rather digital and is easier for a child to grasp that concept than an adult.

The most important feature of Bitcoin is privacy. People do not want to account for another institution while investing in one place. We can call it a natural deal. Of course they can use it to finance bad business. But don't you use dollars or gold for bad things?

It is one of the problem in terms of the usage of the bitcoin, there are people especially the old ones cannot use smartphones and any gadgets. They will still use fiat because for them it is more convenient. There is a time that I explained the bitcoin in my grandparents and I am not surprised because they really did not understand what I said to them. The problem can only fixed through the raising of awareness where the people will get knowledge about bitcoin.

Bitcoin is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator that can be sent from user to user on the peer-to-peer bitcoin blockchain network without the need for intermediaries.
In the current state of Bitcoin, I believe that the only substantial use case that it has is a store of value, similar to gold. It is a speculative asset because it has no practical value outside of the fact that there is a promise of future value. The majority of people who have Bitcoin hold it for that promise, while a few may transact short-term to hedge against that bet.

Bitcoin is not a decisive winner over fiat. It’s the fiat in which the value of bitcoin is measured and the world is running on fiat for centuries. An unbiased analysis of bitcoin clearly indicated that bitcoin is still very novice and is not in a position to compete with fiat. 
OP has written one key benefit of fiat that even 2 years old kid can buy stuff using fiat which is not possible with bitcoin.

Bitcoin can be an asset, like an investment or stocks. For me the primary use of bitcoin is it's for investment, bitcoin is not user-friendly, it takes I think a day or even weeks to learn how the blockchain and bitcoin works and how is the trading works. Bitcoin is just for technology-literate people, just like what you said, not all can access it. And for me, I think bitcoin should not be compared to fiat that you can spend it everywhere. Just imagine gold, you can't buy things using it, but it has a value, same with bitcoin and other cryptocurrencies, you need to convert it to fiat first, before buying and spending it.


Just think bitcoin as stepping stone for something bigger, today we can't use it as a medium of exchange, but in the future, I believe alts will be invented that will replace bitcoin and will satisfy all of the features that we are asking.

I think government legalizing cryptocurrency to be used as fiat currency is still a long way off, if its going to happen at all. That being said crypto can still be used for your day to day spending habits the same way you use fiat. This is made possible by products like Taps  (https://www.tap.global) prepaid card. Not only can you spend your cryptocurrency the same way you use fiat but it is also as easy as swiping any regular debit card so it is not particularly more difficult than spending fiat.

Bitcoin is important in lots of ways and it’s being used for a lot of things. Everyone has their own purpose they started making use of cryptocurrency. First thing that attracted me was to use it as a transaction method since PayPal doesn’t work for me where I live.

As time goes on I got to know more about it and then I started investing money. The coolest thing is that transactions are fast and you don’t really have to pay much. I started making use of Ethereum recently to send and receive money and I have to admit it’s really fast and the fees I pay is far less than what I pay for using Bitcoin, but they are all still good.

These are the realistic opinions about the Bitcoin,and it is also that world can not be a smart global village full of latest technology but the point is that if any government allow the the BITCOIN for its people as legal medium of exchange the major cities having all facilities can benefit from it and the remote ares where internet is not possible in future it will be covered.

I am totally in favor that government should legalize the crypto that new generation came in race to the rest of the world.

Everyone is comfortable with legacy systems. Those who grew up reading and writing letters through postal services find it very hard in the start to shift to email and other new services that followed. Same is true for Bitcoin, with time we will find bitcoin easy to use. All Bitcoin need is time and our attention.   

We can't blame them if they will are getting hard on adapting the new environment on currency which is the digital currency as well as the cryptocurrency because at their time they don't have any advance technology especially right now that the internet is the one who are controlling on it in which we can do all things through the used of internet and computers, using digital currency like bitcoin we will be able to make transactions easier than the normal state of it but the elders are getting hard on it but all we need to do is to take some time for them to be familiarize on the new technologies that are evolving around us.

The usage of bitcoin can't be limited, it is a multi-purpose asset. Bitcoin as a value transfer token has further got to be a transaction asset. Earlier it was much preferred for darkweb needs and gambling. Further with the growth bitcoin has evolved to be an investment asset that has helped in large scale transactions that can't be done with traditional banking process. With time the technology improvement gives more usage to bitcoin.

IMHO, facts are opposite: one third mom-and-pop businesses in US accept BTC as payments

i agree bitcoin just need time and adoption
as of now its still hard to use bitcoin because the price is still not stable thats why many people is afraid to leave their comfort zone
but in my opinion, the price of bitcoin will be stable in the future when the rewards of block become so low due to halving

One of the greatest challenges of bitcoin is not to teach people how to use it, but it is to teach people to follow practices that keep their coins safe, each year there is a significant number of hacks in this market and all of that happens with just a few million users, what do you think it is going to happen when the majority of the world population adopts it? Hackers are going to take advantage of people like never before and we have no way avoid that.

As digital money the main purpose of bitcoin or the reason why it is created is as a currency meaning it has its value and we could use it to buy something its only different from the traditional currency or fiat money is it digital assets which mean it doesn't have any physical form. Also as the market price of bitcoin increases and because of its volatile price in the market the bitcoin also becomes a great investment.

As a currency, the bitcoin is still not ready but as an investment, I think it is already profitable since the market price volatility you could easily do buy low and sell high strategy to gain profit in bitcoin or make a hold for a long term investment.

technology is becoming increasingly sophisticated in the future, and in the beginning there were many people who did not know what bitcoin was, and now there are many people who know what bitcoin is and what bitcoin is for, and about children or parents who do not know to understand computer or cellphone or other gadget that you are worried about, and will later understand, there are now many children who already know how to use a cellphone, and now indeed Bitcoin can only be used for shopping or buying goods only in  countries and stores certain, but there will be more in other countries will use bitcoin as a means of payment and others.

Like all currencies or assets, bitcoin's value is driven by the amount that individuals are prepared to pay for it. Whether that's the "right" valuation, and also whether bitcoin is really well worth that total or perhaps not, is mostly done to opinion.

JPMorgan employer Jamie Dimon recently labelled bitcoin a fraud, and also said its astronomic increase in value is a text book financial bubble much like the Dutch "tulip mania" of the 17th century, that saw speculators drive up the cost of just one bulb to 10 times the yearly wage of an experienced individual - before rapidly losing just about all of that value.

Speculation has fuelled bitcoin's fast ascent in recent months, Rauchs states, but there are already clues that the cryptocurrency is transferring from the fringes on the web to the mainstream. He points to much more than hundred hedge money specialising in cryptocurrencies which have started not too long ago, triggering today's price surge.
CME Group, which has the Chicago Mercantile Exchange, in which trillions of money of derivatives contracts for global commodities are traded every year, now provides bitcoin futures. Some analysts say this's an indication that bigger financial players are prepared to enter the marketplace.

The amount of individuals utilizing the cryptocurrency has in addition risen from around 3 to 6 million in April, to between ten and twenty million folks at the conclusion of 2017, though specific figures are extremely hard to build, Rauchs says. loadmore... (http://www.elpfoodfest.com/)

but in this industry price movements become a place for people to get profits in them. if you expect stable prices it will be difficult in this industry, especially for bitcoin then the price will always change at any time. and I prefer to see the growth of bitcoin in terms of usage because if you look at the price it will always be unstable.

Sometimes I see Bitcoin just as an idea that was created to show the world how far we can go with transaction, and soon governments will start to adopt this method of cryptocurrency to create their own extra currency that will be used in place of the current system.

Although that doesn’t mean that there will be an end to Bitcoin, even if all other cryptocurrencies should die off, I believe that Bitcoin will continue to grow. There are already countries that are creating their cryptocurrencies which will be issued out by the banks, I don’t know how this is going to work out but I really hope to see them soon. Back to the topic and my answer for the real use case of bitcoin would be multiple things and not just a payment processor.

Bitcoin is not a digital currency, bitcoin is a crypto currency. They are different things.
Digital currencies are centralized, crypto currencies are decentralized.
Bitcoin is a crypto currency.
Credit cards and debit cards also need a network. They do not work without a pos device and network. So it is not something hard.

Very well said. He said that the bitcoin is a digital currency because we can only transfer and use it through online and we cant ever hold it in our hands unlike the fiat. What is good about crypto is you can bring it everywhere whenever you wanted to. Like for example you go abroad and you dont have a pocket money but you have a savings in any digital wallet. You can convert through the national.money of the country you have visit and it is less hassle.

There are actually lots of ways you can do when using bitcoin. Primarily, it is actually can become one of your way or source of income by such things as investing. It is really clear that investing can be one of the most profitable ways you can do because I do know lots of people who are really investing in some projects and getting their money back is twice or even thrice by how many they invested in. There are also a lot of people using bitcoin as a good way of payment method making any transaction safe and faster than paying in fiat. By using also their online or offline wallets. This is actually good for everyone if we actually adopt this kind of payment method but sad to say that there are still countries are banning cryptocurrency for some reason.