Bitcoin Forum

The number one question I receive by friends after “What is Bitcoin?” is "What can I do with it?"

A few teams are working on a protocol that would add many innovative capabilities for Bitcoin users. It’s a decentralized sidechain called Echo, that aims to develop a suite of financial mechanisms and instruments.

We want to facilitate the development of applications that would make your lives as Bitcoiners more convenient. We will be hosting a hackathon soon with a few other teams in the industry to reward programmers and entrepreneurs with making the services that society actually demands. What application or service would be a value addition for you right now?  

If you want to read more about us
Site: https://www.Echo.org
Docs: https://www.docs.echo.org

The thing that I most like about crypto is being able to feed my family in my home country. They don't need to understand how it works, I just deposit to my father's bank account and he's happy about the quickness of it. Emergencies and such I always help and I know they appreciate my efforts, I don't know how I'd be able to support people in Venezuela otherwise (currently Western union and similar "worldwide services" don't work with Venezuelan bolivars)  so I'm thankful to bitcoin for existing.

I wish I could buy more of it so that I can invest more and wait for the beautiful future of bitcoin  ;)

The services that society demands would be developed in blockchain or will be apps made for cryptos like shop point, casinos and exchanges?

Is a nice start i will keep an eye in the project and waiting for that hackathon.

I'm not a very technical person but what it appears to me is that you are creating an essentially different network on top of Bitcoin's and then users will be able spend their BTC within this network using the DApps created on it. Is this a correct understanding?

If so, then what happens to the transactions? Are they also broadcast to the Bitcoin's blockchain per transaction? Or is this sidechain working like the Lightning Network?

Try to make money so you can buy more bitcoins. Bitcoin will have a good future, please wait and hope. I also have the same desire as you to make money from bitcoin. However, my financial resources were limited so I had to work hard in daily bonus campaigns to make money. But it is also very difficult, the campaign has a lot of requests.

Of course everyone wanted to be part of the 1 BTC club and I think that will be the ultimate goal for me. As for what I'm goinna to with it, probably hold and then accumulate more overtime. So for me there's no need for this kind of sidechain, we already have LN and Liquid.

Bitcoiners lives will be convenient if we know how to protect and safe guard it against hackers and cyber actors. So the best thing to do is to educate ourselves, simply as that.

Buying property directly with it.

That's the biggest purchase most people will ever make and the idea of having to dick with exchanges and banks adds a whole lot of time and nerves. Perhaps it will be commonly accepted in a few years but right now most sellers will still think you're a mad assassin.

In order to do that, you should invest first on something that will help you to earn profit, even a small businesses will do. After that, once you are successful to manipulate it and earn a lot of profit, that's the time where you should invest in bitcoin. Bitcoin has a lot of benefits once you own some, you just need to learn how to deal with the market, to deal with yourself, and to deal with those risks. I invested in bitcoin 4 years ago, and I already benefited from it and grow my business and help my family. Bitcoin will help you grow as a person and as a business-minded once you try to work hard to achieve your goals using bitcoin.

I wish I could use Bitcoin without having to exchange it for local fiat now and then. Paying the rent and for food are my key expenses, so that would be nice. It would also be great if I could provide information about my wallet balance when I need to prove I am financially capable of, say, going abroad, but that is highly unrealistic. I would want Bitcoin to truly be money rather than an asset, but that's not how the majority sees it and not something easy to achieve. The adoption among retailers is low, not to mention ridiculous fees and volatility from time to time. But these things cannot be solved by an app.

The same thing with me, if i will be given an opportunity to spend my bitcoin to essential things, i will choose real property and private property. Bitcoin can make you own anything once you have a huge profit from it.

In real property, it will make me more confident about the assets that I will make, especially the houses for my family. It is not that easy to buy a land property nowadays especially if you are willing to pay using bitcoin. The demand in land property is extremely high as some places are already like an urban area due to a lot of establishments and lot areas are decreasing.

I will also but private property using my bitcoin so that I can manage my business without paying other expenses like rents. Investing in private property is so worth it compared to those businesses that aren't owning their own land where they manage to start their business.

^ We all want these, humans ambitious are so endless. There is no limit to this ravenous yearning to fulfill ourselves with increasingly growing, that's what we are. But probably if I have a decent amount of bitcoin, not only the essential things that I want. I also want to generate my bitcoin holding, building a good business through bitcoin is a good source of income. Here in my country, there is a merchant store where you can sell or even buy bitcoin, a little lower fee than the exchange platform. Or probably a lender using your bitcoin, there are various things that most you want to use your own bitcoin because it is valuable and the same on our local currency that many things can do.

i wait for price rise and after from profit i buy more bitcoin :) ;) ;) :)

Well that's a good deal with bitcoin if it were able to buy a property.

What if most of people already know bitcoin and they are willing to accept it as mode of payment instead of fiat or check, would you buy a property given that the price of bitcoin is at $9000?
Ahhh if the time is now I might just buy it with cash, there's no way I'll spend my bitcoin with property though land value is increasing through years still bitcoin has the biggest shot in making it double.

As long as you work hard, surely something good will come. I like Bitcoin very much but having to pay bills makes me not have too much money to invest in bitcoin at the moment.
In such a situation I also try to participate in bonus campaigns to be able to earn an investment in bitcoin and cryptocurrencies, hoping that bitcoin will grow in the future.

Ideally, you should only invest in the cryptocurrency market the amount you are willing to lose. Everything is possible in the cryptocurrency market and most likely one day you will lose your money, make sure you will not be in debt for that.
Good luck

The extremely high and risky amount of bitcoin makes adoption of bitcoin difficult. There's a lot to think about. Bitcoin is currently only an asset and not as an alternative currency authorized by the state. Many regulations must be set for the use of bitcoin. But now there have been many adoptions of bitcoin to just buy coffee, fast food and more.
Bitcoin journey is still long, in the future maybe bitcoin will become increasingly popular and get a suitable regulation as an alternative payment.

The best crypto wish I hope for and will always hope for is more merchants thought out the world accepting crypto as cash or as means of payment, that's the definition of real mass adoption to me, crypto must work as money

For me it's paying on the go. Being able to buy meal at a restaurant, fuel for the car, paying bills and property tax.

It would also be good if I could buy goods that aren't luxury. Most retailers willing to accept Bitcoin are places like car dealerships. I don't want to buy a car there. A new car is one of the worst ways you can spend your money but for now there's not much choice that's why I hold and hope for the best.

I wish I could keep pilling Bitcoin and never get to spend it until five or more years later. Yeah, I know it's a pipe dream given the nature of man's wants and the paucity of funds. Besides, I also look forward to mass adoption and in the true sense Bitcoin becomes the internet "fiat", and not the money making asset people have turned it into.

Perhaps, that more people in Africa will get to know about Bitcoin and its modus operandi. These are my wishes.

I'd like to buy other types of investments with my bitcoins just as real estate, jewelries and other common investments that we have except altcoins as I have them already.
Precious metals and things where you can diversify your investments for real.

for people who are still first entering the world of crypto, indeed do not want to know how the coin works and the technology that is in it. You are right, that the most important thing is to deposit, invest, then make a profit. it will be more important because that is the main purpose of crypto in this online investment world. but along with the development of technology, such development is very important for the progress of crypto, because it must always follow the development of technology and also trends so that crypto is not quickly left behind.

You have a great idea, i hope the hackathon will bring positive results, Bitcoin for me is almost complete I guess the volatility and the speed of transaction is something that will be address in the future when adoption has overtaken the whole financial and merchants community.

I think everyone holding Bitcoin are waiting the times BTC will be accepted in ordinary shops and online stores as a payment method.

I view Bitcoin as a Store of Value. The payment scenario will not be popular. I don't want to do anything with it except buy and hold. I made a video explaining this:

https://www.youtube.com/watch?v=wCYpSY0qNsw

I'm mostly interested in how to store Bitcoin securely. I think Bitcoin money-making business will remain trading, aka, the casino business. The Bitcoin ecosystem will evolve to have more sophisticated vendors.

Holding Bitcoin for a lifetime isn't really a good idea. The volatility makes it difficult to say that year after we can see our investment grow. This is a reason why I didn't hold everything with it, besides I have to invest outside crypto than to completely holding BTC alone.
What I wish for my Bitcoin is that the price won't just drop badly and it can be useful in the future.

It seems like ordinary shops will find it difficult to accept BTC as a means of payment, because until now there are still many ordinary shop owners who don't know what BTC is, if for online shops there may already be many who know it, because BTC has been present for almost more than 10 years.

One of the things I wish I could do is to take part of the Bitcoin, exchange it for fiat currency, then use it for investment. After that I wish to create a foundation saddled with the responsibility of helping others.  If they ask me, what is the secret of my success, then I will tell them, it has been through cryptocurrency.  Through this, I think in my own little capacity I can increase the awareness of crypto among people.

Right now where I live it almost impossible to buy anything directly using crypto payments so I wish in future I could spend my crypto directly without converting it to fiat first.

I want to use most of my bitcoin as the investment in the long term, and I don't want to use it to buy the product.
I prefer to use fiat money if I want to buy something because bitcoin is an investment and I don't want to spend more bitcoin.
If I have to sell my bitcoin, that is because I need money to buy my daily needs, and I will withdraw some bitcoin to cover my daily needs.
But I hope that the price can increase in the short term so that I can sell it at a high price.

yes I think so too by spreading our assets, our opportunity to get greater profits and avoid losses if one of our investment types has decreased.
because not all types will go down together unless there are global problems like the pandemic that has occurred in recent months.

To be accepted in almost any online shop and local merchant alike but that would make bitcoin price stable and the occasional surge or spike will not be as big as today, but I hope almost everyone on the planet will know about bitcoin.

Good to know that there are people who are trying to contribute to the community and are trying to improve the usage of bitcoin.
Also, the Hackathon idea is really great as more people will be able to join the community and bring in more ideas to improve the usability of bitcoin.

The only thing that I feel should be improved in the bitcoin network is it's adoption.
Though there are stores and places that accept bitcoin but it's still too less in my perspective.
Bitcoin's adoption should be increased only then it will be used for what is meant to be.
I know good things take time and bitcoin will also take it's own time to be widely adopted.

No doubt cryptocurrency is the future, we accept it. But it seems it will take a long time to accept the world crypto as cash or as payment system as you above mentioned. No doubt some people have already done it, but l mean for the whole world. There are still most people, who don't know anything about BTC. Lack of knowledge is the main reason for not using so much BTC as a payment system, but sooner or later it will be accepted.

I would like to pay my bills and grocery with it. I know that everything else is still a big chunk of my income, however if I could pay my bills with bitcoin and if I can pay the food and other similar stuff you buy from grocery store (health stuff, shampoo, cleaning stuff etc) that means 50% of my income could stay in bitcoin and I could pay that with it.

Or better yet I want a proper bank type of thing for bitcoin where it is not prepaid cards, it is not third party organization for a bank, like actually a bitcoin independent place where we can get a bitcoin card which we can spend wherever we want to without trouble. That is actually what is the most important adoption part we are missing right now, if we can handle that, we can handle all the rest and spend it anywhere we want.

It will really take a long time before bitcoin and other cryptocurrencies to be accepted as a mode of payment in the real world because there are still a lot of countries who don't like bitcoin and cryptocurrencies, that is why they banned it in their country. But there are still chances that other countries would implement to use crypto as a payment in the future because online payment is becoming a trend today.

I think what you have said are almost the same with what others want to do with their bitcoin. Even myself i would really want to spend bitcoin anywhere i go and buy all the things i want with it. But these things might not be possible at the moment since most of the people here are considering it more of an asset or investment that should be kept for a higher value in the next days or months.

Actually there is no need to be confused to determine what bitcoin is for. especially this thread is actually just one way to promote Echo indirectly.

In my opinion, the use of Bitcoin that makes the most sense and often happens to everyone is to make money. In this case, the easiest term is that you can make (more / less) money with BTC. We can trade these coins to get profits. We can also get rewards after all this time holding the coin. In some countries, BTC can be used as a means of transaction method, for payment.

I'm sure 90% of people just want the price of Bitcoin to break through resistance at $ 19,000 and be ready to go to the moon new all time high, that's already inevitable, I also want that to happen  ;D

I'd love to be able to stabilize its value instantly, without having to suffer any risk whatsoever or use third-party platforms.

I think BTC should have an accessory token called sBTC, which is stabilized to the value of the dollar (or another cryptocurrency) at the time of stabilization using an oracle system.

The oracles could be paid a small % of the stabilization fee for their service.

Vendors and merchants could then choose to either only accept sBTC and keep it stable, or convert it back to BTC at the point of sale and take the risk of volatility.

Could help to get mass acceptance much faster if price risk could be selectively eliminated.

It is always things that my friends also asked me.
I always answered by a simple thing:
Q: What can I do with it?
A: I can get more money from it.
Then they will also ask about
Q: "how can?"
A: yes, simple, trading, investment, and also working to get free BTC.
Q: So, BTC will make your rich?
A: Yes, we can be rich from BTC. But we can also be poor from BTC.
Q: What? we can be poor from BTC?
After explaining actually what BTC and the risk also profit of BTC, most of them left it. They are afraid of losing money. yeah, it may be not good by telling them it. But, it is important not only telling about the 'Super legit profits' but also the risks that will be required.

that's all people hope to bitcoin price so their asset value increase alot  and when it happen they will realize the thing that be their dream so far. so before it happen its be our chance to collect bitcoin as much as we can by working in bounty campaign or trading.

Spread or diversification is needed. Just like what we have right now with this pandemic, if you rely on your day to day paycheck and your company lockdowns as well then you don't have any income for the rest of the months until it lifts.
But if you have other assets and investments that can also generate revenue, even with the lockdown or pandemic, the other may stop but the rest will continue to give you income.

Most people choose to wait and hold their BTC, but why not try to trade with their BTC so you can still make a profit before the $ 19000 price reached. We can still get profit by trading daily. Indeed, I also agree that waiting back to price $19k is our hope, but we should also use the moment for trading.

I have never wished for anything more, I just like the fact that I can use it for transaction. I have some of my family that are living abroad. Normally when it has to do with sending money, it requires us going to the bank and waiting on the line and after that you will get your form, depending on what method you want to use, whether it’s Western Union, Bank Wire, etc. And after that you’ve gotten the form, you will then be required to fill it and then submit and all those process and the fees you will have to pay.

But when we started making use of Bitcoin, it has been a piece of cake. There is nothing like leaving my home to the bank because I want to send money abroad. I just fund my Bitcoin wallet using my debit card, or other services, and then I collect their address and send to them and within a minute they have gotten. This is enough for me.

I really like the simple explanation above. Most people around me are also interested in BTC because they think they can make riches quickly. Usually, typical people with superficial thoughts like that will not last long in the cryptocurrency ecosystem. They will immediately leave BTC after loss because they do not have basic knowledge, then trapped scam, fud, etc. Even worse, they say BTC is a scam, even though the loss was due to their own mistakes that are too greedy. If we are ready to profit, we must also be prepared to lose, that is the principle.

Try to work on some that is btc payment or usd payment so you can be able to buy a bitcoin and you can hold it for long term and you will see how much profit you will have, don't lose hope that you will earn more btc or you will have a huge amount of btc just stay positive.

That's why if you are a newbie in crypto, you should educate yourself first. And you are absolutely right, those without basic knowledge that jumped into crypto, and suffered loss, will eventually cursed btc as a scam. And worst, they will spread this fud to others without stating the real cause of his loss. This is the reason why many people are hesitant to touch crypto because of those misconception towards the use of it and the misleading news about crypto.

If i have more bitcoin i wish to do something good to other people especially those in need. Like this time of global crisis and pandemic there are a lot of people in need. I wish i have more bitcoins and do some good deeds

They prefer to hold it because they know how valuable bitcoin is and we can't remove the fact that bitcoin is very suitable for long term investments. That's why they prefer to hold than to trade it. Actually, I'm currently holding a small amount of bitcoin and I just add some amount of it when I have extra money. That's true, we can able to make a good profit if you're going to use your bitcoin in day trading but for me, it's better to trade other cryptocurrencies than bitcoin.

And what I wish for my bitcoin basically, is to be more valuable and to have a successful life once the bitcoin reaches the moon again and the most thing that I could do with it is to use it for my family needs.

Why do you have such small requests? The whole forum is full of forecasts that next year we should expect an increase in bitcoin prices to at least 150k dollars. And at the same time, users cited quite serious arguments as beliefs.

As we can see here, people just simply want to spend or invest it a lot more, they just want to be part of something bigger while they use bitcoin as well. I know that it is not common and bitcoin is not spent properly and only in few places, but if you check all pages you will see that bitcoin is wanted to be spent in more places, that's it.

Definitely there are few who would like to put it in banks, few want to make money with money, but the general train of thought is actually spending it. This is actually one of the hardest things to manage because it is an amazing amount of money to be made if you make a company about it, but it is also legally quite tough situation as well. If any company in the world could manage to handle the legal part of things, they could definitely handle the business side of it since there is so much request for it.