Bitcoin Forum

Satoshi envisioned Bitcoin as a Peer-to-Peer Electronic Cash System. While it can and has been used for payments, its use as a medium of exchange has so far been very limited.

It has moved from being a collectible to a store of value. Will it ever move to being a widely adopted medium of exchange and global payment solution?

People are working on layer-2 solutions such as Lightning to make it quicker and cheaper to transact with bitcoin; and trust me when I say that there's progress even though the space is developing slower than what people want.

No doubt about it. It will happen. It is starting to happen actually. Only time can tell when it will really become a big thing as a global payment system.

As mk4 said, layer-2 innovations are now being offered globally so Bitcoin could now be used in small-amount transactions. For larger transactions, Bitcoin is already in use, although it is still a factor that adoption is still in its peak. So the price is still rising very quickly causing Bitcoin owners to rather keep them rather than spend them.

This vision was achieved from day one that bitcoin was created. Keep in mind that being a "currency" is not about how mass adopted bitcoin is, but it is about its capability to act as a currency.
Think of it this way, you can go to a grocery store and ask if they accept bitcoin and pay with it if they do. You can also go to a grocery store (let's assume you live in US) and ask to pay with Yuan and if pay for it if they do. If the store refuses to accept Yuan it doesn't mean Yuan is not a currency.

As for mass adoption I say a couple of things have to happen first which could take about 10 more years. First the bitcoin market has to grow bigger to the point where its price becomes more stable and we don't see 10000% rises in 4 years anymore. That requires a much higher price too. Also the scaling has to be improved more than the current state.

In some ways Bitcoin already is a global payment solution. There are quite a few remittance-type wallet services out there in blockchain-friendly countries that provide cheap on- and off-ramps to local fiat currencies, allowing individuals to bypass traditional services like Western Union. Same thing for cross-border commercial enterprise.


These are all great points.

I don't mind if Bitcoin never reaches true "mass adoption" and am not waiting for it to become the one-world currency. It's already been successful beyond anyone's imagination.

Well, I personally hope it would. There's still a lot of stuff that kind of prevents it from developing that way, but there are also developments being made to make it a lot easier to adopt if it does ever start to happen. The current progress seems to be more like the development progress of Bitcoin as well as letting its name out in the world, and its adoption as a payment solution would only happen after maybe a few more decades. Just its high volatility is enough to keep most merchants away from it after all, and it'd only die down once the hype is out and the released supply has pretty much maxed out.

We are not really in that phase yet where digital money can be used as a payment tool in most of the transactions, but soon, we will.

Hoping that people will see the advantages and importance of bitcoin in our daily lives especially that it has really a value in the market.

There is something more in bitcoin that we should explore not only using it as a store of value because that's not primarily made for that.

It's a gradual process, there's no need to rush. Enjoy whatever the industry offers now which is Bitcoin been an asset (store of value), this was the fastest way the attention it's getting now could have been achieved. As the industry continues evolving, we'll see all the initial idea of Satoshi come into existence.

Like other reply above mine has highlighted, there are solution been worked upon daily to bring about faster transaction and low fees. We have those that careless about the price and more on the technology of Bitcoin so be rest assured, a time will come when you can use your Bitcoin to buy cents of goods and make payment for service without having to overpay.

Already the lightening network is making that possible but with wider adoption and more uses friendly improvement, the issue if high fees will become a thing if the past.

For Bitcoin to become a global payment solution, it has to compete with centralized solutions like PayPal, SWIFT etc. In a way, it can never replace those but can create a niche for itself with a new form of payment system for a new economy and a new set of users who are comfortable in their digital lives.

What comes to mind is things like streaming payments and other incentives for engagement and knowledge sharing. The usage of Bitcoin for such things is dependent on these things first getting normalized themselves.

We are already seeing some of these materializing in the form of the trend of NFTs and DAOs that are building around the creative community. Artists, Singers, Video makers are finding new ways to monetize their performances and connect to an audience that puts value on digital representations of arts as well as events. This market is being taken over by NFTs and hence the smart-contracting chains like Ethereum rapidly. In a way, they are the first entrants. Whether Bitcoin can find a foothold in this, is a question that can only be answered with the performance of LN and application built on top of it.

Not until scalability, fees, etc has been resolved like what it says in the comments above if LN will become successful in the near future no doubt this can be achieve 100% but for now lets wait and see blockchain developments are not stopping to discover and develop new solutions to existing problems in btc, Im hoping that in the next 10 years btc will have cheap transaction fees, fast and easy to use.   

Lightning network is already successful, it's just that not a lot uses it. Also, I do agree that fees and scalability is a problem but I don't think that bitcoin can cater a global market given that there is a billion of us in this world and there's only little bitcoin for everyone to share.

It can and has been used? It is used today still,,, I have been almost ever since on this forum receiving bitcoin as payment for services. Medium of exchange? Did you not even see most of altmarkets is against BTC as the first crypto pair?:)

It was never a collectible,,, totally disagree there.

It will in the future.

As we can see some online shop is already accepting Bitcoin as the payment, it could bring to the traditional shop/market if Bitcoin has got mass adoption. At least when someone hear a word "Bitcoin", they already know what is Bitcoin and not talking back "What is Bitcoin?". It would be better if they define Bitcoin as a currency, not as a investment asset only.

Bitcoin can be a collectible, but it should in physical form or known as Casascius Physical Bitcoin.

Hopefully this adoption will steadily grow in the future because a lot of negativity are being associated with bitcoin and I am pretty sure that businesses will consider adapting the system if there is something bad that comes with it.

Limited in a manner that not most of the shops are accepting but at least there's a progress from its day 1 up to this date. There are more and more people and merchants that are adopting it and we should look into that point because that's what progress and fundamentals mean. Using it as a medium of exchange is still all over around and we're getting the idea that it's becoming limited due to its value and not everyone wants to spend it. But don't ignore the fact that there are also online services that keeps on rolling out with the use of bitcoin and they're a lot.

It will. The use of it for being a store of value and as a medium of exchange coincides and that's not a problem at all.

There's way too many variables to make any good predictions about it. Bitcoin's volaility is one factor that prevents adoption, and who knows when will it end? Lightning Network is still in development. Companies can still be reluctant to adopt Bitcoin because of unclear regulatory status. General population doesn't see benefits of Bitcoin, because they are satisfied with banks. Any of these factors could change in the future and influence adoption.

Couldn't agree more. People often think that 10-12 years is very long period of time and that Bitcoin somehow failed because its use didn't reach mass adoption yet, while in reality this is extremely short period of time for something as complex and I think that not even Satoshi thought that Bitcoin will spread as much as it did.

Yes, this will definitely happen. Bitcoin, with its high trading volume and global investment due to rising prices, could be one of the global payment solutions. I do not know when this started, but do not doubt that it happened. It has started and we are in the middle of the road.

this doesn't seem very feasible as there are still many countries that have been banning bitcoin as a means of payment. blockchain payment for a payment solution still has many shortcomings and problems yet solvable. I think it will be many years before this becomes a reality

Bitcoin has been very successful with bitcoin for a long time already regardless of how many struggles and doubts it went through. This just shows how firm bitcoin's foundation is and we could expect the best in the future as it gets more innovated as time passes by. Ways will be provided on how bitcoin can be useful and reliabe for everyone around the world. Even if it wouldn't be legalized or be banned, surely people will still patronize the use of it for the convenience and benefits it gives off to everyone.

To be used through peer-to-peer transaction, it might take a while.
Here in my country, we already have certain apps like Coins that allows us to pay our bills though not all merchants are allowing the payment through it just yet. It is still third-party app in the end, but it is a payment solution.

Unfortunately, bitcoin has not yet become a widespread means of payment. So far, two factors hinder this: the expectation of participants in this market for its further high price growth, as a result of which very few people decide to use bitcoin as money, when in the future its price may increase many times. The speculative interest in this case far exceeds his interest in using it as a means of payment. The second factor is also common knowledge, it is still low scalability and high transaction costs. Now many altcoins have achieved better results in this regard. Of course, cryptocurrency is still developing rapidly and bitcoin still has a chance in this regard.

Bitcoin adoption is still in progress and I am sure that bitcoin will widely used by many people around the world. I think although maybe it will not be the main currency because likely government will force their citizens to use Fiat as main currency. I think bitcoin will be the best and most popular alternative payment method. In my opinion bitcoin is better than any remittance service. I personally feel very lucky because bitcoin is created, I can pay many goods and services in website with very simple and easy way unlike when I use other payment method.

will bitcoin become a global solution that is widely adopted, I believe and believe it will, because bitcoin has proven to be a good global currency, and is able to bring many advantages, in the future bitcoin will definitely be widely accepted. .

Bitcoin might be used widely but I doubt it can be used as the main currency and not because of the government.
People might not use them as the main currency because of the high transaction fees. It is quite clear that the transaction fees will go up if there is a rise in the price.

The higher fees will obviously affect us because users might have various payment methods to transact globally with lower fees. I agree the ease of transaction is better with Bitcoin but if the fees are too high many users will use other payment methods.

this can happen, but all of that requires a very long process, and requires a very long discussion, because for now there are still many people who hate bitcoin, and there are still many who don't know what bitcoin is at all, so this is not the time to talk about all that.

this might happen but of course it is not easy and it will take a long time to realize this.
Why did it happen? the reasons are quite a lot because
1. Many governments still prohibit the existence of bitcoin.
2. there are still many people who are not familiar with bitcoin and they still consider bitcoin as a taboo subject.
3. The move from fiat money to bitcoin is very difficult to do globally and definitely requires work and explanation in detail and easy to understand so that people are interested.
but hopefully this can happen in the future and hopefully people will start to know about this bitcoin and start to be interested in investing in it

Maybe it could but would we use it as a payment option when we have cash?
Let's just say that you could use it without a fee or the transaction time is instant, Would you really use it as a payment ?
Are you willing to use it knowing that the price fluctuates and you could use it to earn more?

It is not surprising to see such a poll result, because in fact we are already seeing it. Yes, in some parts there is a struggle between those who oppose bitcoin and want to replace it with their own digital financial solutions like China, for example. But most other countries cannot do this, and they probably don’t want to. I think we will see a world where there is bitcoin, digital yuan, and ordinary money for a long time to come.

I guess we can assume that there might've been some people that considered bitcoin to be a collectible back in the early days, knowing that it was initially worth nothing. Just some magic internet tokens that are freely transferable.

BTC is widely adopted globally as a payment solution already, it's just that we in crypto are the ones using it. Some people are still using the remittance companies but basically, BTC can be used along with these remittances which unknowingly those guys are still connected to the financial system that one day may start using BTC as well. The government now regulating crypto market is just the start of massive adoption.

can, but its users will be limited. one of the reasons is because the fee is quite large compared to other methods. but there are many other crypto coins that can be used for this. stablecoins, privacy coins or cheap coins like doge could be alternatives. although not bitcoin, but the future of payments will still be held by cypto.

As an additional option for payment I most certainly think yes but as an adopted global payment it is highly unlikely, however,  the future remains the future,  it is impossible to know what will happen but certain things that are happening now can help us imagine what the future may look like, right now the majority who owns btc only have it as an asset for investment to make money more than as a payment means.

First of all when in 2011-2017, I really believe that it can happen. because the transaction is very fast with a very cheap fee. how can something like that not be accepted for better payment right?  ;)  but getting here after price reach 10k+ transcation confirmation so slow and also the fee for each single transaction so high, im still hoping there is will coming new wallet more than segwit address that will giving lowest fee. honestly if i make online payment transaction with crypto i choose some coin that will have lowest fee and also fastest confirmed transaction.

yes, it can happen, the problem is how about the true price is unstable, expensive costs, these two factors make bitcoin difficult to become a payment method because every time the forecast is always changing, but bitcoin is still considered a new financial technology.

I vote for yes because bitcoin can be accepted as a global payment that can help fiat transactions and people do not have to convert their local fiat money when they travel to other countries. People will have other solutions to pay and they can carry bitcoin in their wallet on their mobile phone, so they do not have to use a bag with many cards or physical money. It helps people use bitcoin anywhere they want, as long as a store accepts bitcoin for the payment transaction.

Bitcoin will become widely adopted only if the BTC price becomes more stable and the governments/central banks allow BTC to be widely adopted.
We have to face the truth.Bitcoin cannot become a truly global currency,if:
1.Governments don't like BTC,because of tax evasion,money laundering,energy consumption,any other FUD,etc..
2.Small business owners don't like BTC,because it's highly volatile.
3.The transaction fees and confirmation time can increase a lot sometimes.

Bitcoin adoption had started growing, it takes time to finally accepted by all people, not this time but could be happening in the future. Perhaps, we are seeing that many establishments are accepting Bitcoin's payment now. It was just an indication that in the coming years, the majority of the business globally will able to cope with the new technology as we know that we are more on the online payments system.

One of the biggest problems of bitcoin become widely adopted global payment solution is the scalability. The Bitcoin Blockchain can process something between 3 and 7 transactions per second while some credit cards companies as VISA can process thousands of transactions per second. To increase how many transactions bitcoin can process, some people defends increasing the block size, which is 1mb nowadays. However, when you increase the block size, the bitcoin become more centralized.

This is the biggest problem: scalability vs descentralization.

In 2017, people begin a discussion about increase the block size from 1 mb to 8 mb. However, it would become bitcoin more centralized. People didn't reach a consensus and it caused a hard folk, creating Bitcoin Cash (CSH), another crypto very similar to bitcoin, but it has bigger blocks and is more centralized.

We can use Bitcoin more widely if the means of payment agreed to wrap Bitcoin on another blockchain. That will reduce costs and faster confirmation times. Nowadays, there are many successful wrapped blockchains, the most important issue is whether people in the world will accept Bitcoin in a wrapper or not?!?

I see that as something very different though,,, People were collecting the physical casing for it, the coins or wallets or whatever those things were. Many of those things did not even have funded wallets (zero Bitcoins).

There is otherwise no collectible value for a Bitcoin or satoshi, otherwise it is not fungible:)

PayPal has already integrated it to its platform. Visa and Master are exploring the possibility. So I would say that we are on the right track. The cryptocurrency puritans are not going to be happy, because PayPal is probably aiming for a hybrid approach between Crypto and Fiat. For payments, cryptocurrency will be first converted to fiat before it is transferred to the merchant. I am perfectly fine with this, but some of the oldies here would be horrified at such a possibility.

But who cares about Paypal? Did you read that one of the contributers to Tor project suddenly had his Paypal frozen? And the company did not give him a single explanation about it.

You can read a thread about it here. https://bitcointalk.org/index.php?topic=5341553.msg57146715#msg57146715

Not your keys not your coins no matter who the person accepting BTC is.

This is according regulation of each country, in my country Bitcoin and others crypto only possible to trade or use for intrument of investment, but does not allow to use for payment goods and services. Some country was legally accept Bitcoin and others crypto for payment and they build Bitcoin ATM in many public location, hopely more country will do it so adoption of crypto is growing rapidly

If Bitcoin could have a great break through with their transactions fees and the speed, it would be the best global financial/payment and receipt solution in the world. Only with these Bitcoin could become the solution to digital transactions.

But for now technically, Bitcoin doesn't have all that it has to take to become one. It became an investment vehicle which people invest with, diversify their portfolio and also move their assets into it so the value of their wealth will grow or preserved.

There is a lot of cryptocurrencies there that could be the solution. BNB is an example of it. But still, we will never know what would happen in the next years.

If Bitcoin evolves, good luck the fiat!

Probably someday, as the first goal of creating Bitcoin.
However, can it be? It will depend on how the future generation views Bitcoin and how the government will be. Many issues are spreading about Bitcoin and many countries still don't accept BTC as a currency.
That is still an obstacle. Although right now, BTC has a high market cap, it doesn't seem that all countries can really accept BTC as a currency. that is why it may be only a digital currency.

Its adoption will go higher and higher in time surely. But I don't think that Bitcoin will be global payment solution. I assume that no government would be willing to accept it as its main currency.

In the end it depends on the rules of each country, because for now there are not many countries that legalize Bitcoin as payment. Bitcoin is still
considered a digital asset for investment only, therefore the spread of Bitcoin ATM machines is not evenly distributed in all countries. But Bitcoin is
only 11 years old, so there's still a lot of possibilities in the future. I still believe in the end Bitcoin can become a global payment solution in the future,
but don't know how many years it will take for that to become a reality. What is certain is that we must be grateful for the current conditions,
Bitcoin can be a reliable source of income. Sometimes it takes a long time to advance to the next level.

Hopefully, all the electronic payment platforms integrate bitcoin because that would be one of the way to make it become a global payment solution since they are already an established platform but the problem is it is a centralized one meaning that they will probably work on a not your keys not your coins.

It won't, because people use bitcoins only for investment. no one wants to use it to make payments, because the fees are quite high. but the future of payments remains crypto. maybe in the future people will use stablecoins or coins like doge or tron which have cheaper fees. this makes more sense than thinking bitcoin is used for everyday payments like to pay for pizza.

When we think of bitcoin to be the global payment solution, there is a need of support from each and every country. This isn't possible at the moment, because slowly countries are into regulating the usage of bitcoin. Right now we've got more and more number of payment service providers. Bitcoin gives the freedom of transaction, because every other forms of transaction has got limitations and big process involved. Only badge against bitcoin transaction is the fee.

I don't think it will be possible or even impossible, bitcoin being used as a means of payment has many loopholes or drawbacks, such as unstable fees, prices, and much more. But the benefits of bitcoin as an investment are quite good, because bitcoin is a testament to the advancement of financial technology.

Bitcoin due to its high fee (specially in bullish market) and scalability are too prime reasons why bitcoin till date wasn't able to made it to global payment system which was its main goal. Like its already said in this thread, that Lightning network solution is there to overcome this shortcoming. We have to wait to see whether it becomes successful or not.

Today that covid and pandemic is here on us many people are using cashless transactions especially those persons who are getting care of themselves. Cashless transactions are being essential nowadays due to the safety protocols that the world government is practicing, due to that reason many people are adopting those cashless that's why there's a huge possibility that the bitcoin will be adopted globally as a payment solution for everything that we are buying especially when it comes to online transactions due to that bitcoin has the fastest transaction and also less hassle to manage.

That's the exact opposite thing people wants. In fact, it makes no sense at all. Why do you need paypal, visa or master to process your transaction? Bitcoin becomes useless when you integrate it with these payment providers. I mean if these centralized payment providers integrate, then there is no difference between bitcoin and the digital fiat (paypal balance or funds in your cards). We need bitcoin so that we have freedom. Imagine spending bitcoin from your paypal account and then paypal freezing all your coins because they are suspicious of your activity. How frustrating would that be!

Yes bitcoin will definitely be become a widely adopted payment solution, some countries have started legalizing bitcoin already and lot's of companies have started accepting bitcoin as there payment methods and lot's of financial institutions have been adopting bitcoin and more people are beginning to know more about bitcoin which is very good I believe is just matter of time bitcoin will become widely accepted global payment solution.

Maybe, at the moment, a lot of crypto users are treating bitcoin as a store of value but once the volatility of its price calms down or stabilized in the market, many people will use this in the payment system. As we are avoiding the handling of cash as much as possible owed to this pandemic, bitcoin, is also a very good alternative option for payment. This is the reason why some merchants started to include this in their system. It will take time to adopt it in massive scale but we are already heading into that direction.

This news isn't coming now, but El Salvador has shown that government around the world can make it official, by including Bitcoin for their citizens option of payment.
Also the adoption is surpassing phases as I saw at a POS -point of sale stand- and I saw the attendant told me they receive bitcoin as an option for payment, I felt excited and happy, even though I was with Fiat to pay for what I got I choose to use bitcoin.
I think adoption of Bitcoin won't heal broken economy, If the government don't add logistics that can work to it, regardless for a citizen like I am, I should freely have options to make payment with bitcoin if I so desire anywhere at anytime, if that can happen then it's the climax of adoption of Bitcoin.

Yes, of course.
Bitcoin as a means of payment through the Lightning Network and other solutions that are being created in other networks. This is the beginning and there will be user friendly dapps that will provide low fees and fast transactions with this we have already achieved.
The latest events will take that important step so that more people benefit from the financial inclusion that bitcoin offers.

^ Probably when other countries will follow what is the decision of El Salvador, is probably a good sign that they are right of what they decided. Because they realized that BTC is always good for transferring your asset worldwide and the president of El Salvador was saw this vision of usage of BTC because he saw that there are too many abroad that suffering to making transaction that you need a third-party service in order your money will move into other countries whereas using BTC you can do it alone in yourself. Nevertheless, I appreciate the proposal of the El Salvador president to make BTC legal and tender.

For the moment, no. But in the future, the probability is really high that it will. Now, not many places supported bitcoin, so using it is still difficult, there are not many options that we can use bitcoin as a method of payment. Now, it's just a speculation tool, and not many people use bitcoin as a method of payment since they are afraid that it will be such a waste. Bitcoin price will be higher and higher in the future, so instead of using it they keep hodling. If this remains, i think it will be hard and a long way for bitcoin to be used as global payment solution.

There is a high possibility that it can happen in the future but for now, it seems to be far beyond to happen due to the current problem the world is facing right now. But we have already seen people are starting to get to know about Bitcoin slowly but surely because of the pandemic wherein many have switched from stock market to crypto market on which many have realized its importance and usage and have realized of having engagement with it. We still cannot ensure as of now the wide adaption due to the common reason not all are yet aware and not all can cater accepting Bitcoin as a mode of payment for now. But if those problems will be resolved, then maybe we are getting near to that idea.

Now a days Bitcoin is only considered as a Digital Asset.
People only invest in BTC to increase their source of income.
There are many online stores that is accepting BTC widely but again there are some aspects which is restricting other stored to accept it.
The first thing BTC can’t be accepted as a global payment method because of it’s volatile nature.
I guess this is enough for OP to gain some enough knowledge.

Slowly, yes. One of the previous one that accepts Bitcoin is the Tesla but they dropped it eventually I think some of the companies still planning to accept cryptocurrency to use their service. I am still thinking what can be the problems in accepting cryptocurrency. Probably slow transaction? Transaction fee? Quick price change?

Bitcoin has only been in existence since 09 & we already see it accepted as legal tender by one country. No doubt soon many more will follow. Bitcoin is mentioned in mainstream media all the time & many people use it now, I have no doubt that in 10-15 years it will be used by nearly everybody.

this can happen but you have to think in advance about the adjustments that exist because a transition like this of course takes time and risks that must be taken and will certainly have greater potential than this.
because there are definitely many people who are not used to this, of course it will feel like a hassle and have to get used to it first

It has started already. El Salvador proclaimed it as a legal tender, next is likely Tonga and Paraguay. There will be more of them in the future. And with such announcement and support from governments.

Bitcoin being a global payment is inevitable. It only takes time until we see majority of the countries have made a law about it.

maybe. people will always find easy ways to do something. when there is easy thing like this, poeple will run and stay on that line, until they find another easy path.
its hard to say all people use it as payment solution, but people who know about it, between seller and buyer will adopt it as far as they know.

No doubt it will... El Salvador just recognized bitcoin as legal tender...

Wide adoption of bitcoin for payments will take place in layer 2 solutions such as the Lightening Network and not on the base-layer.

I believe that this will happen even though it will definitely take some more time. When satoshi developed Bitcoin even the first adopters never really thought it will get to this level. As we know, there are many things in the works to make Bitcoin a better version of what it is now and even though Bitcoin has been spent and accepted by some stores/businesses around the world, we will see an even bigger adoption in the future where more and more countries turn to Bitcoin as a Legal tender.

I think bitcoin deserves to be adopted as a means of global payment, but from the point of view of its existence it is unlikely to be realized in the near future, only the Tesla company accepts bitcoin at this time
it takes step by step so that everything is realized and perfect

Will, there is a chance for yes or no. But maybe need long time, to make it happen. Fiat is really strong, backed by government. If they think bitcoin can disrupt fiat, they can do anything because have power. Like when they made some regulation so people can't make bitcoin as payment and some company can't use it too because of it.

Still very difficult to be adopted by the global. Need various adaptations and need for further development. Bitcoin which tends to be more volatile certainly has a greater risk. Bitcoin is still the payment option after the use of FIAT. Tesla doesn't even accept Bitcoin as payment anymore, but that doesn't mean Tesla doesn't support bitcoin. Tesla still has Bitcoin to develop. Several other companies, of course, have accepted Bitcoin as a means of payment. Step by step bitcoin is able to become a profitable digital currency and with more advanced technology.

Limited in terms of what? functionality or  payments?  both are being friendly .

so basically Bitcoin will be on top of every payments in the world.
The world now is considering this happening mate , look how many big businesses now that accept and uses Bitcoin ?

is this not enough for you to trust and believe it will coming?

Yes I think so, this is possible with the kind of situation we have now, the era of electronic, and technology development, with lots of innovation being discovered today plus the fact that this is now the trend and so called safe mode when comes to nationwide and worldwide transaction. This pandemic become a tool to push through with these solution.. and soon enough it will become globally use by people in all over the world.

If Bitcoin becomes a daily payment method, most transactions will occur on the second-tier network instead of the main network. The bit ratio on the second-tier network is a mapping of the main network bitcoin, which is the same as the mapping of gold to paper gold on paper. Paper gold is the paper currency of the gold standard, and the Bitcoin of the second-tier network is the token of the Bitcoin standard. Everyone knows the end of gold. In the end, gold was replaced by paper money. So in the same way, I think the final outcome of Bitcoin will be the same. So I don’t think Bitcoin will become a universal payment method.

Slowly, Bitcoin is getting more and more used as a prime payment instrument. That is why I think global adoption is not far away. Maybe in 10 years it will be widely adopted. Some might say that 10 years is a very long period, but in general, in the worlds payment history this is nothing.
I'm worried more about other thing. Ok, Bitcoin gets global adoption. But people will still prefer to hold it instead of use it as a primary payment. It might turn that Bitcoin will be adopted, but not really used often.

The only problem that we are facing is that not every person in this planet has an access to technology and to necessary channels to access bitcoin but it's possible for bitcoin to become a global payment solution.

I am new to Bitcoin. I have doubts about the issue that Bitcoin can be used for daily payments. The price of Bitcoin is in a state of long-term fluctuations. If I buy goods now and pay with Bitcoin, after the transaction is completed, Bitcoin has risen sharply. At this time He will frustrate me for a long time. If there is a big drop, what will the store owner think? This will have a bad effect on Bitcoin.
Therefore, for daily Bitcoin payments, I prefer his store of value.

Right! We might lack mainstream adoption, but we are thriving; the community has grown much in the past years.
Cryptocurrency is almost synonymous with Bitcoin since it pioneered blockchain technology.

Yeah and countries are now considering to adopt Bitcoin like IRAN here


>>>>>>>>>>>>>>>>> https://bitcointalk.org/index.php?topic=5343240.msg57241858#msg57241858


it looks like in the next years there will be a digits of countries to use Bitcoin as legal tender.

Big YES for that but to know when, it is really hard to answer and nobody could tell neither.

Well, the adoption is in the process and continuous improvement. It can't be done so quickly depending on how the people/user will adapt to it. A lot of factors that could affect this and one of these things is because of its volatility. Many establishments are still doubts and they are also afraid of losing their money once the market will dump.   

I highly doubt that Bitcoin specifically can be a global payment solution alone because the only thing that bothers me nowadays to transact using Bitcoin is its fees. I still consider the time to be fair enough.
Recently I did search for alternate options to make transactions if the other party accepts or agrees on it. Tron is now one of my priorities to transact as its fees are quite less and the transaction completion speed is faster than Bitcoin as of now.
Hence, I don't know if Bitcoin will be able to make it acceptable as a global payment solution but I believe that surely atleast one crypto apart from BTC will be accepted globally.
I prefer Bitcoin as an asset now more than a mode of the transaction if I have the option.
And as you said volatility is another primary reason that can prevent this from happening.

I think so, it will happen. Only time can tell us but actually it was already started although in just limited payment transaction because its recipients are still limited like stores and other business establishment. Another factor that can affect the slow adoption in bitcoin as payment is the volatility nature of it and a higher transaction fee. It's just better if you have a big amount of bitcoin transactions,. What it's just a small fraction of bitcoin? It's not worth to make it as payment because of the high transaction fees.

The time it takes for transactions to go through confirmations makes it a non-feasible payment method right now. I mean for darkweb perhaps and web hosting, but for day to day business transactions like paying for your meal, forget it. It's just my opinion that BTC will fall to the wayside while Ethereum becomes the currency for crypto in the real world.

Probably yes, but there are some disadvantages on the Bitcoin side which is confirmation time when the Mempool gets congested. If Bitcoin transactions reaches 200K or more the transaction fee hikes upto 50 dollars which makes bitcoin to be used in day to day life more difficult but the adoption is happening slowly as a form of investment but only time will tell that will be going to be used as a form of payment in the future.

- Well, first bitcoin will need to be recognized and become an experimental product, that will give implications for future adoption, current use case is not optimistic for this when people's actions are not following government rules, it shows that bitcoin is not qualified to be applied for payment. I also heard about a few countries that have adopted bitcoin but the numbers are too small and the numbers are not public, the effectiveness and importance of the problem is relatively low, perhaps bitcoin is in need of a more stable and improved process to cause global attention

I think it's obvious that yes, although not as soon as we all would like. The problem is that no one wants to part with the power of money that is printed by the central banks of the countries of the world. Although it has long been clear that such a financial system is in a deep crisis, these countries are in no hurry to part with such levers of influence on society and the economy. Competition is only intensifying and the multipolar world is pushing these players against each other even more strongly and actively. It would seem that this is the solution - but I do not see a serious consideration of this issue, perhaps nowhere.

And this is why Lightning Network is on the works or still under development when it comes to patching up the flaws of bitcoin in terms of block times and cheaper fees and faster confirmations.

But honestly the network isn't always clogged up for us to mind off about that manner.IF we do look back the fees were cheap almost a week now since the mempool is almost empty.

Why would make out questions if Bitcoin would be a global payment solution if the adoption of it is gradually increasing?

like evolution. This process takes time and stages that are long enough for the community to really adapt to the changes. lately more and more payment-related companies are opening up access to crypto, which is a good sign. although it is undeniable that there are many pros and cons, bitcoin is full of controversy, but it really provides a solution to today's financial problems. unlimited freedom, without complicated administrative processes, we can send money in crypto quickly anywhere. it's only a matter of time.

Widely adopted? maybe we wait for another decade to see where it was because for now, we are just about to start.

Slowly, Bitcoin becomes widely accepted ( that is very hopeful), it surely will come once the banking system and the government are voluntarily giving their support. The community just to wait for it, I believe they are. Only we need to wait for the legalization of Bitcoin as a currency and that was a stepping stone for faster adoption.

I think it is already adopted as a payment tool globaly. Although Bitcoin cannot be used as a payment tool in some countries, there are many countries that allowed it. It needs a process and takes time to make other countries considering to use Bitcoin as a payment tool as well. With some good news about Bitcoin, I am sure the adoption of Bitcoin as a currency will be better in the future.

Of course we can't say for sure whether bitcoin will become a very broad payment, but this is not impossible considering the increasing demand for bitcoin. With many companies investing in bitcoin

The lightning network is playing a big role in the adoption of BTC.  South America is leading the adoption this time although there are several countries before them, their declaration seems to be covered by the media. It may not really be adopted widely due to some countries developing their CBDC.  Even if its just half of the world population are going to be using BTC, its a big success already.

everything has the potential to happen and in the future Bitcoin maybe adopted as a global payment en masse...

the number of people entering the crypto world is increasing every day and this shows how many people are interested in Bitcoin and Altcoins. the government can do nothing when it is done en masse by the public, Bitcoin is the best solution for our current bad financial system.

There is  a possibility that bitcoin will be widely adopted as global payment solution but it will takes time to happen. Maybe 5 to 10 years from now because the problem is that, not all people are using or know how to use modern technology to access bitcoin. Another problem is the volatility of bitcoin. Although bitcoin has an advantage and disadvantage, I still agree for it to become a global payment solution.

If things remain like what it is now, i guess it's less likely that bitcoin will be used as a global payment or global currency used for transaction. Let's see that now, there are still few that accepts bitcoin as payment, and there are still issues such as high transaction fee, and long time too. Bitcoin is still inconvenient as a payment method, however bitcoin is going loud and strong as an investment. People are saying keep hodling, and most people do not want to use their bitcoin, so bitcoin will just remain as investment or asset for now, not as a currency that will be used as a payment.

There are many new users using Bitcoin, and more people around the world will use it in the future. The traditional payment system has been developed for a long time, and Bitcoin can successfully compete with it in just a dozen years. Bitcoin's transaction volume and liquidity continue to increase. It is decentralized and can be traded freely all over the world, the large international transaction costs are low, and its development trend is increasing exponentially. Bitcoin’s Lightning Network technology will also increase its appreciation potential, it will take a long time for Bitcoin become a widely adopted global payment solution.

Okay, let's take a look at how the market changes from $0 to $30k price. From a single user to now at millions of who adopts the market.
We are apparently moving continuously, it wasn't so fast to see the increase of Bitcoin users but as we can see, we are improving little by little and from that number, we possibly multiply it several times in the future.

And to be considered as a global payment system, not too far from possibility as the chance is not 0%. We can't tell when nor we can say it won't. We can just find it out in the future.

Of course this will be a question of something like that will happen, we can only hope because at a time when.there are many rejections from various countries.against bitcoin, the adoption.process that they will do is very unlikely.to happen instantly.like we turn the palm of the hand, All of this, of course, requires.a very long.process for that

Common man , it is 60k first before falling to 30k back again  ;D

10 years passed and we had reached a thousand multiple growth , so what about in the next more 10 years? at least a Million multiplier?

and this is not impossible as what we have already seen in the past.

and that is why Market is healthy because there are no permanent things in the market but only Changes .

Yes because that's the one true goal of bitcoin in the first place, to be a payment option that removes third-party to decrease payment and provide privacy to online channels. It will probably take a long time before it can be realized though because countries are still on the fence on what to do with cryptocurrencies which is a good thing for the people because most of them won't be taxed for earning in cryptocurrency.

To be a widely adopted medium of exchange and global payment solution is very possible. Because it is starting to happen now. And the number of people who are adopting it and using it was increasing.
But I think it will not going to be the main and only medium of exchange globally. Though many countries adopted it but there are still some countries who didn't. Some ban it and the other still have no idea how it works due to a lack of information and resources. And also its volatility can make it hard to adapt easily.

will bitcoin become a global payment solution that is widely adopted,?? in my opinion this is no longer in doubt, actually it is in the process, to go to global payments that is widely adopted, we are just waiting for when it will happen, if we see development of bitcoin, we can say in the next few years all of that will become a reality...

Bitcoin got into existence as a alternate payment processor, but when time passed it gained importance on multiple needs. At the beginning due to its anonymity it got much used on illegal needs. Later its increased usage is found on the gambling platforms.

At one point it experienced a massive transition from these levels of usage to a trading asset and as an investment. All this has made bitcoin a much praised investment than a payment gateway. With time we can see increasing usage and level of acceptance. Maybe by that time it can get importance as widely adopted global payment solution.

It would be too optimistic to say that Bitcoin is going to be the global payment solution. Bitcoin has a big hindrance in front of it. And that is volatility. As long as the cryptocurrencies are volatile, neither Bitcoin nor the other cryptocurrencies can be the global currency. Jusk ask governments whether they would even think of making Bitcoin their main currency. Most of them would say no. Because they wouldn't trust a currency whose value is fluctuating all the time. If we talked about stablecoins, I would say that they had more chance than Bitcoin to achieve it.