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Author Topic: Why Is Getting Bitcoin "Accepted" As A Form Of Payment So Important???  (Read 6117 times)
squatz1
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May 03, 2018, 05:27:42 PM
 #41

Because once bitcoin is accepted as a means of payment this is when bitcoin is going to be able to be used as it was though to be, because Satoshi never wanted bitcoin to be an investment as it is now, he wanted it to be a global currency which was going to revolutionize the world.

At some point, this MAY happen -- but the world governments will make it hard. It's not going to be easy, and it's not going to be guranteed.




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singularity123
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May 17, 2018, 10:02:24 AM
 #42

what about Cardano? Does it envision it to be both store of value and payment currency?
maxim4eg123
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May 18, 2018, 01:19:25 PM
 #43

Because Bitcoin has a big impact. This makes Bitcoin more familiar and helps in development. We know Bitcoin is the digital currency. We now live in a digital era where everything is connected to the Internet. There is a high likelihood of Bitcoin for each of our transactions, so it is important.
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May 18, 2018, 01:29:36 PM
 #44

Why change it? From what it is today (A store value) thats the question you should ask Mr. Satoshi the creator of the bitcoin. It was never meant to be store value in the first place but human greed made it medium of earning huge bucks from it and letting the investment flood into it as means of earning more money.

Slowly people realised bitcoin always grow in value and thus if we just store it then we can make fortune out of it. Thats the thinking where everything went off the chart buddy. And it needs to be changed if we want devs to focus on real developments like making lightening network and making transactions free of cost.
ajochems
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May 18, 2018, 02:14:56 PM
 #45

The purpose of bitcoin is created to be act as Global currency.But now in many countries bitcoin is used as asset.If the bitcoin is accepted one of the payment,their may be huge raise  in the price of bitcoin.But for this ,we don't have surety.If Bitcoin accepted as payment through out the world. It will be good news.



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nguyenhoven
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May 18, 2018, 02:17:42 PM
 #46

That seems to be the general consensus around here at least, is it not? That we need to focus on making bitcoin an accepted form of payment at as many institutions as possible. And ASAP.

Gold is the world standard in terms of holding a value.

But nobody can take their bar of gold to a store and buy a pack of gum.

Most everybody's gold is held in a vault. You rarely get to touch it. But you don't have to. You know you can't take a bar and go buy a car. But you don't care.

These qualities of gold are quite similar to bitcoin and it's intangibility.

I think we need to start thinking about catering to a more... swiss-bank-account-holder-type so to speak.

Let the world know that you can securely store your net worth and access it at anytime, for the cost of an average banking transaction fee and I would assume that investment into the bitcoin platform would skyrocket.

Why try to change bitcoin from what it already is? A store of value.

I think it would be a much easier and saner a goal to achieve first (making bitcoin an accepted store of value), before we strain the community too much in trying to tackle an incredibly competitive payments market. I mean... those companies work on margins of fractions of a percent. They have ties with big banks and government, most of whom most likely won't want to deal with us - at first at least.

Besides, we need people to have money invested in bitcoin in order to spend it first, right?!

Bitcoin is meant to be used for transactions, therefore it's absolutely crucial in long term that it starts being used as a currency. Right now it's used mostly for speculation purposes, which is not really that great

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BeGoods
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May 18, 2018, 02:46:31 PM
 #47

Because Bitcoin has a big impact. This makes Bitcoin more familiar and helps in development. We know Bitcoin is the digital currency. We now live in a digital era where everything is connected to the Internet. There is a high likelihood of Bitcoin for each of our transactions, so it is important.

Thats right dude, we live in a digital world even today to shop many people prefer to shop online because it is simpler and time-saving, but sometimes using bank payments will be difficult to do, if you buy online overseas. bitcoin is needed because any country accept it, so I really hope all online shop can accept payment with bitcoin..
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May 18, 2018, 02:53:37 PM
 #48

Delivery of bitcoin is very fast and as the most important and profitable function that you will not get in other speculation instruments can take advantage of important access to financial services as a bridge out of poverty.
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May 18, 2018, 03:31:48 PM
 #49

Who would have thought that OP posted this back in March 12, 2011 and that we would still be fighting over Bitcoin

being a Currency or Bitcoin being a Store of Value. Just imagine if we settled this argument back then and decided that it

should only be one of the two options. We would not have had such a vibrant Bitcoin Merchant network and a lot less trading

on exchanges, if we decided to only pursue one route. Why settle for ONE, if we can have our Bread buttered on both side?

Bitcoin is so much better than other Currencies and Commodities, because it can fit into both roles, without any troubles.  Grin

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