The solution to using Bitcoin as an everyday currency

[G_Besar]

If one wants to consider Bitcoin as a means of payment the first thing to look out for is if bitcoin is friendly and well accepted in the place where you are  and if it accepted then one has the right to accept Bitcoin as other means for payment.  Accepting bitcoin for payment is an advantage to every business because it can make payment to be easy , one don't have to bother to change from bitcoin to fiat but thus can be done without Aby consideration.

Those who are willing to use Bitcoin for payment for reasons that have made it easier for them to no longer exchange it into fiat will only feel the benefits of it. While those who are willing to accept Bitcoin as a means of payment for them, the person will also feel more benefits when the price of Bitcoin increases the next day. So if we look at both parties, of course both are equally beneficial in this case, although for people who are willing to release Bitcoin into payment should not regret when they see the increase in the price of Bitcoin because it will be an advantage for those who receive it. So this is not only about whether Bitcoin is friendly or not in our own environment, but also about whether or not we are willing to use Bitcoin into payment for certain products.

[ndutndut]

I honestly would love to see Bitcoin playing it's role in transactions and serving business purposes too but since the government is unwilling to lay the foundation practices then there shouldn't be any need for pressures.It seems it's going to take a long time before the government will facilitate this promising sign for Bitcoin Investors and lovers.There're basic conditions and there're limitations to it but I'm pretty sure they understand the potential implications of legalizing that feature into e-commerce.

Government don’t really need to legalize bitcoin before the people can start practically using it on their business and for buying, government just need to give the people free will not to punish who ever chooses to use it and those who choose not to use it, that’s to say if two parties agree to use bitcoin for there business transaction they are free to do that as long as they both agree on that, but in some countries conducting a business deal in an unrecognized and approved currency can be seen as an offense.

If as you say, of course it is also against the law of the country. Every country has a reason not to legalize bitcoin as a means of transaction because the country has its own fiat when using bitcoin as a means of payment, then it is against the law. So you mean the country agrees that both parties can transact with bitcoin as long as both agree, right? but this is also against the law in that country.

So in order for people to transact with bitcoin, the country must legalize it. Because there is no other choice but that. The same thing applies in my country, bitcoin is strictly prohibited as a means of transaction even though both parties agree. Bitcoin is only intended for investment commodities such as stocks, gold, property, and others.

[_BlackStar]

-snip-

If as you say, of course it is also against the law of the country. Every country has a reason not to legalize bitcoin as a means of transaction because the country has its own fiat when using bitcoin as a means of payment, then it is against the law. So you mean the country agrees that both parties can transact with bitcoin as long as both agree, right? but this is also against the law in that country.

So in order for people to transact with bitcoin, the country must legalize it. Because there is no other choice but that. The same thing applies in my country, bitcoin is strictly prohibited as a means of transaction even though both parties agree. Bitcoin is only intended for investment commodities such as stocks, gold, property, and others.

You don't need government approval to transact bitcoins whether your country has legalized it or not. It's true that you're breaking the law if you use bitcoin as a means of payment in a country where it's not legal - but do you need to tell someone that you're breaking the law?

I think this is just something you don't need to tell anyone because only you and the recipient need to know anyway - unless your country has legalized it. You are free to promote bitcoin as a means of payment in countries where it is legal - but you should keep your mouth shut if you are using bitcoin as a means of payment in countries where it is not. This doesn't mean I'm teaching you against the law - but it's the best way to maintain privacy everywhere.

[Callido]

* What is your excuse for not adopting Bitcoin in your startup or thriving business?
* What's your excuse for not using Bitcoin to pay your bills currently?

Technically and fundamentally, there is nothing preventing the use of a Bitcoin payment gateway. However, in practice, this requires two basic conditions: First, the service on the site must have a legal activity license that allows the use of Bitcoin as a supported currency, which is not granted by most licensing authorities. Second, the targeted customer niche must be familiar with crypto payment systems and know how to use them. If these two conditions are met, site owners will be required to meet the needs of the market and thus support modern payment systems that are compatible with market conditions.

I honestly would love to see Bitcoin playing it's role in transactions and serving business purposes too but since the government is unwilling to lay the foundation practices then there shouldn't be any need for pressures.It seems it's going to take a long time before the government will facilitate this promising sign for Bitcoin Investors and lovers.There're basic conditions and there're limitations to it but I'm pretty sure they understand the potential implications of legalizing that feature into e-commerce.

Why should the government be the one's to detect if to use Bitcoin as payment option or the one's to begin the usage of it for that purpose. Bitcoin was created out of the reach of control by government, it will be against odds if individual sectors are not appreciating the use of Bitcoin instead waiting for the government to start before them. In a country were the government are not limiting people to accept the exchange of Bitcoin for payment and service, anyone can start, it takes time before others will follow the same footsteps. It will be difficult for small scale business to use Bitcoin as payment options, larger business and entities are the one's to use Bitcoin due to compensation on volatility.

[jaberwock]

I honestly would love to see Bitcoin playing it's role in transactions and serving business purposes too but since the government is unwilling to lay the foundation practices then there shouldn't be any need for pressures.It seems it's going to take a long time before the government will facilitate this promising sign for Bitcoin Investors and lovers.There're basic conditions and there're limitations to it but I'm pretty sure they understand the potential implications of legalizing that feature into e-commerce.

Government don’t really need to legalize bitcoin before the people can start practically using it on their business and for buying, government just need to give the people free will not to punish who ever chooses to use it and those who choose not to use it, that’s to say if two parties agree to use bitcoin for there business transaction they are free to do that as long as they both agree on that, but in some countries conducting a business deal in an unrecognized and approved currency can be seen as an offense.

Many people recognized it already but not yet approved by some governments, so those who deal with it can be seen as an illegal offense. There are governments that only approved BTC as an asset but not as a currency and I never heard that it was approved the other way. But it made sense since they think it can be a threat to their own currency. That being said, we can only use our BTC like a reserve for our business. Obviously there will also be no penalties for those who are not going to touch their hands on BTC. Some people are only looking at their safety and not that they are ignorant about it, so I won't blame them.

[_BlackStar]

-snip-

Many people recognized it already but not yet approved by some governments, so those who deal with it can be seen as an illegal offense. There are governments that only approved BTC as an asset but not as a currency and I never heard that it was approved the other way. But it made sense since they think it can be a threat to their own currency. That being said, we can only use our BTC like a reserve for our business. Obviously there will also be no penalties for those who are not going to touch their hands on BTC. Some people are only looking at their safety and not that they are ignorant about it, so I won't blame them.

Something that if done can make someone break the law - then it is definitely not recommended anywhere and involving anyone. I don't think there is anything that forces us to use bitcoin as a currency or a means of payment - if it is legally possible, then go ahead. I will not use bitcoin as a means of payment if my government forbids it - I obey them, but otherwise I would be happy to use it if they legalized it.

I still consider bitcoin as an alternative currency rather than just fiat - so I don't expect bitcoin to become a mainstream currency and eliminate fiat circulation. Bitcoin is useful with all its advantages - while fiat is also useful in many cases of cash payments in traditional markets everywhere. If both are adopted without disturbing each other - then of course users also benefit because they have more payment options.

[hafiztalha]

Well, I do believe that before anyone will adopt it in their business, they will consider if there are also customers that are willing to pay in Bitcoin and also if their country is Bitcoin friendly because as far as we know, there are some country that ban the open use of  Bitcoin.

In my country where Bitcoin is not ban and people are freely and openly talking about Bitcoin, I decided to accept Bitcoin in my business because I know that Bitcoin was free to be openly used in my country and I know that there were so many Bitcoin investors, although from the start, I didn't even know I will have so much customers that will pay until I placed a signage in front of my shop to announce that I now accept Bitcoin payment. That was when I started getting multiple customers paying with Bitcoin.

If one wants to consider Bitcoin as a means of payment the first thing to look out for is if bitcoin is friendly and well accepted in the place where you are  and if it accepted then one has the right to accept Bitcoin as other means for payment.  Accepting bitcoin for payment is an advantage to every business because it can make payment to be easy , one don't have to bother to change from bitcoin to fiat but thus can be done without Aby consideration.

There are many people who want to see BTC as fiat currency but there is big difference between fiat and cryptocurrency. Most of the people in the World are uneducated and they have no knowledge of cryptocurrency and BTC ,So they have no knowledge of BTC and it's future. Millions of people got benefit from that and millions of new investors will be in the market in the future. But there should be awarebess program then  BTC will be use to pay for the product. Otherwise, there will be big countries in which it will be use as investment.Fiat currency is not safe because on it government has control and BTC has no control of anyone and anyone can get it easily and transaction is easy and safe.

[ITExpert]

A whole lot of people would prefer hodling their bitcoin than spending it as a result of the growing value bitcoin possesses, the reality is that we all prefer to accumulate than transact with it because in the future your one bitcoin today has the the potential to do times 2 or more in value.

Another concern is that, true that bitcoin can be fractionalize (sotoshi) but where we could be having problems is how do I buy an item of $1 in BTC when just the transaction fee is almost equivalent to the what I am buying. In other words, bitcoin mostly fit in for transactional uses (buying and selling of items) that are with high price value like cars, sofa, house etc. or maybe I am just exaggerating.

I think Purchasing with bitcoin on low budget items can be quite challenging because its a decentralized currency so it allows users to make transactions without relying on traditional banking systems. Its beneficial for the people who has low budget especially in areas where banks are not available. Our every day small purchases like groceries, mobile data or any item can be done with bitcoin but it faces a little bit difficulty as the taxes are also implemented in equal price of the product. But bitcoin's ability to be divided into small parts make it suitable for micro transactions. Some drawbacks are also there in purchasing small items using bitcoin because transaction fees may increase when the value of bitcoin fluctuates which less economical for the budget conscious people. Its helpful for purchasing items like cars, household electrical objects etc which are costly.

[JiiBs]

* What is your excuse for not adopting Bitcoin in your startup or thriving business?
* What's your excuse for not using Bitcoin to pay your bills currently?

For most, I think it’s the volatile nature of Bitcoin which doesn’t necessarily fit into a currency that is used for running a business. Not like the products that are being sold by merchants assumes the same volatility to meet up with the thriving changes.

Merchants who accept Bitcoins for payment of goods and services must be prepared to have their trading capital dumped at some event of a bearish move and a lot of them out there don’t want that. They don’t want a currency that they can’t predict or control direct how they run their business.

We would get there when merchants get a better understand on how to manage this situation.

[AmoreJaz]

Those who are willing to use Bitcoin for payment for reasons that have made it easier for them to no longer exchange it into fiat will only feel the benefits of it. While those who are willing to accept Bitcoin as a means of payment for them, the person will also feel more benefits when the price of Bitcoin increases the next day. So if we look at both parties, of course both are equally beneficial in this case, although for people who are willing to release Bitcoin into payment should not regret when they see the increase in the price of Bitcoin because it will be an advantage for those who receive it. So this is not only about whether Bitcoin is friendly or not in our own environment, but also about whether or not we are willing to use Bitcoin into payment for certain products.

When you use your btc as payment, it means, you are ready to accept the fact that it may really increase the next day but you need to pay something using btc. You don't regret if you really is using it for payment no matter what the price is. I believe, a lot of crypto users will use btc for payment if we have more stable price. That means, low volatility. The major reason why most people are into this market owed to the high volatility which can really give them good profits if they can sell it at a much higher rate.

[Onyeeze]

That has being the way people has being using bitcoin to buy things in their countries, you have to know such thing, you can't use bitcoin without converting it to the Country currency you base, so I believe that we need to understand such that bitcoin in some countries its not legalize so you can't use bitcoin without converting it to the traditional currency of that particular country, so that's what we should ought to know about using bitcoin to purchase thing's.

[WillyAp]

It has been tried in san salvador
https://crypto.news/el-salvador-bitcoin-legal-tender-experiment-failure/