Bitcoin users: Will bitcoin ever be used and fully adapted as a currency?

[tmamin]

Hey!

Does bitcoin have a promising future?

Or will government intervention and regulation restrict bitcoin to perform as we know it?

I’m currently completing research on the current use of bitcoin. What I hope to prophesise is bitcoin’s future as a currency by asking participants their views on the current competencies of bitcoin through a few questions via a 10 minute online questionnaire.

The UK government’s response to the increasing use of cryptocurrency (AKA digital currency), is a positive one as it ‘increases banking competition in the interests of all customers. Encouraging greater innovation in payments’ (HM Treasury, 2015).
The study will gather global perspectives to answer:
 Does bitcoin has the ability to be fully adapted and used in the economy compared to other payment systems?  
Do certain attributes of bitcoin (such as security, safe guards and lack of regulation) hinder its potential to be used as a payment system or as a facilitator of investment?

Please click the link below if you wish to complete the questionnaire:

https://www.surveymonkey.com/s/bitcoinresearch1

Thank you!

[cryptocoiner]

Bitcoin already beeing used and fully adapted as a currency. Look at transaction statistics. It's growing. And bitcoin price is stable. It's good for bitcoinomics.

[tmamin]

Bitcoin already beeing used and fully adapted as a currency. Look at transaction statistics. It's growing. And bitcoin price is stable. It's good for bitcoinomics.

i dont think its used to its full potential compared to traditional forms of currency. but for sure its growing in use! also, its price only just became stable

[Wilikon]

Bitcoin already beeing used and fully adapted as a currency. Look at transaction statistics. It's growing. And bitcoin price is stable. It's good for bitcoinomics.

i dont think its used to its full potential compared to traditional forms of currency. but for sure its growing in use! also, its price only just became stable

How Long Did It Take the United States to Become an Optimal Currency Area?


There is nothing we could compare bitcoin with in human history. The word "bitcoin" meant nothing to anyone in 2009 as you are well aware, to the public at large. Of course it is not used to its full potential. That is why people like yourself can share ideas and concepts geniuses can code for everyone to use, worldwide.



I am amazed bitcoin is doing so well...

https://commerce.microsoft.com/PaymentHub/Help/Right?helppagename=CSV_BitcoinHowTo.htm

[Wilikon]

I see, based on your post history I have made a mistake replying to your thread.

[tmamin]

I see, based on your post history I have made a mistake replying to your thread.

you haven't made a mistake at all! i am gathering opinions and insights as part of my academic research. i am sorry if you think im spamming

Bitcoin already beeing used and fully adapted as a currency. Look at transaction statistics. It's growing. And bitcoin price is stable. It's good for bitcoinomics.

i dont think its used to its full potential compared to traditional forms of currency. but for sure its growing in use! also, its price only just became stable

How Long Did It Take the United States to Become an Optimal Currency Area?


There is nothing we could compare bitcoin with in human history. The word "bitcoin" meant nothing to anyone in 2009 as you are well aware, to the public at large. Of course it is not used to its full potential. That is why people like yourself can share ideas and concepts geniuses can code for everyone to use, worldwide.



I am amazed bitcoin is doing so well...

https://commerce.microsoft.com/PaymentHub/Help/Right?helppagename=CSV_BitcoinHowTo.htm

according to quite an interesting read called "the ultimate guide to bitcoin" by michael miller, there have been attempts of digital currency in the past. does anyone remember e-gold or beenz or flooz? they all failed for other reasons yet bitcoin somehow survived

[Possum577]

Pay me and I'll complete your survey.

How do you define "fully adopted" - you mean adopted, rather than adapted, right?

Is this measured by number of transactions, geographic spread of transactions, volume of BTC transacted, some declaration of another sort?

Also, will you be so kind to post the findings of your research here? We'd all benefit from reading it. And I don't think many people who come to us for polls bother to share their work with us, which leave us spending our valuable time for you but getting nothing in return.

[JarvisTechnology]

Hey!

Does bitcoin have a promising future?

Or will government intervention and regulation restrict bitcoin to perform as we know it?

I’m currently completing research on the current use of bitcoin. What I hope to prophesise is bitcoin’s future as a currency by asking participants their views on the current competencies of bitcoin through a few questions via a 10 minute online questionnaire.

The UK government’s response to the increasing use of cryptocurrency (AKA digital currency), is a positive one as it ‘increases banking competition in the interests of all customers. Encouraging greater innovation in payments’ (HM Treasury, 2015).
The study will gather global perspectives to answer:
 Does bitcoin has the ability to be fully adapted and used in the economy compared to other payment systems?  
Do certain attributes of bitcoin (such as security, safe guards and lack of regulation) hinder its potential to be used as a payment system or as a facilitator of investment?

Please click the link below if you wish to complete the questionnaire:

https://www.surveymonkey.com/s/bitcoinresearch1

Thank you!

One way or the other, most of the government will have to adapt themselves for using cryptocurrencies. Physical currencies days are pretty much over. Governments will be forced to move to digital currencies.

[tmamin]

Pay me and I'll complete your survey.

How do you define "fully adopted" - you mean adopted, rather than adapted, right?

Is this measured by number of transactions, geographic spread of transactions, volume of BTC transacted, some declaration of another sort?

Also, will you be so kind to post the findings of your research here? We'd all benefit from reading it. And I don't think many people who come to us for polls bother to share their work with us, which leave us spending our valuable time for you but getting nothing in return.

At the end of my survey, i have left my email address where you may request a copy of the final report.
I assure you that once the report is published, I will send it to whoever shows an interest.

I mean adapted - as certain traits of bitcoin are still "adapting" to the mechanics of traditional forms of currency such as regulation, legal tender, practical every day use etc. Without these traits, it won't be widely used

The survey captures current bitcoin users insights, the number and volume of transactions and other demographic variables (such as individual income correlation with volume of BTC trade). The study also depicts users use of other payment facilitators (such as paypal, google wallet etc) and if other forms of money (like cash in hand payments) have become redundant.

Please do feel free to email me amint3@culc.coventry.ac.uk for a copy of the final submission.


Please click the link below if you wish to complete the questionnaire:

https://www.surveymonkey.com/s/bitcoinresearch1

[tmamin]

One way or the other, most of the government will have to adapt themselves for using cryptocurrencies. Physical currencies days are pretty much over. Governments will be forced to move to digital currencies.

Big banks and corporations (and some governments) strongly appose digital currencies because they reap the rewards of transaction costs on normal card transactions and i guess they want a monopoly on payment processors
but youre totally right, if digital currencies become widespread in use; governments will have no choice! theres no stopping users from using bitcoin

[Xialla]

governments will have no choice! theres no stopping users from using bitcoin

may I ask you how old are you? you level of naivety is like 18 yo dude, so just want to make sure how it is..

[tmamin]

governments will have no choice! theres no stopping users from using bitcoin

may I ask you how old are you? you level of naivety is like 18 yo dude, so just want to make sure how it is..

lol my age has nothing to do with it, and i'm not naive, it's realistic

The government can't ban code. They can try to restrict it but anyone can use it who wants to. Just like before when they wanted and tried to ban file sharing they failed. Close down one site and another pops up, and then torrents came along. Now they rely on ISPs to report people who appear to be torrenting but it's all something that can be circumvented.
Yes I think there will be a bright future for bitcoin, it's still young and misunderstood.

[Marbit]

Hey!

Does bitcoin have a promising future?

Or will government intervention and regulation restrict bitcoin to perform as we know it?

I’m currently completing research on the current use of bitcoin. What I hope to prophesise is bitcoin’s future as a currency by asking participants their views on the current competencies of bitcoin through a few questions via a 10 minute online questionnaire.

The UK government’s response to the increasing use of cryptocurrency (AKA digital currency), is a positive one as it ‘increases banking competition in the interests of all customers. Encouraging greater innovation in payments’ (HM Treasury, 2015).
The study will gather global perspectives to answer:
 Does bitcoin has the ability to be fully adapted and used in the economy compared to other payment systems? 
Do certain attributes of bitcoin (such as security, safe guards and lack of regulation) hinder its potential to be used as a payment system or as a facilitator of investment?

Please click the link below if you wish to complete the questionnaire:

https://www.surveymonkey.com/s/bitcoinresearch1

Thank you!

Government is already troubled by the acceptance of bitcoin (rather crypto currency). The government might try and make it difficult for bitcoin (again, crypto currency) to really be a widely accepted currency but I think it's acceptance is inevitable.
People love decentralized currency, many might not know what it really means, but they just like the idea of the power being in their hands.
Same reason why Democracy is so predominant, most people don't even care how beneficial it is or isn't.

[tmamin]

Government is already troubled by the acceptance of bitcoin (rather crypto currency). The government might try and make it difficult for bitcoin (again, crypto currency) to really be a widely accepted currency but I think it's acceptance is inevitable.
People love decentralized currency, many might not know what it really means, but they just like the idea of the power being in their hands.
Same reason why Democracy is so predominant, most people don't even care how beneficial it is or isn't.

True! I think its a lack of knowledge, bad publicity/media coverage and low exposure of cryptocurrencies that is making the acceptance of cryptocurrencies slow and difficult.

i hope to provide more exposure of the benefits of cryptocurrency through my research

[Xialla]

governments will have no choice! theres no stopping users from using bitcoin

may I ask you how old are you? you level of naivety is like 18 yo dude, so just want to make sure how it is..

lol my age has nothing to do with it, and i'm not naive, it's realistic

they can ban in on ISP level, they can make it illegal and start chasing people using it, they can freeze bank accounts used to buy BTC...they can....

yes, theoretically they can't stop users using bitcoin, but practically they can block mass adoption..

[bumm]

governments will have no choice! theres no stopping users from using bitcoin

may I ask you how old are you? you level of naivety is like 18 yo dude, so just want to make sure how it is..

lol my age has nothing to do with it, and i'm not naive, it's realistic

they can ban in on ISP level, they can make it illegal and start chasing people using it, they can freeze bank accounts used to buy BTC...they can....

yes, theoretically they can't stop users using bitcoin, but practically they can block mass adoption..

What you are saying here is actually hijacking a system and leaving hundreds of thousands of people with empty pockets. Imagine if that happens, then how big a revolt can rise against that government who do such thing.

[Xialla]

What you are saying here is actually hijacking a system and leaving hundreds of thousands of people with empty pockets. Imagine if that happens, then how big a revolt can rise against that government who do such thing.

and this never happened before or what? ohh boy...

[JarvisTechnology]

One way or the other, most of the government will have to adapt themselves for using cryptocurrencies. Physical currencies days are pretty much over. Governments will be forced to move to digital currencies.

Big banks and corporations (and some governments) strongly appose digital currencies because they reap the rewards of transaction costs on normal card transactions and i guess they want a monopoly on payment processors
but youre totally right, if digital currencies become widespread in use; governments will have no choice! theres no stopping users from using bitcoin

Absolutely, but first bitcoins and other digital currencies needs to be promoted, and I mean in extreme ways to bring in more users in a short span of time. And also, bitcoin algorithms needs to be more secured and safe to let people trust on it completely.