What if Bitcoin is used in direct value.

[FlightyPouch]

I have always imagined how fine and pleasant it will be if we won't need to convert our Bitcoin into another currency, such that it will be spent directly in it value. At least you can spend US dollars any where within and outside the country , though this idea may not be in favour of some traders. But I feel it will bring bitcoin more universal and standing on it's direct value.whats your take about this.

It would be really great if this is happening though the problem is that it is not that widely accepted in our despite the fact that is legalized in our country. Well, we are just a third world country but still, a lot of people know about it but still not using it. Maybe because of the fact that a lot of scams are happening or maybe they are already comfortable with the exchange we are currently using since they thought they are paying bitcoin but they are not.

[Twentyonepaylots]

Many merchants, especially big companies, don't want to accept Bitcoin directly for many reasons like volatility, security, implementation costs, they prefer to outsource it to middlemen. It would be hard to convince them to accept Bitcoin directly, they would probably rather not support it at all. What we should focus on is convincing smaller businesses to abandon their middlemen, because its easier for them to do so.

Hell yeah, and these middle are being stuck on accepting or not accepting the bitcoin on which they are under pressure by these big companies. The very reason why most of the companies are not really into bitcoin directly is because of the volatility, not because it is not secured, of course it is secured due to blockchain tech. Volatility are very risky for these big companies to handle, on top of the market uncertainty and enters the question " Until when it is in demand?", it is hard to assume nor to predict.

[Coyster]

If you do not want to convert your bitcoins, then don't. There are a lot of people holding millions of dollars in bitcoins and are yet to convert it into another currency. Hodlers are another sect of people who hold bitcoins for a very long time in its digital form.

But then in the end is it wrong for one to convert bitcoins to their fiat currencies for spending? I don't think so, it's encouraging to deal with merchants who are receptive of the bitcoin, but right now in the world there are only about a handful of them, so converting your bitcoins to something else is somewhat the only option when you want to spend it, and for me it's not inimical to its(Bitcoins)development.

[LUCKMCFLY]

~snip~

It is not far from possible, financially if this handling occurs, Bitcoin will significantly increase demand, this will be reflected in the price, in fact, many countries that have inflationary problems in their economy are already considering it, but through of stable currencies created by themselves, the case of Venezuela is one that wants to implement it with the failed petro, however, if it happens in several countries, they will begin to know the scope of technology and Bitcoin, so this is not far Future is very close.

[ScamViruS]

I have always imagined how fine and pleasant it will be if we won't need to convert our Bitcoin into another currency, such that it will be spent directly in it value. At least you can spend US dollars any where within and outside the country , though this idea may not be in favour of some traders. But I feel it will bring bitcoin more universal and standing on it's direct value.whats your take about this.

If it had, it would have been good. For example, if I have to buy something from a local store, they do not accept Bitcoin. So I have to convert my Bitcoin to my local currency first. If I could buy product directly from the store with Bitcoin, that would be great. However, there are many online websites that accept bitcoin.

[Reid]

It is good but the real question is when.

The financial industry is still clinging to the traditional way which is converting it to USD or whichever the strongest country is.
They say it was them but all they did was make wars to say they are the strong ones.
It will be difficult to make it happen.
Before they do it with silvers and gold.
A piece of bread for an example as 2 silver coins or however they want to price it.

We might not even see that happen anymore or in our lifetime. Maybe our children or grandchildren will have a chance though.

[minersday]

I have always imagined how fine and pleasant it will be if we won't need to convert our Bitcoin into another currency, such that it will be spent directly in it value. At least you can spend US dollars any where within and outside the country , though this idea may not be in favour of some traders. But I feel it will bring bitcoin more universal and standing on it's direct value.whats your take about this.

First and foremost, you need to understand that there is no direct value of Bitcoin without converting it to US dollars. Bitcoin do not really have any commodity or actual product backing it. You just have to accept and understand that fiat currency like US dollar will always be used in identifying the value of the amount of Bitcoin owned by someone or you. As it stands now, Bitcoin can't actually have its own value without fiat currency.

[South Park]

I have always imagined how fine and pleasant it will be if we won't need to convert our Bitcoin into another currency, such that it will be spent directly in it value. At least you can spend US dollars any where within and outside the country , though this idea may not be in favour of some traders. But I feel it will bring bitcoin more universal and standing on it's direct value.whats your take about this.

That is the goal, right now there is a bottleneck that governments are using to limit the adoption of bitcoin, if you want to pay for something in the real world or even the Internet chances are that you will need to pay with fiat and not with bitcoin, as such they are using KYC policies to limit bitcoin holders and their property but if this begins to change and we have the chance to use bitcoin directly then it is game over and the governments will have no way to stop people to use their bitcoin as they want.

[Mulann2]

I have always imagined how fine and pleasant it will be if we won't need to convert our Bitcoin into another currency, such that it will be spent directly in it value. At least you can spend US dollars any where within and outside the country , though this idea may not be in favour of some traders. But I feel it will bring bitcoin more universal and standing on it's direct value.whats your take about this.

Yeah by the time this has happened means btc adoption has been generally accepted, which means people no longer have the need for fiat since they can buy directly using btc to buy,
As much as this may sound interesting still will take a long time to happen, many people are just getting to know btc.

[coolcoinz]

The shortest explanation is: lack of acceptance. Bitcoin can be used without being converted but there's no way to create a food chain that it would follow.
In a normal environment you spend money at a restaurant, the owner pays staff and buys products, the proucts are cooked and served. If any of these points fail and require conversion, we don't have a working chain. At this point, even things that are sold for Bitcoin like hardware wallets and miners are unable to function in a chain.

[Latviand]

IF you would clearly observe those countries to which Bitcoin and other cryptos are being widely accepted as a mode of payment, there's no need for convertion. You would be able to freely use Bitcoin just like the typical currency. And the reason to this is that, there are already companies who are accepting cryptocurrencies, they have recognized it as a digital currency being used by many people. But ofcourse, it does depend. Since there are still countries wherein it is not yet recognized, you would need to convert it first in order to fully make use of your Bitcoin.

The shortest explanation is: lack of acceptance. Bitcoin can be used without being converted but there's no way to create a food chain that it would follow.
In a normal environment you spend money at a restaurant, the owner pays staff and buys products, the proucts are cooked and served. If any of these points fail and require conversion, we don't have a working chain. At this point, even things that are sold for Bitcoin like hardware wallets and miners are unable to function in a chain.

Not to mention online healthcare services wherein cryptos are being used in every transactions. This simply means that there is progress with regards to blockchain technology adaptation. And if there will be no issues to be faced in the future, chances are high that it would eventually be accepted to more countries. And that is something worthy to anticipate.

[mk4]

IF you would clearly observe those countries to which Bitcoin and other cryptos are being widely accepted as a mode of payment, there's no need for convertion. You would be able to freely use Bitcoin just like the typical currency.

Though this is definitely preferable as it's less of a hassle for a bitcoiner, the only difference with this is that your bitcoin is converted to the local currency at the point of sale; compared to what most of us are doing currently-- manually selling bitcoin for the local currency. In both cases bitcoins are still being sold 99% of the time. Your typical merchant really won't be holding the bitcoin unless bitcoin becomes steady enough(sometime in the future).

[bhabygrim]

I have always imagined how fine and pleasant it will be if we won't need to convert our Bitcoin into another currency, such that it will be spent directly in it value. At least you can spend US dollars any where within and outside the country , though this idea may not be in favour of some traders. But I feel it will bring bitcoin more universal and standing on it's direct value.whats your take about this.

This is already happening in some countries but the problem that we have is there aren't many crypto owners that would use it that way.
It would be great but look at Laszlo Hanyecz he had been a huge icon in crypto because of what he had done in the past,
And I think most of us wouldn't do what he had done.

[maydna]

I have always imagined how fine and pleasant it will be if we won't need to convert our Bitcoin into another currency, such that it will be spent directly in it value. At least you can spend US dollars any where within and outside the country , though this idea may not be in favour of some traders. But I feel it will bring bitcoin more universal and standing on it's direct value.whats your take about this.

It's already happening but not in all countries. As long as you can find the merchant or local store which accepts bitcoin or another coin, you can use crypto to buy something. But if you cannot find it, then you should wait for some time until the local store is available near to you. We don't know when all countries use bitcoin or another coin for the payment method. Let us use this time to make more and more bitcoin as we can, so when the time comes, and we have many bitcoin, we can use it to be spent on buying something.

[South Park]

The shortest explanation is: lack of acceptance. Bitcoin can be used without being converted but there's no way to create a food chain that it would follow.
In a normal environment you spend money at a restaurant, the owner pays staff and buys products, the proucts are cooked and served. If any of these points fail and require conversion, we don't have a working chain. At this point, even things that are sold for Bitcoin like hardware wallets and miners are unable to function in a chain.

That is certainly a problem, this is why I have thought for a long time that the only way this is going to change is for a fiat currency crisis to happen, people simply have too much trust in the fiat system going on and it seems governments think they can keep deceiving people forever, but at some time that is going to end and when that happens bitcoin will be there to offer an alternative to the people and bitcoin will finally be used directly to buy all kinds of goods and services.

[ballerin and giroud]

Soon we will feel it, it is just a proccess. Bitcoin have been known by many people now and government has regulated it step by step although they are regulated it just for trading place only, hasn't been intention to use bitcoin as payment system but as I told it is just a proccess. But, there is some country who have done that, like japan and another country who have supported bitcoin. Like in my country, maybe bitcoin hasn't been used as payment system but there is some services who have used it although this service still in hide by the government but at least there always a demand foe bitcoin to be use as payment system.

[Krislaw]

I'm sure about you haven't known this as a ranked snr member of this forum
Bitcoin can be converted to and withdraw as fiat on Binance. Currencies like RUB, UAH, EUR, KZT and some others.
And you want to spend, then some shops in some countries are already accepting BTC as payment with the aid of the lightning network. More about bitcoin lightning network here:
https://bitcointalk.org/index.php?topic=4940536.0

[wozzek23]

I have always imagined how fine and pleasant it will be if we won't need to convert our Bitcoin into another currency, such that it will be spent directly in it value. At least you can spend US dollars any where within and outside the country , though this idea may not be in favour of some traders. But I feel it will bring bitcoin more universal and standing on it's direct value.whats your take about this.

The worth of any asset needs to be addressed in some form, I mean how would you know what is the worth of bitcoins if we are not going to know it's value in some standard currency. It's technically impossible for anyone to accept or buy bitcoins if they are unable to sell their bitcoins in any standard currency because ultimately any vendor would want to convert their bitcoins into fiat.

The best that can every happen is that, bitcoins could reach a position like tether where it remains the same value all the time but then it is nearly impossible to achieve that for a decentralized coin.