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Author Topic: What would trigger the ecomomics to actually use Cryptocurrency?  (Read 494 times)
FlashJohnathan2203 (OP)
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June 10, 2020, 04:33:36 PM
 #1

From the beginning of Bitcoin and Cryptocurrency, there were a lot of applications of Cryptocurrencies that people can think of. They even made a list of what Cryptocurrency can and possibly be able to do.
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  • Investment
  • Mining
  • Paying for service
  • Purchasing for goods
The two things I am wondering is using Bitcoin or Cryptocurrency as a payment method. I'm sure that everyone has used them to pay things before but the applications in that field aren't that much. What I am asking is that what needs to happen to trigger the governments, the big cooperations, or the people themselves to start using Bitcoin as a main Payment method?
avikz
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June 10, 2020, 06:18:33 PM
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What I am asking is that what needs to happen to trigger the governments, the big cooperations, or the people themselves to start using Bitcoin as a main Payment method?

In case of global massacre and nuclear war between US and China! Otherwise I don't see governments using bitcoin as a main payment method in our lifetime. It's not a preferred payment method for governments because they don't have ability to control it. So it's not gonna happen ever. Also bitcoin can't be scaled to that level where the world population would be able to use it. It would congest the network to such level, where everything will be stalled.

Bitcoin is not magic. It has its limitations and we must stay within that. It was never created to become the global currency or global payment method.

of darns
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June 10, 2020, 06:28:26 PM
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From the beginning of Bitcoin and Cryptocurrency, there were a lot of applications of Cryptocurrencies that people can think of. They even made a list of what Cryptocurrency can and possibly be able to do.
Quote
  • Investment
  • Mining
  • Paying for service
  • Purchasing for goods
The two things I am wondering is using Bitcoin or Cryptocurrency as a payment method. I'm sure that everyone has used them to pay things before but the applications in that field aren't that much. What I am asking is that what needs to happen to trigger the governments, the big cooperations, or the people themselves to start using Bitcoin as a main Payment method?
It probably will not happen. Instead, Bitcoin and cryptocurrencies will continue to serve as an alternative to fiat.
cabron
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June 10, 2020, 06:31:51 PM
 #4

From the beginning of Bitcoin and Cryptocurrency, there were a lot of applications of Cryptocurrencies that people can think of. They even made a list of what Cryptocurrency can and possibly be able to do.
Quote
  • Investment
  • Mining
  • Paying for service
  • Purchasing for goods
The two things I am wondering is using Bitcoin or Cryptocurrency as a payment method. I'm sure that everyone has used them to pay things before but the applications in that field aren't that much. What I am asking is that what needs to happen to trigger the governments, the big cooperations, or the people themselves to start using Bitcoin as a main Payment method?

The spread of corona virus?  Right now its encourage to use cashless transaction so we can avoid the spread of it and basically we need not just the current payment mode such as paypal and alipay but something that anyone can use even the unbanked and probably cryptocurrency may be used by big companies like what we just heard with coca cola in AUS and NZ.  Cryptocurrency will play a role to hopefully stop the number of deaths.

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