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vaxo_nba
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February 14, 2017, 05:20:25 PM
 #1

Most of the members consider bitcoin as major currency of future. Let us assume that it will be accomplished one day, but before that, I wonder which spheres of our everyday life will adapt bitcoin first?
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February 14, 2017, 05:29:13 PM
 #2

Most of the members consider bitcoin as major currency of future. Let us assume that it will be accomplished one day, but before that, I wonder which spheres of our everyday life will adapt bitcoin first?

Online shopping will be the next step after online gambling.  Then its down to the current banking industry if they want to provide services around bitcoin or fight it.  There are many social change benefits, too many to list.


     
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February 14, 2017, 05:34:12 PM
 #3

Most of the members consider bitcoin as major currency of future. Let us assume that it will be accomplished one day, but before that, I wonder which spheres of our everyday life will adapt bitcoin first?

I think the remittances is a done deal and that the next step will be when gold bugs realise that Bitcoin is gold 2.0 and jump in.   Grin
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February 14, 2017, 05:37:38 PM
 #4

Anything you pay for online would be the obvious first area that would be affected, this includes shopping, gambling, payments to people and so on.

In the real world it could be used everywhere, just looking at bitcoin as an idea it could be used in almost everything we do daily, give it 5 years and we will see where we are.

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February 14, 2017, 05:58:40 PM
 #5

Maybe Bitcoin will not be dominant currency in the future because fiat will be not put of the throne but it will probably be much more adopted and spread then it is today, at first place in shopping and different online services. Maybe also in high technology and IT industry.

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February 14, 2017, 06:05:04 PM
 #6

Most of the members consider bitcoin as major currency of future. Let us assume that it will be accomplished one day, but before that, I wonder which spheres of our everyday life will adapt bitcoin first?

Since online world is obviously the main line of bitcoin transactions then all online related things associated with our daily life will be the one who will get the most of it. It will include online shopping (which actually present now), online payments (e.g bills, fees, reloads etc), money transfers (local, foreign and everything about remittances) and many more.

After that I think electronical payment or e-payment will be the next one and that will include physical payments such as when you buy at groceries, payments at physical shop or merchants, mall shopping, restaurant or mini cafe etc, transportation etc.

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February 14, 2017, 06:25:07 PM
 #7

Like everybody else i agree on the online shopping as next big market, but there is more. Everyone and every business that deals with different countries and currencies has big potential. Imagine how cool it would be if you could pay on every airport with Bitcoins. The whole Tourist industry is a big target. Think of tourist hots spots like the Taj Mahal where you could pay in Bitcoin. Say you fly to India for a nice week. At your local airport you buy some coins for the trip and fly to India, where you can pay in the duty free shops with Bitcoin, then take a pre paid cab to your hotel also paid in Bitcoin (The cab, as you booked and paid the hotel from home). Now you can visit some tourist places and pay in Bitcoin for the admission and also for the food in the restaurants around the tourist attraction (since they obviously adopted Bitcoin to make it easy for their customers). And when you return, you can spend your last coins, give it to charity or keep them for your next trip (best case scenario is that your coins will be even more worth then) or a domestic growing Bitcoin economy. How cool would that be?!

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February 14, 2017, 06:35:10 PM
 #8

First to adopt were the casinos and more of them will start accepting it soon. Next the online shops that doesn't accept it yet, but I believe soon they will start accepting also. When this happen it will be already enough, we can buy any kind of stuff on the internet, online.
Fiat could be used only to pay our daily expenses, like bills and food, all the rest of our money could values more in bitcoins to buy products that we want to have, but that aren't primordial, like electronics, clothes, accessories, virtual stuff...

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February 14, 2017, 06:53:51 PM
 #9

Most of the members consider bitcoin as major currency of future. Let us assume that it will be accomplished one day, but before that, I wonder which spheres of our everyday life will adapt bitcoin first?

I think the remittances is a done deal and that the next step will be when gold bugs realise that Bitcoin is gold 2.0 and jump in.   Grin

They obviously won't

Gold bugs are there to store value, not to speculate (i.e. they are there not for profits). This is a conceptual difference, one of kind and not of degree, therefore it is unlikely to happen (if only some of them are not traders beyond being gold bugs). Regarding the question in the OP, we basically already have three spheres, i.e. Bitcoin gambling (as mentioned above), trading and banking (including remittances). But these were available as soon as Bitcoin got some traction in 2010, but since then nothing has been added to this group of applications, so it is really hard to say

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February 14, 2017, 07:15:52 PM
 #10

Nowadays i dont know what anyone would use bitcoin for  other than for speculative reasons. It gains value because a lot of people now see it as something they can buy into and earn money on. I mean being realistic, at this rate its certainly never going to be used as a currency and it doesnt really offer anything better over its competitors anymore. I can send paypal payments with no transaction fee and it arrives as soon as i send it,Non reversible payments arent going to sway people into swapping from banks/credit cards/paypal and some might even be put off by it.  Those who hold gold may buy into it if it becomes stable enough with much slower rises and drops in price but the majority of people arent going to buy into it when there are no real advantages.

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February 14, 2017, 09:33:46 PM
 #11

We can consider that gambling and darkest spheres of the Internet is a success. The next step is the online shopping for non-physical goods, then physical goods. What will go next, I do not know.
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February 14, 2017, 09:43:49 PM
 #12

Its use will expand first in the online shopping business, in fact there is already a considerable number of website owners making this happen. After this we will see a number of physical stores using it. I think that influential people in the technology sector will also play an important role in this, especially if their companies start to pay their employees in Bitcoin.
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February 14, 2017, 09:45:41 PM
 #13

There are currently thousands of service providers offering Visa/Master cards and there are bunch of other payment methods or E-cash that are more acceptable than bitcoin worldwide, what I'm trying to say is why would you want to be on hold just because some company doesn't accept bitcoin and stay behind the modern world? best thing we can do is to exchange our btc to those fiat based payment processors and use them to do our shopping and purchase whatever we want.
Selling btc for local currencies are very easy, if people couldn't do that then we'd have some serious problem.

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February 14, 2017, 10:33:40 PM
 #14

of course online shop and all online payment method. then offline shops will be interested to apply such thing in their shops. imo. just like the restaurants or goods shop. and I think the next one will be university because here in my country, we need to transfer the tuition fee via bank.


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February 14, 2017, 10:35:47 PM
 #15

The most common thing to happen in bitcoins is being accepted on online shops before being accepted in physical markets in ourcountry land.But pretty sure that will take alot of time to be fulfilled.

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February 14, 2017, 10:43:31 PM
 #16

The most common thing to happen in bitcoins is being accepted on online shops before being accepted in physical markets in ourcountry land.But pretty sure that will take alot of time to be fulfilled.

Yes I agree, thats the common things to happen but shops here in my place were not yet adopting it right now, I only saw one convenient store has bitcoin cash in option but doesn't knew the bitcoin payment options that can be paid for every goods. For now maybe it was just starting but it could wait time to be implemented here in my country, and that would be exciting to happen for our place soon.
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February 14, 2017, 10:48:54 PM
 #17

Most of the members consider bitcoin as major currency of future. Let us assume that it will be accomplished one day, but before that, I wonder which spheres of our everyday life will adapt bitcoin first?
Not really, I don't think most people see it as a currency to replace fiat, not with a ten minute confirmation time.

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February 14, 2017, 10:55:30 PM
 #18

If we want to see bitcoin accepted everywhere we need to eliminate some problems first:

- there is no enough network capacity to process all transaction in case of major adoption spike
- using bitcoin is still problematic because you either need to use an exchange or will be limited to very few "direct buy" options
- bitcoin adoption is at the moment 99% online thing, how many brick and mortar businesses accepting  BTC do you know?


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February 14, 2017, 10:58:10 PM
 #19

Most of the members consider bitcoin as major currency of future. Let us assume that it will be accomplished one day, but before that, I wonder which spheres of our everyday life will adapt bitcoin first?
Not really, I don't think most people see it as a currency to replace fiat, not with a ten minute confirmation time.

Bitcoin won't replace fiat. The reason why is because Bitcoin needs the cashflow in order to be worth something. Nobody want's Bitcoin if it is worth nothing, BTC isn't even backed by anything...just data and that data could get wiped within nano-seconds if there was an attack.

Unlike Gold that is backed by Gold and the limited quantity, people will find it too late to purchase when there isn't any in demand. Bitcoin is worth nothing, the price per Bitcoin is just a mirage. Warren Buffet is right in a sense.

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February 14, 2017, 11:52:14 PM
 #20

Most of the members consider bitcoin as major currency of future. Let us assume that it will be accomplished one day, but before that, I wonder which spheres of our everyday life will adapt bitcoin first?
Not really, I don't think most people see it as a currency to replace fiat, not with a ten minute confirmation time.

Bitcoin won't replace fiat. The reason why is because Bitcoin needs the cashflow in order to be worth something. Nobody want's Bitcoin if it is worth nothing, BTC isn't even backed by anything...just data and that data could get wiped within nano-seconds if there was an attack.

Unlike Gold that is backed by Gold and the limited quantity, people will find it too late to purchase when there isn't any in demand. Bitcoin is worth nothing, the price per Bitcoin is just a mirage. Warren Buffet is right in a sense.
Well you are wrong on many points, just like FIAT it is not backed by anything but it is a limited quantity just like but the demand vs limited supply is what gives the price. The security of the network and just like our stocks and 90% of cash (it is all logged digitally) its just data, but each bitcoin wallet has the ledger information, as a backup.

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