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Author Topic: Bitcoins Everywhere? Not yet...  (Read 7670 times)
BitMaxz
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February 14, 2017, 11:58:52 PM
 #21

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?
Also the block size debate still not finish yet and the delayed transaction..
Unlike before that we can receive bitcoin in fast few minutes we are halving a big problem with the issue of delay or slow transaction to confirm..
People are always looking for instant. they want bitcoin for other features like sending bitcoin to other country.. its more fast than the remitances.. but buying in online still not instant unlike using paypal that you can pay on time.

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February 15, 2017, 02:48:34 AM
 #22

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 guess the online shopping would be the first one to adapt bitcoin as a payment when we are going to buy something online, which really sounds great if this thing would really happen in the near future, and the next thing for sure is that everyone would use bitcoin as the main currency that we are all going to spend on our every day living. Bitcoin will be accepted all over the world because of its greatness.

Though it will take some time for this to happen, because the Government will not just allow it easily to be use by the people on different countries all over the world. For the Government, bitcoin is poison to them, because they can't touch it, and can't steal it because we have our own wallet and privacy.

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February 15, 2017, 02:53:33 AM
 #23

I think Bitcoin is not yet popular anywhere but, we we are it is about going mainstream.Take note that Japan has already approved bitcoin as a mode of payment or legal tender and so with Philippines. We are expecting other countries to follow also.The news 5 years and so are exciting for bitcoin.

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February 15, 2017, 03:38:01 AM
 #24

Bitcoin is a digital currency known as the best in the world, let it remain to be like that. If bitcoin present as a means of payment in real world, it would disrupt balance of existing financial. centralization of currency required for identity of each country (FIAT).

I mean, bitcoin entitled to engage in any business, but should remain in path of digital technology.
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February 15, 2017, 04:40:58 AM
 #25

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.
the trend of online shopping it is increase day by day even in backward area. and i am hopeful that majority of people will be using bitcoin for online service and in some place where even in local shops the facilities of bitcoin are present to use it in local shops also.
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February 15, 2017, 05:01:49 AM
 #26

I think Bitcoin is not yet popular anywhere but, we we are it is about going mainstream.Take note that Japan has already approved bitcoin as a mode of payment or legal tender and so with Philippines. We are expecting other countries to follow also.The news 5 years and so are exciting for bitcoin.

Still it is much popular in many countries, very few countries are accepting. But there are many countries who are afraid of bitcoin because it may leads to distress in their economic field. Even many government are afraid to make bitcoin as one of the payment option, May be in next 5 years we can see many countries will start using bitcoin.
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February 15, 2017, 05:09:57 AM
 #27

A while ago, I would have said any sphere where cheap micro payment were used, but lately with the scaling problems and the spam attacks on the Blockchain increasing transaction fees, I think this is not applicable any more. SegWit and the Lightning network is not getting traction and that was supposed to solve the scaling problems.

Bitcoin will have to settle for a store of value and commodity trading to survive and this will not be sustainable when block rewards halving eliminates the block rewards over time. ^hmmmmmm^

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February 15, 2017, 05:25:53 AM
 #28

Bitcoin haven't reached every place. Bitcoin usage and acceptance is found high in ecommerce. Mostly on digital goods highly available. Slowly as the volatility is decreasing merchants are showing interest to accept bitcoin into their business. Soon by the next halving we can expect around 25% of people using digital currency.

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February 15, 2017, 05:49:02 AM
 #29

Honestly bitcoin is not in everywhere. Even if you say that, most of people in the world doesn't know about bitcoin. Just ask your neighbors for it. For now, bitcoin is touching society with Information Technology (IT) knowledge. At least they use Internet or smartphone.

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February 15, 2017, 07:16:05 AM
 #30

some online services and shop already adopted bitcoin as payment ( like VPN, Hosting , domain , etc ) i think when bitcoin already spread we can use it everywhere if they accept it. just need more time

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February 15, 2017, 07:32:08 AM
 #31

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.

well fiat is backed by the printing machine and its inflationary system, if they need more fiat they just print more and create more debts out of thin air, there is no limit to this

and it's not supply and demand that give value to fait, fiat has an inititial value set by the governments, this is what make it very centralized it's 100% controlled
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February 15, 2017, 07:49:01 AM
 #32

some online services and shop already adopted bitcoin as payment ( like VPN, Hosting , domain , etc ) i think when bitcoin already spread we can use it everywhere if they accept it. just need more time
Not yet, really. Here in our country there are lots of people who dont really know what bitcoin is. May be if someone told them they will know.
Some of the people here want to earn money and if maybe there are someone that introduce bitcoin to them and they knew that everyone can earn from it, they will maybe change their minds and learn to earn some bitcoins.


 
 
 
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February 15, 2017, 08:20:42 AM
 #33

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?

whatever it is, it's going to be online.
and it has already started, we can see lots of places online that accept bitcoin as payment aka as currency.
some of them are old and big companies such as steam (the gaming platform) and some of them are big new services such as Gyft and some are smaller services that shaped up to give services to people online.
there are some offline things you can find too, such as coffeeshos, restaurants and other businesses accepting bitcoin but they are too little and in certain countries.














 

 

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February 15, 2017, 08:49:01 AM
 #34

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?

Better if bitcoin would have the online shopping and hopefully here in my country,there's a system that bitcoin can pay  the fast food chain for less hassle.

But before that, bitcoin must meet worldwide and people should recognize it .Then after that let's take  the next step for adaption.


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February 15, 2017, 08:54:46 AM
 #35

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...
yes this one is a fact.When bitcoin is officially accepted on bigger markets online or on physical markets then thats the right time to call bitcoins as a major currency because thats the time that bitcoin can actually battle with fiat on  market based.Bitcoin in this time was still not very well knowned even if bitcoins popularity is in the most.


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February 15, 2017, 09:04:24 AM
 #36

A while ago, I would have said any sphere where cheap micro payment were used, but lately with the scaling problems and the spam attacks on the Blockchain increasing transaction fees, I think this is not applicable any more. SegWit and the Lightning network is not getting traction and that was supposed to solve the scaling problems.

Bitcoin will have to settle for a store of value and commodity trading to survive and this will not be sustainable when block rewards halving eliminates the block rewards over time

It will most likely affect miners, not Bitcoin as such

If mining (as we know it today) becomes no longer profitable (e.g. due to halving), miners will start leaving en masse. That would likely cause an avalanche effect with price dropping seriously, but after a few weeks the mining difficulty readjusts until it becomes profitable to find new blocks again (and thus support the Bitcoin network ticking). Ultimately, it may be possible to mine new blocks even on typical computers, so there shouldn't in fact be long-term issues with future reward halvings

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February 15, 2017, 09:16:28 AM
 #37

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?

Well if will happened our lives will change forever because of online shopping using bitcoin as cash and also you can easily pay easy to a restaurant or any kinds of eatery and the tax of your electricity will automatically get your amount of bitcoin and decrease it for taxation bitcoin can easily make your lifestyle easy and unstressful its even worth earning for Cheesy bitcoin in the future will be glorious on accomplish everywhere you want Cheesy and make life easy and good Cheesy
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February 15, 2017, 09:21:13 AM
 #38

Out of your opinions I can assume that soon bitcoin will be able to conquer web world and businesses related to internet but I strongly believe that it won't replace fiat in our everyday life aspects, such as bills, food, transport etc.
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February 15, 2017, 09:23:34 AM
 #39

No, the base of btc is internet,but still have many people cann't access to internet!
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February 15, 2017, 09:26:00 AM
 #40

Out of your opinions I can assume that soon bitcoin will be able to conquer web world and businesses related to internet but I strongly believe that it won't replace fiat in our everyday life aspects, such as bills, food, transport etc.

i think many others also agree on this. bitcoin can not conquer fiat world and replace it completely and will always remain option number two in the real world.

but it can easily replace fiat when it comes to online payment. because all the options we have in online payment are bad compared to bitcoin. they all lack security, privacy and if fees don't go high we can still consider bitcoin to be cheaper.


 
 
 
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