Even now in 2017, why is bitcoin *still* not accepted as a major currency?

[Captimiz]

Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now.

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[franky1]

bitcoin has no arms. no legs and no voice.

bitcoin will not be accpted in your local town store if you simply sit on yor hands and hop bitcoin somehow drops in and talks to your local stores manager.

bitcoin only grows as a real world currency if those that want it in their local stores, actually themselves go into their local stores and help the local stores be bitcoin acceptable.

this means YOU (anyone reading this that wants their local store to accept bitcoin)

[Meuh6879]

because, Bitcoin, it's this :























And this, too ...























So ... ouch ?

[Captimiz]

bitcoin has no arms. no legs and no voice.

bitcoin will not be accpted in your local town store if you simply sit on yor hands and hop bitcoin somehow drops in and talks to your local stores manager.

bitcoin only grows as a real world currency if those that want it in their local stores, actually themselves go into their local stores and help the local stores be bitcoin acceptable.

this means YOU (anyone reading this that wants their local store to accept bitcoin)

Surely plenty of people did this in the last 5 years?

[mindrust]

Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now.

We are not seeing it as a currency for the same reason that we are not seeing gold coins or Apple shares as a currency.

Bitcoin isn't a currency. It is a highly mobile commodity. You can pay in bitcoins but the seller actually wants $$$ , not btc.

[Fed74]

It's not accepted because currency does not have violent swings in value. What other currencies go up or down as quickly as digital currency? If I'm a business owner I can't say a book is 0.01 BTC, and one day it's worth $12 and the next $10. Large swings in the market would kill businesses

[bitbunnny]

The answer is simple, because fiat currencies are still the major and that is how it will stay. For various reasons virtual currencies including Bitcoin can't just replace fiat currencies because the world financial system couldn't function that way and that would require changes that just are not possible. But no matter to that Bitcoin is accepted, not maybe that widely as we would like to but in the upcoming years it could become more equal to fiat money. Many people use it and more will begin to use it, so that is success.

[c789]

Because most people don't know about it or its benefits.

It's up to us to spread the word.

[Biodom]

bitcoin has no arms. no legs and no voice.

bitcoin will not be accpted in your local town store if you simply sit on yor hands and hop bitcoin somehow drops in and talks to your local stores manager.

bitcoin only grows as a real world currency if those that want it in their local stores, actually themselves go into their local stores and help the local stores be bitcoin acceptable.

this means YOU (anyone reading this that wants their local store to accept bitcoin)

why would i care if bitcoin is accepted in a local store?
In it's current state it would be COMPLETELY retarded

A Scene at my local grocery:
me: let me pay for my milk with bitcoin here
cash register person: Hmm...OK
me: I scanned my bar code, so it is done
cash register person: i don't see a confirmation
me: let's wait a little
people in line: grumble, grumble, grumble
cash register person: Mr, please stay aside
me, 13 min later: what's the heck...forget about it...here is $5

[Arksun]

I'd still say its more about convenience than anything.

Most people earn money in FIAT, so its more convenient to pay for goods in it than having to convert to a different format first.

And even for those who already hold Bitcoin, it simply cannot compete with the speed of transaction of a debit card, especially a contactless debit card which takes literally 1 second at the till to pay for your goods.

If at some point Bitcoin can do that, if I can have a plastic card that I just wave over a reader (or wave phone over reader doing it contactless that way) then boom, finally FIAT has some real competition in buying goods.

[franky1]

Surely plenty of people did this in the last 5 years?

in my area, i can buy food pay bills and live happily on bitcoin..
.. oh wait. now i remember i been in bitcoin since 2012 and over the time I spoke to my local stores and hlped them out.

there are a few towns around the world that do have many bitcoin accepting retailers. everything from clothes, electronics, meals and snacks. etc
.. but these are because people helped the retailers set it up. either by a bitcoin being a employee of the retailer or a regular customer in most cases

unless you have many people in your town that are talking to merchants for you.. if you want something. you are going to have to ask for it yourself.
again bitcoin is just code. no legs, no arms.

it cannot get on a plane and come to your town. its something you have to do.

too many people sit their waiting for magic.
and they wait
and they wait
and they ask
"Even now in 2017, why is bitcoin *still* not accepted as a major currency?Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now."

and they dont seem to understand that their local shop doesnt know that you want bitcoin accepted in their store because you never helped them to be able to accept it.

my advice:
do not sit there waiting for magic.

instead find out if there are other bitcoiners in your area and arrange a meetup at a bar/cafe to discus bitcoin. find out the main retailers in your area that all of you use (most popular retailers to actually benefit from accepting bitcoin due to regular customers) and then out of your group find out the most confident person who can help set things up and go to the retailer and help them.

the best successes are not to speak to managers of branches of national/international retailers as they are just glorified supervisors with no actual local power to make changes.. instead look for the non franchised independant stores where the manager does have decision power over payment methods

[r32godzilla]

The popularity of bitcoin is very limited and very few people have heard about bitcoins and very less are using it and it will take a long time for it to reach to different places and I think people who are part of this forum only knows about bitcoins and rest are still unaware.

[NUFCrichard]

Surely plenty of people did this in the last 5 years?

in my area, i can buy food pay bills and live happily on bitcoin..
.. oh wait. now i remember i been in bitcoin since 2012 and over the time I spoke to my local stores and hlped them out.

unless you have many people in your town that are talking to merchants for you.. if you want something. you are going to have to ask for it yourself.
again bitcoin is just code. no legs, no arms.

it cannot get on a plane and come to your town. its something you have to do.

too many people sit their waiting for magic.
and they wait
and they wait
and they ask
"Even now in 2017, why is bitcoin *still* not accepted as a major currency?Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now."

and they dont seem to understand that their local shop doesnt know that you want bitcoin accepted in their store because you never helped them to be able to accept it.

my advice:
do not sit there waiting for magic.

instead find out if there are other bitcoiners in your area and arrange a meetup at a bar/cafe to discus bitcoin. find out the main retailers in your area that all of you use (most popular retailers to actually benefit from accepting bitcoin due to regular customers) and then out of your group find out the most confident person who can help set things up and go to the retailer and help them.

the best successes are not to speak to managers of branches of national/international retailers as they are just glorified supervisors with no actual local power to make changes.. instead look for the non franchised independant stores where the manager does have decision power over payment methods

Where I live you can't do that. It serves as a store of value, but a very volatile one at that.

I don't expect bitcoin to really replace conventional currencies, it can't. It is too hard to secure, too slow and not scaleable at the moment.
If it were really used by the masses, which is 99.99999% isn't, it would fall under it's own weight almost immediately.

I don't know a single other person who owns Bitcoin, almost no one knows what it even is, why it is good and they have no idea how to buy it! They think you need to mine it!

[Bit_Happy]

Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now.

Bitcoin is not ready to be a "major currency", and 'we' are currently moving in the wrong direction. The forkin' mess needs a solution soon, IMO.

[Meuh6879]

A Scene at my local grocery:
me: let me pay for my milk with bitcoin here
cash register person: Hmm...OK
me: I scanned my bar code, so it is done
cash register person: i don't see a confirmation
me: let's wait a little
people in line: grumble, grumble, grumble
cash register person: Mr, please stay aside
me, 13 min later: what's the heck...forget about it...here is $5

Oh Please ... always the same excuse.



In the real world, no seller wait a confirmation with things bellow 200 USD ...

double-spend is not possible when you don't use the blockchain.info junk blockchain reader that it displays transactions that they don't exist in the MEMPOOL.

In French forum, the majority of (wrong) falses transactions (too low fees) is because noobs use blockchain.info to see if transaction exist.

[xFiber]

I think the high fluctuations and unstability in general is a really big factor regarding this matter. In my country het majority of people who have hear of bitcoin think it's an online currency for criminals to buy illegal products/services.

[dejavuboy]

cuz of
Bitcoin is not "still" authorized

[Raja_MBZ]

That's because its decentralized, no one owns it. No one cares to tell about it to other people, but only wants its value and volume to get higher.

Bitcoin might trounce conventional currencies in an unspectacular way, but it could take time.

[pinkpanther03]

Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now.

Bitcoin so far is not accepted as currency in majority of the country only for digital payments. Its the reality things happen, therefore so I think it will take many more years before it become a major currency, due to many community are still not ready to accept it massively.

[BitcoinHodler]

bitcoin has no arms. no legs and no voice.

bitcoin will not be accpted in your local town store if you simply sit on yor hands and hop bitcoin somehow drops in and talks to your local stores manager.

bitcoin only grows as a real world currency if those that want it in their local stores, actually themselves go into their local stores and help the local stores be bitcoin acceptable.

this means YOU (anyone reading this that wants their local store to accept bitcoin)

Surely plenty of people did this in the last 5 years?

you'd be surprised to find out how many are actually sitting on their hands and waiting for someone else to do it for them.

you keep hearing people say "i wish .... accepted bitcoin" the you ask "..." why don't you accept bitcoin, they answer "nobody told us they want it"!!!

i asked some people about how many of them actually asked businesses to accept bitcoin and those who said they did were so few!
maybe people think merchants are mind readers.

[naughty1]

There are many reasons for that to exist. Actually, bitcoin is not fully developed and strongest. It is still in the renovation phase. Segwit is a very good stage, however it was not passed, which made bitcoin have to undergo another phase to develop. And recently, bitcoin once again encountered the event. It's split into two, I'm not sure what's going to happen yet, but I find the value of bitcoin is going down dramatically. This should not happen to such a large coin. It has entered the legal stage, but it has another difficulty, it is difficult to overcome.

[xuan87]

It is not that simple to ask somebody to used bitcoin, the reputation of bitcoin is not too good at outside there are so many negative publicity about bitcoin, so some people rejected the bitcoin, we still need to keep on introducing and bring positive news to the public, bitcoin is a very useful and helpful currency but some people like to used for illegal things

[ekoice]

High adoption should be made possible.Bitcoin should be made familiar to shop owners and general people.Then only,i would have a chance of being accepted as a major currency.Its highly volatile nature is also a reason for it not being accepted as a major currency.

[Kprawn]

Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now.

It will not happen until the scaling problems are solved and until more people vote for a government that would support Bitcoin. Most

governments use money to control people, and Bitcoin takes away that power if they do not regulate it. So a lot must happen before Bitcoin

would be allowed as a reserve currency. First thing you have to do, is not to vote for a government that wants to stop Bitcoin use. 

[Xester]

Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now.

Do not expect for any cryptocurrency to replace the fiat currency. Even bitcoin cannot replace fiat currency and will remain only a currency online. In the future if all sectors of the society will accept bitcoin as mode of payment it will still not replace fiat currency. Its value will still be determined by the fiat currency and as long as it is not independent from fiat currency it can never be the universal legal tender. Bitcoin and other digital currencies are weak since it is dependent on internet and is very prone to hacks and viruses or technical errors that may be a huge problem in the future, thus the central banks all over the world could not allow such kind of risky currency to serve the world as an official legal tender.

[Zicadis]

for the same reason the etf was not approved is because its a decentralized currency
merchants will also be reluctant to use it because of its volatile nature unless we have over 5 or 10 million active users for their businesses to benefit from  

[ethereumhunter]

Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now.

i am not sure for now, bitcoin need more to replace conventional currencies, people should use bitcoin in every where and need to be approve by the government. but if its just for the internet currency, i think bitcoin will be stronger than other because of the easy and simple to use bitcoin and we should help bitcoin to be known by many people.

[Sadlife]

Because bitcoin has a volatile price and governments wont accept it if they have no control of this currency that is run by the people itself so they rather stick to their fiat currencies.

And also that's why the etf was not been approved because of its decentralized and it's anonymous features they said before they approved the etf they need one requirement: to be able to track the users that's using this currency.

[shamzblueworld]

The simplest answer would be because it is not user friendly as of yet, so transactions that take time are not feasible for normal people in normal daily life barter system.
So I think it has to improve a lot before it is acceptable at local stores world wide. Its not people, its the bitcoin and the technology that is not letting it compete with fiat as of yet.

[iram3130]

Most of the people who earn or buy Bitcoin, don't want to use it as a currency. Although it is a currency and holds good value but people think it as an investment rather than using it.
I have talked some merchants who use it as a payment gateway, they actually fear of dump and pump.. 

[HarringtonStark]

There are more and more people using bitcoin. Bitcoin is the top currency in deep web. I promote the currency in my blog to increase awareness and in my YouTube channel too I promote it. Give it time it will catch up.

[ASHLIUSZ]

Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now.

i am not sure for now, bitcoin need more to replace conventional currencies, people should use bitcoin in every where and need to be approve by the government. but if its just for the internet currency, i think bitcoin will be stronger than other because of the easy and simple to use bitcoin and we should help bitcoin to be known by many people.

Yeah as it's found to be the internet currency, bitcoin needs more time to go mainstream. Being a mainstream currency is not that simple. It takes years and years to get a stability in the growth as well to go mainstream. When you consider gold or USD the history it has made is very big history to hold the place.

[Yokozuna]

I think bitcoin is still not accepted as major currency in the world because we have so low blocksize capacity and there's no chance we can get it any time soon

[theochino]

why would i care if bitcoin is accepted in a local store?
In it's current state it would be COMPLETELY retarded

A Scene at my local grocery:
me: let me pay for my milk with bitcoin here
cash register person: Hmm...OK
me: I scanned my bar code, so it is done
cash register person: i don't see a confirmation
me: let's wait a little
people in line: grumble, grumble, grumble
cash register person: Mr, please stay aside
me, 13 min later: what's the heck...forget about it...here is $5

Right there is the problem ... couldn't be better explained !

[Herbert2020]

Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now.

as far as i can remember bitcoin has never been planning on "replacing" conventional currencies. you can see topics about when will it happen but they are just random users talking about it.

and the reason it is not accepted as a currency yet are these:
- people don't want to spend their coins, they want to HODL and make profit (more fiat!!!).
- the price is volatile so that may scare some people from seeing bitcoin as a currency.
- there aren't enough shops accepting it and the big ones like Amazon for example doesn't still allow bitcoin.

A Scene at my local grocery:
me: let me pay for my milk with bitcoin here
cash register person: Hmm...OK
me: I scanned my bar code, so it is done
cash register person: i don't see a confirmation
me: let's wait a little
people in line: grumble, grumble, grumble
cash register person: Mr, please stay aside
me, 13 min later: what's the heck...forget about it...here is $5

Right there is the problem ... couldn't be better explained !

actually he is explaining a very hypothetical situation. and if you or him ever tried buying something with your bitcoin in real life you could have known this too.

[UCHCHILD]

Maybe because bitcoin still need more improvement especially in terms of long transaction process.We cannot guarantee those transaction with slower confirmation.

[taxmanmt5]

Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now.

It is because bitcoin is not yet authorize by each government and there were countries that banned of using it so people are trying to talk less it I guess that is one reason. And some might think its an illegal source of money. But soon everyone will change their point of view and bitcoin will be accepted as major currency.

[Tyrantt]

Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now.

The price of the bitcoin itself is one of the issues why businesses aren't accepting it just like that. Today he invests over 100k dollars into btc, tomorrow the price drops from 1200$ to 900$ and he has lost money, and no one likes loosing money. So, he'll keep it safe and not invest ito btc right now or not so much. I've talked to the few businesses about implementing bitcoin and one issue that all of them stated was the significant price drops and rises.

[rajasumi3]

Price of bitcoin is not stable at all. Even if the price of bitcoins hit high so much , the price of bitcoins have gone down a lot and there s nothing that the price of bitcoins would go up at all or not .we have to wait and see whats next .

[numismatist]

Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now.

We are not seeing it as a currency for the same reason that we are not seeing gold coins or Apple shares as a currency.

Bitcoin isn't a currency. It is a highly mobile commodity. You can pay in bitcoins but the seller actually wants $$$ , not btc.

All three come close to a currency, bullion coins since millennia, Apple shares just since some decades and Bitcoin since years. People recognized their value! Just to "replace" a currency you would need to apply lethal force. Something "official" in the workings.

[Arksun]

In the real world, no seller wait a confirmation with things bellow 200 USD ...

Is this the #alternativefacts real world you're on about?  Because in the actual real world I live in, buying things like drinks at a cafe using Bitcoin the checkout person DOES wait for at least 1 confirmation, and the process isn't anywhere near as fast as you'd like people to believe.

Lets get a bit of realism in here, Bitcoin has a long long LOOOOONG way to go to challenge the likes of VISA as an everyday purchasing tool.
Would I like to see Bitcoin be as good as VISA? hell yes that would be amazing! Because I like Bitcoin, but does it currently?  hell no.   Should it?  Well, maybe or maybe not, maybe Bitcoin should never try to be like VISA at all, maybe thats not its calling.

[Silberman]

Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now.

Revolutions happen not at the speed we like but at the speed they can, bitcoin is gaining ground slowly, I think almost everyone in the forum would like this to be faster but it is what it is and we don't have too much of a choice but to wait for it.

[franky1]

Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now.

Revolutions happen not at the speed we like but at the speed they can, bitcoin is gaining ground slowly, I think almost everyone in the forum would like this to be faster but it is what it is and we don't have too much of a choice but to wait for it.

wait for who/what

oh for bitcoin to grow legs and a voicebox and walk into your local store and have a word with the manager..

remember YOU being here having bitcoin makes YOU part of bitcoin. if YOU want YOUR local store to accept bitcoin YOU and people near YOU and YOUR local store need to be the arms and legs and voicebox for bitcoin.

bitcoin protocol is just code. not a sentient being.

i done my part i can buy food pay bills etc and helped a few businesses and individuals with bitcoin. i havnt needed to look at my fiat bank balance since 2012-2013

if everyone done something in their area the butterfly effect would see faster results.
if everyone sat on their hand waiting for bitcoin sentient protocol to do it all....... well.. you can wait as long as you like

[ASHLIUSZ]

Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now.

Revolutions happen not at the speed we like but at the speed they can, bitcoin is gaining ground slowly, I think almost everyone in the forum would like this to be faster but it is what it is and we don't have too much of a choice but to wait for it.

wait for who/what

oh for bitcoin to grow legs and a voicebox and walk into your local store and have a word with the manager..

remember YOU being here having bitcoin makes YOU part of bitcoin. if YOU want YOUR local store to accept bitcoin YOU and people near YOU and YOUR local store need to be the arms and legs and voicebox for bitcoin.

bitcoin protocol is just code. not a sentient being.

i done my part i can buy food pay bills etc and helped a few businesses and individuals with bitcoin. i havnt needed to look at my fiat bank balance since 2012-2013

if everyone done something in their area the butterfly effect would see faster results.
if everyone sat on their hand waiting for bitcoin sentient protocol to do it all....... well.. you can wait as long as you like

What's been quoted is the true and clearly portrayed how bitcoin can be moved towards the list of major currency. In reality very few in specific location of few countries get such an accessibility to get everything with bitcoin. For other there is no other go, they need to depend on fiat. So the history of surviving along with adoption is the only hope to make it a major currency.

[kidoseagle0312]

Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now.

Because there are lot of people still don't know the real catch of bitcoin. Especially, the volatility of bitcoin is the reason sometimes why some of the business company don't like to absorb and accept bitcoin, due to maybe they are afraid of the fluctuation that they might gonna lose in the end.

[poplolnman]

Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now.

Because there are lot of people still don't know the real catch of bitcoin. Especially, the volatility of bitcoin is the reason sometimes why some of the business company don't like to absorb and accept bitcoin, due to maybe they are afraid of the fluctuation that they might gonna lose in the end.

people especially common people who have a lot of fear about how bitcoin price at the highest price among any other currency make them worry and have to think more than once to start adopt bitcoin technology as their new financial system. to make a mass adoption we can't expect it in the near future , it cost long time . so far so good but the time is not coming and right yet for now.

[Schuyler]

We have to admit that bitcoin is primarily an investment for many of the bitcoin holders and only use it as a currency for certain transactions. The stability of a currency plays a big role in determining how it can be considered a major currency, which bitcoin doesn't have at the moment because of its volatile nature.

[btcjoin14]

Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now.

It makes a whole lot of sense that Bitcoin isn't accepted a a major Currency because the people inside the world don't really know about it yet.
Most of the People think that the next digital currency will be backed by gold or something that the Chinese will integrate in their Currency and people will lose their money because USD isn't "Valuable" anymore.

If Bitcoin was well known then the people who decide a what is Currency will be have to list it as a Currency whether it's underground or not.

[bryant.coleman]

Bitcoin is still not accepted as a major currency due to a wide range of reasons. First and foremost is the lack of government recognition. This scares off the businesses, who want to accept payment in BTC. They don't know whether it is legal or not to do so. Second reason is the volatile exchange rates, which can be avoided only if a payment processor is used. And another reason is the elevated risk of funds getting stolen from the wallets.

[emezh10]

Bitcoin is still not accepted as a major currency due to a wide range of reasons. First and foremost is the lack of government recognition. This scares off the businesses, who want to accept payment in BTC. They don't know whether it is legal or not to do so. Second reason is the volatile exchange rates, which can be avoided only if a payment processor is used. And another reason is the elevated risk of funds getting stolen from the wallets.

I agree. Bitcoin for me nowadays are so very bad in terms of value because the value itself are changing again minute to minute. It doesn't stays. And especially many government officials doesn't accept it because of some reasons. Because bitcoin is not especially tested and we don't know what happen if it's value got lower than now. All I can say is our currency today is very good and I think bitcoin will not replace it. And one factor is the value of our currency now is still and do not change minute by minute.

[andrew24p]

Changing the word takes time, 8 years is no time at all. I dont think it will completely replace other currencies but it will add value to more people around the world. We need the time anyway to make it scale.

[spendabit]

Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now.

We are getting there though, slowly.

Have you tried Spendabit yet? It's pretty much "Google for things you can buy with Bitcoin":
https://spendabit.co/go?q=4k+tv

Give it a try and let me know!

[mining1]

It's not accepted because it sucks. Lots of places, especially since 2015, started to accept bitcoin. But many don't accept bitcoin anymore because it can't fullfill it's sole purpose; currency. Several hour confirmation and high fees is keeping both potential users and vendors away from it.

This BU vs core fight is happening too late, bitcoin should have forked long ago. But it stagnated instead.

[btcwonder1]

It's because the currency is highly volatile and its value fluctuates at incredibly fast rates. if one day a BTC = $1000 and next day it drops to $800, it would surely kill the business. This is why a large portion of the business community is reluctant to accept it as a form of payment. Moreover, our financial system is not designed to work that way, it would require a large set of changes in order to gain compatibility with BTC. I think its better the way it is.

[Betwrong]

Because most people don't know about it or its benefits.

It's up to us to spread the word.

I agree with this. Hanging out here on bitcointalk we think that it's impossible that most people of the world still do not know about Bitcoin's existence, but that's a fact. People mind their own business and don't care about Bitcoin.

Take me for example. I don't play video games and thus I have no idea about existence of even very popular ones. Right now I've googled "most popular video game" and came across an extremely popular one called Overwatch.  25 million people play this game but I have never heard of it before now.

[Dorky]

1. Geographical facilities (like atm, etc) to facilitate ease of adoption globally must be fully in place.
2. Infrastructures (like smart contract, segwit, etc) to facilitate transition to a fully functional bitcoin network operation must be fully in place.
3. Entering year 2018.

I believe all the 3 points above must be fully in place for bitcoin to be accepted as a major world currency.

Never worry about governments adopting bitcoin as this is an ongoing process.
Never worry about stock market collapse as mechanism is already in place for an engineered collapse anytime once the 3 points above are all in place.

Japan is doing study on how to do corporate accounting with bitcoin and they say this will take 6 months, so bitcoin being a major currency won't take place within the next 6 months while the study is still in development.
Even then, further time is needed for everyone else to familiarize with the new accounting rules and this will probably take several more months into year 2018.

[Rishabh riyz]

[quote author=numismatist link=topic=1832763.msg18260472#msg18260472 date=149
Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by n
We are not seeing it as a currency for the same reason that we are not seeing gold coins or Apple shares as a currency.

Bitcoin isn't a currency. It is a highly mobile commodity. You can pay in bitcoins but the seller actually wants dollar , not bitcoins.


All three come close to a currency, bullion coins since millennia, Apple shares just since some decades and Bitcoin since years. People recognized their value! Just to "replace" a currency you would need to apply lethal force. Something "official" in the workings.

[LeGaulois]

Bitcoin is still somewhat new. Sometimes comparing Fiat VS Bitcoin make me think about Microsoft VS GNU/Linux. There are always a debate as to wich is better than the other. People thinking linux doesn't work with everything and others thinking Win is not so secure. There are evangelists and there are the one spreading X or Y is bad giving argument full of misconceptions or whatever.

[PeRo]

Because many people do not even know that it exists, and if someone does not tell them right about Bitcoin or they do bad research, they will think that Bitcoin is some kind of scam or dumb project, that is why everyone who is using Bitcoin should share it with the world. Another problem is Bitcoin price movement. It should not be a problem if a shop owner could cash it out immediately though.

[royalfestus]

I still dont understand what people expect with the acceptability. They should not expect a dollar kind of acceptability because of its volatility. We should not even expect acceptability at the same time by the world, if the populous and developed country can engage it actively it wont difficult for small ones.  Lets the governance issue be settled for now

[shield132]

Oh people, more than 9 ears old bitcoin isn't so new because now mostly everyone has heard about bitcoin. What do you expect more from bitcoin? It is used in many things without any problem if there is payment with cryptocurrency, it's possible to exchange btc/usd and there are btc ATM's. So this coin can't change gold or USD, EURO and national currencies, it is doing it's best.

[andron8383]

Some poeple don't get that BTC is not daily currency.
BTC cannot scale to be currency of world because NETWORK cannot stand that pressure.
Visa have 2000tx/s this is about 1000MB block this is 370TB/year to BTC.
It is IMPOSSIBLE to use it as world daily currency but BTC can be fiat backed currency and anty printing money.

If you want fast and flexible currency you should go for mysql databse and then it is possible.
Decentralized system cannot win with centralized system that is why POLONIEX is so huge volume, while
any decentralized exchanges are slow PILE OF SHIT.

[Winner]

With Bitcoin being new while being not that secure is mainly why the coin isn't a major Currency. The Currency that we have today is usually secure only when the person who have the money contained in their Businesses claim that it is. Like a Bank for example, the money could get placed in a secure place and we really don't need to think about counterfeit money being made from nothing.
Bitcoin could get double-spent and there's plenty of methods that allows people to get free items just by manipulating Bitcoin's Blockchain.

[batang_bitcoin]

Don't expect that bitcoin will be treated as a major currency. But us who are here in forum and as well as people who are living on the internet can consider this and those people who are in the deep web. But if you are thinking that it will be a major currency declared by the gov't of any country it won't happen. It's decentralized and they won't take the risk of it.

[Yakamoto]

It's not supposed to be surprising to anyone that Bitcoin isn't currently the largest currency worldwide, that much is obivious, nor should it surprise anyone that it isn't recognized as a major currency yet. There are still a lot of politics surrounding Bitcoin that each country has its own answers to the Bitcoin problem, as it were.

You can only get something accepted as a major currency if many powerful groups recognize it. Since Bitcoin has no-one to negotiate with, every other country is just making up what they want.

[hardtime]

I'd have to say there is going to have to be a ton of reasons for Bitcoin not being able to be accepted / used by a ton of people on the universal scale. One of the biggest problems I see with Bitcoin is going to have to be that Bitcoin is something with extreme volatility when it comes to the value of it, so it's unable to be used by people and trusted to the point in knowing their money is worth the same amount as it was before.

I think this part alone is pretty shitty as it makes Bitcoin a problem when it comes to running a business that is going to take USD and Bitcoin on the side or something along those lines. Going further, Bitcoin has a huge scaling solution that it is pretty heavily divided on when it comes to the miners. This causes the fee for using Bitcoin to be very high and would cause using Bitcoin to be pretty expensive.

So yeah, those are my few reasons.

[Selly Arumsari]

Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now.

i think because bitcoin not real money like dollar , but no problem because user bitcoin by internet not bad

[Winner]

Using Bitcoin is just a choice that someone decides on making. Bitcoin isn't a mandatory thing where it's the only payment method that someone needs in order to purchase items. Introducing Bitcoin to another person that is not familiar with Computers and certain electronics may intimidate them and they would stay far from Bitcoin due to its complexity.
It depends on the person, Bitcoin is the same thing as regular Currency -Bitcoin is used more electronically is all.

[Schuyler]

Using Bitcoin is just a choice that someone decides on making. Bitcoin isn't a mandatory thing where it's the only payment method that someone needs in order to purchase items. Introducing Bitcoin to another person that is not familiar with Computers and certain electronics may intimidate them and they would stay far from Bitcoin due to its complexity.
It depends on the person, Bitcoin is the same thing as regular Currency -Bitcoin is used more electronically is all.

Bitcoin isn't as complex as other people might think. It just so happens that bitcoin has not been introduced to a wider audience yet. I think it is up to us early adopters to spread the word and do our small contributions in making bitcoin more popular, which would in turn arouse the curiosity of those who are still clueless what bitcoin can do for them.

[GreenBits]

Using Bitcoin is just a choice that someone decides on making. Bitcoin isn't a mandatory thing where it's the only payment method that someone needs in order to purchase items. Introducing Bitcoin to another person that is not familiar with Computers and certain electronics may intimidate them and they would stay far from Bitcoin due to its complexity.
It depends on the person, Bitcoin is the same thing as regular Currency -Bitcoin is used more electronically is all.

Bitcoin isn't as complex as other people might think. It just so happens that bitcoin has not been introduced to a wider audience yet. I think it is up to us early adopters to spread the word and do our small contributions in making bitcoin more popular, which would in turn arouse the curiosity of those who are still clueless what bitcoin can do for them.

I don't think it is the complexity of bitcoin as much as the complexity of regulating bitcoin. It moves through borders too easy, is hard to restrict, hard to tax in a meaningful way, and anonymous enough to make law enforcement say fuck all this, this is evil darkwebz money. Not being able to control the supply and distribution doesn't help toouch either. And banks can't manipulate it, so they don't really have an incentive to let it compete with King Cash and his brother, Credit.

[divinemaniac]

Bitcoin is not developed enough to be a real currency. As others have stated, it is more of a commodity.
Because of it's volatile nature, it is very very risky to use to as a major currency because something that costs $5 today might cost like $10, $20 even tomorrow.

On top of that, the general public who have no technical knowledge wont be able to use bitcoin unless more people get into development and more elegant and user friendly solutions are developed.

[panju1]

Bitcoin is not developed enough to be a real currency. As others have stated, it is more of a commodity.
Because of it's volatile nature, it is very very risky to use to as a major currency because something that costs $5 today might cost like $10, $20 even tomorrow.

On top of that, the general public who have no technical knowledge wont be able to use bitcoin unless more people get into development and more elegant and user friendly solutions are developed.

Everybody is still waiting for the killer app of Bitcoin. It will take some time.
Bitcoin is great for cross border remittances, but not very user friendly. And the high transaction fees are more or less killing microtransactions.

[GreenBits]

Bitcoin is not developed enough to be a real currency. As others have stated, it is more of a commodity.
Because of it's volatile nature, it is very very risky to use to as a major currency because something that costs $5 today might cost like $10, $20 even tomorrow.

On top of that, the general public who have no technical knowledge wont be able to use bitcoin unless more people get into development and more elegant and user friendly solutions are developed.

Everybody is still waiting for the killer app of Bitcoin. It will take some time.
Bitcoin is great for cross border remittances, but not very user friendly. And the high transaction fees are more or less killing microtransactions.

Man, I forgot about the fees, don't even get me started!  It used to be OK to send tiny amounts with low fees (cleaning dust) and actually expect them to confirm..Things hang so perilously in the mempool now, it's a crap shoot no matter how.much fee you attach. I simply expect a ten percent tax on my bitcoin purchases at this point. For once, fiat is looking way more attractive to hold asy 'housr' currency.

Bitcoin is about to hit a lurch, I can taste it. Too much bull in the air ATM
 Why do we always hit an ATH, then the world crashes and burns around us?

[ice18]

I think bitcoin will not and will never be accepted as a major currency for now or even 10 years from now, because majority of the countries in their respective government do not accept bitcoin as legal currency and its not yet popular enough it will take more years to fully recognized the importance of bitcoin in our society today..

[Sled]

The only thing we need to convince to make bitcoin as a major currency is the government from different countries, if they understand bitcoin well and if they realize the advantages from using it then it will be very easy for bitcoin to be accepted as a major currency. One of the things we need to do is to keep spreading bitcoin to different social medias because that is where the most of the people coming in and because of that there is a high possibility that government will notice the bitcoin and start studying or do experiments with it.

[d5000]

BTC cannot scale to be currency of world because NETWORK cannot stand that pressure.
Visa have 2000tx/s this is about 1000MB block this is 370TB/year to BTC.

At least, one poster that mentions the scaling problem (and not only because it lowered BTC's price a bit or because it divides the community ).

But I think you're wrong. Bitcoin could scale to hundreds of millions of users and possibly even to billions, but our tech isn't there still. We need working decentralized second layer solutions for that. LN is a good concept for small transactions, but we need Segwit first and I wouldn't like to use it for large transactions. Extension blocks and drivechains are, for me, the most interesting concepts and I hope we'll soon see them happen.

Edit: And yes, volatility is another problem. I think however it's solvable, because when liquidity grows in the future, more people will be willing to "back" a certain value by placing long-term bids on exchanges or by offering goods and services for a fixed price in BTC.

[Pearls Before Swine]

bitcoin has no arms. no legs and no voice.

bitcoin will not be accpted in your local town store if you simply sit on yor hands and hop bitcoin somehow drops in and talks to your local stores manager.

bitcoin only grows as a real world currency if those that want it in their local stores, actually themselves go into their local stores and help the local stores be bitcoin acceptable.

this means YOU (anyone reading this that wants their local store to accept bitcoin)

there's no reason any rational person would try to convince a store manager to take a form of money that very few people use and the volatility of which is off the charts.  Bitpay just converts btc to fiat for the merchant,  so he ends up accepting...fiat. 

[ufaiz50]

Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now.

bitcoin has no form or can be say anonym and many governments who think anonymous is illegal and dangerous, and they probably will not benefit if it accepts bitcoin as the government does not know anyone who has a bitcoin and tax can't be wear.

[mastermold]

In my opinion for it to become widely-accepted you should be able to provide for most basic needs: Food, Shelter, Clothing and Energy.
The first three are not so difficult to arrange for but the last one it quite hard because international oil trade is not arranged for in Bitcoins, however the adoption of merchants of food, shelter and clothing could create the basis for a strong local Bitcoin exchange market.

[Przemax]

In my opinion the main fault for that is the corporate consensus. Many companies or at least in a game industry should allow a widespread bitcoin payment option.

Its a profitable option for either a player or a game owner to pay in bitcoin if payment involves different currencies.

I can guess why that might be the case that game owners are reluctant to make such a move as to implement the bitcoin payment. I would guess that most of the game developers are dependant on the bank credit. They would anger their creditors if they would implement bitcoin payments.

Maybe they are afraid of unknown tax regulations when it comes to bitcoin so that makes them reluctant.

There is an option that they might be just lazy and dont see the point in implementing such a payment. But I would guess thats not the case.

[Sadlife]

Everything has it's time so lets be patient, on the other hand bitcoin is making great progress, some countries started accepting bitcoin as a way of payment like Japan.
India made bitcoin their primary currency to use because the government is oppressing their people that's why they've use virtual currency.
You see bitcoin is slowly progressing to that future you and i want.

[noictib]

Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now.

I think this is only due to the questions about​ the bitcoin for it's legality .
Because most of the people are accepting bitcoin fully but the people living in the country in Thier government didn't make the clear to use the bitcoin legally or legally , I mean there is always a doubtful​ question for the government and also for bitcoin whether the bitcoin is legal or legal in his country .
Well here the best thing is to wait and support bitcoin and explain everyone about the advantage of the bitcoin so that government forcefully accept bitcoin officially like Japan government .

[TIDOVEE]

why in haste? everything works in time and process; its gradual.
you don't just expect all countries to start approving things at ones wish.
besides fiat is still very much in function. it will take some time.
it takes you and I to spread it.

[Amph]

it depend on the country really, some country are accepting it as a currency like japan and i fact the volume of trading there is the higheest, other country are too stabborn and still see it as a illegal thing for cp and terrorism etc...

if everyone was like japan we could have already an adopted bitcoin on a large scale, basically it's all up to the government not to the users like i was believing in the past

[logicgate]

Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now.

bitcoin is advance currency and many people didn't know about it in backward areas.if everyone know it then it can be accepted as major currency.it could not replace the conventional currency because conventional currency has widespread access and everybody know it.

[zimmah]

Doesn't make any sense TBH. We should've seen it starting to replace conventional currencies by now.

what's even more shocking is that there's suddenly so much infighting, while we were always peaceful before.

Bitcoin is no longer fighting other currencies, it's fighting itself.