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Author Topic: Does bitcoin really work as real transaction ?  (Read 688 times)
Utuhikan
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November 27, 2017, 01:36:22 PM
 #41

for now I am assuming that bitcoin can not work fully for real transactions with many reasons that support it from state socio-political state to technology owned by the store or place of sale .. any money is of course used as a means of transaction in buying or selling .. while bitcoin was created as a substitute for current paper money but the ease of the transaction and the acceptance of it among the public is still small. maybe some future time there will be a better change (I hope so) like a small shop that receives bitcoin or can make school payments with bitcoin

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November 28, 2017, 02:48:25 AM
 #42

Bitcoin in general is fastly growing and gaining its value on daily. Having its another stretch to increase last month of this year. It is increasing, growing and gaining its popularity all over places. For some, they do mining, get paid thru BTC via signature campaign/tasks or even cloudmining thru online platforms. Once BTC aquire some holds/store, trade if you are into trading, buy and sell. Once aquired, some would still convert it to cash thru their e-wallet and utilize it for common commodities event as cash itself. Thus the relevance of BTC to the economics help and give chance to others to have another form of investment and income at the same timr. For some country it is wodely accepted and being used for the convenience of its people especially for its enthusiasts. Certainly, it is the start that soon other countries who wants to integrate cryptocurrency will use it as common as the normal currency.
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November 28, 2017, 03:15:54 AM
 #43

As a matter of fact today people are more advance and educated for accepting electro currency for sake of different activities of economics section but   there is  problem  like so many people still working in different sector by the help of broker for that reason they are not so much knowledgeable  for about electro currency  or virtual currency. This is a plus point for those brokers for getting more profit.
Now for increasing availability of virtual transaction or bitcoins we should take some necessary steps for showing the actual fact and information which help to know about this crypto-currency. If its possible day by day people feel safe and we will see that virtual currency will be used as a real currency.What you think about it ?

Bitcoin is already used for transactions but not in other countries. I would probably say that we can consider it as a real currency because it was proven that it was used for transactions, investing and trading. We cannot deny the fact that some people doesn't know about bitcoins and that would be a disadvantage why it would be difficult to consider it as a real currency for now.

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November 28, 2017, 03:22:29 AM
 #44

Of a truth many people from different countries and work of life has not been able to used bitcoin for transactions. I have been trying to tell some of my  friends that live in developed countries to used bitcoin to send money to some of their relatives at home but they could not come to terms with this reality that this is possible. I think ignorant of what p2p mean is what is affecting bitcoin transactions and many people has not build confidence on using a system that has no third party to send value online.
For me p2p transactions is some what people do everyday, like paying for commodities with cash and it should not hard explaining this method. I think one factor that affects the growth of bitcoin is that the opposition of government in a certain country. Most of them warn their people to the use of bitcoin and tells them that it is associated with criminality but in fact is very useful and its always on the user how he will use his bitcoin.

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November 28, 2017, 03:32:26 AM
 #45

Bitcoin can be used for real transactions such as in some countries eg japan, america, south korea which has legalized bitcoin so it is commonly used for shopping. We can see ads on youtube that appear easy in transactions using bitcoin to buy coffee and takes place very quickly and easily only requires internet network. Bitcoin can work real only if the government has legalized it so it can be used in everyday needs and this is a new way of transacting.

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November 28, 2017, 04:14:12 AM
 #46

As a matter of fact today people are more advance and educated for accepting electro currency for sake of different activities of economics section but   there is  problem  like so many people still working in different sector by the help of broker for that reason they are not so much knowledgeable  for about electro currency  or virtual currency. This is a plus point for those brokers for getting more profit.
Now for increasing availability of virtual transaction or bitcoins we should take some necessary steps for showing the actual fact and information which help to know about this crypto-currency. If its possible day by day people feel safe and we will see that virtual currency will be used as a real currency.What you think about it ?
eventhough were on a conputer age and internet connecting
People in which we are communicating and transacting over virtual
Currency,theres a lot of people or businessman that still believe in traditioanl
Way of transaction that is actual or physical mode of payments it will
Take time before the traders or business man of old age realize how this
System help them,

Maybe on the next generation when the old timer given to their
Sons or successor the business it wil be use

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November 28, 2017, 04:24:07 AM
 #47

many counties accept and legalized bitcoin and that countries accept bitcoin as a payment metode and many online shop like amazon accept bitcoin as a payment.. ofcourse now bitcoin  is a real transaction, in the future will many more countries to use bitcoin..
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November 28, 2017, 04:25:19 AM
 #48

Bitcoin can be used for real transactions such as in some countries eg japan, america, south korea which has legalized bitcoin so it is commonly used for shopping. We can see ads on youtube that appear easy in transactions using bitcoin to buy coffee and takes place very quickly and easily only requires internet network. Bitcoin can work real only if the government has legalized it so it can be used in everyday needs and this is a new way of transacting.
Those countries already proven that bitcoin can be used in real payment transactions as they already offered paying bills using bitcoin just like how credit card and debit card works. Bitcoin is much easier if we are only familiar on how the system works. Maybe we can see more business establishments to offer this payment method when the value are already established and the fluctuation is not that high anymore.

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November 28, 2017, 04:59:48 AM
 #49

As a matter of fact today people are more advance and educated for accepting electro currency for sake of different activities of economics section but   there is  problem  like so many people still working in different sector by the help of broker for that reason they are not so much knowledgeable  for about electro currency  or virtual currency. This is a plus point for those brokers for getting more profit.
Now for increasing availability of virtual transaction or bitcoins we should take some necessary steps for showing the actual fact and information which help to know about this crypto-currency. If its possible day by day people feel safe and we will see that virtual currency will be used as a real currency.What you think about it ?

Yes it's very possible. At this point it's obvious that physical cash is outdated and virtual money is the future. Question is, who will win the future of money battle? Will it be cryptocurrency or conventional virtual money?

I'm not really sure about this. It would be very hard for crypto to take over the current system. We're not even legalized yet, let alone spreading adoption, educating people, etc. For most people, the advantage that cryptocurrency has to offer like immutable, anonymity, etc might be not too relevant. While that's a vital thing for some people, the majority just don't care about those things. With additional problems that currently exist on Bitcoin, like confirmation time and huge fees, it even looks harder. Crypto, especially Bitcoin, will most likely survive, though. Not as a currency, but rather a store of value, the future digital gold. Now most people would be appealed to it, I'm sure.

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November 28, 2017, 04:19:31 PM
 #50

Unfortunately Bitcoin can't be used for everyday purchases because not all stores accept Bitcoin payments.
Besides, high transaction fees and the time that a transaction can take to get confirmed will not encourage people to use Bitcoin to pay their spendings.
Each day the number of stores and merchants accepting cryptocurrency payment is rising because despite the negative points mentioned previously accepting bitcoin still profitable due to the continuous rise in value.

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November 28, 2017, 10:04:08 PM
 #51

As a matter of fact today people are more advance and educated for accepting electro currency for sake of different activities of economics section but   there is  problem  like so many people still working in different sector by the help of broker for that reason they are not so much knowledgeable  for about electro currency  or virtual currency. This is a plus point for those brokers for getting more profit.
Now for increasing availability of virtual transaction or bitcoins we should take some necessary steps for showing the actual fact and information which help to know about this crypto-currency. If its possible day by day people feel safe and we will see that virtual currency will be used as a real currency.What you think about it ?

The revolution from traditional paper offices to digital offices wasn't hindered by notions of data stored in binary format not representing real information. There's no big advantage in shunning digital data formats over a paper trail. Most monetary transactions are conducted across electronic networks. Claiming that bitcoin doesn't represent real money isn't so different from saying a credit or debit card isn't real due to it containing magnetic data stored on a card format.

There are advocates calling for a cashless society proclaiming electronic transactions the future of business and world economies. If indeed electronic money is the future, can bitcoin participate in the discussion? The divide between what some deem "actual information" and digitized or electronic money is an interesting dualistic paradigm. There are physicists who claim the world we live in is a hologram or simulation.

I think that in a world where people want actual information they might revert to ahmish living conditions and shun electronic devices. That may represent the end game of real currency advocates.

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November 28, 2017, 11:36:12 PM
 #52

many counties accept and legalized bitcoin and that countries accept bitcoin as a payment metode and many online shop like amazon accept bitcoin as a payment.. ofcourse now bitcoin  is a real transaction, in the future will many more countries to use bitcoin..

We can really use bitcoin to transact online here in my place and also convert it into fiat money easily if you think this is not a real transaction then think again. Yes bitcoin is the future and people should believe on this for them to make also good money.
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November 28, 2017, 11:58:55 PM
 #53

Bitcoin is not the best and at least not medium well coin which can be use as a medium of exchange. Firstly because of huge fees and secondly because of its feature which make bitcoin more like storage value than payment methind.But Ripple is very efficient  and low energy.
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December 15, 2017, 11:09:11 AM
 #54

Bitcoin does work as a real transaction. Its just that the mode happen to be digital and blockchain based.
One downside to this fantastic blockchain technology is the transaction verification time. It takes a while for a certain transaction to get verified for it to be valid. If this downside is corrected or improved, btc transactions will be as normal as any other transactions and actually more secured than most of them.

The way one can recieve and send btc, the way it can ve used in trading and gambling, and any other place where actual money coul have been used, shows that it is as good as any other curency, if not better.

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December 15, 2017, 11:43:06 AM
 #55

many counties accept and legalized bitcoin and that countries accept bitcoin as a payment metode and many online shop like amazon accept bitcoin as a payment.. ofcourse now bitcoin  is a real transaction, in the future will many more countries to use bitcoin..

We can really use bitcoin to transact online here in my place and also convert it into fiat money easily if you think this is not a real transaction then think again. Yes bitcoin is the future and people should believe on this for them to make also good money.


That's true. We can use bitcoin in a real transaction if it is done online because there are some online shops now that will accept bitcoin as payment of the products you what to purchase. You don't have to worry about where to spend it anymore since bitcoin is already famous all throughout the world.

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December 15, 2017, 12:09:51 PM
 #56

Well my government here said bitcoin is can't be used for real transaction in our country but you still can use it for an asset or investment. I think bitcoin can work as real transaction but we still need time for that happen. There are many people still don't know about bitcoin out there.
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December 15, 2017, 12:20:12 PM
 #57

There needs to be a supportive regulation about  the use of bitcoin as a means of payment in real transactions, by that regulation  make the public will feel secure in the use of bitcoin as a means of payment in real transactions. And much information is needed on the use of bitcoin as a mean of payment so that more and more people know about the use bitcoin.
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December 15, 2017, 12:48:34 PM
 #58

Well in other countries, it is already legal to use bitcoin as currency or medium for buying the things that they want. It really worked and there is a video on how a person interact with the cashier buying pizza or burger for bitcoin. This will make the transaction so fast than paying a money and waiting for the change if you have.
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February 11, 2018, 04:55:15 AM
 #59

As a matter of fact today people are more advance and educated for accepting electro currency for sake of different activities of economics section but   there is  problem  like so many people still working in different sector by the help of broker for that reason they are not so much knowledgeable  for about electro currency  or virtual currency. This is a plus point for those brokers for getting more profit.
Now for increasing availability of virtual transaction or bitcoins we should take some necessary steps for showing the actual fact and information which help to know about this crypto-currency. If its possible day by day people feel safe and we will see that virtual currency will be used as a real currency.What you think about it ?
Yes its kinda great and use as a payment method  for increasing availability of transactions with bitcoin people feel safe and use this as a real currency.In fact people are more getting and interested to it .Hoping that other countries also accept it in the future

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February 11, 2018, 04:57:33 AM
 #60

I've never heard of people buying Bitcoins through a broker. What's the advantage of doing that Vs. opening an account at an exchange and buying some Bitcoins? WOuldn;t the broker hold the Bitcoins on your behalf? That sounds like they're basically trusting someone with your private key, when you don't actually need to. Ignorance will kill you in this space. People just need to learn how to use it or don't bother buying it. Figure it out first then buy it, not the other way around. Grin
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