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aeternus
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December 25, 2017, 07:37:32 PM |
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Many true Bitcoin enthusiasts actually prefer to use Bitcoin as a medium of exchange. They aren’t interested in investment or speculation or trying to sell at a profit.
Instead, they see Bitcoin as a way to engage in free association of trade without the need for governments to regulate the exchange. With Bitcoin, it’s possible to pay for goods and services instantly by transferring the digital money straight from your wallet to someone else’s digital wallet.
The main purpose of bitcoin is to transfer asset from one place to another, fast, easy and reliable source. Bitcoin is decentralized, that's why more traders are attracted in bitcoin. Traders would not hessitate to transact instantly because government will not interrupt them. As long as the transactions are legal. Now we can see how bitcoin changes our lives, the complicated transaction becomes automatic. Transacting bitcoin is reliable and easy, but we have not got to the fast part, as we know it can take hours to get a confirmation and while that is still better than banks that does not live to the promise of bitcoin of being a form of electronic cash, we need to find a way to solve that, it seems the lightning network is going to be the answer to our problems but we need to see it in action. |
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The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
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sopromat
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December 25, 2017, 07:45:08 PM |
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Obviously, and you should not forget about those people who are only using bitcoin as fast rich scheme, or those who are begging for money in order to make some easy bucks, i am tired of them.
I dont know, bitcoin has many functionalities and specially for the poorest ones.
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Darmanin
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Glab Trotter
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December 25, 2017, 07:46:07 PM |
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At the same time, I do not see bitcoin as money personally, I see it primarily as an investment or as a way to send money quickly around the world.
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ajmapalo22
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December 25, 2017, 10:09:35 PM |
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Majority of bitcoin users take bitcoin as an additional source of income this is why instead of an investment they use bitcoin to finance their expenses. I think only few members of the community are collecting every bitcoin they earn and keep it as a savings or investment. Bitcoin helps a lot of people so we cannot blame them if they used bitcoin as a medium of exchange rather than investment
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khaled0111
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Top Crypto Casino
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December 25, 2017, 11:12:27 PM |
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This is exactly why Satoshi Nakamoto created Bitcoin, he wanted to create a digital currency that allows people to transfer "money"
without being controlled by governments or any third party.
But there still many isuues that developers should resolve to ensure the continuity of this project and to ensure that it will not be used for other purposes.
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Kingofbitcoin12345
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December 25, 2017, 11:13:59 PM |
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In my observation,, the beneficial aspects in using bitcoin than any fiat currency and any alternative coins that is available now outrun the others.. Because bitcoin has more power potential that is not totally law binding(depend on country) that is important when we talk about profitability and has much faster transaction time disposition (except totally congested network)..
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streetlight
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December 25, 2017, 11:59:37 PM |
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This is exactly why Satoshi Nakamoto created Bitcoin, he wanted to create a digital currency that allows people to transfer "money"
without being controlled by governments or any third party.
But there still many isuues that developers should resolve to ensure the continuity of this project and to ensure that it will not be used for other purposes.
There is a big issue with fees right now. I am afraid it is crippling Bitcoin. It is sad to see really. I never thought we would get to a point that fees would be this high and people were even considering switching to altcoins instead. All good things come to an end, I suppose. |
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Pleione527
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December 26, 2017, 01:47:26 AM |
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Yes it is true majority of people don't hold bitcoin because they prefer converting them in to fiat either to use for expenses and put in their bank account, for me I prefer converting my bitcoin and transferring them to bank account or I buy gold because I am one of those who are afraid of taking risk when it comes to bitcoin investment, I am not that strong when time comes that the value of bitcoin fluctuates and suddenly drop, I always think anytime I can lose everything I earn.
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aeternus
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January 08, 2018, 09:52:56 PM |
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This is exactly why Satoshi Nakamoto created Bitcoin, he wanted to create a digital currency that allows people to transfer "money"
without being controlled by governments or any third party.
But there still many isuues that developers should resolve to ensure the continuity of this project and to ensure that it will not be used for other purposes.
There are some issues but they are not going to create anything that ensures that bitcoin will not be used for other purposes, I think you are referring to criminals with that phrase, but the whole point of bitcoin is that when your bitcoin is in your wallet you have complete control over it and no one can take it from you which means that you can use bitcoin for good and bad things and no one is going to interfere. |
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VclDm
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January 08, 2018, 10:21:12 PM |
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At the same time, I do not see bitcoin as money personally, I see it primarily as an investment or as a way to send money quickly around the world.
This is quite accurate because almost all transactions are through bitcoi, which is why the bitcoin has been delayed a long time ago, bitcoin is suffering a heavy burden and is in need of another coin. I can share it, I think it's Etherum. Currently bitcoin is stable at $ 15000, this is good value for you to buy into bitcoin and hoard later. |
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audrey12
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January 08, 2018, 11:09:04 PM |
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Youre right most of people prefer to use bitcoin as a medium of exchange for reasons like they need money to support their finances other maybe don't have much believe in bitcoin investment and its capability to grow much higher but I think this thing will change as days passes by since people learn that crypto currencies become more popular and the demand continue to grow
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Altero
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January 08, 2018, 11:30:45 PM |
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Many true Bitcoin enthusiasts actually prefer to use Bitcoin as a medium of exchange. They aren’t interested in investment or speculation or trying to sell at a profit.
Instead, they see Bitcoin as a way to engage in free association of trade without the need for governments to regulate the exchange. With Bitcoin, it’s possible to pay for goods and services instantly by transferring the digital money straight from your wallet to someone else’s digital wallet.
That's because bitcoin is easy to used and it won't need much time doing transaction. And more people are using this form of currency for them to hide their real identity in the public and even they are holding millions of bitcoin still nobody will knew it. |
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dragoz11
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January 08, 2018, 11:35:34 PM |
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Yeah if you run a business and have to make transactions it would be great for that enterprise to get their payments made by btc as it would save a lot of time and a lot of problems.
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richardsNY
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January 08, 2018, 11:58:50 PM |
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That's because bitcoin is easy to used and it won't need much time doing transaction.
We can't ignore the situation of the last 12 months where the fees have been a significant obstacle, especially for those who are new to this market. People investing with smaller amounts have a hard time looking at how a single fee of $10-$15 eats through their initial investment amount. For traders and others that are generating whatever form of income in Bitcoin it might not be that much of a problem, but if you start out with a $50-$100 investment, it's going to bother you. Priority nowadays is entirely based on the fees you include, so with some variables in mind, a lot transactions will not settle within 3-4 blocks. SegWit would be a tremendous help in this case, but adoption lacks unfortunately.... |
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CoPil
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January 09, 2018, 12:00:01 AM |
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Many true Bitcoin enthusiasts actually prefer to use Bitcoin as a medium of exchange. They aren’t interested in investment or speculation or trying to sell at a profit.
Instead, they see Bitcoin as a way to engage in free association of trade without the need for governments to regulate the exchange. With Bitcoin, it’s possible to pay for goods and services instantly by transferring the digital money straight from your wallet to someone else’s digital wallet.
Yes that is actually true. I think the main reason why Bitcoin is created is for the free association of trade. No taxes lies from a decentralized currency. It it convenient to use since it is digital. There are many things that we can do about Bitcoin. Unfortunately some use it for scams and crimes. Illegal transactions at the dark web etc. |
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CHENIEN
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January 09, 2018, 12:31:10 AM |
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Bitcoin is only similar to medium of exchange , bitcoin is not actually use as a medium of exchange, today our medium of exchange is money but if we access bitcoin it will also convertible to cash money, so meaning bitcoin is not really much as a medium of exchange but we can used it to make money. So, in my own idea bitcoin is not used as a medium of exchange but we can convert it into medium of exchange which is the money used. No governments banks endorse bitcoin as a medium of exchange rather than money.
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jhonjhon
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January 09, 2018, 12:45:49 AM |
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It could be a great opportunity for us having this new technology which help us to fasten our daily and heavy transactions. This new development will certainly provide us a better and easy life, which mostly wanting for. That's why more people were started to used it to take advantage.
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Pixyoxx
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January 09, 2018, 02:01:54 AM |
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In fact it's being used by the underworld criminals and other big officials who are trying to keep their money hidden to save themselves from taxes.
But now due to increased fee and the new regulations they are moving out of it because now it's not suiting their demands.
It has both plus and negative points.
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arrmia11
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January 09, 2018, 02:26:37 AM |
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Many true Bitcoin enthusiasts actually prefer to use Bitcoin as a medium of exchange. They aren’t interested in investment or speculation or trying to sell at a profit.
Instead, they see Bitcoin as a way to engage in free association of trade without the need for governments to regulate the exchange. With Bitcoin, it’s possible to pay for goods and services instantly by transferring the digital money straight from your wallet to someone else’s digital wallet.
That's true, actually it is already been happening in some places and I think one of the main objective of the founder of Bitcoin is to used it in free association of trades that doesn't require the interference of the government. If that happens, then people will no longer worried about taxes and fees but unfortunately if this continues one of the disadvantage is that it can be used also by criminals without identifying who they are since the identity will be anonymous. |
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Budugbass
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January 09, 2018, 02:30:41 AM |
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And anyhow it depends on the thinking of each people, the smart people certainly can be using bitcoin as well as possible to get many benefits and make it easier to makes the effort they did to get the profit / money, wherever they live.
As a medium exchange, investment, selling it to local currency or as a directly payment's medium, surely each of us will adjusting it to the circumstances and the existing situation that can be able to take the advantages.
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