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Author Topic: As long as you convert your crypto to fiat, we will never go mass adoption  (Read 237 times)
Sadlife
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February 28, 2018, 04:25:42 PM
 #41

That's all well and good but the problem is that bitcoin is not yet adopted as a global payment it is still in the process of being recognized by an average joe who doesn't have any knowledge about crypto currency. So in order liquidate and use our crypto currency we need to convert it in fiat.


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February 28, 2018, 04:34:55 PM
 #42

That's all well and good but the problem is that bitcoin is not yet adopted as a global payment it is still in the process of being recognized by an average joe who doesn't have any knowledge about crypto currency. So in order liquidate and use our crypto currency we need to convert it in fiat.

Somewhat true. I think the main reason is we are not able to use the crypto currency with full fledge in the world. Neither we have any online use of it (everywhere in the world) nor we can use it offline for daily life. So what most of the people are doing is to get it converted to the fiat currency and then go happy about it! Thats the trend now and I think no one is strong enough to hold it forever like that. If they have to cash it out then they will for their needs and support as I do myself!  Wink

   

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February 28, 2018, 04:35:11 PM
 #43

I appreciate your enthusiasm and support to cryptocurrency but I don't think your argument is valid. What if you are in a restaurant where you will now pay a bill and  you later find out Bitcoin is not accepted? Simply refusing won't change the fact that you still need to pay for your food. I know it is putting us in a hard position but converting Bitcoin to Fiat is one of the easiest fix out their. We just need to be patient as even the business establishments are noticing Bitcoin as a mode of payment.

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Whitly
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February 28, 2018, 06:03:22 PM
 #44

I agreed with you, but problem that most of business owners just don't know or understand what is bitcoin, and how to explaine them that bitcoin is an kind of money, all what they want just sell their product and get profit, I'm even sure that if they will start accept bitcoin, it won't help a lot, since they will exchange it to fiat after every "circle".
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March 17, 2018, 08:04:24 PM
 #45

Thats not the way to force someone to accept btcs for use. If they dont wanna use who are you to force?
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March 17, 2018, 08:48:11 PM
 #46

You have a good idea and just like most of us know that mass adoption is one key solution to fud and negativity but the digital system is not yet mature for such practice. Transaction to be paid with cryptocurrency for a product of a dollar is rather impossible "for now".

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March 17, 2018, 10:41:37 PM
 #47

People! please don't look at crypto as an ez money maker, and please don't convert to fiat, I would suggest to USE it rather than spend it.
The next time you pay for something, always encourage them to accept crypto. If they refuse, then so be it, but what you're doing is the effort so that many people will hear about it, and maybe the next time someone asked them to receive payment through crypto, maybe they will change their mind and try it.

This is how your transfer the market cap from fiat to blockchain and this is how you realize true gain, your 10 coins valued at let's say 100$ can go to the moon if more people would switch to crypto.
Please please please, we want a future with just peer to peer txion, F the middle man!
You are right, but at the same time it is going to be impossible to enforce, bitcoin is supposed to give you freedom to do whatever you want with your money without interference, this means that if most people want to exchange their bitcoin for fiat at they can do so, one of the possibilities in which I see bitcoin gaining huge adoption to the point that you can use it everywhere will be very with a huge economic crisis.



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March 17, 2018, 10:46:43 PM
 #48

Well how can there be "adoption" of bitcoin if 90% of the people are holding it for longer terms without even spending it or slightly spending it sometimes. That's what's turning btc into an asset and it will most likely remain as one.
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March 17, 2018, 10:59:14 PM
 #49

the idea sounds good, and I really hope that this could happen in the near future, but as of now it is still seems farther than expected.everytime prices crashes, people starts to panic Cool and still many people are still not educated about bitcoin , as for me just HODL ´till the end.
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March 18, 2018, 04:01:24 AM
 #50

its better to let them not accept bitcoins because they are well aware of its nature and volatility
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March 18, 2018, 07:34:31 PM
 #51

Yes pls dont try to do that pls. As much as you can transact in the terms of btcs only please
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March 19, 2018, 01:26:25 AM
 #52

I would rather pay with fiats because i think fiat transaction is much better due to its dual way flow Smiley
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March 19, 2018, 01:38:51 AM
 #53

I want to use bitcoin as what it was suppose to be as a currency but there are just so many limitations because most of what we needed are payable in fiat currency only so we are forced to convert it. Eventually bitcoin would be use by most people but fiat is here so stay and co-exist with cryptocurrencies because we cannot totally shift to cryptocurrency since there is a limitation as well in the technology. Maybe in a hundred years when all are developed and involve in technology then we can shift exclusively to online money but for now it is highly unlikely. It would just be a gradual change.
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March 19, 2018, 02:41:48 AM
 #54

I don't think that the cause of negative total mass adoption of cryptocurrency reflects on converting crypto into fiat. For me, how can be a cryptocurrency become useful if there's no need to convert it into fiat. Is there any direct establishment accept cryptocurrency in your country for changing goods and products? Maybe majority would say no. Like for example time will come that cryptocurrency will not be acceptable as convertible into money, is cryptocurrency become useful? The reason why cryptocurrency become popular because of their quality that highly valuable compare to any kinds of money, and having high value when converted into money, that's why cryptocurrency is an instrument to make money. And how can investors and workers survive if cryptocurrency would not use as instrument of making money.

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March 19, 2018, 02:55:33 AM
 #55

People! please don't look at crypto as an ez money maker, and please don't convert to fiat, I would suggest to USE it rather than spend it.
The next time you pay for something, always encourage them to accept crypto. If they refuse, then so be it, but what you're doing is the effort so that many people will hear about it, and maybe the next time someone asked them to receive payment through crypto, maybe they will change their mind and try it.

This is how your transfer the market cap from fiat to blockchain and this is how you realize true gain, your 10 coins valued at let's say 100$ can go to the moon if more people would switch to crypto.
Please please please, we want a future with just peer to peer txion, F the middle man!

There are  a lot of improvements required in crypto:

1) Reducing the number of coins: First of all, there must be some limit or control on new coins being launched everyday. It looks like everyone wants to launch his own coin without any uniqueness and get rich using the popularity and past success of bitcoins.

2) You are also correct about asking for bitcoin payments and paying in crypto especially to young people who are just starting with Freelancing. These people are very much active on social media sites and will promote bitcoins for free.
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March 21, 2018, 02:07:36 PM
 #56

I think payment via cryptoz should be favoured as because it would help people to embrace btc ecosystem more rapidly
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March 21, 2018, 02:18:12 PM
 #57

People! please don't look at crypto as an ez money maker, and please don't convert to fiat, I would suggest to USE it rather than spend it.
The next time you pay for something, always encourage them to accept crypto. If they refuse, then so be it, but what you're doing is the effort so that many people will hear about it, and maybe the next time someone asked them to receive payment through crypto, maybe they will change their mind and try it.

This is how your transfer the market cap from fiat to blockchain and this is how you realize true gain, your 10 coins valued at let's say 100$ can go to the moon if more people would switch to crypto.
Please please please, we want a future with just peer to peer txion, F the middle man!
The conversion of btc to fiat is necessary for many of us, this is impossible just to stop right now and say: "Halo, miss of the fruit, please accept bitcoins". It depends on where you live.
I agree with you, we all must encourage people to accept bitcoin as a payment system, and I think we all are. But we also need stuff for living, and not everyone lives in a city. In a small village, it is going to take a while, for not everyone has even access to the internet around here!
But I often dream about creating the first-small-crypto-village in the whole world. So I never stop talking about bitcoin to all my neighbors, for, who knows? maybe it is easy to create a system of crypto in a small town than in a bigger one!
Encouraging people to use btc, though, is not so easy for the moment. They don't know even how to use their computer, much less how to buy those abstract cryptocurrencies.
So, yes, talking about btc, to try to encourage little business to use it is still utopic.

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March 21, 2018, 02:28:44 PM
 #58

at the moment not everything is available to be purchased with crypto,
so people have no other choice at times than to convert back to FIAT.
I have done it myself. This is a kind of chicken and egg scenario.

What we can do is ask the question over and over again of the retailers
and traders if they accept BTC, LTC, Monero or Dash.
This is to let them know that there are people willing to spend crypto
and hopefully sooner rather than later they will accept our crypto.

We all need to raise awareness.

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March 21, 2018, 04:02:26 PM
 #59

Well how can there be "adoption" of bitcoin if 90% of the people are holding it for longer terms without even spending it or slightly spending it sometimes. That's what's turning btc into an asset and it will most likely remain as one.
The truth is there is not much to do with your bitcoin, even if I wanted to spend it there is not a single store in my country that accepts bitcoin in fact I have yet to met a person that didn't heard of bitcoin because of me, so I do not have any other option but to hold my bitcoin or to trade it and trading is too risky for me so I prefer to hold.



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March 21, 2018, 04:36:19 PM
 #60

Well how can there be "adoption" of bitcoin if 90% of the people are holding it for longer terms without even spending it or slightly spending it sometimes. That's what's turning btc into an asset and it will most likely remain as one.
The truth is there is not much to do with your bitcoin, even if I wanted to spend it there is not a single store in my country that accepts bitcoin in fact I have yet to met a person that didn't heard of bitcoin because of me, so I do not have any other option but to hold my bitcoin or to trade it and trading is too risky for me so I prefer to hold.

in 2018 that is not a good excuse anymore and i have actually tested this!

have people in your country heard about bitcoin? has anyone from your country invested in bitcoin?
if the answer to the two above questions is YES, which most probably it is, then there is a good chance that next time you go to a shop and ask them whether they are willing to accept bitcoin for your purchase they will accept it.

and i have tested this last month! i went to buy a motherboard and while i was waiting i though let's have some fun, i asked the guy and he was more than excited to accept bitcoin payment because he was already investing in bitcoin and didn't mind having some more directly from me...

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