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Author Topic: Bitcoin must come back to its original use - currency !  (Read 907 times)
paynercash
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August 01, 2018, 09:09:36 AM
 #221

I whole heartly agree. I have always talked about thats the biggest issue about bitcoin. People use it to make money, buy low and sell high. However bitcoin is a currency itself, not something you use to make money. It is money itself. If we keep doing this and just buy and sell bitcoin than we will never have a great and successful "peoples coin" for ourselves and always use the fiat currency the governments fully control themselves. We need to realize the big potential bitcoin promises us.
Electronic money will dominate the financial markets. Its application is fast and convenient to shorten the time of other transactions on the internet. And imagine that when you buy something online there is a list of payments by bitcoin that is great. The digital age of territorial nations that need to be adapted and applied to the nation will grow dramatically.

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drachman
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August 03, 2018, 01:09:56 AM
 #222

I'd love to use my Bitcoi. But then again, utility companies don't accept bitcoins, groceries haven't heard of bitcoins even my insurances don't give a damn about it. I mean yeah internet related transactions are good but I don't have any transactions over on the internet. But like any other fiat, you can always invest on them.
This is going to be the case for some time but I really think that things are going to change in the next years and decades, adoption is not something that you can force out of people, they do not see the reason for adopting bitcoin yet but they are going to see it in the future when there is an economic crisis and they understand it was because of fiat currency.

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August 03, 2018, 04:41:10 AM
 #223

It is impossible to take Bitcoin back to it's original use as currency because investors are keep on hoarding it themselves for a long term investment. Bitcoin is for everyone but now only wealthy people can afford to have atleast a coin plus it is only applicable to bigger transactions due to high fees. But yeah I love it when Bitcoin will be used again as currency and Altcoins as digital commodity.

I usually use Bitcoin in buying prepaid loads and also paying bills here in my country and it is super fast and easy compared to fiat currency. But when I first knew about Bitcoin it is really a currency but when I came through various online communities they used it as investment just like precious stones and metals. My question is how could it be back when all the people are using it for investment purposes and not as currency?

No ofcourse it's possible the only question is when would it be

As i believe this may happen when the adaptation of cryptocurrencies take place al over the global since the usage of crypto or bitcoin is only limited as of this days.

When time comes that this coins will being used for transactions in anything then thats the time for this to happen

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August 03, 2018, 10:59:24 AM
 #224

As the title says I am pretty sure most of us who understands "what is the actual use of the bitcoin will know what it says"

Bitcoin :
Mint Symbol : BTC
Value : Avg. 10K USD/BTC
Form : Virtual
Use : Currency

This should have been the actual thing after the Satoshi's dream to release the coin like BTC in the market. The bitcoin was supposed to be used as currency to buy and sell things the same way we do with our dollar.

The first use of BTC was done when the guy bought pizza for 10K BTC. That was the thing which should have been continued today also. No matter what how much you pay for pizza in those early days, it could have been few satoshi's today but it could have worked just fine.

The status of the BTC has now turned to commodity. The commodity which is being traded globally for the own profit and to run the different industries. This is getting ridiculous day by day as replica of it coming out of the forks.

This Should have been the Future:

Bitcoin is ebbing used as currency in 2009-2010. Government see that its popularity is growing day by day and it could be of could use in the financial sectors, lets implement the blockchain in our banks!

Bitcoin earns the legal status

Bitcoin gets widespread across the globe and rest of the country follow the same and thus the nationwide legal status turns into the global legal tender!

People start using the BTC for trading daily life needs with help of bitcoin.

There are no creation of million BTC addresses daily but the only one unique address per head per bank account!

No exchangers are being created but only handy smart phone apps and PC wallets to store the coins linked with bank chain.

Bitcoin smoothly shifts in the market capitalism and keeps going upwards slowly but steadily. The value rises and it gets cheaper to use for daily needs.

Global financial advisor think about minted coins to be formed physically with unique barcodes printed on them.

First appearance of the BTC in the global market!

Yes, that seems to me perfect. This is what bitcoin could have followed but greedy human changed its history by using it for their own benefit as commodity.
Having crypto as a currency is not a good idea, so I don’t really think you’re saying the right thing. We can use them as a payment method between friends or for making payments online and in stores, but for it to be used as the real currency, I don’t support that kind of idea.

There is nothing wrong with the way it is being used, at least we are earning income out of it through this way, it is an investment and also a method of transaction.

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