Bitcoin as money

[Invest.Ort]

In my opinion, BTC will take a significant part of the online market, now the question arises as to how much time it will happen ... BTC now acts as an illegal way of exchanging all over the world. It's hard to say here, because banks will do everything possible to stop it, so now it's imperative to follow this and keep up this innovation with all our strength.

[tdrinker]

While I see a scenario where bitcoin can be used for such small payments I think that it's unlikely in the near future. I think that first it will become accepted as a payment method for larger online transactions and later once it's better implemented it will be used in conjuction with electronic cards to pay for almost everything

You can use bitcoin now to buy goods and services, although not on larger scale and many merchants use 3rd party such as BitPay to evade unstable price of bitcoin and get fiat. So now it is strongly tied to fiat currency. In future hopefully people will like to have bitcoin rather than to get bitcoin and transfer it right away.

Why would you need electric cards? Because with this you will have to have 3rd party holding your coins or private key somehow embedded within card. To my mind it is far better and easier to use existing hot wallets within mobile phones.

I think that within reason almost all merchants are still going to want to receive funds in their own currency as you mentioned. It's too risky and complicated for them otherwise.

I mentioned cards because of this reason, it's an easy way to pay in bitcoin but the merchant receive their own currency.

I have not come across these hot wallets within phones, how would you use them to pay for something in a store? Say you wanted to buy a coffee? Are these the new ones that you scan a virtual card on your phone screen?

[FullMooon]

I think its negative, because as of now. Bitcoin can work without centralized bank or administration. So easy to say that bitcoin is not holding up by government. It hard to use in buying anything as physical money.

[AriannaSantosUU]

It can happen in the future. Using bitcoin as payment, btc use as paper money in paying your needs. But i bet that if that happens, bitcoin will be now subject to tax. Possible to have a physical bank for btc.

[Catch-22]

Not in the near future.  There are problems like slow transaction and high fees plus the volatility of bitcoin price that needs to be resolved first for us to be able to use it to purchase commodities.

[pitiflin]

That's why Bitcoin exists. To use it on a everyday basis. It's just that things didn't go the way that Satoshi expected it to go. People think of bitcoin as a asset, an investment rather than its main purpose to be a currency. Had Satoshi not left bitcoin and its users back in those days, maybe things might have turned according to his expectations. Thinking of bitcoin as money is long past now, it's an investment now. So just hodl.

[ManaMan]

I think that within reason almost all merchants are still going to want to receive funds in their own currency as you mentioned. It's too risky and complicated for them otherwise.

I mentioned cards because of this reason, it's an easy way to pay in bitcoin but the merchant receive their own currency.

I have not come across these hot wallets within phones, how would you use them to pay for something in a store? Say you wanted to buy a coffee? Are these the new ones that you scan a virtual card on your phone screen?

Was referring to ordinary android/iphone apps. Merchants can have watch only wallet and they can import xPub from BIP39/44 and recieve funds that way and you simply scan qr code from their monitor and send cryptocurrency. You have Blockchain Merchant that is awatch only wallet and does what I mentioned above for bitcoin payments.

It is possible even to pay by phone for national currencies and this is being used in some countries and with some merchants. So we can see that in future even cards might get replaced with mobile phones. As all of us carry mobile phone I don't see the reason for card to exist for cryptocurrency. Of course there is a risk if you lose your mobile phone or if it gets compromised so for this you want to make sure that your wallet is encrypted on the device and not to store large quantities. Anyways cards can be stolen and compromised as well.

That's why Bitcoin exists. To use it on a everyday basis. It's just that things didn't go the way that Satoshi expected it to go. People think of bitcoin as a asset, an investment rather than its main purpose to be a currency. Had Satoshi not left bitcoin and its users back in those days, maybe things might have turned according to his expectations. Thinking of bitcoin as money is long past now, it's an investment now. So just hodl.

Even if satoshi stayed we have to create a value of it to be able to transact. So I do believe that this "investment" and asset phase is healthy. Because we have to create a suitable and somewhat stable price to use it as a currency, more years have to pass for that but there is not much we can do.

[nyong]

the positive impact is we can buy something easily but it's quite difficult because many people don't use bitcoin, especially in traditional markets, they
they still using paper money for sell or buy

[Akselrod]

They say that bitcoin is the future of money. What do you think if we use bitcoin in everyday lives as a money? Like buying foods. Or buying clothes. Do you imagine it positively or negatively?

I think most likely it will. Maybe not bitcoin, but the crypto currency will replace paper money. And it will be good if we have an opportunity to make good money. Because if there is no money, then it is not important whether it is a dollar or bitcoin.

[siti25]

that's a good thing, one of the benefits is that you do not have to bring cash to shop for clothes or just to eat at a restaurant. Well, do you know already many companies that accept bitcoin as an alternative payment? many people want this, they will get clappers in this way, imagine if prices continue to skyrocket. you can buy an apartment. cars and more.

[dakilangisajaja]

Here we also make money with bitcoin so it's money called bitcoin, and Bitcoin can work without centralized bank or administration

[Akash1243]

Well now bitcoins isn't suitable for daily micro transtions like for buying groceries and etc mainly becauee of the transactions fees and confirmation time it takes for the transactions to be complete in this situation fiat is highly efficient than bitcoins or any other crypto currency.And using fiat for daily would be convenient than using bitcoins.

[Vasu Dev]

Bitcoin is most popular digital currency. People also take interest in it. they use bitcoin. people are now aware with it. people are investing in it. in short term bitcoin will become common currency globally.

[edwardnortonn]

They say that bitcoin is the future of money. What do you think if we use bitcoin in everyday lives as a money? Like buying foods. Or buying clothes. Do you imagine it positively or negatively?

Bitcoins are already used to to buy goods and services in  countries like japan and some parts of Canada. States in the USA are accepting tax in form of  BTC. so its already happening. only good things such as safety can come from the use of bitcoins as a medium of exchage

[ololajulo]

The governance system doing economic effort in each country has already provide their exchange. So it will be difficult for bitcoin to stay as money with theses systems.

[repan]

Nobody wants to spend their btc as most think that it will go up in price and they would end up spending way to much for the product

[goldade]

I do believe that one of the primary functions of bitcoin is to be used as a payment for goods and services, however, over the years it has been use for more of investment than of payment.
Nevertheless, this doesn't rule out it's primary function. Bitcoin can still be used as a means of payment if the following conditions are met.
1. If more companies especially online stores accept bitcoin as a means of payment.  
2. If those living in the remote areas have access to the internet.
If these two conditions are met, then bitcoin can be used as a means of payment for goods and services.

[hoanghoatham04]

For bitcoin and the whole crypto-currency and the future. Invest and earn Crypto currency now. In 5 years you will be happy, having a different credit currency

Bitcoin is a lot of money, but many people consider Bitcoin as a virtual currency asset, but many people still do not know Bitcoin. Although Bitcoin has been around for a long time, I think 2018 is the year. Crypto's development, as well as virtual currencies such as Bitcoin, will reach the desired number.

[brickafterbrickwalldpt]

Bitcoin could possibly become a currency which would be used in many countries all around the world. However, to acomplish that we need faster and cheaper transactions. Some say that the solution is simple and they say that we should lower the wait time between each block. I don't think that it is a good idea. There are a few off-chain transaction sollutions which are probably the best choice. The most popular is Lightning Network is slowly getting ready to become used by thousands of people.

[Ctn]

They say that bitcoin is the future of money. What do you think if we use bitcoin in everyday lives as a money? Like buying foods. Or buying clothes. Do you imagine it positively or negatively?

That day would be really great if we started buying almost everything with the help of crypto currency or more often with bitcoin itself. Just imagine no need to worry about the expenses of daily lofe, just earn from the internet and then spend offline. Very easy life and easy beer on the rocks too ! I do imagine all this positively and would love to see it happen within next decade. I don't know what it will take for that to happen. May be rules and regulation might need to change. I think this will take time but we should be positive about it. Whether it stays asset, currency or store value but it should be implemented for sure.