Bitcoin as money

[Paka1]

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 could view bitcoin as a money positively, because we could buy goods through it, we could make online transactions as well.  It will be more convenient because it is transferred peer to peer without any third party. So the mode of paymentt would be much easier than the usual transaction that we make.

[serizawax]

It is very possible, or not, but if it is to be true it is very difficult, because here we talk about the price again, cheap and expensive bitcoin price actually it does not matter, the problem is the fluctuation.

[qwertyup23]

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 highly see bitcoin as the gateway towards this technological advancement of digitalised payment in the inevitable future but there are a lot of things to consider when applying bitcoin as the main currency in the world. Remember that what determines the value of paper money is the number of gold reserves per country and it is only a representation of such value. Now for bitcoin, applying it to all transactions would require it to be fast as compared to fiat. Since it utilises the blockchain technology, I doubt that it would be.

It is very possible, or not, but if it is to be true it is very difficult, because here we talk about the price again, cheap and expensive bitcoin price actually it does not matter, the problem is the fluctuation.

I agree. Due to its high volatility and lack of government intervention, bitcoin prices are very unstable making products/services inaccurate in terms of pricing. Also considering the economic discrepancies per country, I doubt that we will be seeing bitcoin as the main currency soon. It may be regarded as an alternative method of paying your bills but as for a main currency, I highly doubt it.

[burnchan]

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?

We don't know yet what will be our future money, but if Bitcoin will be chosen then probably it is already supported by the government and its price is already stable. So when that comes all establishemnts (big or small) will shift to online transactions.  I think there will be no issue if we use Bitcoin in our daily living. In fact, it will be more convinient and faster because we don't need to bring cash. Likewise, its accessible. All we need is internet connection and mobile phones.

[jhayryl]

Yes it really helps us especially if in the future. Now I just use it and buy my likes like stuff, clothes almost everything I want to buy because of bitcoins. So I'm sure that in the future more bitcoins can help us. Believe me and perseverance I'm sure it will grow bigger.

[Dudeperfect]

The core principle of Bitcoin states that it is a payment system and we should use it in that way instead of focusing on speculation part of it. However, we need to work on some issues like high fees and time especially for the offline transactions. I do see optimistic picture in the coming years about the market environment having crypto in it.

[CryptoSmile]

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's what the original vision of Satoshi, to used bitcoin as digital currency without third party involved. However, in the last couple of years, bitcoin has become a investment platform like store of wealth for big investors.

Of course I would like it to be like cash that we can used for our everyday lives, sadly though its not yet realized but I'm still positive that we can achieved that in the future.

So let see how it goes specially with Lightning Network already in the horizon. You can open channels from A to B and transaction will be quick and seamless.

Bitcoin has been regarded as digital currency and accepted in several countries in the wolrd. The more suitable word to use is digital asset with high value. It can be used as Investment instrument but in some countries it is banned because can influence the stability of the local currency . It can not be used as payment method or economic transaction. It should be used as alternative payment instrument for non cash transaction. When bitcoin holders want to use it for paying something, it must converted to local currency first.

[beezare]

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?

making bitcoin as money certainly there are advantages and disadvantages because not all places can accept bitcoin and bitcoin transactions have a large fee,

[mOgliE]

Hi ,

This could be interesting, indeed. Though, I see two main issues here:

- For the moment, volatility. The price can completely change from one day to another. Over the same year, prices can be absolutely out of proportion. So for daily use, I guess bitcoin is not suitable as long as it is so erratic.

- The technical network doesn't exist today. We don't have the technical tools. And time will pass between the creation of such tools and their spread in the whole society.

[johnine]

Well actually that is the reason why bitcoin is created, it is created to become a virtual currency, to be used for daily purposes, however what happened right now is not what it is supposed to be. It became an investment for the wealthy people, for them to earn big profit. But maybe in the near future it'll be used as a currency for everyday use. Since there are a lot of projects that are coming up today, and technology is taking it's charge, technology is being part of our daily lives nowadays, so there is a high probability that our kids and grandkids​ will be one who will benefit it. 

[weblouartisan]

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?

The only problem about bitcoins is the transaction fees that much expensive more than the price of the product you are interested to buy but aside from that, bitcoins is good for using as a payment method to buy products and goods online.

[geopolisch]

I think that this is positive, because it is more convenient to have all of your funds on one well-protected wallet, pay off anywhere in the world and in any store one currency is also very convenient.

It is positive and bitcoin is already  a money because it is use for payment, use in merchant transaction. Bitcoin is a new form of money, a digital curenccy. However it depends how to threat bitcoin in our daily needs.

Bitcoin is actually an advanced form of money and that it can really help us in having anything which we need to have in our lives as you can buy anything you need to have by giving away your bitcoins. However for now, most of the people are only using bitcoin for the sake of investing money as they are interested in making more money by investing in it and also the usage of bitcoin as money is not very much common.

[Alamin2]

We probably said that Bitcoin is the future of money. But it's containt so many good side behind a major problem.Because criminal make a crime so easy and hiding himself. There are no option for searching them into the Internet. But I hopefully said that it's future will going to be bright.

[lelylely]

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?

Bitcoin is the crypto currency that will be more popular in the future. But I prefer to use bitcoin as an investment that can change the future, the bitcoin price increase that makes bitcoin a good choice for investment.

[hahay]

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 never imagined such a thing, but if viewed from the positive and negative it will vary.
Positive: The world will continue to evolve in the direction of an advanced and well-developed technology.
Negative: If we are allowed to transact with bitcoin in real life, what I'm worried about is the currency replaced by cryptocurrency.
There are still many things I can not say here, but there must be positive and negative values.

[Yzhel]

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 never imagined such a thing, but if viewed from the positive and negative it will vary.
Positive: The world will continue to evolve in the direction of an advanced and well-developed technology.
Negative: If we are allowed to transact with bitcoin in real life, what I'm worried about is the currency replaced by cryptocurrency.
There are still many things I can not say here, but there must be positive and negative values.

Well good thing that you have brought up with the positive and negative, well in every innovation there is always a consequence, and if we will not make change and we will just continue what made us comfortable what will an 'innovation word will do? The negative side that I am seeing when it happens will be the price of bitcoin, it might not rise or down.

[HarryBeroe]

In my opinion. If bitcoin used as money to buy food or daily necessities, the cost of the transaction is greater than the price of the goods that we will buy. Maybe to buy something, it's better to use Altcoin, because the transaction costs are smaller.

[tdrinker]

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.

I really did not know about this, I'll definitely look in to it. If that technology already exists then I have to agree that you're right that in time cards will be phased out. I don't think we are quite there yet though so I do feel there will be a period where cards are necessary for cryptocurrencies. I guess even beyond mobile phones we will eventually have something along the lines of microchips fitted in each individual that can be used for idenfitication and payments.

[coinbitrade1994]

I think that it is possible to switch to payment by bitcoins instead of money. But you need to get rid of a few nuances about the speed of transactions and commission. Well, of course, it's huge jumps of course. And it is quite possible to implement such a system

[reda]

I think that it is possible to switch to payment by bitcoins instead of money. But you need to get rid of a few nuances about the speed of transactions and commission. Well, of course, it's huge jumps of course. And it is quite possible to implement such a system

Bitcoin is future digital currency. So it easy to exchange any country currency. people will be save any country currency and it will use any where. It reach all country. So any country people will be use the future growth and future saving. It part of the country people growth. It good information for the future growth and future save for the business improvement.