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Author Topic: Time to stop using Bitcoin as a form of investment and start using it as payment  (Read 418 times)
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July 05, 2018, 05:09:02 AM
 #101

So the current bitcoin market is just for speculation, and if we want the community to grow, we have to let bitcoin be used by more people and more businesses to use bitcoin, only in this way the entire encrypted community is likely to go on.

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July 05, 2018, 05:10:01 AM
 #102

Not everyone who buys bitcoin thinks of doing HODL and pumping, a lot of people buy bitcoin for them to spend in cyberspace. Like gold lovers, not all gold buyers make an investment to make a profit. They also buy so they can enjoy their beauty, even some of them are willing to lose a lot of money even though they have to buy at a high price.
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July 05, 2018, 05:10:38 AM
 #103

i dont think its the right time to use bitcoin as payment since it is still volatile. needs to be stable enough to be a viable form of payment,
If you want the price to become stable then we need to stop using as bump and dump coin or else the price will be volatile forever.I know still the bitcoin is not yet ready for payment because harldy ever we can find a shop who accept bitcoin as payment but what we can do is start holding them instead of buying and selling it will leads to the price will be more stable.

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July 05, 2018, 04:21:43 PM
 #104

I absolutely agree with the fact that bitcoin does not need to be used so massively as a means of investment, that is, as a means of accumulating value. It needs to be used more as virtual money, as a means of payment. Otherwise, if it continues to be used as a means for long-term retention, it will rise in price, however, after that, a panic is also very likely, after which it can very low fall in price. For the crypto currency, this will be a serious blow, which will be much more serious than the current fall. This can be repeated many times, until bitcoin ceases to be used primarily for retention purposes of making a profit.

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July 05, 2018, 04:46:58 PM
 #105

People's thoughts about Bitcoin are very diverse and whoever is can right, you see Bitcoin as a system or technology that people can use and can be useful. but most people see Bitcoin as a valuable asset and some even say as a Digital currency that can replace paper currency. I personally see Bitcoin as an Asset that someday people will need, but what you say is "really stupid if I make bitcoin as an asset".

for a layman like me, all this is very confusing, either who is right. but if we look at the function of Bitcoin, we can infer ourselves, what bitcoin would be!

Bitcoin is a technology Blockchain, Blockchain system has a very strong defense called decentralization which means, the right of all use he set by its own users.

the way the Blockchain System works is a chain, in every chain cover each other and strengthen so as not to be stolen by others. or we can describe as metamorphosis, meaning that every bitcoin block will develop and update itself and change the system code so it can not be stolen. I forgot the system is using Bit (maybe others can add it).

Bitcoin is currently used for transactions that replace paper currency and not through third intermediaries.

because the price is very volatile, it is used by some people to gain profit only. many are profitable and many are also losses, from here created bitcoin as a short-term asset and long-term assets.

from the above sentence string, you can all conclude what bitcoin will be, please!

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July 05, 2018, 05:01:20 PM
 #106

Not everyone who buys bitcoin thinks of doing HODL and pumping, a lot of people buy bitcoin for them to spend in cyberspace. Like gold lovers, not all gold buyers make an investment to make a profit. They also buy so they can enjoy their beauty, even some of them are willing to lose a lot of money even though they have to buy at a high price.
You don't have to compare gold to bitcoin in this situation. People usually buy gold items, for example necklaces not only for beauty but because of it's very stable price. You have accecories which can turn into money in pawnshop if you are in a hurry, at least in my country a lot of people really own gold items for that reason.
And now what's about bitcoin, it's used for investment because it's easy to rise price or manipulate, you can see how coinmarketcup affected it's price in minutes, how china's one word affected it and there are a lot of examples. In reality bitcoin is payment way, anonymous and accessible for anyone. It's also great wallet too, you can own as much money as possible in one flash drive, create cold storage... There is a lot of things I can talk...
But bicoin is used for investment because of it's money making benefit, we can compare it to aids which are used by sportsmen because of it's benefits for them.

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July 10, 2018, 01:13:40 PM
 #107

As of now that bitcoin has a lower price I don't think it is better to be as a payment especially not all governments are accepting bitcoin so it not all countries will use it as a payment and it is unfair for some people who are using bitcoin eventhough it is not acceptable in their country so we must should let businessmen invest more and more and let people recognize it first before implementing it right away.

I agree with you about doing some shopping or something else using Bitcoin. It can be as a payment in a few years but not now. People are not ready for that
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July 12, 2018, 11:49:59 AM
 #108

I have seen people buy low, hoping to sell it at a high level. But all I see is that people only talk about how much they earn, not how it can help people with no access to the bank. At the end of the day, we become barbarians and just thinking about profit is not good that it can do for us, rather than make us rich. So you can do both. You can use bitcoin as a currency but also have it as an investment.
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July 15, 2018, 07:19:01 AM
 #109

Listen to me.

Look I know we are a free community, but come on don't you think the price has become so volatile during the past few months just because people started using it as a form of investment. I've seen people buy in low, in hopes of selling it at high, and that's basically pump and dump.

Bitcoin wasn't created to make us rich over night but was created so we could have control over our money and not the bankers. It was created so we could be free, so there won't be any borders telling us we are different from them so we can't trade with them. To be united, but all I see are people only talking about how much profit they've made, not about how it can help people that don't have access to banks(they do but it's a minority).

We live in a society where we take everything for granted, just like we've taken Bitcoin for granted. We don't deserve it. The ones that deserve it don't have access to it.

At the end of the day we become savages and only think about the profit not the good that it can do for us, instead of making us rich.

Yes, I was introduced to it because of the investment, but I was a fool at that time, I couldn't see the bigger picture.

We are a community created for the people, by the people.

(P.S. If you don't see Bitcoin as investment, then be proud of it, and hope it can help us be united, for it's all that we have left against them)
Well said, but the fact that using bitcoin as a means of payment is hampered by regulations from different countries across the world, and subject to approval by the world financial institutions like IMF, World bank etc, and btc price fluctuations I.e unstable, highly volatile is another major setback in achieving the desire result of using it as a means of payment.



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July 15, 2018, 07:27:23 AM
 #110

I understand your point, it is just that, Bitcoin doesn't need to be use just as one sole purpose. If we can use it as both, we should be able to maximize it and use it as both not just only as currency or only just as asset for investment. One of the things that makes Bitcoin awesome and great are the things that we can do with it, its multi purpose. Hence, adding more reasons why we love it.

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July 15, 2018, 07:29:44 AM
 #111

It's a good idea to say that because bitcoins have made the payment faster and become less fee, But on the one hand we also find it difficult to consider it as a form of payment because of its volatile price. But only one answer would be to keep the whales in control of the market that are hard to accomplish.

I've also agree with this kind of idea. Bitcoin transaction is more faster than anyone else and it also less fee so other people will be able to patronize this kind of transaction. If we use bitcoin as a payment in every things we buy or sell. But due to the volatile price of bitcoin in the market, I think it's hard to introduce this to be a payment form.

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July 15, 2018, 07:40:06 AM
 #112

absolutely concur with you, yet I don't believe it's that straightforward. We cant basically separate the two things, and despite the fact that fiat exists for individuals to utilize it to purchase and offer things, we have forex markets, where individuals simply exchange it for benefit. So my point is, that we will dependably have the two things in bitcoin, and that is splendidly ordinary. We do need to expand BTC utilize case, since right currently there are not very many individuals that utilization it as a money, yet we don't generally have a ton of alternatives to do that, so BTC still needs to develop facilitate first.
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July 15, 2018, 07:47:11 AM
 #113

What OP say fits perfectly with what I expect, unfortunately governments in our country strictly prohibit if bitcoin's used as a currency (means of payment) and the government strongly condemns for those who adopt it.

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July 15, 2018, 07:51:23 AM
 #114

One big drawback of Bitcoin which makes it inapplicable for small daily purchases is the transaction fees. These fees will rack up rather quickly if you don't use cash for things as small as a bottle of water or bus tickets. Bank-issued cards have 0% fees when used at a POS by customers, because the merchants are covering the fees unlike Bitcoin where we need to pay the miners so that we can move our coins around in due time. Money transmission of sizeable sums is where Bitcoin shines though, because banks charge more for international transactions while Bitcoin has a flat fee which is extremely small in comparison. In a nutshell, Bitcoin can save you a lot of fees when sending big amounts and cost you dearly when buying small things frequently.

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July 15, 2018, 07:58:39 AM
 #115

If we're going to use bitcoin as a form of payment then the first thing to do is to stabilize the currency itself, since bitcoin was made decentralized its only become another issue. I don't want to buy an item with bitcoin for $1k just to know that the value will drop 10% the next day. Thats why lots of merchant trying to implement cryptocurrencies is thinking about. Since bitcoin price purely made by market or should i said that its hardly manipulated unless some "whale" holders were starting to jump off the board.  Roll Eyes

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July 16, 2018, 02:21:14 AM
 #116

I totally agree with you for payment or transaction, because Bitcoin has a value that can not be in fake or made twice.

I think it's a constraint when the price of Bitcoin fluctuate then the price can not be controlled, let's say today we buy a motorcycle with 1 Bitcoin at $ 6,000 but tomorrow Bitcoin rises in price to 1 BItcoin = $ 8,000, then the price move in an instant this can be a miss komukiasi in the price of goods (motorcycle).


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tnguye01
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July 16, 2018, 02:32:54 AM
 #117

Can't wait for that day!  Remove all the middle men!


Listen to me.

Look I know we are a free community, but come on don't you think the price has become so volatile during the past few months just because people started using it as a form of investment. I've seen people buy in low, in hopes of selling it at high, and that's basically pump and dump.

Bitcoin wasn't created to make us rich over night but was created so we could have control over our money and not the bankers. It was created so we could be free, so there won't be any borders telling us we are different from them so we can't trade with them. To be united, but all I see are people only talking about how much profit they've made, not about how it can help people that don't have access to banks(they do but it's a minority).

We live in a society where we take everything for granted, just like we've taken Bitcoin for granted. We don't deserve it. The ones that deserve it don't have access to it.

At the end of the day we become savages and only think about the profit not the good that it can do for us, instead of making us rich.

Yes, I was introduced to it because of the investment, but I was a fool at that time, I couldn't see the bigger picture.

We are a community created for the people, by the people.

(P.S. If you don't see Bitcoin as investment, then be proud of it, and hope it can help us be united, for it's all that we have left against them)
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July 23, 2018, 10:37:28 AM
 #118

I think it is always good time to start investing in it. You don't need to stop it if you want to make payments. Technologies are still growing up and what kind of payments you can do depands from them. Getting profit and making payments are two different same but the same for everyone personally.
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July 23, 2018, 10:53:44 AM
 #119

I don't think so, at least at the moment, because the volatility of bitcoin is still high, once day you use bitcoin to buy stuff, the day after, the price of one bitcoin could go up to thousand dollar, that means you might spend more to buy something with the same value. Then it won't be a right choice
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August 01, 2018, 10:00:56 AM
 #120

Listen to me.

Look I know we are a free community, but come on don't you think the price has become so volatile during the past few months just because people started using it as a form of investment. I've seen people buy in low, in hopes of selling it at high, and that's basically pump and dump.

Bitcoin wasn't created to make us rich over night but was created so we could have control over our money and not the bankers. It was created so we could be free, so there won't be any borders telling us we are different from them so we can't trade with them. To be united, but all I see are people only talking about how much profit they've made, not about how it can help people that don't have access to banks(they do but it's a minority).

We live in a society where we take everything for granted, just like we've taken Bitcoin for granted. We don't deserve it. The ones that deserve it don't have access to it.

At the end of the day we become savages and only think about the profit not the good that it can do for us, instead of making us rich.

Yes, I was introduced to it because of the investment, but I was a fool at that time, I couldn't see the bigger picture.

We are a community created for the people, by the people.

(P.S. If you don't see Bitcoin as investment, then be proud of it, and hope it can help us be united, for it's all that we have left against them)
bitcoins are created for digital currencies and they may be groups that want to forgive bitcoin as an investment, so bitcoin remains as a digital currency and can still be used as an investment.
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