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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)
CrazeCoinz
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August 01, 2018, 10:19:04 AM
 #121

It's a reality that people will think bitcoin as investment due to decentralize currency and in the future when all people will hold the supply will become limited and this will make the price rise to higher with a bigger profits those who hold. Although i see many countries use it as currency but here in my country I never see any department store that accepts bitcoin or cryptocurrency. We need to increase more adoption of bitcoin if we want this to be use as currency.

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August 01, 2018, 11:05:39 AM
 #122

We can't really change how it has become. People come here for profit but who can blame them? Bitcoin has become a speculative asset that people make profit from.
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August 01, 2018, 11:10:07 AM
 #123

It's so hard to see it in that way, even if Lighting Network can reduce the fees, it's about peolple's choice to make it happen. And when they are feared about losing cost opportunity it's inevitable to use it as an investment.

Unlucky no one seems to care about social revolution but to gain personal profit.
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August 01, 2018, 10:49:55 PM
 #124

Since the vision of Satoshi to make bitcoin as a digital currency has swerved from payment for any commodities and services to investment scheme, it is really hard already to take that notion away from people especially those who already earned and become wealthy due to bitcoin / crypto investment.

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kendra1107
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August 01, 2018, 11:13:18 PM
 #125

This is ideal because this is actually what Bitcoin was created for. But we cannot really sway users from investing because they do see the great potential for profit in it. I wouldn't say that seeing Bitcoin as an investment rather than a form of payment is a disadvantage. This is just one of Bitcoin's features that many of us can take advantage of.

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August 01, 2018, 11:22:06 PM
 #126

This is ideal because this is actually what Bitcoin was created for. But we cannot really sway users from investing because they do see the great potential for profit in it. I wouldn't say that seeing Bitcoin as an investment rather than a form of payment is a disadvantage. This is just one of Bitcoin's features that many of us can take advantage of.
It is a big consideration and the question is when it start?
 We knew already bitcoin isn't accepted by some merchants and yet,  establishments isn't ready for this form of currency.  Of course,  they'll take chances of gaining more profit than of using it as payment for their transactions.

uchiikina14
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August 02, 2018, 12:09:15 AM
 #127

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)

I agree to what you are telling us all you have said is true. For me BTC is a form of an investment and I am proud of it and I also see the BTC as it can help peoples who have a financial problem. For those who just want an earning from the BTC then it is not for them because in BTC it is not an earning for a day but it is an earning for a month you have to work for it for a months then you have to wait for your reward/earning from that month that you have work. Trading is not an earning for a day but for the week because in trading you have to monitor the price for a week before you can trade it. If you buy and then trade it right away then you will eventually might lose what you have invested. So for me if you buy now then you have to monitor the price for a week or lets say 3days before you trade it.

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Nanagyasi
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August 02, 2018, 12:34:48 AM
 #128

I agree with your point but I think this has become an issue because of
1. Btc volatility
2. The transaction fee.
Many of us here have been thinking same but the fact is, we are not willing to do that either especially when the price falls so I do think for this to happen, we need to initiate it.

Ozero
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August 03, 2018, 04:50:02 AM
 #129

Probably the reason why people are not using bitcoin as payment because of its volatility. If you buy a shoes worth .01 btc or roughly $60 and tomorrow that .01 btc will be worth $80 so that you just paid $20 over the price of that shoes. So that won't really mean good for you. So i think bitcoin being so volatile makes people not want to use it as payment.
Proceeding from what you said, it turns out that bitcoin is only then massively used as a means of payment when it reaches its maximum price. That is, when this happens, no one can say. In other words, bitcoin will not yet be used massively as a means of payment, that is, as virtual money, because everyone is still hoping for its rise in price. However, when people are convinced that bitcoin will not grow in price, it can only be if it falls very low in value and practically becomes useless to nobody. Hence the conclusion - bitcoin will almost never be used primarily as a means of payment, but only as a speculative means of accumulating value. This is a dead-end option for its development, because in any case it will lead to the rupture of its bubble, it is inevitable.

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August 03, 2018, 04:52:26 AM
 #130

In order to stop using Bitcoin as an investment of funds and begin to use as a means of calculation, it is necessary a lot of coordination of financial supervision departments.

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