Time to stop using Bitcoin as a form of investment and start using it as payment

[vickybitcoin]

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)

Yes this could be another way of doing things while the price is at downtrend. but this doesnt mean that bitcoin as an investment doesnt have a hope i know that the price will recover soon and when the time comes people will appreciate bitcoin more.

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[Cult]

Shifting from fiat to btc is still pretty difficult due to bitcoin's high volatility. It's easier for companies providing IT solutions to switch to crypto as their product is usually not physical and doesn't depend on a fiat-based production chain much.

[TheGreatUnknown]

I think it's hard right now to see bitcoin as a payment and started using it at as a payment, this will only happen if the price of bitcoin becomes stable and stops fluctuating, but this will never happen since bitcoin is created as decentralized and the volatility of its price is continuous.

[4emer]

I also think that it is time to make Bitcoin a single cryptocurrency. And what would the others have realized that for him the future

[Nahl]

just like other people here that me personally want to see too bitcoin can use as payment but currently merchant stores still avoid bitcoin because high of volatility and regulation issue and to makes bitcoin as global payment is not an easy task even it took plenty of steps to reach to that achievement

[rasp]

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.

In fact, fiat money is also an object of speculation, especially in countries with struggling economy that are unable to stabilize their currency.
When war started in my country 4 years ago our currency lost more than 300% of its value.
I can only guess the scale of manipulations that took place when this process started.
What I mean is that cryptocurrencies are still young and are prone to all the "growing pains" of a relatively new technology.

[javierherr79]

From the day Bitcoin was created, some people used it as a payment, but once price start to grow, people see it as investment. Real BTC user are like 5% of all people in BTC, rest is investors. I use to use it, but now I don't see point to spend it.

[goldade]

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 know you are right. Bitcoin was not only created for investment but also for payments and for making simple transactions. However, this will still take some time to effect. So many people have bitcoins that they want to use for payment for goods and services but do not see those that will accept bitcoin as a means of payment. This shows that not so many people accept bitcoin as a means of payment for their goods and services.
For people to start using bitcoin as a means of payment, then there must be people to receive them. Although, some major online shopping sites accept bitcoin accept bitcoin,  it still cannot provide services which should be paid with bitcoins.

[krishnaverma]

I think it's hard right now to see bitcoin as a payment and started using it at as a payment, this will only happen if the price of bitcoin becomes stable and stops fluctuating, but this will never happen since bitcoin is created as decentralized and the volatility of its price is continuous.

2018 is a brand-new financial year with praiseworthy financial commitment, especially when it comes to investing in alt coins. Cryptocurrency shows an excellent promise for investors with alternatives to Bitcoin providing remarkable rewards to those who risk their money for an opportunity to gain profit.

The alt coins are also replacing bitcoins as payment medium. Now most prefer ETH for this because of less fees.

[Marlo Stanfield]

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)

It works much better as a unique financial asset class for global investments. Why would I want to spend BTC when I can use a credit card that gives me cashback, consumer protection from fraud, perks like travel insurance, the ability to carry a balance if need be for emergencies, ect ect.

Bitcoin can't compete in that regard at all. But it's great at being a secure investment that historically has been an incredible store of value.

[Vannie12]

This is basically true. I think many wanted it that way because they wanted profits. It is quite sad to see it that way too. An it seems it was lie this ever since the doubled value came quickly from $2,300-$2,400 to $5,000 in the year 2017. I observed that many jumped it just to invest more and pump the prices then it went $10,000 and that end up to $19,000 and pretty much just because of pumping it up the many investors cut some of their profits and maybe cashed them out leaving dumped new investors.
Horrifying event.
Any suggestions how to encourage them to use it as payment? Maybe give some good points where you can wisely use them.

[walemil]

I agree with you completely. Generally people see bitcoin more as a Cryptocurrency for investment and as such, anytime they need to use bitcoin, the first thing they think of is gain. The time has come for everyone to know that bitcoin use is not limited to investment. Bitcoin can be used for payments.

[Kahoy01]

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)

This is true and all, but aren't we all here profitting from bitcoib as an investment? Let's be real here. We are all aware that bitcoin is being used as a way to earn profits but so far it's the only thing this coin is capable of doing. Sure there are some big establishments that allows the use of bitcoins for transactions but they dissallow shortly after because of how unsta le of a crypto bitcoin is. If someday cryptocurrencies will become stable, then I guess it's time to throw investment in the garbage and use it as a transaction tool but for the meantime, let's support bitcoin for whatever it is.

[btccashacc]

Let's be honest, bitcoin is not ready for that due to the high cost and slow confirmation, the problem that the community is facing right now is the fee's are just too high comparing to another platform and that's why people create altcoin in order to solve this issue. I might confess that purpose of creating bitcoin so people can send money anytime, anywhere, simply. Anyway i was introduced to bitcoin for the first time as a payment tool and it was helpful.

[pooya87]

Let's be honest, bitcoin is not ready for that due to the high cost and slow confirmation,

what high fees and slow confirmation?
you are either copy pasting some comment from 7 months ago. or you are just spamming. fees have been minimal for 9 years except for ~3 months last year! and currently they are minimal again and it has been like this for about 6 months now.

the problem that the community is facing right now is the fee's are just too high comparing to another platform

other "platforms" also suffer from the same problem. you just haven't experienced it because you either haven't been watching (for instance ETH had $5 fees at some point last year) or because those coins are too dead that nobody even uses them. no usage = no transaction on chain = empty blocks = low fee. if their usage increases for any reason their fees will go up also.

and that's why people create altcoin in order to solve this issue.

wrong.
the right way to create an altcoin is to solve issues but unfortunately that has never been the purpose so far. the real reason to create an altcoin is to make money. that is why they are pump and dumps.

[ahmad21]

Really true. The volatility and the price reduction is happening because people dont want to invest in bitcoin. bitcoin no more lures them for a great return and this is why I think its necessary for people to now understand and take btc as a medium of payment. See price of anything at the end increases due to its utility and utlity of btc is in using it as a mainstream method of transactions. So quit taking it as investment and start taking it as your main money.

[Coleth]

It is hard to use Bitcoin as mode of payment at its state now since it is going down. You might lose, it is better to wait for the price to increase so you will benefit more even as you use as mode if payment.

[jthawks]

Bitcoin is seen as digital gold, and I think that view of it actually makes sense. People buy gold because they think its better to hold onto than fiat currency. Bitcoin is the original, but it still takes a few minutes to confirm a transaction.

For crypto to be used as payments widely, something serious is going to have to happen in a specific country or globally, where fiat becomes volatile and unstable. Then a currency like Stellar, which is has a 5 second confirmation time, and extremely small fees, might become widely used for payments.

[CODE200]

a very good point and i completely agree with it.

but it doesn't have to be only one. you can do both. you can use bitcoin as a currency but also have it as an investment. for example you buy bitcoin today at $1 to be able to spend it as a currency when it is  worth $2 which satisfies both investment and currency aspect of it.

the price rise, the volatility that comes with it and the fact that people will use it as an investment is inevitable.

Actually, bitcoin has a lot of purposes and uses. It can be used for payment transaction or it can be good for investments, but I'll really believe that it depends on us on how we able to used it. If we think that investment to it are very helpful to us then why not, we don't need to stopped it, just do what the best for ourselves.

[ice_man75]

It is hard to use Bitcoin as mode of payment at its state now since it is going down. You might lose, it is better to wait for the price to increase so you will benefit more even as you use as mode if payment.

For how long are we going to wait? Won't that just make us misers?

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.

That's overthinking: If I do this, this will happen. If I do that, that'll happen, what if instead of it going to 80$ it goes to 40$, you will feel happy then, but what about the person whom you bought it from, he'll be at loss won't he? We need to start thinking about others before ourselves and need to stop overthinking because it ain't gonna do us much good , this will be the stepping stone to make a better society.

If we want something we should just get it and not wait to make a profit.

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

(P.S. No hard feelings)