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Author Topic: How can we get people to use bitcoin as a currency?  (Read 24666 times)
wahyu wida
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December 04, 2018, 02:19:16 PM
 #381

How can we get people to use bitcoin as a real currency and not just a quick way to get cash as a lot of people seem to do? When I say currency, I mean the literal definition of currency as something that is used as a medium of exchange.
Even online, there are only a few stores who are accepting it as payment.
Nowadays as the price of bitcoin has not be stable this might be the hindrance of not getting to mass adoptions as those merchant will not accept bitcoin if the price fluctuation is too much high. People also had in mind that they are holding bitcoin for their future as assets as they hope that someday the price of bitcoin will give them fortune.
with the future of bitcoin, for now, it is indeed more effective to be used as an investment, so that it gets a lot of profit later. there are still many weaknesses in bitcoin as a means of transaction

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December 04, 2018, 02:45:11 PM
 #382

yes this is indeed a difficult thing because most people have used fiat money for years. it is difficult for people to accept new exchange tools. maybe by giving a discount. for example, the store will provide a 50% discount for buyers who use bitcoin to pay. but this can only be done in countries that legalize bitcoin as a means of payment. in a country that has not legalized bitcoin. it will be difficult.

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December 04, 2018, 03:06:15 PM
 #383

How can we get people to use bitcoin as a real currency and not just a quick way to get cash as a lot of people seem to do? When I say currency, I mean the literal definition of currency as something that is used as a medium of exchange.
Even online, there are only a few stores who are accepting it as payment.
People in our society will only adopt cryptocurrencies if they know what it is and if they have sufficient knowledge about it. We should influence them for the bitcoin to become more popular.

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December 04, 2018, 03:14:26 PM
 #384

I think it will take many more years before most of the people use bitcoin as a currency because it not yet widely adopted for use in transactions. You can always introduce bitcoin to anyone but only few of them might be willing to try using it as a currency. The volatility and rapid fluctuations of bitcoin might also discourage people from using it in their transactions.
It will take more years for us to see that most of the people will see the bitcoin as a currency. Lack of education is one of the main factor why most of the people is still unaware to what is cryptocurrencies.

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December 04, 2018, 03:37:05 PM
 #385

It is very common among the advanced countries and show a positive growth for the online job industry and now many online shopping sites are accepting crypto so it is the 21st century achievement which we have seen in the form of crypto and bitcoin is the best payment method if we shows the goodness of crypto then people will easily come into this side for it's future use.

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December 04, 2018, 03:39:56 PM
 #386

Bitcoin BTC can be a currency only if its price is stable.
Not necessarily.  If I'm not mistaken, payment processors like Bitpay convert to fiat instantly so that there's no exchange rate risk for the merchant to deal with.  But volatility certainly does prevent businesses from actually accepting bitcoin (as opposed to bitcoin that's converted to fiat by the payment processor).  It obviously wouldn't be good for any merchant if they got a payment in bitcoin and then the price crashed shortly thereafter. 

As far as what we can do to promote bitcoin as a currency, I'm not sure there is much the average person can do aside from lobbying businesses (especially the big ones like Amazon) to do so, and my guess is that a lot of them don't want to be associated with an anonymous currency that's frequently linked in the media to criminal operations like Silk Road and whatnot.

Also, there are a lot of us bitcoin enthusiasts who don't want to spend it on mundane items or services where fiat will do just fine.  Why run the risk of missing out on making a profit if bitcoin starts to take off just because you wanted to spend it on computer equipment at Newegg or something like that?  I've always seen bitcoin more as an investment that has properties of a currency, but I've never been a big fan of actually using it as money.  Thus I'm not concerned that most businesses don't accept bitcoin.  If it stays that way, I'd be totally fine with it.
It is true that users are still patronizing bitcoins even the price of it is unstable. We can see a lot of stores nowadays that are now accepting bitcoin as payment, It is simply because they are now aware to its potential.

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December 04, 2018, 03:43:12 PM
 #387

Time... We still have too much rookie cowboys running around

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December 04, 2018, 03:57:08 PM
 #388

It won't be an easy task however, we can start from educating the up and coming generation. They can be special classes for basic schools. This will enable the majority get used to the crypto and it going to trend throughout generations.

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December 04, 2018, 04:05:50 PM
 #389

How can we get people to use bitcoin as a real currency and not just a quick way to get cash as a lot of people seem to do? When I say currency, I mean the literal definition of currency as something that is used as a medium of exchange.
Even online, there are only a few stores who are accepting it as payment.
The government should create a program where the people in our society will become aware to cryptocurrencies. They will start using it if they are knowledgeable enough.

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December 04, 2018, 04:14:02 PM
 #390

Bitcoin BTC can be a currency only if its price is stable.

Bitcoin can never have a stable price due to its decentralization and its volatility is much more aggressive than fiat currency as well.
And also, I can considered bitcoin as a currency because it can convert into a real cash/money whatever country you belong. Aside from that, we have no any obligation to convince people to our surroundings to use bitcoin as their currency, that would depend on their own discretion.

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December 04, 2018, 09:24:30 PM
 #391

actually it is very easy for everyone to use bitcoin that is the government inaugurates or recognizes crypto currency as the applicable currency I think everyone will automatically use crypto currency
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December 05, 2018, 06:40:24 AM
 #392

actually it is very easy for everyone to use bitcoin that is the government inaugurates or recognizes crypto currency as the applicable currency I think everyone will automatically use crypto currency

I am agree. Its depend on government regulation. If government recognize bitcoin as currency and allowing merchant accept bitcoin for payment, i am believe people will use bitcoin

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December 05, 2018, 07:01:49 AM
 #393

To be able to get the public to accept bitcoin as an exchange medium, there is the need for the improvement of the various key technologies of the blockchain.
 Once this is done, the blockchain would be able to bring value to everyday activities of the public, which would increase adoption rate.
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December 05, 2018, 07:28:28 AM
 #394

we can educate bitcoin as a digital asset and show the limited availability in decentralized ledger technology called blockchain all these unique features can be a digital asset

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December 05, 2018, 02:08:12 PM
 #395

Its hard to get people to use bitcoin by ourselves. In order to do it. I think we need the help of the government. Because they have the resources to educate allot of people to use bitcoin as a currency.

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December 05, 2018, 02:15:20 PM
 #396

How can we get people to use bitcoin as a real currency and not just a quick way to get cash as a lot of people seem to do? When I say currency, I mean the literal definition of currency as something that is used as a medium of exchange.
Even online, there are only a few stores who are accepting it as payment.
Enough education is the main key for the people to become aware to digital currencies. They will not use it as currency if they are not aware to what it is. By having enough education, people will patronize bitcoin easily.

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December 05, 2018, 02:19:41 PM
 #397

The problem with Bitcoin and crypto in general is that it's very volatile. The price keeps changing. Imagine accepting $5000 worth of Bitcoin for a TV or something and the next day Bitcoin is worth $2500. You've lost half your money in one day and all you did was accept BTC as payment.

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December 05, 2018, 02:25:51 PM
 #398

Even the price is not stable bitcoin can be a currency as long as many merchant will open their payment option to accept bitcoin.
Yes! merchant is the only way to adopt BITCOIN by many people all over the world.
As of now major use of bitcoin is just investment and trading.

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December 05, 2018, 09:13:51 PM
 #399

More people engage on bitcoin are more fund in investing on it because of its  good characteristics. Those people who really knows and have knowledge in crypto  use it as a currency  and adopt it.
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December 06, 2018, 02:38:45 AM
 #400

I am using a famous bitcoin wallet for me to pay my bills and for me to buy load. There are now communities around the world that fully accepts bitcoin as payment. Bu spreading awareness about cryptocurrencies, I amsure that most of the people will adopt it.

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