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Author Topic: How can we get people to use bitcoin as a currency?  (Read 22517 times)
mornabo
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April 14, 2019, 11:16:15 AM
 #721

Just need time. Over time, Bitcoin will enter our daily lives and be the same currency as any other money.
Yes, time has a major role in this. There are very few people around us who do not already hear about btc. But, in order to build reliance in this issue, there is a need for continued development over time.
Besides needing time for the adaptation process, of course we need the adoption of all merchants to use bitcoin as payment,
without many merchants, of course users will not want to use bitcoin as currency and payment
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April 14, 2019, 11:28:25 AM
 #722

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.
At present, in some countries, bitcoin is still used to pay for some products purchasing services. In the future, when the value of BTC has been confirmed by half of the world's population, it will definitely be used to pay for items. because then, people will not be afraid that the price of bitcoin will fluctuate or be dumped.

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April 14, 2019, 12:18:53 PM
 #723

Well, we cannot force every individual to use crypto currencies as their payment method but we can tell them the facts and necessary information to encourage them to learn first and be curious about the Bitcoin, on how it will benefits us in the forth coming future. This is not easy because taking action with this matter takes a long time to conquer and make changes with the community.

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April 14, 2019, 01:05:48 PM
 #724

I think we should focus on how to get people a knowledge about bitcoin or any cryptocurrencies, because we should not just make them use it as a currency without understanding how bitcoin can be used to be a medium of exchange and even the risk of using it. Here in my country bitcoin has been already legalized but the government still do not endorsing it to public to be used just like a legal tender due to its unstable price.

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April 15, 2019, 03:25:03 AM
 #725

I think we should focus on how to get people a knowledge about bitcoin or any cryptocurrencies, because we should not just make them use it as a currency without understanding how bitcoin can be used to be a medium of exchange and even the risk of using it. Here in my country bitcoin has been already legalized but the government still do not endorsing it to public to be used just like a legal tender due to its unstable price.

Right! People needs to be educated to all the aspects of Bitcoin like its core features and advantages over traditional payment methods so that they may be encouraged to try test it out and hopefully embraced it. I do think education is a crucial factor that will help it achieve massive adoption and enthusiasm.


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April 17, 2019, 02:20:42 AM
 #726

Bitcoin as a currency
_________________________________________
First things first , a currency needs to be :-
Stable
Widely acceptable

That means governments needs to actually allow it to be used so that there is no problem in the transactions from the government's side and also at the same time it shouldn't actually gain or loose a lot of price in a Short amount of time.

Bitcoins have problem with both of them but still at the same time you can actually do a lot of stuff with Bitcoins , buy a lunch and stuff like that.

It will be easier when these two requirements are met but you know it's not just a normal currency it's crypto-currency that means it is a store house of value and a investment at the same time , I think it's perfect the way it is right now .

We cannot hide the fact that Bitcoin is still unstable and not widely accepted around the world. Most people have been reluctant in using Bitcoin as a currency based on these facts. Despite this, Bitcoin is still the most popular cryptocurrency today. In order to solve these problems, Bitcoin's capacity needs to be improved, as well as, governments worldwide would need to accept Bitcoin as a legal form of payment. We already have the Lightning Network on the works, while governments are starting to accept and regulate Bitcoin more thoroughly.

Which means, that over time, more people will embrace Bitcoin as a currency for daily payments. Hence, all we need to do is to keep spreading the word about it for mass adoption to come into effect soon. Just my thoughts Grin


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April 17, 2019, 03:00:24 AM
 #727

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.

We just need a way to do fast enough microtransactions with low fees. Regarding the stability of the price, most things online are valued in fiat anyway. For example when I buy credits or pay bills the bitcoin is automatically converted to match the fiat value.

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April 17, 2019, 08:04:13 AM
 #728

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.

We just need a way to do fast enough microtransactions with low fees. Regarding the stability of the price, most things online are valued in fiat anyway. For example when I buy credits or pay bills the bitcoin is automatically converted to match the fiat value.
in general, many people have used bitcoin as money. even indirectly, trading in the market using bitcoin, can be said as a transaction. well, however, nowadays it's not so difficult to find people who use bitcoin as a currency.

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April 17, 2019, 03:48:06 PM
 #729

Just need time. Over time, Bitcoin will enter our daily lives and be the same currency as any other money.
Yes, time has a major role in this. There are very few people around us who do not already hear about btc. But, in order to build reliance in this issue, there is a need for continued development over time.
Few people have yet to hear about Bitcoin but there are still many people who are not interested in crypto because they lack understanding. It will take time to achieve the goal of Bitcoin as a means of exchange. Currently, Bitcoin is more popular as an investment medium than as a means of exchange because the community and infrastructure are not ready.

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April 17, 2019, 04:13:30 PM
 #730

Just need time. Over time, Bitcoin will enter our daily lives and be the same currency as any other money.
Yes, time has a major role in this. There are very few people around us who do not already hear about btc. But, in order to build reliance in this issue, there is a need for continued development over time.

Not only development but stability. It's hard because bitcoin can swing so much in a short time (though of course far less than some altcoins). As long as people think of Bitcoin's value in comparison to Fiat, any brick-and-mortar merchant accepting payment in bitcoin is almost doubling as a currency trader. We need to reset people's way of thinking about the value of bitcoin.
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April 17, 2019, 05:12:10 PM
 #731

Bitcoin has got a big positive side as well negative accessibility. Most of the time the negative news about bitcoin is spread much by the media which makes fear among the common people for whom bitcoin is completely a new thing. Describing the true usage and the possible ways to use bitcoin on good as well on bad will make people get the right information regarding bitcoin.

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April 17, 2019, 05:18:22 PM
 #732

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.

If you are a holder and an investor just keep sharing updates and news about Bitcoin in all your social sites, if you are a web developer create websites about Cryptocurrency, if you are a blogger creating a story about Bitcoin and cryptocurrency and if are all united in doing this, we will all eventually reach our goals.

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April 17, 2019, 05:23:45 PM
 #733

Bitcoin has got a big positive side as well negative accessibility. Most of the time the negative news about bitcoin is spread much by the media which makes fear among the common people for whom bitcoin is completely a new thing. Describing the true usage and the possible ways to use bitcoin on good as well on bad will make people get the right information regarding bitcoin.

Exactly. Pitching it in a way that the average person can understand it is difficult.

Something like the cloud is easy enough for most people to wrap their head around ("it's your data but it's stored on a bunch of other computers so you can access it anywhere").

Bitcoin and cryptocurrency/blockchain in general is just far more complex, conceptually.
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April 18, 2019, 04:46:55 PM
 #734

i think the reason that people do not like to use cryptocurrencies as a real currency is the volatility. the volatilities are so damn high and that is why normal people are scared to use it as a currency.

They take volatility as the absence of stability. They are afraid to lose a lot if they invest much in the cryptocurrencies. Therefore, people choose the way of staying away from crypto.
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April 18, 2019, 05:11:27 PM
 #735


Bitcoin has become a currency, and we have used bitcoin for several years, but it hasn't actually been used like a fiat currency that people know. The reason is that it hasn't been supported everywhere as a payment method either online or offline. That's why people still consider Bitcoin primarily as an asset, they trade and hold it to make big profits, and more results.

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April 18, 2019, 05:34:28 PM
 #736


Bitcoin has become a currency, and we have used bitcoin for several years, but it hasn't actually been used like a fiat currency that people know. The reason is that it hasn't been supported everywhere as a payment method either online or offline. That's why people still consider Bitcoin primarily as an asset, they trade and hold it to make big profits, and more results.

That and the high volatility, preventing anyone from accepting it unless they also want to get into the currency trading business in some form, almost.
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April 18, 2019, 06:12:14 PM
 #737

Bitcoin according to the whitepaper and vision of Satoshi Nakamoto was to see bitcoin as another means of making payment for transactions hence a true definition of a currency. But along the line bitcoin is now being held as an asset with very little functions of a cryptocurrency. We can increase the use of bitcoin as a currency if we educate more people about it and also tell them of its features over that of fiat currencies.

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April 18, 2019, 06:24:25 PM
 #738

Bitcoin according to the whitepaper and vision of Satoshi Nakamoto was to see bitcoin as another means of making payment for transactions hence a true definition of a currency. But along the line bitcoin is now being held as an asset with very little functions of a cryptocurrency. We can increase the use of bitcoin as a currency if we educate more people about it and also tell them of its features over that of fiat currencies.
It's indeed a thing which is important, when a lot of people uses bitcoin as investment place then we will never see bitcoin be used as payment system by its users. The habit of the person is so hard to change if they have been comfortable to use bitcoin as of it. Hopefully, this is only regulation factors, as you may know just a few merchants who uses bitcoin as payment system and even for those who still have confidence to ban bitcoin to be use it. So I think this is not about volatile side which owned by bitcoin who has talked by many people, but it is regulation factor because when government allowing bitcoin to be use as payment system then we will see lots of merchants also who uses it.

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April 20, 2019, 03:05:05 AM
 #739

We just need a way to do fast enough microtransactions with low fees. Regarding the stability of the price, most things online are valued in fiat anyway. For example when I buy credits or pay bills the bitcoin is automatically converted to match the fiat value.

Exactly. With high fees, and slow throughput, we cannot expect for people to use Bitcoin as a currency for their daily lives. Nowadays, people are looking for something convenient and easy to use. Since Bitcoin is somewhat hard to use, most people have been afraid of joining it in the first place. However, everything is bound to change soon as the Lightning Network becomes adopted within the mainstream world.

Only then, Bitcoin can perform faster and cheaper than ever. Also, prices need to stabilize in order to use Bitcoin as a currency instead of a store of value. But, as Bitcoin matures within the crypto space, it's hoped that more people make use of it as a serious currency for their everyday transactions.

Nonetheless, it's our duty as experienced crypto users to bring newcomers into this space. Only then, adoption will grow, and Bitcoin will be known to anyone worldwide. Just my thoughts Grin


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April 20, 2019, 03:18:31 AM
 #740

Crypto must have a role from the government, I mean the government must support legalizing crypto and encourage people to use crypto. The role of the government here will be very large and very influential.
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