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Author Topic: How can we get people to use bitcoin as a currency?  (Read 25232 times)
ShadowBits
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October 20, 2018, 02:58:24 PM
 #81

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.

I think people can't yet use Bitcoin as a currency since its price is so volatile. How would you accept a currency if you buy it with a certain price and in the next morning that price of the currency will fall drastically?
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October 20, 2018, 09:30:28 PM
 #82

This will come with time, with the development of infrastructure, when it will be convenient for people to use cryptocurrencies.
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October 20, 2018, 10:34:55 PM
 #83

bitcoin is almost like a currency and can be used as a transaction tool, but the function of bitcoin as a medium of exchange cannot be used generally in society because most countries have not been able to form bitcoin as a legitimate payment transaction tool and are still a pros and cons in most country
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October 20, 2018, 10:36:19 PM
 #84

in my opinion, so that bitcoin can be used in its use, the first thing to do is the absence of fluctuations, is not volatile and also eliminates any manipulations that occur within it. it must be admitted, this is indeed very difficult. but that is also for the good of all users

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October 20, 2018, 10:59:11 PM
 #85

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.
Then introduce it to them to use it but if you mean that use it like a fiat currency there must be some regulations to settle first before doing so, because first of all we are talking about money and it could affect in our daily lives, businesses, and other factors that needed to pay with cash, i mean flat hard cash.

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October 20, 2018, 11:22:12 PM
 #86

Bitcoin BTC can be a currency only if its price is stable.
I think not! Why? Because I consider it as a currency today. However, it is just a digital P2P currency where we can send and receive whether we are in any part of the world. It is not stable because bitcoin is a volatile coin and because of its supply, it has a high fluctuation. Therefore, bitcoin does not need to be currency because it invented as an innovated form of currency.

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October 20, 2018, 11:26:45 PM
 #87

bitcoin is almost like a currency and can be used as a transaction tool, but the function of bitcoin as a medium of exchange cannot be used generally in society because most countries have not been able to form bitcoin as a legitimate payment transaction tool and are still a pros and cons in most country
Yes.If all of the countries will agree to make bitcoin a legit currency,then for sure people will start practicing this and those who have not known bitcoin will start studying it so that they can cope up with the fast changing technology nowadays.




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October 20, 2018, 11:40:16 PM
 #88

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.

   Bitcoin was created with the nature of being Volatile. It could not be a national currency because it is not stable. And people earn a lot of profit because of bitcoin volatility. Bitcoin is dessigned to be a digital asset and investment not just a currency. Just my opinion.

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October 20, 2018, 11:48:23 PM
 #89

I think all of that is based on the belief that bitcoin has value. though, to become a legitimate currency must meet certain criteria. the first time money is created, it must be backed up with something that has values such as gold, silver, and others. the more money in circulation, the more gold is stored by a management agency.
to be accepted as a payment instrument, first instill the belief that bitcoin has value not only on the exchange machine, but can enter the real market. to achieve that, bitcoin must get approval from the government as a regulator. so, the point is the regulation. if the government has made a regulation that legalizes bitcoin as a means of payment, then bitcoin itself will be easily accepted by the people in the country.

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October 21, 2018, 09:16:04 PM
 #90

Bitcoin can be use for any transactions but i think it will be a currency if it is on stable price and if  all people  accept bitcoin. We know that there are people who are really against bitcoin but if they really understand  the capability of it people will adopt it slowly but it will takes time to become a currency.
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October 21, 2018, 09:28:11 PM
 #91

Bitcoin can be use for any transactions but i think it will be a currency if it is on stable price and if  all people  accept bitcoin. We know that there are people who are really against bitcoin but if they really understand  the capability of it people will adopt it slowly but it will takes time to become a currency.
bitcoin will not be stable because the price is volatile and easily fluctuates every year. not everyone will use bitcoin and success with it, because the success of that person is different.

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October 21, 2018, 10:17:45 PM
 #92

Bitcoin can be use for any transactions but i think it will be a currency if it is on stable price and if  all people  accept bitcoin. We know that there are people who are really against bitcoin but if they really understand  the capability of it people will adopt it slowly but it will takes time to become a currency.
bitcoin will not be stable because the price is volatile and easily fluctuates every year. not everyone will use bitcoin and success with it, because the success of that person is different.

I think the first step is came from the store or malls, because if they accept it, people follow to used it as a currency.
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October 21, 2018, 11:41:20 PM
 #93

Wanting bitcoin to become official currency and used in everyday life, bitcoin needs to be price stable. The price of bitcoin also depends on investors and the money market, high prices at low. How do we dare to use the official in daily payments.
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October 21, 2018, 11:58:23 PM
 #94

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.

you should first pray for governments to regulate bitcoin because only with all governments regulating bitcoin it may be possible to use bitcoin as currency. Let's give an example, imagine if in my country bitcoin was regulated and I had the bitcoin debit card, I could buy many things using bitcoin, the markets could have machines that would allow me to buy things using bitcoin, the gas stations could have machines that allow me to pay for gasoline using bitcoin. but this is all possible if bitcoin is regulated by all countries.

that's not what makes something a currency/medium of exchange.

all throughout history, there have been prevalent mediums of exchange before government regulation existed---various forms of commodity money, seashells, stones, salt, rice, etc.

the fundamental issue is that most consumers have no interest in using bitcoin at the register. the vast majority of consumers don't even own bitcoins. and those that own bitcoins probably don't want to spend them (see above re: gresham's law).

if consumers wanted to spend them, merchants would accept them. there are very few places where it's illegal to transact in cryptocurrency.

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October 22, 2018, 01:29:47 AM
 #95

Many business operation has used bitcoin as a currency but the amount is a little bit. therefore , what We need do is encouraging people use it as a legal currency . TO achieve this goal, some regulation need to be undertaken, such as increasing the stability, security, or avoid being scammed
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October 22, 2018, 01:36:05 AM
 #96

There are some issues that prevent Bitcoin become currency, the stability of Bitcoin is not too good, the price swing too much and too deep makes the local store difficult tonsetbtheir profit, the other issue is the legality, many countries still have an unclear legality,this makes the investors become not sure to invest in crypto


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October 22, 2018, 03:17:50 AM
 #97

As a currency, crypto has been accepted onlibe. As viable payment for internet services and premium content viewing. I've seen only a handful of businesses accepting crypto currency in the real world, ranging from clothes to food. But these businesses are very strict about the amount of stuff you have to pay for.

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October 22, 2018, 03:51:50 AM
 #98

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.
still requires a long process and time for the process, because there are still many countries that have not legalized and inaugurated crypto currency as the prevailing currency, if all countries have inaugurated the cryptocurrency as the currency that is valid, of course people will use the currency Crypto as a legal and official payment instrument
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October 22, 2018, 04:04:51 AM
 #99

People cannot be forced to do anything in their cryptocurrency against their will. They will start using Bitcoin as a means of payment only if all the necessary conditions exist for this and it will be beneficial for them to do so.
Now there is not enough developed infrastructure to freely use Bitcoin as a means of payment, which is why it is so rarely used in this capacity. So far, most states have not decided on the legalization of Bitcoin and other cryptocurrencies, and without this the infrastructure for its use will not develop.

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October 22, 2018, 05:44:08 AM
 #100

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.
Bitcoin is using as currency all over the world with the passage of time it is spreading much more, although there are many countries where the Bitcoin is banned due to some reasons. Banks in Germany are now using the Bitcoin for they are to pay their loans with more benefited way that is why they are using Bitcoin as payment of loans. Due to its friction-less transaction facility with low cost make it our best choice.
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