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Author Topic: How can we get people to use bitcoin as a currency?  (Read 52917 times)
TheCoinGrabber
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April 17, 2019, 03:00:24 AM
 #721

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, 03:48:06 PM
 #722

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
 #723

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
 #724

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
 #725

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
 #726

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
 #727

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
 #728


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
 #729


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
 #730

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
 #731

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
 #732

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
 #733

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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April 20, 2019, 09:51:51 AM
 #734

We can start by giving them the right information. We have to guarantee them that cryptocurrency is not a scam, that there is legitimacy in it. We have to provide its advantages but also its downsides so that we will not be biased. However, we cannot please everyone. We cannot force them to use bitcoin as currency. They have their free wills so let them be. For us who are already into this, let's just keep on spreading news about bitcoin and crypto. One of these days, they might want to consider it and give it a try. Let's just go with the flow and keep our patience.

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April 20, 2019, 10:09:24 AM
 #735

People can gamble and use bitcoin as a means of payment but this applies to the people that knows and thinks that they can afford to lose with the amount they gamble.

Mostly here in the forum, bitcoin is the main currency that we use.



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Rainbot
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April 20, 2019, 10:29:48 AM
 #736



Mostly here in the forum, bitcoin is the main currency that we use.

I dont think so, because there were a lot of people around here whos hodling. Using it as a currency means using Bitcoin to pay for transactions like buying or paying for service. As what I have noticed, Bitcoin is more of an investment than a currency.


R


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LLBIT|
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April 20, 2019, 10:43:49 AM
 #737

Mostly here in the forum, bitcoin is the main currency that we use.

I dont think so, because there were a lot of people around here whos hodling. Using it as a currency means using Bitcoin to pay for transactions like buying or paying for service. As what I have noticed, Bitcoin is more of an investment than a currency.
What? you don't think so? you're in a bitcoin forum and you think that mostly holding?

yes, many are holding but you are even paid with btc with the signature you are wearing.



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April 20, 2019, 11:16:54 AM
 #738

Even now a lot of people think that Bitcoin is a currency of the dark markets and scammers. The mainstream media has improved its coverage of Bitcoin during the last few years, but even now you'll be able to find such articles once in a while. And secondly, in many of the territories, the governments have taken a very hostile view about Bitcoin. If these two issues can be resolved, then there will be a lot of progress in adoption.
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April 20, 2019, 04:46:03 PM
 #739

it is possible but it is hard without lightening network. Reasons:
small network size.
slow transaction speed
expensive transaction fees
high volatility.

turn the page
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April 21, 2019, 07:24:06 AM
 #740

The stores from a small one to big one like malls should implement bitcoin as an option for payment and that will do for making people curious and interested about bitcoin and if they are curious enough then they will probably get into bitcoin and discover more advantages of bitcoin and that is when they will start using it as a currency and also as a store of value for their fiat currencies.
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