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Author Topic: How can we get people to use bitcoin as a currency?  (Read 52917 times)
Averim
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April 19, 2020, 11:19:22 AM
 #1021

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.
One good solution is offering high quality products and services at a good bitcoin price, this way bitcoin or any other cryptographic coin gains popularity and, most important, utility in current social world.
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April 20, 2020, 05:53:40 AM
 #1022

I thing  in the future most of the world will use crypto currency but when the time comes.. you can see how the evrething evolved for 20years
No, the future will be no one to use bitcoin in payment widely. After 10 years of development, I am increasingly seeing the faces of the whales. they manipulate very strongly and have made a lot of people lose money. All the news is fake and no one seems to be intending to use bitcoin as a means of payment. And even you, do you want to keep 1 coin that is likely to lose more than 50% of its value in 1 day? If you answer this question, I think you will find out the general answer for everyone.

At the moment, I really don't see bitcoin being a currency in the future too. After reading a lot about bitcoin, history and its risk. I somehow fully understand why it has a risk that makes it really hard to accept as a widely used currency. Its a lot of thinking before even trying to exchange it. Technology is rising but there are still a lot of people who can't afford to be technologically advanced. It is easy to say that internet is already everywhere but there are still a lot of place who can't even reach a wifi access or signal.

And if a country is trying to use crypto as their currency, they needed to allocate development funds for the people who has a problem in using crypto. For example, education and financial literacy, development of a place that can't reach a signal. There's still a lot here in my third world country. We have a lot of problem to solve too, we are buried with debt and I don't think moving to crypto will be their concern in a few years.

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April 20, 2020, 11:33:31 AM
 #1023

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 said it by yourself - there aren't many stores who accepts bitcoin (or other crypto) out there.
And there aren't many handy tools to make transactions either.
Moreover, transaction fees are higher than for usd ones.
At this point bitcoin is really a thing to brag about and/or make profit.
It will take some time to make it possible to use daily, maybe it won't be bitcoin after all
kogozer714
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April 20, 2020, 12:48:53 PM
 #1024

think well, for now bitcoin is already in the real market but bitcoin doesn't have a license for some people yet if true bitcoin will be used as a fiat currency, it will not necessarily be accepted in the general public. for now bitcoin is still a source of instant income, especially those (BTC) that have really produced
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April 20, 2020, 06:50:23 PM
 #1025

Well if we want people to use bitcoin as currency firstly it should be recommended by the government only then half of the population will understand the concept because most of the people have faith in government so first of all government should create awareness among people second we will have to advertise bitcoin everywhere third we'll have to install bitcoin atms like in Nigeria and other places and the bitcoin should be more stable only then people will be attaracted towards crypto i guess
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April 21, 2020, 01:58:01 PM
 #1026

Well if we want people to use bitcoin as currency firstly it should be recommended by the government only then half of the population will understand the concept because most of the people have faith in government so first of all government should create awareness among people second we will have to advertise bitcoin everywhere third we'll have to install bitcoin atms like in Nigeria and other places and the bitcoin should be more stable only then people will be attaracted towards crypto i guess

Even if there is a recommendation from the government, how about its value which is volatile? In my opinion, anything should have stable value to be used as a real currency. It can be big problem when it is being used as real currency when the price drop significantly.
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April 21, 2020, 03:32:43 PM
 #1027

Well if we want people to use bitcoin as currency firstly it should be recommended by the government only then half of the population will understand the concept because most of the people have faith in government so first of all government should create awareness among people second we will have to advertise bitcoin everywhere third we'll have to install bitcoin atms like in Nigeria and other places and the bitcoin should be more stable only then people will be attaracted towards crypto i guess

Even if there is a recommendation from the government, how about its value which is volatile? In my opinion, anything should have stable value to be used as a real currency. It can be big problem when it is being used as real currency when the price drop significantly.
for now it is really not possible for Bitcoin to become a global currency, very volatile prices will create a real market confusion, and economic problems can also occur to the public, but it can be realized if bitcoin is very stable in price
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April 21, 2020, 06:02:33 PM
 #1028

Well if we want people to use bitcoin as currency firstly it should be recommended by the government only then half of the population will understand the concept because most of the people have faith in government so first of all government should create awareness among people second we will have to advertise bitcoin everywhere third we'll have to install bitcoin atms like in Nigeria and other places and the bitcoin should be more stable only then people will be attaracted towards crypto i guess

I don't think the government will recommend Bitcoin as they will lose control over their money as their having now so this will not happen and people might use both bitcoin and fiat currency where btc can be used as a store of value and for the international remittances and the stability only comes if more people come into the system until then it will be a ground for the whales if they like to
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April 21, 2020, 06:08:55 PM
 #1029

While there is a pandemic, i think it will be hard for us to get people to use bitcoin as a currency because most of them don't have a spare money for them to buy bitcoin or other cryptocurrencies due to lockdowns and they are temporarily don't have any jobs. But there might be few people who will have an interest in using cryptocurrency because they can earn money while they have a lot of free time at their homes.

Well, Bitcoin provides far better job opportunities than Fiat itself. It's easy enough to send Bitcoin across borders than it is with Fiat nowadays. The pioneer cryptocurrency is suitable for daily payments, despite its high prices. You don't necessarily need to buy a whole Bitcoin (1 BTC) to use it as a currency. Buying fractions of a coin, is all you need to get started using Bitcoin right away. It's even possible to get "free money" by using your own device to mine an altcoin. Then, you can simply exchange that altcoin into Bitcoin for peace of mind. The low fees, and faster transaction speeds than Fiat, makes Bitcoin convenient to anyone. With the Lightning Network, people will be able to use it as a currency more thoroughly.

Of course, not everyone will find Bitcoin as an attractive payment option for mainstream transactions. There will always be people who support Fiat above anything else. And that's probably because the same is stable in price and backed by the full faith and credit of the government. But those who are serious about privacy and censorship-resistance, will use Bitcoin above any other currency in the world today. As long as we do our part to introduce the benefits of Bitcoin to the world, people will come to it. Just my thoughts Grin

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April 21, 2020, 06:35:14 PM
 #1030

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 never going to use bitcoin as a currency in store for shop.bitcoin simply is mother of all coin and starter of blockchain technology in world.for buying stuff we should first) to every one believe in bitcoin and) blockchain first.even government .then we will see better and faster stable coins for shop.

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April 21, 2020, 07:52:39 PM
 #1031

Well if we want people to use bitcoin as currency firstly it should be recommended by the government only then half of the population will understand the concept because most of the people have faith in government so first of all government should create awareness among people second we will have to advertise bitcoin everywhere third we'll have to install bitcoin atms like in Nigeria and other places and the bitcoin should be more stable only then people will be attaracted towards crypto i guess

Even if there is a recommendation from the government, how about its value which is volatile? In my opinion, anything should have stable value to be used as a real currency. It can be big problem when it is being used as real currency when the price drop significantly.
for now it is really not possible for Bitcoin to become a global currency, very volatile prices will create a real market confusion, and economic problems can also occur to the public, but it can be realized if bitcoin is very stable in price
The unstable value is indeed a major factor and therefore, legalization in each country is at least different because even in some countries legalizing bitcoin and other crypto is only an investment asset and also a trade, so the real use or use of bitcoin as a currency It can't be realized as long as the value is unstable, and I think that's the only problem and not about the legality of bitocin itself, because I think most people have realized or know the existence of bitcoin.

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April 21, 2020, 10:35:57 PM
 #1032

People didn't recognized Bitcoin as a medium of exchange it is because a lot of people don't know what Bitcoin really is. The first thing that they didn't understand about Bitcoin is properties like the actual or physical properties of this currency, they didn't know that it works virtually. Volatility and other factors the affect Bitcoin stability are those reasons why people especially the government could not recognize this kind currency as a primary exchange.
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April 21, 2020, 11:31:09 PM
 #1033

Actually it is very easy to make bitcoin into real currency or many people use bitcoin as payment. By multiplying stores or merchants that
accept bitcoin payments. Especially if many offline stores accept payments with bitcoin automatically making many people use bitcoin as
real currency. But the problem is many countries whose governments have not legalized bitcoin as payment, the store or merchant does not
dare to accept payments with bitcoin.

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April 22, 2020, 08:05:47 AM
 #1034

How can we get people to use bitcoin as a currency?

Make it 100x times faster lol

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April 22, 2020, 08:49:52 AM
 #1035

People didn't recognized Bitcoin as a medium of exchange it is because a lot of people don't know what Bitcoin really is. The first thing that they didn't understand about Bitcoin is properties like the actual or physical properties of this currency, they didn't know that it works virtually. Volatility and other factors the affect Bitcoin stability are those reasons why people especially the government could not recognize this kind currency as a primary exchange.

In addition, there is a difficulty with paying with bitcoins and there is no technical ability to accept the payment. But everything may change after Binance and Visa jointly issue their debit card, which will allow you to pay with bitcoins anywhere in the world.
https://www.binance.com/en/blog/421499824684900479/Introducing-the-Binance-Card-Shop-and-Pay-With-Crypto-Anywhere-in-the-World

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April 22, 2020, 02:01:34 PM
 #1036

I think bitcoin will never be our exchange value in daily life because the price of bitcoin is volatile. That is why the government does not want to make its citizens suffer losses / fall into poverty, if you want to use bitcoin as a payment then there must be a fixed price for bitcoin (but that's not possible)

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April 22, 2020, 02:52:58 PM
 #1037

I think bitcoin will never be our exchange value in daily life because the price of bitcoin is volatile. That is why the government does not want to make its citizens suffer losses / fall into poverty, if you want to use bitcoin as a payment then there must be a fixed price for bitcoin (but that's not possible)

Although you could say that government doesn't want to use bitcoin but I think is not because of avoiding citizens to fall into poverty as a result of losses in bitcoin investment. I think volatility is one reason as you have also mentioned. The government also like to control the bitcoin which they can't, this is also a reason.
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April 22, 2020, 04:00:26 PM
 #1038

Bitcoin is becoming more and more popular for investment in the world of cryptocurrencies nowadays and people are getting drunk trying to get more and more and for which the demand for Bitcoin has increased a lotWhich is likely to increase further in the future and which may cause the price of coins to rise further in the near future

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April 22, 2020, 08:24:47 PM
 #1039

Using Bitcoin has become much easier over the years as there are a lot more projects solving this very problem. Methods such as accessible wallets, useful API's and open source projects (to name a few) are making using Bitcoin easier by allowing more businesses to create options for purchasing in Bitcoin and likewise making it easier for consumers.
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April 25, 2020, 09:53:55 PM
 #1040

Lets make people to use crypto for paying, for example, the electric bill or something similar, this is the easiest way.
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