Stability the shortest way to public adoptions.

[arpon11]

For bitcoin to be used as a store of value and a medium of exchanging for goods and services, It must be stable like others currencies.  For the past 5 to 7 weeks now bitcoin has started to develop that characteristics and that is a big sign that both online and offline retails and wholesales business will started to used it very soon.  I believe that in blockchain technology we are getting closer to what the founders has in mind.

[Wind_FURY]

For bitcoin to be used as a store of value and a medium of exchanging for goods and services, It must be stable like others currencies.

What stability? What "other" currencies? Fiat currencies? Fiat is the worst store of value.

This is the purchasing power of the U.S. Dollar from 1913 to 2013, and it is contantly sinking.



Give me Bitcoin, or give me death.

[davis196]

For bitcoin to be used as a store of value and a medium of exchanging for goods and services, It must be stable like others currencies.  For the past 5 to 7 weeks now bitcoin has started to develop that characteristics and that is a big sign that both online and offline retails and wholesales business will started to used it very soon.  I believe that in blockchain technology we are getting closer to what the founders has in mind.

Online retailers will adopt bitcoin only, if there is a huge army of people that use bitcoin on a daily basis.
The global amount of people,that use bitcoin is probably between 20 and 30 million,and most of them are HODLers.This is a very small number.The btc price stability doesn't matter that much.

[DaMut]

For bitcoin to be used as a store of value and a medium of exchanging for goods and services, It must be stable like others currencies.

What stability? What "other" currencies? Fiat currencies? Fiat is the worst store of value.

This is the purchasing power of the U.S. Dollar from 1913 to 2013, and it is contantly sinking.



Give me Bitcoin, or give me death.

i believe he was talking about other currencies aka fiat like USD,JPY,CNY and many more.
also, that 'thing' is much more stable compared to Bitcoin if we are looking at its history.
USD lost 96% its power in 2013 from 1913, but it needed 90 years to do that while Bitcoin only need a few months. that means USD is much more 'stable' compared to Bitcoin.

[iTradeBit]

Yeah, but the main feature of Bitcoin is volatility. How to reach stability?

[Pursuer]

for bitcoin to become (relatively) stable like other currencies it first has to be around at least half as long as they have been around so far and be adopted half as they are. we are not even at 1% adoption yet so we can not start expecting stability and we certainly can not compare this very young bitcoin with other currencies.

however, interesting thing is that so far the usage of bitcoin as a currency (based on user's spending behavior) has been at its peak when price is rising fast!

[BitHodler]

however, interesting thing is that so far the usage of bitcoin as a currency (based on user's spending behavior) has been at its peak when price is rising fast!

You are referring to on-chain transactions, right? Because people aren't actually spending their coins, they just move them back and forth mostly for speculative purposes only during pumps and dumps.

Bitcoin needs to scale properly in order to stimulate actual use as currency, which isn't the case right now. I'm actually a bit disappointed with how we haven't managed to scale more than we already have with SegWit.

It's however not Bitcoin that's to be blamed here, but the toxic entities representing the big block camp. They can't stand Bitcoin to be cheap, because that directly lowers the utility value of Bcash.

What else than low fees can Bcash market itself with?

[BrewMaster]

i don't know about "shortest way" to adoption but it is one way to do it. you are correct that stability will help with the currency aspect and store of value aspect but we still need actual adoption to happen. people need to see the benefits of using bitcoin instead of fiat so that they start spending bitcoin and merchants to start accepting it as payment. so i think the shortest way and the surest way is to increase awareness and educate people about these benefits.
stability means nothing when people don't know what decentralized, high security and privacy, no charge back, global, cheap (as in low fee),... mean.

[Pursuer]

however, interesting thing is that so far the usage of bitcoin as a currency (based on user's spending behavior) has been at its peak when price is rising fast!

You are referring to on-chain transactions, right? Because people aren't actually spending their coins, they just move them back and forth mostly for speculative purposes only during pumps and dumps.

no I am talking about actual usage when people purchase something from a merchant using bitcoin. and what I said is based on what I have read in the news from merchant statements claiming their sales have grown during the big fast rise of last year. and also based on Bitpay's annual statistical report showing an increase in number of payments they processes during those times.

[Kemarit]

however, interesting thing is that so far the usage of bitcoin as a currency (based on user's spending behavior) has been at its peak when price is rising fast!

But isn't it should be the opposite though? People should spend bitcoin when its quite cheap or relatively stable just like we witnessing in the last several month. Ah, the human behaviour, really hard to predict as well. But yeah, its too early to say when the market is barely in a decade and we didn't even have a sample size to say that usage of bitcoin as a currency is picking up or not.

What else than low fees can Bcash market itself with?

Big block? LOL. Seriously, There's nothing that BCash can offer than can leverage people to shift on other coins. Bitcoin is enough to be used as currency if LN could be implement and people see's the advantage of it. Now, those arguments about its high cost and slow confirmation should be thrown out of the window when the Segwit + LN rolling out in the next couple of years.

Funny how the OP mentioned it because I'm been playing this idea for a long time that people should take advantage of bitcoin today because of its price stability to buy some stuff online or even make it as mode of payment. Been doing this for 1 year already (paying my utilities like internet, water and electric, even paying my credit card bills and buy some online stuff).

[solarion]

For bitcoin to be used as a store of value and a medium of exchanging for goods and services, It must be stable like others currencies.  For the past 5 to 7 weeks now bitcoin has started to develop that characteristics and that is a big sign that both online and offline retails and wholesales business will started to used it very soon.  I believe that in blockchain technology we are getting closer to what the founders has in mind.

In Japan many companies are adopt the Bitcoin so most of the employers wages are Bitcoin and most of the shopping mall also accepting the Bitcoin so slowly it will improve the crypto improvement. I think day by day crypto technology is increase the positive reputation so all the peoples are using Bitcoin in 2025 or other cryptocurrencies are occupy the entire world.

[darewaller]

For bitcoin to be used as a store of value and a medium of exchanging for goods and services, It must be stable like others currencies.  For the past 5 to 7 weeks now bitcoin has started to develop that characteristics and that is a big sign that both online and offline retails and wholesales business will started to used it very soon.  I believe that in blockchain technology we are getting closer to what the founders has in mind.

You are talking about "stability" like it is something we always had and will always have.
Bitcoin is stable for now but there are couple weeks every year (even the most stable year in 2018 had some insane jumps time to time) and the price increases and decreases insanely.

I agree it has been stable most of the time instead of volatile but it doesn't mean it will stay like that. This is not a stablecoin like tether or something this is bitcoin we are talking about. The price will never be too stable and will change to insane levels either upside or downside and than become stable once again.

Considering this people who check out bitcoin will realize that even tho the price has been stable for now historically it has not been like that and will not want to danger their investments to something this volatile.

[batang_bitcoin]

It doesn't have to be like that just for those retail businesses to adopt bitcoin as a medium of exchange.

In fact, that even those old days there are companies that really don't look at the stableness of bitcoin because its character isn't really like that. Just because we've been stagnant for 5-7 weeks you are going to think that bitcoin is as stable as you think. I think that's not enough for it to say. Earlier years bitcoin is already a medium of exchange and that's its main purpose.

[WinslowIII]

For bitcoin to be used as a store of value and a medium of exchanging for goods and services, It must be stable like others currencies.

What stability? What "other" currencies? Fiat currencies? Fiat is the worst store of value.

This is the purchasing power of the U.S. Dollar from 1913 to 2013, and it is contantly sinking.



Give me Bitcoin, or give me death.

Since December 2017, fiat has shown to be a hell of a store of value compared to crypto. In fact, I'm sure this crash has absolutely ruined many economically who decided to use bitcoin as a store of value over the last 10 months.
A question I have is over time if bitcoin doesn't increase in value, what is the point of using it as a store of value? Bank accounts are paying about 2% interest these days, bitcoin pays nothing. As far as using bitcoin as an exchange for goods and services, unless it is a high priced item bitcoin fees make this option totally unfeasible. Maybe the lighting network will fix this, but currently this is simply not a use case.

[buyinbtc]

For bitcoin to be used as a store of value and a medium of exchanging for goods and services, It must be stable like others currencies.  For the past 5 to 7 weeks now bitcoin has started to develop that characteristics and that is a big sign that both online and offline retails and wholesales business will started to used it very soon.  I believe that in blockchain technology we are getting closer to what the founders has in mind.

The fact that it has been stable for the past seven weeks or so doesn't mean that it all of the sudden became a stable currency that will now be adopted all over the world and start to be used by everyone. Look at the history of the price, after every big pump there's a massive dump and a period of really boring and stable price. We are in that period now, after this sooner or later there is going to be a new pump and bitcoin will be volatile as hell again

[exstasie]

For bitcoin to be used as a store of value and a medium of exchanging for goods and services, It must be stable like others currencies.

I don't think most adoption comes from the currency use case. Becoming a medium of exchange comes after mass adoption, by virtue of the fact that everyone uses and accepts it.

The bubble cycles seem pretty good at encouraging adoption. It's these price cycles that give Bitcoin is exponential price curve, which makes it a pretty attractive investment. As long as the long term trend remains intact, people will continue accumulating (adopting) it.

[Semaj123]

For bitcoin to be used as a store of value and a medium of exchanging for goods and services, It must be stable like others currencies.  For the past 5 to 7 weeks now bitcoin has started to develop that characteristics and that is a big sign that both online and offline retails and wholesales business will started to used it very soon.  I believe that in blockchain technology we are getting closer to what the founders has in mind.

This is definitely the effect of some corrections as what we heard which cause it to be somehow stable for past month and up until now. Still the character of being volatile still there and probably waiting to make some surprises. In terms of adoption, well we already saw it from other countries and slowly been observed by some nations.

[figmentofmyass]

Bitcoin needs to scale properly in order to stimulate actual use as currency, which isn't the case right now. I'm actually a bit disappointed with how we haven't managed to scale more than we already have with SegWit.

taken alone, segwit was never really a scaling solution. it was just a one-time linear block size increase. it doesn't address bitcoin's lack of exponential scalability. we need other protocols that don't scale linearly. lightning, tree chains, sharding, etc

i think slow adoption is good. it exemplifies the voluntary (ie backward compatible) nature of bitcoin upgrades. in contrast, miner-backed hard forks where 100% of users must upgrade are economically coercive.

It's however not Bitcoin that's to be blamed here, but the toxic entities representing the big block camp. They can't stand Bitcoin to be cheap, because that directly lowers the utility value of Bcash.

bitcoin seems pretty cheap to me.

[yndye]

For bitcoin to be used as a store of value and a medium of exchanging for goods and services, It must be stable like others currencies.  For the past 5 to 7 weeks now bitcoin has started to develop that characteristics and that is a big sign that both online and offline retails and wholesales business will started to used it very soon.  I believe that in blockchain technology we are getting closer to what the founders has in mind.

It's been a decade now that Satoshi has envision bitcoin to be use as a currency without the need of third parties and I think we are slowly experiencing the adoption. If we look around, there are already many businesses that adopt cryptocurrency as one of their payment option and in due time, more businesses especially those giant ones in the e-commerce, would consider adopting it because they can still benefit from it as there are people who will prefer to use cryptocurrency instead of credit card or cash perhaps.

[Wind_FURY]

For bitcoin to be used as a store of value and a medium of exchanging for goods and services, It must be stable like others currencies.

What stability? What "other" currencies? Fiat currencies? Fiat is the worst store of value.

This is the purchasing power of the U.S. Dollar from 1913 to 2013, and it is contantly sinking.



Give me Bitcoin, or give me death.

i believe he was talking about other currencies aka fiat like USD,JPY,CNY and many more.
also, that 'thing' is much more stable compared to Bitcoin if we are looking at its history.
USD lost 96% its power in 2013 from 1913, but it needed 90 years to do that while Bitcoin only need a few months. that means USD is much more 'stable' compared to Bitcoin.

I am sorry. If you did not understand the context in the U.S. Dollar and other fiat currencies' distressing, long term scenario, then no can help you.