Acceptance of bitcoin as payment!

[TheDangerousBoy]

I think most people are used bitcoin as investments than payment because bitcoin is not accepted in most global transaction and there is a lot of regulation that make bitcoin hard to use as payment

[bitzizzix]

With the price of bitcoin fluctuating, currently in my opinion bitcoin is not the right time to be used as a payment method for transaction tools, because the price of goods being promoted can change or be unstable because it will adjust the price of bitcoin.
and I think many online or offline stores find it difficult to provide a fixed price for now.

[Anyobsss]

I have not read bitcoin's whitepaper but from the little understanding I have I think bitcoin was developed to be use as a mode of payment for goods and services? It was for a transactionary purposes and not as the way we are using it now as a way of making profits by buy them and hold or sell Them whenever we think it has appreciated in pricing!
I believe for bitcoin to grow it purposes must be well explain to the populace as they are the one that needs it in transactions and that is why the more people that know about it an it primarily uses of p2p the better bitcoin become.  We must promote it with the aim of bringing more people especially business people to start adopting bitcoin for they business.  Bitcoin should also be stable in pricing because it will be very difficult for retailers and wholesalers business to use it if it is unstable.
Finally I will like to get your opinion on this as this will help the mind of many of us here about this great technologies.

I think the reason why bitcoin can't be the standard mode of payment is it is too volatile. If we want to use it as a payment it has too be stable and that it is the difficult part, we don't have any control on it.

[nero_monney]

It seems to me that the faster large companies start using Bitcoin as a payment method, the better it will be for all of us. In fact, many companies, if they still do not accept Bitcoin as a payment method, then at least go in this direction.

[kamilah147]

At this current day we can see big development in the acceptance of bitcoin especially in the field of businesses simply because some companies, store and mall start to accept it as a mode of payment. Maybe in the coming future all of us bitcoin to pay all our bills.

indeed along with the times and fiat currency technology will change but the provisions remain in the hands of the government that regulates it

[STT]

when it comes to bitcoin you need to first have a bank account, send your dollars to your bank, from bank to say coinbase than from coinbase you change it to bitcoin than you send that bitcoin to someone else, all combine costs a lot.

No thats not a requirement, I can send you Bitcoin right now and you can receive it in your own private wallet just fine and no real cost barrier.    All these websites are not bitcoin, they are 3rd party handlers and mostly centralised a weakness to the system.    Convenience is the reason why people take this route but its not an actual requirement.

I could send you bitcoin but why would I, we have to have to gain a reason to trade and that is possible for us to do without vast paperwork and hitches along the way.   I'd agree there isnt enough of that and too much of the website stuff

[miningguru]

I think most people are used bitcoin as investments than payment because bitcoin is not accepted in most global transaction and there is a lot of regulation that make bitcoin hard to use as payment

Exactly, there are many people investing Bitcoin and treating it as an investment because many countries still not accepted Bitcoin as a payment option. Until it is accepted it is better to hold and start trading Bitcoin in the market until Bitcoin is accepted as one of the payment options.

[jhongzjhong]

I think most people are used bitcoin as investments than payment because bitcoin is not accepted in most global transaction and there is a lot of regulation that make bitcoin hard to use as payment

Exactly, there are many people investing Bitcoin and treating it as an investment because many countries still not accepted Bitcoin as a payment option. Until it is accepted it is better to hold and start trading Bitcoin in the market until Bitcoin is accepted as one of the payment options.

But it must be used bitcoin in the payment system to circulate the price and it takes more transactions that also contribute to gain profit on miners. However, this is now the instinct of people that they might keep their bitcoin and consider as an investment because they can earn more profit when the price goes up. I also believed that the more holders make the supply less, more demand and less supply that makes bitcoin expensive price.

[BitcoinTurk]

Bitcoin is considered as a method of payment in some businesses, although it is not very common nowadays. Although popular companies around the world are not currently using this method of payment, I know that some mid-range businesses and many small businesses receive payment by this method of payment. I think that the main reason why big companies do not prefer this payment method is price change and speculation. Companies may experience accounting and financial difficulties due to continuously changing prices throughout the year. In the coming years, if the volatility in the price changes decreases and the price becomes more stable, it will certainly start to accept Bitcoin as a method of payment. Even if this technology is spreading faster than we expect, we can see that payment is accepted with other cryptocurrencies.

[Naida_BR]

The other day I read on reddit that some dude was capable of sending and receiving money with %1.5 total to his friend in another state of usa (he was also in usa state) but it cost him 3.5% total on commissions to get bitcoin and send him money.

We all love to talk about how cheap the adoption should be and how people are getting ripped off by master and visa cards and so forth but we forget one eternal truth, financial world is greedy and even tiny 0.1% of something that brings in billions of dollars is big.

If you have 5 dollars and want to send it to your friend you can do it without bitcoin quite cheaply right now, it costs a bit but nothing major, same goes for anything like 100 dollars or so. It is a challenge when its worldwide tough, so from one country to another its a deal breaker. Nevertheless, when it comes to bitcoin you need to first have a bank account, send your dollars to your bank, from bank to say coinbase than from coinbase you change it to bitcoin than you send that bitcoin to someone else, all combine costs a lot.

In your thinking you are right, but you are adding one more step when you describe the transaction that it made with bitcoins. And this is the conversion to fiat which makes it more expensive in your example.
With mass adoption you will not have the need to convert your crypto to any fiat because you can send-receive bitcoin instantly.

You also describe a transaction into the US federation. Have you considered the cost of transferring USD to AUSD and the costs for converting from the one to the other currency?

[Coyster]

I think most people are used bitcoin as investments than payment because bitcoin is not accepted in most global transaction and there is a lot of regulation that make bitcoin hard to use as payment

Apart from lack of acceptance, volatility and scalability are the biggest and boldest hinderance right now, we all want mass adoptions, means of purchasing, profits etc
But right now due to its volatility, profit through buying and holding looks the most feasible, it's no ones fault really.
If the bitcoin could be stable and carry out more transactions speedily then adoption would be easily integrated

[Cherylstar86]

Bitcoin is considered as a method of payment in some businesses, although it is not very common nowadays. Although popular companies around the world are not currently using this method of payment, I know that some mid-range businesses and many small businesses receive payment by this method of payment. I think that the main reason why big companies do not prefer this payment method is price change and speculation. Companies may experience accounting and financial difficulties due to continuously changing prices throughout the year. In the coming years, if the volatility in the price changes decreases and the price becomes more stable, it will certainly start to accept Bitcoin as a method of payment. Even if this technology is spreading faster than we expect, we can see that payment is accepted with other cryptocurrencies.

Exactly! Bitcoin has different functionalities and serves with a unique purpose. Many counties in the world have already started to legalize bitcoin payments. It allows payments to be done internationally without having to worry of any conversions and aside from that its transaction fees are very low compared to credit and debit card purchases. It provides ease of transaction, no taxes on purchases, and lower risks for buyers. It may not be widely-adopted for now but I believe that in the long run more people will become fully-aware and educated of how beneficial Bitcoin is, realize its real value despite volatility, and regulations of Bitcoin in most of the countries will come into place.

[buwaytress]

Not sure why you haven't read the whitepaper. Even the abstract on page 1 is enough to tell you what it's all about, though your little understanding seems to be a lot closer to home than what most people know.

For me it's really as simple as it sounds. For Bitcoin to enjoy even more success (yeah I actually think it's already a success even though I still see it as an ongoing economic and social experiment), it's down to us to accept it and use it. Not only by accepting it as payment, which is easy enough, but to also want to use it to spend and pay. Make your desire to use Bitcoin to pay known and it's more likely to be accepted by others.

[iMark]

With the price of bitcoin fluctuating, currently in my opinion bitcoin is not the right time to be used as a payment method for transaction tools, because the price of goods being promoted can change or be unstable because it will adjust the price of bitcoin.
and I think many online or offline stores find it difficult to provide a fixed price for now.

this problem has been around since the beginning of the year of bitcoin, and is very stale to talk about this problem right now,
many people have suggested that it doesn't matter when a new platform appears, all we need is acceptance from many stores

[syamster]

With the price of bitcoin fluctuating, currently in my opinion bitcoin is not the right time to be used as a payment method for transaction tools, because the price of goods being promoted can change or be unstable because it will adjust the price of bitcoin.
and I think many online or offline stores find it difficult to provide a fixed price for now.

this problem has been around since the beginning of the year of bitcoin, and is very stale to talk about this problem right now,
many people have suggested that it doesn't matter when a new platform appears, all we need is acceptance from many stores

It is problem but now it is solved in several places as people are adopting this system of payment, I know when something new comes to the market it takes time for people to adopt it and to accept it, but gradually and with passage of time things get better, so in my city number of stores have crypto payment services.

[southafricadude]

I have not read bitcoin's whitepaper but from the little understanding I have I think bitcoin was developed to be use as a mode of payment for goods and services? It was for a transactionary purposes and not as the way we are using it now as a way of making profits by buy them and hold or sell Them whenever we think it has appreciated in pricing!
I believe for bitcoin to grow it purposes must be well explain to the populace as they are the one that needs it in transactions and that is why the more people that know about it an it primarily uses of p2p the better bitcoin become.  We must promote it with the aim of bringing more people especially business people to start adopting bitcoin for they business.  Bitcoin should also be stable in pricing because it will be very difficult for retailers and wholesalers business to use it if it is unstable.
Finally I will like to get your opinion on this as this will help the mind of many of us here about this great technologies.

Something can only be used as a mode of payment, if it has value. Nobody will let you pay in something if it is worth nothing...they want to exchange goods or services for something that has value.
Gold is something that had value, and that is why it is used as money. It too also has people trading it and making profits on the pricing.
The bitcoin price has become much more stable over the years, and will get more stable as time goes on, and it becomes more wide spread.

[Upgrade00]

The bitcoin price has become much more stable over the years, and will get more stable as time goes on, and it becomes more wide spread.

I am of the opinion that accepting Bitcoin as a payment option would facilitate it's price stability, and not the other way around. Yes, it has become more stable, but is still has speculative value and would remain volatile until it is pegged to real products and services.

[Sum24]

nowadays there are many bitcoin users who benefit, in addition to providing bitcoin benefits it can also be used for easy payment by its users. Because it's easy to pay with bitcoin is very acceptable to the public.

it is an advantage that is obtained by using crypto currencies and maybe crypto currencies are created to keep up with the development of the economy by using the development of time and technology

Yes  it is mode for our own benefits and it is able to give us good result as currency and as investment too, bitcoin is best technology which is like great it made our life easy and it will give our country new time of development, it is good for long term holding so that it will increase in price which gives profit.

[Lumi3004]

Indeed, Bitcoin should be used as a payment method, if viewed from all-tech developments it makes everyone not have to bring cash in transactions on the market, this is quite beneficial for all parties if done.
What else is there now a lot of criminals, robberies, etc. with the passage of the method of the pre-paid bitcoin system is safe enough for everyone on the trip or trading.

[joshy23]

nowadays there are many bitcoin users who benefit, in addition to providing bitcoin benefits it can also be used for easy payment by its users. Because it's easy to pay with bitcoin is very acceptable to the public.

it is an advantage that is obtained by using crypto currencies and maybe crypto currencies are created to keep up with the development of the economy by using the development of time and technology

Yes  it is mode for our own benefits and it is able to give us good result as currency and as investment too, bitcoin is best technology which is like great it made our life easy and it will give our country new time of development, it is good for long term holding so that it will increase in price which gives profit.

It should be used as a currency and not alone as an investment assets, this system can help the industry if being implemented and adopted everywhere, transactions can easily be done and every people around the world will benefits, it's a convenient way for such alternatives with bringing physical fiats or using cards, if bitcoin will be adopted it will bring new type of payment process,.