People are underutilizing Bitcoin

[gwestcot]

fiat is definitely doomed to fail so we will need something to replace it. I just don't think it is going to be Bitcoin by the looks of it.

fiat or bitcoin have their respective values, maybe fiat can be replaced because the payment methods are quite old-fashioned and in an era like now that digital currencies are being introduced to the public, but I'm not entirely sure that FIAT will be lost unless the technology in the world has been used as the main commodity

No it is literally mathematically doomed to fail... now with there be another incarnation of it? that might be but I highly doubt it. I also doubt that crypto in its current form is anywhere even close to useful on that scale and for that purpose. It makes the future awfully uncertain. 

[OrangeII]

fiat is definitely doomed to fail so we will need something to replace it. I just don't think it is going to be Bitcoin by the looks of it.

fiat or bitcoin have their respective values, maybe fiat can be replaced because the payment methods are quite old-fashioned and in an era like now that digital currencies are being introduced to the public, but I'm not entirely sure that FIAT will be lost unless the technology in the world has been used as the main commodity

I have read several articles about countries or governments that have begun to develop Fiat in the form of cryptocurrency so that Fiat will not fade. however, if Fiat is truly lost due to age, I am also not so sure that bitcoin will be its replacement. it's not because bitcoin is underutilized, but because people now see bitcoin as an investment tool, not as a fast exchange tool. for example, next year there will be halving, people are busy predicting the price of bitcoin and besides that, they also collect it to exchange when the price has risen.
but, I really hope for good development from bitcoin.

[X-ray]

Stable coins can come. Blockchain is a more accurate system for stable coins. But will Bitcoin disappear if these situations occur? I do not think so. Bitcoin is the advertising face of this market. I think Bitcoin will always be

Basically stable coins come in handy and in second to bitcoin only for investors and hodlers in the market. They use stable coins to save funds but not literally aims to take the spot of bitcoin. After the huge market correction, people will still go back to bitcoin and invest all of their funds from their stable coins. The main thing that I can see only how people are underutilizing bitcoin is through using bitcoin in illegal activities and also, when they sell it in price lower than the price when they bought it.

But the reality people are converting their stablecoin to Bitcoin only when they want to seek for profit and not really into bitcoin. You can see some advertisement here and there saying make profit with bitcoin while bitcoin was initially created for the sole reason of replacing that outdated paper money as well as eliminating middle men and being a trustless technology. The fact that so many people out there just consider bitcoin as a way to profit is undeniable although that could bring some huge market capitalisation but it's just underutilizing bitcoin at its best.

[sovie]

There are not many merchants globally that are accepting crypto as payment option. Moreover, use of crypto is also ban in many countries (for example China) and in such areas people are HODLing Bitcoin just from investment point of view as they dont have any option to use it. I guess as acceptance for bitcoin will increase we will see more transactions of crypto.

[Eugenar]

There are not many merchants globally that are accepting crypto as payment option. Moreover, use of crypto is also ban in many countries (for example China) and in such areas people are HODLing Bitcoin just from investment point of view as they dont have any option to use it. I guess as acceptance for bitcoin will increase we will see more transactions of crypto.

Basically the term underutilizing bitcoin could be the primary reason why these countries mainly ban these cryptocurrencies. Let say, if the citizens aren't using bitcoin responsibly, such as always gambling, buying illegal items, (In which I highly consider as underutilization of bitcoin or using it in a negative way) it could lead to the government taking actions to prevent further harm to their people and especially to their monetary system or in their economy. To avoid these, we should start to be responsible for our selves first and apply good principles that we could share so others could be responsible as well.

[drachman]

There are not many merchants globally that are accepting crypto as payment option. Moreover, use of crypto is also ban in many countries (for example China) and in such areas people are HODLing Bitcoin just from investment point of view as they dont have any option to use it. I guess as acceptance for bitcoin will increase we will see more transactions of crypto.

Basically the term underutilizing bitcoin could be the primary reason why these countries mainly ban these cryptocurrencies. Let say, if the citizens aren't using bitcoin responsibly, such as always gambling, buying illegal items, (In which I highly consider as underutilization of bitcoin or using it in a negative way) it could lead to the government taking actions to prevent further harm to their people and especially to their monetary system or in their economy. To avoid these, we should start to be responsible for our selves first and apply good principles that we could share so others could be responsible as well.

Any form of money is just a tool, trying to blame the tool for what people are doing with it is senseless and governments know that, but they do not mind that because they can use that as an excuse to try to regulate bitcoin but unfortunately for them it doesn't matter what they do bitcoin is never going to bend to their rules and eventually they are going to need to accept it as a legitimate form of currency, it is understandable that some people are mad that more people are not using bitcoin as a currency and are just speculating with it but it makes complete sense, the best use for bitcoin right now is as a speculative asset and that is also one of the functions of currencies.

[sehoon]

Because most of the people see bitcoin as something related to stocks. They don't focus on the purpose of it and the technology behind it. And I think it sucks because bitcoin is more than an investment that you can hold on for years and wait for it to grow while you are dreaming of a big house. May the government allow it to be used on things such as payments.

[TimtheYoutuber]

Because most of the people see bitcoin as something related to stocks. They don't focus on the purpose of it and the technology behind it. And I think it sucks because bitcoin is more than an investment that you can hold on for years and wait for it to grow while you are dreaming of a big house. May the government allow it to be used on things such as payments.

This is certainly a problem in the cryptocurrency market that a lot of people over look, or just don't want to admit.

[FlightyPouch]

Because most of the people see bitcoin as something related to stocks. They don't focus on the purpose of it and the technology behind it. And I think it sucks because bitcoin is more than an investment that you can hold on for years and wait for it to grow while you are dreaming of a big house. May the government allow it to be used on things such as payments.

We can just use exchanges if they are not in favor of it. Government do not like these things to start with and even if they accepted it, it will also based on the people if they want to use it. In our country, crypto currencies are not actually banned but here in our place, I don't see anyone using it so exchanges is my partner here.

[TimtheYoutuber]

Because most of the people see bitcoin as something related to stocks. They don't focus on the purpose of it and the technology behind it. And I think it sucks because bitcoin is more than an investment that you can hold on for years and wait for it to grow while you are dreaming of a big house. May the government allow it to be used on things such as payments.

We can just use exchanges if they are not in favor of it. Government do not like these things to start with and even if they accepted it, it will also based on the people if they want to use it. In our country, crypto currencies are not actually banned but here in our place, I don't see anyone using it so exchanges is my partner here.

I am not sure what you are saying here.

[Asuspawer09]

Full article: https://www.forrestvisions.com/blog/people-are-underutilizing-bitcoin

People need to start accepting Bitcoin and keeping it, not converting it.

If you think of Bitcoin as just a virtual placeholder for fiat currency, stable coins will be the future and Bitcoin will slowly fade away.


Thoughts?

I think bitcoin in this days are meant to be converted since the bitcoin was not yet used or completely use in a lot of countries in the world, we also know that there are only a small number of popular companies that completely uses bitcoin as an asset or even as a method of payment to transact. Since a lot of countries are using a fiat money as their number one currency I think it was just normal to convert our bitcoin into cash because it was the best way to use bitcoin as money we cannot fully use bitcoin or mark a profit in investing in bitcoin but I think using this method bitcoin could fulfill both digital currency and an investment for the cryptocurrency community.

[bitzizzix]

Actually it all depends on those who use it and their right to use bitcoin on their own terms because it belongs to them, and what is the point of bitcoin being called an alternative payment if they are not used as an alternative payment or convert it into fiat currency to be used as any payment.
and I will personally do the same thing and only use it if necessary and only as needed because I prioritize savings because I am sure in the future bitcoin will be much better and more profitable.

[ChrisPop]

Personally I think of Bitcoin like at as an store-of-value and not a currency.  The scarce characteristic of Bitcoin and its functionalities make it a good solution for wealth preservation and once the market matures I'm sure it will be highly utilised as a method of payments as well. Now the volatility is too high for merchants and businesses to accept direct payments, unless they are looking to keep it for future appreciation.

Regarding stable coins we don't have any stable currency that I would use. I don't want crypto backed by garbage fiat currencies like dollars, yen, etc.

[jhontwis]

Personally I think of Bitcoin like at as an store-of-value and not a currency.  The scarce characteristic of Bitcoin and its functionalities make it a good solution for wealth preservation and once the market matures I'm sure it will be highly utilised as a method of payments as well. Now the volatility is too high for merchants and businesses to accept direct payments, unless they are looking to keep it for future appreciation.

Regarding stable coins we don't have any stable currency that I would use. I don't want crypto backed by garbage fiat currencies like dollars, yen, etc.

I agree with some of this. Bitcoin now only needs to be on its own. There should be no dollar or euro. Those who trade with Bitcoin should not convert their bticoins into dollars. I don't think Bitcoin will disappear. There are many reasons to use Bitcoin.

[btcmurat]

Bitcoin is a very risky money. Bitcoin price is constantly moving. $ 1000-wide movements are happening very quickly. How to trust such a vibrant market. People are afraid to use bitcoin. The market needs to become more stable.

[TimtheYoutuber]

Bitcoin is a very risky money. Bitcoin price is constantly moving. $ 1000-wide movements are happening very quickly. How to trust such a vibrant market. People are afraid to use bitcoin. The market needs to become more stable.

If people are waiting for the price to not move, then what is the advantage over a stablecoin? If you are worried about the pegged USD value of a bitcoin, then what is the real difference?

[Lauren Smith]

Because most people see noy the profit potential of bitcoin and are here only for the money using bitcoin as an investment tool instead of a currency which it is. I wonder if this kind of people has ever made a bitcoin purchase? Will they just keep buying bitcoin selling and rinse repeat and never actually use it? This is what many users here do and I think it is a problem.

[Argoo]

Full article: https://www.forrestvisions.com/blog/people-are-underutilizing-bitcoin

People need to start accepting Bitcoin and keeping it, not converting it.

If you think of Bitcoin as just a virtual placeholder for fiat currency, stable coins will be the future and Bitcoin will slowly fade away.


Thoughts?

Bitcoin has not become a universally accepted means of payment in the world. During these ten years, it was generally used as a speculative means for profit. However, this is not the main and especially not the only function of bitcoin. Now, like all decentralized cryptocurrencies, he will have to compete with stable state coins and I’m not sure that Bitcoin can withstand such competition.

[TimtheYoutuber]

Full article: https://www.forrestvisions.com/blog/people-are-underutilizing-bitcoin

People need to start accepting Bitcoin and keeping it, not converting it.

If you think of Bitcoin as just a virtual placeholder for fiat currency, stable coins will be the future and Bitcoin will slowly fade away.


Thoughts?

Bitcoin has not become a universally accepted means of payment in the world. During these ten years, it was generally used as a speculative means for profit. However, this is not the main and especially not the only function of bitcoin. Now, like all decentralized cryptocurrencies, he will have to compete with stable state coins and I’m not sure that Bitcoin can withstand such competition.

Competition is always nice because it gives people options. If bitcoin can be accepted for its properties then It can succeed, however if people only look at it for the pegged fiat then it will have some trouble.

[keeee]

Full article: https://www.forrestvisions.com/blog/people-are-underutilizing-bitcoin

People need to start accepting Bitcoin and keeping it, not converting it.

If you think of Bitcoin as just a virtual placeholder for fiat currency, stable coins will be the future and Bitcoin will slowly fade away.


Thoughts?

Bitcoin has not become a universally accepted means of payment in the world. During these ten years, it was generally used as a speculative means for profit. However, this is not the main and especially not the only function of bitcoin. Now, like all decentralized cryptocurrencies, he will have to compete with stable state coins and I’m not sure that Bitcoin can withstand such competition.

Competition is always nice because it gives people options. If bitcoin can be accepted for its properties then It can succeed, however if people only look at it for the pegged fiat then it will have some trouble.

We cant deny that fact that bitcoin sometimes are being underutilized because of its limitation.  Bitcoin was not that fully accepted as a currency compare to fiat which you can used in your daily living but what good to it was it gives profit to us.  Bitcoin has also big benefits that can help you financially it has also advantages like what is written in the article.