People are underutilizing Bitcoin

[Savemore]

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?

But the problem is with the utility. People are ready to spend their Bitcoin without converting it to Fiat. But where are the options? There aren't much merchants or vendors ready to accept btc as payment. Even if they do, they will most probably convert it to fiat. The high volatility it comes with is not sound for any stable business. These are the underlying issue because of which btc is more of an investment asset which can be converted to fiat for any use. It hasn't evolved as a currency yet.

There are people that are now willing to use bitcoin and the problem is the business that are still not ready to accept bitcoin. There will no mass adoption that will happen if those merchants are still focusing to use traditional payment system than the current payment system. Our economy will boost more if we will use cryptocurrencies, there are also a lot of advantages that they can get from accepting bitcoin and using it. There are just not aware so it is the reason why for them fiat is still the best way to use.

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[TimtheYoutuber]

I think something's value increases when it comes to circulation, so instead of keeping Bitcoin, it needs to be more exchanged or transacted at specific retailer counters. Once this occurs, more and more people will begin to use Bitcoin, resulting in high demand, and anything can increase when there is increased demand value. Bitcoin is a good choice to retain as an asset, but it really needs a high circulation.

Its high speculative aspect of it is actually damaging. People are less likely to use it because of fluctuations.

[Polar91]

There are people that are now willing to use bitcoin and the problem is the business that are still not ready to accept bitcoin. There will no mass adoption that will happen if those merchants are still focusing to use traditional payment system than the current payment system. Our economy will boost more if we will use cryptocurrencies, there are also a lot of advantages that they can get from accepting bitcoin and using it. There are just not aware so it is the reason why for them fiat is still the best way to use.

For now, the use of bitcoin are still remaining to be personal because of the lack of regulations and laws concerning it to be accepted widely by the masses and the large scale typical business on different countries. Because we can confirm it if they start to provide salaries in bitcoin and it is quite hard to implement if they will provide salaries without tax and literally, there's allot to adjust first for it to be implemented. I do really believe it will just take so long but in the future it possibly could really happen.

[Maotezi]

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?

But the problem is with the utility. People are ready to spend their Bitcoin without converting it to Fiat. But where are the options? There aren't much merchants or vendors ready to accept btc as payment. Even if they do, they will most probably convert it to fiat. The high volatility it comes with is not sound for any stable business. These are the underlying issue because of which btc is more of an investment asset which can be converted to fiat for any use. It hasn't evolved as a currency yet.

Any company planning a stable wholesale business must deal with money that has the least inflation and deflation, because if it is bought at a higher price and sold at a lower price, there is no profitable business there, I agree, but I think bitcoin is built as currencies , not completely.
The problem is the price fluctuation, the company is not sure when it has bitcoin, so it converts it to Fiat, it would be different if bct is more stable.

[CarnagexD]

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?

Well the main reason for this happening is because of how profitable bitcoin has become. People don't see bitcoin as a cryptocurrency or even as a placeholder for fiat, they see it as another get rich scheme that they can abuse to earn free bucks. Which is of course not what bitcoin is intended to be used for. Sadly, until this negativity is removed from the system I doubt bitcoin will get to what it was supposed to be.

[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?

Well the main reason for this happening is because of how profitable bitcoin has become. People don't see bitcoin as a cryptocurrency or even as a placeholder for fiat, they see it as another get rich scheme that they can abuse to earn free bucks. Which is of course not what bitcoin is intended to be used for. Sadly, until this negativity is removed from the system I doubt bitcoin will get to what it was supposed to be.

This is exactly my thoughts. This is why "stable" currencies have proved to be a better option for people looking to transfer money.

[TimtheYoutuber]

Bitcoin is considered an investment tool. However, it is very good to use as a means of payment. I made some trades with bitcoin. This offers a quick solution. I think it would be the right choice for new operators to get paid with cryptocurrency.

This whole thread talks about how using Bitcoin has an "investment tool" actually hurts the economy.

[Wipeout2097]

Its not possible till the BITCOIN completely mined,Whole history and real stable price of Bitcoin will be after completion of 21million f Bitcoins.Stable coin like USDT,DAI,etc have worth and long term vision,Bitcoin and stable coins have different use people who save fiat money for long term and want to capital stable to avoid the risk of getting low go with stable coins.

Investors prefer Bitcoin because there are more chances to grow more,HODL Bitcoin to get good profit.

[HarmonyA]

Bitcoin should be acknowledged as a mean of installment that doesn't peg itself to fiat monetary standards. In the event that Bitcoin is acknowledged legitimately for an item/administration and is then utilized by that merchant to buy different administrations or even compensation workers, at that point Bitcoin will accomplish an incentive inside the network and can be adopted.

[yazher]

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 support this strategy to further increase the price. the problem is, we cannot judge them if they wanted to sell their BTC because of their personal needs. we need to further understand that not all people have the same mindset like we do. I think if we agreed to this statement, we can help increase its price and positively invite more potential investors to join us hold some BTC.

[gundala]

There are people that are now willing to use bitcoin and the problem is the business that are still not ready to accept bitcoin. There will no mass adoption that will happen if those merchants are still focusing to use traditional payment system than the current payment system. Our economy will boost more if we will use cryptocurrencies, there are also a lot of advantages that they can get from accepting bitcoin and using it. There are just not aware so it is the reason why for them fiat is still the best way to use.

So far, for instant and micropayment, fiat is more effective than cryptocurrency. In addition, it is usually constrained by the binding legal rules in the country, it is usually not allowed to make transactions with other currencies, other than the official currency in the country. After all, cryptocurrency is very volatile, the seller must think repeatedly to determine the initial capital and the benefits, it is quite difficult to determine when cryptocurrency prices are not stable. This problem can actually be solved by using a coin stable, but back again to the applicable rules and effectiveness.

[hahay]

I think the opposite, if you just save it means it will fade faster, because you don't know how long you have to keep it and how long you will live. Utilizing bitcoin is not just for storage but is used because using bitcoin will create something more useful for its own growth and about popularity which should be continuously improved. Just storing bitcoin is not the right way to use bitcoin, how can you only save bitcoin but you want something fantastic growth in the future, use bitcoin in many sectors so that the growth of adoption can continue.

[Gladiator25]

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

you should have said "continued using it" instead of keeping because if they keep it, it sounds like HODLing and that is not doing anything.

in any case this problem has always been with bitcoin. the price rise alone makes people want to "invest" in bitcoin instead of seeing it as a currency. that is why so many people are calling it store of value these days instead of a currency.

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?

not unless someone finally comes up with some actually decentralized stable coin otherwise centralized ones are not even close to being 0.001% useful as bitcoin!

Hodling cryptocurrency actually does help. People are holding it because it has value to them. "worth" is given when something is valuable to someone.

I could sell someone a rock for $100,000 if they find "worth" and have the resources to purchase it.

If someone is willing to hold a bitcoin and not get rid of it because it has "worth" to them, then I am all for that.

For me, holding some bitcoin is not as a good idea because it's like a fiat money that circulates around and/or across the world. Bitcoin and other cryptocurrency has also the same concept as the fiat. Though it is not thoroughly circulates but the coin may be burnt. Burnt because there are some coins and other project are usually not being implemented and/or being remove in the currency.

[TimtheYoutuber]

I am bringing this back because we are already seeing a huge drop. Obviously the markets are down too so you can blame it on that.

[princesspoppy]

Over the years, bitcoin has been used and considered as store of value and until now, it still do. I don't see any problem with that and I don't consider it as underutilizing it if it is kept that way. If people will see and use it as a currency, it is because they see the potential of it as a currency but that doesn't mean that all people should always use bitcoin that way. It still depends on how they see bitcoin - either as a store of value or as a currency. It is the way people will see it's worth.

[verita1]

BTCitcoin will be used more in commerce if transaction time and fees are reduced. Currently, platforms and networks are being developed to achieve this.
In particular, I have exchanged ethereum for Bitcoin to send remittances to my country. Then I found other ways that had lower rates on some peer-to-peer exchange platforms.

[Mpamaegbu]

I think we need to circulate the Bitcoin. If you want Bitcoin to be more healthy and active, somehow we need to circulate it through merchants who offer services or products that need bitcoins as payments. That is the true essence of Bitcoin's existence. To be an alternative medium of payment in every transaction.

Value gives rise to demand, and demand gives rise to price surge. It's a natural market sequence and dynamism. I don't think it's forced on people. With time bitcoin will get its proper footing and the volatility experienced in 2017 will return. It's a matter of time and awareness is still growing.
It's not really true that Bitcoin is underutilized.

[elenag442]

I think no, starting now and into the foreseeable future Bitcoin are going to be generally mentioned and mainstream as an elective speculation to defend individuals' cash.

On the off chance that the monetary emergency keeps on plaguing fiat and financial exchange speculators/dealers then a couple of people may begin daring to other better and significant resource, for instance , Bitcoin, Gold or Silver.

[gmakaveli]

Those who use bitcoin only as a means of payment or something similar, that's who underutilize bitcoin.

It's actually quite opposite from the truth. If you want adoption, let merchants know that once they accept Bitcoin, people will show up

[BennyK]

I will not push much blame on adopters of Bitcoin now because mass adoption is yet to be achieved. And once this is achieved, several merchants, businesses, firms, companies etc will accept it as a form of payment where it will have a wide range of usability as it was created to be. For now, most of its investors will continue to see it as a store of value.