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adzino
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September 25, 2020, 07:37:03 AM
 #21

BTC is gradually gaining its grounds in the financial institute. Most people prefer using bitcoin as a medium of exchange. Before the advent of bitcoin local and foreign currencies were the only means of financial transactions. Currently BTC has gone beyond bothers and has also made transactions safer and faster without much stress of converting from one currency to another. From my own opinion its a better way of accumulating wealth and secure a perfect future of cashless policy
Are you sure "most people prefer using bitcoin as a medium of exchange"? I mean most people prefer paying with cash as far as I know. They don't like paying with any kind of cashless system (yeah, most shops also prefer they pay with cash!). True bitcoin has gone beyond borders and we can't deny the security of it. But saying it is faster and safer isn't completely correct. It is safe for someone receiving it, not for someone sending it. I mean if they send it to the wrong address or to a scammer, there is no getting it back. Faster? It sometimes takes more than hours to get single confirmation if you don't pay premium fees. The future is unknown. If a better currency is created, bitcoin would just be used as a medium of storage.

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September 25, 2020, 07:50:31 AM
 #22

I believe Bitcoin can become a global currency in the future, not to replace fiat. But as an alternative payment option,
therefore investing in Bitcoin is very profitable. Can be a lesson for all of us when Bitcoin was first started trading,
the price is very cheap. But looking at Bitcoin price today which reached $ 10,600 then Bitcoin future is very bright.
My advice is to collect Bitcoin from now on if you want to become a millionaire.

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September 25, 2020, 08:58:43 AM
 #23

For now accumulating wealth is still a bit unreliable.

The price is still unpredictable and unless you are not that kind of person that would dump your Bitcoin after a huge downfall, you could just hold it. I am not saying that it is bad but right now it is unreliable since there are better assets right now that could give you reliable profits in time. I am holding Bitcoin but I don't hold all of my savings to Bitcoin.

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September 25, 2020, 09:19:20 AM
 #24

Most people prefer using bitcoin as a medium of exchange.
Did you use Bitcoin to pay household bills, taxes, and regular shopping? I doubt it, you'll still use fiat.

Bitcoin is not really good option to pay regular shopping due to high volatility. You'll need to pay higher fees for get confirmed faster, or you'll need to wait until the price is same as your purchase.


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September 25, 2020, 09:34:53 AM
 #25

Most people prefer using bitcoin as a medium of exchange.
Did you use Bitcoin to pay household bills, taxes, and regular shopping? I doubt it, you'll still use fiat.

Bitcoin is not really good option to pay regular shopping due to high volatility. You'll need to pay higher fees for get confirmed faster, or you'll need to wait until the price is same as your purchase.



I agree. The only way for Bitcoin to be viable is through the use of lightning network which as of now is still not fully developed and will probably take more years to be useable for common people. Another option is the use of centralized 3rd-party wallet that accepts Bitcoin to pay for bills, shopping, etc (I personally use this because of how convenient it is with Bitcoin).

Overall Bitcoin still has room to grow and too undeveloped to be compared to a fiat.

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September 25, 2020, 09:35:37 AM
 #26

From my own opinion its a better way of accumulating wealth and secure a perfect future of cashless policy
I would agree on the latter part because bitcoin really gives us the futuristic feeling. However, we're still not sure if such feature will get harnessed by the entire world and totally replace cold cash in the future. You know, fiat got its own advantages which crypto can't beat Grin.

When it comes on the first part, I barely agree to you. Why? Because it is volatile and don't hold an intrinsic value compare to gold or other precious metals. Try to find other means of investment if you really want to store value because crypto is so unpredictable. You can't expect a great or at least same outcome after holding it for a very long time.

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September 25, 2020, 11:27:20 AM
 #27

accumulating wealth in the form of accumuating a bitcoin ? that sounds verry basic if that is the new way to get rich than doing the traditional saving of money which can take more longer  .

when we already accumulated a wealth , this  can secure our future and our families but we can mind the cashless policy because being cashless isnt really that a big deal  .  we can worry more  if there is no more cash or physical ways of transacting  .

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September 25, 2020, 01:03:15 PM
 #28

BTC is gradually gaining its grounds in the financial institute. Most people prefer using bitcoin as a medium of exchange. Before the advent of bitcoin local and foreign currencies were the only means of financial transactions. Currently BTC has gone beyond bothers and has also made transactions safer and faster without much stress of converting from one currency to another. From my own opinion its a better way of accumulating wealth and secure a perfect future of cashless policy

And yes, a way to think that Bitcoin has a better future but I was not thinking that this is a secure currency. We should have to keep thinking about the volatility itself that it makes its future still unpredictable and less secure. What I am just hoping that people will look into this as a currency, not an investment. Because if that will happen, we probably see that more establishments are accepting Bitcoin, more ATM's install, and widen the adoption.

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September 25, 2020, 01:17:43 PM
 #29

No one can make any claims about the future of bitcoin and cryptocurrencies. Until now people entered the crypto market hoping to invest and make a profit.
However, we can fully hope that in the future, bitcoin and cryptocurrencies will develop, then blockchian technologies will serve life and bitcoin is accepted worldwide.

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September 25, 2020, 01:48:01 PM
 #30

BTC is gradually gaining its grounds in the financial institute. Most people prefer using bitcoin as a medium of exchange. Before the advent of bitcoin local and foreign currencies were the only means of financial transactions. Currently BTC has gone beyond bothers and has also made transactions safer and faster without much stress of converting from one currency to another. From my own opinion its a better way of accumulating wealth and secure a perfect future of cashless policy


Nobody know what tomorrow may bring in bitcoin, it's too early to know the future of bitcoin. So far, let's enjoy using bitcoin with less hassle ,fast transaction and cashless payment. Also just enjoy the benefits it gives to us. Earn as much as you can using bitcoin.

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September 25, 2020, 01:58:42 PM
 #31

As Forbes as of late said, Bitcoin’s Rally in 2020 appears to be more maintainable than some time recently. Whereas within the to begin with half of 2019, BTC had a few critical cost picks up. Afterward final year dropped down once more and again. As retailers are increasingly curious about advertising Bitcoin installment, the rally begun once more. Between January and February 2020, the Bitcoin was picking up more than 50%. Possibly this can be fair the begin of more ventures.
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September 25, 2020, 02:12:57 PM
 #32

Easy to say when you live in an urban section of your country.
But when you go rural, you will see a huge difference.

They are still leaning in paper money with every transaction they make.
No smartphones or if they do, just 1 per family.
Sure, bitcoin might be the future but it's just way far to be implemented for now. Maybe if every country is Japan.  Wink

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September 25, 2020, 02:15:30 PM
 #33

Most people prefer using bitcoin as a medium of exchange.
Did you use Bitcoin to pay household bills, taxes, and regular shopping? I doubt it, you'll still use fiat.

Bitcoin is not really good option to pay regular shopping due to high volatility. You'll need to pay higher fees for get confirmed faster, or you'll need to wait until the price is same as your purchase.



I agree. The only way for Bitcoin to be viable is through the use of lightning network which as of now is still not fully developed and will probably take more years to be useable for common people. Another option is the use of centralized 3rd-party wallet that accepts Bitcoin to pay for bills, shopping, etc (I personally use this because of how convenient it is with Bitcoin).

Overall Bitcoin still has room to grow and too undeveloped to be compared to a fiat.

Talks about Lightning have been going on for several years, but so far nothing has been implemented in the main network... Nobody knows how long this development will last! That's why at the moment bitcoin is a bad tool for daily payments!

It seems to me that bitcoin can become a means of payment, if everything in this world will be evaluated in bitcoins, and while it has a crazy volatility, it is just unreal!

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September 25, 2020, 03:13:18 PM
 #34

From my own opinion its a better way of accumulating wealth and secure a perfect future of cashless policy
Too early to say this. Not only because people arround the world still need more time to accept the tech and adopt it, but we can't deny the fact that bitcoin can't replace all the circulating FIAT arround the globe. In a recent analysis, 1 bitcoin should be worth $1 million if we aim to replace just the dollar currency.
Without to forget that bitcoin is still in early stages as a global currency and its network still need to be maintained by devs in order to make it stronger and solid.

I disagree about the first sentence you've said. It was never too early when understand the whole Blockchain and how cryptocurrency works, that alone can conclude that we have a brighter future ahead than those people who don't understand what cryptocurrency really is, unless the Government all over the world starts to see it that way. Japan is the first ever country who adapts Bitcoin as a way of payments or cashless transaction, if I'm not mistaken.

And with that, I can proudly assume that it helps their economy so much more that is why their country is richer and advanced than the other countries when it comes to technology.


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20kevin20
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September 25, 2020, 05:16:31 PM
 #35

I disagree about the first sentence you've said. It was never too early when understand the whole Blockchain and how cryptocurrency works, that alone can conclude that we have a brighter future ahead than those people who don't understand what cryptocurrency really is, unless the Government all over the world starts to see it that way. Japan is the first ever country who adapts Bitcoin as a way of payments or cashless transaction, if I'm not mistaken.

And with that, I can proudly assume that it helps their economy so much more that is why their country is richer and advanced than the other countries when it comes to technology.
A country accepting BTC as a way of payment =/= Bitcoin could become the leader, ahead of fiat and CBDCs. Bitcoin's amount of txs are way too low at the moment to pose a big risk to fiat and they're preparing CBDCs anyway that'll be widely adopted. The governments will never give up power and kneel in front of a decentralized governance. What's even worse is that the world has never been completely decentralized for thousands of years - so removing central authorities may actually destroy the world's current state.

Remember, there'll always be people fighting for power and leadership. As long as they exist, governance will as well.





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isaac_clarke22
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September 25, 2020, 05:20:52 PM
 #36

BTC is gradually gaining its grounds in the financial institute. Most people prefer using bitcoin as a medium of exchange. Before the advent of bitcoin local and foreign currencies were the only means of financial transactions. Currently BTC has gone beyond bothers and has also made transactions safer and faster without much stress of converting from one currency to another. From my own opinion its a better way of accumulating wealth and secure a perfect future of cashless policy

"Perfect future of cashless policy" is kinda not convincing phrase for me actually. It's more like just an alternative to cash we got right now. I can't see the time where there won't be cash anymore since it's gonna be a bit difficult to get used to it. Confirmation of transaction becomes an issue and you never want your money to experience delay upon receiving especially if it is an urgent matter.

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September 25, 2020, 05:48:44 PM
 #37

BTC is gradually gaining its grounds in the financial institute. Most people prefer using bitcoin as a medium of exchange. Before the advent of bitcoin local and foreign currencies were the only means of financial transactions. Currently BTC has gone beyond bothers and has also made transactions safer and faster without much stress of converting from one currency to another. From my own opinion its a better way of accumulating wealth and secure a perfect future of cashless policy


Well, of course. Bitcoin was made for that purpose (i guess?). Bitcoins utilization is very widely known for keeping transactions cashless and hassle free and that is why most people are suggesting it to be used legally and widely locally and even internationally. Although we can use it at the moment, it is still not recognized by most governments and its their loss of missing out on the opportunity of creating a better financial service out of Bitcoin.

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September 25, 2020, 07:27:45 PM
 #38

Too hard to say the market price of the bitcoin is too much volatile but still invest at your own risk many people are making more money with the use of it, it needed a to have a good on technicals skills you must need to learn more experience too it's up to you how to earn

If you will hold the coin and wait for the right time to earn profit.

That's one of the characteristics of bitcoin that newbies should know before investing to it.

Bitcoin is volatile in the market and dealing with it will make our investment to it become profitable.

Learning technical analysis will really help you to improve your performance and good decision making in your investments.

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September 25, 2020, 09:59:24 PM
 #39

Most people prefer using bitcoin as a medium of exchange.
Did you use Bitcoin to pay household bills, taxes, and regular shopping? I doubt it, you'll still use fiat.

Bitcoin is not really good option to pay regular shopping due to high volatility. You'll need to pay higher fees for get confirmed faster, or you'll need to wait until the price is same as your purchase.

Yep, I agree, at least for now. Bitcoin's volatility alone could be a big hindrance when paying for shopping or service. To someone who is doing it right now, I can say, they are really supporting the progress of this technology, but I won't blame those who don't at the same time, as most people in crypto space are seeking to make good profit.
Tx fees and speed won't be a problem in the near future when LN transactions are flawless.

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worldofcoins
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September 26, 2020, 11:23:21 AM
 #40

Too hard to say the market price of the bitcoin is too much volatile but still invest at your own risk many people are making more money with the use of it, it needed a to have a good on technicals skills you must need to learn more experience too it's up to you how to earn

If you will hold the coin and wait for the right time to earn profit.

That's one of the characteristics of bitcoin that newbies should know before investing to it.

Bitcoin is volatile in the market and dealing with it will make our investment to it become profitable.

Learning technical analysis will really help you to improve your performance and good decision making in your investments.

The vast majority are not utilizing Bitcoin as a mode of trade.
A large portion of them is keeping or holding their Bitcoins for the future.
I trust Bitcoin can turn into worldwide money, later on, I am not saying it will replace the fiat but it can replace the most of payment method.

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