digifinex.official (OP)
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November 18, 2020, 09:46:14 AM |
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Or will it one day be truthfully utilized for day-to-day life like paying for meals?
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kentrolla
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November 18, 2020, 12:08:55 PM |
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Definitely this is going to happen for sure people will use bitcoin as a payment system for every purpose, like buying everything for human needs and we are all set to go in couple of years the reason we are lacking behind is still many countries have not accepted BTC as a legal asset. Due to it's high popularity things will change in real quick time and the government should allow it's public to use btc with full freedom as a payment gateway, if things goes well we are going to see a new generation of technology.
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Wexnident
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November 18, 2020, 12:16:45 PM |
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I'd like it to be tbh. Well, it should happen in the long term since there should be a point where there wouldn't be really any point in investing to profit, but instead would turn into a safe asset instead. Still, spending it as day-to-day would only be a minority, and most of its usage would most likely be international transfers instead, since it's a lot more used that way, not that paying with daily expenses usiing Bitcoin wouldn't be used. It's clear that multiple payment methods would always be a thing, and wouldn't really be frowned upon since it's rather easy to see that it benefits everyone. So I doubt a payment where Bitcoin is solely used, or Bitcoin is solely banned would happen in anyway, hopefully that is.
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Taskford
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November 18, 2020, 12:25:23 PM |
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Or will it one day be truthfully utilized for day-to-day life like paying for meals?
For now since the volatility is so high then we can assume that this will be for investment purposes for now, but provably in future once the risk will be minimize due to this matter for sure we will see it listed as options on fast food chains and others. So let's hope that more good times especially with more good price projection in future so that we can see this happen.
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NeuroticFish
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November 18, 2020, 12:34:46 PM |
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I start to believe it'll remain primarily an investment vehicle. LN should have made it a coin for everyday payments, but I think that its version "for everybody" will be available too late. And by too late I mean that since the institutional investors are also in, by the time it should be use for everyday payments it'll have quite a "lack of liquidity" (even knowing that it has 8 digits after the decimal point, this could be an issue, for example when banks will buy it to replace gold)
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Bitstar_coin
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November 18, 2020, 01:00:51 PM |
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Or will it one day be truthfully utilized for day-to-day life like paying for meals?
when it is generally accepted by all government of the countries in the world to use btc as a means of payment only then will people see btc as more than just an investment vehicle, for now even though some stores (both online and offline) are accepting btc, the acceptance is still very limited, there should be mass acceptance of btc for day-to-day buying, this will change the perception of people to see btc as an investment purpose only.
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AicecreaME
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November 18, 2020, 01:10:51 PM |
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Because of bitcoin's promising nature and volatility, I guess it will remain as an investment or "safe haven" for now. Many users rely on bitcoin's enticing value over a period of time, hence, majority are investing on it even those who talked bad about it before they knew its benefits. It will always be good form of investment compared to fiat currency because it is safe on inflation. However, it possesses risks as well because of varying price depending on season.
It can upgrade and be more than just an investment if majority would start using it and it would be widely-known and adapted over different countries and states. It can be an alternative currency if ever the countries would dive and take the risk of welcoming the bitcoin community in their place.
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tsaroz
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November 18, 2020, 01:17:46 PM |
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Like it or not, the largest part of bitcoin's popularity comes from it's investment prospectus. As an investment tool, trading comes hand in hand as for profiting from crypto investment, the general way is to sell them. With occasional bearish and bullish trend and oscillation even when the price are sideways, bitcoin would always be a trading coin and this simply can make bitcoin live for ever. With it's core techonology, I don't think it could compete with new tokens to act as a merchant payment coin for day to day transactions.
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Malam90
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November 18, 2020, 01:22:11 PM |
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I only believe Bitcoin is such coin which one day will recover if it goes down for temporary period. Now Bitcoin price is volatile and should be cautious in new investment. It can either dump or pump from this point. But in future, it's popularity and demand will increase also. So investment isn't bad idea if you want it for long time but if you want for short time, i will suggest you to stay away from new investment for the next few days and keep it on your observation.
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clickerz
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November 18, 2020, 01:39:20 PM |
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Like it or not, the largest part of bitcoin's popularity comes from it's investment prospectus. As an investment tool, trading comes hand in hand as for profiting from crypto investment, the general way is to sell them. With occasional bearish and bullish trend and oscillation even when the price are sideways, bitcoin would always be a trading coin and this simply can make bitcoin live for ever. With it's core techonology, I don't think it could compete with new tokens to act as a merchant payment coin for day to day transactions.
And I fully agree, this volatility of bitcoin makes it attractive to investors and new traders alike. Since it is easy also for bitcoin to liquidate, and becoming popular day by day, bitcoin become the number one choice to invest. You can check this in coinsmarketcap rankings, bitcoin is always the no. 1 cryptocurrency of choice with billions worth of market capitalization.
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MWesterweele
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November 18, 2020, 02:01:43 PM |
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I start to believe it'll remain primarily an investment vehicle. LN should have made it a coin for everyday payments, but I think that its version "for everybody" will be available too late. And by too late I mean that since the institutional investors are also in, by the time it should be use for everyday payments it'll have quite a "lack of liquidity" (even knowing that it has 8 digits after the decimal point, this could be an issue, for example when banks will buy it to replace gold)
I think bitcoin were merely made as an investment vehicle and so far i didn't have any suspicious where else does this suitable for since we are been used bitcoin as an investment. So far nothing regrettable to those who have decided and didn't doubted to invest in bitcoin way back when this was in its starting point. And who would've thought that this might go this far a cryptocurrency hitting a $17k value.
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tomahawk9
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November 18, 2020, 02:05:47 PM |
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Or will it one day be truthfully utilized for day-to-day life like paying for meals?
Nah, the majority of btc users are hodlers, they choose this path because seeing your btc stash grow in value in the long-term outweighs the need of wanting to spend your precious btc in day-to-day stuff or any other . unless there's some benefit for with BTC (like 30% off if u pay with crypto or earning some reward), the majority of people will not sell-off their coins.
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noorman0
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November 18, 2020, 02:17:32 PM |
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You are like asking about "whether one day bitcoin will be legalized as a means of payment globally?".
Bitcoin legality needs to take precedence before discussing adoption and implementation. We do not want to take risks if the regulations are not fully supportive. Moreover, the Seller cannot expect much on bitcoin if the item to be sold is low(say <$50) and is also available for fiat payments. They will have difficulty determining income.
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7788bitcoin
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November 18, 2020, 02:43:23 PM |
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Or will it one day be truthfully utilized for day-to-day life like paying for meals?
This is the dilemma everyone is having for the past few years when they have so many options to pay their meals i always wonder why would everyone be so adamant that they want to deal with bitcoin for day to day usage for micro transactions, yes you can do micro transactions with lightning network and ask your meal provider to start one lightning channel so that you could pay him using that ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif) .
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concept2
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November 18, 2020, 02:58:32 PM |
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Bitcoin is considered one of the most valuable asset in the world and it does not even have a physical form. People currently believe that bitcoin can give them profit by investing their money in it. I cant predict exactly what bitcoin will become in the future. But it is indeed that bitcoin is hard to be used in our daily life. Low supply (moreover, many bitcoins are lost so they remain inactive forever) high fees, slow conformation are the reasons.
Though, bitcoin is trusted as digital gold. Therefore, it can be used as a bigger scale transaction which can be worth millions dollar. There are many advantages of bitcoin and as users, we habe to understand how to utilize it. But definitly i does not simply use my bitcoin in my daily life. It waste my time and money.
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pankowri
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November 18, 2020, 03:21:29 PM |
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It is a process where the value of Bitcoin is high and its demand is also getting higher day by day. Bitcoin is also used to pay and if the government wants then it can be used in a payment gateway to pay publicly. Because it is not widely accepted for use with freedom. So the demand can be increased if it is accepted all over the world.
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usekevin
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November 18, 2020, 03:21:36 PM |
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We can't know the future,but bitcoin had a potential.So we can expected the bitcoin will be the fiat as like a dollar.It was wish of many bitcoin traders.Many people buying bitcoin from 2017 pump.After 2017,lot of pump and dump in bitcoin price.We should use both pump and dump to inverse your money in bitcoin.
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Smartprofit
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November 18, 2020, 03:54:06 PM |
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Or will it one day be truthfully utilized for day-to-day life like paying for meals?
I think bitcoin will never be used for day to day payments. We see that states (for example, Iran) and large corporations are interested in bitcoin. There are very few coins (18,000,000 coins). At the same time, the number of Bitcoin transactions is limited by the block size (hello, Bitcoin Cash!). An increase in block size is detrimental to decentralization. Bitcoin is the perfect reserve currency. Since Bitcoin allows smart contracts, Bitcoin tokens and digital assets can be created. The main use case for Bitcoin in the future is not money, but protocol.
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ChiBitCTy
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November 18, 2020, 03:56:33 PM |
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I use bitcoin right now as a means of currency all of the time. I buy and transact with both friends and businesses. Yes Bitcoin has become an investment, but it's inherently not one. It's harder for people to see this during bull runs like right now where it's expensive and slow to transact, but often this is not the case. So the answer is we are already there.
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n0ne
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November 18, 2020, 04:02:56 PM |
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Until it gets used on large number of micropayments we can't prioritise bitcoin to be used on day to day needs. Upon the same it is true that bitcoin serves to be an investment vehicle. Maybe in the future things can change when people get awareness of eliminating third party and get the support of government making cryptocurrency usage legal.
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