Sorry guys.. Bitcoin is not for our day-to-day transactions.

[Renampun]

So far, this is true, but I hope the situation will change. Maybe there are ways to make these transactions something everyday.

those who have been in Bitcoin for a long time will understand that Bitcoin fees are never different...
I have noticed that the average fee for each Bitcoin transaction that I make varies and depends on the busyness of the network, what makes the fee look expensive is the already very high Bitcoin price. if the price of Bitcoin is below $ 10k, the fee we have to pay will not be as expensive as it is now.

[witcher_sense]

Thanks for the valuable information.  I will definitely read this book.

These books are available for free in multiple formats: https://mises.org/library/murray-n-rothbard-books

In my opinion, money has two functions - the function of payment and the function of saving.  Bitcoin is very efficient for preserving capital.  However, there is one caveat.  

Money as a means of preserving one's wealth is rather a secondary function for the reason that most folks have very high time preference. They strive to satisfy their needs as quickly as possible, can't afford to postpone consumption. Moreover, basic needs are what all people have to satisfy in order to survive despite the time preference they may have.

Bitcoin is not an anonymous or private cryptocurrency.  If the owner of the bitcoins is not anonymous, then hackers and robbers can easily attack him.  Many people don't have enough technical knowledge to store their bitcoins on their own.  

Also Bitcoin is having difficulty performing the payment function.  These are technical difficulties due to the small block size.  7 billion people will not be able to use Bitcoin at the same time.  The number of daily transactions on the Bitcoin network is limited.  

The main advantage of Bitcoin is that it allows transactions of very large amounts of money.  

Therefore, in the future, I consider countries and large corporations as the main users of bitcoin.

Bitcoin blockchain is a settlement layer on top of which we can build as many layers as we want.

[OcTradism]

you are wrong.
the only reason why bitcoin value keeps going up is because so far bitcoin adoption has been small and until we reach mass adoption it will continue to rise exactly like this.
but when the mass adoption is reached the value becomes a lot more stable than today so it won't be like waking up tomorrow seeing price has gone up 50%.
the only thing that will rise in the future is the price and that is only because the fiat is constantly tanking otherwise the value will remain the same.

People might think that with mass adoption, there will be more liquidity, higher volume on exchanges when more people actively join bitcoin tradings. It can be true but it does not mean that total circulating supply of bitcoin will be redistributed from the rich to the poor. The rich (bitcoin billionaires) will always hold the dominated amount of bitcoin, the poor can be the most active elements in the market and contribute most to volume but they will be still the poor.

With future and leverage trades, more adoption for such together with bigger adoption for bitcoin, volume and liquidity will increase.

[maculeth]

yes, all of that is true and I agree, and if bitcoin is used as the main legal payment instrument it will be a bit of a hassle because the value of bitcoin is very volatile and there is also a limited supply of bitcoin as well.

[so98nn]

3. Technically bitcoin is designed to be having huge value.

Ahh, this point is something. I’m not sure how many agree on this but gradually bitcoin is showing up signs of highly valued asset. It has pass on worlds best assets such as gold, diamond, and idk may be rarest painting is getting faded in front of btc value. If btc would have been physical coin then one could just throw away 5-6 coins and buy whole villa with it. Lol

It seriously looks like asset with demanding value. Bitcoin has managed to get into everyone’s wallet even though we can’t pay for groceries and that’s win win situation.

[michellee]

As an asset, we do not have to use bitcoin for a day-to-day transaction. We have the other coins that have a low fee for making a transaction, and I am sure that it will come the day for us to use that coins to store our bitcoin for the other purposes. So if you want to have fiat, you can sell your bitcoin, and do not use bitcoin for another transaction instead to save more bitcoin. People will have their own decision to use bitcoin as their daily transaction or use the other altcoin because it is about comfortably for each person will be different.

[bryant.coleman]

As an asset, we do not have to use bitcoin for a day-to-day transaction. We have the other coins that have a low fee for making a transaction, and I am sure that it will come the day for us to use that coins to store our bitcoin for the other purposes. So if you want to have fiat, you can sell your bitcoin, and do not use bitcoin for another transaction instead to save more bitcoin. People will have their own decision to use bitcoin as their daily transaction or use the other altcoin because it is about comfortably for each person will be different.

Agreed. Some people are not yet ready to agree that Bitcoin is primarily used as a speculative investment asset now, rather than as a currency. Bitcoin can be used as a payment medium. But rather than using Bitcoin directly, it will be better to use third party services such as BitPay for this purpose. Third party processors can resolve the issue of high transaction fee and delays in getting confirmations.

[michellee]

As an asset, we do not have to use bitcoin for a day-to-day transaction. We have the other coins that have a low fee for making a transaction, and I am sure that it will come the day for us to use that coins to store our bitcoin for the other purposes. So if you want to have fiat, you can sell your bitcoin, and do not use bitcoin for another transaction instead to save more bitcoin. People will have their own decision to use bitcoin as their daily transaction or use the other altcoin because it is about comfortably for each person will be different.

Agreed. Some people are not yet ready to agree that Bitcoin is primarily used as a speculative investment asset now, rather than as a currency. Bitcoin can be used as a payment medium. But rather than using Bitcoin directly, it will be better to use third party services such as BitPay for this purpose. Third party processors can resolve the issue of high transaction fee and delays in getting confirmations.

Maybe they will not agree about bitcoin now, but we can hope that it can become a reality in the future. Using third-party processors can be an alternative for people to pay, and I think they can try to look if there is another option to pay, so they do not have to pay using bitcoin if they doubt bitcoin. As the bitcoin price now increases so high and that attracts the fee to increase, maybe that is why people not to agree to use bitcoin.

[Sterbens]

in my opinion it is true, that bitcoin is sufficient only as an asset to secure your money. not required as a whole transaction tool. bitcoin is invested, although there are many shops, as well as personnel services that allow payment with btcoin in my opinion it is better to use an alternative to fiat money. because bitcoin has a price value that continues to increase from time to time. cultivating bitcoin is very good for the future.

[testabcde]

Bitcoin is the central bank. You dont use the central bank for your day-to-day transactions but it is backing the whole ecosystem.

[Wipeout2097]

I ought to concur with this explanation here. In spite of the fact that I too utilize Bitcoin for my day to day exchanges particularly when crisis, by changing over it to begin with to my neighborhood money, but as much as conceivable I don't wish to utilize my Bitcoin but to hold it instep. I have seen how much it can advantage me more on the off chance that I would fair hold and treat Bitcoin as my speculation.At the end i experienced that Bitcoin is not for emergency right now but in future it will easy for emergency transactions when globally legalized.

[Rengga Jati]

If it is about transactions, yeah it is surely, Moreover, we know that besides the fee is very high, we may not be able to find many merchants around us to make a certain transaction with Bitcoin. Moreover, as what happeneds in my country, BTC is not legal for transactions or payments. So, it is very limited.

But it is also something very valuable that we cannot miss. Besides proving very valuable log=term investment, Bitcoin is also very promising for day traders, both spot or even more to the future trading. I am not really good at future trading and I am still very new about it. But for sot, this si also profitable for the short term.

[Ryker1]

^[snip]
But it is also something very valuable that we cannot miss. Besides proving very valuable log=term investment, Bitcoin is also very promising for day traders, both spot or even more to the future trading. I am not really good at future trading and I am still very new about it. But for sot, this si also profitable for the short term.

Well, I agree with you on this and you have a point. Bitcoin is really good for the transition because it is very easy and fast upon moving your fund. But the problem is people don't want to spend their bitcoin, we understand them because I am doing the same to them, I don't want to spend my bitcoin because I know this is a very promising asset if we are going to hold this for a long time and take profit when the price too much high as we purchase bitcoin. This could be the reason among us not to choose daily transactions.

[Oceat]

I ought to concur with this explanation here. In spite of the fact that I too utilize Bitcoin for my day to day exchanges particularly when crisis, by changing over it to begin with to my neighborhood money, but as much as conceivable I don't wish to utilize my Bitcoin but to hold it instep. I have seen how much it can advantage me more on the off chance that I would fair hold and treat Bitcoin as my speculation.At the end i experienced that Bitcoin is not for emergency right now but in future it will easy for emergency transactions when globally legalized.

Somehow, the explanation of OP is what really the truth is and I can't deny it but it seems to me that only those people who thinks Bitcoin is for investment only and not for day-to-day transaction. Bitcoin is designed as a currency and because of people starting to adopt to it the value of it is increasing. So for people who spent Bitcoin for everyday use that is how we use Bitcoin and for holding forever, you can't enjoy your reward if you keep holding it waiting for the right time to dump. Sell some and reward yourself!

[samputin]

~ But sorry, Bitcoin really is for my day-to-day.

With that, we can say that bitcoin for everyday transaction depends on the person. Some say here that they will not or cannot use bitcoin for their transactions daily but you are able to counter that. So maybe, it just varies from person to person and for their own reasons, one of which is the transaction fee.

As for me, I don't use bitcoin yet. Simply because I don't have many of it. If I have to spend, I convert some of it to fiat first then use that to pay my bills or buy for things. Otherwise, they're only there and is stored for hodling. If I think that my earning in bitcoin is enough, then might as well use it directly for my daily transactions.

[Lorence.xD]

Sorry but the majority of my transactions are for day-to-day transactions. Top of the list is food delivery (which is getting more frequent in these times), but I'm also now already able to get a lot of credit (paid for with Bitcoin) at almost all the stores I shop at. Cashback rocks.

That's not even counting the payments I make to people or to deposit for the things I do every day (sportsbetting for example). All in Bitcoin.

Sure, I still have to sell for the cash to pay most bills and other expenses. And granted, it'll continue to be the case for a while. But sorry, Bitcoin really is for my day-to-day.

You have a pretty good area surrounding you then, a lot of business accepting cryptocurrency payments is something. Although, I have to disagree with you, for me it is not a day to day if in general consensus because a lot of businesses are tied to banking institutions and small businesses do not want to gamble by getting into cryptocurrency as part of their daily transaction, maybe for some it can be like yours but for me on a practical standpoint I do not think so.

[dansus021]

Yes that kinda true remain like this with same total supply and 1mb per block

Bitcoin is higher fee because so many transaction and the price keep rising up for hodl is good choice
Even the omni token has higher fee

I think for daily use we can use altcoin like ethereum or litecoin maybe

[CryptopreneurBrainboss]

in my opinion it is true, that bitcoin is sufficient only as an asset to secure your money. not required as a whole transaction tool. bitcoin is invested, although there are many shops, as well as personnel services that allow payment with btcoin in my opinion it is better to use an alternative to fiat money. because bitcoin has a price value that continues to increase from time to time. cultivating bitcoin is very good for the future.

The idea behind the creation of bitcoin was to bring into existence an alternative currency to the fiat system. It technically didn't present itself as an asset although it does has the features of one due to its finite supply and the fact that it's tradable. Assuming bitcoin was foresaw as a potential investment vehicle, maybe the price would had been trading at outrageous prices by now because the elite would had bought all the bitcoin from circulation as they're trying to do now under the disguise of been Institutional investors.

Bitcoin can bought be used as an asset and a currency, it has these features already built into its network. One shouldn't be discouraged while the otheyis been advocated for. We need both features ti succeed in order for bitcoin to become a success. It'll be worthless when bitcoin is priced high yet can't be used for purchasing anything as a currency it claims to be.

In regards to the day to day transaction, it's no news that bitcoin is been used already for these type of transaction. If your region that have any of those options yet that doesn't mean other regions don't have.

[bbc.reporter]

Sorry but the majority of my transactions are for day-to-day transactions. Top of the list is food delivery (which is getting more frequent in these times), but I'm also now already able to get a lot of credit (paid for with Bitcoin) at almost all the stores I shop at. Cashback rocks.

That's not even counting the payments I make to people or to deposit for the things I do every day (sportsbetting for example). All in Bitcoin.

Sure, I still have to sell for the cash to pay most bills and other expenses. And granted, it'll continue to be the case for a while. But sorry, Bitcoin really is for my day-to-day.

However, it does not imply that bitcoin is a perfect medium to use as a system for payments. It is not only you who uses it for gambling and spending for other things. Many users also use it with much complaints on the high fees and long confirmation times. We should be realists.

[Argoo]

yes, all of that is true and I agree, and if bitcoin is used as the main legal payment instrument it will be a bit of a hassle because the value of bitcoin is very volatile and there is also a limited supply of bitcoin as well.

No, bitcoin was originally conceived as an alternative means of payment to the existing payment system specifically for everyday transactions. However, their number has now grown so much that, given the sharp increase in its price, it has really become profitable to use it only for large transactions. Perhaps this status will be fixed for bitcoin.