What's Next? After Bitcoin Passes The 60K Mark......

[Finestream]

price doesn't change the bitcoin's true purpose, when it was worth $0 and when it will be worth $10million it still the same currency that Satoshi Nakamoto created. for example when it was worth literary nothing someone paid 10000 of it for 2 pizzas which is now known as the first bitcoin purchase in history.
this trend has only grown with the price too. meaning as the price goes higher more people are spending bitcoin. you can even get paid in bitcoin as your salary or part of it.
and of course some people will see this rise and only invest in bitcoin as an asset to make profit but that won't change bitcoin as a currency.

Bitcoin will always be a currency because it is originally designed for it even if nowadays its more of an asset or a good store of value. Now what's next for bitcoin? I honestly think that $100k is very possible for bitcoin at the end of the year. Or it may even surpass it and end up with a new ATH. So having bitcoin as a global currency in the future is now close to reality since institutional investors keep pumping its price untill all big establishments start to accept bitcoin.

[matchi2011]

Is bitcoin for speculation only?   or it is really useful in our daily life?  just curious..  What product can we buy by using bitcoin only...   how many Merchant accepting bitcoin?   is it a huge number?   what do you think?

1. Bitcoin isn't for speculation only. Maybe we can't see the full potential of bitcoin now but bitcoin was made to be a currency just like the Us Dollar and every other currency you might think off. It was made to spent and used for day to day transactions. However, due to the volatility of bitcoin, it is very difficult for this to happen.
2. Yes, It is really useful in our daily lives. Maybe the local stores that you have around you don't accept bitcoin but there are major companies that accept bitcoin for their services and products. Here is a link that talks about those companies
https://99bitcoins.com/bitcoin/who-accepts/

I do think that it is only a matter of time that bitcoin becomes the worldwide currency and is being used and accepted by every merchant.

From how Bitcoin growth and become popular, only a matter of time and it surely be accepted all over the world, there
are many institutional investors and businesses who catered Bitcoin.

From that view point we can assume that in coming years Bitcoin will serve it's purpose, being used for transacting
beyond borders for much quicker and safer process.

[Haunebu]

BTC is primarily viewed as a speculation asset currently which is why it is primarily useful as an asset to majority of the investors.

Anyone saying that BTC has achieved global adoption because of the rising prices are lying to themselves. The truth is that popular cryptocurrencies like BTC, ETH, LTC etc are being accepted by more and more merchants with time.

However, the number of customers actually utilising BTC and other popular cryptocurrencies as payment methods are low currently. This number will probably increase with time.

[Noctis Connor]

Is bitcoin for speculation only?   or it is really useful in our daily life?  just curious..  What product can we buy by using bitcoin only...   how many Merchant accepting bitcoin?   is it a huge number?   what do you think?

To be honest there are many store actually accepting bitcoin as a payment well if you really want to build an store then you can accept bitcoin as a payment too here in my country most of restaurant are accepting bitcoin nowadays because most of people are using bitcoin and now openly good for the government and one of the senator in my country already created an alternative coin where he can say that if this coin are into the market and earn more than it's invested he actually donated it into the poor people. But most of them are into bitcoin industry already.

[livingfree]

~snip~

and if the OP cant find any merchant nearby accepting bitcoin, why not convert his BTC to his fiat, and use that money instead? am not seeing any prob here when it comes to finding shops or merchants accepting bitcoin. because you can always convert it to your fiat. dont be hard on yourself. remember, it is easy to find fiat rather than accumulate BTC.
and definitely, whats next for 60k? 70k and so on...the adoption today is way different than in the previous years.

Yes, converting that to cash to purchase things that he wants.

But his question lies about the direct usage of bitcoin and that's what most of us do when we're going to have it use whenever that advise isn't applicable to us.

That's the choice that he can do but I don't think that answer will satisfy him.

[StartupAnalyst]

Sure there are ways to use your BTC as a currency in different shops. There are some cafes even in my town that gives the opportunity to buy there tea/coffee/some treats and snacks in crypto. One of ways to spend BTC is to register on SpectroCoin: https://spectrocoin.com/en/signup and after several simple manipulations to buy there Amazon Gift Card by BTC that will enable you to buy goods on Amason using it. Another question is in readiness of people to spend their profitable cryptocoins on purchases.

[jaberwock]

Bitcoin could be useful in your daily life just like how fiat could be useful in your daily life. Day by day merchants, services, and entertainments are gradually accepting Bitcoin. So, the mass adoption are slowly taking over.
Just look at how Bitcoin has priced today. By just looking at it, you can already tell how huge the number of people, company, and institutions are owning Bitcoin.
And, everybody thinks the way I think because you're in a Bitcoin forum.

I do not think that we need to wait that long neither. There are places where people could actually end up with a decent card that is tied to an exchange or another place like that, which would allow you to use that debit card to spend anywhere you go. That is a thing today, even on merchants that do not accept bitcoin payments, your card will allow you to keep bitcoin on your account, and wherever you go you will be able to spend it from your debit card, you will be losing bitcoins while the merchant will be getting fiat, that is a great innovation that's getting more famous.

There is noting that we should be worried about on mass adoption, as long as this method gets more and more famous, that would be more than enough for me, I would be able to spend my crypto anywhere we go, that is why there is nothing about merchants accepting bitcoin that would change things if this debit card thing gets more famous.

[Kong Hey Pakboy]

Sure there are ways to use your BTC as a currency in different shops. There are some cafes even in my town that gives the opportunity to buy there tea/coffee/some treats and snacks in crypto. One of ways to spend BTC is to register on SpectroCoin: https://spectrocoin.com/en/signup and after several simple manipulations to buy there Amazon Gift Card by BTC that will enable you to buy goods on Amason using it. Another question is in readiness of people to spend their profitable cryptocoins on purchases.

I envy your country or wherever you are because that means that there is a progress happening there, in my country there is close to no businesses that are doing this kind of stuff because A.) They do not want to integrate it because they are scared of what they don't know or B.) They do not know about it all, with B being the most frustrating of the two because businesses in A can be persuaded. Maybe what is next for bitcoin after reaching the 60k mark is it will try to break the 70k and 80k as usual.

[BlinkInDie]

I think that BTC already has some use cases in our world today because most companies are already expanding their services for crypto also. Just like Tesla, when they announced that you can buy a tesla using BTC. It already has that use case scenario that might be not that great for others right now, but I feel that we still aren't discovering its full potential. Some others are saying that BTC will disrupt the bank but I think that isn't right. Instead of disrupting, I feel like BTC will actually help banks. The question I have in mind now is a little related to the title of your thread, what's next? I was thinking of publicly traded companies that are related to crypto. Will they also increase their value because of their connection to Crypto?

[LUCKMCFLY]

I think that Bitcoin at the moment has a lot of potential, some are betting on the disproportionate fall, but I think that when it passes $ 60k it will rise greatly, some say it can reach $90k. And others are more optimistic as in this article:

Bitcoin can reach $400K in 2021 as 'risk-off reserve asset' — Bloomberg

While McGlone did not provide exact details of the factors behind Bloomberg's view, the idea of Bitcoin reducing, rather than increasing portfolio risk is the talking point of the year among corporates. New reports of treasury allocations to BTC appear frequently, with appetite unfazed by price action.

Source: https://cointelegraph.com/news/bitcoin-can-reach-400k-in-2021-as-risk-off-reserve-asset-bloomberg

As it is merely speculative, this scenario may occur, although I think the analysis is very optimistic.

[hahay]

I think as long as the price can continue to move at least it will still be useful but indeed, about how many merchants accept bitcoin it still depends on the policy of the government of each country. I'm sure if the government can fully legalize bitcoin then of course there will be plenty of merchants accepting bitcoin. Regarding usefulness or not it depends but what is clear, even though the price has gone down, there are still many who make transactions in it and this proves that bitcoin is still useful because if not, maybe bitcoin has become zero.

[fullhdpixel]

Is bitcoin for speculation only?   or it is really useful in our daily life?  just curious..  What product can we buy by using bitcoin only...   how many Merchant accepting bitcoin?   is it a huge number?   what do you think?

The price movement is not over yet, and I believe that it still has a long way to go.The question is what happens after we have mined the last Bitcoin? But there wouldn’t be a need to talk about that since it is going to be a long time before we will see that happen.

So, to answer your main question which is what happens after this 60k dollars? Well, nothing much, we are still going to continue making use of Bitcoin the same way that we have been making use of it, for transactions and for a store of value, nothing really more than that. But, hitting 60k dollars does not put a limit to where the price can reach in the future, we still have a long way to go.

[Ibrahim60]

Is bitcoin for speculation only?   or it is really useful in our daily life?  just curious..  What product can we buy by using bitcoin only...   how many Merchant accepting bitcoin?   is it a huge number?   what do you think?

Bitcoin is one of the most popular and potential coin in this time. Till now this coin is not accepted by all the government in the world. Some accept it and some don't show any interest. Hope in the future every government will accept it. We can buy some products where Bitcoin payment is accepted. This type of store or shop not much number. But day by day this number is increasing.
Bitcoin is the most potential coin and make huge hype in the present time. So its price will cross $60k, $70k or more than that.

[mazdafunsun]

lol, your question coincided almost perfectly with tesla news that they are accepting Bitcoin for their cars.
This is huge and will make other retailers accept bitcoin as well, i think this answers your question.

[pinggoki]

Is bitcoin for speculation only?   or it is really useful in our daily life?  just curious..  What product can we buy by using bitcoin only...   how many Merchant accepting bitcoin?   is it a huge number?   what do you think?

There's so many product in which you can use bitcoin in order to buy them just like for example Tesla cars, you can buy those by using bitcoin and it is already said by Elon Musk that they will accepting bitcoin as a payment another thing is that some online shops or even coffee shops, they are accepting bitcoin as a mode of payment in order to have some unique mode of payment. But to be honest as of now few stores are the ones who are accepting bitcoin but I believe that as time passes by the people will eventually accept and use bitcoin for their daily lives.

[arallmuus]

As it is merely speculative, this scenario may occur, although I think the analysis is very optimistic.

Thats sounds really optimistic but the scenario might or might not occur. To be honest I dont expect to see bitcoins at 400k this year. By some tiny chance, we might pass the 100k mark ( obviously passing the 60k mark first ) but after that I'd expect there will be blood and it could be ugly especially for those who purchase bitcoins around that number

There's so many product in which you can use bitcoin in order to buy them just like for example Tesla cars, you can buy those by using bitcoin and it is already said by Elon Musk that they will accepting bitcoin as a payment another thing is that some online shops or even coffee shops

Only if you already have bitcoin. Otherwise it will be pointless to purchase bitcoins with your cash then purchase the goods while you can use your cash directly to purchase the goods

[Theones]

The only thing happened after btc crossing 60k was that it falls back to 52k. With so much high price, network fee is also very high and it's not possible to buy any stuff for daily living using btc. I don't think current bull run will do any good for bitcoin in terms of payment system.

[arwin100]

You should check this if you want to know on which big merchant accepts btc on their stores or company Merchant who accept bitcoins


You can see there that the company adopted it is no joke so we can see more big thing since the potential of bitcoin grows up for more. And if you are doubting after bitcoin reach $60k and dump you can monitor how the flow going.

[bitgolden]

The only thing happened after btc crossing 60k was that it falls back to 52k. With so much high price, network fee is also very high and it's not possible to buy any stuff for daily living using btc. I don't think current bull run will do any good for bitcoin in terms of payment system.

Bitcoin for daily living has not been a thing for a while now, I know that many people think that way but the reality is that we are not there anymore, which is why I think it is quite obvious that we should not be considering anything like that neither, we should be basically hoping for something that would be a good asset.

You do not buy and sell anything with gold neither, but people do buy gold and store it because it has value and we assume it will forever have value as well, this is why I think it is quite obvious bitcoin will have value as well even if we do not end up using it. That is not the only case neither, we are also talking about bitcoin having other altcoins, so if you are involved, you could use something other than bitcoin to move money around and it will be still cheap, there is no cheaper offer in the world, you could send from one nation to another nation with cents, that's awesome.

[blckhawk]

Is bitcoin for speculation only?   or it is really useful in our daily life?  just curious..  What product can we buy by using bitcoin only...   how many Merchant accepting bitcoin?   is it a huge number?   what do you think?

I can assure you that it is really useful in our daily life based on my experience because compared to before I have now a little bit amount of money though I don't have any job yet. The thing is even without a job you could still earn money via trading Bitcoin, investing, and more. However, as much as possible having a job is still better. Regarding what we could buy using Bitcoin, everything whether it is online stuff or services as long as the merchant accepting Bitcoin. However, you could still buy whatever you want with bitcoin but you must convert it into fiat though. I would say Bitcoin adaptation is now getting bigger hence there must be a pretty decent number of merchants who already accepting Bitcoin as payment take Telsa for example.