The digital perfection of Bitcoin

[Baby Queen]

The Bitcoin Price In The 2021 Creat New All Time High So Now Again Huge Down As Like All Time High Go To About $70k But Now Price Fall Down Huge Now Live Price $47k

So We Are All Waiting For Again BTC Can Go To Nww ATH $75k And $80k If All Ok

[Vaskiy]

Technology won't make a change over a night, it takes time. With time the technology also need to be updated to meet the necessity of the users. The necessity differs with time. As said confirmation time is a must to consider, because in the past people never thought of it. Now when there were more other possible ways for fast transaction people think of it.

The upcoming generation will be much into technology. So, everything is getting dogitized and the currency too is dogitized. However people always look bitcoin as an alternate than a mainstream currency.

[Ararbermas]

People always say that Bitcoin is the digital money that will take over soon as the world is digitalized,but they have not understand something, It may not be easy as we  think due to some delays in confirmation of transactions,It will be a good development to the whole world, but how do we perfect this and make it handled and easy as a physical money? Bitcoin has actually come to stay an let make it perfect and make it easy for everyone to use, through the digital. Yes I agree that Bitcoin is future currency, but let it be easy to use ?

it's so easy to use of course because it's a digital currency wherein no hassle when it comes making transactions. Indeed that's the reason why many people like cyrpto than any digital currency and mostly believed that it will become the future money base of the advantage of holding than real state. Just imagine the opportunities wherein obviously there's a freedom with crypto that's why a lot people love it. there's no requirements as long as you have capital.

[StarKay]

What I understand from your write-up is that you love Bitcoin and you will like to use it for your everyday transactions but you don't think it's possible due to the delay in confirmation time, so you would like to see this improved upon after which you can now see Bitcoin as perfect for your daily usage.
I'll say wait for it, Bitcoin is not constant as developers are always thinking of ways to make it better.

[tippytoes]

What I understand from your write-up is that you love Bitcoin and you will like to use it for your everyday transactions but you don't think it's possible due to the delay in confirmation time, so you would like to see this improved upon after which you can now see Bitcoin as perfect for your daily usage.
I'll say wait for it, Bitcoin is not constant as developers are always thinking of ways to make it better.

Confirmation time and fees are the top reasons why most people are hesitant to use bitcoin in their transactions. Aside from that, many are still looking at bitcoin as a very good investment asset that will possibly give them good profits. This is why most holders are just holding it and not using it for everyday purchases. No technology is perfect anyway. Bitcoin has some shortcomings but we already gone a long way just by looking the price level in the market compared to even 5 years ago.

[Mamun74]

Bitcoin is a digital currency and bitcoin is decentralization that will never be stable. Nowadays many people interested bitcoin many countries are accepted in bitcoin and they can use it in legal.i hope we will use it in freely in future. Definitely bitcoin development huge increase last two- three year i hope it will be more development in future.

[maydna]

I don't think bitcoin will take over after the world is digitized because I prefer to see bitcoin and the current financial system work together to give the best to the community. Bitcoin is in the adoption stage, and it continues to happen until now, while more and more countries are accepting bitcoin as an asset that can be a new source of investment for people.

But the use of bitcoin and fiat will not be the same even though they can both make payments. And so far, the use of bitcoin and fiat can be equally easy to do, and I think confirmation will depend on each network.

[Flexystar]

One could care less if they know very well how the bitcoin transactions work. They are coded to be irreversible so no one can betray you once they initiate the transaction. I mean as soon as the transaction is broadcasted over the network it’s already half way through it. The half makes it permanent and irreversible. Yes obviously there are some ways in theory using which it can be rejected but that would take 51% attack; that also has many loop holes. So I’m not sure what’s the fear here.

Secondly, bitcoin do not want to rule the world and neither it is looking after to replace the banking system. That is not the vision here.

Bitcoin is free, independent and anyone can use it as they require it.

[amiacaroline37]

I believe we're misjudging bitcoin on certain aspects. Bitcoin isn't intended to supplant the current fiat framework but instead, exist together with it and go about as another option. While the facts confirm that there are heaps of upgrades that we can in any case have for bitcoin, it will in any case not do the trick to meet the specs of fiat. Then again maybe bitcoin can fill in as a motivation to the framework that will supplant fiat. The system is now there, and the idea has as of now been demonstrated. It will come, however I don't imagine that it is bitcoin that will bring down fiat off of its high position.

[fullhdpixel]

I don't think bitcoin will take over after the world is digitized because I prefer to see bitcoin and the current financial system work together to give the best to the community. Bitcoin is in the adoption stage, and it continues to happen until now, while more and more countries are accepting bitcoin as an asset that can be a new source of investment for people.

But the use of bitcoin and fiat will not be the same even though they can both make payments. And so far, the use of bitcoin and fiat can be equally easy to do, and I think confirmation will depend on each network.

I don't know if we are on a digital age right now or not because there are still things that does not totally depend digitally. Although we have advance technologies right now but there are still fiats that people use. In the digital world we also have paypal and i heard there are upcoming CBDC or central bank digital currencies as they call it that said to run also in blockchain just like bitcoin and with that, I do not think bitcoin can take over.

BTC and fiat are both currencies although btc can be used as an asset while fiat isn't but the confirmation time and the fee can be the biggest draw back of btc compare to fiats. But, personally I have ignored such things and I guess all people who loves the basic concepts of bitcoin payment system.

[maydna]

~snip~

I don't know if we are on a digital age right now or not because there are still things that does not totally depend digitally. Although we have advance technologies right now but there are still fiats that people use. In the digital world we also have paypal and i heard there are upcoming CBDC or central bank digital currencies as they call it that said to run also in blockchain just like bitcoin and with that, I do not think bitcoin can take over.

BTC and fiat are both currencies although btc can be used as an asset while fiat isn't but the confirmation time and the fee can be the biggest draw back of btc compare to fiats. But, personally I have ignored such things and I guess all people who loves the basic concepts of bitcoin payment system.

When people out there can feel a little bit of the advantages of bitcoin, they will realize that bitcoin is there to give them the opportunity to manage their finances without any interference from other parties. They can stay connected to fiat regulated by their government but can also use bitcoin freely without needing help from other parties unless they want to cash out bitcoin to fiat. I prefer it that way because we can use both bitcoin and fiat at the same time and we can also have other sources of income.

We are now in the digital era, although not everything can be fully functional because stages still need to be developed. But later, when everything is connected, maybe we will also see fiat in digital form, which has already happened in some countries. Maybe CBDC was developed like a blockchain to allow the government to control finances, but I don't know. I'm not really thinking about it at the moment.

[AicecreaME]

People always say that Bitcoin is the digital money that will take over soon as the world is digitalized,but they have not understand something, It may not be easy as we  think due to some delays in confirmation of transactions,It will be a good development to the whole world, but how do we perfect this and make it handled and easy as a physical money? Bitcoin has actually come to stay an let make it perfect and make it easy for everyone to use, through the digital. Yes I agree that Bitcoin is future currency, but let it be easy to use ?

In my honest opinion, bitcoin isn't really perfect because it has its flaws. No matter how many people glorify it, we can't deny the fact that like any other medium of exchange and store of value, it has its fair shares of shortcomings. Maybe the reason why people call it perfect in the digital world is because of blockchain technology. But transaction itself still has flaws that need to be addressed in order for it to be successful and more convenient in the future. For instance, the transaction fees and time need to be improved. There are times that the value of the transaction fee is much higher than the transaction you'll make which will make you think twice if it's worth it to push through or not.

Although I admit, there is a lot bitcoin has to offer. Indeed, it is really beneficial to those who know how to utilize it to their advantage without depending on anyone but their knowledge and skills alongside with professional's teachings. It lets us manages our finances without the need for a KYC for some platforms and without the involvement of other organizations and institutions which is very ideal because we can monitor our assets and we know that we are secured because we can do and add whatever security feature and means of our liking.

[uneng]

People always say that Bitcoin is the digital money that will take over soon as the world is digitalized,but they have not understand something, It may not be easy as we  think due to some delays in confirmation of transactions,It will be a good development to the whole world, but how do we perfect this and make it handled and easy as a physical money? Bitcoin has actually come to stay an let make it perfect and make it easy for everyone to use, through the digital. Yes I agree that Bitcoin is future currency, but let it be easy to use ?

You have a point, indeed transactions' delays and costs have been an issue when using bitcoin as currency on daily life. In the future this aspect is probably going to be improved, as technology keeps advancing and new ideas are introduced to crypto universe.

Anyway, I think a temporary solution for now would be sellers and buyers adopt a same centralized crypto payment system, so every internal negotiations made inside this system would happen without any transactions' fees or delays.

[taufik123]

Yes it is true bitcoin will not be able to replace fiat currency because bitcoin is only used as an alternative currency to make payments when fiat currency experiences inflation because bitcoin is guaranteed to be resistant to inflation because of its limited supply, as we have seen in El Salvador though currently their government has legalized bitcoin as a legal tender in the country but they still use fiat money as the mainstream currency.

Elsalvador is a country that truly exemplifies what bitcoin adoption has done. Fiat and Bitcoin coexist to be legal tender. Even the president of El Salvador will establish a bitcoin city where all transactions are carried out using bitcoin as the main payment. it's a big step that will make bitcoin adoption even crazier. Bitcoin is the most valuable digital currency and is able to change the way transactions and transactions are carried out are also transparent.

[andriarto]

Yes it is true bitcoin will not be able to replace fiat currency because bitcoin is only used as an alternative currency to make payments when fiat currency experiences inflation because bitcoin is guaranteed to be resistant to inflation because of its limited supply, as we have seen in El Salvador though currently their government has legalized bitcoin as a legal tender in the country but they still use fiat money as the mainstream currency.

Elsalvador is a country that truly exemplifies what bitcoin adoption has done. Fiat and Bitcoin coexist to be legal tender. Even the president of El Salvador will establish a bitcoin city where all transactions are carried out using bitcoin as the main payment. it's a big step that will make bitcoin adoption even crazier. Bitcoin is the most valuable digital currency and is able to change the way transactions and transactions are carried out are also transparent.

In Elsalvador, the government even distributes a number of bitcoins to educate all people to be able to use it, of course this is a socialization step so that all elements of society become familiar with using bitcoin to transact in that country. and if elsalvador succeeds, then this can set an example for other countries, that fiat and bitcoin can be used side by side, so that the community can judge and the government makes rules so that the community obeys

[Peanutswar]

Currently the price of the transaction of is 0.10-0.30$ just approximately a 2-7 satoshi only most of the reasons becomes congested to the each of that transactions made by the traders, investors and etc who would like to have their bitcoin transfer, sell or hold. Bitcoin today can be used to make transactions to different establishments, bitcoin cannot replace the fiat currency because it's decentralized and a fiat currency is regulated or must have to a country well anything can happen in the future.

[TheUltraElite]

however I don't imagine that it is bitcoin that will bring down fiat off of its high position.

True, both system have their own pros and cons and one does not topple the other. Moreover, being comfortable and not paranoid about your money is important too, fiat has already made it's place in the people with that and it is not possible to move people from that group to crypto by own awareness spreading.

While bitcoin was made as an alternative to fiat, it is already serving its purpose. Beyond that, speculative markets have developed to allow risk takers to trade on its price changes and that is a different topic. We also have Forex, but does that change the objective of fiat? No.

I agree. It is not as easy as it sounds. It is true that cryptocurrencies are the future. But the world still needs to accept the potential of Bitcoin and other cryptocurrencies.

The world is a rock, the people of this world have already seen how crypto can be used but it is their choice and that is for them to decide which one to use. You cannot force someone to use something because you like it.

[AakZaki]

Regarding the problem of delays and long transaction confirmations, it has been resolved by using the lightning bitcoin network and transactions are carried out quickly and at lower costs. Bitcoin is well developed and faster.
All currencies are not perfect, each has its advantages and disadvantages. Bitcoin is currently an optional payment that can be chosen in addition to using Fiat. Bitcoin is the digital asset of the future with more revolutionary technology. Bitcoin is the main reference for developing better ways of transacting.

[PX-Z]

Regarding the problem of delays and long transaction confirmations, it has been resolved by using the lightning bitcoin network and transactions are carried out quickly and at lower costs.

No, not yet, I know there lots of solution will be proposed in the future to improve the technology of the lightning network we have today.

Also, making lightning network more user-friendly so more users understand easier it and do the transactions there instead on the common wallets.

[TheUltraElite]

I think that Bitcoin is quite difficult to be used as a means of payment because the transaction fees are too high so that it will be detrimental to its users. In general, people use bitcoin as trading and investment in order to get huge profits. The bitcoin transaction fee should have been reduced so that I can use bitcoin as a means of payment in various online shops that accept bitcoin payments.

Transaction fees are a transient phenomenon. You will find better conditions to transact in future. That does not determine the future and neither does it indicate a long term trend.

The fact that Bitcoin is used to make profit off the market movements is a side effect of the situation and not the main thing. True that Bitcoin being accepted by merchants is lower than that needed for a overall high use. There is a gradual rise but we should try to gather more Bitcoins in the meantime. At that time the Lightning Network system will be adopted as well. It has been well documented that that LN can be used by merchants to allow quick transactions without having to worry about delays.