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Author Topic: The beauty of Bitcoin is in use case.  (Read 608 times)
Texac
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July 30, 2023, 02:50:14 PM
 #41


Adoption and actual use cases of bitcoin are expected to increase day by day in a gradual manner. That would surely make bitcoin even more likely to become the adopted global payment tender even if it is still just an alternative option for the average person. If European countries have legalized bitcoin as a legal means of payment, then of course the positive impact will be increased adoption in various countries both in Asia and America.

I'm sure bitcoin adoption and actual use cases will continue to grow, but may never be able to record everything as some people are still in hiding due to bans or restrictions. Bitcoin has never differentiated fees costs even if we want to send it to different countries, the transaction fees will remain the same based on the needs of each user.

Some countries are already accepting it as legal tender, very soon other countries will start accepting it also and I doubt if European countries will want to make it legal tender, a lot of things will be considered and I think Bitcoin is more interesting when a larger percentage is decentralized, and over time a lot of people are embracing bitcoin, and as you said other people are still hiding due to restriction but very soon it will get to the point of people no longer hid and in my region, for some time people see individuals involved in bitcoin has scammers but with the awareness, I think people are already getting the clear picture of everything that bitcoin is not also Ponzi.

Apart from El Salvador and Central South Africa, two 3rd world countries, no other country accepts bitcoin as a legal tender.  so I wouldn't believe that European countries or countries with developed economies would accept bitcoin as a legal tender.  bitcoin will certainly soon be accepted on a global level but it will likely just be a commodity or an asset.  I don't spread Fuds but this is what I predict for bitcoin futures.   while the OP's news is very positive about accepting bitcoin, accepting it as legal tender is a much larger-scale issue.

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July 30, 2023, 05:14:35 PM
 #42

The more businesses begin to integrate crypto payment in their daily  activities, the more we see real progress regarding the entire concept.

As of today, over 60,000 electric vehicle charging stations now accept Bitcoin across Europe,
thanks to Lightening Network (source: https://mycryptowallet.com.au/news/bitcoin/bitcoin-now-accepted-at-60000-ev-charging-stations-across-europe/). Many businesses are also joining this trend as they realise the advantages offered by this amazing technology. Gradually,  we will see even deeper penetration of Bitcoin and cryptocurrency at large.
I believe we will still have a lot of time for that to spread to the masses, a lot of businesses won't see Bitcoin as a payment method just yet, the main reason for that is probably the regulations and no acceptance from the authorities within major countries all around the world, they don't want Bitcoin and cryptocurrencies to be widely used by their citizens as that will become a threat to the traditional financial institutions and they would never want that to happen.

So, they won't allow big businesses and stores to accept Bitcoin as a payment as that will make more people start using Bitcoin instead of fiat to cut down fees and other expenses and that will make them lose a lot of control over the finances and financial activities of their citizens.

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July 30, 2023, 09:50:10 PM
 #43

The more businesses begin to integrate crypto payment in their daily  activities, the more we see real progress regarding the entire concept.

As of today, over 60,000 electric vehicle charging stations now accept Bitcoin across Europe,
thanks to Lightening Network (source: https://mycryptowallet.com.au/news/bitcoin/bitcoin-now-accepted-at-60000-ev-charging-stations-across-europe/). Many businesses are also joining this trend as they realise the advantages offered by this amazing technology. Gradually,  we will see even deeper penetration of Bitcoin and cryptocurrency at large.
I believe we will still have a lot of time for that to spread to the masses, a lot of businesses won't see Bitcoin as a payment method just yet, the main reason for that is probably the regulations and no acceptance from the authorities within major countries all around the world, they don't want Bitcoin and cryptocurrencies to be widely used by their citizens as that will become a threat to the traditional financial institutions and they would never want that to happen.

So, they won't allow big businesses and stores to accept Bitcoin as a payment as that will make more people start using Bitcoin instead of fiat to cut down fees and other expenses and that will make them lose a lot of control over the finances and financial activities of their citizens.

I also think that regulation is the greatest challenge of cryptocurrency.  The acceptance of a country is the most difficult hurdle cryptocurrency has to face but once Bitcoin is able to surpass this hurdle and get accepted by major countries, I believe there will be an adoption explosion where Bitcoin will be trendy and get accepted everywhere.  And for that to happen, Bitcoin should establish its real-life use case and put pressure to be demanded by the majority of the population so that the governmetn will pay attention and be inclined to accept it due to the possible benefits it can gain from BTC and its technology.


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July 30, 2023, 11:24:22 PM
 #44

The more businesses begin to integrate crypto payment in their daily  activities, the more we see real progress regarding the entire concept.

As of today, over 60,000 electric vehicle charging stations now accept Bitcoin across Europe,
thanks to Lightening Network (source: https://mycryptowallet.com.au/news/bitcoin/bitcoin-now-accepted-at-60000-ev-charging-stations-across-europe/). Many businesses are also joining this trend as they realise the advantages offered by this amazing technology. Gradually,  we will see even deeper penetration of Bitcoin and cryptocurrency at large.
I believe we will still have a lot of time for that to spread to the masses, a lot of businesses won't see Bitcoin as a payment method just yet, the main reason for that is probably the regulations and no acceptance from the authorities within major countries all around the world, they don't want Bitcoin and cryptocurrencies to be widely used by their citizens as that will become a threat to the traditional financial institutions and they would never want that to happen.

So, they won't allow big businesses and stores to accept Bitcoin as a payment as that will make more people start using Bitcoin instead of fiat to cut down fees and other expenses and that will make them lose a lot of control over the finances and financial activities of their citizens.

I also think that regulation is the greatest challenge of cryptocurrency.  The acceptance of a country is the most difficult hurdle cryptocurrency has to face but once Bitcoin is able to surpass this hurdle and get accepted by major countries, I believe there will be an adoption explosion where Bitcoin will be trendy and get accepted everywhere.  And for that to happen, Bitcoin should establish its real-life use case and put pressure to be demanded by the majority of the population so that the governmetn will pay attention and be inclined to accept it due to the possible benefits it can gain from BTC and its technology.


Even now we were able to address better access and acceptance of bitcoin from first world countries. The same hadn't made any big impact over the rest of the world or upon the growing countries. This way the acceptance of bitcoin from the major countries isn't going to have big impact. Through its use case it is possible to reach majority of the population. The goodness relies on bitcoin's multiple usage and the growth relies on its usage happening with the bottom level of people who doesn't have banking account. To this we need more time and it isn't an easy thing.

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July 31, 2023, 05:01:21 AM
 #45

As of today, over 60,000 electric vehicle charging stations now accept Bitcoin across Europe,
60,000 is not an actual number that is operational and effectively used, but it is likely to reach this number in the next few years. Of course this is good news, bitcoin is getting closer to massive use in the world of global payments

In my opinion, when the world is getting more advanced, transportation is getting easier, it requires payments that are accepted in every country. One of the many currencies owned around the world is bitcoin. So I think using bitcoin as currency for global payments is the solution of the future. Bitcoin is increasingly trusted by many people. It is only a matter of time until bitcoin will be widely used and accepted around the world. I think we hope that will happen
Think of it mostly like "this is the number of places that "can" accept it" type of deal. That means that as high as 60 thousand of them could accept it if they do the update and actually start accepting it.

However, the point is that we are getting more adoption is true, that much is guaranteed, we have more adoption today than last year, and last year we had more than previous year, that just keeps growing and growing for the long term and should be a source of joy for us without a doubt. I know that not many people think that we are growing by just looking at the price, but price is not the only thing that will make it that great. I hope that people will realize that soon and could do something about it as well.

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July 31, 2023, 07:12:48 AM
 #46

Apart from El Salvador and Central South Africa, two 3rd world countries, no other country accepts bitcoin as a legal tender.  so I wouldn't believe that European countries or countries with developed economies would accept bitcoin as a legal tender.  bitcoin will certainly soon be accepted on a global level but it will likely just be a commodity or an asset.  I don't spread Fuds but this is what I predict for bitcoin futures.   while the OP's news is very positive about accepting bitcoin, accepting it as legal tender is a much larger-scale issue.
         I don't agree with you. At the moment, in many European countries you can see the moment that sellers accept crypto as a means of payment. You would have to go to the right topic to see this.
         Times are changing and technology is not standing still. More and more entrepreneurs are considering this option of accepting payments. In a few years, their number will increase even more.

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July 31, 2023, 09:38:16 AM
 #47

I also think that regulation is the greatest challenge of cryptocurrency.  The acceptance of a country is the most difficult hurdle cryptocurrency has to face but once Bitcoin is able to surpass this hurdle and get accepted by major countries, I believe there will be an adoption explosion where Bitcoin will be trendy and get accepted everywhere.  And for that to happen, Bitcoin should establish its real-life use case and put pressure to be demanded by the majority of the population so that the governmetn will pay attention and be inclined to accept it due to the possible benefits it can gain from BTC and its technology.
I will be the one who against of regulation toward Bitcoin because it will make the government able to control every citizen Bitcoin as they will create their own exchange. Bitcoin don't need to be regulated especially accepted as legal tender, just make it in grey area and commit if they will never ban Bitcoin, so it will make people who want to own Bitcoin don't get discouraged. When Bitcoin isn't regulated, it will give a choice for Bitcoin holders' to protect their privacy.

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July 31, 2023, 10:42:22 AM
 #48

The beauty of Bitcoin lies not only in its use case as a decentralized digital currency but also in its potential for global transactions. Being able to send Bitcoin worldwide as a payment method, similar to how we send money through the banking system, opens up new possibilities for cross-border transactions and financial inclusion. Additionally, businesses accepting Bitcoin as a payment method can also contribute to its widespread adoption and utility.
Bitcoin can be used borderless and you can send it to a receiving address and don't have to care where is the owner of that address is living at. Having bitcoin, using good fee and your transaction will be confirmed by miners and will be transacted to the receiver.

It is globally transactable and its transactions are irreversible so you will have never be charged back. When you or any receiver get bitcoin from a confirmed transaction, it is done. You have bitcoin and it is safe in your wallet.

Bitcoin transactions are not seamlessly, not perfect if you use low fee rate but irreversible, no censorship are very good for safe transactions.
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July 31, 2023, 01:01:15 PM
 #49

Apart from El Salvador and Central South Africa, two 3rd world countries, no other country accepts bitcoin as a legal tender.  so I wouldn't believe that European countries or countries with developed economies would accept bitcoin as a legal tender.  bitcoin will certainly soon be accepted on a global level but it will likely just be a commodity or an asset.  I don't spread Fuds but this is what I predict for bitcoin futures.   while the OP's news is very positive about accepting bitcoin, accepting it as legal tender is a much larger-scale issue.
         I don't agree with you. At the moment, in many European countries you can see the moment that sellers accept crypto as a means of payment. You would have to go to the right topic to see this.
         Times are changing and technology is not standing still. More and more entrepreneurs are considering this option of accepting payments. In a few years, their number will increase even more.

So tell me, which European country has or is about to claim to accept bitcoin as a legal tender method like El Salvador did?  Not only in Europe, in some countries where bitcoin is legalized as a commodity, there are still some shops that use bitcoin as a means of payment. but is that number a lot? Iis it common? Or are just a few shops doing it out of fear of government regulation?  I don't even see any stores that accept bitcoin payments, even though my country doesn't ban bitcoins.

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August 01, 2023, 12:02:04 PM
 #50

I also think that regulation is the greatest challenge of cryptocurrency.  The acceptance of a country is the most difficult hurdle cryptocurrency has to face but once Bitcoin is able to surpass this hurdle and get accepted by major countries, I believe there will be an adoption explosion where Bitcoin will be trendy and get accepted everywhere.  And for that to happen, Bitcoin should establish its real-life use case and put pressure to be demanded by the majority of the population so that the governmetn will pay attention and be inclined to accept it due to the possible benefits it can gain from BTC and its technology.
I will be the one who against of regulation toward Bitcoin because it will make the government able to control every citizen Bitcoin as they will create their own exchange. Bitcoin don't need to be regulated especially accepted as legal tender, just make it in grey area and commit if they will never ban Bitcoin, so it will make people who want to own Bitcoin don't get discouraged. When Bitcoin isn't regulated, it will give a choice for Bitcoin holders' to protect their privacy.
Regulation is not control. They could of course put some laws and rules on how people could use it, but that doesn't change the fact that you are still free to do whatever. They are not going to start selling your coin without you want to, or start buying bitcoin before you want to. They can make it illegal for you to do some stuff, but not make you do stuff, there is a big difference between them.

I still think a local government exchange is not needed, that should not exist, but as long as it goes well enough then we are going to be doing well enough as well. That should be the key factor here at this moment. I know that it will be something to care about, but in order to do it well, you need to be able to use it according to your laws.

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August 01, 2023, 12:07:39 PM
 #51

It's amazing to witness the growing acceptance of Bitcoin in various industries. The integration of Bitcoin into electric vehicle charging stations is a perfect example of how cryptocurrencies can offer practical solutions and improve our overall user experience. This trend is definitely a sign of progress!
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August 01, 2023, 12:16:03 PM
Merited by fillippone (1)
 #52

Apart from El Salvador and Central South Africa, two 3rd world countries, no other country accepts bitcoin as a legal tender.  so I wouldn't believe that European countries or countries with developed economies would accept bitcoin as a legal tender.  bitcoin will certainly soon be accepted on a global level but it will likely just be a commodity or an asset.  I don't spread Fuds but this is what I predict for bitcoin futures.   while the OP's news is very positive about accepting bitcoin, accepting it as legal tender is a much larger-scale issue.
        I don't agree with you. At the moment, in many European countries you can see the moment that sellers accept crypto as a means of payment. You would have to go to the right topic to see this.
         Times are changing and technology is not standing still. More and more entrepreneurs are considering this option of accepting payments. In a few years, their number will increase even more.
Currently, even though in a country Bitcoin has not yet become a legal tender, still, more and more businesses are starting to accept payments with bitcoin. And I believe that in Europe there are even many luxury hotels that also accept payments with crypto including bitcoin in it. Because even in Arab countries like Bahrain, hotels have started to appear that accept payments with Bitcoin. So it should be the same in Europe. But usually those who accept crypto payments are luxury hotels where the visitors are mostly from the upper class.

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August 01, 2023, 01:40:18 PM
 #53

The more businesses begin to integrate crypto payment in their daily  activities, the more we see real progress regarding the entire concept.
(.....)
This is the goal of Bitcoin. Global adoption. Because right now, it's just showing that we are still in early days of Bitcoin, as you can see, it's still not famous but it is already have real world use case which solving a lot of problem in financial world.
So for me, everyday Bitcoin is growing and being adopt by many.

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August 01, 2023, 01:48:47 PM
 #54

The more businesses begin to integrate crypto payment in their daily  activities, the more we see real progress regarding the entire concept.
(.....)
This is the goal of Bitcoin. Global adoption. Because right now, it's just showing that we are still in early days of Bitcoin, as you can see, it's still not famous but it is already have real world use case which solving a lot of problem in financial world.
So for me, everyday Bitcoin is growing and being adopt by many.
this is what was expected from the beginning bitcoin was created, namely to switch from a centralized system to a decentralized one, which has several advantages to support increasingly dense human activities. however, the journey is not that easy to reach the goal, until now it is still in the process of getting mass adoption, fortunately we are already familiar with it, even in the long term, when the circumstances and conditions are suitable then bitcoin will reach its goal

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August 01, 2023, 02:11:44 PM
Last edit: August 01, 2023, 03:33:37 PM by Mpamaegbu
 #55

OP picked the acceptability of Bitcoin as a means of payment and tagged it its beauty. Nah, I don't think that's it. A bunch of coins out there can do that and even more than what Bitcoin offers. Come to think of it, we can't even stake Bitcoin to earn like we do others. Anyway, for me what makes Bitcoin beautiful isn't it's payment option. It's its decentralized nature. If Bitcoin weren't decentralized, those government officials and economists who hated Satoshi's guts in creating it would've crippled it long ago in it's formative years before anyone said Jack. In Africa, especially in countries where the government is anti-Bitcoin, they would've confiscated it. Like what we've in my country. These officials don't even understand how to go about crypto related issues and so at worse they can only ban bank transactions of it. It's thanks to decentralization.

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August 01, 2023, 02:56:38 PM
 #56

The more businesses begin to integrate crypto payment in their daily  activities, the more we see real progress regarding the entire concept.
(.....)
This is the goal of Bitcoin. Global adoption. Because right now, it's just showing that we are still in early days of Bitcoin, as you can see, it's still not famous but it is already have real world use case which solving a lot of problem in financial world.
So for me, everyday Bitcoin is growing and being adopt by many.

Indeed, the beauty of bitcoin is in its use case and adoption. I read one article that seems like a revelation of bitcoin. Step by step how bitcoin will unfold and dominate the economy. Although I was not initially interested in the article which looked like a fantasy but at a time I began to buy into their idea.
Using the electric car Op mentioned and having an auto pilot taxi means that fiat system may not work well in this system for very long. If bitcoin is used, atleast the confirmation and every other activities transaction processed will be greatly automated.
Bitcoin actually has a great future than buying and selling.

R


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August 01, 2023, 02:58:55 PM
 #57

Bitcoin is currently gaining widespread acceptance across the globe. We are now seeing the use of Bitcoin in different places compared to the use of cash. Some countries are accepting Bitcoin as their legal document, while some countries are planning to consider Bitcoin as their optional currency, which means that Bitcoin has now gained a lot of trust among people. We may offer Bitcoin transactions in more places in the future to facilitate transactions. We look forward to a time in the future when we will be able to meet all our needs through Bitcoin.

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August 01, 2023, 03:03:52 PM
 #58

Indeed, the beauty of bitcoin is in its use case and adoption. I read one article that seems like a revelation of bitcoin. Step by step how bitcoin will unfold and dominate the economy. Although I was not initially interested in the article which looked like a fantasy but at a time I began to buy into their idea.
I do not discuss about the egg and chicken story but let's say a fact.

Bitcoin won't have good adoption IF (big IF) it does not have good technology, security and use cases. If security is weak, attractive use cases will not be enough to convince many people to use Bitcoin so its adoption will be small.

Bitcoin adoption in reality is very big and has a very sharply curve that is made up of multiple factors listed above plus is high decentralization, no censorship, irreversibility ...

To compare for more easily understandable, you have been in Bitcointalk and cryptocurrency market long enough to know that altcoins have many fantasy use cases but none of them get same adoption like Bitcoin.

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August 01, 2023, 05:26:56 PM
 #59

I am not sure what the number says because there seems some conflict between the operational charging station and experimental charging station. I just hope that this idea gets fully implemented because it does sound very futuristic and possible to happen soon. If they do install Bitcoin wallets on every charging station then man it's gonna look nice and its gonna work best! Good for the Bitcoin and Bitcoiners like us. Imagine the number of transactions that will happen on the road everyday.

Yes obviously if we look even further then it could also house the Bitcoin ATM so that transactions related to fiat-BTC can also increase and they will start to co-exist! I don't think then we will have any regulatory issues along the way if it works and people start responding positively towards it.
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August 01, 2023, 06:04:03 PM
 #60

The reality is that for Bitcoin to become a ubiquitous technology and means of payment, it needs to be integrated into applications and accepted by various companies and institutions in the market. The development and actual adoption of Bitcoin plays an important role in determining its growth rate and spread.

Having a variety of applications and uses of Bitcoin can facilitate the fulfillment of user needs and the creation of real value. For example, the integration of Bitcoin into online payment applications, retail points, financial services and other areas can help expand its use. The spread of Bitcoin, its integration into real-life applications and uses, along with adoption from companies and institutions, is critical and will play an important role in defining the future. of Bitcoin.

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