After all these years

[Fivestar4everMVP]

Xrp and chain link or which ever other coin partnering with banks completely defeats the sole purpose of what decentralization means and stands for , when Bitcoin was created or was in development, satoshi never envisioned that Bitcoin will one day partner with banks and other government owned and operated payment systems, if satoshi had any of such plans in his mind, he probably would have included it in the Bitcoin whitepaper.

Bitcoin was created to become a completely decentralized payment system standing on its own with no intermediaries, third parties what so ever , and Bitcoin , even though today is seen as more of an asset than a currency that should be spent on day to day expenditures, will still fulfill that purpose of becoming a completely decentralized payment option for people, without the banks, banks aren't needed ,they were never needed .

[1714720779]

1714720779

[1714720779]

1714720779

[1714720779]

1714720779

[traderethereum]

Why should you be sad to see XRP partners with banks to make international transactions while bitcoin doesn't?
It would be better because I can keep the bitcoins for long term investment and use XRP for other things.
But I also don't use XRP for international transactions because I still don't need to use crypto for transactions like when I use fiat.
It all depends on the readiness of the government, banks and business actors because if only we as bitcoin users feel ready while they are not ready, it will also be of no use.
So for now, it's better for us to focus on making bitcoin only as an asset while waiting for a government and bank decision.

[Tony116]

Each coin is created with a different purpose and a partnership between XRP or Chainlink with banks is not an achievement to be praised or boasted about. Because they completely go against the decentralization concepts that bitcoin has created for us and it is lame to compare bitcoin to those shitcoins.

The path for bitcoin to become a payment method is increasingly remote, but if only to achieve that goal must cooperate with banks or become centralized, I am completely against it. Personally, I never expected bitcoin to lose its decentralization.

[yudi09]

-snip-

XRP for example and few others are partnering with banks for international transactions, if seems that these projects are 100 times closer to been a daily payment system than Bitcoin and this saddens me.

-snip-

IMO, this is the same as questioning why bitcoin is so difficult to move at a time when bitcoin adoption rates continue to increase.

Bitcoin will always be difficult for them to accept as a means of payment in this case the government and banks because they cannot control the decentralized nature of bitcoin. In contrast to XRP and other altcoins which are easily accepted because of their different nature from bitcoin. As some members here have pointed out, comparing bitcoin to XRP and other altcoins really isn't ideal.
So, you don't need to worry and you don't need to be sad if bitcoin is not accepted as a payment system.

[Inwestour]

After all these years Bitcoin still remains an investment rather than a daily payment system, will there ever come a day where Bitcoin will be use generally as a paying system instead of what we are seeing right now?

XRP for example and few others are partnering with banks for international transactions, if seems that these projects are 100 times closer to been a daily payment system than Bitcoin and this saddens me.

I am feeling like the majority of people are still going to prefer to spend more money on transaction fee through payment solutions that involves banks, locally and internationally, I seems like Bitcoin transaction are going to keep happening around Bitcoin OGs and those who are into Bitcoin only.

Do you think that Bitcoin been decentralised will draw it back from becoming something like what XRP and Chain Link are achieving right now? Should we just for once shut up about Bitcoin becoming a well acknowledged payment solution and focus on it becoming only asset?

We need to see in which direction Bitcoin will go when its volatility decreases significantly. If it happens that bitcoin reaches some price level at which it becomes too large, then it will no longer be able to repeat the same cycles with the same growth as it was in previous years, and in this case there will be no point in using bitcoin as an investment, it perhaps become a store of value, some kind of inflation hedge, and perhaps at that time it could be used as means of payment if most countries accept it as legal tender.

More time is needed to understand which development path Bitcoin will take. And as long as it is a good investment tool, that is how it will be used, there is nothing wrong with that.

[bakasabo]

I fully understand what OP is worries about and share his idea. It might turn that people will see in cryptocurrency not only technology, possibility or chance, but only financial side (buy low sell high - in short). That we will never use crypto as it was intentionally created for, but rather only resell in to get profit. That imo is what pauses mass adoption. No one wants to use crypto worldwide. All we care is price to grow, get some profit and immediatelly turn that into fiat.

[Smack That Ace]

I fully understand what OP is worries about and share his idea. It might turn that people will see in cryptocurrency not only technology, possibility or chance, but only financial side (buy low sell high - in short). That we will never use crypto as it was intentionally created for, but rather only resell in to get profit. That imo is what pauses mass adoption. No one wants to use crypto worldwide. All we care is price to grow, get some profit and immediatelly turn that into fiat.

But we also can't blame people when they focus only on profits and ignore the factors that make bitcoin more popular. Even you and I both consider bitcoin an investment rather than a currency, how can we expect someone to sacrifice their interests to support the community for nothing?
While bitcoin cannot become a currency, I don't see anything wrong with it as an investment. It remains a decentralized asset that still benefits everyone.

[flyingcarpet]

I fully understand what OP is worries about and share his idea. It might turn that people will see in cryptocurrency not only technology, possibility or chance, but only financial side (buy low sell high - in short). That we will never use crypto as it was intentionally created for, but rather only resell in to get profit. That imo is what pauses mass adoption. No one wants to use crypto worldwide. All we care is price to grow, get some profit and immediatelly turn that into fiat.

But we also can't blame people when they focus only on profits and ignore the factors that make bitcoin more popular. Even you and I both consider bitcoin an investment rather than a currency, how can we expect someone to sacrifice their interests to support the community for nothing?
While bitcoin cannot become a currency, I don't see anything wrong with it as an investment. It remains a decentralized asset that still benefits everyone.

Some things take a long time to happen. We are talking about possibilities, there is a possibility that what is said will come true. Generally speaking, Bitcoin is currently traded for profit. Few people care about the technology behind it. However, despite this being the case, even the decentralization that Bitcoin brings to us and the freedom to transfer without being dependent on the bank is a big improvement.

We all understand what the OP is worried about and wants to happen. Today, we can see that even those who want to see Bitcoin as an investment tool and make a profit benefit from the innovations brought by Bitcoin. I can't criticize anyone for their perspective on Bitcoin.

[Lorence.xD]

The role of Bitcoin as method of payment versus a tool of investment has been a subject of discussion with varying viewpoints. Nevertheless Bitcoin is gaining more acceptance as investment assert. The general public perceives it a precious asset with potential to significantly impact their future financial status, if held for long term. The historical track record of 15 years supports such anticipated future scenarios of Bitcoin.

As far as XRP is concerned, it is mostly used for faster and cheaper banking transactions. This is why it is getting more partnerships with institutions and it is not generally considered a threat to current fiat based monetary system.

And that's the reason why most of the banks welcomed XRP as they are not a threat to fiat money. It would be hard to use Bitcoin as a payment to any transactions due to it's volatility. Imagine you bought something that cost $100 with Bitcoin then suddenly Bitcoin's value decreased drastically or increased. Some maybe would say it would be an advantage to the receiver as they can hold a lot of Bitcoin but only in a long run. Businesses needed funds so if those payments are still considered investment, what would be the capital to keep the business running right? It's just too complicated. It's volatility has been used as advantage for investment instead than using as a payment tool.

[Queentoshi]

After all these years Bitcoin still remains an investment rather than a daily payment system, will there ever come a day where Bitcoin will be use generally as a paying system instead of what we are seeing right now?

After all these years, we are still waiting for bitcoins to have a legal status and be accepted by the majority. You know it has not yet gotten there. When that time comes, and bitcoins become accepted, it becoming a medium for daily payment will no longer be in question. Investment is the mindset some people have for it at the moment, that is why they do not use it for transactions, but at a time, it will grow into both a means to transact with widely and something to invest in.

I imagine a future where bitcoins will be used as payment for large transactions, not for little payments.

[Distinctin]

Like it or not and many people do not accept this fact but I do not believe that bitcoin can become a legitimate payment method in the world due to its decentralized nature. Personally, I see bitcoin as an asset and will likely be a store of wealth in the future if it becomes more and more popular.
While bitcoin has not been able to become a P2P payment method for the purposes Satoshi created it, I don't see anything too bad about bitcoin as an asset. It still brings many use cases, many utilities for us.

Precisely. I believe its volatility becomes a big barrier from becoming a global payment system. It’s value is never fixed and it always fluctuates, so it’s really hard to make it especially as a legal tender. But despite of that, I simply love the idea that bitcoin will remain as a valuable asset or investment. That way, it will continue to improve people’s lives through taking calculated risks while investing into bitcoin. And at some point, will continue to frustrate people most particularly those who keep investing to satisfy their own greed and financial desires.

[komisariatku]

Do you think that Bitcoin been decentralised will draw it back from becoming something like what XRP and Chain Link are achieving right now? Should we just for once shut up about Bitcoin becoming a well acknowledged payment solution and focus on it becoming only asset?

One of the things that hinders the use of bitcoin as a means of payment is probably its decentralization. I don't think countries want to take the risk of using a currency they can't regulate, besides that the fluctuation in the price of bitcoin is also very high making it difficult to convert the value of an item into bitcoin.

But, I believe that bitcoin will definitely become a currency and can be used for payments, it is only a matter of time until the bitcoin community develops and bitcoin will be effective for cross-border transactions.

Maybe we just have to wait until bitcoin will become the world's payment currency, maybe we need to wait another 10 or 20 years. I hope it will happen sooner

[Frankolala]

Bitcoin potential has made it far beyond payment method. If you look at it very well,weather if nobody uses bitcoin as a payment system,it doesn't change anything,what matters is that as long as it keeps it value and volatile nature. The government is another challenge that is depriving using the use bitcoin as a payment system to increase because it is illegal in some countries.

XPR can be use for payment because it doesn't have any value and nobody will love to hold it for a long term,nobody cares that much about altcoins. Also with fiat,we can't do without fiat since it is the primary currency for payment. We all have different purposes for buying bitcoin and this is why it wouldn't be possible for the rate at which bitcoins serves as an alternative payment method to increase in the nearest future.

[Faisal2202]

After all these years Bitcoin still remains an investment rather than a daily payment system, will there ever come a day where Bitcoin will be use generally as a paying system instead of what we are seeing right now?

People try to adopt things that are not so costly, and banks also adopt things that would remain under their control, which means centralization. And we both know BTC is proving none of them. For example, a small transaction will cost around 0.5 to 3 dollars. It rarely costs us 0.5 to 0.9 dollars because most of the time a single transaction, whether it is for a product or not, is $3, but the fee will be around $1. This means the transaction fee is the main thing that is preventing merchants from using it for payment methods. But let me tell you, if the transaction fee becomes lower, then BTC will be the most used coin for such purposes.

I think that day will come when the cost of transaction fees will be lower and more affordable for small merchants.

[Ndabagi01]

After all these years Bitcoin still remains an investment rather than a daily payment system, will there ever come a day where Bitcoin will be use generally as a paying system instead of what we are seeing right now?

This is difficult to anticipate or guarantee because many people join bitcoin on a daily basis with the purpose of investing rather than using it as a payment system.  Because of bitcoin's unpredictable nature, people prefer to invest in it rather than use it as a payment system for buying and selling services on a regular basis. I don't blame such people because they are attempting to decrease the potential of risk being taken.

Do you think that Bitcoin been decentralised will draw it back from becoming something like what XRP and Chain Link are achieving right now? Should we just for once shut up about Bitcoin becoming a well acknowledged payment solution and focus on it becoming only asset?

Satoshi developed Bitcoin to be primarily used for payment reasons as an alternative to the centralised money we use. The investment part makes it a more viable choice with lower risk than the payment option. Even with what XRP and Chain Link are accomplishing right now, they still have drawbacks.

[Raflesia]

After all these years Bitcoin still remains an investment rather than a daily payment system, will there ever come a day where Bitcoin will be use generally as a paying system instead of what we are seeing right now?

The initial concept is that we still have to know that bitcoin is only an option and indeed it is already happening even though only a small percentage are doing it because basically expecting something like this globally does not mean it cannot be done, it is just very difficult to do.
There are still many people who don't even know about bitcoin and right now we are just a commodity but of course that's good.
I don't really care about whether it's going to be global or not but as long as the regulation on bitcoin is still understandable I think it's still going to be very fine and I'm comfortable with something like this. there's no need to ensure or force them as legal tender globally because it's a hard job to do and forcing it is just going to make it harder for us as bitcoin users because of the regulations.

[GeorgeJohn]

After all these years Bitcoin still remains an investment rather than a daily payment system, will there ever come a day where Bitcoin will be use generally as a paying system instead of what we are seeing right now?

Bitcoin is something we don't predict when the value will fade and when the value will be recognised generally, this question has been a general question to everyone who is into cryptocurrency and mostly bitcoin, what I want you to know is that Bitcoin is a currency that government always kicked against and before it can be payable system across the world that means world Bank will recognised it adoption, right now bitcoin can be use as a system of payment because of your options in bitcoin, and secondly individual kind of payments, I can establish a business and I will decide the payment system, I can decide to make payment with bitcoin or to make payment with fiat currency, its basically my choice, but aspect of government making bitcoin a payment option, it will take time that means bitcoin will be a legal tender across the nations.

[Mr.suevie]

Do you really think Bitcoin can work as a payment system. There are too many limitations with Bitcoin and that is why Bitcoin LN was created. I am happy the way it is now, I happy that people think Bitcoin as a investment opportunity. Since it is now considered as an Investment that is the reason Institutional investors & big financial institution are going after it. Bitcoin is the only investment through which anyone can gain financial freedom.

Indeed the lightning network is a ground breaking discovered and I feel bitcoin been used as a global currency can be achieved as we have bitcoin ATM machine already and so many other initiatives that can help this full adoption and I feel it's time that has the final say because the whole adoption can't happen suddenly, it's a financial evolution and slowly it's going to gain ground.

[coolcoinz]

XRP? Really? Are you really trying to compare apples to oranges here and claiming oranges and claiming apples are better because they have more uses?

XRP is a centralized and premined shitcoin. It's been partnering with companies since 2013. Do you remember times when Garlinghouse wasn't even the CEO? They had partnerships already and everything was going so slow for them that even dumping their own premine on investors wasn't helping them.

[Viscore]

I guess as long as there is volatility with bitcoin, I don’t think it will ever become a legally payment system all over the world. Although its designed to become a currency, but it’s not bad after all having bitcoin as a precious asset or investment, isn’t it? The fact that bitcoin still provides great opportunities for us to be financially free not just today but eventually in the future, well I guess it’s utility case is more than superb than seeing it as a currency. Bitcoin continues to change lives, especially for those who knows how to maximize their risk with bitcoin.