After all these years

[fruktik]

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?

Yes, today the scalability of integrating Bitcoin as a payment system is not so great, but there is still a trend. The fact remains.
Most entrepreneurs and businessmen are still afraid to accept crypto due to high volatility. They do not have confidence in price stability and this scares them away. There is no stability at the moment. It is easier to use StableCoins, but there is no decentralization, which is contrary to the basic principles of cryptocurrencies.
I believe that the moment will come when many people will understand the benefits and value. They will use everywhere payment and settlements in this way, and not only in the form of assets for investment, speculative operations.

[isaac_clarke22]

~

Will there ever come a day? Nah, as long as we have governments trying to regulate people's money, there would be always something to regulate and Bitcoin isn't up for regulation unless used through centralized platforms like CEX or any custodial wallets.

XRP are partnering with banks since they had someone to contact unlike...... well with Bitcoin. It isn't drawing back Bitcoin though.

I am okay with not all establishment would adopt Bitcoin though.

[armanda90]

I guess people most frequently use is the XRP because it is reliable and at the same time it has a low transaction fee We know how does Bitcoin works when it's congested and fees come over with the 0.15$ to 20$ real quick because of the demand but with the xrp still less than a dollar, so possible reason they adopt this than the bitcoin, but the third party or the organization itself does not limit the use of mode of payment or transaction with XRP still they are supporting the use of the bitcoin, their target is convenient so they only give people an option with it.

Based on lower fees transaction actually XRP is better but its not promising as investment assets or payment currency transaction with up and down speculation price. Although Bitcoin with highest fees transaction is better than XRP without get risk price drop suddenly after adapting as payment currency transaction and we need longer time for selling XRP in huge amount. For smaller business is not matter when adapting XRP as payment currency transaction because spent around 0.15$ for fees, but how possibility with huge amount and too risk when using XRP as less risk with fees but have get lower price when XRP sold. For businessman they are not worrying about how much have spent fees but they need price stable with first time transaction.

[fruktik]

Will there ever come a day? Nah, as long as we have governments trying to regulate people's money, there would be always something to regulate and Bitcoin isn't up for regulation unless used through centralized platforms like CEX or any custodial wallets.

XRP are partnering with banks since they had someone to contact unlike...... well with Bitcoin. It isn't drawing back Bitcoin though.

I am okay with not all establishment would adopt Bitcoin though.

So you don't have a government trying to regulate people's money? Something I don't quite understand. If we are talking about fiat, then there is nothing to even think about. Everything is under total control.
And today, the trend is that states are starting to implement CBDC, which will tighten supervision over all transactions in the national currency of the country.
This can be avoided if you use crypto transfers, but not StableCoins. These are completely controlled by the financial regulator.

[retreat]

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?

-snip-

It will definitely be difficult for Bitcoin to turn into a widely accepted payment system due to its scalability and reliability for large volumes of transactions. Moreover, the economy that has been built for Bitcoin is now very good, there is no need to make it a payment system that can be used massively.

[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.

I am also seeing the possibility that once bitcoin will be globally accepted as a mode of payment, which means having partnership with banks and other centralized financial institutions, then we will no longer see bitcoin as completely decentralized crypto but maybe less decentralized by then. When that happens, I’m sure a lot of us will feel bad for it and expect that privacy and anonymity will be put at risk.

But I don't think that will happen. I mean, altcoins are controlled by a company or an individual while bitcoin is controlled by the entire community. It can be said that altcoins were centralized from the beginning, and all decisions were made by one person, but that cannot happen with bitcoin. Bitcoin maximalists would never agree to let bitcoin become centralized just for the sake of becoming a currency. They will not compromise with the government, that is what is happening and they will maintain that position.

If bitcoin becomes centralized then that is really bad and that is the end of the decentralized system.

[Questat]

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?

We can't turn that way too easily when the adoption of these merchants in accepting Bitcoin as a mode of payment is very slow. Even 10 years from now, we can't expect that the majority is using Bitcoin as a mode of payment but still, as a form of investment. While people saw this as a great investment, it was hard for them to be convinced that it was good for payment purposes as well. That is why some will say that it was a failed project as a form of currency but on the opposite side, it was a great revolution in investment platforms.

[Cookdata]

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?

That dream will be difficult to bring to realization with the speed of 10 minute confirmation, the world is too large for that kind of patient. If bitcoin has had the speed of an average second to get through without having to wait, then the adoption of the payment will go together with the investment. The lightning network is there though, but people don't use it the way they use the main layer, people prefer the return value to the transaction freedom it offers.

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.

XRP has been a hype and a shitty community if you ask me, haven't you look there growth beyond the media, the only thing they are good at is public relations, the value has not been something to talk about or should I say it has been the opposite of bitcoin, fast transaction and low return, there are even other altcoins that are faster and valuable than XRP but don't make noises like XRP armies.

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?

Perhaps the bitcoin layer 2 will continue to grow but right now, I don't think the main layer speed will go more than this and the adoption might grow though but not linearly, there is set back of speed and we can't get people to use it in that state; Ordinals became the hot next thing in crypto and we all observed how messy the transactions becomes and the mempool became filled up, imagine how it will be if the rest of the world want to use bitcoin.

[Blitzboy]

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.

I am also seeing the possibility that once bitcoin will be globally accepted as a mode of payment, which means having partnership with banks and other centralized financial institutions, then we will no longer see bitcoin as completely decentralized crypto but maybe less decentralized by then. When that happens, I’m sure a lot of us will feel bad for it and expect that privacy and anonymity will be put at risk.

But I don't think that will happen. I mean, altcoins are controlled by a company or an individual while bitcoin is controlled by the entire community. It can be said that altcoins were centralized from the beginning, and all decisions were made by one person, but that cannot happen with bitcoin. Bitcoin maximalists would never agree to let bitcoin become centralized just for the sake of becoming a currency. They will not compromise with the government, that is what is happening and they will maintain that position.

If bitcoin becomes centralized then that is really bad and that is the end of the decentralized system.

news, including that of Bitcoin Spot ETF approval or rejection, is just one tile in a mosaic of market influencers. News can act as a catalyst, but its the underlying market liquidity and capital flows that truly drive momentum.

You're absolutely right; new investors should be cautious not to fall into the emotional traps set by sensational news. Keep an eye on the bigger picture, understand the economic levers at play, and the market's natural ebb and flow will become less intimidating. Remember, its not about timing the market; it about time in the market.

[libert19]

Some reasons from my perspective:

Bitcoin isn't scaled up enough to be a daily payment system, neither is user friendly, securing and using funds requires a good amount of knowledge. Lowest fee transfer takes 50c, why would I do that when I can do the same using fiat with 0 cost, what exactly does Bitcoin does better to be used for daily payments?

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.

Bitcoin does 7 tps and XRP does 1500 while Visa does 1700 — ofc ripple comes most closer to what's already adopted and it's much cheaper than BTC.

Do you think that Bitcoin been decentralised will draw it back from becoming something like what XRP and Chain Link are achieving right now?

What am i missing about chain link? Isn't it just price fetching Oracle?

[lepbagong]

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?

-snip-

It will definitely be difficult for Bitcoin to turn into a widely accepted payment system due to its scalability and reliability for large volumes of transactions. Moreover, the economy that has been built for Bitcoin is now very good, there is no need to make it a payment system that can be used massively.

right, not only the limitations that bitcoin will have if used simultaneously, but there are also obstacles that not all of them can accept to be used as legal payments, but they must be changed first with those that are recognized.
currently the use of bitcoin has made a lot of progress even though there are still some obstacles, but this is enough and you don't have to use it in general like using US$. because payments can already be made, some can be done immediately and some can also be changed first, but the principle can already be used.
so I agree not to have to force it to be used for payments more broadly.

[Obari]

Well bitcoin  is a decentralized digital currency, atleast  that has been the primary definition I've known of it which simply  means is a currency in a digital  form.
The usage of bitcoin  is solely dependent  on the holder and I believe  one of the striking  factors that has kept bitcoin  above every other cryptocurrency is it's decentralization and volatility  and one of the the things that makes bitcoin and cryptocurrency in general really interesting,  is it's volatile nature which people are already gaining from.
I think if bitcoin is solely made a payment method, it wouldn't gaining this much acceptance.

[Smartvirus]

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.

When I hear about high fees, at times I get to ask just how much fee is been spent on transacting bitcoin and in most cases, its ways minute. A little more than  one would spend on gas to get to a bank, go through the rigorous process of filling forms,file them appropriately and send some payment to someone at the other end of the globe.
At the moment, the challenge with bitcoin  remains volatility as this affects other aspects to it being, network congestion as, it could create more buy or sell situations which consequently reflects in the fees but still,the fee is something that could be contained with when we scale the volume and purpose of the transaction.

Bitcoin isn't here to out traditional faith banking systems as well as how we buy and sell everyday products/services but to provide alternatives.

[lalabotax]

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?

It is our main hope that Bitcoin can be accepted as a means of payment everywhere. but this will not be easy to do. Maybe one day everything will change and Bitcoin will be accepted, but I don't know when. Because after all, it is still struggling right now, Bitcoin is still struggling to be accepted in all places and everyone in the world, even if only as an investment tool or trading activity. However, Bitcoin still has a long way to go and still stretches wide. It's a matter of time. Maybe it won't be easy, but it's not impossible. Maybe not 100%, but at least a large part of it.

[TimeTeller]

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?

It is our main hope that Bitcoin can be accepted as a means of payment everywhere. but this will not be easy to do. Maybe one day everything will change and Bitcoin will be accepted, but I don't know when. Because after all, it is still struggling right now, Bitcoin is still struggling to be accepted in all places and everyone in the world, even if only as an investment tool or trading activity. However, Bitcoin still has a long way to go and still stretches wide. It's a matter of time. Maybe it won't be easy, but it's not impossible. Maybe not 100%, but at least a large part of it.

Right now, the volatility factor is the main reason why people are going into this market.
So it is more on like investment opportunity, because the high volatility will give them a chance of profits.
But once this market stabilizes its price, I believe, that's when we will start seeing a lot of merchants accepting this as one of the payment methods.
Because right now, that's the concern of most merchants, the volatility aspect of this currency.

[Japinat]

What do you expect? Bitcoin is a highly volatile asset so it’s hard to anticipate that it will be legally adopted as a payment system. It has never fixed value unlike fiat. That’s why I’m good at it being a tool for investment. Although I’m not against on it being a payment mode in the future but i still can’t see the high possibility of accepting it in the market. Bitcoin is more suitable as an investment for now since it offers a lot of potential profits especially if you are good on dealing on its volatility case.

[CryptoBuds]

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?

It still has to be a long time before Bitcoin becomes a common means of payment and maybe it will never become so, but think about how many people already make transactions in btc especially those who don't have banking access, they aren't that few, right?  His time will come, just be patient

How can people who don't have access to a bank use bitcoin? I mean, bitcoin is not free and to own it you need money, a bank account to buy and sell it. Are you using bitcoin without a bank account? Many people have said the same thing but I really disagree on this one. As long as bitcoin cannot become the world currency, not a measure of value like fiat, and if we want to use it, we will never stop depending on fiat. We should not deny this.

It's very simple, often a family in a poor country makes the choice to send a member (choosing that he is in good health) to an industrialized country.  For example, many migrants from Africa often arrive in Europe.  Once these guys arrive in a stable country, they have to send money to their families and use money transfers, but they have high taxes and are not always present in small towns, so to pick up a family member in Africa, they would have to move to the largest nearby city and risk also of being robbed once you get out of the money transfer.  Instead Bitcoin solves this and does it by reducing sending costs, time and security and of course you don't need a bank account.

Yes, cross-border remittance is a prominent feature of bitcoin, it is a great way for our loved ones to receive money without spending too much transaction fees and time. But in African countries, have they legalized bitcoin as legal tender? And they allow people to use bitcoin as an alternative payment method to fiat like El Salvador did? You will send bitcoins instead of fiat through a 3rd party service, but how will your loved ones use bitcoins, and how will they convert bitcoins if they don't have a bank account? Let's be realistic, to be able to use bitcoin, we still need banks, we still need fiat, man.

[legendbtc]

What do you expect? Bitcoin is a highly volatile asset so it’s hard to anticipate that it will be legally adopted as a payment system. It has never fixed value unlike fiat. That’s why I’m good at it being a tool for investment. Although I’m not against on it being a payment mode in the future but i still can’t see the high possibility of accepting it in the market. Bitcoin is more suitable as an investment for now since it offers a lot of potential profits especially if you are good on dealing on its volatility case.

No investor is against bitcoin becoming an official means of payment or currency, but we need to look at the facts a bit. No government will accept a decentralized and highly volatile asset as currency. As bitcoin investors ourselves, we are not comfortable using bitcoin as a payment method because of its volatility. I'm okay with buying bitcoin at $50k and holding it until it makes a profit, but I wouldn't be stupid enough to buy bitcoin at $50k and spend it when it's only worth it 20 thousand dollars or 30 thousand dollars. Not only me but everyone will not have the courage to do that.

[FinneysTrueVision]

We've been hearing for many years that XRP is partnering with banks and nothing has really come of it. It's meaningless shitcoin marketing. There are much better options that banks can use instead of Ripple like stablecoins,CBDCs, or some other digital currency which they have direct control over.

Bitcoin can't become a widely used global payment network without making significant sacrifices to it's decentralization to achieve the scaling required for mainstream adoption. It will be a long and slow process if it ever happens but it is much more important to remain decentralized and secure.

[posi]

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?

It is our main hope that Bitcoin can be accepted as a means of payment everywhere. but this will not be easy to do. Maybe one day everything will change and Bitcoin will be accepted, but I don't know when. Because after all, it is still struggling right now, Bitcoin is still struggling to be accepted in all places and everyone in the world, even if only as an investment tool or trading activity. However, Bitcoin still has a long way to go and still stretches wide. It's a matter of time. Maybe it won't be easy, but it's not impossible. Maybe not 100%, but at least a large part of it.

Right now, the volatility factor is the main reason why people are going into this market.
So it is more on like investment opportunity, because the high volatility will give them a chance of profits.
But once this market stabilizes its price, I believe, that's when we will start seeing a lot of merchants accepting this as one of the payment methods.
Because right now, that's the concern of most merchants, the volatility aspect of this currency.

Right, volatility is why you, me and everyone here is in this market, profits are what we are all looking for.

Of course, once the market becomes stable more merchants and businesses will accept it as a payment method. But my question is if it becomes stable will people continue to use it? I don't believe it will still be able to attract as much attention as it does now. Not everyone will leave bitcoin, but there won't be too many market participants if bitcoin becomes stable.