Will bitcoin become a payment option?Was the initial design of bitcoin tobe paym

[Cryptomultiplier]

When I was searching about bitcoin, a question came to mind: When will bitcoin become widely accepted as a payment option in real life? Was the initial design of bitcoin intended for use as a form of payment? What aspects contribute to making bitcoin a viable payment option? I know that currently, bitcoin is seen more as an investment rather than a means of payment. Is that correct?

BTC is a currency to firstly begin with. It is supposed to be a medium of payment for transactions and service just as regular fiat is but with the spot ETF and other investment projects its developers has come up with, it may be more than just a currency, but an asset of value that promises to remain so. Many persons who invest in BTC do so because it is an investment that can be untraceable for as long as one HoDLs as deemed fit .

 It is just the fact that it is decentralized on its own network and bolsters anonymity, in that government servers or agencies would find it hard to track any transaction that happens on the network that makes it not so accepted by various government of a country.
Else, It is a digital currency used by the special few who know how to, hence the P2p initiative which makes it work better.
With more acceptance and regulations taking hold of the network and idea of BTC, we might soon see BTC ATMs in real world being rampant and of course real BTC currency will be withdrawn and used as regular fiat would.

[DooMAD]

4. Less volatility and appreciation. People aren't gonna want to spend bitcoin all that much if it goes up a ton in value over time. Though this may not matter because by the time there are enough people to satisfy #2 and #3 bitcoin will probably be fairly mature and will no longer be going up by dozens percent per year.

The widely-held assumption used to be that volatility would naturally taper off over time and then Bitcoin would settle into more of a currency role.  But I haven't seen anyone saying that lately.  Perhaps that assumption has changed now?  The roller-coaster doesn't appear to be slowing down yet.  We likely won't know for sure for another decade or so.

[deathcode]

When I was searching about bitcoin, a question came to mind: When will bitcoin become widely accepted as a payment option in real life? Was the initial design of bitcoin intended for use as a form of payment? What aspects contribute to making bitcoin a viable payment option? I know that currently, bitcoin is seen more as an investment rather than a means of payment. Is that correct?

If you ask when we will not be able to give you the answer. but what is certain is that Bitcoin has been used by some countries or some business people as a means of payment as an alternative to using fiat.
Bitcoin is designed for currency ownership that is 100% under your control which you can transfer for your needs or other transactions according to your wishes without interference from other parties.
Currently, when you deposit money in the bank, you also authorize the Bank to use your money for the Bank's needs.
Currently, more countries accept Bitcoin as an investment asset. but that doesn't preclude the use of Bitcoin as a means of payment. it's just that each country has its regulations regarding the legal use of currency.

[we-btc]

When I was searching about bitcoin, a question came to mind: When will bitcoin become widely accepted as a payment option in real life? Was the initial design of bitcoin intended for use as a form of payment? What aspects contribute to making bitcoin a viable payment option? I know that currently, bitcoin is seen more as an investment rather than a means of payment. Is that correct?

 There is no ambiguity here. Bitcoin was designed to be "electronic cash". 

The first sentence of the white paper says is very clearly - "A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution."

Peer-to-peer electronic cash is needed to decentralize our systems and allow them to be more responsive to the producers.

[stompix]

4. Less volatility and appreciation. People aren't gonna want to spend bitcoin all that much if it goes up a ton in value over time. Though this may not matter because by the time there are enough people to satisfy #2 and #3 bitcoin will probably be fairly mature and will no longer be going up by dozens percent per year.

The widely-held assumption used to be that volatility would naturally taper off over time and then Bitcoin would settle into more of a currency role.  But I haven't seen anyone saying that lately.

Because it's still in the discovering price period, and a lot think that the price might be higher and higher so here you have the volatility coming in, until we get past all those phases like the current ETH approval, the incoming halving and maybe even the next one we will still have swings as news, hype, fomo and everything else will still influenced the price in a disproportionate way.

And until this phase passes and no longer you can dream of 5x in a year or two you will not see people spending their coins, because...why would they do it unless forced?

If you ask when we will not be able to give you the answer. but what is certain is that Bitcoin has been used by some countries or some business people as a means of payment as an alternative to using fiat.
~
Currently, when you deposit money in the bank, you also authorize the Bank to use your money for the Bank's needs.

I have a feeling that if we run the numbers there are more people entrusting their Bitcoins to banks (Binance,Coinbase,Kucoin...hmm let's add FTX,mtGox) than there are people paying for stuff and goods or services directly in crypto.And, I still think Bitcoin is doing better in those stats than other altcoins, I'm sure all under top 20 have just exchnge<>wallet<>exchnge activity.

[Baki202]

When I was searching about bitcoin, a question came to mind: When will bitcoin become widely accepted as a payment option in real life? Was the initial design of bitcoin intended for use as a form of payment?

If it's about when people will accept Bitcoin, quite a few people are accepting it, but not everywhere it is accepted as a payment method. Even if some countries have accepted it in their nations, the rest are just doing individual acceptance, which is another way of raising awareness in their way. People who are into Bitcoin will be encouraged, and the goal for the usage of Bitcoin is to become dynamic and a lot of things are changing. For some people, it is an asset and for others, it is a payment method.

What aspects contribute to making Bitcoin a viable payment option? I know that currently, bitcoin is seen more as an investment rather than a means of payment. Is that correct?

that question to everyone as a reason and a choice if they want to accept Bitcoin or not. It is not something that is forced and, like I said, most people use it as a means of raising awareness about bitcoin. The main focus and what makes it interesting, is when you see it as an investment. That way, you can make a profit and things like this make it different from fiat but when you buy, you can make use of it because, if I can remember their websites, you can buy things using Bitcoin but the most important thing about Bitcoin is the profit.

[Dzwaafu11]

When will bitcoin become widely accepted as a payment option in real life?

Telling you this is just like telling you what the future is about, which will not be true; furthermore, it will be very hard to get this answer because nobody knows what will happen. If you ask what will happen tomorrow, you can see that it will just be a prediction, but the thing is that nobody will tell you when Bitcoin will be accepted as a means of payment world-wide if that is what you are talking about because the currency is not accepted in many countries. The only thing I can tell you is that some countries have accepted it. and even in those countries, they did not fully accept it as an alternative payment method because they have their own local currency.

Was the initial design of bitcoin intended for use as a form of payment? What aspects contribute to making bitcoin a viable payment option? I know that currently, bitcoin is seen more as an investment rather than a means of payment. Is that correct?

Yes, actually, the main purpose of creating bitcoin is to make payments when purchasing something, but due to its volatility, people have discovered another way of investing, and seriously, I can say that it is because of this investment that Bitcoin has gained more recognition now. If not, I don't think it would have gained this popularity. If not, I don't think people will accept it this way, and now that it has saved many individuals from poverty, lack of jobs, and some other things, the aspect that contributes to making Bitcoin a viable payment method is this investment.

I'm talking about some people who invested and still use it to pay for something if they buy something from a store where they accept Bitcoin. so I think investment also contributes to making Bitcoin a viable means of payment. With time, everything will go as it is supposed to because you know it is going to be something that will happen in a short period of time.

[Assface16678]

Bitcoin is already being used now as another form of payment, but yeah it is mostly used in closed group or just those person who are aware about the existence of crypto curren y and especially bitcoin, many online trasactions now can be done using bitcoin as it provides security and safety, and also you can transfer any amount without having a tax or anything, but of course as I said these transactions are mainly online or few people, its because bitcoin or crypto currency can't still be spread world wide, I mean even we are already spreading the idea about bitcoi many people are still hesistant to it as also this kind of payment is too complex for other individual to handle, so before bitcoin or any crypro currency can be used for transactions daily there is still a long way of process for everyone to adopt it, we will wait for that day to happen.

[Fivestar4everMVP]

When I was searching about bitcoin, a question came to mind: When will bitcoin become widely accepted as a payment option in real life? Was the initial design of bitcoin intended for use as a form of payment? What aspects contribute to making bitcoin a viable payment option? I know that currently, bitcoin is seen more as an investment rather than a means of payment. Is that correct?

Well, currently, bitcoin is definitely seen more as an investment rather than a means of payment for goods and services as it was initially designed.
But what if I tell you that Satoshi actually designed bitcoin to also be regarded as an asset to be invested in?

Have you ever wondered why Satoshi capped the total/max supply of bitcoin to 21 million?
Do you know that law of scarcity and demand? Which states that, when something is very scarce, and there demand for it keeps increasing, so also does that price or worth of that thing keep increasing.

All this (plus more) are what Satoshi had in mind when he designed bitcoin, he sure wrote in the white paper that bitcoin is an electronic peer to peer cash system, but trust, if Satoshi really wanted bitcoin to serve as an instrument of payment for goods and services alone, he would have made the bitcoin supply to be infinite, so that the price will be relatively low and stable.