The solution to using Bitcoin as an everyday currency

[landheer]

A whole lot of people would prefer hodling their bitcoin than spending it as a result of the growing value bitcoin possesses, the reality is that we all prefer to accumulate than transact with it because in the future your one bitcoin today has the the potential to do times 2 or more in value.

yes of course that is their hope most of them prefer to save bitcoin, rather than spend it all that is done because they hope a lot for the increase in bitcoin which continues to increase, and will provide many benefits to them especially for the future, and that is something interesting to continue considering the growth of bitcoin continues to increase, they try to think smart in the current progress.

[Dr.Bitcoin_Strange]

Well, I do believe that before anyone will adopt it in their business, they will consider if there are also customers that are willing to pay in Bitcoin and also if their country is Bitcoin friendly because as far as we know, there are some country that ban the open use of  Bitcoin.

In my country where Bitcoin is not ban and people are freely and openly talking about Bitcoin, I decided to accept Bitcoin in my business because I know that Bitcoin was free to be openly used in my country and I know that there were so many Bitcoin investors, although from the start, I didn't even know I will have so much customers that will pay until I placed a signage in front of my shop to announce that I now accept Bitcoin payment. That was when I started getting multiple customers paying with Bitcoin.

[Zadicar]

* What is your excuse for not adopting Bitcoin in your startup or thriving business?
If you are business that tending to adopt Bitcoin then its good since it will really be that a good option and just like been said that there are already payment processors exist.
Everything will really be just that depending whether an individual would really be  that wanting to sell or use their coins or not. We do know on how valuable it would be.

* What's your excuse for not using Bitcoin to pay your bills currently?
Its just common sense that just because of its potential and money making opportunity on just simply holding it. It will really be just that too impossible that you cant be able to determine that
opportunity on which that most crypto people been that wanting into. They cant really be just that wasting up their precious coins and as long they can buy something with their fiat then
they would actually do it rather than on using up their own coins.

[ovcijisir]

I sure don't use crypto as a currency, specially BTC. High fees, volatility, relatively slow blockchain - those are the reasons why BTC transactions are impractical in daily life. On other hand why would anyone use something that he knows will be few times more expensive in a few years?

High fees? Well, I don't remember the last time I paid more than $0.50 for a standard transaction (1 input/2 outputs) when it comes to BTC - and as for speed, keep in mind that it is a PoW protocol that is far more secure than most altcoins that may have fast confirmations, but when it comes to BTC you need max 2 confirmations to be sure that no one will succeed in "reversing" the transaction. In addition, there is LN, which offers instant transactions and fees that are literally so low that they are not even worth calling it that.

I'm not surprised that you think that BTC is not worth it as a currency (many think so), but there are those who think differently, from people like Laszlo Hanyecz to those who do not hesitate to spend BTC today.

I was thinking about using it for small transactions for example buying bubble gums - it would be expensive to pay 50 cents for transaction for one bubble gum pack that costs 1$.

Also blockchain would be huge after few months of small transactions like this.

For larger transactions 50 cents is ok price comparing to bank transfers.

[fullhdpixel]

I sure don't use crypto as a currency, specially BTC. High fees, volatility, relatively slow blockchain - those are the reasons why BTC transactions are impractical in daily life. On other hand why would anyone use something that he knows will be few times more expensive in a few years?

High fees? Well, I don't remember the last time I paid more than $0.50 for a standard transaction (1 input/2 outputs) when it comes to BTC - and as for speed, keep in mind that it is a PoW protocol that is far more secure than most altcoins that may have fast confirmations, but when it comes to BTC you need max 2 confirmations to be sure that no one will succeed in "reversing" the transaction. In addition, there is LN, which offers instant transactions and fees that are literally so low that they are not even worth calling it that.

I'm not surprised that you think that BTC is not worth it as a currency (many think so), but there are those who think differently, from people like Laszlo Hanyecz to those who do not hesitate to spend BTC today.

While I do not agree with him, I can say that it's still worse than for example a credit card payment, or even a QR payment. With a QR payment or any style on mobile phone, I just read a code and I am done, it's both free and instant at the same time, and we have to agree that bitcoin isn't that fast.

While I know bitcoin is far more secure than anything else, it's still not as cheap, or as quick, which makes it hard for everyday use, it makes it great for long term holding. I paid 2.5 dollars for my latest transaction (which was probably about 10 days ago) so I can tell you that it's still "a lot" compared to free, because while that may not be a lot itself, if someone does hundreds of these everyday, that's hundreds of dollars gone, instead of free.

[dezoel]

I do agree that an online business should definitely add in bitcoin as a way to sell stuff, because the amount of time isn't that important, a real life business adding it isn't really viable. If you have an ecommerce website, say selling something simple, like books.

You are going to offer bitcoin payments, and you will get paid, and you can wait for hours if you want, and then when the confirmation happens, which doesn't even take hours, then you can ship it. But if you have a burger joint for example, you give the burger, and people eat it, and when it comes to payment, both of you waiting there for 10+ minutes just for it to get confirmed. That is why most people who run a brick and mortar, do not put bitcoin as payment.

[Ndabagi01]

* What is your excuse for not adopting Bitcoin in your startup or thriving business?

1.Such payment processors already exist, but this isn't the main problem, that stops mass adoption of BTC as an everyday currency.
What stops BTC as a everyday currency is the expected growth in the value/price of BTC and the price volatility.
Would you ever spend BTC on buying stuff, when you know that the BTC price might increase by 25 or 50% tomorrow?

The primary aim of it has not been utilised more as the secondary use of it is. The primary aim of bitcoin is to serve as alternative to fiat currency but after that, it can still be used as an investable asset which is what many people coming into bitcoin technology are after. So when it is viewed in that regard, less people will be ready to use it for payment at a go when they know that the value of it will go up and they make more money from it.

* What's your excuse for not using Bitcoin to pay your bills currently?

I have not actually come across so many things I can easily get to but using Bitcoin but when I see one, it’s easy to make payment using it because of how decentralized the process it. Yet again, people will not want to always use that option to pay money when they already have in mind that it’s an asset they’re waiting for to grow and profit from.

[Sticky Bomb]

* What is your excuse for not adopting Bitcoin in your startup or thriving business?

It depends on the nature of business you're doing and those that are your target audience. The country of Operation matters a lot. You definitely cannot operate a business in China and add Bitcoin as a payment medium since the Chinese government banned it in the country

* What's your excuse for not using Bitcoin to pay your bills currently?

Books are what of payed often, would you be comfortable paying transaction fees as often as you pay bills?

I guess it's still more economical paying your bills in Fiat or stable coins. Even if Bitcoin fees are finally very friendly, I don't think you can compare it with bank charges when paying your bills constantly.

[bitLeap]

* What is your excuse for not adopting Bitcoin in your startup or thriving business?
* What's your excuse for not using Bitcoin to pay your bills currently?

For the first reason is that there is no legal policy regarding the bitcoin method so that it does not allow us to make it a payment option or business/enterprise transaction.

The second reason because I don't want to waste a few sats just to exchange them for disposable or easily consumable items. It's not functionally worth it and we slowly lose the value of bitcoin which will continue to be valuable at any time.

To pay bills? oh it will never be too much to do it just to pay for a few payment receipts that end up in the trash. Better to pay with fiat which in essence remains in the inflation space.

[Dailyscript]

Well, I do believe that before anyone will adopt it in their business, they will consider if there are also customers that are willing to pay in Bitcoin and also if their country is Bitcoin friendly because as far as we know, there are some country that ban the open use of  Bitcoin.

In my country where Bitcoin is not ban and people are freely and openly talking about Bitcoin, I decided to accept Bitcoin in my business because I know that Bitcoin was free to be openly used in my country and I know that there were so many Bitcoin investors, although from the start, I didn't even know I will have so much customers that will pay until I placed a signage in front of my shop to announce that I now accept Bitcoin payment. That was when I started getting multiple customers paying with Bitcoin.

Exactly what i had in mind. No one will want to start something that their customer will not adapt to it. It is better for your customers to be the one requesting at first before you introduce it to them. However it dont need to be always like that.  In our business we can introduce new technology to out perform other similar business owner. You know Bitcoin doesn't require much to setup, they just need to start using. What is required is wallet and the Bitcoin address and internet too that's all.

[puloweh555]

If more businesses and merchant individuals were to make the use of Bitcoin for payments as basic and necessary as much as they also use Fiat currency for payments and transactions and trades, then the government may have no choice than to openly legalize it, while we are let alone to deal with the taxes.

* What is your excuse for not adopting Bitcoin in your startup or thriving business?
* What's your excuse for not using Bitcoin to pay your bills currently?

First of all I don't have a growing business and secondly the reason for not using bitcoin to pay bills is because there is no such option, so using fiat would be more convenient since it is accepted everywhere.

Actually using bitcoin as a currency for daily life is very unlikely because of the high fees, plus slow transactions and of course volatility. On the other hand in my country bitcoin is strictly prohibited for transactions, bitcoin is only allowed for investment and trading. There was a case in my country, there was a car rental business but the payment was made using crypto but in the end both parties were arrested by the police for breaking the law. So it is very impossible in my country to make transactions using bitcoin because it is the same as going against the state.

[doomloop]

For the first reason is that there is no legal policy regarding the bitcoin method so that it does not allow us to make it a payment option or business/enterprise transaction.

The second reason because I don't want to waste a few sats just to exchange them for disposable or easily consumable items. It's not functionally worth it and we slowly lose the value of bitcoin which will continue to be valuable at any time.

To pay bills? oh it will never be too much to do it just to pay for a few payment receipts that end up in the trash. Better to pay with fiat which in essence remains in the inflation space.

That's sad but you are still lucky because you still can use BTC as an asset means. I think they do that because they are afraid that their local currency will get surpassed by Bitcoin. On the second one, what about if the item is not disposable and not easily consumable? Will you now use your Bitcoin? But no matter what type of item it is, as long as they are not useless, both must still be the same or can be treated with our Bitcoins. Spending a Bitcoin won't lose its value but it makes it more valuable in fact, as it is the main purpose of it which is slowly diminishing all throughout the years, only because people see that its price grows over time.

[shinratensei_]

If more businesses and merchant individuals were to make the use of Bitcoin for payments as basic and necessary as much as they also use Fiat currency for payments and transactions and trades, then the government may have no choice than to openly legalize it, while we are let alone to deal with the taxes.

* What is your excuse for not adopting Bitcoin in your startup or thriving business?
* What's your excuse for not using Bitcoin to pay your bills currently?

plenty of countries already allow bitcoin as means of payment, I don't think it's matter of whether it's legal or illegal, it's more of problem of adoption, which shows promising sign as of now.

* What's your excuse for not using Bitcoin to pay your bills currently?

it's because most of the companies still only accept the traditional means of payment, if I can pay electricity with bitcoin I would, but most are still stuck with credit card and cash, so the only way is bitcoin debit card, don't know if it counts as using bitcoin though since there's conversion under the hood.

[Y3shot]

Well, I do believe that before anyone will adopt it in their business, they will consider if there are also customers that are willing to pay in Bitcoin and also if their country is Bitcoin friendly because as far as we know, there are some country that ban the open use of  Bitcoin.

In my country where Bitcoin is not ban and people are freely and openly talking about Bitcoin, I decided to accept Bitcoin in my business because I know that Bitcoin was free to be openly used in my country and I know that there were so many Bitcoin investors, although from the start, I didn't even know I will have so much customers that will pay until I placed a signage in front of my shop to announce that I now accept Bitcoin payment. That was when I started getting multiple customers paying with Bitcoin.

If one wants to consider Bitcoin as a means of payment the first thing to look out for is if bitcoin is friendly and well accepted in the place where you are  and if it accepted then one has the right to accept Bitcoin as other means for payment.  Accepting bitcoin for payment is an advantage to every business because it can make payment to be easy , one don't have to bother to change from bitcoin to fiat but thus can be done without Aby consideration.

[Oluwa-btc]

* What is your excuse for not adopting Bitcoin in your startup or thriving business?
* What's your excuse for not using Bitcoin to pay your bills currently?

Technically and fundamentally, there is nothing preventing the use of a Bitcoin payment gateway. However, in practice, this requires two basic conditions: First, the service on the site must have a legal activity license that allows the use of Bitcoin as a supported currency, which is not granted by most licensing authorities. Second, the targeted customer niche must be familiar with crypto payment systems and know how to use them. If these two conditions are met, site owners will be required to meet the needs of the market and thus support modern payment systems that are compatible with market conditions.

I honestly would love to see Bitcoin playing it's role in transactions and serving business purposes too but since the government is unwilling to lay the foundation practices then there shouldn't be any need for pressures.It seems it's going to take a long time before the government will facilitate this promising sign for Bitcoin Investors and lovers.There're basic conditions and there're limitations to it but I'm pretty sure they understand the potential implications of legalizing that feature into e-commerce.

[Ever-young]

I honestly would love to see Bitcoin playing it's role in transactions and serving business purposes too but since the government is unwilling to lay the foundation practices then there shouldn't be any need for pressures.It seems it's going to take a long time before the government will facilitate this promising sign for Bitcoin Investors and lovers.There're basic conditions and there're limitations to it but I'm pretty sure they understand the potential implications of legalizing that feature into e-commerce.

Government don’t really need to legalize bitcoin before the people can start practically using it on their business and for buying, government just need to give the people free will not to punish who ever chooses to use it and those who choose not to use it, that’s to say if two parties agree to use bitcoin for there business transaction they are free to do that as long as they both agree on that, but in some countries conducting a business deal in an unrecognized and approved currency can be seen as an offense.

[alastantiger]

* What is your excuse for not adopting Bitcoin in your startup or thriving business?
* What's your excuse for not using Bitcoin to pay your bills currently?

The only reason why I haven't accepted Bitcoin in my business is because I'm not the owner of the business that I'm currently managing although when the opportunity present itself that my clients doesn't have any fiats on him and only has Bitcoin, I won't hesitate to take his Bitcoin as payment but this is unofficial as the business hasn't started accepting Bitcoin yet. I have tried to take to the owner of the business that I'm managing but he doesn't want to get into any disagreement with the federal government as he thinks, they're not in support of Bitcoin and he doesn't what his business to be closed or become a target, that was his excuse. For my bills, I make use of Bitcoin at times but for now, making use of fiats is more easier and less costly to use than Bitcoin because of the extra charges when using Bitcoin.

[Oluwa-btc]

If more businesses and merchant individuals were to make the use of Bitcoin for payments as basic and necessary as much as they also use Fiat currency for payments and transactions and trades, then the government may have no choice than to openly legalize it, while we are let alone to deal with the taxes.

* What is your excuse for not adopting Bitcoin in your startup or thriving business?
* What's your excuse for not using Bitcoin to pay your bills currently?

I don't have any excuse or anything against using Bitcoin as a mode of payments in my business or whatsoever, the truth is even with the personal usage or adoption of Bitcoin we are aware that cryptocurrency adoption is clearly not being approved by alot of country so I think this is one reason for hindrance and excuses. But in the other hand if it's been legalized and approved by that country then there would be smooth accessible means and ease transactions when doing business so with this anyone can pay up their bills and sort things out.

[coupable]

* What is your excuse for not adopting Bitcoin in your startup or thriving business?
* What's your excuse for not using Bitcoin to pay your bills currently?

Technically and fundamentally, there is nothing preventing the use of a Bitcoin payment gateway. However, in practice, this requires two basic conditions: First, the service on the site must have a legal activity license that allows the use of Bitcoin as a supported currency, which is not granted by most licensing authorities. Second, the targeted customer niche must be familiar with crypto payment systems and know how to use them. If these two conditions are met, site owners will be required to meet the needs of the market and thus support modern payment systems that are compatible with market conditions.

I honestly would love to see Bitcoin playing it's role in transactions and serving business purposes too but since the government is unwilling to lay the foundation practices then there shouldn't be any need for pressures.It seems it's going to take a long time before the government will facilitate this promising sign for Bitcoin Investors and lovers.There're basic conditions and there're limitations to it but I'm pretty sure they understand the potential implications of legalizing that feature into e-commerce.

From an objective perspective, it makes sense for governments to be cautious about Bitcoin and decentralized systems, and it may not be limited to governments adopting an outright hostile policy.
- Primarily, governments fear Bitcoin because it gradually diminishes their power and could completely eliminate financial authority. This is sufficient reason to wage war on Bitcoin.
- Governments are not adept at dealing with the accelerating pace of technological development and do not have the technical infrastructure to even partially integrate Bitcoin into their markets. This means that even if a government wanted to friendly-use Bitcoin, it would be meaningless without a competent technical infrastructure. This is why the experiment in El Salvador and the Central African Republic failed.

Governments in technologically advanced countries still struggle to deal with the decentralization of Bitcoin (cryptocurrencies in general). Therefore, the pretext is often Bitcoin's association with suspicious activities, ranging from terrorist financing and organized crime to money laundering and tax evasion.

[AmaGold70]

The solution to using Bitcoin as an everyday currency despite its small  decimal fractions or Satoshi, involves using a Bitcoin wallet which converts your BTC to dollars so you can see it clearly and use for purchase without any maths or racking of the brain, then there's also the Bitcoin payment processor that will automatically convert your Bitcoin into dollars when you make a purchase.

Some great examples of Bitcoin payment processor may include Bitpay, Coingate, BTCpay server, Luno may be for the future emerging crypto currency markets and coin base commerce.
While Bitcoin wallet could include software/hot wallets with easy access to the Internet, mobile wallets for most of our smartphones, web wallets like Binance, kraken, coinbase, we also have the hardware or cold wallets and then the paper wallets which also qualify as a cold wallet.

If more businesses and merchant individuals were to make the use of Bitcoin for payments as basic and necessary as much as they also use Fiat currency for payments and transactions and trades, then the government may have no choice than to openly legalize it, while we are let alone to deal with the taxes.

* What is your excuse for not adopting Bitcoin in your startup or thriving business?
* What's your excuse for not using Bitcoin to pay your bills currently?

Bitcoin as a decentralized currency has blocked the government from getting any cut from the transactions we do from BTC address to another and it has also stopped them from knowing our net Worth in regards to our Bitcoin assets, now, if we use Bitcoin as our everyday purchasing/buying and selling method and abandoning the traditional way of doing our regular business, do you think the government will be happy about the whole thing? No, because using Bitcoin as payment method will stop them from getting their own cut from every bank transaction we make. In a country that Bitcoin isn't accepted using it for any kind of business will only make the government mad and they could ban it completely. My excuse for not adopting Bitcoin in my business or not using it to pay my bills is because our local business men that I buy from doesn't know about Bitcoin and they might think that I want to scam them if I mention it to them, they believe in cash payment or money transfer from bank.