The possibility of greater adoption brings wide acceptance

[B-BossMan]

The possibility of greater adoption brings wide acceptance.

At times, when I think of the historical cost of Bitcoin, aside from future speculation, Bitcoin is meant to move on and make you wiser and smarter. We should always remember that the more we make use of Bitcoin, the higher it drives the adoption. If every one of us tends to hold Bitcoin, how would a trader care to accept it? So the unstoppable nature of Bitcoin lies in holding it; the pure usage of it brings demands.
I realised all this logic after I went for some research and studies; however, I believe that a small percentage of individuals owned a Bitcoin, though. My point is that since the rich have taken it over and greed has turned it into a hedge investment, its original purpose has been destroyed. It will never be a currency because the rich aren't going to allow it to be.  They'll keep buying it up until there's none left moving.  Then what happens to the network when it grinds to a halt because no one is willing to sell?

How can miners make money if there's nothing to mine?

I realise this won't happen in a month or even a year.  But the writing is on the wall.  This is where it's headed.  They will use a stablecoin or CBDC for currency because they are never going to pay down control over the money system.

Is it that as more people get into Bitcoin, it will force the price upward?

Since Bitcoin has a cap, a limit, it's scarce. I believe in 10 or more years people will be trading on the street with Bitcoin, not fiat currency, anymore. The time to buy Bitcoin was yesterday, last week, last month, or last year. And for tomorrow, the real time to buy bitcoin will be today.

[Ambatman]

At times, when I think of the historical cost of Bitcoin, aside from future speculation, Bitcoin is meant to move on and make you wiser and smarter.

Please don't do this.....
Bitcoin can't make you wiser and smarter. It gives you control over your finance.

So the unstoppable nature of Bitcoin lies in holding it; the pure usage of it brings demands.

uhhh please i can't really comprehend this.

My point is that since the rich have taken it over and greed has turned it into a hedge investment, its original purpose has been destroyed. It will never be a currency because the rich aren't going to allow it to be.

Are the rich stopping you from using your Bitcoin as a currency?
There's no rule that stops people from buying too much Bitcoin nor can everybody have same amount.
Yes Bitcoin as a store of value is suppressing as a medium of exchange
But like Hal said, Bitcoin would be used for large transactions.

They will use a stablecoin or CBDC for currency because they are never going to pay down control over the money system.

I would rather use Opay than use CBDC and if it's outside nation Bitcoin can be used
There are even cheaper alternatives like litecoin and dogecoins.

How can miners make money if there's nothing to mine?

There's something in Bitcoin called Transaction fee. Miners would make money from that.

I believe in 10 or more years people will be trading on the street with Bitcoin, not fiat currency, anymore.

okay u don successfully loss me.
U dey complain about the issue of holding Abi you dey advice people to buy and hold.

[Ishicryptic]

As @Ambatman, noted in his last paragraph where he quoted your last paragraph, you got us confused because from my understanding you where hammering on the point that the rich are holding Bitcoin and won't allow it to be a currency. Then in your conclusion you went on to say that in the next 10 years people will be trading Bitcoin on the streets. Perhaps you meant by then that the rich would allow it to be a currency? The rich, institutions and governments only have control over the Bitcoin that they hold, they can manipulate price on the short term but Bitcoin has the potentials to always recover because it is decentralized.

You need to understand that Bitcoin as a decentralized digital currency is not in any competition with traditional currencies, it was created as an alternative to fiat, that is for people who wants a currency that is not controlled by any central bank. Bitcoin gives it's holders privacy and freedom to do p2p transactions without involving third parties and as a plus it has gained a reputation as a store of value. You can spend your Bitcoin anywhere it is accepted and if you hodl it it will give you returns on investment on the long term, it gives it's holders profit and choice and that is why the adoption is increasing.

[Stormisover]

The possibility of greater adoption brings wide acceptance.

At times, when I think of the historical cost of Bitcoin, aside from future speculation, Bitcoin is meant to move on and make you wiser and smarter. We should always remember that the more we make use of Bitcoin, the higher it drives the adoption. If every one of us tends to hold Bitcoin, how would a trader care to accept it? So the unstoppable nature of Bitcoin lies in holding it; the pure usage of it brings demands.
I realised all this logic after I went for some research and studies; however, I believe that a small percentage of individuals owned a Bitcoin, though. My point is that since the rich have taken it over and greed has turned it into a hedge investment, its original purpose has been destroyed. It will never be a currency because the rich aren't going to allow it to be.  They'll keep buying it up until there's none left moving.  Then what happens to the network when it grinds to a halt because no one is willing to sell?

How can miners make money if there's nothing to mine?

I realise this won't happen in a month or even a year.  But the writing is on the wall.  This is where it's headed.  They will use a stablecoin or CBDC for currency because they are never going to pay down control over the money system.

Is it that as more people get into Bitcoin, it will force the price upward?

Since Bitcoin has a cap, a limit, it's scarce. I believe in 10 or more years people will be trading on the street with Bitcoin, not fiat currency, anymore. The time to buy Bitcoin was yesterday, last week, last month, or last year. And for tomorrow, the real time to buy bitcoin will be today.

There is a level of investment opportunity equality for both the rich and the poor the only difference is that they are only expected to only invest according to their own financial capability, remember that Bitcoin is affordable by buying in fraction using the DCA strategy of accounting Bitcoin and you must not buy a whole Bitcoin or a Large quantity at a go but just within your reach as an individual, no be competition na as your hand fit reach young buy.

Demands and supply are part of the factors that influences Bitcoin volatility, the more people are buying the more the value in price increases too.

Bitcoin did not come to chase fiat away people will still be making use of the both even in 10 years to come.

[EL MOHA]

We should always remember that the more we make use of Bitcoin, the higher it drives the adoption. If every one of us tends to hold Bitcoin, how would a trader care to accept it? So the unstoppable nature of Bitcoin lies in holding it; the pure usage of it brings demands.
I realised all this logic after I went for some research and studies; however, I believe that a small percentage of individuals owned a Bitcoin, though. My point is that since the rich have taken it over and greed has turned it into a hedge investment, its original purpose has been destroyed. It will never be a currency because the rich aren't going to allow it to be.  They'll keep buying it up until there's none left moving.  Then what happens to the network when it grinds to a halt because no one is willing to sell?

Trading bitcoin most especially using it for payment method is a great way to help the chain, bitcoin been used as payment method is also a very good way of spreading bitcoin adoption. Bitcoin was even designed as an alternative means to fiat currency also using it as a currency is a great idea but the reason why you actually see ur been used less might be because of the restrictions from the government. For our country there is no an outright declaration that the bitcoin is legal or illegal yet and this has definitely held back many into either incorporating into their business or some using it to pay for goods.

But regardless I agree with your point that we should as much as we hold onto bitcoin as investment also treat it as a currency for trade most especially by prioritizing those businesses having it as their payment method

[Marvelockg]

My point is that since the rich have taken it over and greed has turned it into a hedge investment, its original purpose has been destroyed. It will never be a currency because the rich aren't going to allow it to be.

Now that you already know this, the question is, what are you doing about it? The fact is that with more investors coming into the system, the highest you can do is to position yourself such that you're able to at least get involved in investing at this point that you're aware of. The reality is that, the likelihood of bitcoin going higher in the coming days is more then it chance of coming down and hating on it won't change anything.

Even though what's happening at the now is not exactly what satoshi made bitcoin to revolve around, the direction it's currently going is still not entirely out of place.

As long as adoption continues to grow, and smale scale investors can still benefit from bitcoin, there's no point trying to play the blame game rather, it's only best to see how to position yourself so you can also gain from bitcoin even though you're a newbie investor.

[Mate2237]

My point is that since the rich have taken it over and greed has turned it into a hedge investment, its original purpose has been destroyed. It will never be a currency because the rich aren't going to allow it to be.

Now that you already know this, the question is, what are you doing about it? The fact is that with more investors coming into the system, the highest you can do is to position yourself such that you're able to at least get involved in investing at this point that you're aware of. The reality is that, the likelihood of bitcoin going higher in the coming days is more then it chance of coming down and hating on it won't change anything.

Even though what's happening at the now is not exactly what satoshi made bitcoin to revolve around, the direction it's currently going is still not entirely out of place.

As long as adoption continues to grow, and smale scale investors can still benefit from bitcoin, there's no point trying to play the blame game rather, it's only best to see how to position yourself so you can also gain from bitcoin even though you're a newbie investor.

That is true we should stop the Idea of playing the blame game because with the current situation we have with Bitcoin Bitcoin is now a global asset that has turned an investment potentials so it's important that we start where we are we should take action and stop blaming ourselves because Bitcoin will continue to grow higher as each day passes


There has been an increased rate of Bitcoin acceptance this is due to the fact that alot of gains has been recorded with Bitcoin the use of Bitcoin because Bitcoin has moved beyond just a store of value but it as become an investment opportunities that people now make livelihood from

[Josefjix]

How can miners make money if there's nothing to mine?

Miners don't make money from Bitcoin buy and sell operations, they ensure Bitcoin transactions "Send and Receive" are confirmed successfully. They solve some certain puzzle to complete a block to allow a transaction to go through, that's what they actually do not on buying and selling Bitcoin.

[Smartvirus]

How can miners make money if there's nothing to mine?

Miners don't make money from Bitcoin buy and sell operations, they ensure Bitcoin transactions "Send and Receive" are confirmed successfully. They solve some certain puzzle to complete a block to allow a transaction to go through, that's what they actually do not on buying and selling Bitcoin.

You would have let him worry about where the fees go. That’s where the gold mine is because as it is, mining hasn’t been much of a profitable venture when it’s about the Bitcoin block rewards. Fees is one way to collect from everybody and it’s the one thing that isn’t going to run out should the last Bitcoin be mind in 2140,,, that’s a long time now. Miners are having to share their mining power anyway, forming clouds and resources together all that. The fees and ensuring the integrity of the network serves real good.