Can Bitcoin Ever Be Everyday Money?

[nemesis_incarnate]

I believe adoption does not have to mean they want to hold on to Bitcoin.  I do not care if they are taking my Bitcoin and exchanging it for the worst Currency alive.  I only care about more merchants accepting Bitcoin.  That is it and it is the most important part.  What they do after this is their business.

It takes a short sighted mind to accept Bitcoin as a business owner for years and not realize the mistake you made by not also including it in your portfolio of investments.  How can you look at a Bitcoin chart and think 'yes, not holding on to it was the best plan'?

Only if you are from the traditional world and don't know much about BTC..

Unfortunately, there are people in the business like that and fiat for them is a the main way of things, not BTC.

[Hammer_Summer]

Whatever, a company that accepts bitcoin as an alternative payment does with their bitcoin isn't anyone concern because they're into business and every businessman will do whatever he thinks is more profitable for him.

If you buy bitcoin and hodli is still adoption. You mustn't spend the bitcoin that you bought because it3a currency, if you want to use it as an investment. Fiat depreciate overtime which is the main reason why people should keep their bitcoin and spend fiat. I love spending fiat and hodli my bitcoin does not mean that I am not part of those that adopted bitcoin. Keeping bitcoin in your noncustodial wallet should be prioritize.

In fact, the main objective of companies that accept Bitcoin as payment is to make a business profit so whether they sell or hold on to that Bitcoin depends entirely on their strategy. Because it does not depreciate over time like traditional fiat currencies but rather has the potential to preserve value in the long term due to its limited supply. If someone uses Bitcoin for everyday purchases that is also positive for the entire ecosystem because it increases acceptance in real life. But personally I agree with you that keeping Bitcoin in a non custodial wallet is the safest way, because you are in full control of your funds.

[mak013]

Even if they convert BTC in any other currency it means, that BTC costs money. It is good enough as for me. But it is a long way to make BTC "everyday money". At least it must not be any restrictions for using BTC in the main part of the countries.
And two more problems: 1. Using BTC is like using a gold. Do you often see someone who change gold on coffee? 2. Today BTC is calculated in USD. Total adoption would be when USD would be calculated in BTC.

[knowngunman]

Question: Do you think there will ever come a time where we wont have as much volatility as we have with btc now and btc can finally serve its spending purpose truly?

Unless we are talking about stable coins here, bitcoin will always remain a volatile asset. Let be realistic, people now care about the potential profit involved in bitcoin than any other purposes bitcoin has to offer. For Bitcoin to become a stable coin as you wanted, it means it has to take away the expectation of people making profits from it by holding it for as long as possible. I bet you, all the hype about bitcoin will reduce significantly once the price becomes more stable and less volatile. The good thing is that the volatility doesn't make it impossible to spend if you want to.

Is it true adoption if the ones adopting don't truly use or hold btc!!!

And Yes, it's adoption. It does not matter whether they keep it or spend it instantly. What matters the most is accepting it as mode of payment. Keeping and hold is a thing of personal choice. Besides, you don't expect people doing business to accept Bitcoin and hold on it, their business will collapse if they do. Businessmen usually spend money to keep their business running and irrespective of whatever you use to pay them, they'll definitely spend it and not hold.

[Kelward]

Question: Do you think there will ever come a time where we wont have as much volatility as we have with btc now and btc can finally serve its spending purpose truly?

Is it true adoption if the ones adopting don't truly use or hold btc!!!

For now I don't think that Bitcoin can be everyday money because of it's volatility, businesses that needs to sell, take profit and restock cannot afford to hold Bitcoin as everyday business money. They will worry that it can dip before they withdraw it to take profit and restock, unless the businesses wants to be investing the Bitcoin that they make from sales. They can accept Bitcoin and convert it to stablecoins or fiat, by that they won't worry about Bitcoin volatility. If you are spending your Bitcoin where it is accepted you don't need to worry whether they will leave the fund in Bitcoin or convert it, what matters is that the awareness and adoption is increasing. If Bitcoin becomes stable in the future I believe that it's use for buying and selling will increase but the disadvantage would be that it will cease to reach ATH again.

[purple_sparkles]

Question: Do you think there will ever come a time where we wont have as much volatility as we have with btc now and btc can finally serve its spending purpose truly?

Unless we are talking about stable coins here, bitcoin will always remain a volatile asset. Let be realistic, people now care about the potential profit involved in bitcoin than any other purposes bitcoin has to offer. For Bitcoin to become a stable coin as you wanted, it means it has to take away the expectation of people making profits from it by holding it for as long as possible. I bet you, all the hype about bitcoin will reduce significantly once the price becomes more stable and less volatile. The good thing is that the volatility doesn't make it impossible to spend if you want to.

Is it true adoption if the ones adopting don't truly use or hold btc!!!

And Yes, it's adoption. It does not matter whether they keep it or spend it instantly. What matters the most is accepting it as mode of payment. Keeping and hold is a thing of personal choice. Besides, you don't expect people doing business to accept Bitcoin and hold on it, their business will collapse if they do. Businessmen usually spend money to keep their business running and irrespective of whatever you use to pay them, they'll definitely spend it and not hold.

At present, some business owners accept bitcoin payments mainly for customer convenience. I think it is extremely important that this remains a voluntary decision of the business owner, rather than a mandatory government requirement. If it becomes obligatory, various regulations and penalties will inevitably follow, which will negatively affect businesses as a whole.

[henry_of_skalitz]

Question: Do you think there will ever come a time where we wont have as much volatility as we have with btc now and btc can finally serve its spending purpose truly?

Is it true adoption if the ones adopting don't truly use or hold btc!!!

For now I don't think that Bitcoin can be everyday money because of it's volatility, businesses that needs to sell, take profit and restock cannot afford to hold Bitcoin as everyday business money. They will worry that it can dip before they withdraw it to take profit and restock, unless the businesses wants to be investing the Bitcoin that they make from sales. They can accept Bitcoin and convert it to stablecoins or fiat, by that they won't worry about Bitcoin volatility. If you are spending your Bitcoin where it is accepted you don't need to worry whether they will leave the fund in Bitcoin or convert it, what matters is that the awareness and adoption is increasing. If Bitcoin becomes stable in the future I believe that it's use for buying and selling will increase but the disadvantage would be that it will cease to reach ATH again.

The best thing about it is that BTC is still relevant either way: and one day, it won't be converted to fiat to be used for such transactions on a more official side of the services and such, imo.

Volatility will be gone one day (it will be as minimal as it can be), it won't be as big as it is now and even more so as it was at the start of the journey.

[Felicity_Tide]

Question: Do you think there will ever come a time where we wont have as much volatility as we have with btc now and btc can finally serve its spending purpose truly?

I honestly can't imagine the volatility of Bitcoin reducing anytime soon. The market is growing on a daily basis, new investors are joining the party, supplies keep reducing as institutions are buying aggressively. This is far more than a true definition of adoption imo. Some retail shops might have chosen not to accept it in their business for certain reasons that i believe is personal to them, but it still doesn't mean that Bitcoin hasn't hit a wide mainstream level yet. Volatility is certainly needed, and i don't think it should change anything. Mind you, just because some people don't accept it in their retail business, doesn't mean others don't use it for same.

Is it true adoption if the ones adopting don't truly use or hold btc!!!

This doesn't in anyway sounds like adoption.
For it to be called adoption, you're either holding, or using it on a regular base, or doing both. Doing neither doesn't make you an adopter.

[EL MOHA]

Question: Do you think there will ever come a time where we wont have as much volatility as we have with btc now and btc can finally serve its spending purpose truly?

Is it true adoption if the ones adopting don't truly use or hold btc!!!

I will still consider this as an adoption process, we can just start from the bottom and hit the peak straight up there will be gradually process along the way and this is part of it, before we don’t even see people accepting it  talk more of actually converting them it to their own preferred currency so the fact that they are accepting it now is part of the adoption growth, what they do with it is something else. Aren’t we seeing the government also beginning to have reserves for the bitcoin same way there will be more holders in future, so this is part of the road map for full adoption.

As for volatility which is the biggest scare for most although I don’t think it is the main reason but they simply just don’t trust it fully yet to keep holding, I know volatility will heavily reduce and we have already start experiencing the reduction in volatility because the volatility during the early days of bitcoin isn’t same as now and it is believed that this reduction will continue as there is more adoption and more people holding

[Churchillvv]

Know one thing bitcoin is volatile in nature and perhaps businesses may not consider keeping it for a short time because of its volatile nature, they will probably convert to usdt or any other stable coin in order not to lose the profit they probably have made from the cup of coffee you bought, so I certainly do not agree that bitcoin is serving the other purpose apart from saving and investment purposes, but the fact that people use it as a medium of exchange, which it was meant for but of course it can be expanded beyond that. Bitcoin surely is doing well but not in as a currency which would replace fiat for now.

[Odogwu-Blockchain]

I believe adoption does not have to mean they want to hold on to Bitcoin.  I do not care if they are taking my Bitcoin and exchanging it for the worst Currency alive.  I only care about more merchants accepting Bitcoin.  That is it and it is the most important part.  What they do after this is their business.

Yeah, what to truly care about also is the transaction fee to be spent and time of bitcoin to confirm because time wasting and the fee will delay adoption to be spread across many nation in the future, it might be only used by the rich while the poor might consider these factors and decide to withdraw their eagerness to adopt daily spending.   

It takes a short sighted mind to accept Bitcoin as a business owner for years and not realize the mistake you made by not also including it in your portfolio of investments.  How can you look at a Bitcoin chart and think 'yes, not holding on to it was the best plan'?

You shouldn't be thinking that way, some investors are not thinking that way while they have their portfolio filled with good quantity of bitcoin, and other wallets for spending whenever and however they want especially when on vacation and such.

[Ivystar5]

I believe that's just a mere effect of fear of loss, to an extent bitcoin might not be the everyday money yet, but surely in a wild future it could be used for everything yet not surpassing the use of fiat or stable whatever, because since bitcoin is not in a definite position, one could buy coffee as you mention for 0.00005 BTC and the next minute it turns to add another zero in front hence living he business in loss and maybe, the other way round keeping them in more profit but as long as business is a give and take stuff it can't rely on volatile currency for transactions.

[Keevoid]

Question: Do you think there will ever come a time where we wont have as much volatility as we have with btc now and btc can finally serve its spending purpose truly?

Is it true adoption if the ones adopting don't truly use or hold btc!!!

The reality is that Bitcoin’s volatility is still a major barrier to its use as a true medium of exchange. Most businesses prefer to convert it instantly to fiat because they don’t want the risk of BTC’s price dropping after a transaction, which makes sense from a business standpoint really.

But I think over time, as Bitcoin becomes more widely held and liquidity deepens globally, the volatility might reduce. It’s the same pattern seen in the early days of other asset classes, as adoption and market maturity increase, price swings tend to stabilize.

So yes, I do think there will come a time when Bitcoin can serve its spending purpose more genuinely. But for that to happen, people and businesses have to actually hold and transact in BTC rather than using it as a bridge back to fiat. Until then, we’re still somewhere between speculation and real adoption

[KingsDen]

Business is quite different from investment, so I do not expect any business man to hold onto BTC for long in order to prove that BTC can be used as currency. If you consider the volatility factor, you will understand that holding bitcoin is a bad idea for business people.

For you to have bought a coffee with bitcoin shows that bitcoin had fulfilled its obligation of being a currency. Then we should not bother much where bitcoin is evolving to. It is still a young technology, in the spirit of liberty, let's allow bitcoin to choose its path. We can see that it is leaning more towards an asset than a currency.

[abaeze]

Due to the different government regulations of different countries and the volatility of Bitcoin, many people use it only as a payment gateway. And this reality has to be accepted. Some of the biggest obstacles in the direct exchange of Bitcoin cash are its price, which rises and falls widely in a short period of time, due to which people are afraid to transact directly with it and there is a possibility of loss. But since the supply of Bitcoin is limited and its value will increase greatly in the future, people are using it as a reserve currency and investing in it. It is still being used directly in different places or countries such as: El Salvador. However, only the future will tell whether Bitcoin can be used universally as a direct means of transaction or as a direct currency in the future.

[shinratensei_]

It's already hugely used as everyday money and remittance in a country where the currency is unstable or have high rate of inflation besides stablecoin.
Just wait until there's company that willing to adopt bitcoin payment in their payment gateway to make it available for wider audience.

But since it's deflationary currency people prefer to just hold it which is completely fine in my book;.

[Razmirraz]

Now let's look at Satoshi goal in creating Bitcoin as explained in the Bitcoin whitepaper, in essence, he wanted to create a monetary system that was decentralized, transparent and free from the control of any government or financial institution. In a shorter context, Satoshi wanted to create an alternative currency to the traditional financial system which was considered to have too much third party interference. Regarding the above question, Bitcoin can be used depending on the goals of each individual.

The number of Bitcoins (only 21 million units) available is part of Satoshi intelligence to maintain stability and avoid inflation that can occur if the currency is too much, this concept is very helpful in keeping the value of Bitcoin stable and preventing a decrease in value due to oversupply. The most plausible reason in my opinion is that people prioritize Bitcoin as an investment asset because its scarcity has the potential to increase its value over time.
So, Bitcoin is still an everyday currency depending on the agreement between both parties (seller and buyer), but you also don't need to be surprised why Bitcoin is rarely used as a fiat currency because its value has the potential to increase over time.

[shield132]

If most businesses don’t actually keep Bitcoin, they’re not really using it in trade and they just convert it to fiat instantly. That means Bitcoin isn’t yet serving as a true day-to-day currency, even though some web3 media outlets and payment apps make it look like it is.

In essence Bitcoin has matured into a global store of value, something people save, invest, and hedge with but not yet a fully adopted medium of exchange if the businesses that accepts it don't hold it but immediately convert it to fiat. So really btc is not dual purpose as proposed but leaning more to a single purpose.

Question: Do you think there will ever come a time where we wont have as much volatility as we have with btc now and btc can finally serve its spending purpose truly?

Is it true adoption if the ones adopting don't truly use or hold btc!!!

Bitcoin can't be used every day because, first of all, block size limits us from many transactions and second of all, too many transactions raise the price of the transaction so much that it's not worth buying something via Bitcoin unless you are buying something that costs thousands of dollars.
It's a problem on its own that stores don't accept Bitcoin payments and many who accept, are using 3rd party payment providers and killing the purpose of using Bitcoin. The majority of them also instantly convert Bitcoin to USD instead of keeping Bitcoin.

[Die_empty]

Question: Do you think there will ever come a time where we wont have as much volatility as we have with btc now and btc can finally serve its spending purpose truly?

Is it true adoption if the ones adopting don't truly use or hold btc!!!

Bitcoin could be used differently by businesses. Some business owners are accepting Bitcoin to attract crypto users to patronise them. Since they have no plan to keep it, they convert it to fiat immediately they receive it. But some businesses have set out funds allocated for Bitcoin accumulation. Any Bitcoin received is set aside and held for a long time.

I don't blame these businesses that sell off their coins immediately after it is received. Some of them might have to restock or pay staff and suppliers who might not accept Bitcoin as payment. The volatility of the coin is also forcing business owners to dispose of the coin to avoid losses.

[EarnOnVictor]

If most businesses don’t actually keep Bitcoin, they’re not really using it in trade and they just convert it to fiat instantly. That means Bitcoin isn’t yet serving as a true day-to-day currency, even though some web3 media outlets and payment apps make it look like it is.

You should understand that this is business, and the risk would be too high for them. This is why most of them use B2B arrangements to outsmart the risk.

Question: Do you think there will ever come a time where we wont have as much volatility as we have with btc now and btc can finally serve its spending purpose truly?

I don't want to sound emphatic, which is why I would say it's not likely because Bitcoin's nature is what we see now. So why would it stop if everything is right with it?

Is it true adoption if the ones adopting don't truly use or hold btc!!!

You are mistaken something here. Building a business around Bitcoin doesn't translate to Bitcoin adoption. That's pure business, and not adoption.