What if Bitcoin never becomes everyday money?

[sfjordhalvson]

Besides volatility, the government is also a obstacle. They will not easily allow a currency not under their control to be used on a large scale. That would make it difficult for them to manage both the population and the economy.

I do not see anything wrong with us not using it for its original purpose. Because there are many thing beyond our control. Just because we want something does not mean the government and the market will allow and accept it. What we can do is adapt to all changes.

govenment control is definitely one of the biggest challenges for bitcoin adoption they usually prefer systems they can regulate, so something full outside their control will always face resistance. so not everything in crypto will be used exactly how it was originally intended markets, rules and governments all shape how it grows. so the best we can do is adapt and use whats available, while understanding the risks and limitations.

[Cookdata]

Bitcoin's transaction speed is normal and stable. However, compared to bank payment systems or altcoin, it is significantly slower. In reality, Bitcoin does not compete with them as an everyday payment method because users need a fast payment method with low transaction fees, or even free.

However, for cross border transaction, Bitcoin proves superior in terms of security and self sovereignty. We do not rely on intermediaries and avoid transaction control or freezing when using Bitcoin.

Bitcoin is faster but it's on off chain and when transaction are completed, they are settled on the main chain. The problem we have with lightning network is adoption compare to other shit chain. If you ask me why most of this chain get transaction than Bitcoin lightning network is because many are there because of the return altcoins gives them. If you remove the gains altcoins give them, they will stop using most of them, check some of the alts gives returns and no longer generating fees again.

There is nothing like Bitcoin will never be any days money, as long as there is value attached to Bitcoin, there are people that are going to accept Bitcoin. There are countries that are using Bitcoin to avoid some superior countries. You heard how US government sieze stable coins of some countries, lowkey countries that are avoiding them are  doing using Bitcoin to avoid the US trouble, even individuals used Bitcoin everyday. The idea it will die as money is nonsense.

[Peanutswar]

Besides volatility, the government is also a obstacle. They will not easily allow a currency not under their control to be used on a large scale. That would make it difficult for them to manage both the population and the economy.

I do not see anything wrong with us not using it for its original purpose. Because there are many thing beyond our control. Just because we want something does not mean the government and the market will allow and accept it. What we can do is adapt to all changes.

govenment control is definitely one of the biggest challenges for bitcoin adoption they usually prefer systems they can regulate, so something full outside their control will always face resistance. so not everything in crypto will be used exactly how it was originally intended markets, rules and governments all shape how it grows. so the best we can do is adapt and use whats available, while understanding the risks and limitations.

It will become control of the government only if you are using your local services came from the government manipulated such as an exchange or even wallets. Most of the people nowadays are now using crypto payment such as bitcoin direct to the terminals and even a casual payment into other services or people so now if this will become adapted thats the time the government will seek other things just to make sure that the funds are safe and clean and thats the time they will implement an AML checker with their terminals if ever or seek a KYC from the wallets or exchange to make sure they are a legit person which is against with the real purpose of the bitcoin but for an adaptation you might think twice here.

[Satofan44]

Did you even read the bolded part?  You are fast to point about failure of understanding Bitcoin but failed to comprehend what you are replying with.

Yes I did, you both are pretending that you know Bitcoin and parroting bullshit about Bitcoin. It is working as designed and is superior to anything in existence, any other claims are false. Luckily for you, this forum is run by a liberally sick individual who considers writing such idiocy as substantial posts. In any other environment you would be swiftly removed. 

I think that right now, Bitcoin can be viewed as an investment asset that has the potential to generate profit, as well as a way to preserve capital against inflation.

Correct, and it is important to always note that those two things are separate concepts. Often people confuse these two.

Using Bitcoin as everyday money is difficult mainly because of its volatility, and I think that for daily transactions people will still prefer fiat currencies, which are less volatile even though they gradually lose value over time when simply held.

False. People are using the currencies that they are using because they have no choice, they are legally mandated and not because they have low volatility. The current volatility of Bitcoin is lower than the volatility of most fiat currencies aside the top most stable ones. Therefore to claim this nonsense in the current year is wrong. It has been true in the past, it is no longer true.

But even though we’re not using Bitcoin exactly the way it was originally intended, I don’t think there’s anything wrong with that, because financial instruments can evolve and adapt to real-world conditions.

Also false. Just because you are not using something in every way that it can be used, that does not mean that something is "evolving". Bitcoin can be used as a payment method or money today without any issues. Those that claim otherwise are misleading and writing false nonsense. I use it as a payment method whenever the opportunity comes.

Bitcoin is faster but it's on off chain and when transaction are completed, they are settled on the main chain. The problem we have with lightning network is adoption compare to other state chain. If you ask me why most of this chain get transaction than Bitcoin lightning network is because many are there because of the return altcoins gives them. If you remove the gains altcoins give them, they will stop using most of them, check some of the alts gives returns and no longer generating fees again.

What the fuck is the statement in bold supposed to be? Compared to "other state chain"? What is that supposed to be, other blockchains or shitcoins? Lightning is more adopted as a payment method that any other altcoin, it does not even come close. I have never seen a shitcoin being accepted somewhere exclusively in person unless they have a method that allows them to accept most main cryptocurrencies, but that does not count.

[Cookdata]

[....

Lmao. Auto correct. shit chains..

State chain?? Your reaction is valid.