Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: bdsharminsoltana on September 29, 2018, 09:44:16 AM
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For something that can become a popular means of payment, you need the following:
Store of value: allowing individuals to make intemporal choices on when to spend their purchasing power
Medium of exchange: facilitating the exchange of goods and services by eliminating the inefficiencies associated with a barter economy
Unit of account: acting as a measure of value in the economic system.
Do you think the bitcoin has all three of these elements? I am looking forward to the bitcoin will become a popular payment method in the future.
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According to my opinion, one of the reasons that makes bitcoin popular as a payment method is bitcoin is one of the blockchain-based payments. In addition, bitcoin can make payment transactions easily, cheaply and quickly.
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That's right and I think it's like that that bitcoin has all three elements, and I also strongly believe that bitcoin will have a very good future of payment.
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The foremost method is adoption of bitcoins which can be for investment, payment or any reasons. Secondly is something like ICO more advertising and promotion on attracting people to give it a try and as long as crypto price like btc but not altcoins does not have a big changes of price i believe once they are into crypto they will love crypto. Lastly i think is the wide acceptance of crypto coins by the vendors so those using crypto as payment is able to enjoy the convenience that crypto can give them.
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For a bank transfer or credit card you have to use an exchange platform. the befit of that is you are using a relatively safe place to give your personal information and buy bit and also the price will be at normal lever (cheaper than other options) but the disadvantage would be your bank knowing that you are making a deposit into a bitcoin exchange website and buying bitcoin with it. you may be subjected to taxes.
using paypal, you will have a hard time finding someone who is even willing to sell you bitcoin in return for paypal since bitcoin has no charge back but paypal does. and you will end up buying at higher price.
same goes with cash as far as price is concerned. it will cost more, but since cash is cash you will get the most anonymity possible when buying bitcoin.
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I think because Bitcoin is have a good value and Bitcoin is have a limit.
So when we get a Bitcoin we can hold and wait to sell in a big price, that so profitable.
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number three, I add a little, that bitcoin has done that.
as a measure of value, and now bitcoin is sometimes used to measure the value of altcoin prices, and without that we will not know the price to the FIAT currency, because there is no standard from crypto.
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If you live in a dense city meeting someone in person for cash works well. Depending on your location there might be a bitcoin ATM.
These are usually hassle free transactions when dealing with low amounts.