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Author Topic: How can The People use bitcoin as a currency?  (Read 2289 times)

Offline DAMKAR

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How can The People use bitcoin as a currency?
« on: November 21, 2018, 10:15:49 AM »

Right now, the coin is a great investment asset to earn good profit returns but is not fit to be a currency.

How can The People  use bitcoin as a currency?
« Last Edit: January 12, 2019, 04:18:08 PM by DAMKAR »
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How can The People use bitcoin as a currency?
« on: November 21, 2018, 10:15:49 AM »

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Offline doc

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Re: How can The People use bitcoin as a currency?
« Reply #1 on: November 22, 2018, 10:39:38 AM »
Quote from: DAMKAR on November 21, 2018, 10:15:49 AM
People will only consider using Bitcoin as a mainstream currency when it is completely accepted in the financial market. Currently, the coin is banned from so many countries which is not great for being a currency.
Also, the coin is currently too volatile to be a mainstream currency and hence is not a trustworthy exchange means. The coin has to be more stable for the people to do so.

Right now, the coin is a great investment asset to earn good profit returns but is not fit to be a currency.

In my opinion, when the price is more stable and the demand is so high, I think the people use bitcoin as a currency. Digital era will come soon.
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Offline Nate11

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Re: How can The People use bitcoin as a currency?
« Reply #2 on: November 24, 2018, 09:40:50 PM »
The only people who can use Bitcoin to transact business for now is the Cryptocurrency investors and traders and that can only happen on the crypto space .
Bitcoin needs to be adoptedwidely before it can be used as an payment medium.
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Offline casas

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Re: How can The People use bitcoin as a currency?
« Reply #3 on: November 24, 2018, 09:55:37 PM »
I think blockchains are so secured that it is impossible to hack them. Also, the cost of verifying transactions is less than that of central banks because the transaction of cryptocurrency happens between the two parties without the intervention of a bank.
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Offline Shanacute14

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Re: How can The People use bitcoin as a currency?
« Reply #4 on: November 25, 2018, 02:40:46 PM »
Bitcoin is the most convenient and faster way of transactions. It is easy to use as payments and it is a new form of digital technology.
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Offline mahadev

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Re: How can The People use bitcoin as a currency?
« Reply #5 on: November 26, 2018, 02:47:55 PM »
Quote from: DAMKAR on November 21, 2018, 10:15:49 AM
People will only consider using Bitcoin as a mainstream currency when it is completely accepted in the financial market. Currently, the coin is banned from so many countries which is not great for being a currency.
Also, the coin is currently too volatile to be a mainstream currency and hence is not a trustworthy exchange means. The coin has to be more stable for the people to do so.

Right now, the coin is a great investment asset to earn good profit returns but is not fit to be a currency.

I think It will happen at several years again when the price of bitcoin  is more stable. Bitcoin will be currency. It is my opinion.
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