Reasons why bitcoin may not become an everyday currency

[Naha62 752]

One of the biggest reasons for this is its expensive look because we can't do bitcoin transactions daily nor can we do small things.These extreme fluctuations and price increases for everyday life payments can be a hassle for both buyers and sellers.

[Lina52 143]

It will become only if the government of that given country adopt it.If bitcoin would be an every day currency then there is no opportunity for making profits.I think we are only halfway to the stability of cryptocurrency trading.

[Stiffen white 827]

I think bitcoin is using on daily base . So many people are making transactions on bitcoin. So we can say that we are making bitcoin transactions as daily base use of bitcoin. An other meaning with the modren age and use of technology bitcoin can be use as daily base. 

[Munirkion 82]

Yes I believe in all the reasons you listed but the most quality one out of all is the issue of the higher price bitcoin do have in the market not all Marchant will be able to cope 

[godislovefll 1880]

It makes a lot of sense really, because as it is thought, being volatile it has a lot of risk to be used daily so then we can think that a stable cryptocurrency would be used and not BTC or currencies where its price varies, I always thought that BTC would be used worldwide but this is a problem with its volatility for users.

[Obliv0n 333]

The problem will always be volatility, if bitcoin or any cryptocurrency wants to enter the fiat currency market, the price must be stabilized in such a way that everyone maintains the security that they will not lose money, I also hope that bitcoin becomes something of the day a day, however as much as possible that stablecoins are those who reach the physical environment.

[Lokeloke 576]

On 11/18/2020 at 10:07 AM, BrolySSJ said:

Ray Dalio is a billionaire, and according to him, bitcoin is too volatile and as a result of this volatility it would not be a good currency to use for everyday use. This makes sense, as the volatility could result in a loss to the buyer or the seller depending on which way the market goes over the course of the days that the transaction takes place. Furthermore, the acceptance by banks and governments will be a challenge, as it may serve as a competitive currency with them. Lastly, with bitcoin price being so high, could there be a downward trend coming that we are not yet prepared for? 

 

I wonder what the content will be when I see this title about us not spending bitcoin as our normal currency but seeing this point I was convinced, the volatility of bitcoin cannot make it be like normal currency, the price may change today and become another thing tomorrow, that's why it can never be used

[Mishi Lorana 717]

On 11/18/2020 at 2:07 PM, BrolySSJ said:

We all want bitcoin to become an everyday currency and something that we can use at all merchants. In fact with the ease in which we can transact with bitcoin and the other crypto, it would be a great tool for online payments as well, without us having to worry about identity theft and the like. However, according to a recent article that was published, Ray Dalio says that bitcoin may not become this integrated as we are hoping for it to be. 

 

Ray Dalio is a billionaire, and according to him, bitcoin is too volatile and as a result of this volatility it would not be a good currency to use for everyday use. This makes sense, as the volatility could result in a loss to the buyer or the seller depending on which way the market goes over the course of the days that the transaction takes place. Furthermore, the acceptance by banks and governments will be a challenge, as it may serve as a competitive currency with them. Lastly, with bitcoin price being so high, could there be a downward trend coming that we are not yet prepared for? 

 

What do you guys think? Are these legitimate reasons as to why bitcoin will not be adopted fully? It makes sense to me, especially the reason of volatility, however, I have to admit that despite this i still am hoping for crypto to become a major form of payment in the future. 

Hello my friend, Ray Dalio is saying absolutely right according to my thinking. Because Bitcoin is a digital currency and it is very secure digitally. If it becomes a physical or a regular currency it's security might not be remains as much powerful as now.

[Tolani 174]

well,  even now I do not think that it is already an everyday currency,  because it is not used by everyone,  it is just a currency that is used by only the literates , so it would not be a everyday thing. 

[MonaAhmad 146]

Yes, it would be great if we use cryptocurrencies on a daily basis, but the currency must be somewhat stable, for bitcoin it will be difficult because of its instability and the large price discrepancy from day to day against the US dollar

[yulitzacalvete 1366]

What an interesting point of view and it seems very necessary because I see that if a country establishes a specific monthly salary they cannot pay with cryptocurrencies that their prices vary, therefore it is much better to use a cryptocurrency with less volatility, in binance there is a BUSD call that It is intended to be stable so as not to depend on fiat money.

[kryptonick 2659]

I remember reading a post in the About section of Cryptotalk, where a member was accussing Cryptotalk for not giving ground to arguments against Bitcoin. This and many more posts by Broly are an example that this doesn't happen.

It is not a FUD post, it has constructive criticism as the rest I have read and after some time doing research, we all have the same arguments and questions. Bitcoin is not perfect but it is versatile, and adopts during macro scale economic situations where other assets don't. Not having the ability to scale and being used for daily processes, is known since Bitcoin was created. It was looking that it could work for a couple of years, but since 2013 it has stopped being used for payments and became a class asset where accumulation was the main concern of everybody.

[othmanmosaic2 107]

It is true that we can't use bitcoin for everyday buying and selling and that is because of its volatility. Bitcoin will I my be good for investment and trading purposes. Stable coins will be much more better for normal buying and selling as there price barely drops.

[wisesaba 49]

Yes that is right... That is what everyone wants but it's votality of the coin is what must be considered and look into and also the fastness of the transaction and Bitcoin will b nice currency

[Merry Cherry 670]

I think the main reason of this is high value of this currency in market and by daily use of it there will be very less chances of getting profit and also the main reason is that many countries yet didn't accept it so we cannot say its possible now but we can say that may be in future it will have chances of this.

[Zulqar1122 98]

Yes people have their own perspective  in regarding the bitcoin situation ...now the bitcoin is becoming the form of digital currency .

[Success06 537]

I believe we are only halfway to cryptocurrency trading stability, and I believe that before Bitcoin becomes a daily use cryptocurrency, it will first serve as a general reserve currency, because none of us who acquire Bitcoin want to get out of it quickly.

[mhd tello 639]

In the coming days, cryptocurrencies will be the leading and most widespread in the world
Regardless of whether it is Bitcoin or others, it will be a cryptocurrency and the currencies will be abolished forever.

[Tomy2 375]

I definitely agree with this. The volatility of Bitcoin will cause so many problems in the world market. Also with the traffic that keeps increasing on the network making Bitcoin to be very slow when sending this might be another reason Bitcoin will not be used as the main daily crypto

[Dadouasaad123 902]

I do not think that Bitcoin will decline much, we saw on the halving how the value of Bitcoin decreased to $ 3,500, and it rose again, and now it reaches $ 60,000, which is a fictional peak for him, the large fluctuations in the price of Bitcoin make it not useful for daily trading, but if you want a long-term investment Bitcoin is the ideal.

[Maria karam 667]

My friend, Bitcoin can become like gold with respect to cryptocurrencies, as it is similar to the asset preserving value despite the fluctuation of its prices, but it always returns to the rise, so we can use it for investments and then transfer our profits to USDT, which is a fixed currency that can be used in payments without worrying about price fluctuation.

[Zein21 839]

In my opinion, the only reason for not spreading cryptocurrencies properly in order for it to become the currency we use in daily uses is the unwillingness of the leaders in the great countries because they do not want a currency that they cannot control or pursue.

[hghadeer611 689]

This is true. Cryptocurrencies cannot replace paper currencies in trade, in addition to the reasons that you mentioned, there are many people who do not believe in these currencies and do not know anything about them.

[Pereira 2303]

Certainly bitcoin has a lot of volatility for its daily use, this is why stablecoins would be used to be able to use these cryptocurrencies on a daily basis and be closer to the trade, for this the trade is growing greatly to have a great future, for this is that Cryptocurrencies such as tokens, altcoins, stablecoins, security tokens and so on others have diversified, for this reason there is as much diversification as are decentralized and centralized ones.

[Moon87 798]

In my opinion, this may be a good reason, but do not stop dealing with currencies in general. The buying and selling process must continue regardless of the rise or fall of the financial market