Possible reason why Bitcoin may not become a main form of payment

[BrolySSJ]

Yes you do make a very good point. The volatility in the cryptocurrencies may make the value of something one sold to become suddenly of.less worth before the cryptocurrency might get to the persons purse

Exactly. There needs to be a way that you can easily transact in the stable coins to prevent this loss of funds before it comes to your wallet. Currently stable coins are very high transaction fees associated with them.

 

[Dagm1]

To me bitcoins ought to be actually the very best type of resettlement as well as specific site you can easily concern discover that in intermittent resettlement technique in a specific company bitcoins or even cryptocurrency is actually one of the absolute most commonly utilized type of resettlement in the majority of this on the internet company company therefore everyone day-by-day is actually embracing crypto as the primary resettlement technique. To me cryptocurrency resettlement is actually the very best

 

[Alexandoy]

It doesn't have the attributes of money..so, there is a limit to what it could be used for . Bitcoin as more or less a commodity. You can't use a commodity as a form of payment for a commodity in all cases

It is like saying Bitcoin is not a currency but just a commodity that can be sold and bought in the exchange market. The value changes from time to time that even in 24 hours there is no consistency in the market price. How can you comprehend if the value of the dollar changes every hour?

 

[Setho]

With the way in which every transaction is made to be completely anonymous and the transaction time that is normally takes I do not believe that bitcoin can ever be illegal means of payment for a lot of countries.

 

[Yusuf]

This is true though. I have also been thinking that the Volatility in the crypto currency exchange Business will make it very hard for company to adopt it as a means of payment since the price is not stable.

 

[BrolySSJ]

With the way in which every transaction is made to be completely anonymous and the transaction time that is normally takes I do not believe that bitcoin can ever be illegal means of payment for a lot of countries.

Bitcoin is not actually as anonymous as people believe it to be because of the fact that you are able to have a record of the transaction on the blockchain website and this can actually allow them to track the cryptocurrency transaction however I think that this is still in its preliminary stages.

 

[Alexandoy]

Bitcoin is not actually as anonymous as people believe it to be because of the fact that you are able to have a record of the transaction on the blockchain website and this can actually allow them to track the cryptocurrency transaction however I think that this is still in its preliminary stages.

You are right. There is the popularity of the Bitcoin but it is just a popularity for now. Even if some shops are accepting Bitcoin for payment I am sure that it is in the experimental stage only. Bitcoin is a commodity just like gold or silver or any other item that you can see.

 

[eLdavis]

You are right. There is the popularity of the Bitcoin but it is just a popularity for now. Even if some shops are accepting Bitcoin for payment I am sure that it is in the experimental stage only. Bitcoin is a commodity just like gold or silver or any other item that you can see.

Indeed you have some points here, though it is popular and used by a lot of persons it does not fully mean it has been accepted by all, it is just a commodity for now

 

[akinlolu99]

The explanation is the immense exchange expenses for me. Indeed, even presently I rather utilize different coins in light of the fact that Bitcoin expenses are a lot for me. I think this will be one of the elements that might stop the chance of Bitcoin to be broadly used as an installment.

 

[Justin]

Not all people can accept that your funds might drop 10-15 percent over night. This is the reason why I don't see bitcoin an all other cryptocurrency become Everyday money.

 

[BrolySSJ]

You are right. There is the popularity of the Bitcoin but it is just a popularity for now. Even if some shops are accepting Bitcoin for payment I am sure that it is in the experimental stage only. Bitcoin is a commodity just like gold or silver or any other item that you can see.

Most of them are just trying it out at this point and they are unsure how it will affect their sales and their income and the stability of their financial portfolio as well. So i think that if this experimental phase goes well then it could prompt other businesses to get into it as well.

 

[Jlife]

The reason might be because bitcoins has a higher volatility and sometimes people can be at lost if they are not selling it off immediately, because of the volatility that make it unsuitable.

 

[mcjerry]

Bitcoin can never be used as a major currency of any country. Because of it is uses as a major currency in a country then it will means that the country has no value for there own coin

 

[btaliat]

I don't see any possibility of any crypto becoming acceptable means of payment. The reason is that we stil have majority of the people that are ignorant of crypto

 

[Bousine123]

I see where you are coming from my friend. But Bitcoin and other cryptocurrency tender are still trying to find their balance. So countries should not be in a hurry to adopt them.

 

[Sotherefore]

It may be impossible for cryptocurrency especially high-volatility cryptocurrency to be considered as a normal mode for payment because of the extremely volatile nature of them.that is the reason for me to think it is not possible.

 

[tyrim88]

Yes the price of bitcoin very unstable and will keep rising as the years advances. And no govt will want to exchange fiat currency at the price bitcoin is trading without some level of regulations.

I think we have started experiencing some aperty from the side of government on the full implimentation of cryptocurency as a mode of doing transaction.The decentralise nature is what most government do not like.

 

[Senator]

One major possible reasons I see why Bitcoin might not become a general or major form of payment adopted by governments is because of it's volatile and unstable nature. This kind of situation will affect contract values and affect things negatively

 

[Nomad]

Bitcoin transactions are expensive. In the last 24 hours, the average transaction cost for Bitcoin is $2. That's a lot of money going for transaction cost. Bitcoin also takes time to process.

 

[Shigobad2020]

The volatility of crypto currency coin will never allow bitcoin to be the mainstream for payment in the world because its always fluctuating and that will not make it possible.