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

[harrypaul]

Yes I agree with you, and further more, Bitcoin cannot be printed, it is not physical.
So it could only be converted to fiat, so with that,being peopleannot make us the digital currency would always prefer the first.

 

[Elfinito]

Bitcoin may never become a main source of payment because it is not mintable, Bitcoin operates on the local currency because it is digital.
So it will always need the support of the minted money

 

[Kubiat-Abasi]

So long as Bitcoin remains decentralized, it won't be accepted as a form of payment because it doesn't follow regulations.

 

[Senator]

Yes, the market volatility is one big issue no one is still addressing concerning the streamlining of the cryptocurrency into on mainstream economy. The fluctuating prices unlike the fiat currencies is still a big issue

 

[07Trinity]

To a large extent, i think that we are all hoping that cryptocurrency becomes adopted into the infrastructure of the financial system, however this may not be the case. In my opinion, one of the main reasons that bitcoin and other crypto cannot be a main form of payment is the market volatility. With the price shifting vastly over the course of a day, this can result in a loss to ether the vendor or the buyer depending on whether the price had to increase or decrease. Therefore it is this instability in the price that may be the reason why bitcoin cannot be a mainstream form of payment. Do you agree with my thoughts on this?

You have said it all, Bitcoin volatile nature can either favour the agent or employee dependent on the rise and fall, bitcoin instability is the weakness for business agent.

 

[Odunladeseunvictor]

To a large extent, i think that we are all hoping that cryptocurrency becomes adopted into the infrastructure of the financial system, however this may not be the case. In my opinion, one of the main reasons that bitcoin and other crypto cannot be a main form of payment is the market volatility. With the price shifting vastly over the course of a day, this can result in a loss to ether the vendor or the buyer depending on whether the price had to increase or decrease. Therefore it is this instability in the price that may be the reason why bitcoin cannot be a mainstream form of payment. Do you agree with my thoughts on this?

Bitcoin can't be only main of exchange because not everyone know about Bitcoin and not everybody know about the use of the internet

 

[Essy]

True, crypto volatility might be a challenge when it comes to legalizing money for transactions but there could be a base limit set up for a particular amount of btc, like a face value

 

[Toyoabasi]

To a large extent, i think that we are all hoping that cryptocurrency becomes adopted into the infrastructure of the financial system, however this may not be the case. In my opinion, one of the main reasons that bitcoin and other crypto cannot be a main form of payment is the market volatility. With the price shifting vastly over the course of a day, this can result in a loss to ether the vendor or the buyer depending on whether the price had to increase or decrease. Therefore it is this instability in the price that may be the reason why bitcoin cannot be a mainstream form of payment. Do you agree with my thoughts on this?

The liquidation of bitcoin renders the value unstable, and may therefore not make it suitable as a means of payment.
Another restriction may be government policies.

 

[Nass]

I don't think that Bitcoins can be useful to be paying besides the restrictions of the situation like for China country they banned using all these cryptocurrency as a trades for like other countries is well overdue accepted.

 

[HayKay]

To a large extent, i think that we are all hoping that cryptocurrency becomes adopted into the infrastructure of the financial system, however this may not be the case. In my opinion, one of the main reasons that bitcoin and other crypto cannot be a main form of payment is the market volatility. With the price shifting vastly over the course of a day, this can result in a loss to ether the vendor or the buyer depending on whether the price had to increase or decrease. Therefore it is this instability in the price that may be the reason why bitcoin cannot be a mainstream form of payment. Do you agree with my thoughts on this?

I agree with you 1000% and this has been my message to anyone that chooses to listen. Except there's regulation that helps in the price control of that currency, it wouldn't be acceptable as a general means of payment. Not when I wake up tomorrow and the price has nosedived and investment loses value

 

[Kelly5]

That fluctuations in the prices of all these coins is one possible redone for the back and forth in most countries not yet allowing it into their mainstream economy. If this is not treated, it can actually affect a lot of economic activities

 

[greenie]

To me bitcoins should be the best form of payment and certain website you can come to find out that in every other payment method in a particular organisation bitcoins or cryptocurrency is the most widely used form of payment in most of this online business organisation so everybody day-by-day is adopting crypto as the main payment method. To me cryptocurrency payment is the best

 

[Thinker009]

I think to me Bitcoin is actually going to become main form , because as time goes on people would adjust to the volatility and get used to price action change ,so they could use it for payment online

 

[Toyoabasi]

We can't always predict the future, as for me I can see that bitcoin would be a main form of payment someday in the future, as the signs are already there for all to see. This is a clear fact.

If there's a way to curb it's volatility, then there's every possibility that cryptocurrency will become the new legal tender. The fluctuations in its prices makes it quite difficult to be adopted as a means of payment.

 

[eLdavis]

I think to me Bitcoin is actually going to become main form , because as time goes on people would adjust to the volatility and get used to price action change ,so they could use it for payment online

Hmmm, but what about the countries that still have restrictions on Bitcoin? Which means Bitcoin cannot be the main from of payment, like my country, there is currently a ban placed on Bitcoin and crypto currency in general.

 

[Sotherefore]

There are thousands of reasons why cryptocurrency won't to be considered as a normal mode for payment of goods and services, the first one is always the high volatility that is involved in which your money can easily lose in value within a short period of time
. I do not know how El Salvador is surviving using bitcoins as payment of goods and service.

 

[Laurentta]

You are right, the price of bitcoin is very unstable and it cannot be used as a means of payment. Also bitcoin isn't accepted everywhere so it can't also be used as a means of paymentm

 

[Sincerem]

Well, many aren't still convinced about the authenticity of the Bitcoin and their have been various review but business moguls and several other bodies that sees Bitcoin as a possible scam which will soon crash.

 

[Lens]

The major reason why bitcoin may not be good for making online payment is because of its humongous transaction fees . The high transaction would turn off most of the online payments via bitcoin.

 

[Josephjossy]

Crypto currency in general is now the easiest way of making payments mostly online. And bitcoin is the highest crypto currency in the world right now. So bitcoin will become the best way of making payment in the near future.