Can Bitcoin Ever Be Everyday Money?

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Bachan

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Yesterday, I posted a topic about btc adoption and how I bought coffee with my btc, here: https://www.blackhatworld.com/seo/bought-coffee-with-btc.1764800/ , I also tried posting on another forum and a user replied me with this:

'' They DON'T accept $BTC, they actually refuse $BTC !!

They just calculate the product price in USD into BTC, take your BTC and sell it instantly into USD...

Could do the same with Iranian Rubel or North Korean coins or videogame points stuff as well...''

It got me thinking, If this actually true, and I sensed it, then are we getting adoption?

If most businesses don’t actually keep Bitcoin, they’re not really using it in trade and they just convert it to fiat instantly. That means Bitcoin isn’t yet serving as a true day-to-day currency, even though some web3 media outlets and payment apps make it look like it is.

In essence Bitcoin has matured into a global store of value, something people save, invest, and hedge with but not yet a fully adopted medium of exchange if the businesses that accepts it don't hold it but immediately convert it to fiat. So really btc is not dual purpose as proposed but leaning more to a single purpose.

Question: Do you think there will ever come a time where we wont have as much volatility as we have with btc now and btc can finally serve its spending purpose truly?

Is it true adoption if the ones adopting don't truly use or hold btc!!!
 
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for now bitcoin is like a safe haven, just like gold. In fact, you may call it the new gold.
But I'd say 10 years from now, bitcoin will be at least integrated in every legit business as a legit way of payment.
And possbily 100 years from now, it will become a national currency for some countries.
 
I think BTC's volatility is the main barrier to its use as a daily currency. For true spending adoption, we'd need much larger market capitalization and deeper liquidity to reduce wild price swings. Currently, it functions better as "digital gold".
 
Bachan said:
Yesterday, I posted a topic about btc adoption and how I bought coffee with my btc, here: https://www.blackhatworld.com/seo/bought-coffee-with-btc.1764800/ , I also tried posting on another forum and a user replied me with this:

'' They DON'T accept $BTC, they actually refuse $BTC !!

They just calculate the product price in USD into BTC, take your BTC and sell it instantly into USD...

Could do the same with Iranian Rubel or North Korean coins or videogame points stuff as well...''

It got me thinking, If this actually true, and I sensed it, then are we getting adoption?

If most businesses don’t actually keep Bitcoin, they’re not really using it in trade and they just convert it to fiat instantly. That means Bitcoin isn’t yet serving as a true day-to-day currency, even though some web3 media outlets and payment apps make it look like it is.

In essence Bitcoin has matured into a global store of value, something people save, invest, and hedge with but not yet a fully adopted medium of exchange if the businesses that accepts it don't hold it but immediately convert it to fiat. So really btc is not dual purpose as proposed but leaning more to a single purpose.

Question: Do you think there will ever come a time where we wont have as much volatility as we have with btc now and btc can finally serve its spending purpose truly?

Is it true adoption if the ones adopting don't truly use or hold btc!!!
Click to expand...
Yeah, that’s a good point. Right now, most “accepting” businesses are just treating BTC like a voucher,they get paid in fiat instantly to avoid risk. So it’s not real everyday use.
Volatility needs to drop a lot before people can comfortably spend BTC without worrying about huge value swings. Until then, it’s mostly a store of value, not a true daily currency. Real adoption probably means both: businesses holding some BTC and consumers using it for actual transactions.
In short, we’re not there yet. It’s more hype than reality
 
They also need money to carry out business. They just cannot keep accumulating the sale amount in btc . If you own a business, you will come to know about all this.
 
Bachan said:
Yesterday, I posted a topic about btc adoption and how I bought coffee with my btc, here: https://www.blackhatworld.com/seo/bought-coffee-with-btc.1764800/ , I also tried posting on another forum and a user replied me with this:

'' They DON'T accept $BTC, they actually refuse $BTC !!

They just calculate the product price in USD into BTC, take your BTC and sell it instantly into USD...

Could do the same with Iranian Rubel or North Korean coins or videogame points stuff as well...''

It got me thinking, If this actually true, and I sensed it, then are we getting adoption?

If most businesses don’t actually keep Bitcoin, they’re not really using it in trade and they just convert it to fiat instantly. That means Bitcoin isn’t yet serving as a true day-to-day currency, even though some web3 media outlets and payment apps make it look like it is.

In essence Bitcoin has matured into a global store of value, something people save, invest, and hedge with but not yet a fully adopted medium of exchange if the businesses that accepts it don't hold it but immediately convert it to fiat. So really btc is not dual purpose as proposed but leaning more to a single purpose.

Question: Do you think there will ever come a time where we wont have as much volatility as we have with btc now and btc can finally serve its spending purpose truly?

Is it true adoption if the ones adopting don't truly use or hold btc!!!
Click to expand...
There are lot of issues with that like privacy.
 
Bachan said:
Yesterday, I posted a topic about btc adoption and how I bought coffee with my btc, here: https://www.blackhatworld.com/seo/bought-coffee-with-btc.1764800/ , I also tried posting on another forum and a user replied me with this:

'' They DON'T accept $BTC, they actually refuse $BTC !!

They just calculate the product price in USD into BTC, take your BTC and sell it instantly into USD...

Could do the same with Iranian Rubel or North Korean coins or videogame points stuff as well...''

It got me thinking, If this actually true, and I sensed it, then are we getting adoption?

If most businesses don’t actually keep Bitcoin, they’re not really using it in trade and they just convert it to fiat instantly. That means Bitcoin isn’t yet serving as a true day-to-day currency, even though some web3 media outlets and payment apps make it look like it is.

In essence Bitcoin has matured into a global store of value, something people save, invest, and hedge with but not yet a fully adopted medium of exchange if the businesses that accepts it don't hold it but immediately convert it to fiat. So really btc is not dual purpose as proposed but leaning more to a single purpose.

Question: Do you think there will ever come a time where we wont have as much volatility as we have with btc now and btc can finally serve its spending purpose truly?

Is it true adoption if the ones adopting don't truly use or hold btc!!!
Click to expand...
There is one big problem with daily use and that is bitcoin takes lot of time for confirmation.
 
Whether Fiat or BTC, businesses need to keep moving the cash. They can't hold much. They trade end products for money and money for raw material, salaries, maintenance, etc. The cycle continues. They won't hold crypto like whales.
 
Bachan said:
Yesterday, I posted a topic about btc adoption and how I bought coffee with my btc, here: https://www.blackhatworld.com/seo/bought-coffee-with-btc.1764800/ , I also tried posting on another forum and a user replied me with this:

'' They DON'T accept $BTC, they actually refuse $BTC !!

They just calculate the product price in USD into BTC, take your BTC and sell it instantly into USD...

Could do the same with Iranian Rubel or North Korean coins or videogame points stuff as well...''

It got me thinking, If this actually true, and I sensed it, then are we getting adoption?

If most businesses don’t actually keep Bitcoin, they’re not really using it in trade and they just convert it to fiat instantly. That means Bitcoin isn’t yet serving as a true day-to-day currency, even though some web3 media outlets and payment apps make it look like it is.

In essence Bitcoin has matured into a global store of value, something people save, invest, and hedge with but not yet a fully adopted medium of exchange if the businesses that accepts it don't hold it but immediately convert it to fiat. So really btc is not dual purpose as proposed but leaning more to a single purpose.

Question: Do you think there will ever come a time where we wont have as much volatility as we have with btc now and btc can finally serve its spending purpose truly?

Is it true adoption if the ones adopting don't truly use or hold btc!!!
Click to expand...
I believe it will widely get adopted after 5-10 years and everyone will be able to pay with it everywhere. But now it works like a safe heaven almost like gold.
 
As a financier, I look at this from the perspective of economic expediency.

Essentially, businesses are not taking on the risk of Bitcoin; they are accepting dollars, using BTC as an intermediary tool. This is not adoption in the sense of “we believe in Bitcoin as a currency,” but adoption in the sense of “we have added a convenient payment method for your niche, removing all exchange rate risks.”

Bitcoin has evolved into a powerful store of value, but has failed (so far?) as a medium of exchange. And the reason for this is volatility.

The time when volatility will fall will only come when Bitcoin's market capitalization becomes orders of magnitude higher and its price stops moving 5-10% from a single tweet by Elon Musk. For now, businesses that have operating expenses (salaries, rent, taxes) denominated in fiat simply cannot afford to hold their revenue in an asset that could depreciate in value in the time it takes to deliver a cup of coffee.

So yes, true adaptation is when both the seller and the buyer voluntarily conduct a transaction in BTC and leave the value in BTC because they believe in its long-term value more than in the value of fiat. For now, we are in a very early, transitional stage where “acceptance” of Bitcoin is mostly a marketing ploy and a technical possibility, rather than a change in the financial paradigm.
 
Yes. It will. Digitally it is being already used to buy many items like games, gift cards, monthly subscriptions, flights, hotels,
If it becomes less volatile there are chances it can become the next cash.
 
Majority of people will most likely keep treating it as the digital equivalent of gold. Especially with the price swings. BTC also has an issue with tx speed & transaction fees spiking, LN does fix this, but that’s another learning curve.
 
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