Quote from: SummerBliss on December 30, 2019, 06:29:18 AM

Quote from: TimtheYoutuber on November 11, 2019, 03:41:14 PM

Full article: https://www.forrestvisions.com/blog/people-are-underutilizing-bitcoin

People need to start accepting Bitcoin and keeping it, not converting it.

If you think of Bitcoin as just a virtual placeholder for fiat currency, stable coins will be the future and Bitcoin will slowly fade away.

Thoughts?

But the problem is with the utility. People are ready to spend their Bitcoin without converting it to Fiat. But where are the options? There aren't much merchants or vendors ready to accept btc as payment. Even if they do, they will most probably convert it to fiat. The high volatility it comes with is not sound for any stable business. These are the underlying issue because of which btc is more of an investment asset which can be converted to fiat for any use. It hasn't evolved as a currency yet.

There are people that are now willing to use bitcoin and the problem is the business that are still not ready to accept bitcoin. There will no mass adoption that will happen if those merchants are still focusing to use traditional payment system than the current payment system. Our economy will boost more if we will use cryptocurrencies, there are also a lot of advantages that they can get from accepting bitcoin and using it. There are just not aware so it is the reason why for them fiat is still the best way to use.