Topic: Bitcoin as money - page 6. (Read 1140 times)

Bitcoin will be the future crypro if accepted and embraced by a large number of people, its already being used as a mode of payment, but as soon al the governments legalize it completely then it will be used freely as a means of transaction

Agree with your opinion.

If government will implement bitcoins today as a currency on the entire country then i think that people will not really accept that at all since not everyone is capable or earning cryptocurrency but in the future there will be really a chance since other countries are planning the same idea as well.

I think this is the direction we are heading. In few years we will use bitcoin to buy anything we normally buy with other currencies

It is a fact that we need the practical support of this lighting network in order to make bitcoin work smoothly. Bitcoin is still in some parts of the world used as a currency but all these states are usually highly developed ones where people are already switched to plastic money from cash. For them, it is not tough to work with and deal in bitcoin and they are doing so. Rest of the world needs time.

Use bitcoin to buy thing we need for our life, bitcoin can buy us everything and can get high both time,. Potential of bitcoin is allowing us to live a happy life. Bitcoin does not have any bank but it has several wallets like we can save a lot of bitcoin in our wallet so it will grow and will increase with time. At every pump in price bitcoin increase thousands of dollars, so bitcoin is asset and it is money as well,

in my opinion bitcoin is no longer a digital currency as a digital asset, because the price is very high and the cost is also higher

 for almost 10 years this crypto currency has not only been constantly improving, but also to beat all new records at its cost. But if you think about it, what is so curious about it in fact?

It is just differently. I don't think that now we can judge about all advantages and disadvantages but of course there will be both but it is just interesting to imagine

in the future it may be bitcoin can be a legitimate currency and can be used in some places, but bitcoin is a digital currency which of course its use will be different from paper money because it will need inernet to be able to use it and I think not everyone can access bitcoin because it does not have internet facility

Bitcoin as money is what other people think because as you can see, it can be used for transactions. Bitcoin can be converted into cash which means that we can use it even in real life. People keep on saying that bitcoin is the future money, but the thing is, how do we come up with this idea if the bitcoin's value is not stable? It will only affect the individual if there's a sudden drop of value.

Bitcoin is an improved version of credit or debit card which transact faster and more cheaper fees.  Btc can be a money to pay but for now,  ca be used as money on big establishments an those which are capable of transacting with btc.  But the world wont stop here because in the future btc will spell money in all financial  and business centers

I am positive about this, and I hope that soon we will really buy everything for the crypt

Money, as we know, has two functions. It can be used for transactions, or it can be held as an asset. Is Bitcoin then a means of transaction, or is it an asset? Or is it both, as almost all currencies are?
I would argue that Bitcoins cannot be meaningfully used for transactions, except in a very restrictive sense, and hence are not money.
It is an asset class, and speculative pressures explain the volatility of its price. I am restricting myself here to Bitcoins, considering it to be representative of other cryptocurrencies.
The reason that Bitcoins are not used for everyday transactions, unlike all other forms of money, is because it simply cannot be scaled . Any transaction in paper money is independent of any other transaction; it is independent of how many other transactions are taking place simultaneously in the system. It is fully scalable, subject only to the amount of currency in the system.
In the world of digital transactions, decent credit card systems today can handle 60,000 transactions a second. Bitcoin, as it involves solving a hard cryptographic problem, can currently handle only 3 to 7 transactions a second, as each block contains a maximum of 2,000 transactions, and takes about 10 minutes to mine. That means that transaction completion times can be anything from a few minutes to hours, and if it is for everyday transactions, the transaction cost can become a very large fraction of the transaction itself.
One set of transactions with cryptocurrency can still happen in the real world. These are criminal transactions, where anonymity is the key; where those hijacking your computer using the Wannacry ransomware demand to be paid in Bitcoins. Apart from such criminal transactions, there does not appear to be any reason why transactions in the real world should take place in Bitcoins.
Why is the value of cryptocurrencies than yaw-yawing wildly?
As we answered, it is largely speculation. More than 40 per cent of all Bitcoins are held by less than 1,000 accounts, leading to the potential for large market manipulations. Further, with transborder flows becoming important in the age of tax havens, a number of the super rich want to hedge their bets by holding their wealth in different forms: from stolen paintings to Bitcoins.
In the age of global financial oligarchy, the hype in Bitcoins and its wild fluctuations are simply indicators of the increasing criminalisation of the financial system.

Bitcoin as a currency would be a possible alternative for money. You dont have to look hard on your purse for cash just to pay for your food or your clothes. This also like credit or debit card but much more easier because you just have to use your smartphone. Transactions are also cheaper

Opportunity bitkoyna as a monetary unit is possible, pay for purchases, services and in any country, what more a free person needs for in my opinion we needs to wait, the future will not be long in coming.

That's what really Satoshi Nakamoto wanted bitcoin to be. The creator's purpose of making bitcoin is for us to use it as medium of payment to goods and services. But the only problem about it is that you can't transact bitcoin if you don't have any access to the cyberspace. So buying goods during offline is not suitable for crypto, that's is why, fiat still has edge over crypto with that regards.

at the moment this remains just a dream but with the implement of new devs and lightning network it can be possible only if this speculation and manipulation thing can be reduced significantly and price be stable

Maybe in the future because some countries not legalize bitcoin crypto currency. In the other part few of us started to apply it as a payments of online transaction and other businesses. Hoping somehow it will be accepted in the other countries.

We can use bitcoin as a different payment for purchases and also very often I hear that it was used in business.