Bitcoin failed as a currency - page 100.

batang_bitcoin

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Quote from: brawdias on April 23, 2018, 07:30:57 PM

Bitcoin was supposed to be used as a currency, not only a form of investment. However, it's been more successful as a form of investment, a "speculative asset".

As we can see bitcoin became better through being a store of value and speculative asset but it's usage as a currency wasn't withdrawn. I as a bitcoin holder I'm still using it to purchase something that accepts bitcoin in payment.

Quote from: brawdias on April 23, 2018, 07:30:57 PM

Do you guys think that this can change in the long term ?

Base on the example that it went through before this can change in the long term and there are still more to come.

ropyu1978

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Quote from: brawdias on April 23, 2018, 07:30:57 PM

Bitcoin was supposed to be used as a currency, not only a form of investment. However, it's been more successful as a form of investment, a "speculative asset".

Do you guys think that this can change in the long term ?

not according to me, this depends on the perspective of one's judgment. moreover bitcoin has evolved to be part of the asset. as you say.
although basically bitcoin was created to be a virtual currency. but every development can change over time and evolve according to the times

jhache

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What makes you think that bitcoin has failed as a currency? Bitcoin is still in its early stages and has very much development left to do. Do you know how long it took the Internet to become ready to be used as it is currently being used. Disruptive technologies like Bitcoin doesn't get created in a few years but it takes decades for them to become ready.

Vektrum

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Quote from: brawdias on April 23, 2018, 07:30:57 PM

Bitcoin was supposed to be used as a currency, not only a form of investment. However, it's been more successful as a form of investment, a "speculative asset".

Do you guys think that this can change in the long term ?

It's too early to say that bitcoin has failed as money. Recently, it is really less used as a means of payment, but this is due to its accumulated and long-outstanding deficiencies, namely the suspension of transactions and the high cost of commission fees. However, after the release of a new version of Bitcoin on February 26 with the full support of SegWit, the situation has improved significantly and now there are practically no complaints about it. In addition, since September, it is also planned to introduce a network of lightning, which can also significantly improve the situation in this regard. So let's hope that the situation with the use of bitcoin as a currency will change and soon we will be able to use it to make everyday purchases.

troglobait

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Bitcoin has not yet matured enough to become a currency. If the technology continues to improve, it will be used for payment

d_fitrie

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it is necessary regulation from the government to use it legally, if used as currency is not possible because it will drop the fiat currency

Kim Ji Won

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This not true for most of the cases that bitcoin is being used. It's true that a lot of users here only see bitcoin as a chance to earn some money by making a correct and well-timed investment, but in my case, I personally used bitcoin on paying my online transactions although I do know how and when to properly use it given the circumstances of bitcoin and the market.

mjune31

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I think bitcoin wasn't failed of being as a currency,
Instead it becomes the best currency.

basyang

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Quote from: brawdias on April 23, 2018, 07:30:57 PM

Bitcoin was supposed to be used as a currency, not only a form of investment. However, it's been more successful as a form of investment, a "speculative asset".

Do you guys think that this can change in the long term ?

I don't think so, Its hard to tell wheather the bitcoin will change in the near future. Its because bitcoin price is not stable and it is hard to predict. Somehow,I do not think that bitcoin became failed because bitcoin is little by little spreading in many countries.

Utogah

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Quote from: brawdias on April 23, 2018, 07:30:57 PM

Bitcoin was supposed to be used as a currency, not only a form of investment. However, it's been more successful as a form of investment, a "speculative asset".

Do you guys think that this can change in the long term ?

Yes it is! And bitcoin doesn't failed as a crypto currency. Lets say the price goes down and down every single day but we don't know what happen next day it goes up..

Name: Claudio

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If you are a person who adopted changes like a natural day to day living then living with Bitcoin and as your currency then you can't say it is a failure, and not only investment, when people use it to pay it is currency but if you focus on earning then it will become just an investment. Either, what you do anything you use to pay is a currency by the way.

dynospytan

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Quote from: brawdias on April 23, 2018, 07:30:57 PM

Bitcoin was supposed to be used as a currency, not only a form of investment. However, it's been more successful as a form of investment, a "speculative asset".

Do you guys think that this can change in the long term ?

I don't see it that bitcoin failed as currency. We all know that some features of currency is a form of investment also. Even in fiat, some people invested in real fiat to get a profit. It just somehow that digital cryptocurrency has a higher chance to make you more profitable than investing in fiat. Actually, some assets of crypto has became successful and some of them now are used as an payment in other country such as out country which is Philippines.

Washball

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First crypto index traded as a token!

It's not that Bitcoin failed as a currency, it's more that bitcoin is a huge success as an asset. To make it as a successful currency takes time and bitcoin only exists just a few years now. Once transactions get faster and free, it will be used as a currency much more than it is now.

endut15

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Quote from: brawdias on April 23, 2018, 07:30:57 PM

Bitcoin was supposed to be used as a currency, not only a form of investment. However, it's been more successful as a form of investment, a "speculative asset".

Do you guys think that this can change in the long term ?

whatever I think can change with the progress of the times, because the more the times are always changing and erratic, the development can not easily we just know, so we have to wait with these developments.

dancingnancy

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Quote from: brawdias on April 23, 2018, 07:30:57 PM

Bitcoin was supposed to be used as a currency, not only a form of investment. However, it's been more successful as a form of investment, a "speculative asset".

Do you guys think that this can change in the long term ?

It will change when the number of people start using it increase. Still many laymen font have a clue about crypto and the ignorant ones start calling it a ponzi scheme. Currently it's more of an asset as it helps to earn money in the long run rather than quickly. If huge vendors like Amazon start accepytkng btc it will be a huge boost to btc s goodwill.

vitimers

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Quote from: brawdias on April 23, 2018, 07:30:57 PM

Bitcoin was supposed to be used as a currency, not only a form of investment. However, it's been more successful as a form of investment, a "speculative asset".

Do you guys think that this can change in the long term ?

That is a serious issue that most of the current investors ignore because of the huge returns they make with investments. I think that for bitcoins to survive, focus should be on using it as payment medium.

Stac

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How can you say that bitcoin failed as a currency, it can still be used as a digital currency which can be used to deliver products and services in exchange of bitcoins, for transferring money to foreign country it requires more transaction charges whereas if you transfer fund through bitcoins there is no problem as there is only low transaction charges for bitcoins to transfer all over the world. Bitcoins can be considered as a digital currency as well as investment asset. Bitcoins will be in the mainstream of all financial markets within the next ten years time.

YaNinaMurmansk

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You can consider bitcoin as the currency of the future. It is also possible to imagine a collapse when it is over. Perhaps the future of information coins.

Reid

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It will change. I believe that.

The technology changes and people will have to live with that. Did you see how much people now are using online shops instead of going to the department store to buy what they need?
They are also advertised more now, this will help the bitcoin technology too.
There will be a need of one currency that will make everything easier for people and somehow be faster when it comes to payment. Bitcoin will be the solution.

Anti-Cen

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High fees = low BTC price

Quote from: daarul50 on April 24, 2018, 11:29:37 AM

Changes will occur if bitcoins are received by all countries for their community use as a method of payment. How bitcoin can be a currency when countries are still banning bitcoins? It's the thing that makes bitcoin can not go any further and stuck just as a digital investment asset.

But you know it's gambling on the price, lets talk as grown up's and not fools here so as I see it Bitcoin will return to it's roots
which was good for drugs, sex, ransomware extortion and gambling and nothing the government could or could not do would affect the price
and bankers left it alone.

Today it has been taken over, Lightning is just a system of banking hubs that charge fees like a regular bank and a currency that Bitcoin
pretends to be needs stability in the price to facilitate the exchange of goods so roll on the good old days I say and in any case the miners
need to be taught a lesson for ripping us off on the Tx fees a few months back.

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