Topic: Bitcoin failed as a currency - page 101. (Read 7191 times)
It has since being an investment vehicle is the most viable use for bitcoin right now, and while people can, they would capitalize on its success and try to profit from it as long as its available. Though there isn't any problem on using bitcoin as a currency, it's just that there aren't any places to spend them that's why it's ending up being an investment, and due to its successes on the previous bull runs, many people think that they would be able to replicate the success of others by investing and 'going in before everyone else does'. Once merchants accept bitcoin, there would be a boom in the use of bitcoin in transactions and people *might*, for the first time, use their coins into spending rather than HODLING.
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 ?
Do you guys think that this can change in the long term ?
Maybe it has failed at some point but the failure will not sustain for a long time . Many governments have accepted bitcoin and they are planning to use it as a mode of payment as well . Many online sites accept bitcoin as payment and many more are yet to initiate this .
It always takes time for new things to settle down in the old means of working . Fiat has been the part of us from forever . Settling for bitcoin as one of the prime mode of transfer as a currency will take some time.
Yes, Bitcoin is payment system at its core and we should not use it as a speculative instrument in the first place. However, I believe that we are still in the basic phase of development and it would be far early to jump to any conclusion. I am expecting the market to adopt cryptocurrencies in the coming years and we should really think about that aspect and work in that direction. Things are still in the grey area and it needs time to inculcate the habit of using it as a payment system.
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 ?
Do you guys think that this can change in the long term ?
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.
Do you guys think that this can change in the long term ?
With what majority can see on the best use of bitcoin then this can change for long term but still why are we worrying of this?If bitcoin is good as a form of investment (long term or not) then so be it. There are still that uses it mainly as a way of payment and exchange for goods and other types of services that we can avail online.
Just like fiat, it is used not only as a currency but it's also used for another type of investment such as lending.
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 ?
Bitcoin plays any of the roles of a currency and an asset and that makes it unique. Irrespective of how high the value or price of bitcoin goes, it can still be used to patronize goods and services from some companies, shops, organizations or merchants who accept it. Bitcoin is also regarded as an asset by some people because of its value and this increases with time. Anyhow you see it, Bitcoin still provides the decentralized model of transaction which is leading the world to a revolutionary era of owner controlled financing. Do you guys think that this can change in the long term ?
I believe the price is not stable because its used for online transactions, so price regulation can change, but bitcoin has not failed yet
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, not matter what are they using bitcoin for, but it help attract more and more people about bitcoin. It will be more like a currency in future. Do you guys think that this can change in the long term ?
Bitcoin was created a long years ago but it stay popular only for 2 years, and all still ahead.
I am sure in the future we see not only one LN
I am sure in the future we see not only one LN
It is possible but it would take a good amount of time for BTC to become a globally accepted form of payment method. It is surely sparkling out in the mode of an asset since it has reached a price of $9k(current price) from almost nothing. This has attracted many IT industries to accept it as a source of payment but it's volatility and high fees is creating issues to many people. Unless and until the issues gets fixed , I don't think it will be reliable to use BTC as a payment method.
bitcoin fails as currency, we may be missteps or not according to the customized rules of the project or our project leader that we follow.
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 ?
Do you guys think that this can change in the long term ?
I think that as another benefit of bitcoin, other than as bitcoin currency can also be a profitable investment. And though bitcoin is used as an investment but it does not eliminate the use of bitcoin as a currency, and in the future bitcoin will be the currency of the future.
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?
Do you guys think that this can change in the long term?
Yes you are right that Bitcoin was supposed to be used as a currency and not only a form of investment alone and in fact, I was expecting the Bitcoin to be used as a physical coin similar to that of gold coins which would exchange in order to get local currency value according to the current trading price. But according to the people's choice, the Bitcoin was liked for its speculation movement similar to other assets and because of that reason, the value of the Bitcoin is going higher day by day.
Bitcoin have not failed as currency. We will start using bitcoin for goods and services when bitcoin is widely known and accepted by organizations ,merchants, companies and industries.
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 ?
Bitcoin has merchants and it is also used in online payments.Some big companies like alibaba had introduce the existence of bitcoin in our country.Although it is not known in some parts of the world most especially those poor countries that cannot easily access bitcoin.As it will continue to grow this would become the source of income to some.It is currently used as an easy way of making online transactions and i think that bitcoin doesn't failed its purpose as a currency but it gives us another options on how to use it. Do you guys think that this can change in the long term ?
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 ?
for now bitcoin has become a currency (crypto currency) even though bitcoin is not the currency of a country but bitcoin has been used as a legitimate payment instrument in some countries, not just as an investment tool Do you guys think that this can change in the long term ?
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 ?
For now I don't expect much for new currency such as bitcoin, bitcoin need to be spread evenly so the price could be more stable. The volatility of bitcoin makes merchants afraid to adopt it. But in long term bitcoin could be more stable, bitcoin is not failed but didn't success to be acceptable currency yet. We only need to wait for longer to see most of merchants in certain countries accept bitcoin. Do you guys think that this can change in the long term ?
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 ?
Do you guys think that this can change in the long term ?
sad reality is that it is. Some people see bitcoin as investment product rather than service. A lot of companies have opened for bitcoin but users have not used it for its main purpose.
Well, for most people, bitcoin does look like a promising investment. but, I think bitcoin does not fail to be a currency. there are still a lot of people who use bitcoin as currency, or transaction tool. moreover there are so many advantages that bitcoin has in it.
It is true that bitcoin is more in investment than its role as a currency, but I am sure that one day it will really be a transaction tool like fiat money.
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