Topic: Bitcoin failed as a currency - page 102. (Read 7191 times)
Although it is not widely used in a lot of countries - you cannot tell it has failed as a currency. People are hardly overgoing changes, especially when they are related to money. Just give it some time and you will see the revolution in the finance world.
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 ?
Bitcoin is a currency, it was last month of 2017 where a big number of people try to use it daily,
this coin was not ready for that mass adoption that is why we failed to maintain the price.
but this year we have enough and ready to go.
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 ?
bitcoin will always be good investment what ever will happen to our world because it is very good coin but that speculation is not so accurate but the chance is very high. but some countries accept bitcoin already and consider as their currency or payment method.
Motive behind the creation may have been to create digital currency without barriers or boundaries. Though people used and are using it as source of transactions. But when people started creating stocks of bitcoin and using it as investment instrument it took new form. Now it is currency as well as investment. Role of speculators made it investment instead of currency.
It is not accurate to confirm this when the future of bitcoin is very good. More and more people know Bitcoin and invest in it. Moreover, some countries have accepted bitcoin and it is considered as their currency.
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 ?
Its all about the progress, people are making more and more coins. For what exactly? if they just use it as an standard web currency for services, transactions, online payments then it could be seen as a currency not an asset for investment. The number of investors are greater than the number of people using it.
It's still early to say Bitcoin failed in terms of being a currency I know fees can be a problem but there's solution to that just give it more time. Not everyone uses Bitcoin as a currency because there's not a lot of merchants that accepts Bitcoin. I sometimes use Bitcoin as a currency but I want to save as much as possible instead of spending it because I don't want to miss the opportunity to profit.
No. Bitcoin is not failed as a currency. It is future currency in the world. in future bitcoin will be most popular currency in the world.
Untill some point you are right that bitcoin doesnt verify all the properties of being a currency as it has no any stable price and for most of the investors it has become a source of investment just . Well if whole world would recognize it as a currency and when bitcoin will be acceptable everywhere than no doubt its stability will be maintained so we can hope to see bitcoin as the future currency because of its secure transactions and no doubt fast
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 ?
In the long term bitcoin can possibly function as a currency. It is really hard for bitcoin to be called fully a currency due to many obstacles and non-acceptance of the public. Though we are already seeing some merchants and e-commerce business that are going to accept bitcoin but the road is still a long way to go. Possibly in 5 to 10 years bitcoin could already be a fully functional currency.
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 also have the same thoughts. Unfortunately, as a currency (a stand alone currency), bitcoin has not fulfilled its function. As a form of asset, many people are into bitcoin because of this attribute. I found nothing wring with this, because bitcoin is still bitcoin and it is up to the users on how will they look on to it. It also has its own purpose depending on the people.
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 ?
No, bitcoin does not fail to become a currency. but the revolution that causes bitcoin doniman to be an investment because part of the asset. we know, everyone prefers the advantage rather than to be a currency. and this will happen continuously as long as bitcoin has a high value
Several governments around the world have already banned initial coin offerings and are looking at strict regulation to bring cryptocurrencies under the control of the global financial system.This crackdown on the digital currencies is largely due to the decentralised anonymity that surrounds cryptocurrency.
Some governments around the world have already banned initial coin offerings and are looking at strict regulation to bring cryptocurrencies under the control of the global financial system.This crackdown on the digital currencies is largely due to the decentralised anonymity that surrounds cryptocurrency.
As long as the price fluctuation for bitcoin still hectic and the volume is still high then i don't think this could be change in the long term, its because people trying to gain profits from bitcoin investment and as long as people treat them as investment rather than using it for transactions purpose then i guess there is no cure for this. However this could change if the price of bitcoin become more stable like USDT then i think it could be used as currency. 
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 dont think so that bitcoin will change in the long term because bitcoin is made to become a currency and it will always be. Many people used it as a form of investment, trading center, form of payment and especially it is also serves as another source of income for those people who already had a job. And I think that is the used of crypto currency. 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 ?
I disagree with you since I myself is using bitcoin as mode of payment when purchasing online, buying game credits in steam, paying my bills and even paying my insurance. It is somehow used as a store of value right now just like gold but bitcoin didn't totally fail when it comes to currency. There are still lots of individuals that are using bitcoin not just only for investment purposes or trading but as well as a mode of payment.
With the lightning network and much lesser fees compared to last year, I think there is an improvement when it comes to bitcoin as a currency but if and only if the time comes that bitcoins supply limit will be reached and the demand to acquire bitcoin increases then I do believe bitcoin at this very moment in time will never be used as a currency but just an investment vehicle or a store of value because I'm pretty sure the value of bitcoin will skyrocket.
Bitcoin is still being used as currency because you can pay in millions of merchants with bitcoin and its still dominant whole cryptocurrency space.
Therefore bitcoin is both investment and currency, in next few years we will have lightening network which will make bitcoin ultimate payment gateway.
Bitcoin might keep on holding speculative value in future too but volatility might get lower down with increasing marketcap.
Therefore bitcoin is both investment and currency, in next few years we will have lightening network which will make bitcoin ultimate payment gateway.
Bitcoin might keep on holding speculative value in future too but volatility might get lower down with increasing marketcap.
Yes! Once the market gets larger (much larger) volatility should decrease significantly. The plus the lightning network will set Bitcoin up for use as a currency. Currently right now with its volatility, people view it as a speculative investment. I do think Max Keiser is correct in stating the price will stabilize at around $100,000 USD.
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. Much will change in the future. Let us wait for Bitcoin to finally reach a certain level of stability and we will see how it will function more as a currency rather than as a speculative asset. It did not fail its function as a currency, mind you. It's just that for now the circulation of Bitcoin is not yet on its fullest that is why huge demands are easily eating up the market, causing the price to rise so big. As soon as the number of Bitcoin owners will grow bigger, the prices will most probably behave.
I would not call it a failure as Bitcoin was never intended as a traditional currency. It was "created" as an electronic payment system based on cryptography and it has succeeded as a pseudonymous decentralized digital currency. Although it may not be accepted by everyone, it is still accepted worldwide as a payment system by thousands of merchants.
Could it be adopted by more merchants in the future? Sure, but personally, I prefer to keep it as an investment rather than spend it.
Could it be adopted by more merchants in the future? Sure, but personally, I prefer to keep it as an investment rather than spend it.
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