Topic: Bitcoin failed as a currency - page 14. (Read 7186 times)
I think bitcoin is one of the promising investments that can be converted into local currency. Many have succeeded in investing here.
Bitcoin is used as a digital asset because many countries prohibit people from paying with bitcoin. Some countries like Indonesia prohibit bitcoin as a payment instrument but are legally stored as assets. As time goes by, there is a high probability that bitcoin will become the global currency that everyone uses.
Not a global currency, but a global stable asset
For currency, bitcoin is too slow and difficult to use (compared to other methods of payment). But for the asset it's the number one candidate among all cryptocurrencies.
Although a lot of people are taking bitcoin as an asset but we still can't say that bitcoin has totally failed as a currency because there are already more merchants that accept bitcoin as payment for buying goods, loads and bills payments.
You know that the number of merchants accepting bitcoin is actually decreasing? I can remember reading a post of a german guy who said that Berlin used to be a place full of "bitcoin accepted here" signs and that is not the case any more.
Although a lot of people are taking bitcoin as an asset but we still can't say that bitcoin has totally failed as a currency because there are already more merchants that accept bitcoin as payment for buying goods, loads and bills payments.
Bitcoin is used as a digital asset because many countries prohibit people from paying with bitcoin. Some countries like Indonesia prohibit bitcoin as a payment instrument but are legally stored as assets. As time goes by, there is a high probability that bitcoin will become the global currency that everyone uses.
Not i think. With Bitcoin's current price decline, we all know that now is the right time to buy Bitcoin. This price drop can be a frightening specter for some people.
In my opinion bitcoin has not failed in carrying out its function as a currency. Bitcoin travel is still long. If it is associated with human development, the age of bitcoin is still in elementary school so bitcoin is not teenager and has not reached its peak. Bitcoin is still struggling to become a globally recognized currency. Bitcoin is still struggling with its improvement. Therefore we shouldn't say bitcoin has failed. Everything is still in process. There is no instant achievement.
Looking at world development, majority of transactions (in purchase of goods, shopping etc) is done online. And there also blockchain based shopping platforms in which one can make purchase via bitcoin with additional benefits. So with such, in time come majority will prefer bitcoin.
Bitcoin is too young and we are already expecting it to be a world currency is kinda pressure on it. We need give Bitcoin more time to grow and evolve.
No, I don't think so. Bitcoin is a product. Yes, an old product that is obsolete. Although outdated and cannot be completely repaired, it can still be cared for and maintained its unique value. Where is the unique side of bitcoin? Of course from the supply, the archetype, and also the community that is large and we cannot underestimate. Bitcoin is a mascot, the mascot of blockchain. Blockchain technology is still new and will continue to explore the innovations that exist and are contained therein. 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 ?
Actually the craze of bitcoin increased because of trading and earning only... otherwise people would have not get such interest in bitcoins...After 2017 The whole world accepted bitcoin as a thing which can be traded and get rich...and the people who are making profit are saying that its too easy to get rich which is attracting more people towards it.
Bitcoin is too young and we are already expecting it to be a world currency is kinda pressure on it. We need give Bitcoin more time to grow and evolve.
Bitcoin still have challenges for its one of original mission as global currency, but its greatest victory may be to open the door for other, more-scalable cryptocurrencies. Harnessing the power of the blockchain, projects like Ethereum, which have fewer of the limits imposed by Nakamoto on their own creation, have the potential to spread much wider. Perhaps in a few decades, people will be saving for their digital pensions with bitcoin but buying their groceries with ETH OR BCH. In short, bitcoin will be more valuable than just currency.
Bitcoin did not fail as a currency. It is facing some problems but it will be right soon.
Current situation will change very soon. After that it will behave like a true currency.
Currently BTC is facing some problems but the bad time will gone soon and people will accept it as a currency.
BTC was made to be a currency. That's why people are investing in it.
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, bitcoin is more usable as asset rather than to be currency because fluctuation make it hard to become currency. But lets wait for now, maybe in future bitcoin will more usable as currency.
For now bitcoin failed to become a currency but we didn't know might be in a long run this will become truely a fiat currency to all over the world. Because technology of bitcoin and blockchain will evolve faster as these are now starting its popularity and the users of it are increasing day by day.
Investing in BTC is a long term investment which will help it grow as a currency.
Currently BTC has massive popularity and in future it will also grow.
The unpredictability in Bitcoin is somewhat worried for something planned to be a store of significant worth. However, the straightforward truth is that it is being obtained for theory, and not as a store of significant worth or methods for trade. The quantity of theorists overshadows the quantity of individuals who buy Bitcoin for some commonsense utilize. Hypothesis fits snappy purchasing and offering moves, while individuals who really utilize a cash cling to it. I trust that when Bitcoin use as a useful cash surpasses that of theorists, the unpredictability will diminish.
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