Bitcoin failed as a currency - page 20.

derekeaton

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Quote from: brawdias on April 23, 2018, 06:30:57 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'm sure that this will change in the future, already some popular companies and simple Internet shops accept bitcoin as payment. But one can not ignore the fact that at the moment, bitcoin is still more an investment than a method of payment.

msbtrooper

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Quote from: brawdias on April 23, 2018, 06:30:57 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 ?

Bitcoin is used as currency in some quarters but not yet generally accepted as currency because the level of awareness is somehow low. I think in the long run, Bitcoin and the entire cryptocurrency family will get more acceptability. Bitcoin succeed as a form of investment because of the volatile characteristic it has. This makes people buy it at a low price and sell when the value goes up.

hdueuieo123

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Of course, it will change but to what extent is no one sure? If the electronics market is working well, it can change in a positive way.

BitRo

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Semux BFT consensus algorithm

Quote from: brawdias on April 23, 2018, 06:30:57 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 ?

For me, this is not important as long as bitcoin performs its main function-speculative. That is, I like bitcoin as long as it gives me a profit.

CandyIzDelicious

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bitcoin is not suitable as a currency for the country. we consider bitcoin to be a gold investment. In my country many think bitcoin is like gold

Siminarota

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Never BTC can become a currency so it is expected that BTC can meet the needs of human life is not possible, BTC is only suitable for payment between countries.

gundala

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Quote from: ?? on ??

It will change in the future. But for now, we have to bear with that and make some money. Wink I am also with the idea that Bitcoin should finally serve the real reason why it was invented in the first place. But since it has grown so much so quickly, the demand has not stopped a bit. It is only getting higher and higher resulting to an even rising price

Bitcoin has a volatile price, making it quite difficult if used as a currency. Changes in prices that are quite large and tend to be unstable will definitely give a loss, it could be that the current price of a car is 1 btc, but when the price of bitcoin rises, it could be that the car is only 0.5btc. So, I think bitcoin is less effective if used in a payment system related to changes in price. But it is very effective for investment.

vitek_dyb

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Bitcoin and gold have a lot in common as assets. Both are limited in supply, have functional use and are considered by many, despite their volatility, to be good stores of value.Ideas on how to scale Bitcoin have been presented by the Bitcoin Core development team and are currently under consideration for implementation. Bitcoin is independent from government and banks, so no matter how hard these entity can try, they can’t completely ban or avoid Bitcoin.

Walionn

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Some shops take bitcoin as payment, but use it little to buy, bitkoyn is more often used for investment or trading, because its price is very volatile. I think that bitcoin will always grow, the chances for it are still huge.

BTCballa

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Quote from: brawdias on April 23, 2018, 06:30:57 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 believe that no, because it would not be so popular. People still invest and make their own strategies. And in many countries, they start accepting payments using bitcoin as a form of payment. Therefore, bitcoin still remains in the first place as a popular cryptocurrency.

OrangeII

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Quote from: PIMPdev on August 01, 2018, 03:56:03 PM

I do not mind that BTC should be recognized as a real currency, but it's created virtually, so it's best that it stays there. To date, this is a very good tool for earning and paying through the Internet, which is quite normal.

well, bitcoin can't be said as a failed currency, it's because its main function is still being used. well, it's just that there are so many branches of utilization. well, we know that bitcoin is sometimes used as a tool to get profit.

Odonko

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Oh please...do you think it just take a year or two a whole revolution to take place like that! Come on bruh let's give bitcoin the chance of being tested by countries so that can indeed know that they can accept it as a mode of currency to be used for payment. Even fiat currency which is physical takes time for people to get adapted to it how much more digital currency which can not be seen.

Ducpham1991

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No sir, bitcoin is gold in crypto, it will be never die

PIMPdev

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WPP ENERGY - BACKED ASSET GREEN ENERGY TOKEN

I do not mind that BTC should be recognized as a real currency, but it's created virtually, so it's best that it stays there. To date, this is a very good tool for earning and paying through the Internet, which is quite normal.

Varuj

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Bitcoin is a global currency. People can use it as an investment, and as a currency, it has a very diverse and broad aspect of application all over the world.

Yoo

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Yes. I think that can change.
But before bitcoin can become a currency and used for transactions, bitcoin must be legalized first by the state government. Thus bitcoin can serve as a currency and is used as a legitimate transaction tool. And if bitcoin can not be legalized, bitcoin is preferred as an investment.

Baden6

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I think bitcoin cant failed as a currency because how comes that the company of bitcoin will be failed, they are the demand business in this industry because they are the best and all requirements that investors or what is looking for or finding is in the bitcoin company so there’s no reason to failed them as currency. Grin

xuzukami

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Never, the BTC is now only a cryptographic currency that accounts for a small part of the world economy, the MOF has not yet been widely accepted and has not been widely disseminated in some areas and countries.

SaiWAFU

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Quote from: brawdias on April 23, 2018, 06:30:57 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 really does fail as a currency. Stores or shops are very limited in terms of accepting bitcoin for transactions.

No big companies yet have announced for adapting bitcoin transactions in their businesses.

linlinhl

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I think it is because it has a high volatility so bitcoin as a payment would be less effective. Imagine if bitcoin is used mainly as currency everything should be adjusted every hour or span of time to update the prices and value

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