Bitcoin failed as a currency - page 28.

rasp

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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 ?

The situation will definitely change, but this process could take up to several years for all the disadvantages of bitcoin to be eliminated.
Now btc blockchain is still slow and expensive. I just hope that enhancements like Lightning will be implemented widely as soon as possible (though there have already been 10,000 active channels on Lightning mainnet as of July 22, 2018).

jak3

legendary

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I don't think Bitcoin will ever become a currency because of numerous of points such as no government like Bitcoin or any other cryptocurrency they see it as a Ponzi scheme or a very risky investment only because it is decentralized and because it is not a stable market so it cannot be used as a currency anytime near. But the one thing that can greatly affect it is if cryptocurrency can be accepted all over the world by every store and business out there.

CryptomartN

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It will be quite difficult for people to change their perception. I am sure most people just want to make money with Bitcoin and nothing else.

dilemamis

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There are people using Bitcoin as currency, so it didn't fail. But it's not a rule and each person can use Bitcoin as it better fits their needs. Maybe it looks strange that people use a currency as investment option because we see our traditional currencies losing price each new day, being unprofitable to hold, otherwise we would have fiat as a glimpsed investment too and not only to pay for our needs.

Adill Islam

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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. Perhaps the future of information coins.

moirasheeran29

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I disagree. Bitcoin hasn't failed yet. it's just 9 years old. We can't say if it will be accepted for what is intended to be or not. We can just wait and see for ourselves and just hope for a positive result.

Pay phone82

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I think its just fine if people see Bitcoin as a investment, its just part of it and they're just making the best out of Bitcoin. For your concern, if Bitcoin stabilizes in the future and became suitable as currency, then people would start using Bitcoin as currency. Its just at the current moment people are just making the best out of the both worlds, Bitcoin as currency and Bitcoin as investment. Lips sealed

Fbi_babs

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First of all Bitcoin is not just a currency but a cryptocurrency in blockchain. To say bitcoin has failed is not the right statement because as it is now bitcoin is actually making wave. And to those who invested sometimes ago now is the time to get your rewards

altcoin4u

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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 can recommend you not to be so fast with your conclusions because bitcoin is vastly known only for two years perhaps, so it definitely need some time in order to get used to all those new things that are coming on.

Asawakobana2017

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Quote from: ParveZ219 on July 24, 2018, 09:32:50 PM

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 was never accepted as a currency... Everyone took bitcoin by watching others making profit by investing in bitcoins...Bitcoins are really accepted as currency when they are used for international trading.. Otherwise people just do long term investment or short term investment for making profit.

I think we cannot surely say that it will be failed. Bitcoin is new as crypto currency but it is now really become amazing. Can we imagine a couple of year from now it bitcoin will continue growing. Maybe this bitcoin will become more big and many big investors will support on it. So I think we don't need to judge bitcoin today because we never know it's future yet.

ParveZ219

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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 was never accepted as a currency... Everyone took bitcoin by watching others making profit by investing in bitcoins...Bitcoins are really accepted as currency when they are used for international trading.. Otherwise people just do long term investment or short term investment for making profit.

tantimutz

newbie

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I agree with you that bitcoin has failed as the currency that should be used in our daily lives because most cryptopreneurs hold it as an asset. but I am sure this will change over time as we move from the world of fiat currency to digital currencies that will require someone to use their digital currency. if that happens, there will be more bitcoin in the system. But bitcoin can also be used as an asset for future investments, and the price is also above other coin coins, that means bitcoin still has a very bright future for its holders.

thet

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elysian.finance

Bitcoin is not failed as currency but it is not yet known by many person in the community but as long as they discover more about crypto they will surely used it too.

muhammedb

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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 ?

Well to me I don't think bitcoin has failed as currency because some people or companies are using it to pay for goods and services. For the asset part bitcoin can't deviate from this because it has been over run by many people.

MacStone

member

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Everybody is now using bitcoin for that kind of purposes, and there is nothing weird with that. We all already know that this kind of things is usual in here, there is nothing new

sammyp

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While I would strongly disagree that bitcoin is no more being used as a currency, I als believe that when the price becomes more stable, many people will patronize it and and everyone will seee that it hasn’t lost its identity as a currency.

nellakarisma

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if I think bitcoin still has not failed to be a currency. but still in the process of traveling to bitcoin received into digital money is legitimate and recognized by the world. because some countries have started receiving bitcoin as currency.

moanna123

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The World’s First Blockchain Core

i don t want to say failed but as all we know the situation of market and for now it is not stable the future of bitcoin but for me on of the bightest future that can have.

Blumenkranz

newbie

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I wouldn't say that it failed, as it stands now only a few has access to bitcoin and I believe that's why some countries are discouraging the use of bitcoins because it's not accessible to the majority. Maybe that's the reason why it gives the impression that it has failed as a currency.

cryptokitty

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Quote from: aleksej.rozhkov on July 24, 2018, 09:33:53 AM

I believe that bitcoin is a new payment system! Now it is not yet adapted to the world economy and less popular in the whole world than ordinary money! but soon everything will change and bitcoin will become legality all over the world and become currency number one!

I am looking for that, a world that will used the digital currency. I hope that someday the payment system in the world is in the form of digital currency wherein we don't have to go somewhere to pay our bills.

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