Bitcoin failed as a currency - page 36.

blue_dragon

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Quote from: brawdias on April 23, 2018, 07:30:57 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 think bitcoin is successful in being a currency because it is being used by many people and that is one thing that has the bitcoin, being popular to our world so that it has a power.

Man From The Future

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Most people have bitcoin as their investment asset, not as currency for payment or transaction process. This is due to the instability of bitcoin price, so people are reluctant to use them. Someday if the bitcoin price is stable, I'm sure bitcoin will be the currency as it should be.

acord00

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Actually bitcoin does not fail as currency. But, bitcoin is struggling to become an acceptable currency worldwide. Not an easy thing for new currencies like bitcoin gain confidence in everyone's heart. Not to mention the state policy that prohibits bitcoin as a transaction tool. Certainly, it is certain that they are not open with new technology. I see that bitcoin already showing progress as currency. Bitcoin creates paper currency and bitcoin sets up multiple ATMs in several countries. Of course this bitcoin effort should be appreciated.

penetrak

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Thanks to the technology that makes Bitcoin work, it is a means of safe and fast money transfer instead of the means of payment. When it comes to transferring value, bitcoin is a premium asset. Whether it's transactions in cents or millions, bitcoin is one of the few means that makes such transfers almost free and instantly around the world. Bitcoin may become a currency in the future, but it would have to accept it globally, so far it is considered an investment.

timmy2toes

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Hi all,

First post, but surely the whole cryptocurrency landscape is to young to call on weather its a failure or not.

Bitcion is still extremely young in terms of currencies of the world. I think in ten years or so we could make a better call on weather its a success or failure.

yusupjatigumilar

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bitcoin fails to become a currency because many countries consider illegal bitcoin if used as a means of transaction, this is because if bitcoin is used as a means of the transaction then it is feared that the country's currency will weaken its exchange rate

zelenkova

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Now more and more organizations and various enterprises are starting to accept payment in bitcoins, but at the same time we can still earn on its growth, thereby it can be called also an asset on which you can earn in addition to payment.

whoisyourking

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Quote from: brawdias on April 23, 2018, 07:30:57 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 ?

This is already attached to bitcoin those investors who really dont know what the true uses of bitcoin they dont really into the signifant value of bitcoin, the only thing theycwant to bitcoin is the value and their profit.

jannatakter

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Bitcoin is not a natinal currency but in the future bitcoin may be a popular exchance we will achieve such a goals.I think it is very successful.

Menthil85

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bitcoin is made as currency, but bitcoin can not achieve its purpose, it can be said to fail to say no, because in some countries also have used bitcoin as a means of payment, for example in online stores, but bitcoin also can be used as an asset for future investment, and the price is also on top of other coin coins, it means bitcoin still has a very bright future for its holders.

Aponkye1

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Well i agree with you that bitcoin has failed as currency which was supposed to be used in our daily lives because most cryptopreneurs are holding it as an asset. But i believe this would change with time as we move from a world of fiat currency to digital currency which would require one to use his/her digital currency. If that happens there would be more bitcoin in the system.

sinta23

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DogData

Quote from: ngefek berat on July 09, 2018, 10:29:37 AM

I think it is still very difficult for bitcoin to be made as a currency in the various of the country because with the concern of the majority of countries when receiving bitcoin is still often the case will result in investors remain patient in the next few years.

indeed every country it was was with this. because they also think that the risk of bitcoin is sometimes very high. so this makes every country anticipate.

ngefek berat

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I think it is still very difficult for bitcoin to be made as a currency in the various of the country because with the concern of the majority of countries when receiving bitcoin is still often the case will result in investors remain patient in the next few years.

12tribes

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Bitcoin did not fail as a currency, no. It was and is still used as an instrument of payment. it will continue to see usage and patronage as the countries continue to embrace it. the bitcoin will continue to find value among crypto enthusiasts and lovers.

mlgblockchain

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Quote from: sader1 on July 09, 2018, 09:53:47 AM

No, I don't think so. If bitcoin failed as a currency why every people talking about it, why it is so famous. I think it is very successful.

Bitcoin sure is famous and to some extent it is successful. Not just successful, it is very successful. BUT, you should realize by now that Bitcoin is not successful as a coin. People all over the world is using BTC but none of them use it as a currency. We might use it as a currency in the long run but I don't think it's going to happen any time soon.

leostrong.mo

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Because BTC's price volatility is too strong, many people think that BTC as a currency is a failure!
This is because BTC has not been accepted by many countries and is easily manipulated by people!
When BTC is accepted by more people and the price of using BTC will be stable!

sader1

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No, I don't think so. If bitcoin failed as a currency why every people talking about it, why it is so famous. I think it is very successful.

Kupid002

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Quote from: buttonmc on July 09, 2018, 09:21:57 AM

I agree that for now it is hard to call bitcoin as a currency, because it is not fully that payment method, but also I want to point out that bitcoin is developing and regulated functions are provided too.

they are working on it as of now to test if this may work well this is may possible to work on that if they may take this bitcoin to be leaglly as a currency well a good news for us isnt.

buttonmc

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I agree that for now it is hard to call bitcoin as a currency, because it is not fully that payment method, but also I want to point out that bitcoin is developing and regulated functions are provided too.

cryptocurrenciesboom

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The Pure Proof-of-Tansaction [POT]

Quote from: Ucy on July 08, 2018, 01:23:24 PM

Bitcoin can be both a currency and asset. It can Infact be anything you want it to be. It is a programmable money not PayPal.
I buy stuff with Bitcoin when I need to. You wouldn't want to starve to death waiting for Bitcoin to increase in value in order to buy some food, would you?
I still buy stuff when Bitcoin increases in value and when it doesn't. Makes no big difference.

Let's say amicably that the first part can be agreed, although here one can argue that if bitcoin is an asset, then why waste it in vain, using it as a monetary means.
But for the first time I see a person who so actively claims that he is spending funds in the form of bitcoin as a means of payment. Can you give any proof, it would be nice to see the checks and the corresponding transactions for them for the last six months?

Topic: Bitcoin failed as a currency - page 36. (Read 7186 times)