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.
Topic: Bitcoin failed as a currency - page 37. (Read 7186 times)
It's so true actually. Bitcoin is a digital currency, but people hardly use that as a currency. Most people who buy bitcoin, use them as a long or short term investment. Only really a few people use bitcoin to transact, buy things and such. Maybe that's also because not many place accept bitcoin as payment, so we don't have lots of choice to use our bitcoin, and because of that bitcoin become investment instead.
Well maybe if it continues like this, bitcoin will be known as digital investment instead of currency. But if bitcoin is accepted more and more and we can really use it to transact and buy things, we can surely use the purpose of bitcoin as currency, not only investment anymore.
Well maybe if it continues like this, bitcoin will be known as digital investment instead of currency. But if bitcoin is accepted more and more and we can really use it to transact and buy things, we can surely use the purpose of bitcoin as currency, not only investment anymore.
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 ?
Maybe your right, some of investor buy more in dump and pump the price, the real value of bitcoin is not seen or show because of many investor use it for investment. the real value of bitcoin when one used it as currency in any transaction or payment. Do you guys think that this can change in the long term ?
I agree that bitcoin is passing a bad time now.but Cant say clearly that bitcoin is failed as a currency.As because bitcoin lauched before like more than ten years it is well known to people and it has huge effect on crypto society and a lot of advantages.Almost a year ago one bitcoin was was a very big amount of Money and people liked bitcoin now for less demand bitcoin has reached in five thousand usd.But still the best crypto currency and untill people are using bitcoin as paymenyt.So it is using as a ccurrency and still its struggling.
bitcoin is not a national currency as we are currently circulating, but in the future bitcoin may become a popular trading tool or exchange that we hope to will achieve such goals
bitcoin is not a national currency but I think bitcoin exceeds that, but bitcoin is a decentralized universal currency with which we manage it without restriction
bitcoin is not a national currency as we are currently circulating, but in the future bitcoin may become a popular trading tool or exchange that we hope to will achieve such goals
I don’t think it failed as a currency. People use it daily to trade and you can use it in certain applications to purchase something. So overall it has come a long way. It’s very voletile but it is also super new. So it will take a while for everybody to get used to it and to accept it.
But they actually trade them as an investment not like a currency right, because the function of a currency is about paying everthing in your life with Bitcoin or cryptos , not using them to buy other cryptos.
Bitcoin still won't considered as fizzled considering the way that it is additionally at the beginning period of overcoming the world. Despite the fact that its fundamental reason presently is to be a venture and not a money, it is as yet supportive to the general population and that is a decent point. A few nations advance bitcoin now, and its a decent begin. Sit tight for it.
I don’t think it failed as a currency. People use it daily to trade and you can use it in certain applications to purchase something. So overall it has come a long way. It’s very voletile but it is also super new. So it will take a while for everybody to get used to it and to accept 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 ?
I think bitcoin has a bright future. Maybe this time few of people use bitcoin as a currency but we know that this is a long term. I believed a lot of establishment will accept bitcoin as a currency like payment for brand new car. Some mall also and foodchain will accept digital currencies.
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Maybe bitcoin is failed as currency because it is difficult to control the behavior of the diversified set of market participants who are playing around in the global cryptocurrency marketplace.And because currency is a convenient and trustworthy medium of exchange and a storage medium for value.
Indeed, now a very visible that bitcoin is used for investment. It can not be denied if bitcoin is more visible as an investment asset than is seen as a means of payment. This is because bitcoins are limited due to state policies that prohibit bitcoin as a means of payment so bitcoin can not function as a means of payment maximally. Bitcoin only performs its function as a means of payment in a country that gives legal status to bitcoin. In a country still banning bitcoin, bitcoin is used secretly. So in my opinion, bitcoin has not been declared a failure as a means of payment when bitcoin is still used as a means of payment.
I don't think bitcoin will be a great success as a currency. Bitcoin does not replace all the functions of money. In most countries, it does not get the support of the government. I think the encrypted world should expand the community so that bitcoin will be more valuable.
Why can bitcoin squeeze gold? First of all, it is worth turning to history. Why did gold become so expensive? One of the reasons is that mankind uses gold for jewelry and some industrial applications, which keeps its deficit. Its extraction was complex and in the Middle Ages, at the time of its formation as a security resource, and to this day it remains a rather labor-intensive process.
I think not, because bitcoin is used for online transactions and bitcoin prices are unstable, but if bitcoin becomes stable it may be possible that bitcoin will be currency, but for now, there is no possibility that bitcoin will be used as currency.
There are people who use Bitcoin as currency, so it does not fail. But that is not a rule and everyone can use Bitcoin because it is better suited to their needs. It may seem strange that people use currency as an investment option
There are people who use Bitcoin as currency, so it does not fail. But that is not a rule and everyone can use Bitcoin because it is better suited to their needs. It may seem strange that people use currency as an investment option
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 a digital currency, which has many advantages and advantages. But Bitcoin is more popularly used as a future investment whose value continues to rise, for now Bitcoin is used as a place to store assets, as well as investment, it is still rare for people to use Bitcoin as currency, because investing in bitcoin is very tempting.Do you guys think that this can change in the long term ?
There are individuals utilizing Bitcoin as money, so it didn't fizzle. In any case, it is anything but a lead and every individual can utilize Bitcoin as it better fits their necessities. Possibly it looks peculiar that individuals utilize a money as speculation choice since we see our customary monetary standards losing value each new day, being unbeneficial to hold, else we would have fiat as a saw venture as well and not exclusively to pay for our necessities.
As long as it's possible to make money out of it, it will always remain some kind of investment. While still some people do use it as currency, especially darknet guys, there always be people taking advantage of it's ups and downs.
Bitcoin is still being used as a virtual currency and has been fulfilling it purpose as a medium for exchange both for payment and services. It has not yet been found wanting in these area. It is also used as store of value which can also be inform of investment. Bitcoin is doing well.
Hey, I don't think Bitcoin should be a standard currency. Because the first reason is, Bitcoin hasn't a stable price. Because it can be changed at any time. Sometimes getting higher and sometimes getting lower. That's the first reason. As well as one Bitcoin (1BTC) has a big value, like 6685 (at that moment). It is a huge value. We cant buy some little thing with Bitcoins. And also, Each and every country has a standard local currency. So why they need another currency for trades. According to this reasons, I don't think Bitcoin will become a standard currency in the world. Thanks.
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