Bitcoin failed as a currency - page 42.

Gummybear67

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Quote from: Ayasena on July 02, 2018, 08:32:29 AM

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.

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 agree, the failure of bitcoin depends on how a person use it but as we can see it is continuously used by many so right there and then it is a proof that it didn't fail as a currency.

Wyne

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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 agree with your observation. Supposedly, bitcoin will be used as a currency but as what we experience right now, people keep holding it and consider it as an asset that is good for long time investment. Even many establishments nowadays also accept bitcoin as a currency, the number of people with a mentality that in the future it will have an intrinsic value is greater than those people who consider it as a good choice to use as currency in their daily transaction. As the time goes by and more establishment will accept it as a mode of transaction, I think people perspective on bitcoin will change and use it as currency as well.

Ayasena

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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.

Kupid002

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Quote from: BigBos on July 02, 2018, 08:27:17 AM

Quote from: polyballz on July 02, 2018, 05:44:16 AM

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 not answer now, because the fact is bitcoin is more popular as a lucrative investment tool. but for the future I'm sure bitcoin can be a currency that is received around the world because of the features that offered bitcoin very beneficial users.

if you can not answer that now, I think it will be the same with the future. Well, right now, people are less in using bitcoin as a currency, but most use it as an investment tool. but, I feel it is not a failure, it's just a matter of time.

well this is not to be actually as a failure for this currency cause as an investment that they can actually used this for this is just to win for and we all know that most of the time people tend to make this in some other way too.

BigBos

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Quote from: polyballz on July 02, 2018, 05:44:16 AM

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 not answer now, because the fact is bitcoin is more popular as a lucrative investment tool. but for the future I'm sure bitcoin can be a currency that is received around the world because of the features that offered bitcoin very beneficial users.

if you can not answer that now, I think it will be the same with the future. Well, right now, people are less in using bitcoin as a currency, but most use it as an investment tool. but, I feel it is not a failure, it's just a matter of time.

Larah Catipay

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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 ?

In near future there might be chance. We need to expand our people so the voice our goal must heard.

joshua0502

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Bitcoin was used by different countries, they accept it's value and as digital coin.
Also bitcoin can be use as investment with a small amount, things like this, bitcoin can be well-known with a successful image.
One of the reason why it's failed to become a curreny, there's still countries that do not accept bitcoin, some of them blocking the crypto currency in their country.
Another thing is, some of us use the name of bitcoin to scam others, that is why this one of the reason many countries against bitcoin or in the crypto currencies.
But if bitcoin accept by all the country I think it would be a help for others.

polyballz

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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 not answer now, because the fact is bitcoin is more popular as a lucrative investment tool. but for the future I'm sure bitcoin can be a currency that is received around the world because of the features that offered bitcoin very beneficial users.

Chulahk

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Quote from: Briella18 on July 02, 2018, 05:21:40 AM

I don't think so, not matter what are they using bitcoin for, but it help attract more and more people about bitcoin. It will be more like a currency in future.

Indeed thats why I strongly disagree with its thought. Yes maybe, there are some times that Btc value drops, but still it can assure that it will rise again and take back or even more bigger value back. Bitcoin is known to be the first ever virtual currency and the best top leading coin from the start until now. In this case, it can assure that it can improve what it lacks and get greater value soon. But to make everything possible, its plans and management, we must continue helping and supporting them.

Briella18

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I don't think so, not matter what are they using bitcoin for, but it help attract more and more people about bitcoin. It will be more like a currency in future.

nikonova

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bitcoin is still young. it still is an asset for now. i think the future will give as more stable crypto market and at that point bitcoin and other crypto can be used as curremcy

kamoto

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no, bitcoin is fine. I do not understand this whining at the expense of the fact that it costs little. Yes, it's not 20,000+ as it was in the best of times, but sooner or later the market will rise ... so I do not understand the general panic.

millytr

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There are many small and big retailers in this world accepted Bitcoin as a method payment so i don't agree with your point at all.
I know Bitcoin right now is more considered as an asset then a currency but actually it does have the function like a currency.

setialovers

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Bitcoin not fail as currency. Adoption on cryptocurrency still running and process and it take a long time. As an investment, bitcoin can be used for currency too because we can trade with small amount like mBTC. Its more flexible than gold and i think bitcoin can used as currency and what we need is regulation from government

cryptostardom

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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 ?

Of course this can be changed. If the price gets more stable and break free of volatility and if the coin increase a lot more in popularity and acceptance to promote its real life usage then Bitcoin can sustain as a currency.

Prince Malik

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The only reason make bitcoin as only a form of investment in the fear of people and governments from the unknow

keninu

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Bitcoin has not worked, that does not mean Bitcoin fails as a currency. Bitcoin is still fighting for it, and I'm sure that someday Bitcoin will find that time, where Bitcoin is recognized by all countries in the world and bitcoin will succeed to become a currency that can be used as a means of payment of goods and services. and in countries that have legalized Bitcoin, this Bitcoin can already be used to buy goods and services, and I've heard in Japan, there is a car dealer who has received Bitcoin as a means of payment. and this is a positive thing, and I'm sure later all countries in the world will receive Bitcoin.

Malya_alkendy

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In countries that have legalized Bitcoin, Bitcoin can already be used as a means of payment for goods and services. but due to the rapidly rising bitcoin prices, it's hard to make Bitcoin a currency, but more toward digital assets.

Psychee

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yes you are right that bitcoin is falling but not only it falls and its competition is falling here Socratus is already growing in the world crypto market

s4l1wu

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bitcoin has a very good security for something digital, bitcoin is a very protetive currency in terms of hacking. this is what makes bitcoin has a very expensive price compared to other currencies. so it's very difficult if anyone wants to hack the bitcoin

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