Topic: Bitcoin failed as a currency - page 62. (Read 7186 times)
not for now,bitcoin is number one cryptocurrency in coinmarketcap with largest volume but high risk too
it's never too late to buy bitcoin especially this year since it is more likely stable upon its price. There are some speculations that after this year bitcoin will rise up again and will become enormous. Besides, Bitcoin is volatile, meaning anytime the price could change in an instant so that even if you buy now and hold it up for a long time, there's a chance for you to recover what you have invested upon it.
So while the price of bitcoin is in the low price we should buy more bitcoin because who knows? After this bitcoin can increase a lot and you will regret because you can not buy at the dip.
it's never too late to buy bitcoin especially this year since it is more likely stable upon its price. There are some speculations that after this year bitcoin will rise up again and will become enormous. Besides, Bitcoin is volatile, meaning anytime the price could change in an instant so that even if you buy now and hold it up for a long time, there's a chance for you to recover what you have invested upon it.
It probably won't be used as currency because the biggest problem I see with bitcoin is the genesis wallet containing 1 million coin. That single wallet can make it go near zero in valuation if even a single coin moves from there.
Bitcoin nowaday is a currency but tomorrow who know? People are trading on the exchanges everyday, using bitcoin as main currency. So, we will have a different COIN to change Bitcoin but not now, it's in future.
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 ?
Everyone has his ambition for holding Bitcoin. Bitcoin has not failed as a currency just that people prefer to hold it for long term to earn some good amount of money when the price surges. You can still purchase goods and services online with Bitcoin from shops which accept Bitcoin. Do you guys think that this can change in the long term ?
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.
Yes Volatility in Bitcoin is something of concern for something that is meant to be a store of value. However, the simple fact is that it was bought for speculation, and not as a store of value or a medium of exchange. The number of speculators dwarfs the number of people who buy Bitcoin for some practical use.You strongly believe in the future of this matter, Bitcoin will become the major currency in the future. This is just the beginning.
A currency has to be regulated, by definition.
BTC is decentralized and there will never be a world institution to regulate crypto.
Besides, I don't want to have a currency produced almost exclusively by the Chinese...
BTC failed, but the PoS model has a good chance of succeeding mainly because anyone can do it without the need to run a giant mining farm.
This is still the beginning, and we can not say that Bitcoin has failed from, the system, all its programs, and its efforts to convert fiat currency into digital currency. The future of Bitcoin is still bright and can grow better in the future, and I firmly believe that Bitcoin will succeed as a digital currency, as I have seen that many great countries have followed the Bitcoin system and program.
Yes Volatility in Bitcoin is something of concern for something that is meant to be a store of value. However, the simple fact is that it was bought for speculation, and not as a store of value or a medium of exchange. The number of speculators dwarfs the number of people who buy Bitcoin for some practical use.You strongly believe in the future of this matter, Bitcoin will become the major currency in the future. This is just the beginning.
I can not argue that bitcoin has failed as a currency. Sometimes bitcoin is more likely to be seen as an asset. But bitcoin is also done for transactions and this is the same as currency. So I can not assume that bitcoin fails as currency.
Bitcoin is considered as a failed currency because when you think about currency then you know that it is always been use in transactions like for a daily basis so you need to use it for everyday since it is a currency but bitcoin is just like an asset just like you said and that means that bitcoin is not that good in terms of using it because of the fees and network problems.
Another way to look at it is that it has succeeded in becoming a digital currency as it is being used by more than 100,000 merchants according to wikipedia and that was in 2015.
As of now as people here have mentioned because of the volatility of its value makes the usage of it in daily transactions impractical. In the future when there is less volatility and as we reach the release of all 21 Million bitcoins then that is the time that I can see Bitcoin being used just like fiat money.
As of now as people here have mentioned because of the volatility of its value makes the usage of it in daily transactions impractical. In the future when there is less volatility and as we reach the release of all 21 Million bitcoins then that is the time that I can see Bitcoin being used just like fiat money.
Bitcoin as of now can never be a currency because bitcoin is lack of properties as a currency compared to real money.
I can not argue that bitcoin has failed as a currency. Sometimes bitcoin is more likely to be seen as an asset. But bitcoin is also done for transactions and this is the same as currency. So I can not assume that bitcoin fails as currency.
In my Opinion, this is just the beginning of future in cryptocurrencies. where the development of the cryptocurrencies is under-construction. to be sure once Bitcoin gets legalized in every part of the country we can sure that there are pretty good chances for Bitcoin being as the currency. as at present, it holds all the currencies in its way of holding pretty values under it. Later on, it will make sure it will emerge as a currency itself. as Bitcoin did not reveal its true powers yet now is not the right time to prove something. In this run of financial digital market its all about balancing values in the market to make most of it as a positive outcome. all I want to say is we cannot be sure yet the game has been Begun. more wonderful things are yet to be amended on its way. This is a long run for success where we all are running together in Building cryptocurrencies.
Bitcoin it is not failed as a currency in terms of digital currency it is very useful for the people to purchase and payments bill through online transaction, Bitcoin is very high in value as of now when we converted into fiat currency. Most of the country are accepting bitcoin as a currency.
Way to making bitcoin more stable its controlling exchanges.
Cryptocurrency exchanges working in chaos mode, there is many wash trading
Cryptocurrency exchanges working in chaos mode, there is many wash trading
A potential solution to Bitcoin price fluctuation is to connect Bitcoin prices to gold at a fixed rate. This requires a consensus within the Bitcoin community, as well as the need for a donor willing to create a physical gold market according to the agreed value in Bitcoin
Very true that we cannot really consider bitcoin as a real currency now due to its volatility. But we would definitely get to the point where it would become a major currency of reference just like the USD is today and we can see that's already fading away.
To me i think that it is still very early to say about that, because bitcoin is not yet as such popular throughout the world, it will take a lot of time when bitcoin will become so much popular that all over the world people start using bitcoin, bitcoin is currently use as for investment and trading purposes but later on when bitcoin will become so much popular then people will even like to use it for shopping etc.
Very true that we cannot really consider bitcoin as a real currency now due to its volatility. But we would definitely get to the point where it would become a major currency of reference just like the USD is today and we can see that's already fading away.
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