Topic: Bitcoin failed as a currency - page 67. (Read 7186 times)
I do not believe that Bitcoin is only good for investment, Bitcoin is a digital currency from its inception. It has met the aspiration for settlement of goods and services which is major characteristics of currency. Bitcoin can go for both and infact its for both.
Bitcoin is considered to be the most valuable currency in the world's electronic money market. But it is not considered the official currency of value used in everyday life. In Vietnam many people view bitcoin as virtual currency and they think they should not invest in bitcoin.
In principle, I believe that bitcoin has already become in a certain way a digital currency, they can pay for things and services in different countries, but I do not believe that it will become an official international currency that all countries recognize, it will contradict all the principles of financial institutions.
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 ?
While it may seem that bitcoin really already has some kind of fatigue and uncertainty about something, but for some reason I think that bitcoin has not yet finished everything, and will continue to grow. Do you guys think that this can change in the long term ?
For now it seem to have failed becasue of high volatilty i guess.I think eventually that will be solved and merchants will be accepting it as a means of payment
Bitcoin failed as a currency
I think Bitcoin is considered to be a currency. Although it is not a country's own issued currency. But Bitcoin is an international online currency. Because Bitcoin is being sold online in different countries of the world like money. And it is possible to exchange various foods and other ingredients with Bitcoin. So it is possible that Bitcoin must be a coin.
Bitcoin will go through ups and downs. He may even fail; but then the process can easily be restarted, since we now know how this works.Bitcoin cannot technically become a currency because it The transaction speed is too slow, coupled with high transaction costs, Bitcoin is too immature for the currency.
Of course we are thinking Bitcoin is an investment instrument payment system that should be considered from every angle in every way I do not have a money transfer commission and I do not think that certain criteria of certain people will be better than others in the future even if it is seen as a pawn.
i think so because it is not that much spread all the world and many countries already banded bitcoin. so the future of bitcoin is not that much bright.
Now Bitcoin is Strongly Believe that it will not Fail and Worst case Scenario the price drops, it will go up I know this to be true in all my Research and sane Being.
The title really bothered me because the bitcoin did not fail to become a crypto currency, but bitcoin was what made the crypto currency very famous as it is today.
this is very funny, if Bitcoin fails to be a cyrpto currency maybe Bitcoin is currently already not in use anymore or is dead. Bitcoin has made this crypto currency increasingly popular in the eyes of the world and its users are now increasing. yes my friend, i am also annoyed by the title.
What is a currency? A currency is any thing recognised by a people (usually backed by law) as a certified instrument for payment of goods and serices. A currency must have power: the ability for it to be used to buy or pay for something.
It must have value: And as such may be seen as an asset and it must be recognisable, acceptable and spendable. The bitcoin has met all of these criteria and surpassed them.The bitcoin is also a revolution.
It must have value: And as such may be seen as an asset and it must be recognisable, acceptable and spendable. The bitcoin has met all of these criteria and surpassed them.The bitcoin is also a revolution.
The title really bothered me because the bitcoin did not fail to become a crypto currency, but bitcoin was what made the crypto currency very famous as it is today.
maybe bitcoin can not be money only in some countries only. but in certain countries bitcoin can already be used like paper currency. i believe that one day bitcoin users will beat all payment systems like paypal...
That will be a long time. Paypal is usually used than Bitcoin transactions since it is really faster than Bitcoin, I guess the fees are also efficient in that. Bitcoin will never be a good currency since it is decentralized and volatile. Who would want to use a currency that changes it's price every single second? A lot of platforms used Bitcoin but in time, they halted it because of the fees.s
maybe bitcoin can not be money only in some countries only. but in certain countries bitcoin can already be used like paper currency. i believe that one day bitcoin users will beat all payment systems like paypal...
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.
More people will start using BTC as currency if it's interesting for them. It can be achieved when more stores from different sectors start accepting BTC as payment and consequently when the demand for the digital currency increases.
For me, bitcoin is not failed as a new currency, although bitcoin is still new to our ear and it is still developing, we can say that today bitcoin has a big impact to the netizens especially to the millennial who are technology literate. There are still lots of people who are using bitcoin today, and its price is very expensive because of the supply and demand in the market. So we cant say that bitcoin is failed but we can say that bitcoin is starting to overcome its success. More people will start using BTC as currency if it's interesting for them. It can be achieved when more stores from different sectors start accepting BTC as payment and consequently when the demand for the digital currency increases.
There are some countries that accept Bitcoin as payment at companies like America, Japan and Germany.
Finally the time will come when countries will accept Bitcoin as a means of payment at different stores, just a matter of time and knowledge for people to be able to adopt the currency.
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.
Finally the time will come when countries will accept Bitcoin as a means of payment at different stores, just a matter of time and knowledge for people to be able to adopt the currency.
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.
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 ?
That is No because bitcoin can still be used as a currency not only as a form of investment. Is just that many countries do not adopt yet bitcoin as a currency. But there countries who accept bitcoin as payment in different establishments just like in Japan and Germany. Eventually time will come that countries would accept Bitcoin as means of payment in different store it is just a matter of time and knowledge for the people to be able to adopt the currency.
Yes the volatility in Bitcoin is something of a 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. Number of speculators dwarfs the number of people who buy Bitcoin for some practical use. This is an example of a FUD but for all inclusive purposes I will comment. There are many traders who are currently receiving Bitcoin, and many more are beginning 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 ?
Blockchain technology has been offering bitcoin in the past 10 years since it was introduced in the market, there is a huge possibility to bitcoin's changes in both its nature and the manner of its systemization in the market. This makes it unfit to act as a currency as currency is expected to show some stability but Bitcoin shows fluctuations in a matter of hours. Trading bitcoin is one of the driving force that makes bitcoin price high and low, but some country already bans it because for some reason.
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