Bitcoin failed as a currency - page 79.

Visbay

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Quote from: alkiw21 on May 29, 2018, 06:27:22 PM

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 it will change over the long term. Instability makes bitcoin difficult to serve as currency or something to make transactions. If only a stable bitcoin might just be what you want. I can not say that bitcoin fails. Bitcoin is full of potential for a good future.

But eventually it will be stable someday, there are a lot of governments who are reaching bitcoin and accepting this amazing technology, even some of colleges are try to make it a part of their study course and after this more people will let know about bitcoin, bitcoin is volatile which is being able to make profit for people now so bitcoin has a lot of benefits.

andrino

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Actually bitcoin is accepted in other country as currency but not a national currency. But there are more who make bitcoin as investment than to make a currency because they know that one day it will become more expensive. So better hold than use bitcoin.

Lonthe

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We can not verify that now bitcoin fails to be a currency, of course it takes time and process that is not short so we can see that someday bitcoin become currency.

Sosad12

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i think good investment . sometimes its risky

godrey123

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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 thi k the reason why it became more of an investment is because of the limited supply of bitcoin which circulate around the market. but still it has the characteristics of a currency that you can use to buy, exchange or pay. Its just to volatile. But technology is continually improving maybe one of these time a more suitable cryto will become the real future currency.

Emilyp

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The high volatility of Bitcoin and other cryptocurrencies is a huge setback on it becoming a currency. Something that experiences this level of volatility can not possibly be passed as a store of value. But we can't categorically say that Bitcoin has failed as a currency because a lot of development is still in place and I believe we haven't seen much of Bitcoin yet.

chichigirl

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HELENA

Bitcoin is a good currency. It keeps on growing and the demand increases inspite of the negative forces that is spreading in the news, btc does affected and back again because there are more investors that believes that btc has a good future.

Cryptogenes

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Bitcoin is ranked among the top 6 currencies in the world so i dont understand why people will say that bitcoin has failed as a currency. Bitcoin as a currency came not long ago but has become one of the most popular currencies in the world. I believe that in some few years to come, bitcoin will become one of the top 3 most trusted and used currencies worldwide.

peterpeterpeter

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Well based upon to my research and experience about bitcoin.
I think we can't say that bitcoin is failed as a currency because in a short time period more and more people who are interesting to join in our community and this is a good news to us in this matter it will be a way or chances to be recognized that bitcoin can be a currency.

Dele2018

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Bitcoin has not failed has a currency,you just can conclude and say bitcoin has failed has a currency,it's pretty young it's not even up to ten years,has time goes on more and more people will begin to adopt it has a legal tender.

vnnbot

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I think that eventually bitcoin will cease to be used as a payment medium, because altcoins are gaining popularity, which are faster, cheaper and anonymous than bitcoin.

jagaban

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We can't readily say bitcoin failed as a currency due to the circumstances that surround it. Market price is determined by every single person and not on a centralised basis and because of this the price is always volatile. This volatility makes it a perfect asset for some people as they believe if they buy btc at lower price they can sell at high when the price is going up

alkiw21

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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 it will change over the long term. Instability makes bitcoin difficult to serve as currency or something to make transactions. If only a stable bitcoin might just be what you want. I can not say that bitcoin fails. Bitcoin is full of potential for a good future.

metalglowd

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💲 EMIREX EXCHANGE 💲

Quote from: Maveric99 on May 29, 2018, 12:13:46 PM

I think bitcoin is used for online transactions and bitcoin prices are unstable, but if bitcoin becomes stable it may be possible that bitcoin will be the currency, but currently bitcoin can not be currency due to the inaccessibility or absence of assets to guarantee it from undesirable risk.

i think bitcoin price wouldn't be stable, because there's still a manipulation prices over there, the fluctuation of bitcoin itself that make something like this happened, and i also think that supply of bitcoin also affect into this stuff. just look on the other world currency like USD, JPY, GBP, did they really have supply ? i don't think so.

So if bitcoin have an unlimited supply, and the goal of bitcoin is to become a new currency i think that's still possible

blizzard31

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You are just giving your opinion with the current situation of bitcoin, but i still disagree about bitcoin being failed as currency, in my country (philippines) we have an application designated for bitcoin where we can use it to pay bills and any other stuff.

Ayaah

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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 not failed as a currency, maybe now bitcoin is not acknowledged as a currency, but from time to time especially right now bitcoin are gaining more a very good satisfactory high impact to the people world wide. This impact can bring bitcoin as a currency because many people are willing to adopt this new technology the digital money currency, known as bitcoin.

stimliall

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It is still too early to say that Bitcoin has failed or succeeded. Even if Bitcoin fails, there will be more economical digital cryptocurrencies. Some do not understand Bitcoin or have not studied bitcoin to stop the attack, time will prove everything.

soplo

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for now bitcoin is not yet a big currency, but bitcoin already exists as a transaction tool, in some countries also have used bitcoin for payment in some online stores or supermarkets, for now bitcoin is only used as infestation only, I am sure if bitcoin has been received or managed by the state government and used as currency, then bitcoin will also be able to advance the country. Grin

Leyss

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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 can only say that if bitcoin continues to be used as a means of accumulating value, that is, people will buy it and store it in the hope that it will rise in price and they will have a profit, and not use it for its intended purpose as a means of payment, then None of this will work. Bitcoin as a result can almost completely depreciate.

Menawikitajodohkok

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although it fails as a currency for the world. but the latest news is that Germany has accepted and declared that bitcoin is a legitimate currency to be used as a tool for transactions such as banknotes .

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