Topic: Bitcoin failed as a currency - page 82. (Read 7191 times)
The volatility in Bitcoin is kind of concerning for something intended to be a store of value. But, the simple fact is that it is being purchased for speculation, and not as a store of value or means of exchange. The number of speculators dwarfs the number of people who purchase Bitcoin for some practical use. Speculation lends itself to quick buying and selling moves, while people who actually use a currency hang on to it. I believe that when Bitcoin use as a practical currency exceeds that of speculators, the volatility will decrease.
Most of the people use bitcoin as currency. But the price of bitcoin is not fixed. So we can call it an asset and we can invest on bitcoin. It is still alive and it has great potential.
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".
As the British Central Bank Governor said Mark Carney. Bitcoin and other crypto are considered unsuccessful as currency. Because, bitcoin is not a storage medium of value, because it is so out of focus and inconsistent. Despite increasing investor interest in bitcoin the virtual currency is not a cash substitute or card-based payment instrument.
Do you guys think that this can change in the long term ?
In the long term this change may occur if governments across the country legalize the existence of bitcoins simultaneously.
Let me elucidate some data for you mate, Bitcoin was never assume to be a cash yet an online cash when you can purchase things over the web or whatever else, in this kind of exchange have made its absolutely impossible you can be find whom utilizing the Bitcoin dissimilar to when you pay things over your credit/charge real card, the thing that bound these limits was the namelessness of paying things utilizing Bitcoin, as I speak Bitcoin is certain as a type of speculation yet for my point of view of view just route back in the last quarter of 2017 starting at now .
I think in the long run, it can achieve such a thing, it's worth it now and for the future to come, only God knows.
I think in the future Bitcoin is not only a profitable investment but as a currency or a simple payment option. I don't think Bitcoin is a failed currency simply because of the lack of merchants that accept Bitcoin. it will be solved by the time when Bitcoin will become more popular then more merchants will starting accept Bitcoin.
Of course this is a long process and can not be instant, to be a currency then it takes a long time and massive socialization, but it happens just the opposite because more and more people who hate bitcoin.
That is right that more and more people hates bitcoin but it is not enough for bitcoin to just failed because it is keep on developing and keep on improving to stay competitive to the market of the cryptocurrencies. Bitcoin is such a great cryptocurrency and soon enough we will see a lot of people that will accept and adapt it which make bitcoin as a successful currency.
Bitcoin is currently failing as a currency chiefly because it is very volatile.Many people used it as a form of investment, trading center, form of payment and especially it is also serves as another source of income for those people who already had a job. I think in the future when technology more advance, bitcoin can be as payment because with crypto we can more safely to store our asset.
We can't really tell that right now because I think bitcoin is not a failure as currency. It's too early to say that bitcoin is for investment only and a speculative asset. Some establishments in some countries are using bitcoin already as a payment and maybe it will become stable in the future and become a currency that we can use anytime.
Of course this is a long process and can not be instant, to be a currency then it takes a long time and massive socialization, but it happens just the opposite because more and more people who hate bitcoin.
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.
Speculation as reason to fail Bitcoin doesn't count for me. Every coin is speculative so what?!
Bitcoin is still being used as currency because you can pay in millions of merchants with bitcoin and its still dominant whole cryptocurrency space.
Therefore bitcoin is both investment and currency, in next few years we will have lightening network which will make bitcoin ultimate payment gateway.
Bitcoin might keep on holding speculative value in future too but volatility might get lower down with increasing marketcap.
Therefore bitcoin is both investment and currency, in next few years we will have lightening network which will make bitcoin ultimate payment gateway.
Bitcoin might keep on holding speculative value in future too but volatility might get lower down with increasing marketcap.
Yes! Once the market gets larger (much larger) volatility should decrease significantly. The plus the lightning network will set Bitcoin up for use as a currency. Currently right now with its volatility, people view it as a speculative investment. I do think Max Keiser is correct in stating the price will stabilize at around $100,000 USD.
i know that bitcoin is failed as a currencies because as we know right now there are many currencies is more good than bitcoin, like the technology that using NFC for paying someone and other, for me bitcoin payment is traditional because we need to input the amount and the address manually, so if there are new method to make bitcoin more flexible and easy to use i think it will make a different in the future
I think bitcoin is not very suitable if used as the main currency in the world, bitcoin is very suitable and successful if it becomes an alternative payment that can be used for several payment methods.
Bitcoin ha not really failed, the platform and environment its been operating on has ben way too volatile but so far it as done we, if given more time and a more friendly condition, BTC is stillcapable of fulfilling its potential
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 ?
No! Bitcoin was created as online digital currency and not off line currency that used everyday and issued by the government. Bitcoin is decentralized and volatile,it is just the best investment ever and and will be use as payment method online. Because every transaction you made you need an internet.
We all know that bitcoin is more than just a currency, it is a potential investment and many take the opportunity in this business . Bitcoin is still used as a "currency" but not in the way we see as fiat. Fiat are used commonly to buy almost everything in the market and function as a currency. It's just that bitcoin is not developing as fast as everyone expects, and we need a few years to use bitcoin as a currency has become more popular and relevant.
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 ?
We all know that bitcoin is more than just a currency, it is a potential investment and many take the opportunity in this business. Even though many see it more as an asset, I still want bitcoin to be more common currency. I am happy whenever I see or heard stories of hotels and establishments that accepts bitcoin. Hopefully their number will increase in the market.
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 ?
Most people really overlooked that bitcoin is still a currency because they earn money from its investments ( not just bitcoin, but also almost all cryptos ). But I still believe that in time, cryptos will receive the recognition as a currency it deserves. Hopefully, the number of industries that accepts cryptos will increase further and help improve our economy.
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