Topic: Bitcoin failed as a currency - page 94. (Read 7191 times)

Indeed with the progression of innovation then Bitcoin can be utilized as a cash. At present Bitcoin is as yet advancing and being connected in different budgetary frameworks on the planet. For a venture then Bitcoin is more alluring in light of the fact that it can bring numerous points of interest. It will be continuous and beginning from today, Bitcoin is as of now in good shape and one day I'm certain that Bitcoin can be utilized as a money like utilizing the current USD Dollar.

Yes indeed bitcoin is a digital currency but here is more likely in investing because bitcoin is so unstable or fluctuating that so many people use it to invest instead of being used in real terms because bitcoin is not a standard value.

It will change in the future. But for now, we have to bear with that and make some money.  I am also with the idea that Bitcoin should finally serve the real reason why it was invented in the first place. But since it has grown so much so quickly, the demand has not stopped a bit. It is only getting higher and higher resulting to an even rising price. Volatility therefore takes place.

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.

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 with the advancement of technology then Bitcoin can be used as a currency. Currently Bitcoin is still evolving and starting to be applied in various financial systems in the world. For an investment then Bitcoin is more attractive because it can bring many advantages. It will be gradual and starting from today, Bitcoin is already on the right track and one day I'm sure that Bitcoin can be used as a currency like using the current USD Dollar.

I don’t think BTC will ever work as a global currency but other crypto based off of BTC may, but I think BTC will gain value over time

Indeed, bitcoin become an investment because of the value has increased apart from initial value.
not only bitcoin, other coin like ethereum too.
It is normal because everyone want to make some incomes by buying crypto and holding it until the price rocketing.

Why so quick to say bitcoin has already failed? I think what we're seeing is just the beginning. Bitcoin will grow further and users will be become more informed and confident about it in the next few years.

To be a currency of course takes time and exams, and I think this is not enough to make bitcoin into currency, maybe after 5 years from now then we will get bitcoin into international currency.

I don't think that bitcoin totally failed as a currency because it is not look like that for me because bitcoin is just a cryptocurrency which is volatile and also expensive as of now and because of the price of bitcoin it makes the other aspects of itself expensive also so for the other people it looked like bitcoin have failed but it is not.

for me i believe that bitcoin is not failed a a currency in fact it is the best currency because we can use it as an investment and any other types of gaining process which we can gain a huge amount of profit in a verry simple process. I think people believed that bitcoin failed as a currency because many people used it as an investment .

Yes I agree on that . But i also believe that bitcoin is the best of all currency, because it is a digital crypto currency that can be used by investing and any other ways of gaining. It is the most amazing currency in the whole world. And it is really proven and tested throughout the years.

Yes I also agree with that because nowadays bitcoin was much being used as a investment rather than a currency. Because bitcoin now is best for investments because it is volatile, means rapidly changing of price and dont have constant value, unpredictable if it is going higher or lower. If bitcoin become less volatile, i think other alt coin will replace it and bitcoin might be no value then.

I agree but i guess it is more successful when it comes in investment but i guess it is also successful as a currency but not just get implement for today i think we are just not ready to make it happened making this new type of system as a currency is really not an easy job i guess and we cannot make it happened we have no choice but to wait to adopt the bitcoin in society. The great potential of bitcoin really the one that make also great as a investment in the market that make it grow l.

In my opinion bitcoin can be used for long-term investments because, bitcoin when invested in long-term form in my opinion will be seen the difference in value of bitcoin tersbut if we look at bitcoin history in the past year what about bitcoin value in the past years so that change its value in the late 2017 is very unexpectedly the value of bitcoin to rise its value. So if in my opinion it would be a valuable coin if we invested bitcoin in the long run

Yeah, it will eventually change in the long term. Right now most people are indeed using it as a form of investment rather than using it as a currency. This is because they are able to make profit and take advantage of the volatility. Once more people starts to adopt bitcoin and it becomes less volatile, people will stop using it as an investment and start using it more like  a regular currency.

That's true, its supposed to be a currency, but it failed because in order to be a currency you need to assess some functions or criteria as a money or currency.

1. as a medium of exchange- users are willing to accept a medium of exchange as payment only if they are confident enough that other users will be willing to accept it. This willingness increases exponentially with the number of users in the network. Although bitcoin or other cryptocurrency can serve as medium of exchange but their acceptance in a whole is currently limited, still bitcoin plays
a relatively minor role as a medium of exchange.

2. store of value - a currency should be a good store of value, in order to be a good store of value, a currency needs to be stable. Bitcoin is far from stable, as its price fluctuates wildly it is a high risk asset.

3. unit of account- a currency serves a as numeraire in which economic good and activities are measured. This means the currency is used to denominate the value of commodities, services, assets, and other items in the market. While many merchant accept bitcoin as a payment option however by large many merchants have chosen to price their products in fiat currency,even when they accept bitcoin or other crptocurrencies for payment.


Therefore bitcoin or other cryptocurrencies do not serve the traditional function of a currency. As of now, it is a coin or token to play the future game and hence treated as asset rather than a currency.

Cheers

It would have been great if people really know that bitcoin is supposed to be a currency. I bet 7 out of every 10 people will tell you it is an investment,this could change later if the price becomes stable but for now,it is a long shot

Hello. from my point of view, I think it's time to invest massively in bitcoin, we must take this opportunity. Even though the price has fallen, it will surely rise, and those who invest now will enjoy later. Earnings will come more or less, but we will certainly be on the plus. Bitcoin represents and will forever represent a landmark in the crypto world