Bitcoin failed as a currency - page 98.

allycn

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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 honestly don't see Bitcoin moving into the currency-for-payments direction any time soon. Although many merchants do accept BTC as a payment method, I see it more likely that some other coin or token will take that spot and BTC will remain as an asset, and that is not a bad thing as BTC has opened plenty of doors.

IamSaitama

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Bitcoin is actually successful in being a currency because Bitcoin is used in some stores and companies. And do not forget that bitcoin is used on the deep web where blackmarkets occur. But beside being a currency, investors has also perceived it as an opportunity when it comes to investment. Because of its unstable nature, it's value going up and down seems to be a great advantage for them.

Similificator

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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 ?

While it may seem like it as of this moment because of all the pros and cons it has right now, I believe that bitcoins should not be seen as what it is today but by what it can be in the coming years because clearly, bitcoins and this industry still has a lot of room and time to grow. In a technology like this one, there are no limits except the limitations of people's imagination. So I think that time will come when these issues get a good fix and become the coin that what satoshi really envisioned.

kelceyott

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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 that btc would be hard to become a currency. It can be said that btc will be an intermediary in the payment or exchange medium in the transaction. It's like using a credit card, but instead of using bank money we use our own money.This means that instead of making a fixed transaction, you can use btc as a value converter and do it easily and quickly with a simple procedure.

venlo

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it is necessary regulation from the government to use it legally, if used as currency is not possible because it will drop the fiat currency

RealCrypto.org

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We agree with the sentiment here. Once the price stabilizes people will be more apt to spend it. Right now the incentive is to hold it because the price is always rising. That's one of the reasons the US FED likes to maintain a 2% inflation rate to encourage spending which promotes economies. Too bad the USD is just a useless shitcoin with a massive premine.jk

In all seriousness, there isn't the incentive to spend bitcoin besides it's cheap transaction fees. This will change in the future like all the other past problems of bitcoin. The beauty of bitcoin is it just code that can be evolved to meet the needs of it's users through a democratic POW system. That right there gives us confidence in the future of bitcoin as a world currency or means of transferring value from one person to another.

CuteBaby123

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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 ?

Bitcoin is really supposed to be a currency that will be used in buying, selling and payment for certain items or work. However, because of its success in having a high value or price, it became a main source of investment, a making money method by many people. Well, this is not bad afterall because its just justify why it was being created.

al maruf

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I think Bitcoin is worthwhile as a currency. Because Bitcoin is a digital currency, it can be used for trading, buying and selling. Bitcoin's future is so bright. This is called currency for this. Bitcoin is a virtual currency, which can not be seen in the eyes, it is only online, there is a slight flaw in this case, because the currency that is seen in the eye can be captured. Bitcoin is its exception.

bitllionaire

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Quote from: Barrett Thomas on May 08, 2018, 12:01:56 PM

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. And I think that is the used of crypto currency. I dont think so that bitcoin will change in the long term because bitcoin is made to become a currency and it will always be.

They are using bitcoin as investment because they still do not have much facilities to use bitcoin as currency. I think that bitcoin is the need of the day and its demand is increasing from time to time. I think that in future we are expecting that bitcoin will provide all such facilities to us which we have already provided by fiat currency.

Ethelbert Moore

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Well if whole world would recognize it as a currency and when bitcoin will be acceptable everywhere than no doubt its stability will be maintained so we can hope to see bitcoin as the future currency because of its secure transactions and no doubt fast.

btccoffee

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kingcasino.io

No butcoin wont failed as a currency since bitcoin already using as a mode of payments since the biggining or bitcoin. The only reason why bitcoin is so volatile its because of fiat money and if there is no fiat money the price bitcoin wonth be volatile anymore maybe.

Vincent Wright

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I dont think so that bitcoin will change in the long term because bitcoin is made to become a currency and it will always be. 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. And I think that is the used of crypto currency.

Fintan Lee

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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. And I think that is the used of crypto currency. I dont think so that bitcoin will change in the long term because bitcoin is made to become a currency and it will always be.

mrtryonebiggums

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Revolutionized Rotating Savings & Borrowings

It has only failed if you are Roger Ver, other than that Bitcoin is well on course and doing better than it ever has.

Barrett Thomas

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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. And I think that is the used of crypto currency. I dont think so that bitcoin will change in the long term because bitcoin is made to become a currency and it will always be.

bitfocus

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Bitcoin is still in its early age, if you think about World Domination - it will take more time.

icecube45

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The highly fluctuating bitcoin value does make bitcoin not qualified as a currency. Although many stores accept bitcoin as payment but few use it, bitcoin is more commonly used for investment or trade because its highly volatile price is certainly very profitable. For now maybe bitcoin fails as currency, but in the future? No one knows it. Technological advances will enable bitcoin to be used as a currency in the future. Bitcoin is always growing, opportunities are still huge. See bitcoin fairly new so anything can happen in the future.

vonnyaries

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i think bitcoin still a currencies we can use it to pay something that we want and of course the seller must accept bitcoin as their payment, for the reason that bitcoin is for investing, maybe you don't know but in small country with unstable economics the citizen is use USD to investing, which is if their local currencies is not stable they still has a USD that has a stable currencies, so what is the USD? is this a investing media or the currencies? i thin its depend on the holder of bitcoin

qiwoman2

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Oikos.cash | Decentralized Finance on Tron

Bitcoin hasn't failed as a currency, not yet as many people use Bitcoin now even to buy houses. I saw whole blocks of apartments being sold in Dubai for Bitcoin. So in some places it will become very popular. Just mass adoption has taken a while that's all to happen but that might happen with universal wallets like Ethos and more countries regulating it so it can be taxable. Remember also that Bitcoin is a technology and not just a monetary unit that many people want t to be, it has far more value than paper money.

icaica22

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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. Speculation is suitable for fast buying and selling moves, while people who really use currency depend on it. Bitcoin is a direct investment that is easily converted as currency and (Private online & secure >>> limited <<<)
How dare to speak like a banker?
and in these days everyone flees the banks even the best wall traders come to crypto
We must unite bicouse, the great wall will come and we have to make (union investment) to have more chances against big players
United we are stronger and the sky is the limit

Topic: Bitcoin failed as a currency - page 98. (Read 7186 times)