Topic: Bitcoin is no longer a currency - page 18. (Read 15346 times)
actually I agree that bitcoin is not a currency, when we talk about currency there is always a party that controlled it, but most of the people used it for currency and it is acceptable for some user as an exchange tools that makes bitcoin as a currency, and I like all of us treat bitcoin as a currency because it is really efficient to used
You are not really right. This is true that a increasing proportion of people use it as a reserve currency, but as we can see with the flooded blocks, there is still much people using it as a payment commodity.
Yeah, i was realizing if the bitcoin it looks like the company's share. Although bitcoin it's like the massive currency but i like to hold them because it's like i holding the company's share. the value is always increase based on his adoption and demand.
True that and bitcoins are not a currency because currency is something that can be printed or generated more and more depending on the requirement while bitcoins have a fixed amount stated in the beginning and guys have to mine it. It's much more like gold that is still to be mined and the more we save it the more we profit. Just a more volatile sort of gold that gives earning opportunity because of it's nature of high fluctuations.
I agree with the matter, unfortunately. At the moment, people use Bitcoin for profit, at the moment it is not used as currency, but nothing prevents it from being used in the future. Remembering that we are still well at the beginning of the revolution, it is not possible to change everything from day to night, if it is not Bitcoin, another crypto will play this role.
The problem is that if we start using bitcoins as a currency then it is fine but actually no one will hold bitcoins and the price will become very definitive as currency cannot be expected to change with time. And if this is done then the millions of people who make profit by selling and buying bitcoins at different phases will be denied their profits. Plus why we need another currency ? Maybe let bitcoins a " type of digital currency " as also stated by google
Actually some of the opinions shared by author of that article seem solid. I found especially this snippet interesting:
"Bitcoin isn't a currency. It's a commodity. A currency needs a relatively stable value to function as a medium of exchange.
If it goes up too much, everyone will hoard it. If it goes down too much, nobody will want it."
It is hard to argue with this line of reasoning. What would you say to defend bitcoin's position as a currency against it?
It is a characteristic which was included by Satoshi just to attract more people to adopt it (otherwise he would not have limited the supply and there is no need of any halving too )."Bitcoin isn't a currency. It's a commodity. A currency needs a relatively stable value to function as a medium of exchange.
If it goes up too much, everyone will hoard it. If it goes down too much, nobody will want it."
It is hard to argue with this line of reasoning. What would you say to defend bitcoin's position as a currency against it?
Literally every fiat is a commodity, its buying power vary over time. Bitcoin will get stable price after centuries till then it may act as investment instrument after that it will become a pure currency.
https://www.theatlantic.com/business/archive/2013/04/bitcoin-is-no-longer-a-currency/274859/
An article from The Atlantic magazine - from 2013, way back in 2013 - declaring that bitcoin is not a currency, but "the ultimate tech stock"!
The four years since the article was written has proven that bitcoin is akin to an Amazon or Facebook (stock, not company), and much less "Pets.com". That's a good thing.
I have to agree with them. Every week that passes without a new company in any local metropolitan area deciding to accept bitcoin as currency is a two weeks further away from bitcoin actually being adopted, mainstream, as a currency.
Bitcoin is an investment. A stock or an asset class/commodity can be debated, although it doesn't much matter. Bitcoin is a store of value not a medium of exchange.
What do you think?
Depending on the viewpoint of each person, they can consider bitcoin as anything (like you had mentioned) but the founder stated bitcoin as a Electronic Cash System in the first place (if I'm right). I assume bitcoin as a digital currency too.An article from The Atlantic magazine - from 2013, way back in 2013 - declaring that bitcoin is not a currency, but "the ultimate tech stock"!
The four years since the article was written has proven that bitcoin is akin to an Amazon or Facebook (stock, not company), and much less "Pets.com". That's a good thing.
I have to agree with them. Every week that passes without a new company in any local metropolitan area deciding to accept bitcoin as currency is a two weeks further away from bitcoin actually being adopted, mainstream, as a currency.
Bitcoin is an investment. A stock or an asset class/commodity can be debated, although it doesn't much matter. Bitcoin is a store of value not a medium of exchange.
What do you think?
However, some people can't spend bitcoin as a medium of exchange but others actually threat bitcoin as a currency, as a medium of exchange to spend it in daily basis, buy anything that you need. Ask them who lives in Netherlands : https://bitcointalksearch.org/topic/we-have-a-bitcoin-city-soon-we-will-have-bitcoin-country-1787488
Actually some of the opinions shared by author of that article seem solid. I found especially this snippet interesting:
"Bitcoin isn't a currency. It's a commodity. A currency needs a relatively stable value to function as a medium of exchange.
If it goes up too much, everyone will hoard it. If it goes down too much, nobody will want it."
It is hard to argue with this line of reasoning. What would you say to defend bitcoin's position as a currency against it?
"Bitcoin isn't a currency. It's a commodity. A currency needs a relatively stable value to function as a medium of exchange.
If it goes up too much, everyone will hoard it. If it goes down too much, nobody will want it."
It is hard to argue with this line of reasoning. What would you say to defend bitcoin's position as a currency against it?
https://www.theatlantic.com/business/archive/2013/04/bitcoin-is-no-longer-a-currency/274859/
An article from The Atlantic magazine - from 2013, way back in 2013 - declaring that bitcoin is not a currency, but "the ultimate tech stock"!
The four years since the article was written has proven that bitcoin is akin to an Amazon or Facebook (stock, not company), and much less "Pets.com". That's a good thing.
I have to agree with them. Every week that passes without a new company in any local metropolitan area deciding to accept bitcoin as currency is a two weeks further away from bitcoin actually being adopted, mainstream, as a currency.
Bitcoin is an investment. A stock or an asset class/commodity can be debated, although it doesn't much matter. Bitcoin is a store of value not a medium of exchange.
What do you think?
Indeed though it might be said recently but I was quite sure about this since a long time actually. Because you see bitcoins parts or say shares are limited and hence we buy those parts, wait for the shares to go up and then sell them, don't we all do this ?An article from The Atlantic magazine - from 2013, way back in 2013 - declaring that bitcoin is not a currency, but "the ultimate tech stock"!
The four years since the article was written has proven that bitcoin is akin to an Amazon or Facebook (stock, not company), and much less "Pets.com". That's a good thing.
I have to agree with them. Every week that passes without a new company in any local metropolitan area deciding to accept bitcoin as currency is a two weeks further away from bitcoin actually being adopted, mainstream, as a currency.
Bitcoin is an investment. A stock or an asset class/commodity can be debated, although it doesn't much matter. Bitcoin is a store of value not a medium of exchange.
What do you think?
Now being bitcoins accepted on many sites it seems like BTC is a currency but it's just because of bitpay that sites accept this asset
Bitcoin is a currency, the one stated on the link document is a person's perspective on how he view bitcoin. He is right on his point but wrong in mine and vice versa. It will be bring am argument but let us just dwell on the definition and feature of Bitcoin so that we can really tell what Bitcoin is according to our interpretation of the those details.
Bitcoin is a currencie as well payment processor, something unique backing some years of crypto world, it can be considered as digital gold, the only thing that bitcoin hasnt is support from the countries, neither they dont wanna to legalize it because they know they need to handle it with care to avoid loose the control over bitcoin.
https://www.theatlantic.com/business/archive/2013/04/bitcoin-is-no-longer-a-currency/274859/
An article from The Atlantic magazine - from 2013, way back in 2013 - declaring that bitcoin is not a currency, but "the ultimate tech stock"!
The four years since the article was written has proven that bitcoin is akin to an Amazon or Facebook (stock, not company), and much less "Pets.com". That's a good thing.
I have to agree with them. Every week that passes without a new company in any local metropolitan area deciding to accept bitcoin as currency is a two weeks further away from bitcoin actually being adopted, mainstream, as a currency.
Bitcoin is an investment. A stock or an asset class/commodity can be debated, although it doesn't much matter. Bitcoin is a store of value not a medium of exchange.
What do you think?
Indeed though it might be said recently but I was quite sure about this since a long time actually. Because you see bitcoins parts or say shares are limited and hence we buy those parts, wait for the shares to go up and then sell them, don't we all do this ?An article from The Atlantic magazine - from 2013, way back in 2013 - declaring that bitcoin is not a currency, but "the ultimate tech stock"!
The four years since the article was written has proven that bitcoin is akin to an Amazon or Facebook (stock, not company), and much less "Pets.com". That's a good thing.
I have to agree with them. Every week that passes without a new company in any local metropolitan area deciding to accept bitcoin as currency is a two weeks further away from bitcoin actually being adopted, mainstream, as a currency.
Bitcoin is an investment. A stock or an asset class/commodity can be debated, although it doesn't much matter. Bitcoin is a store of value not a medium of exchange.
What do you think?
Now being bitcoins accepted on many sites it seems like BTC is a currency but it's just because of bitpay that sites accept this asset
A currency in the most specific use of the word refers to money in any form. and money is the accepted form to buy something. let's see bitcoin nowadays. people can buy things with bitcoin like t-shirt, jewelry, phone, and other goods. so according to the definition, bitcoin is still currency.
Currency as defined in merriam webster "circulation as a medium of exchange." Using black's law, it is defined as "Coined money and such bank-notes or other paper money as are authorized by law and do in fact circulate from hand to hand as the medium of exchange." Well there is no law yet that authorized bitcoin as a medium of exchange yet. But, bitcoin does pass from hand to hand and is a medium of exchange
The requirement to be authorized by the law refers mainly to legal tender (i.e. something with which you can pay "all debts, public charges, taxes, and dues"), not so much to the concept of money itself. If you ask me, if something is to be considered money it should be used as a means of payment (or exchange, which is basically the same) by a relatively large group of people not closely affiliated with each other. In this manner, Bitcoin can be considered as money too
At least, as long as it is used in this role
That is, as a currency, not as a financial asset
https://www.theatlantic.com/business/archive/2013/04/bitcoin-is-no-longer-a-currency/274859/
An article from The Atlantic magazine - from 2013, way back in 2013 - declaring that bitcoin is not a currency, but "the ultimate tech stock"!
The four years since the article was written has proven that bitcoin is akin to an Amazon or Facebook (stock, not company), and much less "Pets.com". That's a good thing.
I have to agree with them. Every week that passes without a new company in any local metropolitan area deciding to accept bitcoin as currency is a two weeks further away from bitcoin actually being adopted, mainstream, as a currency.
Bitcoin is an investment. A stock or an asset class/commodity can be debated, although it doesn't much matter. Bitcoin is a store of value not a medium of exchange.
What do you think?
An article from The Atlantic magazine - from 2013, way back in 2013 - declaring that bitcoin is not a currency, but "the ultimate tech stock"!
The four years since the article was written has proven that bitcoin is akin to an Amazon or Facebook (stock, not company), and much less "Pets.com". That's a good thing.
I have to agree with them. Every week that passes without a new company in any local metropolitan area deciding to accept bitcoin as currency is a two weeks further away from bitcoin actually being adopted, mainstream, as a currency.
Bitcoin is an investment. A stock or an asset class/commodity can be debated, although it doesn't much matter. Bitcoin is a store of value not a medium of exchange.
What do you think?
The thing is, do currencies by definition have to be stable? If yes, then bitcoin is not a currency, but if the definition of currency does not include the stability of the price, the bitcoin can be a currency.
But I agree, bitcoin is rather ending up a better gold/internet asset somehow.
I think this is a truth that bitcoin is not a currency , because the name of the bitcoin to bitcoin digital currency is made by the users of bitcoin .
The reality behind the bitcoin is , it is just a written data , and it is about impossible to erase without the permission of the owner of bitcoin network .
And here all the bitcoiners have the trust with bitcoin that bitcoin can be use as payment and has value and has limit like the fiat money .
Allover this is just the trust system between the bitcoin to each other for bitcoin value .
No I think bitcoins are still a currency as they are accepted by a number of sites and everything seems to be working like a currency for example we have a wallet for them. The reality behind the bitcoin is , it is just a written data , and it is about impossible to erase without the permission of the owner of bitcoin network .
And here all the bitcoiners have the trust with bitcoin that bitcoin can be use as payment and has value and has limit like the fiat money .
Allover this is just the trust system between the bitcoin to each other for bitcoin value .
We have market for bitcoins shopping and we are exploring day by day and it is not true to say that it's not a currency though I agree that the structure of bitcoins was not made for it being used as a currency.
In a core bitcoin is a digital Currency. However people have made it in to the commodity n investment asset. For me in current form one of power of bitcoin is quick transfer of currency from one end of world to other end of world. Honestly it is so fast given current load on blockchain is high.
This ease and fast transfer makes them ideal for transfer across continents. It would have been really nice if it was less volatile resulting high adoption rate. This would have helped it in becoming as global currency than an asset to keep for long.
Don't you think power of bitcoin is as currency and not as asset?
This ease and fast transfer makes them ideal for transfer across continents. It would have been really nice if it was less volatile resulting high adoption rate. This would have helped it in becoming as global currency than an asset to keep for long.
Don't you think power of bitcoin is as currency and not as asset?
A currency in the most specific use of the word refers to money in any form. and money is the accepted form to buy something. let's see bitcoin nowadays. people can buy things with bitcoin like t-shirt, jewelry, phone, and other goods. so according to the definition, bitcoin is still currency.
Currency as defined in merriam webster "circulation as a medium of exchange." Using black's law, it is defined as "Coined money and such bank-notes or other paper money as are authorized by law and do in fact circulate from hand to hand as the medium of exchange." Well there is no law yet that authorized bitcoin as a medium of exchange yet. But, bitcoin does pass from hand to hand and is a medium of exchange.
A currency in the most specific use of the word refers to money in any form. and money is the accepted form to buy something. let's see bitcoin nowadays. people can buy things with bitcoin like t-shirt, jewelry, phone, and other goods. so according to the definition, bitcoin is still currency.
Well, I do not feel that bitcoin is not a currency, in fact, I feel at this time, bitcoin has become an international currency on the Internet, although not all admit it. so many people are doing transactions with bitcoin from around the world, and unconfirmation of the transaction to be proof.
Bitcoin is not really a currency I believe, though it is being used for transaction. It is more of a commodity or investment by which one can earn potentially high profits, but one can use it to transact as well. But as the value is so volatile, its not fully suitable for general transaction done by any recognised currency.
It depends on how you look at it. The writer of the article sees bitcoin as a pump&dump tech stock because he probably never needed bitcoin in his daily life to purchase something.
As for people who make many purchases via bitcoin, its definitely a currency.
As for people like me, it's a commodity like gold or a house. Because like most of the gold buyers, i buy and hold my bitcoins. I trade only a little.
As for people who make many purchases via bitcoin, its definitely a currency.
As for people like me, it's a commodity like gold or a house. Because like most of the gold buyers, i buy and hold my bitcoins. I trade only a little.
Nothing new in it. Bitcoin was never a recognized currency. It was just a fictitious concept!
It is all good to recognize Bitcoin as investment. Why? Because holding Bitcoin will be treated as investment and will go in 'Investing Activites' instead of 'Financing Activities'. This means less regulations, no tax and no control by center powers (Government or central bank). So the real mean of Bitcoin as Decentralized Item will continue..
Last year, a case came from US where convict was saved since court declared Bitcoin as Investment instead of Currency.
It is all good to recognize Bitcoin as investment. Why? Because holding Bitcoin will be treated as investment and will go in 'Investing Activites' instead of 'Financing Activities'. This means less regulations, no tax and no control by center powers (Government or central bank). So the real mean of Bitcoin as Decentralized Item will continue..
Last year, a case came from US where convict was saved since court declared Bitcoin as Investment instead of Currency.
Yeah I also think bitcoin is no longger currency but seems I was wrong about it and about that's article I dont think we must believe it due what all in article like only a troll.
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