Topic: Bitcoin is no longer a currency - page 2. (Read 15364 times)
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.
I am really wondering what is going to happen when bitcoin is no longer used as payment.
What will happen to companies like bitpay?
And will the shops stop accepting bitcoin when nobody uses it?
How would such a scenarios influence the price of bitcoin?
What will happen to companies like bitpay?
And will the shops stop accepting bitcoin when nobody uses it?
How would such a scenarios influence the price of bitcoin?
Yes, Bitcoin is no more a currency at all. day by day it has been considered as a profitable business sector. though Bitcoin has some uncertain price value it has produced on an average 300% price. for me, it is as like as share market. day by day it is becoming a popular currency at the whole around the world. I think Bitcoin is using for the purpose of saving and investment rather than any other purpose so that Bitcoin can be considered not only a currency but also something special.
I have to agree with this. Even though Bitcoin has it's own fluctuating rates, it is still far incomparable with the currencies of each country has. Because if you look at it, it is just there for the sake to have a "Digital Currency". But the real use of it is as an investment that goes up and down, like stocks. Therefore, in my opinion, it is better to describe it as an investment similar with stocks.
I agree on some but it still depends on the users' perspectives. as For me i can call this as an investment and also a currency. It is risky to have bitcoin as a currency because of it's volatility, and as a crypto-digital currency it can be used for some of the shops online that accepts bitcoin. I just hope, there is a standardized description on bitcoin, whether it a stock/investment or a currency.
Popularization of digital currency can be achieved if bitcoin is not used as a currency. Although it has the same feature of shares and commodities like gold but the truth remains if bitcoin was not to be used as a currency the circulation and acceptance would have decrease significantly as compared to what it is now.
That's true, bitcoin looks like an asset or share that we have and it keeps increasing it's value when everything is going great, and if there is some problem the price just decreases. We can compare it to a company who is developing quite well now
You may be right, but then what this company produces? Where will the money for its existence? Any investment should stimulate the production. Now bitcoin is more like a pyramid in which people are constantly investing money with the goal of getting rich.his bitcoin will accept your money. It gives us freedom and no country discrimination as we can do transaction anytime we what
for whatever purpose we like.
no it is still a currency what defines a currency it is the money that used many people in buying things in life the one that they use is currency right, currency is not like hard money it can also virtual currency and that is bitcoin.
bitcoin is created on the name of currency and therefore i can say that bitcoin is still a currency and will remain as currency for ever. in fact some people are already using bitcoin as currency, even in some place people are using in locals shops therefore no doubt that bitcoin is a currency. 
What? Are you making a fool out of yourselves? Bitcoin cannot be the "ultimate tech stock" or even be counted as a stock. A stock is some kind of share of a company, Bitcoin on the other hand is not a company but a currency. Also shares of stocks issues dividends frequently which we don't see on Bitcoin and yes Bitcoin Cash is not counted as a dividend because it is a one time thing and is also counted as an Altcoin. Yes Bitcoin can be counted as an investment but will never be counted as a stock in my own personal view
Technically, in a narrow sense of the word, you are right
Bitcoin is not a stock, but conceptually you can think of money (I refer to fiat currencies here, say, the US dollar) as a stock of a whole nation. By acquiring some dollars (or whatever), you receive a right to claim some part of the wealth that the nation created. Indeed, fiat currencies don't pay dividends, in fact, they even lose value over time due to inflation, but not all companies are growing either (some even go bust just like some currencies, say, the proverbial Zimbabwean dollar, hyperinflate and die off eventually). And the loss of purchasing power can be offset by acquiring more of the money "stock"
no it is still a currency what defines a currency it is the money that used many people in buying things in life the one that they use is currency right, currency is not like hard money it can also virtual currency and that is bitcoin.
What? Are you making a fool out of yourselves? Bitcoin cannot be the "ultimate tech stock" or even be counted as a stock. A stock is some kind of share of a company, Bitcoin on the other hand is not a company but a currency. Also shares of stocks issues dividends frequently which we don't see on Bitcoin and yes Bitcoin Cash is not counted as a dividend because it is a one time thing and is also counted as an Altcoin. Yes Bitcoin can be counted as an investment but will never be counted as a stock in my own personal view.
I completely agree with this point.
since it has been added double or treble price value so that it has been considered as a saving and investment purpose. day by day Bitcoin is becoming a profitable platform and people are making a profit through this system. usually, people prefer to use the most profitable and accepted system. day by day Bitcoin is becoming an accepted platform whole around the world. so it is considered a business platform rather than a currency.
since it has been added double or treble price value so that it has been considered as a saving and investment purpose. day by day Bitcoin is becoming a profitable platform and people are making a profit through this system. usually, people prefer to use the most profitable and accepted system. day by day Bitcoin is becoming an accepted platform whole around the world. so it is considered a business platform rather than a currency.
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.
Holding them in a long term was really a good methods that we need to do it now. So it is impossible that bitcoin now is not a currency, especially the the price value now was 4200$ which shows that it is a currency that can be use in many ways.
Bitcoin is like an investment though. I'm sure many people look at bitcoin because the price of bitcoin increasing day by day, especially right now. Actually bitcoin is still currency because many people still using it for a payment, trading, gambling, buying/selling and many else. It's like a real money.
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.
Holding them in a long term was really a good methods that we need to do it now. So it is impossible that bitcoin now is not a currency, especially the the price value now was 4200$ which shows that it is a currency that can be use in many ways.
Bitcoin is like an investment though. I'm sure many people look at bitcoin because the price of bitcoin increasing day by day, especially right now. Actually bitcoin is still currency because many people still using it for a payment, trading, gambling, buying/selling and many else. It's like a real money.
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.
Holding them in a long term was really a good methods that we need to do it now. So it is impossible that bitcoin now is not a currency, especially the the price value now was 4200$ which shows that it is a currency that can be use in many ways.
With such a pretty high price for a bitcoin, many consider it an investment, but for me it's a new generation currency with which you can earn and make purchases.
Yeah I think with soaring bitcoin prices and seeing the price changes are very fluctuating bitcoin. Many users do not consider bitcoin as a currency but assume that bitcoin is an investment commodity. The proof is currently very few users who use bitcoin as currencyI agree with you, with bitcoin prices so high that nowadays almost users rarely make payment transactions using bitcoin, but using bitcoin for business purposes such as trade and investment. It is clear that the role of bitcoin not as means of payment transactions is very valuable asset and has high value.
I think if bitcoin can be spent in modern market or retail using cashier, my question is when bitcoin price is too high, how much does transaction fees when we buy goods under $ 10?
There are a lot of way to do just that
First, both the merchant and the buyer can use the same web wallet (say, Coinbase), and in this case transactions are not only free of charge but also instantaneous. In fact, this is one of the ways which many retail merchants accepting Bitcoin use. Another option is to use a Bitcoin payment card with which your payment doesn't need to wait for confirmation either. Regarding the other point you make, that Bitcoin is going to turn into a sort of elitist currency, this is unlikely since it will sooner stop being a currency at all provided it were such in the first place (well, at least, to a degree)
As of now since we have limited users (as compared to that of fiat), the potential of a bitcoin is extraordinary and hence people (who are coming across bitcoin niche) are giving priority to accumulate it as they believe that the price would rise over the period of time. This is making it the instrument to store the value, whereas there are some people having involved in international trading are using bitcoin as a medium of exchange because it is cheaper and faster than other options. Thus, in my opinion, the intention differs from person to person.
It is much better to say a diffrent currency because if we will look closely to the comaprison of bitcoin and fiat, both of the variable have a difference to each other. I can distiguish bitcoin a better currency because it is a crpto currency where it makes transaction easy and reliable. As you said it is an intrument for storing. But in fact it has a value which is always dependent on the demand or the scale of support of the community. Which means it value is changing so it is bettee for investment and trading.Exactly and even if there are very few merchants out there who are accepting Bitcoin at the moment, we are growing with a sustainable growth rate. Apart from the speculators, even normal people are showing interest in this technology which is the strength of a new (the core) aspect of Bitcoin. However, there is a tremendous number of people who are using fiat currencies in digital form so I don't think Bitcoin is different at that point (except - authority, control and system) so it should not be the subject of confusion when it comes to the topic of currency.
Yes, if I am not wrong then the number of people who are using Bitcoins is less than 1% of world's population so there is tremendous scope for the growth.
These things are inter-related so when there is media coverage about Bitcoin, people tend to buy some Bitcoins and when there is a mass adoption the price rises which again grabs media attention. Talking about merchants, I am expecting to spoon feed from the Bitcoin exchanges when merchants don't have any idea in initial days.
Here is a recent example: Indian Bitcoin Hotspot Bangalore Sees 50+ Merchants Added This Month.
With such a pretty high price for a bitcoin, many consider it an investment, but for me it's a new generation currency with which you can earn and make purchases.
Yeah I think with soaring bitcoin prices and seeing the price changes are very fluctuating bitcoin. Many users do not consider bitcoin as a currency but assume that bitcoin is an investment commodity. The proof is currently very few users who use bitcoin as currencyI agree with you, with bitcoin prices so high that nowadays almost users rarely make payment transactions using bitcoin, but using bitcoin for business purposes such as trade and investment. It is clear that the role of bitcoin not as means of payment transactions is very valuable asset and has high value.
I think if bitcoin can be spent in modern market or retail using cashier, my question is when bitcoin price is too high, how much does transaction fees when we buy goods under $ 10?
In my opinion, bitcoin will be the special currency of the elite in the future, and not the prospect of paying for the lower middle class, from an investment perspective, we have made bitcoin skyrocket, so the bitcoin assumption is no longer currency is wrong.
With such a pretty high price for a bitcoin, many consider it an investment, but for me it's a new generation currency with which you can earn and make purchases.
Yeah I think with soaring bitcoin prices and seeing the price changes are very fluctuating bitcoin. Many users do not consider bitcoin as a currency but assume that bitcoin is an investment commodity. The proof is currently very few users who use bitcoin as currencyI agree with you, with bitcoin prices so high that nowadays almost users rarely make payment transactions using bitcoin, but using bitcoin for business purposes such as trade and investment. It is clear that the role of bitcoin not as means of payment transactions is very valuable asset and has high value.
With such a pretty high price for a bitcoin, many consider it an investment, but for me it's a new generation currency with which you can earn and make purchases.
Yeah I think with soaring bitcoin prices and seeing the price changes are very fluctuating bitcoin. Many users do not consider bitcoin as a currency but assume that bitcoin is an investment commodity. The proof is currently very few users who use bitcoin as currencyI agree with you, with bitcoin prices so high that nowadays almost users rarely make payment transactions using bitcoin, but using bitcoin for business purposes such as trade and investment. It is clear that the role of bitcoin not as means of payment transactions is very valuable asset and has high value.
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