Topic: Bitcoin is no longer a currency - page 5. (Read 15346 times)

This has a lot more to do with hedge funds who have gotten into Bitcoin than individual users. Institutional managers have far more ability to affect the price than regular folks, and over the past few years there have been numerous private funds that have been started to buy and hold Bitcoin on behalf of wealthy investors

Bitcoin is already decentralized but there is a threat that bitcoin can be centralized and will be controlled by the governments in other country that can adopt bitcoin like in Russia that they will accept and adopt bitcoin but they will control and monitor the transactions of bitcoin which is against to the features of bitcoin for being anonymous.

Bitcoin as of right now is more used as a tool for speculation than an actual currency. hopefully as more countries such as Japan approve of bitcoin and more people start using it, bitcoin will develop into the decentralized currency it was designed to be.

to me i think bitcoin is created on the basis of currency and specially as online currency, but as the users of bitcoin are not yet so more therefore people are using it for trading. and they are getting good profit from trading. i am hopeful that when the users of bitcoin will increase and when it will become possible for the people to use bitcoin as currency in their local shops then they will certainly use bitcoin as currency.

i think everyone consider here that bitcoin is unique and wonderful currency and we know that bitcoin already change the life of maximum people and bitcoin is the way of income and many jobless people are earning income from bitcoin.

They are adopting it because they can see the financial system will be upgraded if they are going to use bitcoin.

Bitcoin has become a trend in financial world. Although virtual, many types of businesses are adopting bitcoin technology. And this became one source of income for people who are observant.

i think everyone consider here that bitcoin is unique and wonderful currency and we know that bitcoin already change the life of maximum people and bitcoin is the way of income and many jobless people are earning income from bitcoin.

Well, if bitcoin is not considered a currency, then it is considered a good asset for the future which is constantly growing rapidly.

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?

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?

Bitcoin is more than a currency, bitcoin has risen to an asset for one's investment, because many people get big profits from current price spike. Demand for bitcoin is increasing, giving extra benefits to bitcoin owners who hold it.

Bitcoin is more than a currency, bitcoin has risen to an asset for one's investment, because many people get big profits from current price spike. Demand for bitcoin is increasing, giving extra benefits to bitcoin owners who hold it.

Well, the more others says that bitcoin is no longer a currency it became more a legal currency online and also became popular too. Look a the price value of bitcoin at the present time now it is almost 1700$ each bitcoin. The demand was getting higher more and more and many businesses too are also adopting the concept of bitcoin.

That is right, one of the early adopters of bitcoin is the country of Brazil and i think they have a lot of good results for using bitcoin as their another kind of payment system and the owners of the shops are already earned a lot of money like now that the price of bitcoin is very high and they almost double or triple the value of their bitcoin right now.

I don't particularly disagree with your attitude

But you still seem to lack a proper understanding and deep insight into the matter of things, in this case into currencies and money. Personally, I would refrain from distinguishing between them here to avoid useless confusion. In other words, you describe effects without trying to delve into the causes of these effects. First of all, any currency (whether is backed up by anything or not) remains a matter of "a collective sense of what it's worth". More specifically, currency worthiness (as a currency) is defined exclusively by whether it is used as a currency or not ("money is what money does"). Gold is dear, but it basically has no monetary utility (read it is not money) because it doesn't and cannot circulate nowadays as a currency

Further, I don't agree that "a store of value is the only [function] bitcoin doesn't meet well". Not that I deny that it is factually wrong. It would be going against reality to argue to the contrary (at least, so far). What I mean to say is that Bitcoin's store of value advantage before fiat currencies gets heavily overridden and massively "run over" by external factors. Nevertheless, this built-in feature, its essence of sorts, is still showing through when we see attempts at instigating panic sell-off now and then, which still miserably fail. In other words, the kind of volatility we see today is not the volatility of some trash asset or money. It seems to be directed primarily upwards, and it is debatable whether we can call it volatility at all

That is right, one of the early adopters of bitcoin is the country of Brazil and i think they have a lot of good results for using bitcoin as their another kind of payment system and the owners of the shops are already earned a lot of money like now that the price of bitcoin is very high and they almost double or triple the value of their bitcoin right now.