Bitcoin is no longer a currency - page 6.

Yakamoto

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Quote from: Sled on May 07, 2017, 11:09:29 PM

Quote from: Zenithar on May 07, 2017, 06:08:09 PM

Quote from: guoyu78 on May 07, 2017, 05:06:02 PM

Quote from: ArnoldChippy on May 07, 2017, 04:40:35 PM

Quote from: jeraldskie11 on May 07, 2017, 09:23:49 AM

At the beginning of bitcoin it is not accepted in our economy as a currency. But they will study the bitcoin that what was the benefits of it in our economy later on bitcoin is accepted as a currency. There are some bitcoin used for criminal transaction because it is anonymous.

and specially in physical shops the shopkeepers are not ready to accept bitcoin, i think still it will take a lot of time when all the people of the world will start using bitcoin and the all the shops will also accept bitcoin for shopping.

but i heard that many shopkeepers accepting bitcoin and i hope that bitcoin will be also acceptable in local shop in your country and bitcoin is trusted currency because people easily will accept bitcoin in their shopping center.

yes in some places for example in Brazil the shopkeepers already accept bitcoin, actually the number of bitcoin users are more there as compare to other places and that is the only reason that even the shopkeepers have good knowledge about bitcoin and therefore they are accepting bitcoin in their shops.

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.

It's more hit-and-miss for timing when it comes to shops and keeping their Bitcoin stored, it really depends on the individual shop but there are some that convert to fiat within a day, others may hold for a week or month, but it is rarely ever kept for a long time as Bitcoin and shops typically don't act as major traders on exchanges with much influence, they're more often just places wanting to get their work done and make sure they can still work the next day.

I may be wrong, but that's the trend I observed.

Sled

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Bitcoin- in bullish time

Quote from: Zenithar on May 07, 2017, 06:08:09 PM

Quote from: guoyu78 on May 07, 2017, 05:06:02 PM

Quote from: ArnoldChippy on May 07, 2017, 04:40:35 PM

Quote from: jeraldskie11 on May 07, 2017, 09:23:49 AM

At the beginning of bitcoin it is not accepted in our economy as a currency. But they will study the bitcoin that what was the benefits of it in our economy later on bitcoin is accepted as a currency. There are some bitcoin used for criminal transaction because it is anonymous.

and specially in physical shops the shopkeepers are not ready to accept bitcoin, i think still it will take a lot of time when all the people of the world will start using bitcoin and the all the shops will also accept bitcoin for shopping.

but i heard that many shopkeepers accepting bitcoin and i hope that bitcoin will be also acceptable in local shop in your country and bitcoin is trusted currency because people easily will accept bitcoin in their shopping center.

yes in some places for example in Brazil the shopkeepers already accept bitcoin, actually the number of bitcoin users are more there as compare to other places and that is the only reason that even the shopkeepers have good knowledge about bitcoin and therefore they are accepting bitcoin in their shops.

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.

Zenithar

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Quote from: guoyu78 on May 07, 2017, 05:06:02 PM

Quote from: ArnoldChippy on May 07, 2017, 04:40:35 PM

Quote from: jeraldskie11 on May 07, 2017, 09:23:49 AM

At the beginning of bitcoin it is not accepted in our economy as a currency. But they will study the bitcoin that what was the benefits of it in our economy later on bitcoin is accepted as a currency. There are some bitcoin used for criminal transaction because it is anonymous.

and specially in physical shops the shopkeepers are not ready to accept bitcoin, i think still it will take a lot of time when all the people of the world will start using bitcoin and the all the shops will also accept bitcoin for shopping.

but i heard that many shopkeepers accepting bitcoin and i hope that bitcoin will be also acceptable in local shop in your country and bitcoin is trusted currency because people easily will accept bitcoin in their shopping center.

yes in some places for example in Brazil the shopkeepers already accept bitcoin, actually the number of bitcoin users are more there as compare to other places and that is the only reason that even the shopkeepers have good knowledge about bitcoin and therefore they are accepting bitcoin in their shops.

lionheart78

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Quote from: ahmia39 on May 07, 2017, 04:18:52 AM

Bitcoin will remain a currency at least for online entrepreneurs. Or even very possible later bitcoin will be recognized as a means of payment.

I agree bitcoin will always be a currency. Now it is even recognized as mode of payment. Bitcoin might have another function like store of value or digital gold, but Bitcoin main purpose will always be a currency. It is bitcoin's strength and purpose. So definitely anyone who is thinking that bitcoin is no longer a currency needs to check more about Bitcoin and it's current function.

guoyu78

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Quote from: ArnoldChippy on May 07, 2017, 04:40:35 PM

Quote from: jeraldskie11 on May 07, 2017, 09:23:49 AM

At the beginning of bitcoin it is not accepted in our economy as a currency. But they will study the bitcoin that what was the benefits of it in our economy later on bitcoin is accepted as a currency. There are some bitcoin used for criminal transaction because it is anonymous.

and specially in physical shops the shopkeepers are not ready to accept bitcoin, i think still it will take a lot of time when all the people of the world will start using bitcoin and the all the shops will also accept bitcoin for shopping.

but i heard that many shopkeepers accepting bitcoin and i hope that bitcoin will be also acceptable in local shop in your country and bitcoin is trusted currency because people easily will accept bitcoin in their shopping center.

FasTroy

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Quote from: jeraldskie11 on May 07, 2017, 09:23:49 AM

At the beginning of bitcoin it is not accepted in our economy as a currency. But they will study the bitcoin that what was the benefits of it in our economy later on bitcoin is accepted as a currency. There are some bitcoin used for criminal transaction because it is anonymous.

You are right, but criminal activity does not mean that bitcoin is not accepted in our economy as a currency, you are right it's anonymously. but also we can use fiat for criminal activity too.
Nowdays, bitcoin are accepted anywhere in the internet not all of them but in a lot of marketplaces. So maybe one day will be accepted in the real world.

ArnoldChippy

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Quote from: jeraldskie11 on May 07, 2017, 09:23:49 AM

At the beginning of bitcoin it is not accepted in our economy as a currency. But they will study the bitcoin that what was the benefits of it in our economy later on bitcoin is accepted as a currency. There are some bitcoin used for criminal transaction because it is anonymous.

and specially in physical shops the shopkeepers are not ready to accept bitcoin, i think still it will take a lot of time when all the people of the world will start using bitcoin and the all the shops will also accept bitcoin for shopping.

whizter

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Quote from: Shiroslullaby on May 07, 2017, 09:06:28 AM

Right now its a currency/ speculative investment.
Fees are getting to the point that its not worth sending micro-transactions (unless you are willing to wait hours/ days)
so its basically for people who already have money to send medium/ large payments, and invest with the hope of increase in price over time.

bitcoin is a currency no doubt about that and hope that it will continue as currency for ever, in face i present time the users of bitcoin are not too much therefore most of the people are using bitcoin for investment only but hope that in future we will be using bitcoin both for investment as well as a currency also.

deisik

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English ⬄ Russian Translation Services

Quote from: MingLee on May 06, 2017, 11:34:30 AM

Quote from: hulla on April 04, 2017, 09:09:06 PM

Quote from: FlightyPouch on April 03, 2017, 05:19:14 PM

Quote from: buharikx31 on March 18, 2017, 12:51:34 PM

It's still a currency, but right now the price was changing really fast. I think better to sell right now your coins and wait for any dumps, if you read the last news we had a lot of issues with lost bitcoins 3 billion bitcoins been wiped. Indeed, we know that anything can happend in this 2 weeks better to buy some fiat money and save them for next invest

I dont think that it was treated still as a currency, when is the last time you paid for something using bitcoin? It is treated now as an asset especially to third worlds that do not have that much information bout the digital currrencies. In my country there are no bitcoin ATMs and there are only few stores that accept bitcoin, which is really dissapointing. So what will you do with your bitcoin when you can't use it to buy something, you save them, and the very good way to earn is to wait for a good price and sell it or convert to real money. It is an asset.

Yes, bitcoin is an asset but this doesn't mean bitcoin is not a currency. I have something for all of you that said bitcoin is not currency. Anything that have values or can be used in making payments or can be transferred digitally are also asset? Therefore, the so call currency you spent in your country is also an asset.

If anything Bitcoin makes an interesting debate on where something of value that is divisible and easily spendable changes from an asset to a currency, or the other way around. There aren't really any good ways to reference the information for something like this since the only instance we've had was gold (and other metal) coins transitioning into bars and the like, but the thought experiment is interesting nonetheless. I've heard that there is a different between currency and money, so where does Bitcoin fit in?

I don't think that this difference makes a lot of sense and relevance

Provided there is any at all. Anyway, it would be of purely scientific or academic interest mostly. Nevertheless, there is still a substantial difference between a genuine currency or money and a financial asset which has almost all required features for the former except the most important one (i.e. universal acceptance as a means of payment and exchange). More specifically, I can point out at least three factors that prevent Bitcoin from turning into a full-fledged currency (i.e. from acquiring universal adoption as a means of payment). First, it is severe volatility, and it is likely the strongest factor. Second, it is long confirmation times which nowadays make it uncompetitive against fiat in any retail or online business which requires instant payments. And third (and likely the weakest factor), it is deflationary nature of Bitcoin, though this is also the most debatable factor among these three factors which prevent Bitcoin from becoming a genuine money

jeraldskie11

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At the beginning of bitcoin it is not accepted in our economy as a currency. But they will study the bitcoin that what was the benefits of it in our economy later on bitcoin is accepted as a currency. There are some bitcoin used for criminal transaction because it is anonymous.

omonuyak

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Quote from: asriloni on February 13, 2017, 08:36:56 PM

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.

Though bitcoin has a feature of what op describe bitcoin to be such as commodity, store of values and stock like amazon and facebook! seen bitcoin as commodities make bitcoin to losses it fundamental nature of it been decentralized crypto currencies and seen as stock will undermined it values as money.

Shiroslullaby

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Right now its a currency/ speculative investment.
Fees are getting to the point that its not worth sending micro-transactions (unless you are willing to wait hours/ days)
so its basically for people who already have money to send medium/ large payments, and invest with the hope of increase in price over time.

batang_bitcoin

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Quote from: onrise on May 06, 2017, 09:25:02 PM

Quote from: batang_bitcoin on May 06, 2017, 06:17:36 PM

Quote from: akar87 on May 06, 2017, 11:23:31 AM

Bitcoin is more than just a currency. Bitcoin can be used as an investment that provides a better profit than what we previously did. Popularity bitcoin's evidence bitcoin has a bright future.

Those people that are saying that bitcoin is dead and it is no longer a currency are the ones who want to make the others worry about their investment in bitcoin. Definitely bitcoin is more than a currency, it is a all in one currency , investment and remittance payment method.

Well to an extent you are right since the bitcoin price as rose now to all time nearly those who hold the btc have gained significantly. Now those who have sold out have missed this rally and are little suspicious about it and this is making their thinking in this way I suppose.

They can't accept the fact that they are missing a lot of good things with bitcoin. If they are the ones that sold their btc's at early and lower price, it's their problem but they can still cope up because the price of bitcoin will keep on rising. And for those people that really doesn't have something to do, they just want to make bitcoin's image bad.

ahmia39

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Trident Protocol | Simple «buy-hold-earn» system!

Bitcoin will remain a currency at least for online entrepreneurs. Or even very possible later bitcoin will be recognized as a means of payment.

findingthemoon

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Quote from: anami57 on May 06, 2017, 10:49:42 PM

Quote

That is why it is good to hold bitcoin so we will not missed any kind of rally for the price. If the price of bitcoin goes down then hold it and don't sell it and the best thing to do in that situation is to just continue to add more and more bitcoin in that amount so if another rally starts then you can easily get a lot of profit because you took advantage from buying cheap bitcoins. Don't sell like other already did because they didn't realize their possible profit in the future.

Bitcoin is the result of modern technology, like credit cards. Bitcoin makes it easier for many people to make financial transactions. Bitcoin is much better than currency.

Until there are suitable scaling issues bitcoin will never be currency. It is currently suffering from politics that people suggested bitcoin would be immune to, but alas it is not, everyone will fight over control of anything with value in this world.

That being said its not necessarily a bad thing if bitcoin is like some form of asset that is rarely transacted, at least for most hodlers its a good thing.

DrGuns4Hands

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Every bubble has a story, and Bitcoin has been no exception. The increasing price of Bitcoin will increase demand for Bitcoin. It's a speculative bubble just as hoarding is reducing supply. In other words, prices will go vertical. Bitcoin is more than a currency and an assest for me. So I'm holding my cryptocurrency, buy more when my money is enough to purchase again.

Those people utterly that bitcoin is dead and no longer a currency are the ones who make others worry for their investment.

anami57

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Quote

That is why it is good to hold bitcoin so we will not missed any kind of rally for the price. If the price of bitcoin goes down then hold it and don't sell it and the best thing to do in that situation is to just continue to add more and more bitcoin in that amount so if another rally starts then you can easily get a lot of profit because you took advantage from buying cheap bitcoins. Don't sell like other already did because they didn't realize their possible profit in the future.

Bitcoin is the result of modern technology, like credit cards. Bitcoin makes it easier for many people to make financial transactions. Bitcoin is much better than currency.

Sled

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Bitcoin- in bullish time

Quote from: onrise on May 06, 2017, 09:25:02 PM

Quote from: batang_bitcoin on May 06, 2017, 06:17:36 PM

Quote from: akar87 on May 06, 2017, 11:23:31 AM

Bitcoin is more than just a currency. Bitcoin can be used as an investment that provides a better profit than what we previously did. Popularity bitcoin's evidence bitcoin has a bright future.

Those people that are saying that bitcoin is dead and it is no longer a currency are the ones who want to make the others worry about their investment in bitcoin. Definitely bitcoin is more than a currency, it is a all in one currency , investment and remittance payment method.

Well to an extent you are right since the bitcoin price as rose now to all time nearly those who hold the btc have gained significantly. Now those who have sold out have missed this rally and are little suspicious about it and this is making their thinking in this way I suppose.

That is why it is good to hold bitcoin so we will not missed any kind of rally for the price. If the price of bitcoin goes down then hold it and don't sell it and the best thing to do in that situation is to just continue to add more and more bitcoin in that amount so if another rally starts then you can easily get a lot of profit because you took advantage from buying cheap bitcoins. Don't sell like other already did because they didn't realize their possible profit in the future.

onrise

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Quote from: batang_bitcoin on May 06, 2017, 06:17:36 PM

Quote from: akar87 on May 06, 2017, 11:23:31 AM

Bitcoin is more than just a currency. Bitcoin can be used as an investment that provides a better profit than what we previously did. Popularity bitcoin's evidence bitcoin has a bright future.

Those people that are saying that bitcoin is dead and it is no longer a currency are the ones who want to make the others worry about their investment in bitcoin. Definitely bitcoin is more than a currency, it is a all in one currency , investment and remittance payment method.

Well to an extent you are right since the bitcoin price as rose now to all time nearly those who hold the btc have gained significantly. Now those who have sold out have missed this rally and are little suspicious about it and this is making their thinking in this way I suppose.

madcow1713

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Yeah and since there is miner stores (and a few others) that do take bitcoin as payments. I've used it. Heck and with the recent addition of cards like the shift visa card that allow you to swipe for purchases straight from a BTC wallet I think the usability is going up every day.

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