Topic: Bitcoin is not a currency? - page 15. (Read 1999 times)
Bitcoin is a digital currency that can be withdrawn into real real money, and if it can be withdrawn, it means that it's a currency
What is currency ? There are some properties of currency that is decided by the government.Right now gov. is not able to adopt Bitcoin.Once it will univerasally adopted,then it will become currency automatically.
The one said that Bitcoin is not a currency and it is a asset. And the benefit of using bitcoin would be to eliminate the hassle of exchanging currencies and clearing the money through banks.
The bitcoin software is still in the beta stage, and many features are still being developed. Still developing new tools, options and services that will make bitcoin even safer and more convenient, not yet ready for use. Most of the bitcoin-related companies are still at an early stage of development, and offer no guarantees. In general, bitcoin is still in the process of becoming and has not acquired all the qualities of the currency.
At present, in classical terms, bitcoin has not acquired all the qualities of currency. So far, bitcoin is a speculative asset. To become a currency, bitcoin should be legalized by all countries and legally defined.
I think he is still lacking knowledge of bitcoin, now bitcoin is very much developed and many countries have legalized bitcoin. now bitcoin has a lot of devotees, and they believe bitcoin is a valuable asset for now as well as for the future.
I found a video on YouTube https://youtu.be/qTxPfxmkLIY that according to this man (Warren Buffett) said "Bitcoin doesn't meet the definition of a currency" and he said that "he would not be surprised if bitcoin is not around in 10 or 20 years".
Is he a hater of bitcoin? while other big names appreciate the bitcoin.
Your thoughts?
Is he a hater of bitcoin? while other big names appreciate the bitcoin.
Your thoughts?
It is not classic currency, and this do not mean that it is bed, it differs and this fact is the value of the bitcoin.
Many person looks bitcoin as an currency, it is be an money and rich for your. But indeed, bitcoin is bring and new range, it is open of new time, take in to blockchain, so i think it is more important bitcoin is not a currency, it is an represent of new technical in encrypt currency. So it is constitutor of the rule of encrype payment, it is an revolution. Now it is not just in currency, in many area is using blockchain technical.
I found a video on YouTube https://youtu.be/qTxPfxmkLIY that according to this man (Warren Buffett) said "Bitcoin doesn't meet the definition of a currency" and he said that "he would not be surprised if bitcoin is not around in 10 or 20 years".
Is he a hater of bitcoin? while other big names appreciate the bitcoin.
Your thoughts?
Is he a hater of bitcoin? while other big names appreciate the bitcoin.
Your thoughts?
Now bitcoin does not meet the definition of currency, as dollar for example, it differs from fiat money, and this is normal it is something new and digitized. As to the existence of bitcoin in 5 or 10 years nobody knows what will happen, many things might be changed in this period of time.
If he understands this then most probably he's already an investor in bitcoin. Anybody can claim bitcoin will be $100k or nothing in the next 10 or so years. Doesn't necessarily mean that they are right. Bitcoin has other potential other than being a currency.
Actually yes bitcoin is not a physical currency that every person can touch or hold like paper bills and coins ,as it is term it is considered as digital currency which uses crypto technology in which this bitcoin is secret ,altcoins, virtual currency but with value in the digital market.
Because most people have never heard of this one trend. For simplicity, BitCoin can be regarded as a virtual currency. Some people think BitCoin is a silly concept, while others consider BitCoin to slowly evolve into the currency of the future.
If he understands this then most probably he's already an investor in bitcoin. Anybody can claim bitcoin will be $100k or nothing in the next 10 or so years. Doesn't necessarily mean that they are right. Bitcoin has other potential other than being a currency.
Your definition of currency is insufficient in this context because we are talking about currency that is money (as opposed to, say, political currency)
The definition of money is:
Money is often defined in terms of the three functions or services that it provides. Money serves as a medium of exchange, as a store of value, and as a unit of account.
But bitcoin does not serve as a unit of account. The number of businesses who buy and sell things in fixed bitcoin amounts can probably be counted on one hand. Why don't people buy/sell things in dollar amounts? Because the value is too unstable.
So by those definitions, Bitcoin is not money, and it's not really currency either. (yet?)
The definition of money is:
Money is often defined in terms of the three functions or services that it provides. Money serves as a medium of exchange, as a store of value, and as a unit of account.
But bitcoin does not serve as a unit of account. The number of businesses who buy and sell things in fixed bitcoin amounts can probably be counted on one hand. Why don't people buy/sell things in dollar amounts? Because the value is too unstable.
So by those definitions, Bitcoin is not money, and it's not really currency either. (yet?)
I found a video on YouTube https://youtu.be/qTxPfxmkLIY that according to this man (Warren Buffett) said "Bitcoin doesn't meet the definition of a currency" and he said that "he would not be surprised if bitcoin is not around in 10 or 20 years".
Is he a hater of bitcoin? while other big names appreciate the bitcoin.
Your thoughts?
maybe he got some idea and he only narrated what he thought about it, actually btc is not a currency that we can hold or touch that's why its different from the other. If you recognize it as a currency then be it. If they dont, then let them. Is he a hater of bitcoin? while other big names appreciate the bitcoin.
Your thoughts?
Bitcoin is both a currency and an asset. Just like gold in the old days but now it's all digital. I don't think bitcoin will be gone in 20 years, it will always be here. There are chances that another coin will surpass it but it will not die.
I think bitcoin is not just a small currency but it will also be a global currency for all. I agree if Bitcoin is not a small currency. Because there are still many countries that do not legalize Bitcoin. And there is no government governing Bitcoin. If you think my Bitcoin is just creating a future asset.
Bitcoin has finally closed a daily candle above the long term downtrend line. If we starting to close candles above the $11200 mark, that signals we are on wave 2 out of a new 3 wave impulse. Next target would be around $12200-$13000.
Indeed, bitcoin does not yet meet the accepted definition of crypto currency. When such a definition was drawn up, no one could even imagine that there could still be digital money claiming to name the currency. Whether bitcoin or other crypto currency will be considered a currency depends on how firmly the crypto currency will enter our life and will be recognized by the majority of states. If this happens, then the concept of currency will be changed to include a digital currency.
Davos is clear on bitcoin: It's an interesting investment, but please don't call it a currency.
Bitcoin's volatile ascent has transformed it from a tech industry curiosity to a major topic of discussion at this year's World Economic Forum.
Yet the consensus in Davos, Switzerland, is that bitcoin will never be as useful as the dollar or yen in the real world.
"The central banks have been nurturing the [financial] system for centuries... we've got a good thing going on," Nobel laureate Robert Shiller said at a debate about the cryptocurrency.
Cecilia Skingsley, deputy governor of Sweden's central bank, said she had "no problem with people using [bitcoin] as an asset to invest in."
http://money.cnn.com/2018/01/26/technology/davos-bitcoin-currency-asset/index.html
Bitcoin's volatile ascent has transformed it from a tech industry curiosity to a major topic of discussion at this year's World Economic Forum.
Yet the consensus in Davos, Switzerland, is that bitcoin will never be as useful as the dollar or yen in the real world.
"The central banks have been nurturing the [financial] system for centuries... we've got a good thing going on," Nobel laureate Robert Shiller said at a debate about the cryptocurrency.
Cecilia Skingsley, deputy governor of Sweden's central bank, said she had "no problem with people using [bitcoin] as an asset to invest in."
http://money.cnn.com/2018/01/26/technology/davos-bitcoin-currency-asset/index.html
For me bitcoin is currency, because i used it in specific transaction that accept bitcoin as payment, thats why many people invest in bitcoin, it has value, in can be used in many transactions.
It can be use as both as the currency and the asset you are right people use to invest in bitcoin for online shopping and the payment for it, now a lot of super markets are accepting bitcoin they are going to make bitcoin as regular currency after a few years so people are investing now and it will be very good for them in future when bitcoin will be acceptable everywhere and it will be more valuable as a currency and as saving for the future. I found a video on YouTube https://youtu.be/qTxPfxmkLIY that according to this man (Warren Buffett) said "Bitcoin doesn't meet the definition of a currency" and he said that "he would not be surprised if bitcoin is not around in 10 or 20 years".
Is he a hater of bitcoin? while other big names appreciate the bitcoin.
Your thoughts?
Is he a hater of bitcoin? while other big names appreciate the bitcoin.
Your thoughts?
Anyone is entitled to their own opinions and how they perceive bitcoin. Some love it and some may not, and some are unsure. Just like any other polls, opinion vary greatly. So maybe this warren fellow is one of those that does not like bitcoin, and does not like people getting profit out of it, or he can have any other reasons but bottomline is he don't like it.
On the other hand, countries also have their different perspective about it, other see it as property while others as currency in the digital world.
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