Topic: Bitcoin is not a currency? - page 19. (Read 1999 times)
Bitcoin is not a currency as of now because we cannot use it as a currency like the fiat that you just give the payment then you will be okay because in bitcoin, you need to wait for the confirmation before the cashier can declare that the transaction between you and the cashier is official and the problem is, you need to pay extra bucks for fees just to do a payment.
I believe Warren Buffett is a non believer of Bitcoin because he doesn't know much about it, how it works, its advantages, its technology and how it actually help people change their lives financially. For those who have had their lives changed, his words and beliefs about bitcoin, won't matter at all.
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?
you know what?instead of reading and watching about this nonsense issues.why not spend your time on crypto buy trading good coins or better do some other valuable things..this kind of videos only means one thing,bitcoin is most popular among them all and unstoppable thats why so many issues has been thrown to us.but always fail to make this community down. Is he a hater of bitcoin? while other big names appreciate the bitcoin.
Your thoughts?
My opinion about this new individual, that bitcoin is an investment and transaction, bitcoin is an easy-to-use digital currency.
Because for us bitcoin a bright future, easy to get more profit, according to our society bitcoin is very safe and easy to use in all forms, although currently in my bitcoin country is very famous.
Because for us bitcoin a bright future, easy to get more profit, according to our society bitcoin is very safe and easy to use in all forms, although currently in my bitcoin country is very famous.
I agree with everything you said other than the "easy to use" comment. There is still no easy way to really use bitcoins. It's easier for more techy and younger people to understand how to use it. But there is still not an easy way to use it or understand how to use it for a major general population.
I strongly disagree about bitcoin is not a currency. Bitcoin is a currency, a cryptocurrency were only exist in computer and could buy any item online. I think the difference between the currency and the crypto one is the currency has a value and an actual visualization while the crypto is also has a value and but without actual visualiziation. But still the VALUE is indicated, bitcoin is a currency.
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?
I believe that some wealthy gentleman are just envy of those people who earn their wealth from cryptocurrency because it was the easier way rather than working hard on the corporate world and earn a few amount of salary or maybe he is not knowledgeable enough about cryptocurrency that's why he tell those wrong words.
My opinion about this new individual, that bitcoin is an investment and transaction, bitcoin is an easy-to-use digital currency.
Because for us bitcoin a bright future, easy to get more profit, according to our society bitcoin is very safe and easy to use in all forms .
Because for us bitcoin a bright future, easy to get more profit, according to our society bitcoin is very safe and easy to use in all forms .
It was his opinion of Warren buffett that bitcoin is not currency based on his studies. For us we believe in our opinion that bitcoin is considered both as an investment at currency. It was a currency because it can be used as payment to selected stores. As of now, it was not accepted by all stores however we still hope that in years come, it will be introduce to all stores and can accept bitcoin as made of payment.
Doesn't makes any sense, useless video.
You should better google it rather then promoting such useless videos.
You should better google it rather then promoting such useless videos.
Say hello to everyone) it is the coin is young and yet many trust in it and are afraid from for that that do not know that this such. In due course all will change also it we see today as many people are interested bitcoin and still in other coins.
I think the same; bitcoin is not a currency. It may be created as a peer to peer payment method and a currency however it evolved into a commodity. Sometimes inventors invent something with a purpose but people use that invention in a different way because of their needs. For example internet was not invented for people sharing their private photos on the internet for earning likes, or internet was not invented for downloading porn videos for free. People used internet for these things because of their needs.
Bitcoin is a commodity and a hedge for fiat currencies, it is the modern version of gold. People thinks keeping bitcoin is safer than keeping gold, that is why they prefer using bitcoin as a commodity and this is fine.
Bitcoin is a commodity and a hedge for fiat currencies, it is the modern version of gold. People thinks keeping bitcoin is safer than keeping gold, that is why they prefer using bitcoin as a commodity and this is fine.
Bitcoin is not a currency, it's a very valuable technology. The currency will be when it is legalized at the legislative level in the country.
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?
There are a lot of people who talk down on cryptocurrency. But the answer is right in front of you.
People have been talking down on it when it was at only $30, then it rose to $300. Then people were still talking down on it at $300 and it rose to $700. Then people were still talking down on it at $700 and it rose to $20,000... And then people are STILL talking down on it at $20,000....
See the trend? So what do you think is going to happen? go up or down? Become a true currency or not? I think I will stick to the trend and say it will still keep going up and will become one of the most widely used currencies out there. Don't know how long that will take, but it will happen.
Bitcoin is a cryptocurrency and not a currency like a paper money, but bitcoin is convertible into a real currency which used directly to purchased goods and products. Eventhough bitcoin is not actually a currency like money but the opposite value of bitcoin is more highly compared to currency like money, that's why many people are wanted to earn bitcoin because of the total value when converted into real money.
Well, bitcoin was originally made for the purpose of being the official currency of the internet. However, due to some circumstances from the past, like the fact that its value is purely speculative, it became a very volatile product and therefore couldn't be used for the purpose. However, many people saw potential in bitcoin's volatility rate and used it for their gain and made bitcoin an asset.
Bitcoin exists as a challenge to the international monetary system, but because it has the moniker of “cryptocurrency,” it is assumed by the uninformed to be something that it isn't. Bitcoin, and all these other cryptocurrencies, are not currencies.
Warren Buffet is a selfmade billionair, who has earned his fortune by hard labor, courage and vision. But that was long ago. Of course he still has the vision and he might be right about Bitcoin not being a currency. Today bitcoin still is more of an investment asset than a currency, because of the high fees and lengthy waiting times. But hopefully this will soon be solved with Lightning Network or with Schnorr signatures.
Well, he is right. And not just that, a whole term "cryptocurrency" is a misnomer.
A currency refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins that are recognized as a legal tender.
Bitcoin misses quite a few things to be defined as a currency and top two are: - 1. still not really a medium of exchange, only in small scale, 2. not recognized legally by any state as a national instrument for payments.
A currency refers to money in any form when in actual use or circulation as a medium of exchange, especially circulating banknotes and coins that are recognized as a legal tender.
Bitcoin misses quite a few things to be defined as a currency and top two are: - 1. still not really a medium of exchange, only in small scale, 2. not recognized legally by any state as a national instrument for payments.
We should respect his opinion but I beg to differ with his opinion because even if Bitcoin is not like the other traditional currencies out there, it is a better payment system coming up with a disruptive model of transferring the funds. It is the subject matter of governments to classify it as a currency, commodity or a computer software but for us it is a payment system with high potential.
To be fair it is originally meant to be considered as a currency for the internet. However, due to its highly volatile nature it couldn't serve that purpose. But people have found a way to make use of it and that is to use it as an asset of profit from investment. I think it could settle like that for a decade or so, But people must create measures to prevent this high volatile rate of bitcoin so it could have a bright future as a currency.
Bitcoin is a cryptocurrency like a virtual type but completely different from physical money. Bitcoin can be used as a digital currency for online transaction whereas fiat used for offline transaction. So bitcoin can also be considered as currency. Jump to: