Topic: Bitcoin is not a currency? - page 20. (Read 1975 times)
A currency is something like money which can be used to buy and sell things. Bitcoin is not being used in this way. Instead, people buy and sell bitcoin to make profit from its change in price. It's similar to buying shares in a company. Shares in a company are also not currency. You don't buy shares in order to use them to buy and sell things. You buy and sell shares to make profit from their change in price, exactly like with bitcoin.
I can tell you for sure that vitcoin will not be here in 20 years, crypto will be, but bitcoin won't.
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.
Crypto currency, including bitcoin, serve as a means of payment, that is, money. However, not all money, from the point of view of the world economy, is a currency. The currency will be money only if the states agree that certain money will be used for interstate financial settlements and establish a rate of binding such currencies to their national money. In this case, the dollar, the euro is a currency, and most of the national money is not. Since there is an exact scientific definition of the currency, the crypto currency is not yet applicable to them. However, this is a problem of wording. When it was compiled, no one could foresee that digital virtual money might appear, some would pretend to be a currency. When the crypto currency will gain weight in the society, the concept of currency can be changed and then it will become a full 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?
yeah its not a currency but it is a kind of crypto currency that shows like a true money to use for buying and changing a poor life. Is he a hater of bitcoin? while other big names appreciate the bitcoin.
Your thoughts?
"[Bitcoin is] unsuitable as a currency, because people are far more likely to hold it in anticipation of it appreciating in price." -- Kain Warwick
It is true.
BTC is not a currency. It's an asset, like gold, copper, silver.
Some altcoins are more close to be currency, such as: BCH, Ripple, Monero etc.
BTC is not a currency. It's an asset, like gold, copper, silver.
Some altcoins are more close to be currency, such as: BCH, Ripple, Monero etc.
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?
We can not lose the sense of reason because we talked about bad bitcoin. We are bitcoin proponents, but we are not cultaries，we accept Bitcoin's criticism and goodwill advice. I do not think this person is a bit Opponents of the currency, on the contrary, I think some of his suggestions I can still accept and think deeply. Is he a hater of bitcoin? while other big names appreciate the bitcoin.
Your thoughts?
Bitcoin is a cryptocurrency and worldwide payment system. Bitcoin is a new currency that was created in 2009. find a wallet, buy bitcoin, shop with bitcoin, read bitcoin news, and get involved on the forum.
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Bitcoins are a real currency, which can soon displace all known to us at the moment.
Bitcoin is a crypto currency, he may be enjoyed earning fruitful profits with bitcoin. We can convert currency into bitcoin and bitcoin crypto currency into currency to meet the daily needs as bitcoin usage is not extremely become legit.
My opinion Bitcoin was originally invented as a peer to peer digital currency that a fast, secure, decentralized and to and to be acceptable worldwide.
Everyone has their own opinions. Everyone is free to talk everything's about anything. Whatever he is a hater or lover of bitcoin, bitcoin is a digital currency, no one can predict anything about bitcoin. Just make him opinion to knowledge of bitcoin. For now just earn your profits from this digital currency.
bitcoin is a kind of crypto currency ... indeed when in its world bitcoin is still questionable as which currency ... but bitcoin has a considerable interest rate ... when in the virtual world bitcoin become crypto currency which is very popular
Maybe not a virtual but still a currency that is only digital. Even though its a digital currency, it has the ability of a physical money when it comes to payment and buying products through online, like the other past food chains and restaurants that accept also bitcoin for payments. So you can not say that bitcoin is not a currency at all.
may be more so called modern means of payment. because the bitcoin is not intangible, so it is true this can not be called with the currency. perhaps many people assume that way because the bitcoin is intangible. so I myself think bitcoin is just a means of payment
I will not listen to what he said, he just won't buy COINS, and currency in the future replace now currency as legal tender in the future, he will feel how foolish it is what he said today
I am pretty sure Buffet will be gone long before bitcoin does LOL
Anybody could have their own opinion and judgment, you cant blame hame either, nothing to worry about here.
But yeah, it is no longer a perfect example of currency now because how hign the price is. But it is a good asset
Anybody could have their own opinion and judgment, you cant blame hame either, nothing to worry about here.
But yeah, it is no longer a perfect example of currency now because how hign the price is. But it is a good asset
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?
In some point he is right. We cannot consider Bitcoin as a currency today as its still facing some issues like high transaction fees and slow transaction procedures, in short Bitcoin is still unstable and still cant match the fiat currency. But once it becomes stable and can match the traditional banking system, this will eliminate big names in the business industry. Some big names are just afraid of Bitcoins future thats why they stand against it.
it is an asset. there are two big problems with bitcoin as a currency: its value is unstable and its transaction processing is too slow. The most important feature of a currency is that it be a stable store of value. Another basic feature of a currency, beyond being a stable store of value, is to facilitate transactions
Maybe not a virtual but still a currency that is only digital. Even though its a digital currency, it has the ability of a physical money when it comes to payment and buying products through online, like the other past food chains and restaurants that accept also bitcoin for payments. So you can not say that bitcoin is not a currency at all.
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