right now he is correct. to be a currency the price should level out en not be so volatile.
I here someone bought a house with bitcoin(don’t know if it’s true) but say you sell your house for 24 bitcoin and the price drops 40% seconds after you sold it…
Topic: Bitcoin is not a currency? - page 25. (Read 1994 times)
hero member
Activity: 672
Merit: 500
ADAMANT — the most secure and anonymous messenger
People like the Oracle of Omaha aka Warren Buffett is a old school investor. He does not like bitcoin as to him it is a new untested currency that has not been around a long time and has no physical corporation or board of directors. Him not liking bitcoin dpes not hurt it but if you can somehow convince the man who still spends $4 for breakfast then you never know what might happen to bitcoin.
It may be currency in some countries. In the United States, the IRS considers Bitcoin and other "virtual currencies" property. The gains on Bitcoin are also taxed as property gains, not as currency gains.
I mean Bitcoin is considered a currency because it has demand if it didn't the price would be 0 so honestly I don't even know if I consider it a currency.
Bitcoin should only be considered a personal asset because all Bitcoin transactions are late and the transaction fee is very high. I think XRP and BCH are the two most potent altcoin to watch as currency since each deal is processed very quickly.
Probably most people think bitcoin is not a currency because they do not yet know full what bitcoin is so they think bitcoin is not currency. But in my opinion, bitcoin is a virtual currency and anyone can have bitcoins.
Bitcoin has been categorized in to many different forms, such as a digital currency, a store of value and a commodity too.
But bitcoin was originally invented as a peer-to-peer digital currency that is fast, secure, decentralized and to be acceptable worldwide.
But bitcoin was originally invented as a peer-to-peer digital currency that is fast, secure, decentralized and to be acceptable worldwide.
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?
everyone is entitled to his/her opinion, this is what him believe, but you believe is what counts! Do you agree with what he said? Is he a hater of bitcoin? while other big names appreciate the bitcoin.
Your thoughts?
Yeah the fees are way too high and the tx times suck but it doesn't change the fact that it can still be used to pay for things.
If people and services start adopting SegWit, the fees needed to move value will decrease decently, but as long as SegWit adoption isn't picking up, people will still be subject to the current higher fees. Easy option I would say. Also, transaction times are pretty much near instant in most cases, so that's not really a problem. What you are referring to are the confirmation times, and yes, they more often than not work on people's nerves, especially in times where a higher fee translates into your transactions being included in a block sooner. In order to choose for a workable temporary solution, make use of SegWit....
It never was. The thing is bitcoins can never be classified as currency using the old and conventional description of what currency is in most jurisdictions. The reason is plain and simple, a currency is something that is backed up by commodity such as gold or that it is backed up by a centralized authority or state. Both of which are not something available in bitcoins. The issue is clear, bitcoins are something else and it needs to be classified by the governments different from currency.
You are right I think its become an investment coin maybe something similar to shares
It never was. The thing is bitcoins can never be classified as currency using the old and conventional description of what currency is in most jurisdictions. The reason is plain and simple, a currency is something that is backed up by commodity such as gold or that it is backed up by a centralized authority or state. Both of which are not something available in bitcoins. The issue is clear, bitcoins are something else and it needs to be classified by the governments different from currency.
It is wrong to say Bitcoin is not a currency. Currency serve as a media of exchange and a store of value, Bitcoins perform all this function. why then do we say Bitcoin is not a currency.
It goes without saying that he must be the hater. Why we cannot call Bitcoin currency even many people use it to buy something? In the other words there is no denying that is a currency, but a special kind of currency which isn't physical. People who know even a little information shouldn't take any notice of haters like he.
It's hard to predict the true value and the price of bitcoin because someone want crypto and someone also don't like it,i think why you think negative if you like right so it's base of experience here in any kinds of person so they can judge by that.Only thing i know bitcoin is good for everything that's all i can i say,Moreover don't think negative in crypto if you don't like it just leave.
Each person has a different view, We could not guess the future based on what is happening right now, we must appreciate every second that bitcoin exist and helps the people to rise up from poverty. No matter what happens, I assure this that bitcoin remarks the history of currency evolution.
Bitcoin is very much connected to the USD which is very sad to see as the banks and fiat money still control cryptocurrency because we all want to buy it using fiat money, then we hold on to it and sell it for back for fiat money so sadly the banks still have a huge hold over cryptocurrencys.
Only way it would become completly independant is if the price dropped and stabalised and the transaction fees droped a lot, so people could actully use it to buy and sell every day goods. Bitcoin is its own worse enemy and we are not helping it by pumping and dumping
Only way it would become completly independant is if the price dropped and stabalised and the transaction fees droped a lot, so people could actully use it to buy and sell every day goods. Bitcoin is its own worse enemy and we are not helping it by pumping and dumping
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?
Actually, he is one of so many people doing FUD's towards crypto. It is much better if we just ignored those things because it contribute nothing for the improvement to us. In stead, it helps only to to people from crashing our life. I know that we have our decision and also we have instinct to feel what is right and wrong. Is he a hater of bitcoin? while other big names appreciate the bitcoin.
Your thoughts?
Bitcoin as it is couldn't become a "global company" as it stands. Governments would never allow the people to control the economy in such a manner. It would be great if it could, and I hope it does to an extant but it is being watched closely by the fed for possible economic disruption, the rothchilds wouldn't allow such a thing
Yeah the fees are way too high and the tx times suck but it doesn't change the fact that it can still be used to pay for things.
If people and services start adopting SegWit, the fees needed to move value will decrease decently, but as long as SegWit adoption isn't picking up, people will still be subject to the current higher fees. Easy option I would say. Also, transaction times are pretty much near instant in most cases, so that's not really a problem. What you are referring to are the confirmation times, and yes, they more often than not work on people's nerves, especially in times where a higher fee translates into your transactions being included in a block sooner. In order to choose for a workable temporary solution, make use of SegWit....
In fact BTC is not a real current but that is his success. BTC is revolutionary. It gives new possibilities. A simple example: You can earn a lot more on investments in BTC. On the other hand it has some disadvantages, investing is risky.
Anyway I think cryptocurrencies, especially Bitcoin has bright future.
Anyway I think cryptocurrencies, especially Bitcoin has bright future.
Jump to: