Topic: Bitcoin is not a currency? - page 4. (Read 1973 times)
For me, you can define bitcoin on how you handle it, if you used it in specific transactions, then you can call it as a currency, and if you handle a bitcoin for future purposes, then you can call it as an investment.
It seems to me that bitcoin is a digital virtual currency. It is clear that the classic definition of currency bitcoin may not respond. But we ask the question: when was this definition given? When there was no crypto currency. Now the more urgent issue is the need for legal regulation of bitcoin, its recognition and other crypto-currencies as a virtual digital currency or asset.
FIAT money doesn't carry any monetary value if government call it illegal overnight, in the same way, bitcoin itself will carry no value if the price falls to zero. It will take a lot of time for people to consider it as a currency. More outlets need to stop accepting bitcoin so that people can buy day to day goods with it, only then will people start seeing it as a currency. Otherwise, people are only considering bitcoin as an asset for now. Just like we trade stocks on stock market, in the same way people consider this bitcoin a stock and indulge themselves in trading.
Yes of course bitcoin is not a currency. Many think the bitcoin is digital gold, and bitcoin is the best asset to invest. So bitcoin is not worth the money.
Actually you can call it a currency because currency is use to buy a item or product its a medium used to access other materials. Bitcoin can be considered as a type of currency in the internet nowadays. Although it has not yet emerged as the official money to any transaction that we made. Bitcoin is a money, and it is used in lots of countries in the world. Since both of the conditions are met, then Bitcoin could be categorized as currency.
However since there is no authority in all of us.
However since there is no authority in all of us.
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?
His thoughts might too illogical for me, or may be just subjective. Bitcoin is a currency based on what I understand from various sources here because it is been used as payment option. May be the person only considers fiat as currency because of the physical aspect and involvement of the government. He might also not appreciate the beauty of decentralization of cryptocurrency.
He said that Bitcoin is not a currency. It's okay, maybe it's not the currency for him because the currency he uses is just Dollars. Similarly, in my country Indonesia, consider Dollar is not the currency of Indonesia, because the currency in use is the rupiah.
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?
First, he’s very right by saying that Bitcoin is not a currency, it’s not a currency and can’t be one for any country. Bitcoin is just an asset, and I believe the main purpose is to be used as an investment just like we do with Gold. But where I don’t support him is where he said that Bitcoin won’t be around in the next 10 or 20 years, that’s a lie… I’m not in support of that. I’m very sure that Bitcoin will be around for a very long time.Is he a hater of bitcoin? while other big names appreciate the bitcoin.
Your thoughts?
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?
His talk means nothing, he just the old man who don't like bitcoin, don't care about him. We'll see what will happen in next few yearsIs he a hater of bitcoin? while other big names appreciate the bitcoin.
Your thoughts?
Bitcoin has already become a popular medium of exchange, and in some places started trading commodities by this. In this case, Bitcoin can be considered as a type of currency. Although it has not yet emerged as the official currency.
Cryptocurrency make digital payments and money for everyone more secure than it usually is by using blockchaing technology in it
I think bitcon can be said as currency because we can use it to buy something but we can only use it online so in need of internet, so bitcoin is digital currency
Bitcoin is a electric data. No people can use it physically. They have to use it at online if they wants to deal with this coin. There is no genuine certificate has been given by any government to this coin so that we can not take it as a legal currency. Bitcoin is a cryptocurrency and there is no any type of legal documents about this coin by any government as well even some government have banned his coin in their country. If you want to deal with this coin then you have to take the decision with your own responsibility.
It is clear that under the classical definition of currency bitcoin is not suitable, because when such a definition was written, the crypto currency was not yet in existence. While we should not pay too much attention to this question. The main thing for us now is that bitcoins and other crypto-currencies should be recognized as legal tender. After a while, the concept of currency can be changed already under the definition of a crypto currency.
By definition, he may probably be right. But, with things changing so fast day by day, especially in this technological era, we can't say for sure that bitcoin won't become a currency.
Based on bitcoin is an asset like commodity, bitcoin is digital commodity and also can be a currency for the online payments
So, it depends on you how to use of bitcoin.
So, it depends on you how to use of bitcoin.
I think bitcoin is a currency. I use it as an currency dor transaction of money. Many may use it as an asset but I prefer to use it as currency.
The value of bitcoin goes ups and downs very fast. So, many gamble in it. When the price is low they buy bitcoin and when the price becomes high then they sell them. But I think to make bitcoin and all the crypto currency as a global currency we all must use it not as an asset but as a currency.
The value of bitcoin goes ups and downs very fast. So, many gamble in it. When the price is low they buy bitcoin and when the price becomes high then they sell them. But I think to make bitcoin and all the crypto currency as a global currency we all must use it not as an asset but as a currency.
actually maybe not as we are used to understand, but it is still a tool of payment and recieving payments. We can still buy and sell for it.
I think this is individual opinion for each who WILL thinking about that, but it is very simple to use digital currency
Bitcoin has already become a popular medium of exchange, and in some places started trading commodities by this. In this case, Bitcoin can be considered as a type of currency. Although it has not yet emerged as the official currency.
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