Topic: Bitcoin is not a currency? - page 5. (Read 1973 times)

Some guys like Mr. Buffet think that Bitcoin and cryptocurrency is not a currency in itself. His explanation of such point of view rely on the situation that crypto is not wide accepted enough. But this is not an argument on my mind.

I strongly agree on your opinion that, people like Warren Buffet are not experts in technology field including bitcoin and cryptocurrencies and what they are experts in is finances, investment and stuff like that. And adding also my opinion that, buffett would be alive after twenty years, but bitcoin would still exist, bitcoin has proved its potential already and it is no more in need of any one's certification. And some praise bitcoin while some other predict that bitcoin would die. In addition, he saw bitcoins that way and his thoughts were that but most of the bitcoiners won't trust/follow it.

Representatives of the central bank of South Korea said that they can not recognize bitcoin and other digital assets as a means of payment. This is written by Bitcoin.com.

The statement was made shortly after the National Assembly of the Republic of Korea held a parliamentary audit of the country's central bank. When asked about the expediency of regulating the sphere of crypto-currency, representatives of the central bank stated the following:

"This [crypto currency] is subject to regulation, since it is regarded as a commodity. This is not regulation at the level of money ... At present, the Bank of Korea does not need to take any action. "

Representatives of the regulator also noted that digital currencies are likely to be considered only as a tool for interbank settlements and internal operations of the Bank of Korea.

Among other things, some representatives of the National Assembly from among the deputies from the South Korean Democratic Party noted that according to the results of the audit of the central bank, "bad conclusions" were made. In particular, the member of the Committee on Financial and Economic Planning, Son Yong Gil, criticized the bank's leadership for the lack of research in the field of digital currencies, including bitcoin and Ethereum.

"In Korea, there are more than a thousand companies that presumably use bitcoin. However, in the data submitted by [the Bank of Korea], completely different figures are indicated, - he noted. - Virtual currencies and blocking are important areas of research. If you neglect them, then, most likely, you will lose this market in the future. "

Based on dictionary, a currency is "a system of money in general use in a particular country."

Bitcoin is a money, and it is used in lots of countries.
Since both of the conditions are met, then Bitcoin could be categorized as currency.
However since there is no authority in charge, and all it used is blockchain technology, then we call it "cryptocurrency"

Conclusion : Yes, bitcoin is a currency

Many people say bitcoin and other crypto currencies are not considered as a currency but it is fake bitcoin will continue to make records and records continuesly so my opinion is bitcoin is a global currency .

I think Bitcoin will not be abolished. Because now, looking at the technology, it is understood that Bitcoins future is bright. Those who talk about Bitcoin's death, they don't know anything about Bitcoin. I don't know what happens after 10-20 years. But Bitcoin's popularity Bitcoin is a coin, which exists online only.

a very interesting discussion to predict the bitcoin travel phase in the future. In the past, our ancestors used the barter system of goods with goods in transactions, then born a system of payment of precious metal transactions with goods and it persisted several phases. After the loss of metal transactions, paper money is born like we do today, and then emerging payment system with virtual currency that almost replace the paper currency, so it is possible that bitcoin will grow in the world. I predict the bitcoin will disappear from the face of the earth and we will return again to the barter system. So in essence, bitcoin is not likely to be lost from circulation.

Not all people think the same on how they will bitcoin, currency or investment. Different people using them with different purposes. Some are taking them as asset and start investing in them. And some legends are there who are continuously using them in payment methods and thus they become currency. So it does not matter hiw people use bitcoin but at least we know bitcoin is very useful.

Seems more like people are holding it like an asset instead of using it as a currency to be honest.

I agree, we all have our own point of view it only depends on each one of us what we're going to believe to. It is hard to tell which is true and not because there are a lot of fake news about bitcoin, trying to bring bitcoin down because bitcoin is a threat for them and seeing bitcoin succeed in all kind of fields is not good for them. Bitcoin is meeting its function to its community it depends on the user how he/she is going to use it.

I would call it a currency since it is accepted as a form of payment by some people. Per wikipedia, currency "refers to money in any form when in actual use or circulation as a medium of exchange". In my opinion Bitcoin fits this definition as well as being the type of currency that is just traded for its economic value.
It may not be a conventional / popular currency or one that is recognized as "stores of value and traded between nations in foreign exchange markets", but that could change in the future.

It should be a currency. But most people view it as an asset and that s the big problem. People are looking to make money with BTC not replace existing currencies.

Bitcoin is the new digitized gold.

Bitcoin is not a currency its like a property which u bought and holding and its growing in price year to year , but its not ready to be a currency in this moment.

There is nothing surprising in this, everyone has the right to their opinion. You do not need to listen to anyone and make a decision based on these comments. Bitcoin has many functions, and it is already accepted as a means of payment, so,  bitcoin - the future.

everybody has their own opinion, and for me bitcoin is a digital currency which of course is different from official currency, we can only use bitcoin online and not all places can accept bitcoin

People have different perspectives when they hear the word bitcoin,  some may think about it as a trash,  some may think that it is worth the investment. We cannot force everyone to believe that bitcoin is really a great venue to start up investing, but the fact that we entrusted our money,  time and effort  well that is something that matters. And for the record bitcoin is a virtual currency that means we could use it as our payment when transacting online,  thus,  it is still a currency.

Bitcoin is not a currency, and many countries issue it, and it isn't considered money. You can not use it to buy items in stores or at grocery stores. It can not be used to pay rent, electricity or water bills. So I think it is not a currency.

Bitcoin is a cryptocurrency, a digital currency. Whatever he meant, it will not influence the existence and the use of bitcoin as a digital currency. Crypto, in this case, becomes one-leading blockchain technology. For people who are aware of the technology and development of era, they will realize the bitcoin. In this case, whatever he said, we should not be influenced by his talks. I'm still here recognize that bitcoin is an advanced digital currency for many people use it for transaction and investment.

Rather, they are right who calls bitcoin a commodity, not a currency. You can buy real estate or product in some countries for bitcoins.