Bitcoin is still a digital currency | Bitcointalksearch.org

TheUltraElite

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Quote from: ringgo96 on June 13, 2023, 12:05:55 PM

Currently Bitcoin is a very valuable thing that many investors invest in, and Bitcoin is a digital currency that has been legalized by some countries, and has also become legal tender even though this only applies in some countries, but I believe there will be a special protection that will be made by the government because Bitcoin is a very valuable asset for the future, And bitcoin has implemented a high security system.

Government does not care for Bitcoin or it's security. They are rather scared of its popularity and use among users over fiat. Hence don't think they are going to help bitcoin users at all, other than imposing taxation on capital gains. Becoming a legal tender is a huge thing and there has been a lot of problems about that in the countries that allowed so. But this is something that in a long drawn process and may become better in future as governments become lenient.

For now only focus on the current use of Bitcoin, storing it for future selling and not looking at altcoins.

MarjorieZimmermanGinger

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Quote from: Amphenomenon on April 18, 2023, 06:01:58 AM

Most people being introduced into bitcoin sees bitcoin as a means of investment, precisely since 2018. They don't even care of knowing what it is use for, all they care about is that they can make money from it and this flaw has been exploited by the government and now most countries legalising Bitcoin, legalised Bitcoin as an asset instead as an digital currency.

Apart from being used for investment bitcoin can also be used for other things, El Salvador has legalized bitcoin as a legal currency so that it can be used like fiat currency usually in other countries to spend the things you want. There are now many online shops that accept bitcoin payments, although this is not yet very widespread in many countries. There are all kinds of people with their own thoughts when they try to recognize bitcoin, but most people realize that bitcoin has far more advantages than fiat currency.

Bitcoin is private and other people don't need to know how much we have and bitcoin can be a source of self-sufficient investment that doesn't need a third party to back it up. There are many advantages that bitcoin provides as an alternative for people who use it and the initial limitations when bitcoin appeared have turned into a much greater benefit for people to this day.

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Quote from: ringgo96 on June 13, 2023, 12:05:55 PM

Currently Bitcoin is a very valuable thing that many investors invest in, and Bitcoin is a digital currency that has been legalized by some countries, and has also become legal tender even though this only applies in some countries, but I believe there will be a special protection that will be made by the government because Bitcoin is a very valuable asset for the future, And bitcoin has implemented a high security system.

Bitcoin Digital Currency People of all countries know about Bitcoin. But as time goes by, the use of Bitcoin will increase. However, Bitcoin is still not legal in all countries. Bitcoin is still illegal in many countries. But after becoming illegal, many people are using Bitcoin. I heard about this from one of my friends many years ago. I am totally obsessed with Bitcoin. But in my country, the government still allows Bitcoin. Not declared valid. But I hope it will be declared valid in few years. I am waiting to see it.

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Quote from: Agbe on June 13, 2023, 12:17:59 PM

Bitcoin can be used as an asset and also a currency. Bitcoin is an asset in the sense that is something we possess and have value that is why we refer it as an asset . Bitcoin is a currency because it is use to buy things online and also transfer like the real money of a Nation.
These are the two ways bitcoin is used. So you should not confused yourself.

Yes BTC is used for both asset and currency. Bitcoin as an assets is more popular than Bitcoin as a currency. Bitcoin as a currency will be only possible if many countries start dealing through btc and big Platform start accepting it. Bitcoin is till now imagined is fast making profit than real assets. This is the reason people are expecting very big from btc and most of people holding it to become wealthy in future. In most of the countries Btc is not yet legalized but citizens holding it with the Hope that they might be able to buy sell in future.

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Bitcoin has gained considerable popularity as an investment asset, and many people have chosen to invest in it with the expectation of potential upside. Bitcoin's decentralized nature, limited supply, growing interest from institutional investors, and mainstream adoption have all contributed to its investment appeal. The price of Bitcoin has historically experienced significant fluctuations, which presents an opportunity for traders and investors to profit from price movements. Although Bitcoin was originally created as a digital currency, its characteristics as a decentralized and deflationary asset have led to the perception of it as "digital gold" or a store of value. This perception has fueled the investment narrative surrounding Bitcoin. It is essential to realize that Bitcoin's value as an investment comes from its underlying technology, the blockchain, as well as its potential to revolutionize the financial industry and reshape the way transactions are made. The use of bitcoin as a digital currency and its investment potential are not mutually exclusive; they complement each other in the broader ecosystem.

Agbe

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Bitcoin can be used as an asset and also a currency. Bitcoin is an asset in the sense that is something we possess and have value that is why we refer it as an asset . Bitcoin is a currency because it is use to buy things online and also transfer like the real money of a Nation.
These are the two ways bitcoin is used. So you should not confused yourself.

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Currently Bitcoin is a very valuable thing that many investors invest in, and Bitcoin is a digital currency that has been legalized by some countries, and has also become legal tender even though this only applies in some countries, but I believe there will be a special protection that will be made by the government because Bitcoin is a very valuable asset for the future, And bitcoin has implemented a high security system.

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Of course Bitcoin is a digital currency. It is a centralized digital money that uses block technology that works on peer to peer network. It was created in 2009 by Satoshi Nakamoto. Bitcoin records all transaction information through block technology and makes it public which ensures transparency and security. Currently, online shopping through Bitcoin is used for various purposes including investment and remittance. But Bitcoin is the most profitable to invest in as it fluctuates a lot. In the future Bitcoin may take the place of the current USD in international currency exchange.

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Quote from: Vinaa77 on June 13, 2023, 10:59:13 AM

Quote from: fredericktaylor on June 13, 2023, 02:14:46 AM

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Now technology is growing, and of course related to digital names. now some identical work is being done with technology and digitally, it seems that digital currency is really needed for this, and Bitcoin is a decentralized digital currency, and actually they can use it as an alternative transaction or other needs, as well as other things that can done with Bitcoin because he can benefit everyone who has it.

Bitcoin is an alternative payment solution besides fiat payments. The increased adoption has allowed many people to utilize bitcoin to pay for any goods or services as long as both parties agree on a type of payment. Its price volatility also allows anyone who trades and invests to profit, but it also allows them to suffer losses as long as it is not managed properly. So apart from being used as a means of payment, bitcoin is also a profitable asset.

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Thank you for your very well written and detailed explanation of Bitcoin. As Bitcoin has developed as an asset, people think about it in many different ways.As such I always try to hold bitcoins in my fund for the long term. But some people want to convert bitcoin to gold, and some are building houses by converting bitcoin. To me, bitcoin is just an investment way to fulfill my dreams.However Bitcoin is profitable to invest and anyone can use it as a means of payment or as a means of saving money. So people have different positive and negative views towards Bitcoin as some see it as an alternative to digital gold and some also use Bitcoin for gambling.Everyone has the right to use Bitcoin according to their own convenience.

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Quote from: fredericktaylor on June 13, 2023, 02:14:46 AM

Bitcoin is a digital online currency. The main reason for Bitcoin's worldwide popularity is its price volatility. Bitcoin is often referred to as a cryptocurrency because it uses cryptographic techniques to secure transactions and create new units. Traders are investing in Bitcoin as a digital currency and reaping long-awaited profits.

Now technology is growing, and of course related to digital names. now some identical work is being done with technology and digitally, it seems that digital currency is really needed for this, and Bitcoin is a decentralized digital currency, and actually they can use it as an alternative transaction or other needs, as well as other things that can done with Bitcoin because he can benefit everyone who has it.

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Quote from: Gallar on June 13, 2023, 09:55:32 AM

I don't think you know about the country of el Salvador which is currently successfully adopting bitcoin as a legal tender in the country. So with this fact it can be concluded that your argument is not quite right. So it's best before you make a post related to bitcoin, you have to look for complete references in the article you are writing, so that your post doesn't have any obvious mistakes. Because you mentioned several countries only legalize bitcoin as an investment asset. In my personal opinion, making bitcoin as an investment asset is also not something bad, because it mostly has a positive impact on investors. So it's not wrong to make bitcoin an investment asset, because basically even if it is used as an investment asset, it can still be used as a means of payment if needed.
, because with opinions like that among bitcoin enthusiasts, it definitely indirectly makes bitcoin a more multi-use asset.

It workout for El Salvador But that doesn't mean it is the right way because it makes it possible for government to get task from it and this was not was stated by Satoshi in the Whitepaper.

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Quote from: Amphenomenon on April 18, 2023, 06:01:58 AM

now most countries legalising Bitcoin, legalised Bitcoin as an asset instead as an digital currency.

I don't think you know about the country of el Salvador which is currently successfully adopting bitcoin as a legal tender in the country. So with this fact it can be concluded that your argument is not quite right. So it's best before you make a post related to bitcoin, you have to look for complete references in the article you are writing, so that your post doesn't have any obvious mistakes. Because you mentioned several countries only legalize bitcoin as an investment asset. In my personal opinion, making bitcoin as an investment asset is also not something bad, because it mostly has a positive impact on investors. So it's not wrong to make bitcoin an investment asset, because basically even if it is used as an investment asset, it can still be used as a means of payment if needed.

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I know people have various view of Bitcoin as some view it as an alternative to digital gold so they see it as a means of investment , some sees it as something that gives them total control of their money while they are other views but this is the most common aside from what it was created.
Though, they have a solid reason to justify their claims but in the end this is not the main reason or use for Bitcoin. It is just a part feature that bitcoin offer as a digital currency.

Having an opinion like that about bitcoin in my opinion is a pretty good thing, because with opinions like that among bitcoin enthusiasts, it definitely indirectly makes bitcoin a more multi-use asset.

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Quote from: Z390 on June 13, 2023, 05:25:12 AM

Quote from: Obito on April 18, 2023, 06:53:40 AM

What if I own a silver dollar? Technically, it's still a currency but most people see it as an asset. I get your point OP but is the distinction really important? You worry too much what the government can do, it's not like they have full control, unless you consented control of your bitcoins to them.

You are very right Obito, but you mentioned that most people sees Bitcoin as an asset, don't you? I don't believe that most people just see Bitcoin as an asset, I believe Bitcoin positioned itself more like an asset, because the Volatility is obviously creating buying opportunities for the future Bitcoin investors, even an unborn baby will have his chances with Bitcoin because of volatility, what we don't want to do is buying high and selling low, it should be the other way around.

If you can buy low and sell high, that makes it an asset because you need to hold for long term for the selling time to ripe, you holding and keeping it makes it an asset, it adds value in time, to me Bitcoin is more of an asset than digital currency.

for beginners it is undeniable that by buying bitcoin we will get more profit from the price volatility that occurs, therefore it is not surprising that more and more people are joining to put their money in bitcoin investment. after they enter, you must be patient to wait for the profits to come. that is what is more popular than bitcoin than its use as a digital currency, just enjoy the benefits and dare to take opportunities to invest, and the rest if regulations have been established then we are already in the line of changing times

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Quote from: Obito on April 18, 2023, 06:53:40 AM

What if I own a silver dollar? Technically, it's still a currency but most people see it as an asset. I get your point OP but is the distinction really important? You worry too much what the government can do, it's not like they have full control, unless you consented control of your bitcoins to them.

You are very right Obito, but you mentioned that most people sees Bitcoin as an asset, don't you? I don't believe that most people just see Bitcoin as an asset, I believe Bitcoin positioned itself more like an asset, because the Volatility is obviously creating buying opportunities for the future Bitcoin investors, even an unborn baby will have his chances with Bitcoin because of volatility, what we don't want to do is buying high and selling low, it should be the other way around.

If you can buy low and sell high, that makes it an asset because you need to hold for long term for the selling time to ripe, you holding and keeping it makes it an asset, it adds value in time, to me Bitcoin is more of an asset than digital currency.

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Bitcoin is a digital online currency. The main reason for Bitcoin's worldwide popularity is its price volatility. Bitcoin is often referred to as a cryptocurrency because it uses cryptographic techniques to secure transactions and create new units. Traders are investing in Bitcoin as a digital currency and reaping long-awaited profits.

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Quote from: Plaguedeath on April 18, 2023, 06:18:26 AM

Actually Bitcoin stored in centralized exchange and banks are same, you're don't have full control over your money.

There's no big difference between a centralized exchange and banks actually, only that with your money in centralized exchange you are able to use it to trade at any point in time, you can choose to use it all and you don't need to go through so much paperwork before been allowed to do so unlike with the traditional banks. We can ascribe centralized exchange to be the banks of the 21stC cause just like the traditional banks they also do work with KYC only that they're are mostly crypto focused. Even though they help facilitate the easy use of bitcoin for various purposes it still doesn't sound wise to keep your asset lying in CEX as it's not just safe.

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Quote from: Amphenomenon on April 18, 2023, 06:01:58 AM

Most people being introduced into bitcoin sees bitcoin as a means of investment, precisely since 2018. They don't even care of knowing what it is use for, all they care about is that they can make money from it and this flaw has been exploited by the government and now most countries legalising Bitcoin, legalised Bitcoin as an asset instead as an digital currency.

I was once among these set of people who just sees Bitcoin as a means of investment not until I joined this Forum, where I saw a reason to read the Bitcoin Whitepaper and did research about how it helps in the field which it was created for.
Bitcoin as digital currency was created to make online payments to be sent from one party to another without the need of an intermediary.

The problem with BTC and other cryptocurrencies is that nearly none of the business initiatives accept payments directly in crypto. In this case, exchange is needed, and exchange hubs are controlled by fiat banks and the world's richest tycoons. Without these things all the cryptocurrencies will become nothing just in a second. That's the way cryptotrade is controlled by fiat-backed structures.

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Bitcoin is digital currency and it have influence over the nations which many people have queue up for it's technology. Bitcoin is a digital currency that is perfectly work online as a means of payment and also trading and investment as it applies, Bitcoin is an asset which has more opportunities to invest now, for a future usage, a user must prove.
And bitcoin is made to for transfer money in internet.the digital currency was intended to provide an alternative payment system. Bitcoin is going to be a continuous process of digital currency.

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Quote from: dlightag on April 20, 2023, 12:36:17 PM

Bitcoin is a digital currency that is perfectly work online as a means of payment and also trading and investment as it applies, Bitcoin is an asset which has more opportunities to invest now, for a future usage. In other words Bitcoin is gradually growing or spreading across the globe as time goes on and more people are entry Bitcoin business in one way to another, which is one of the easier and educative online business to some have to do as a part time or full time job and get rewards.

But surprisingly due to being optimistic of its existence on where there are people who do even believe that it would be able to replace fiat soon which is something that it is really that too much
of a claim. Bitcoin is really a digital currency and it was really made off that way on the first place, it did really just happen that it turns out that it do functions that we ll which is something that
could go in par with the current fiat but i couldnt really see any reason or possibility that it would be replacing the traditional things. Its better to appreciate on what it does and what
are the things that it benefits out.

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