Topic: Bitcoin must come back to its original use - currency ! - page 11. (Read 1844 times)
I think that isn't the only part of bitcoins original use , the decentralization and ability to have control over your own money are also part of that. The only thing left right now is the control over your own money part. Decentralization is a joke and bitcoin became unusable as a currency. And tbh i don't even see how bitcoin would go back to that point.
In reality the value of a centralized currency represent the country or state's on the economic status and its participation for global trade. Bitcoin as a decentralized currency where no governing body tries to control its price stabilty to represent its real value, supply and demand is the only indication of it real value where volatility is the downside if it is going to be used as a real currency. As long as bitcoin is freely decentralized there is no real value after all.
Yes, Bitcoin is a payment system in its core and we should treat it in that way in the first place. I am not against earning money from speculation activities but that should not be the primary aim of a user. I try to spend my 50% of the Bitcoins and hodl/invest rest 50% of the funds but I don't have even a single merchant in my city accepting Bitcoins against goods and services so there is no utility value for my Bitcoins unless converted into the fiat currency. However, I am optimistic that we will have a crypto friendly market environment in the coming years in most of the countries and the number of people using it as a payment system would drastically increase.
For me - bitcoin is more than the currency. It is bank system, data storage and great example of the hitech which does not get old after 9 years of launch! Using BTC as a currency is a waste of potential...
As the title says I am pretty sure most of us who understands "what is the actual use of the bitcoin will know what it says"
Bitcoin :
Mint Symbol : BTC
Value : Avg. 10K USD/BTC
Form : Virtual
Use : Currency
This should have been the actual thing after the Satoshi's dream to release the coin like BTC in the market. The bitcoin was supposed to be used as currency to buy and sell things the same way we do with our dollar.
The first use of BTC was done when the guy bought pizza for 10K BTC. That was the thing which should have been continued today also. No matter what how much you pay for pizza in those early days, it could have been few satoshi's today but it could have worked just fine.
The status of the BTC has now turned to commodity. The commodity which is being traded globally for the own profit and to run the different industries. This is getting ridiculous day by day as replica of it coming out of the forks.
This Should have been the Future:
Bitcoin is ebbing used as currency in 2009-2010. Government see that its popularity is growing day by day and it could be of could use in the financial sectors, lets implement the blockchain in our banks!
Bitcoin earns the legal status
Bitcoin gets widespread across the globe and rest of the country follow the same and thus the nationwide legal status turns into the global legal tender!
People start using the BTC for trading daily life needs with help of bitcoin.
There are no creation of million BTC addresses daily but the only one unique address per head per bank account!
No exchangers are being created but only handy smart phone apps and PC wallets to store the coins linked with bank chain.
Bitcoin smoothly shifts in the market capitalism and keeps going upwards slowly but steadily. The value rises and it gets cheaper to use for daily needs.
Global financial advisor think about minted coins to be formed physically with unique barcodes printed on them.
First appearance of the BTC in the global market!
Yes, that seems to me perfect. This is what bitcoin could have followed but greedy human changed its history by using it for their own benefit as commodity.
Bitcoin :
Mint Symbol : BTC
Value : Avg. 10K USD/BTC
Form : Virtual
Use : Currency
This should have been the actual thing after the Satoshi's dream to release the coin like BTC in the market. The bitcoin was supposed to be used as currency to buy and sell things the same way we do with our dollar.
The first use of BTC was done when the guy bought pizza for 10K BTC. That was the thing which should have been continued today also. No matter what how much you pay for pizza in those early days, it could have been few satoshi's today but it could have worked just fine.
The status of the BTC has now turned to commodity. The commodity which is being traded globally for the own profit and to run the different industries. This is getting ridiculous day by day as replica of it coming out of the forks.
This Should have been the Future:
Bitcoin is ebbing used as currency in 2009-2010. Government see that its popularity is growing day by day and it could be of could use in the financial sectors, lets implement the blockchain in our banks!
Bitcoin earns the legal status
Bitcoin gets widespread across the globe and rest of the country follow the same and thus the nationwide legal status turns into the global legal tender!
People start using the BTC for trading daily life needs with help of bitcoin.
There are no creation of million BTC addresses daily but the only one unique address per head per bank account!
No exchangers are being created but only handy smart phone apps and PC wallets to store the coins linked with bank chain.
Bitcoin smoothly shifts in the market capitalism and keeps going upwards slowly but steadily. The value rises and it gets cheaper to use for daily needs.
Global financial advisor think about minted coins to be formed physically with unique barcodes printed on them.
First appearance of the BTC in the global market!
Yes, that seems to me perfect. This is what bitcoin could have followed but greedy human changed its history by using it for their own benefit as commodity.
This is what I also think. Bitcoin is supposed to be used as a currency and not as a commodity. It is also the reason for its volatility because whales and pump and dump groups are also controlling its direction. But if it is accessible by many people and is being used as a currency to buy and sell necessities then the masses will have more control over Bitcoin like any other fiat currency and its price will stabilize. I just wish that within the next decade the direction of Bitcoin will shift from being a commodity to a currency.
As far I know, bitcoin invented for replacing fiat money that controlled by central bank. Thats why bitcoin have limited supply and using blockchain technology so everyone can see the ledger with more transparant. But many government ban bitcoin for payment and right now bitcoin is like investment instrument and looks like gold in digital world
I agree that bitcoin should return to its original designation - as a means of payment for the acquisition of daily purchases, as it was and was conceived during the creation. Now there are a lot of conversations and various speculations about its value storage function, although we can not say with certainty which bitcoin rate will be in a few years. Therefore, these conversations are worthless. The main thing is how you can use bitcoin at the moment.
It will but it is too early for us to be asking for that. The only time it did was when it was still very much early and people really saw the main value for it as it is, and then the whole thing with speculation started and we started getting to see a lot of people getting greedy which ended up making it a speculative asset, and the only time we will get to see this happening where we have bitcoin as a currency fully is when it has really reached a stage of no return and the market capitalization is extremely huge, that would be hard to see any huge manipulation. 
We don't know exactly and how long it will take to reach its original value but there are many factors to be considered. Surely one day Bitcoin will hit back to its original value where it was before, but the market cap should increase.
It is not really about the value I am talking about but about its real use as the title also says the same.
However, this is also good thought that we will surely get to original value or something more stable than what we are experiencing right now. I just wanted to see that bitcoin be the currency and it should have been in other dimension by now. I mean all the banking needs being shared with the crypto currencies and vice versa. Gotta say that would have the different world really.
We are in the pre growth phase as far as I am concerned, and you really would not expect everyone to just see bitcoin as a currency when indeed a lot of people are busy looking for ways to get rich which is why we have weak hands in the market and until when we have a cap with those who believe in the real value making use of it, then there is no way we would not keep having that.
it wont happen. limited bitcoin quantity make it not feasible as a currency. how you gonna distribute to over 7billion people and growing population? infinite economy needs infinite currency to work. bitcoin is not one of it.
But dont worry, this year gonna be exciting year as we see many new ICO mainly use as currency.
But dont worry, this year gonna be exciting year as we see many new ICO mainly use as currency.
We don't know exactly and how long it will take to reach its original value but there are many factors to be considered. Surely one day Bitcoin will hit back to its original value where it was before, but the market cap should increase.
It is not really about the value I am talking about but about its real use as the title also says the same.
However, this is also good thought that we will surely get to original value or something more stable than what we are experiencing right now. I just wanted to see that bitcoin be the currency and it should have been in other dimension by now. I mean all the banking needs being shared with the crypto currencies and vice versa. Gotta say that would have the different world really.
We don't know exactly and how long it will take to reach its original value but there are many factors to be considered. Surely one day Bitcoin will hit back to its original value where it was before, but the market cap should increase.
Without any doubt,it is a currency.Used as a medium of exchanges for goods and services, currency is the basis of trade.Although it's running in the currency system,but is present it's being considered as an asset.
bitcoint is cryptocurrency, what's the argument in that? Fiat is being used as investment as what people also do with bitcoin. But unlike fiat, bitcoin have limited value as we all know (21M) thus making the price go high because of the demand vs the supply. I know people using btc as payment as well as investment, how about you? do you pay using bitcoin and/or altcoin? if not then what's the point of argument?
Also, 1address 1person? what's the point of decentralization and egalitarian ? where's the freedom on that?
Bitcoin legal? not anytime soon, but there are some country you can freely use bitcoins but for some, we need to fight tooth and nail to show the world this is the real future.
There's a lot of argument going on around bitcoin but it is what it is. We can't change it's value now we can't make it die unless Satoshi immaculately appear which I doubt will happen since feds and irs after him but for now we can just enjoy what we have or leave it alone
Also, 1address 1person? what's the point of decentralization and egalitarian ? where's the freedom on that?
Bitcoin legal? not anytime soon, but there are some country you can freely use bitcoins but for some, we need to fight tooth and nail to show the world this is the real future.
There's a lot of argument going on around bitcoin but it is what it is. We can't change it's value now we can't make it die unless Satoshi immaculately appear which I doubt will happen since feds and irs after him but for now we can just enjoy what we have or leave it alone
As the title says I am pretty sure most of us who understands "what is the actual use of the bitcoin will know what it says"
Bitcoin :
Mint Symbol : BTC
Value : Avg. 10K USD/BTC
Form : Virtual
Use : Currency
This should have been the actual thing after the Satoshi's dream to release the coin like BTC in the market. The bitcoin was supposed to be used as currency to buy and sell things the same way we do with our dollar.
The first use of BTC was done when the guy bought pizza for 10K BTC. That was the thing which should have been continued today also. No matter what how much you pay for pizza in those early days, it could have been few satoshi's today but it could have worked just fine.
The status of the BTC has now turned to commodity. The commodity which is being traded globally for the own profit and to run the different industries. This is getting ridiculous day by day as replica of it coming out of the forks.
This Should have been the Future:
Bitcoin is ebbing used as currency in 2009-2010. Government see that its popularity is growing day by day and it could be of could use in the financial sectors, lets implement the blockchain in our banks!
Bitcoin earns the legal status
Bitcoin gets widespread across the globe and rest of the country follow the same and thus the nationwide legal status turns into the global legal tender!
People start using the BTC for trading daily life needs with help of bitcoin.
There are no creation of million BTC addresses daily but the only one unique address per head per bank account!
No exchangers are being created but only handy smart phone apps and PC wallets to store the coins linked with bank chain.
Bitcoin smoothly shifts in the market capitalism and keeps going upwards slowly but steadily. The value rises and it gets cheaper to use for daily needs.
Global financial advisor think about minted coins to be formed physically with unique barcodes printed on them.
First appearance of the BTC in the global market!
Yes, that seems to me perfect. This is what bitcoin could have followed but greedy human changed its history by using it for their own benefit as commodity.
But there's a problem. Bitcoin is not yet legal to most of the countries and as such only few people will be able to use it as a currench to buy things for their daily living and those who are located to countries where it is not yet legal,they have no choice but to make use of its volstility in the market which is thorugh investment. Bitcoin :
Mint Symbol : BTC
Value : Avg. 10K USD/BTC
Form : Virtual
Use : Currency
This should have been the actual thing after the Satoshi's dream to release the coin like BTC in the market. The bitcoin was supposed to be used as currency to buy and sell things the same way we do with our dollar.
The first use of BTC was done when the guy bought pizza for 10K BTC. That was the thing which should have been continued today also. No matter what how much you pay for pizza in those early days, it could have been few satoshi's today but it could have worked just fine.
The status of the BTC has now turned to commodity. The commodity which is being traded globally for the own profit and to run the different industries. This is getting ridiculous day by day as replica of it coming out of the forks.
This Should have been the Future:
Bitcoin is ebbing used as currency in 2009-2010. Government see that its popularity is growing day by day and it could be of could use in the financial sectors, lets implement the blockchain in our banks!
Bitcoin earns the legal status
Bitcoin gets widespread across the globe and rest of the country follow the same and thus the nationwide legal status turns into the global legal tender!
People start using the BTC for trading daily life needs with help of bitcoin.
There are no creation of million BTC addresses daily but the only one unique address per head per bank account!
No exchangers are being created but only handy smart phone apps and PC wallets to store the coins linked with bank chain.
Bitcoin smoothly shifts in the market capitalism and keeps going upwards slowly but steadily. The value rises and it gets cheaper to use for daily needs.
Global financial advisor think about minted coins to be formed physically with unique barcodes printed on them.
First appearance of the BTC in the global market!
Yes, that seems to me perfect. This is what bitcoin could have followed but greedy human changed its history by using it for their own benefit as commodity.
I agree that bitcoin should return to its original designation - as a means of payment for the acquisition of daily purchases, as it was and was conceived during the creation. Now there are a lot of conversations and various speculations about its value storage function, although we can not say with certainty which bitcoin rate will be in a few years. Therefore, these conversations are worthless. The main thing is how you can use bitcoin at the moment.
Bitcoin has become an asset rather than a currency. People are looking at bitcoin as a way of earning money like stocks. The volatility of bitcoin has been taken advantaged. But despite the rise in price because of mere greed bitcoin took a big fall. I think the way people look at bitcoin now, we cant change that anymore. Despite the fall people are still investing in bitcoi. Simply because they wanted more. So making it a currency would mean using it but instead people are just storing and holding their bitcoins.
I agree with this. At first people were actually using bitcoin for all its intents and purposes which was as a currency but then the value of bitcoin began to increase which means that prices started to increase and people started to notice that bitcoin will do good as an asset and they started using and treating it as such which will make bitcoin resorting back to its original use as a currency very hard and the volatility of bitcoin does not help matters either. 
Bitcoin has become an asset rather than a currency. People are looking at bitcoin as a way of earning money like stocks. The volatility of bitcoin has been taken advantaged. But despite the rise in price because of mere greed bitcoin took a big fall. I think the way people look at bitcoin now, we cant change that anymore. Despite the fall people are still investing in bitcoi. Simply because they wanted more. So making it a currency would mean using it but instead people are just storing and holding their bitcoins.
I agree with you. Also if Bitcoin will start to be used as a currency (I really look forward to lightening network technology), instead as only a store of value, its price volatility will decrease dramatically.
Aside from being a currency, what are its purposes?
1. Income sources
2. Asset
3. Storage
4. Support gambling
But the root of these purposes is that bitcoin is a currency. The OP made it more complicated. The people will choose for his or her own purpose of bitcoin. We can say it is an income source but the essence of bitcoin is still there. That is to transact and transfer in a peer to peer network.
1. Income sources
2. Asset
3. Storage
4. Support gambling
But the root of these purposes is that bitcoin is a currency. The OP made it more complicated. The people will choose for his or her own purpose of bitcoin. We can say it is an income source but the essence of bitcoin is still there. That is to transact and transfer in a peer to peer network.
Well it was meant to be a currency but has never been used as such since people are looking at it's potential to make money. And with btc's high vilatility rate, it's going to be very difficult to have it that way for now. Probably not until btc has reached it's peak or the last satoshi has been mined.
Bitcoin cannot now be used as a currency. Miners and the rest of the bitcoin community have different interests. This can cause a great deal of conflict. Now I do not see the prerequisites for the problems of transactions to be solved. Maybe bitcoin will never become a currency? It will be an asset for saving and moving our savings outside the banking system.
Jump to: