Do you think Bitcoin matured as a currency?

deisik

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Quote from: Siren on April 15, 2019, 09:47:53 PM

Bitcoin don’t need to eliminate other countries currency so theres no issue about that,in some other countries that adopted bitcoin they are using fiat in physical payments and bitcoin in online so what we need to have is cryptocurrency to be accepted as payment method in some areas of living

But that's not the problem

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Still it’s not bitcoin is not matured as currency because most of the people using bitcoin as a store of value or long term holding . Most of them including me believing bitcoin price may reach huge by holding some more time because of its limited supply

That is the problem

And it is unlikely to get resolved in the future, if ever. People are not going to use Bitcoin as a payment method en masse simply because it is too good for this purpose. The bad money always drives out the good money from circulation (so-called Gresham's law). And in this case fiat is that bad money, while Bitcoin is the good money. In other words, people would always try to spend fiat first just because they value Bitcoin higher and prefer to keep their precious coins to themselves, while spending dollars (or whatever)

dupee419

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You'll see the progress, through the progress Bitcoin does not only grow it matures as well although the price movement may be compared to as a rollercoaster ride, though if you'd look at how Bitcoin has evolved the crypto has matured also, and it may be obvious that the price went down but that won't be a problem since it may go up at any given time, no one knows when but it will for sure evolve eventually.

goaldigger

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Bitcoin can be considered as a real digital currency now because it is now considered as a matured. For the fact that it is now legal for almost all of the countries worldwide. We just need a little bit more of technology to be used as a terminal for crypto transaction.

XCANA

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Quote from: faceoff97 on March 07, 2019, 06:09:35 PM

We're not there but we're going there, we have seen tremendous changes it was first introduced. There is no denying that it keeps on developing we are seeing how it matured through time. I believe that time will really bring real maturity to it as a currency knowing how the community continuously grow and support all aoect aboutits development. In time, it will be known to be the best established currency.

Definitely yes because "Rome was not built a day" gradually and steady it will get mature and will be use as currency but for now it's be use as a payment method. Bitcoin still developing and we must be patient enough for it to grow to maturity before it can be appreciated as a currency.

Siren

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Quote from: Lumi3004 on January 27, 2019, 02:56:59 AM

Bitcoin is currently in the currency category in the digital, even though you say up, (In 2017/2018 with the sharp increase in the price to the ATH of $18 000+) to be a legitimate currency like one country's banknotes I think it's difficult at the moment. You know all countries already have their own currencies.

Bitcoin don’t need to eliminate other countries currency so theres no issue about that,in some other countries that adopted bitcoin they are using fiat in physical payments and bitcoin in online so what we need to have is cryptocurrency to be accepted as payment method in some areas of living .thats why i hate the thread discussion about crypto replacing fiat when the truth is both can help each others for the benefits of all

demonz666

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I think it will take a long time to make bitcoin a true currency. and in my opinion most of the bitcoin holders prefer to make bitcoin as a trading and investment tool rather than the real currency. because the value of bitcoin I think is unstable can change over time. now the value of bitcoin has increased to $ 5000. and all countries already have their own national currency. they always use fiat money for everyday transactions.

ubay

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I can expressly say YES, because bitcoin has developed very far from the initial launch. And I hope big countries will accept bitcoin as a legal currency or payment tool system.

morrisgonzalez

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I don't think bitcoin still now matured as a currency. Yes bitcoin is really most valuable cryptocurrency in this time, it's the number one cryptocurrency now. Most of the online sites are allow BTC in their sites and now BTC also available in offline transaction. Moreover become currency is not a simple deal to gain, there are some rules and regulations to gain this achievement. I don't think that bitcoin now matured as a currency but I hope that bitcoin will be the currency in the future

lyks15

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I think I already read other topic connected on this (Does bitcoin deserve to be the currency of future). So I can answered it, yes, bitcoin can matured as a currency but it is a long process and it can never replace a fiat money because it is a symbolized a country,it may be an additional currency. And bitcoin need to maintain it's popularity and demand to make it possible.

Fredomago

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Quote from: pushups44 on April 14, 2019, 03:44:33 AM

Bitcoin is certainly maturing, and one sign eventually will be more price stability. At times bitcoin has been among the most stable investments out there, though it still has a tendency to swing wildly on occasion. Also, the recent bear market crash was not as steep as previous ones - if it's over. The layer 2 solution is also being worked on, and every day it survives it proves itself to be yet more indestructible. While the pace is slow, I'd say it's maturing.

It's better to be slow but quietly improving, the market is showing more interest and being used for payment process is also been accept by some
businesses, it's maturing in the sense of people's acceptance not only for such tools of investment but also for being part of their daily life, if this
will continue and more businesses being added we can say that maturity stage already been established.

Janation

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Everyone must have a different opinion, but in my opinion bitcoin is not mature as a currency because its value is volatile and because of that bitcoin is more included as an investment.

It is as volatile cryptocurrency.

It is inevitable for Bitcoin to be an investment, a stock may be for some people since it is a volatile cryptocurrency. Instead of using it as a payment, why not just wait for some time and let it pump so you will be able to earn some profit out of it. It did not mature as a currency but a lot of people hope it does but with the volatility and the anonymity, I don't think it will happen.

pushups44

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Bitcoin is certainly maturing, and one sign eventually will be more price stability. At times bitcoin has been among the most stable investments out there, though it still has a tendency to swing wildly on occasion. Also, the recent bear market crash was not as steep as previous ones - if it's over. The layer 2 solution is also being worked on, and every day it survives it proves itself to be yet more indestructible. While the pace is slow, I'd say it's maturing.

eaLiTy

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Quote from: Kakmakr on January 27, 2019, 02:08:22 AM

Would you say that Bitcoin has shed it's speculator skin and emerged as a true currency, after this correction? I think with most of the speculators left the Bitcoin scene in the last year or so and Bitcoin has truly transformed into a community of people who are more interested in the technology and using the technology as a currency. Huh

As long as there is investment in the bitcoin market you wont be seeing a stable price and that literally means never and with the introduction of future markets the cycle is complete, it is a market like we never saw before with all the possibilities in one and it is a tremendous growth in a short space, now we are waiting for the mass adoption and traders understanding the true potential and it will happen soon and then it will be the true money of the internet.

LimLims

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Quote from: Kakmakr on January 27, 2019, 02:08:22 AM

In 2017/2018 with the sharp increase in the price to the ATH of $18 000+, people were saying that Bitcoin can never be a currency with that kind of fluctuation and volatility in the price.

In the 3rd & 4th quater of 2018 up to Jan 2019, we have experienced a correction from that ATH and we are seeing much less volatility in the price.

Would you say that Bitcoin has shed it's speculator skin and emerged as a true currency, after this correction? I think with most of the speculators left the Bitcoin scene in the last year or so and Bitcoin has truly transformed into a community of people who are more interested in the technology and using the technology as a currency. Huh

Let's discuss, because I am very curious in what you opinions are about this.

It's completely depends upon your own decisions that whether to conclude Bitcoin as a matured currency or not. If we see inside the deeper meaning of what is a "matured" currency, then we can find that it means that the currency can be exchanged with all the currencies present in the world.
So why not to consider it as a Matured currency? Moreover in my opinion Bitcoin is being now accepted in all formats. Some people get their salary in the form of Bitcoins. Now a days we can buy stuff in the online market through Bitcoins also. So I would Fully consider it as a matured currency. Moreover waiting for more updates with the coins.

rdbase

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After 10 years can it be considered as stable and reliable enough to be used as a purposeful currency?
If you compare it to the british pound and the younger united states dollar of the two then no.
But to the newer euro then you could agree to it being so compared to these two.
The blockchain makes it more technological savvy and one of the greatest inventions in the past decade.

Jating

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Quote from: veleten on March 10, 2019, 08:57:45 AM

it certainly did mature , but way far off from being a fiat substitution
although adoption has increased dramatically and the number of bitcoin ATM and places where you can buy things for bitcoin directly grown tenfold compared to the past years
it is not enough to dethrone fiat and VISA /Mastercard sweet duo
mainly because of the slow transactions and extremely low transactions per second number
while bitcoin struggles to get 10 transactions per second , VISA is doing tens of thousands
Lightning network should alleviate this problem to some extent , but will not be able to solve it completely
not in the near future at the very least

Exactly, I guess those who is claiming that bitcoin can replace fiat, it won't really happen and it won't make fiat obsolete as well.

You give one good example here, and it seems that it's going hard for bitcoin to overcome it. Even if you paid the highest fee for one transaction, still you have to wait for several minutes/hours before your transaction can even get 1 confirmations. Maybe LN will be the solution, let's see.

veleten

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it certainly did mature , but way far off from being a fiat substitution
although adoption has increased dramatically and the number of bitcoin ATM and places where you can buy things for bitcoin directly grown tenfold compared to the past years
it is not enough to dethrone fiat and VISA /Mastercard sweet duo
mainly because of the slow transactions and extremely low transactions per second number
while bitcoin struggles to get 10 transactions per second , VISA is doing tens of thousands
Lightning network should alleviate this problem to some extent , but will not be able to solve it completely
not in the near future at the very least

Wexnident

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Quote from: faceoff97 on March 07, 2019, 06:09:35 PM

We're not there but we're going there, we have seen tremendous changes it was first introduced. There is no denying that it keeps on developing we are seeing how it matured through time. I believe that time will really bring real maturity to it as a currency knowing how the community continuously grow and support all aoect aboutits development. In time, it will be known to be the best established currency.

Changes on bitcoin does not necessarily means that it matured a long its way. For being 10 years in the market, bitcoin showed its capability to stand the market challenges however thats not the meaning of maturity. What i think of maturity is a mass adoption over businesses and establishments and it is easily recognize by the people.

Altero

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Quote from: faceoff97 on March 07, 2019, 06:09:35 PM

We're not there but we're going there, we have seen tremendous changes it was first introduced. There is no denying that it keeps on developing we are seeing how it matured through time. I believe that time will really bring real maturity to it as a currency knowing how the community continuously grow and support all aoect aboutits development. In time, it will be known to be the best established currency.

Yeah, it takes time for that and that's so very exciting cause we even don't know when and we are in full of surprises.
Bitcoin is on the grow, it far beyond from its existence if we all committed to support this currency. Though its not the intention to replace fiat but it might be a big competitor by then. We are all looking forward for the best of everybody and this kind of digital currency might fulfilled with it.

faceoff97

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We're not there but we're going there, we have seen tremendous changes it was first introduced. There is no denying that it keeps on developing we are seeing how it matured through time. I believe that time will really bring real maturity to it as a currency knowing how the community continuously grow and support all aoect aboutits development. In time, it will be known to be the best established currency.

Topic: Do you think Bitcoin matured as a currency? (Read 1613 times)