Do you think Bitcoin matured as a currency? - page 3.

zee11225

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Quote from: Webberson on March 04, 2019, 02:46:04 AM

As far as bitcoin is concern, it is not seen by most people as a currency. Regardless, it is still seen to be among the top used currencies in the world. The digital coin may not have matured as a currency due to its volatility, but it can still be regarded as a form of currency.

Officially, bitcoin has not yet become a currency, but in reality it has functioned as a currency in the community that agreed to accept bitcoin as a means of payment.
As long as the government has not declared bitcoin as a currency, it cannot be an official payment tool between governments. But for 10 years after being created Bitcoin has increasingly found its identity, among others, as it is currently correcting prices to a fair nominal. I am sure, more countries will accept bitcoin for next year.

Webberson

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As far as bitcoin is concern, it is not seen by most people as a currency. Regardless, it is still seen to be among the top used currencies in the world. The digital coin may not have matured as a currency due to its volatility, but it can still be regarded as a form of currency.

Vaculin

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Quote from: Bitcoindigger02 on March 04, 2019, 12:58:39 AM

Bitcoin is a real currency, not a quasi-currency.

~snip~

It is and in the future the adoption will grow bigger we can already stand alone.
Now that we are just starting or just in the early stage, we need the banks or payment processor to middle the transaction to make happen
but as the market grow things will eventually change.

The amount we are holding now is going to be massive in the future, so it's not just a currency but as a good investment as well.

Xising

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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.

I would say it does. Over the past few years of its tenure in the currency market, I think that it has added many experiences and movements under its belt that would warrant for it to grow and mature. I know, it hasn't been all that good since Bitcoin has many downs and falls than ups and increases, but then, what I would say is a considerable light at the end of the title is the fact that it still show good movements rather than nothing at all. All that is happening, I think, is something that is bound to happen while the coin is stabilizing.

Dudeperfect

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Even if Bitcoin was introduced 10 years ago, I believe that it is still in the basic phase of development and we must give more time in order to improve it as an innovation that has potential to transform our day to day lives. I agree that we are mostly focusing on speculation activities instead of using it as a payment instrument and it is destroying the core and fundamental principle of the same. However, I am optimistic about the future and I believe that we will see a better picture down the road.

Bitcoindigger02

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Bitcoin is a real currency, not a quasi-currency.

Now there is a saying that Bitcoin is not a currency, but a quasi-currency.

Quasi-currency is a kind of asset that can be converted into currency at any time although it can not be used for circulation directly. It is mainly composed of fixed deposits, savings deposits and various short-term credit circulation instruments. Obviously, Bitcoin does not meet the above definition.

At present, the fact that Bitcoin can not be used for shopping in our country is the result of the prohibition of administrative order, not caused by its own nature. If the restriction of administrative order is not taken into account, Bitcoin can naturally be used for circulation. Therefore, Bitcoin is a genuine currency rather than a quasi-currency.

The Cryptovator

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I don't think, but I believe Bitcoin matured as a currency. It's true there was volatility on end of 2017, but it doesn't prove that Bitcoin is not a matured currency. We can see now, its stable during more than six months. World's forwarding to digitalization and obviously digital crypto-currency is the part of digital revolution. At this point Bitcoin is enough matured in my opinions. Never mind occasional volatility, sometimes it might happen. Once a day Bitcoin will rule on currency world, not only crypto world.

Gaff

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Quote from: MFahad on March 03, 2019, 01:22:33 PM

Quote from: ?? on ??

I think bitcoin still tends to be used as an asset, and to be a payment method I think bitcoin is still having difficulties because it is hit with regulations from the government.

Well i am sorry to say that bitcoin is not matured as a currency and it is being used as an asset for trading. Many people believe that is it is the government which does not want it to be matured as a currency, well i guess No. The main reason is its volatility due to which people do not want to use it as a currency.

Bitcoins needs be stable if it want to become a real usable currency.

It didn't come to a point that it wasn't able to become stable, because people consider bitcoin as an asset and not currency yet. They find it amazing when it comes to an assurance of secure investments, which can be sustainable when value increase in a right time. As it grows a good profit, maturity always come as you wait for the market to have active buy and sell activities. We don't know yet as this asset grows, if there's a huge demand the dream of being a currency could be possible always.

eann014

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Quote from: shesheboy on February 03, 2019, 07:42:06 AM

If bitcoin is really mature then why its value is stuck at a low price point ? Yes 3k or under is low because the ideal price of btc is 6 to 8k .

Other factor on why btc can be consider imature is the adoption . majority of countries / people arent familliar with it .

We can call only it a mature currency if btc will became mainstream .

Quote from: ?? on ??

There is no currency on this earth that is 100% stable and totally devoid of manipulation

Local currency are 100 percent stable ( except usd and other major coin ) . they have a fix value and cannot be manipulated anymore.

We cannot say how much will bitcoin value reach before we can say it is already mature. There is no exact value I think. Cryptocurrencies are also not familiar with all of the people so I don't think it will be one of our main currencies. All fiats are stable not only local coins, but fiats are also our currencies and our currencies depend on what country we are living in.

tunapa

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Stability is one of the major factor that will make bitcoin to be fully matured as a currency. It won’t be okay for a current to keep falling and rising which means people will keep losing at some points and others gaining tab some point. Am sure no one will want to fall into the category of those that will be losing. That’s really going to be a big problem. So I say bitcoin is not yet matured as a currency as it needs some more perfection.

LUCKMCFLY

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From a point of view as a market speculator, Bitcoin has had a life of its own, has experienced the main phases in a market, such as: Accumulation, Bullish Trend, Distribution, Bearish Trend and currently in Accumulation, all these phases have helped to mature the Bitcoin.

The difference with the Stock Market is that the movements occur very slowly, it takes years for the market to show any of the aforementioned phases. If we compare it with the Bitcoin market, this has happened much more quickly, where the analogy can be made. Today many talk about high volatility, but it is a necessary volatility, bitcoin can not be stable, it has no support, it is only managed under supply and demand, it is what makes it a totally deflationary economy, and that makes it difficult to study for many economists.

MFahad

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Quote from: ?? on ??

I think bitcoin still tends to be used as an asset, and to be a payment method I think bitcoin is still having difficulties because it is hit with regulations from the government.

Well i am sorry to say that bitcoin is not matured as a currency and it is being used as an asset for trading. Many people believe that is it is the government which does not want it to be matured as a currency, well i guess No. The main reason is its volatility due to which people do not want to use it as a currency.

Bitcoins needs be stable if it want to become a real usable currency.

proTECH77

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I think bitcoin still tends to be used as an asset, and to be a payment method I think bitcoin is still having difficulties because it is hit with regulations from the government.

Actually the hit from the government to Bitcoin through its regulation process has done some scratch on Bitcoin be use as a currency or as a global currency. But in terms of Bitcoin maturity as a currency, i still have hope that once this hits from the government are over, it will be accepted as a currency.

SiDtHeBeSt

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There is a long long way for bitcoin to be accepted as a matured currency. For a currency to be accepted as a matured currency or as an accepted currency a currency should not be volatile or I should say that the volatility should be very less or even stable. Currently, bitcoin prices are between 3500$-4000$ some people would say it is not that volatile but imagine your country's currency going 500$ up and down.

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Quote from: _Miracle on February 21, 2019, 08:05:46 PM

It has matured it is not mature.

When we are no longer talking about forks, price, miners, where to use it, how to use it and we are just using it: bitcoin as a currency will have matured

If by "we" you mean general public, then I agree with you

But the problem is that there is no "we" as the general public (which you might refer to here) doesn't talk about Bitcoin at all. The general public is simply not very well aware of Bitcoin and what it can be used for. So it is kinda moot point really. If you actually mean us, i.e. folks around here, we are mostly interested in earning dough via Bitcoin in some way (be it speculation, offering services, doing jobs or whatever), but in that case we will always be interested in things like forks, price, miners, etc, i.e. anything which brings profits

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Quote from: Finestream on February 21, 2019, 04:53:01 PM

Quote from: St4yInTh3D4rk on February 21, 2019, 01:12:15 PM

Quote from: Bdstar on February 21, 2019, 12:53:11 PM

Bitcoin has passed a long time in this field. So i believe without showing maturity bitcoin wouldn't stay a long time with so many success. So i definitely feel bitcoin is a mature currency which is using by millions of people.

Maybe it used by millions of people (hopefully) even still not used as currency by even in few hundreds so definitely we are not seeing bitcoin as a currency yet and in the time from of our economy the bitcoin was created very recently just before 10 years.

Lot of people complaining that bitcoin cannot be used as a real currency due to its instable value so the current status of bitcoin will last util the bitcoin settle for some value for years.

Yes.Bitcoin may not be called as a matured currency for now seeing the price is not yet stable because of its high volatility.I think it will only be matured once a mass adoption for bitcoin will take place.For now,bitcoin is more of a profitable investment rather than a matured currency.

Even stability isn't a big concern, the usage scale of bitcoin is the one that decides whether it has matured as a currency or not. Bitcoin usage is very low when the fiat in circulation is calculated, in this way bitcoin requires time to reach a massive user community. This will help bitcoin get matured to be a currency as dollar and other currencies existing in the world.

LUCKMCFLY

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As I have seen the growth of Bitcoin, if I consider it, I am an admirer of technology, but I know very well the business model that bitcoin represents, when I started to see the bitcoin chart, I had no idea what was happening, now represents a whole market, its graph has a structure and volume, altcoin also derive and depend on bitcoin, for this reason is that I think that bitcoin is a mature currency, which may end up having similarity with the behavior of actions.

killat

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Bitcoin is not fully mature as currency, but compared to last years it is much more mature:
- price doesn't fluctuate significantly from a month to another
- adoption rate increased
- it is no longer affected by any news in media

St4yInTh3D4rk

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Quote from: Finestream on February 21, 2019, 04:53:01 PM

Quote from: St4yInTh3D4rk on February 21, 2019, 01:12:15 PM

Quote from: Bdstar on February 21, 2019, 12:53:11 PM

Bitcoin has passed a long time in this field. So i believe without showing maturity bitcoin wouldn't stay a long time with so many success. So i definitely feel bitcoin is a mature currency which is using by millions of people.

Maybe it used by millions of people (hopefully) even still not used as currency by even in few hundreds so definitely we are not seeing bitcoin as a currency yet and in the time from of our economy the bitcoin was created very recently just before 10 years.

Lot of people complaining that bitcoin cannot be used as a real currency due to its instable value so the current status of bitcoin will last util the bitcoin settle for some value for years.

Yes.Bitcoin may not be called as a matured currency for now seeing the price is not yet stable because of its high volatility.I think it will only be matured once a mass adoption for bitcoin will take place.For now,bitcoin is more of a profitable investment rather than a matured currency.

Don't think as an investment too because we need to remember the moans from people who came at Dec 2017 and still regreting their decision about it,the bitcoin may give profits but its not to be considered like a traditional investment,its just investing with a hope so no money have to be invested which is in need for us.

_Miracle

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It has matured it is not mature.

When we are no longer talking about forks, price, miners, where to use it, how to use it and we are just using it: bitcoin as a currency will have matured.

Topic: Do you think Bitcoin matured as a currency? - page 3. (Read 1613 times)