Topic: Do you think Bitcoin matured as a currency? - page 5. (Read 1613 times)
the function and nature of the currency are recognized by all levels of society and all countries recognize the currency as the applicable currency in my opinion the legality that can make crypto currency as the applicable currency
I think there are still a lot of people who are not here because of technology, but because they are waiting for the right moment to speculate. Therefore, I believe that it is too early to talk about bitcoin as a currency and its stability.
And what do you think are people for in fiat money? Some of them treat it as currencies and some are trading on forex. Does it mean it's too early to talk about fiat money in terms of currencies? Don't be silly!
Bitcoin is mature enough to be a currency but it will take a lot of time before people start treating it like one.
I think there are still a lot of people who are not here because of technology, but because they are waiting for the right moment to speculate. Therefore, I believe that it is too early to talk about bitcoin as a currency and its stability.
If the value of fiat money is influenced by various external factors - political events, government actions and stock market speculations, this does not affect the cryptocurrency rate. For example, after the 2016 referendum, the British pound sterling rate fell to 1985, and the election of Donald Trump as US president had a negative effect on stock quotes around the world, but this did not affect the Bitcoin rate - it continued to grow. .
Nevertheless, several times we have already witnessed how the course of Bitcoin, after a long increase, has significantly declined. The course jumps, because the volumes are not too large and an investor with several million dollars can easily shake the stock exchange glass.
Nevertheless, several times we have already witnessed how the course of Bitcoin, after a long increase, has significantly declined. The course jumps, because the volumes are not too large and an investor with several million dollars can easily shake the stock exchange glass.
The more exchange transactions you perform, the greater the loss. For each transaction, exchange offices take a commission, sometimes considerable. In this case, it is not always possible to change the currency at a favorable rate.
There is a good service for tracking the best quotes at the moment - BestChange. I personally always use it when I need to change electronic money for rubles or vice versa. The site not only gives the best rate in real time, but also publishes other important information - currency reserves, ratings of exchangers reliability, user reviews.
There is a good service for tracking the best quotes at the moment - BestChange. I personally always use it when I need to change electronic money for rubles or vice versa. The site not only gives the best rate in real time, but also publishes other important information - currency reserves, ratings of exchangers reliability, user reviews.
I think bitcoin is not yet mature as a currency, bitcoin still needs a long process because nowadays bitcoin is sometimes still experiencing pros and cons. so this is a thing to do for the bitcoin team because bitcoin can't mature into a currency.
Bitcoin is evolving as investment over the years but as currency it still can't be used because of its volatility.With the current situation it can be used as currency in my opinion since the value has less volatility and lies on some range for longer time but lack of people who accept it as currency with the fear of price fall.
The unpredictable fluctuation rate has become a major reason why bitcoin is not considered as a mature currency to replace United states dollar and many other fiat currencies to do real transactions with core business payments so merchants hesitate to combine there businesses with cryptocurrencies to receive or make payments because in moments it can turn into huge losses but with more stability and expansion among users definitely cryptocurrencies will be able to increase there adoption into online businesses in the near future but it might take some time to accept by majority bitcoin as a mature currency
I think bitcoin isn't mature if it's used as a currency, it's because Bitcoin hasn't been so long that we don't know how to fluctuate in the future. Prices that fell very far in a few months ago made us have to rethink to make bitcoin a currency. If this happens again in the future when bitcoin has been used as a currency it will certainly experience hyper inflation and certainly not a good thing. It's too soon to conclude bitcoin as a currency, we better see the development of bitcoin in the next few years. If the price continues to stabilize and develop well, it is time for bitcoin to become a currency. But surely the traders will be disappointed with this because what they hope for is large fluctuations to make a profit.
I think bitcoin is not yet mature as a currency, bitcoin still needs a long process because nowadays bitcoin is sometimes still experiencing pros and cons. so this is a thing to do for the bitcoin team because bitcoin can't mature into a currency.
Exactly it was, we've been too far for its maturity and I may think a 2 decades from now might be possible but we can't even sure what will happen for that time as many changes come along for its journey. And while waiting for that moment, we just be enjoying the time and using cryptos. We shouldn't be rush cause eventually will go for that.if in my opinion bitcoin hasn't matured to become a digital currency globally, bro. because there are still some countries that have not accepted bitcoin as a legitimate currency.
although in some countries bitcoin has been accepted as a legitimate currency like in Japan, jerman
although in some countries bitcoin has been accepted as a legitimate currency like in Japan, jerman
It is great that some countries embraced Bitcoin as such but even though some countries did, some countries banned it. I do respect their reasons but I don't think they should ban it as it is not that dangerous in a country. People would find new ways to pay their bills and online transactions and it is also a good way to invest your time and money.
if in my opinion bitcoin hasn't matured to become a digital currency globally, bro. because there are still some countries that have not accepted bitcoin as a legitimate currency.
although in some countries bitcoin has been accepted as a legitimate currency like in Japan, jerman
although in some countries bitcoin has been accepted as a legitimate currency like in Japan, jerman
Although Bitcoin is used as a currency for the purchase of goods and services in stores like overstock.com, shopify stores, Newegg etc, it has not fully actualized this goal because there are few vendors or merchants ready to accept it because of issues coming from the governments with regards to the unathorization of Bitcoin in certain countries. The attention has shifted to the investment part where users prefer to hold and earn profit when the price rises than to use on a daily basis.
I think it is getting there slowly, because more and more countries are installing ATMS and slowly more meetups are taking place in different countries, educating people about Bitcoin and the Cryptocurrency scene. As more and more young people also come into the workplace and are mobile with cell phones etc, they can easily now download apps that utilize Bitcoin and pay for their stuff they buy online or even offline. It's now becoming more and more famous too, even my 79 year old mother knows what Bitcoin is and every time there is something on the news where Bitcoin is mentioned she always tells me about it lol. I think the next ten years will be really interesting and we will see more progress made I think.
Seems to me that Bitcoin is still a speculative asset. Of course, the number of investors has grown over the year, and speculators may have become a little less, but still there are still a lot of them in Bitcoin. And it seems to me that the speculators are now making money on a bear market helping to move it down. Of course, they are not the cause of so many long falls, but as a rule, speculators play in the direction of the market movement, and now it is bearish. At the cryptocurrency market can be earned easier and faster than the stock market, so many speculators, even with the decreasing liquidity of the cryptocurrency market, choose it.
The whole mess of bitcoin being used as a currency and it's fluctuation is because of the dual nature of bitcoin. BTC needs volatility and fluctuation so that it can be used as an asset and bitcoin should be stable so that it can be used as a currency. At the present time bitcoin is being used as an asset more than a currency. If there comes a solution in future for it to become stable then bitcoin might be more widely adopted.
At the present time I honestly don't think that bitcoin has matured as a currency. It's price has just increased so much over time that people value it more. It has to be developed further in order for it to be used as it was meant to be.
At the present time I honestly don't think that bitcoin has matured as a currency. It's price has just increased so much over time that people value it more. It has to be developed further in order for it to be used as it was meant to be.
I consider Bitcoin is definitely not a currency that has matured, at its height the the transaction costs of moving BTC minors fee was so expensive which has been rectified by consolidation of many transactions into one movement in the transaction of BTC
Things have dramatically changed since then
I guess many of us would be extremely curious to see what would happen now with LN and SegWit in the mainnet if we were to face the same situation. And that would be a decisive answer to your stance that Bitcoin hasn't matured as a currency, though I'm strongly inclined to think that people would just start using LN in earnest to avoid the exorbitant fees we had to pay in 2017
I consider Bitcoins future is just going to be an asset class such as gold. Hopefully in the future the industry will progress whereby other crypto currencies untie from Bitcoin as of now Bitcoin's value determines the value of all other cryptos. This proves we are all in an emerging market 
I do believe that Bitcoin will become an extreme high value asset and untied from alts altogether imagine Bitcoin in 350 years that's where I think Bitcoins use-case will be
I do believe that Bitcoin will become an extreme high value asset and untied from alts altogether imagine Bitcoin in 350 years that's where I think Bitcoins use-case will beI essentially agree with this part as Bitcoin will likely be a "digital gold", i.e. a store of value rather than a means of payment if it is going to succeed big time in the future
I consider Bitcoin is definitely not a currency that has matured, at its height the the transaction costs of moving BTC minors fee was so expensive which has been rectified by consolidation of many transactions into one movement in the transaction of BTC.
The miner fee problem was a year ago and sending Bitcoins to multiple addresses all in one transaction was a feature long ago before the fees became expensive. We don't have to always spend miner fees when using Bitcoin sometimes people transact off chain. If Bitcoin didn't mature as a currency the miner fees should've stayed expensive but it didn't because as time pass by things change now we have the segwit and LN.Hopefully in the future the industry will progress whereby other crypto currencies untie from Bitcoin as of now Bitcoin's value determines the value of all other cryptos.
Most altcoins will always be affected by Bitcoin because they have their own trading pair. 
The challenge with Bitcoin is that, it is such a rapidly changing field that it is almost impossible to have access to good books or adequate materials on the subject.
But still as i have seen there are some places where bitcoin has been used as payment option. So in their aspects bitcoin has become a matured Currency. But when the price will become more stable, we can call it a completely stable and matured currency.
But still as i have seen there are some places where bitcoin has been used as payment option. So in their aspects bitcoin has become a matured Currency. But when the price will become more stable, we can call it a completely stable and matured currency.
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. 
Let's discuss, because I am very curious in what you opinions are about this.
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.
Let's discuss, because I am very curious in what you opinions are about this.
Bitcoin I first see it as a store of value and then as currency. The intensity of both depends on the degree of adoption. The adoption is increasing: every use case of whatever cryptocurrencies indirectly generates bitcoin popularity increase. The number of large companies and even states that promote solutions with blockchain technology is significantly increasing
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 .
Local currency are 100 percent stable ( except usd and other major coin ) . they have a fix value and cannot be manipulated anymore .
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 .
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 .
Jump to: