Topic: Do you think Bitcoin matured as a currency? - page 7. (Read 1583 times)

The time of existence still looks young, if the factor of maturity is its volatility then it will still require some more years with lots of regulations that we are expecting. As a cryptoasset it will only preserve fund when you are a smart investors buying at dip, it will also require patience. Every holder still have better potential for wealth than in any other asset for now

This price stability is related to the delayed decisions of SEC and BAKKT and the current market situation.

In such a situation price prediction is not easy. Perhaps next movement can be seen in any way, but we do not know how prediction will result. Waiting seems less risky.

Secondly, the expected decisions compel people to wait, at least they can understand that these decisions can have an impact on the price and extending these decisions each time results in price stability.

I think it will pass a few more years before BTC ETF be approved by SEC or maybe by some other financial institutions in the world. People think that world spins only around USA&SEC, why first BTC ETF would not have been approved in Japan or some other country?

Also essential is type of ETF, physically-backed with real BTC(VanEck SolidX Bitcoin Trust), or just based on BTC futures contracts (ProShares). The first is likely to have a big impact on crypto market, and second is just like futures we have more then a year.

People will always wait next bull market, it is just how many experiencing BTC - just a method to get some profit. And this is working all the time, buy low and sell high, repeat the procedure and get profit. Whoever sold only 1 BTC in December 2017 is made nice profit, and for 20k$ today you can buy 6+ BTC, and wait next bull run which will be over 20k$ for sure.

It's true that bitcoin has shed its speculator skin but I don't agree with the rest of the statement because bitcoin has not yet emerged as a true currency, at least as on date! Speculators still exists within the system and it is impossible to eliminate them all because a speculator is not necessarily thinks about the positive outcome in price, they just speculate and it can be either positive or negative. We are seeing more bearish speculators currently in the market and more numbers of short trade is ongoing.

Now lets get back to the actual question. You asked whether bitcoin has emerged as a true currency or not? My answer is simple, NO not yet! We still can't use bitcoin in our daily expenses, we still can't use bitcoin is any areas of our life (exceptions are there but majorly No!). Even though we can still exchange bitcoin for our local fiat and use that fiat money to cover our expenses but we can't directly use bitcoins. The reason is mostly about the unclear or no policies about cryptos from the governments. There are exceptions but in most of the countries we can't.

The emergence of true currency system is directly linked to this government decision! Unless and until any particular country has a clear and favorable policy about bitcoin and crypto usage, we won't see it becoming a true currency which we can use in our daily life. Even though bitcoin has every quality to become one true currency, the bottleneck is created by the rulers and we as a commoner, can't do much about it! 

Bitcoin as a currency takes time to mature, but we cannot say it is immature. Because if it hasn't got the strength, till date it could've never survived crossing several death attacks. In terms of an evolution from a technology, it is highly matured and has been making big change in the community. More and more mass adoptions were the one that make bitcoin more mature than the present.

Ok, there are a lot of people that simply responded to this thread, based on the title and not on the content. You should take the time to read the content, before you post your garbage.  

The point of this thread is to highlight that Bitcoin is more of a currency now that most of the speculators have left, than what it was during 2017 and 2018, when it was at it's peak.

Let's at least read the content of the thread, before we comment on it. 

I think this is not the right time that we can say bitcoin is mature already to become a currency. Yes it is starting their way to become a currency but it is not enough. Because we can't used it in no internet areas, internet is the life of bitcoin. It is best if we develop first our connection.

Yes you find the right thing .Bitcoin is the best and a popular cryptocurrency in the world . Its still most of the countries are not accepting it so that its so difficult to set up as a currency to any country as it is high volatile .The world using it as a currency for transaction as a real money . We can see something new in the future and we hope that it will be replace as a using of flat money.

maybe bitcoin will be used by traders in various countries, but to make bitcoin become a country's currency is still difficult to realize, the biggest problem with bitcoin is the need for internet networks and things like this are very difficult to prepare a whole government. because of course there are some locations that are still difficult to connect to the internet, such as mountainous areas, so bitcoin will only be an alternative currency, and its use may only be in urban areas.

Matured since 2009 - sure, there have been plenty of amazing advancements.
But it's worse as a currency than it was in 2013 due to the block size limit. No offence to LN proponents, I'm just as excited, but I just wish we could increase it slightly so that all merchants feel safe to adopt it, even without massive LN adoption first. Otherwise we're losing Steam and other big names, which is bad and the opposite of mature.

The fact that some countries haven't legalized the bitcoin,and that is quite a few of them doesn't mean the network hasn't matured,in ten years the bitcoin has managed to spread far and wide and the network growth is immense in just 10 years,yes the network has its downsides such as scalability and volatility,but that doesn't mean or imply the network has not matured,i think if we're talking about maturity we are talking mostly about it's "growth",and you can't deny the growth of the network under just a decade.

as you say, bitcoin is difficult to become legitimate money in every country. because bitcoin is also digital money. even though bitcoin is of high value, the reality is that bitcoin cannot be used legally in every country.

And who said that the price will remain stable like this? Bitcoin will remain a violence currency no matter what and people need to accept it as it is and find ways to adapt to it because there will always be manipulators who will never pass a chance to make a profit, in real life we have regulation to control them and since there is no way to control manipulators in Crypto space violence will never cease to exist it is just a part of the Crypto identity.

Bitcoin is a currency wheter or not is the price volatile, because it is made and designed to be a currency. Of course the volatility does affect people and it isn't really profitable for someone to use it only as a currency. And because Bitcoin is made like this, the price can never be stable, but Bitcoin is already 10 years here and it matured well.

Closer will be to halving more price will rise then we will have next correct i guess
In a case of technology i count for sidechain it looks like sidechain is already very advanced
I don't see bitcoin to be used like a currency i really hope on Bakkt can change it and bitcoin will be more in use like a currency

My answer is a confident NO. Bitcoin is at a very low price these days, we are at the end of a market cycle and trying to start a new one by finding that bottom. We will see a massive surge in price once the bulls are back into the game. I realise that the markets are pretty boring now, but we must get past hard times if we want to have massive success.

I think nothing changed much in the recent few years, Bitcoin's adoption by merchants is growing slowly, Bitcoin's adoption as a donation method has increased a lot, and I'm encountering it in the wild quite often. Volatility has decreased only because of the natural part of the cycle, but it is very likely to soon return when we'll enter a new bull market. So, it will take many more years to truly mature, and the process seems to be slower than most people expected. Some people are betting on Lightning here, but I don't think that it alone is going to fix everything.

I am in a really tough situation right now and i was able to buy a really important piece of hardware to be able to work online using entirely Bitcoins, which would have been impossible by other ethic means in that amount of time and with the other problems here. The place of talking about is Venezuela.

That proves it definitely have potential to be a really good currency as soon as it stabilizes. For now i agree it's better as an investment asset since it's still young and definitely not matured yet. Some years need to pass still until that happen.

IMO, bitcoin is investment tool not currency ( yes, it has advantage as currency )
So they can't be compare because they are different.

Eventhough the government already legalize crypto, doesn't mean it has potential to replace fiat,right

You are wrong about it. Bitcoin went down to $4k for the first time in the end of November, which is the end of Q4 2018. Before that, the price was mainly between $6k and $7k. The almost 2x decrease happened fast and btc is now stuck with the new price barrier. So it hasn't been really stable. Moreover, I think that while stability would be good for bitcoin as money, the price should at least reach something like ATH. Before it happens, people will not feel motivated enough to start using the coin. Remember that many investors lost the hell lot because of the bearish trend that came all of a sudden. Bitcoin has to prove that people who kept holding didn't lose, and then we can talk about maturity.