How bitcoin work as a currency ? - page 2.

mdripon

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Quote from: zaim.mursyidan on March 01, 2018, 12:38:36 PM

Bitcoin isn't attached to a state or government, so itu doesn't have a central issuing authority or regulatory body, bassically, that means there's no organizational deciding when to make more bitcoins, digiring out how many to produce, kering track of where they are, so how does bitcoin work as a currency ?

Bitcoin one kinds of digital currency. this currency used is available maximum country. you can trading, buying, selling by bitcoin. so we can said bitcoin as a good currency in the currency world.

multikript888

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Many users of the concept of crypto currency is equivalent to the word Bitcoin. In part, they are right. However, we need to clarify that Bitcoin is one of the many crypto currency.

Verona25

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Now everyone is arguing whether Bitcoin will be convenient or uncomfortable if the currency is official. I believe that this is more inconvenient.

Fantastic33

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Bitcoin is a digital currency but is not considered as a currency by the bank because they have their own type of money. However, it can still be used as a medium of exchange. There's 21million total bitcoins, and 16.3million were already in the circulation. Unlike money, its supply is only limited, and new bitcoins cannot be produced. It is also speculated that 30% of these coins maybe lost forever due to lost private keys or crashed hard drives.

jamelyn

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Bitcoin works as the root of all digital currencies so whenever it disappears, all blockchain transactions will instantly be terminated and would cause chaos for currency holders which includes, huge companies and countries.

momoro

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Quote from: zaim.mursyidan on March 01, 2018, 12:38:36 PM

Bitcoin isn't attached to a state or government, so itu doesn't have a central issuing authority or regulatory body, bassically, that means there's no organizational deciding when to make more bitcoins, digiring out how many to produce, kering track of where they are, so how does bitcoin work as a currency ?

How bitcoin works

Bitcoin is a digital currency that is not tied to a bank or government and allows its users to shop without revealing their identity. This coin was created by users who "mine" their currency by lending computing power to verify other user transactions. They accept bitcoin in return. These coins can also be bought and sold by swapping US dollars and other currencies .

J Gambler

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Quote from: zaim.mursyidan on March 01, 2018, 12:38:36 PM

Bitcoin isn't attached to a state or government, so itu doesn't have a central issuing authority or regulatory body, bassically, that means there's no organizational deciding when to make more bitcoins, digiring out how many to produce, kering track of where they are, so how does bitcoin work as a currency ?

Bitcoin works as a currency because it has value. In the beginning mining and getting bitcoin was laughed and ridiculed about with it having no value at all. Little to none actually but woth how bitcoin grew then people started realizing that there was some credence and following to it and until its value started going up and with its digital beginnings people were enamored by how instantly and convvenie tly one can have money or it by changing the digital value to a physical one

kirti rana

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Bitcoin is a digital currency, All of these are expensive from this, so I would like to use bitcoin.

Odlanyer

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Bitcoin worked in currency through payment system of an organization, because bitcoins it will help support it to be a currency, you can used bitcoin wallet to store your coins.

RioAnjay

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BitCoin developers create an encrypted database structure named BlockChain. All BitCoin users in the world have copies or copies of this database file on their respective computer devices. BlockChain connects all BitCoin users in the Peer-To-Peer network (Computer to Computer) so there is no special computer or server acting as an intermediary.

LegGekkouga

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Quote from: zaim.mursyidan on March 01, 2018, 12:38:36 PM

Bitcoin isn't attached to a state or government, so itu doesn't have a central issuing authority or regulatory body, bassically, that means there's no organizational deciding when to make more bitcoins, digiring out how many to produce, kering track of where they are, so how does bitcoin work as a currency ?

Firat of all there is no way that anyone can make bitcoins. And there are only 21 million bitcoins in the world. Bitcoin is a platform in the blockchain. Blockchain is like the OS of your pc and Bitcoin is the application. And just like our money, bitcoin has no physical body its all about the "trust" you put into it. Real world money is just a piece of paper, again its all about the "trust".

DarLim11

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Currency is the payment system of an organization, group and government. Basically since lots of people accept bitcoins and can be used to purchase or used as a payment for a service it build a community of people who gives value to bitcoins.
When we started accepting bitcoins it will help support it to be a currency. The value we gave to bitcoins is the very factor why it did become a digital currency.

AoniOn

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bitcoin works as an exchange currency on all crypto exchanges it is just an exchange tool from one currency to another , so I believe that nothing will happen to bitcoin for a long time

Severniti

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It was built to be decentralized. And if there is a demand then it is even easier to make it a currency.
But blockchain is much more. You can be a broker yourself and you can use blockchain for many other purposes.

galkina

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Quote from: zafirawijaya03 on March 02, 2018, 01:49:04 AM

Bitcoin uses a peer-to-peer network without centralized storage, which means it can be transferred anywhere as long as there is an internet network. The currency owned by someone will be stored in an application called Bitcoin Wallet. So, you will not receive money in any physical form other than an application in your gadget

There is not much difference whether you have the money in your wallet or in hand. Money can be transferred back to bank account in few hours and thus it hardly makes any difference,. Though one should keep some extra cash at home for emergency situations like medical help. But I guess, that issue can also be dealt with credit cards.

I prefer to keep about 80% of my savings in the form of bitcoins. I know this is on the higher side but I have to make a lot of online purchases using bitcoins.

derigop

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Bitcoin is use an online currency. Because of bitcoin you can use them to purchase online. It is easier and faster to transac online. You can use bitcoin as trading and some other interesting things that can help you in your future lives.

Janation

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Quote from: zaim.mursyidan on March 01, 2018, 12:38:36 PM

Bitcoin isn't attached to a state or government, so itu doesn't have a central issuing authority or regulatory body, bassically, that means there's no organizational deciding when to make more bitcoins, digiring out how many to produce, kering track of where they are, so how does bitcoin work as a currency ?

Sadly, Bitcoin is not really taken or used as a currency since it is decentralized and volatile. It is popular as an asset, an investment where in you risk or put your money into so you can earn some profit through time. I will consider bitcoin as a currency if the transacting bitcoin is mainly used for payment or buying stuff online, if bitcoin is accepted by the governments of the world and if the price becomes stable.

tats14

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BIG AIRDROP: t.me/otppaychat

because bitcoin is a digital currency and the price of bitcoin is so expensive, bitcoin can work as a currency through investing and trading in it as a paper money.

Coffee135

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Quote from: CCRBNews on March 01, 2018, 12:40:39 PM

The Marshall Islands have just launched thier own crypto currency which makes it a sovereign coin. Main problem I see is that the currency isnt anonymous which I think goes against everything that BitCoin stands for!

http://learnccrb.com/2018/03/sovereign-cryptocurrency-issued-by-marshall-islands/

I do not believe in the success of such projects. Cryptocurrency is not a panacea for bankruptcy. The anonymity of cryptocurrencies allows attracting investments to the country. If not anonymity, then lost all meaning. This will be an attempt to disguise Bank accounts as cryptocurrency. You can't be half pregnant.

west75

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