How does bitcoin become a currency? | Bitcointalksearch.org

hicaribou

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Quote from: Panchum on December 03, 2018, 08:23:04 AM

Quote from: zhangxie29152784 on March 25, 2018, 09:21:54 PM

In the beginning, BTC could be used to exchange of low value of virtual items, such as buying web sites or game points, virtual items, etc., afterwards, some people in order to get these virtual items, items may be in online auction own reality for BTC, others want to buy the real goods, but no BTC at hand, and then use real money to exchange BTC, as a result, BTC begin to flow, and have a "value".

In other words, bitcoin is inherently valuable as a means of payment; If it loses its function as a means of payment, it becomes worthless.

The value of money: it exists because of payment.

Bitcoin become currency because bitcoin is now available for any transaction.Its a good currency especially when the price is increase.lt will give us more comfortable for any payments.

There are some place where bitcoin is accepted as a payment option but it does not reach wide enough yet.
I saw steam was accepting bitcoin before and i think it could be a very big opportunity for bitcoin but now its not accepted anymore. Does anyone know why? That is a very unfortunate thing.

Panchum

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Quote from: zhangxie29152784 on March 25, 2018, 09:21:54 PM

In the beginning, BTC could be used to exchange of low value of virtual items, such as buying web sites or game points, virtual items, etc., afterwards, some people in order to get these virtual items, items may be in online auction own reality for BTC, others want to buy the real goods, but no BTC at hand, and then use real money to exchange BTC, as a result, BTC begin to flow, and have a "value".

In other words, bitcoin is inherently valuable as a means of payment; If it loses its function as a means of payment, it becomes worthless.

The value of money: it exists because of payment.

Bitcoin become currency because bitcoin is now available for any transaction.Its a good currency especially when the price is increase.lt will give us more comfortable for any payments.

Zadeket

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Quote from: patarfweefwee on November 27, 2018, 12:46:16 AM

Well it depends. Although you can't buy a service or a product with crypto currency, it is still valuable in a sense that you can exchange it for Fiat that could be exchanged for goods and services. Therefore it would still hold value because it could stil be exchanged into something of worth. Then again, different people percieve worth.

Bitcoin is a transaction that occurs digitally on the internet, so it must be exchanged first in place to exchange bitcoin into fiat money, so that it can be used to buy any goods and services. This happens in a country that prohibits the use of bitcoin for payments. If it occurs in a country that legalizes bitcoin, transactions can occur directly from the transfer of the sender's wallet to the recipient's wallet.

sirminesalot

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Quote from: andriarto on November 27, 2018, 10:13:34 AM

Quote from: SeVenlast on November 27, 2018, 09:56:57 AM

Quote from: abhi777 on November 22, 2018, 10:17:12 AM

Quote from: Ranly123 on November 22, 2018, 04:06:48 AM

Quote from: zhangxie29152784 on March 25, 2018, 09:21:54 PM

In the beginning, BTC could be used to exchange of low value of virtual items, such as buying web sites or game points, virtual items, etc., afterwards, some people in order to get these virtual items, items may be in online auction own reality for BTC, others want to buy the real goods, but no BTC at hand, and then use real money to exchange BTC, as a result, BTC begin to flow, and have a "value".

In other words, bitcoin is inherently valuable as a means of payment; If it loses its function as a means of payment, it becomes worthless.

The value of money: it exists because of payment.

It is indeed exist because it is used for transactions online like betting sites. Now it is also used as the basis for exchanging in different coins that emerged in the market. The value of Bitcoin exist through the continues patronage of people to it's usage.

I think the government must approve it, if the government does not agree with bitcoin and crypto then how can bitcoin become a world currency. and don't spread hoaxes that aren't right about bitcoin.

There are some countries that support big about Bitcoin and some countries really hate the existence of virtual money so it should be very far to illustrate if Bitcoin becomes a true currency.

lucky for those who legalize are developed countries, so many other countries depend on it. i hope that with more developed countries legalizing, hopes will come true

but it's not that easy to legalize bitcoin and make it a country's currency for progress. Bitcoin is a digital currency and if it is used as a currency by a country I think it is impossible even though Bitcoin is illegal in many countries but we can still use it.

andriarto

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Quote from: SeVenlast on November 27, 2018, 09:56:57 AM

Quote from: abhi777 on November 22, 2018, 10:17:12 AM

Quote from: Ranly123 on November 22, 2018, 04:06:48 AM

Quote from: zhangxie29152784 on March 25, 2018, 09:21:54 PM

In the beginning, BTC could be used to exchange of low value of virtual items, such as buying web sites or game points, virtual items, etc., afterwards, some people in order to get these virtual items, items may be in online auction own reality for BTC, others want to buy the real goods, but no BTC at hand, and then use real money to exchange BTC, as a result, BTC begin to flow, and have a "value".

In other words, bitcoin is inherently valuable as a means of payment; If it loses its function as a means of payment, it becomes worthless.

The value of money: it exists because of payment.

It is indeed exist because it is used for transactions online like betting sites. Now it is also used as the basis for exchanging in different coins that emerged in the market. The value of Bitcoin exist through the continues patronage of people to it's usage.

I think the government must approve it, if the government does not agree with bitcoin and crypto then how can bitcoin become a world currency. and don't spread hoaxes that aren't right about bitcoin.

There are some countries that support big about Bitcoin and some countries really hate the existence of virtual money so it should be very far to illustrate if Bitcoin becomes a true currency.

lucky for those who legalize are developed countries, so many other countries depend on it. i hope that with more developed countries legalizing, hopes will come true

SeVenlast

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Quote from: abhi777 on November 22, 2018, 10:17:12 AM

Quote from: Ranly123 on November 22, 2018, 04:06:48 AM

Quote from: zhangxie29152784 on March 25, 2018, 09:21:54 PM

In the beginning, BTC could be used to exchange of low value of virtual items, such as buying web sites or game points, virtual items, etc., afterwards, some people in order to get these virtual items, items may be in online auction own reality for BTC, others want to buy the real goods, but no BTC at hand, and then use real money to exchange BTC, as a result, BTC begin to flow, and have a "value".

In other words, bitcoin is inherently valuable as a means of payment; If it loses its function as a means of payment, it becomes worthless.

The value of money: it exists because of payment.

It is indeed exist because it is used for transactions online like betting sites. Now it is also used as the basis for exchanging in different coins that emerged in the market. The value of Bitcoin exist through the continues patronage of people to it's usage.

I think the government must approve it, if the government does not agree with bitcoin and crypto then how can bitcoin become a world currency. and don't spread hoaxes that aren't right about bitcoin.

There are some countries that support big about Bitcoin and some countries really hate the existence of virtual money so it should be very far to illustrate if Bitcoin becomes a true currency.

Shiversnow

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Quote from: BrentMack on April 17, 2018, 04:32:56 PM

Bitcoin is already a currency, it does not need to become one. You can buy and sell things with bitcoin and that is what a currency is for. Although now I think people use bitcoin as more of an investment than as a currency but that does not mean that bitcoin has stopped being a currency.

Most of people commonly use bitcoin as investment which they know that it will give profit. But, we want to use bitcoin as currency it need to undergo in government which they will implemented it as currency. We all know some government allow bitcoin as currency but somehow we can't say that bitcoin will really become a legal currency.

patarfweefwee

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Well it depends. Although you can't buy a service or a product with crypto currency, it is still valuable in a sense that you can exchange it for Fiat that could be exchanged for goods and services. Therefore it would still hold value because it could stil be exchanged into something of worth. Then again, different people percieve worth.

abhi777

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Quote from: Ranly123 on November 22, 2018, 04:06:48 AM

Quote from: zhangxie29152784 on March 25, 2018, 09:21:54 PM

In the beginning, BTC could be used to exchange of low value of virtual items, such as buying web sites or game points, virtual items, etc., afterwards, some people in order to get these virtual items, items may be in online auction own reality for BTC, others want to buy the real goods, but no BTC at hand, and then use real money to exchange BTC, as a result, BTC begin to flow, and have a "value".

In other words, bitcoin is inherently valuable as a means of payment; If it loses its function as a means of payment, it becomes worthless.

The value of money: it exists because of payment.

It is indeed exist because it is used for transactions online like betting sites. Now it is also used as the basis for exchanging in different coins that emerged in the market. The value of Bitcoin exist through the continues patronage of people to it's usage.

I think the government must approve it, if the government does not agree with bitcoin and crypto then how can bitcoin become a world currency. and don't spread hoaxes that aren't right about bitcoin.

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Quote from: BrentMack on April 17, 2018, 04:32:56 PM

Bitcoin is already a currency, it does not need to become one. You can buy and sell things with bitcoin and that is what a currency is for. Although now I think people use bitcoin as more of an investment than as a currency but that does not mean that bitcoin has stopped being a currency.

I agree. The only thing is is missing is that the legitimacy of bitcoin. The government acceptance is what it needs in order for it to be used all over the world. It really matters but then bitcoin can work even without the government approval and it is very functional, effective and efficient.

serjent05

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Generally they call it crypto-currency but it is also regarded as an asset. A store of value, commodity with value but since you defined currency as a mean of payment and that is why it is called currency, bitcoin qualifies for this title. Bitcoin is used as a mean of payment not in all but there are several stores/market and companies that accept bitcoin as a mean of payment. Recently I’ve just read a post that gave 15 of those.

Lumi3004

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I know that Bitcoin is currently used as a buying and selling transaction, but not as a currency.
Example: like gold sold only makes money.
Bitcoin is also the same as the principle of selling gold and making money, so if Bitcoin is made into a transaction money I think it is rather difficult because all countries have their own currency. if my opinion is correct what I understand from the topic.

Ranly123

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Quote from: zhangxie29152784 on March 25, 2018, 09:21:54 PM

In the beginning, BTC could be used to exchange of low value of virtual items, such as buying web sites or game points, virtual items, etc., afterwards, some people in order to get these virtual items, items may be in online auction own reality for BTC, others want to buy the real goods, but no BTC at hand, and then use real money to exchange BTC, as a result, BTC begin to flow, and have a "value".

In other words, bitcoin is inherently valuable as a means of payment; If it loses its function as a means of payment, it becomes worthless.

The value of money: it exists because of payment.

It is indeed exist because it is used for transactions online like betting sites. Now it is also used as the basis for exchanging in different coins that emerged in the market. The value of Bitcoin exist through the continues patronage of people to it's usage.

zcashplan

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Bitcoin cannot be a currency, it is just a digital currency. In fact, to become a currency, it is still very small now. When the price of Bitcoin exceeds 200,000 US dollars, it may become a currency. But it is very difficult. It may never be possible.

boyz97

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Quote from: DarkIT on November 22, 2018, 01:48:32 AM

Quote from: toast on November 20, 2018, 04:04:13 AM

actually it is not difficult if the state and government legalize or formalize the crypto currency as the applicable currency of course the crypto currency can be like a currency that can do transactions like the prevailing currency

before becoming a currency, I think bitcoin must be accepted in all countries first, and secondly, bitcoin must have a stable value, because I feel that when bitcoin prices are unstable, most people will only view bitcoin as an investment tool, not a currency

if government already regulated bitcoin , i think its price could be stabel.even rise and make new high again.investors confidence and comfortable if bitcoin already regulated.

DarkIT

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Quote from: toast on November 20, 2018, 04:04:13 AM

actually it is not difficult if the state and government legalize or formalize the crypto currency as the applicable currency of course the crypto currency can be like a currency that can do transactions like the prevailing currency

before becoming a currency, I think bitcoin must be accepted in all countries first, and secondly, bitcoin must have a stable value, because I feel that when bitcoin prices are unstable, most people will only view bitcoin as an investment tool, not a currency

Kiweikoo

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Quote from: zhangxie29152784 on March 25, 2018, 09:21:54 PM

In the beginning, BTC could be used to exchange of low value of virtual items, such as buying web sites or game points, virtual items, etc., afterwards, some people in order to get these virtual items, items may be in online auction own reality for BTC, others want to buy the real goods, but no BTC at hand, and then use real money to exchange BTC, as a result, BTC begin to flow, and have a "value".

In other words, bitcoin is inherently valuable as a means of payment; If it loses its function as a means of payment, it becomes worthless.

The value of money: it exists because of payment.

Bitcoin is a virtual currency and it doesn’t belong to any country. A lot of people are confused on whether Bitcoin is a currency, an asset or a collectible. But if you ask me, I will say that Bitcoin is just an asset.

Yes you can also use it as a means of receiving payments but still that doesn’t make it a currency, it remains what it is. Bitcoin is unstable and the one thing people need from a currency is for it to be a stable store of value, and Bitcoin does not offer that, neither does other cryptocurrencies.

toast

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actually it is not difficult if the state and government legalize or formalize the crypto currency as the applicable currency of course the crypto currency can be like a currency that can do transactions like the prevailing currency

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Quote from: Antianara on October 16, 2018, 08:11:46 AM

Bitcoin can't become a currency. Bitcoin is independent and is called cryptocurrency. Monetary is only an intermediary in Bitcoin trading.

If you are talking about the global currency, yes Bitcoin can no doubt become the global currency. It is just not one right now because not every country accepts and uses Bitcoin.

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Quote from: altercreed on October 16, 2018, 01:53:21 AM

Bitcoin is already a currency but is only in binary form. It uses blockchain to make transactions online especially in online payment system. So instead of using fiat currency, bitcoin is the best alternative currency for it.

Yes i agree with this besides bitcoin is already use as a payment form but it is something to be used on decentralized projects also like investing in an ICO projects. Others like in some of the establishments had accepted bitcoin already and had made a successful transaction with it.

Topic: How does bitcoin become a currency? (Read 2026 times)