There are two sources of currency demand: transaction demand and investment demand.
Bitcoin (and other digital currencies) may be able to find a place in countries and financial systems where traditional monetary functions are not well implemented, providing a viable alternative currency.
Topic: How does bitcoin become a currency? - page 13. (Read 2026 times)
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.
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.
I think 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. Bitcoin is payment system.
BITCOIN is a dogital asset design buy its inventor,satoshi nakamoto to work as a currency.
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.
What do you mean by worthless if value is loses?you have said that its inherently used for payments,then why is it you dont believe its currency?considering theres no bitcoin,what will you use for payments?its currency right?so if you use bitcoin to pay it then bitcoin is currency too?dont make this a big issue because as i see youre using bitcoin tp pay your transactions or billings too 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.
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.
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 not considered as a currency before because the value is very low but as the time goes by, the investors are started to get interested into cryptocurrency and that is the reason why bitcoins is very expensive today and most of the people are starting to invest and use just like the credits cards.
Bitcoin is considered as a currency because it has a value and you can use bitcoin as a payment of all your purchase through online and bitcoin can be converted as any currencies in different countries. With this you can consider this as a currency.
As someone saying before it was not considered as a currency? are you serious? because as far as i know since then bitcoin was made as a currency, and have you ever read about the traditional system of market or business? since then trading is one of them, and by any means, an exchange of a service or any goods are traded with something valuable. That is how buying and selling started but as of now it has been modified in addition of currencies.
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.
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 not considered as a currency before because the value is very low but as the time goes by, the investors are started to get interested into cryptocurrency and that is the reason why bitcoins is very expensive today and most of the people are starting to invest and use just like the credits cards.
Bitcoin is considered as a currency because it has a value and you can use bitcoin as a payment of all your purchase through online and bitcoin can be converted as any currencies in different countries. With this you can consider this as a currency.
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.
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 not considered as a currency before because the value is very low but as the time goes by, the investors are started to get interested into cryptocurrency and that is the reason why bitcoins is very expensive today and most of the people are starting to invest and use just like the credits cards.
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.
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 indeed a crypto currency that has the potential to continue to increase and many people want to own it so bitcoin is becoming more popular. Bitcoin is not just a currency, but bitcoin can be a good and profitable investment.
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.
In opinion bitcoin is just an investment. Many stores and shops don't accept bitcoin as a payment because the fact that it's value is never stable and can go down to bits in any time will make it dangerous and can cause loss in economy of the shop. It is an investment for me because you get profit in a span of time which is waiting for the value to inflate and then selling it. Bitcoin will only become a currency once its value is stable and is in a steady state which makes it a currency. 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.
How does? Bitcoin become currency. Because bitcoin you can use it in online transactions like buying items in online shop. And bitcoin is very useful because easy transaction.
So practically bitcoin was used as a means of storing value. Due to the fact that it has become very rare to sell, it continues to increase in price. This is unlikely to be good for bitcoins and for crypto currency in general and so that's it no other than.bitcoin can make money .that's why very nicely.
At this very moment, most of the people who have bitcoins in their wallets are only treating it as an asset and that is because of the reason that the usage of the bitcoin as a money is not that much common because there are not much places which have started accepting bitcoin as mode of payment. However, there are likely chances that bitcoin will also be treated as money in near future.
It first needs to go viral and massively adopted as a new asset class. Once this happens you will be able to spend BTC commercially on virtually everything. One of the companies that is going to help make Crypto mainstream with their Arbitrage exchange is this one, https://bitcointalksearch.org/topic/ann-meet-the-people-making-crypto-mainstream-3085831
In the past old era wich is agricultural era peapole don't using money they just exchanging interest like farmer want to exchange his rice to fish from fisher man
And now industrial era people use money cause they think its valuable
It's only people imagination that one thing is valuable and that's why its getting demands the more it be popular the more it values
Just like bitcoin people accept it like currency and it getting more interested in it
i think bitcoin become currency is because bitcoin has been centralized for years so why we questioned that. that is so obvious. even bitcoin are started in deepweb it doesnt matter cause many of us are helped by bitcoin . im so happy cause i have given a chance to become rich someday. And now industrial era people use money cause they think its valuable
It's only people imagination that one thing is valuable and that's why its getting demands the more it be popular the more it values
Just like bitcoin people accept it like currency and it getting more interested in it
Were you asking a question or merely stating something as fact? I would argue that Bitcoin isn't too different from the past you have described. Satoshis still cost a fraction of a cent, so you could still use Bitcoin for reasonably small payments, especially right now that fees have basically bottomed out. It wasn't as ideal as it was then for micropayments, but is still quite viable. It's perfectly suitable for payments of every other amount too.
I agree that it has to be feasible for payments for it to have value, but some people would probably be content with it just being a store of value.
I agree that it has to be feasible for payments for it to have value, but some people would probably be content with it just being a store of value.
Technically, bitcoin can be regarded as a currency but it has to conform with the requirements needed. In order for something to be a currency, it must be accepted by the government in terms of utilization, its value must be represented or backed up by something (like gold), all countries must embrace and follow its implementation, and it must not be limited.
Due to bitcoins nature being decentralized, some countries do not accept its existence. Its volatile nature also makes its price unstable, thus making it prone to inflation. I believe that bitcoin can be s currency once all countries are able to support and accept its system. But currently, it is something that holds significant value.
We know that bitcoin is digital money or a virtual currency we used bitcoin as a mode of payment through virtually transaction. While the real currency (fiat) is using as a payment also but in real transactions not virtually so difference between bitcoin and real money is on its physical features because. On tje other hand this two types og currency are also the same even bitcoin can we considered a currency because it could for our daily living.
So practically bitcoin was used as a means of storing value. Due to the fact that it has become very rare to sell, it continues to increase in price. This is unlikely to be good for bitcoins and for crypto currency in general and so that's it no other than.bitcoin can make money .that's why very nicely.
At this very moment, most of the people who have bitcoins in their wallets are only treating it as an asset and that is because of the reason that the usage of the bitcoin as a money is not that much common because there are not much places which have started accepting bitcoin as mode of payment. However, there are likely chances that bitcoin will also be treated as money in near future.
We know that bitcoin is a first crypto currency that used a blockchain technology and it has a decentralized sysmtem of servers transaction so it can we used a modern way of payment. Since bitcoin in a virtual currency or digital money it means it has no real in physical we can't touch this because in used only through internet. But bitcoin in have a huge price o value that's why others that accept bitcoin are using this crypto currency for transactions such as any kinds of payment and sometimes bitcoin used to buy good and services. So probably bitcoin ca we considered as a currency.
it's so hard to understand and we don't know who is the real Satoshi nakamoto that create this coin.
It became currency because basically, it's a digital currency that is used to pay for online goods and perhaps for services. Once you already have one, you can change it to fiat and from fiat, you can buy anything you want from goods to services as well.
Currently, bitcoin is also considered a currency that attracts many people who want to own it. The value of bitcoin is calculated in dollars. But it is not considered as the official currency. Because many of the countryside where I live do not know anything about the existence of this currency. It is not used as a daily currency.
Jump to: