Topic: How does bitcoin become a currency? - page 14. (Read 2026 times)
Bitcoin was created using Blockchain technology. Bitcoin is used for payments and other transactions and Cryptocurrency is what we call this currency that is used on the internet that uses Blockchain. It becomes a currency because it has a value that other depends on like the US Dollar that has became a basis of other countries for their currencies.
Bitcoin is used as a speculative tool. Therefore, it is useful for exchanges and brokers, as well as for market makers.
It becomes a currency when people are starting to use it for exchange in goods and services. It is also use for trading and is accepted within the economy.
Bitcoin isn't a legal currency for now, and I just heard some news that they're stating that this bitcoin is a whole scam, wherein I dint wanna believe, really. For it has proofs. And so, maybe if people do really recognize the real service or importance of this bitcoin then maybe there has to be change in currency for now.
Not all Countries accept bitcoin as currency. Some people claim that bitcoin is a very dangerous currency. And this is very different from my thinking, I think that bitcoin provides great benefits and brings great changes in the world of economics.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.
Yes, friend you are right bitcoin is already a currency. Because their are some people using bitcoin as their payment in any kind of transaction buying and trading, Especially when it comes to investment,
It is a major flaw in the current use of bitcoins. Currently, everyone is thinking about profit and thus no one thinks about how to sustain it forever as a currency.
Yes, I agree with you, it has to be a popular currency to be valuable. Currently, it is just an investment medium.
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.
Like what most post says, it doesnt have to a currency to succeed. It only has to hold the a certain value. That's basically why it's digital gold. The very reason why people arent using it as much as we'd want to is that it's too volatile. It's risky for both the company and the customers transacting in bitcoin. Plus not all companies are equipped to accept it anyways.
Additionally in terms of inherent value. Its value comes from being a solution to a problem. As long as banks monopolize the financial institutions there will always be a place for bitcoin.
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 otherwise as digital money needs to be legal that means of payment
With the greater extensibility and programmability,bitcoin has the transactions in all forms
Secured and exchange the automation of commercial law and accounting.
The fact that we feel right now is bitcoin is already a currency, this is because almost all the functions of currency can be replaced bitcoin, the thing that is still a lack of bitcoin is not able to be used for transactions directly like cash.
Bitcoin isn't a legal currency for now, and I just heard some news that they're stating that this bitcoin is a whole scam, wherein I dint wanna believe, really. For it has proofs. And so, maybe if people do really recognize the real service or importance of this bitcoin then maybe there has to be change in currency for now.
Not all Countries accept bitcoin as currency. Some people claim that bitcoin is a very dangerous currency. And this is very different from my thinking, I think that bitcoin provides great benefits and brings great changes in the world of economics.
Bitcoin isn't a legal currency for now, and I just heard some news that they're stating that this bitcoin is a whole scam, wherein I dint wanna believe, really. For it has proofs. And so, maybe if people do really recognize the real service or importance of this bitcoin then maybe there has to be change in currency for now.
Bitcoin was developed in 2009 but has gone through many periods of difficulty with virtual currency, many claims that Bitcoin is in the same position today thanks to the investment of significant financial distributors. Bitcoin is one of the fastest growing platforms.
I can say bitcoin at present time is the fastest growing platforms indeed because we have notice many users has known bitcoin widely. Others define bitcoin as currency for some reasons, but time passed it has many usage. But no doubt bitcoin features is good that adopts by many people. 
Not a currency. I do not agree. because kedepanya if more and more users use bitcoin then it can be assured the price rises and this is different nature dengna money that increase and decrease not drastic or fluktuatif.
Bitcoin was developed in 2009 but has gone through many periods of difficulty with virtual currency, many claims that Bitcoin is in the same position today thanks to the investment of significant financial distributors. Bitcoin is one of the fastest growing platforms.
it is true that btc is inherently a means of payment, but for now I think to lose the function as a means of payment is not possible, because so many are using and trying to get it, the possibility of losing that function does exist, but not for the next few years, my opinion on this
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.
Yes, Bitcoin became a currency because it can be used as a medium of exchange. It can be used for making payment to anyone in the world. This is perhaps one of the most important features of Bitcoin. People are ready to accept it as a means of payment because Bitcoin acts as a store of value and also because it is decentralized implying that it completes the transactions without involving any middle men. Currency is basically something which is widely accepted and has a store of value which bitcoin can certainly provide.
Bitcoin is a currency but a digital currency and is popular among both simple and digital currency in other worlds is an outshine currency among all the currencies in the market. For the use of payment system and transactions we use currency and the currency is said to be a currency. Similarly, Bitcoin is a digital crypto currency and is using as payment as well as transaction system by the people all over the world due to its outputs and inputs.
as we feel right now.
there are many new cryptocurrency projects that offer their respective advantages as well as the field of the company, so nowadays it is believed that a growing number of new coins that arrive with their own uses will have an impact on bitcoin purchases. and slowly bitcoin will become a public need as a substitute for money.
there are many new cryptocurrency projects that offer their respective advantages as well as the field of the company, so nowadays it is believed that a growing number of new coins that arrive with their own uses will have an impact on bitcoin purchases. and slowly bitcoin will become a public need as a substitute for money.
Originally bitcoin was conceived for use as a means of payment, as virtual money. Only after bitcoin began to grow very rapidly in price and there was a forecast that it could reach a rate of up to a million dollars, people began to buy and hold bitcoin in the hope that in the future it will have a very high cost and they will have a high profit. 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. It would be better if it was really used as a means of payment and only partially as a repository of value. In the current situation, bitcoin becomes quite risky for investment.
Jump to: