Topic: How does bitcoin become a currency? - page 3. (Read 2026 times)
bitcoin becomes a currency if it already has the value used for buying and selling transactions and for now in the digital world, if bitcoin has no demand, of course this will turn bitcoin into no value and far from the currency
I can say that bitcoin is currency because it can used in transactions. Not exactly currency but a digital currency, in some country they considered bitcoin as part of their currency because you can transact with others using bitcoin.
Bitcoin is the currency because transactions are the same as currencies. Even bitcoin is easier to use for transactions between countries than currencies in my country. I think sooner or later bitcoin will be increasingly popular and used by many people.
The evolution of bitcoin become know when investors sees the potential of bitcoin as a form of investment. This draw so many people to engage to cryptocurrency as a result many altcoin were created to compete the success of bitcoin. Payment method is rare today, some establishment is do not accept crypto for the exchange of their product because of volatility.
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 considerable as currency because Bitcoin is a flexible crypto which allow everybody to used it as medium of payment and transactions which a lot better than the usual and I think we can consider Bitcoij as currency in such that it acts like one , it has the fundamentals of currency that we have taraditionally like depreciation and fluctuation it just that in crypto it rapidly occur.
Yes of course all currency before started to be a exchange and it started to be a currency because of people who used it as a payment in their online transacrions that would be easy to them to pay anything online. And also they make it as a investments to offer in any company that they wanted to invest with it.
The real purpose I guess why bitcoin has created because of a digital money or a virtual currency, an alternative for our fiat money. But because bitcoin is getting more valuable year after year, the people make bitcoin as an asset and instead of using it for buying goods and payment purposes, most are keeping it in their wallet as an investment waiting to gain more profit before selling it. But to some, they are merely using bitcoin as a digital money for buying and paying reasons.
only through a bank that has been determined for a solid payment even though the current price of gas is high and maybe this is the right time we should not use the things that are not important. 
This needs more time to show that it has a strong community value. Of course, what can become a currency only appears in the future. At present, not yet, because many other reasons are still not resolved.
Bitcoin is already a currency, as they can make completely real transactions, such as buying a house, paying bills, etc.
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.
People can help btc now become their payment and investment. so bitcoin requests must always be in a crypto. from there that makes crypto a digital payment facility. In addition to being easy and simple, crypto also gives a very very small fee. so it is good for small or large nominal payments, and all is done in real time.
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.
It can also exist as a store of value -- kind of like gold. Gold is impossible to use when it comes to buying small items like a pack of gum, but it can be used to make "paper money" that is backed by gold. So, bitcoin can be digital gold that is used to "back" other currencies, even dollars!
only through a bank that will go through the best transfer such as BRI and it is very long to wait for a suitable sale and purchase in the free market nobody will know unless the person who transfers it needs a lot of gas and a good start from the beginners according to the plan .
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 case of Bitcoin, this condition can be measured by the growth of users, sellers, and initial users. Like other currencies, the value of bitcoin comes only from people who want to accept it as a payment instrument.
In my opinion, if bitcoin wants to be money. Bitcoin must develop and all countries in the world must accept bitcoin, especially the government that must accept bitcoin.
Bitcoin is something that holds significant value. It is created by digital and used by digital. It can be convert to any country currency like a real currency. Because of this, using the real currency from the convertion of digital currency to real currency, we can now used it to buy, invest, saved etc. depends on the person who is holding it.
In my opinion in order to become a currency bitcoin needs to get some stability more than it gets right now, because having all those things like in 2017 just imagine how would you react if bread in the store will cost 10 times more than it cost yesterday.
I prefer and agree if bitcoin does not become my currency prefer it as an investment commodity like gold / silver but in digital form, and I think if bitcoin remains an investment commodity it will be very good for economic development in all countries because it will not exist FIAT currency is replaced by bitcoin
You do not understand anything, gold and silver are a form of money and for thousands of years were the dominant form of money through the world, most people have no historic memory but this experiment in which all the currencies of the world are not backed by anything and are just a fiat currency has only existed since the seventies, that is right, this experiment has been live for a very short amount of time and it is already showing signs that it will fail.Bitcoin is no exactly a currency, yes it has a value but the government doesn't accept it as one of the currency, it is a digital money and will soon be accepted by the people in the world, Bitcoin is preparing itself to be a currency some day and when that happens, It will be the users and the holders will have the smile on their ace and says It succeeds.
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 you are right, now a days bitcoins is already considered as a currency but specifically as a digital money since there are online stores like amazon who are accepting cryptocurrency payment method.
Bitcoin is a currency, because it can be readily transferred from one person to another, for something else. But for Bitcoin to become a mainstream currency it needs to be stable and not so volatile. A merchant can't sell you something for $100 worth of Bitcoin and then have that value go down to $70. For it to become a mainstream currency it would probably need to be adopted by a government, backed by them, and that could give it some stability. But what strong government is going to do that, especially when in the beginning is not going to be stable. Will probably see it pump Bitcoin to astronomical levels, only to have it crash hard, hurting the country.
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 agree. It's onset and invention was geared to have an alternative or another option so-to-speak to pay for good and services. Although it has long since evolved into other users such as a means of investments, it can still be considered a currency because it possesses value in order to be used as how money is used at its most basic way. Having said, that characteristic makes it a currency together with its other uses.
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