Topic: How does bitcoin become a currency? - page 6. (Read 2059 times)
people say bitcoin as currency because bitcoin is the currency in digital and we can use it to buy something and have value so bitcoin can be said as digital currency
for now as far as I can see it is used rather as an asset. To become a currency the most important thing first of all is the price stability, with those volatile prices the usage as a form of payment is very hard.
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.
In my own opinion, bitcoins is just an asset before and as the time goes by there are more people who become interested on cryptocurrency and now it was recognized as a currency because there are online stores who are accepting a crypto payment method.
Well, I consider Bitcoin will become currency in time i used bitcoin to online payment and other online transactions. We can also convert bitcoin to a currency of our country. Therefore, bitcoin can be currency but it is indirect not like the transaction we used in our current currency.
Of course in the beginning it is used to buy online product and its value was low but at present it is the most valuable currency on the whole world. Nowadays it is used for online payment, paying the online bills and buy different software, games, webdesigns and websites. It has become so popular that people are using it instead of money and it is called a digital currency.
Initially, bitcoin was not so popular and its value was insignificant but it was treated as a currency to buy online stuff and services. Over the years, bitcoin has gained more trust and popularity and the price of bitcoin has gone from nearly nothing to thousands of dollars' worth nowadays and people have started to use it as an investment rather than a currency. It is still used for online transactions but it seem to be that people are more interested in the profit they could earned from bitcoin investment than in its advantages in online shopping.
Of course in the beginning it is used to buy online product and its value was low but at present it is the most valuable currency on the whole world. Nowadays it is used for online payment, paying the online bills and buy different software, games, webdesigns and websites. It has become so popular that people are using it instead of money and it is called a digital 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 in my opinion is not as currency but bitcoin is more as a promising investment than gold, besides bitcoin can also be converted to local currency. and after that bitcoin can be used for transactions to buy our needs. So my conclusion is bitcoin can be labeled as currency but indirectly
Well in my own opinion how does bitcoin become currency. Its digital money in a way sometimes bitcoin use in online payments to make the transaction easier and so We can call bitcoin become currency.
Currency in the history is to be believe anything that people can use to pay in exchange with service and goods as what Bitcoin can do today.. So it is consider to be a currency between users.
The real value of a currency is found in its purchasing power. I mean, a currency is considered as such if it is used and mutually accepted by the parties involved that it is what it is, a form of payment. You may get what you want in exchange for it and the seller will also give you what you want in exchange for it. That makes a currency a currency. And Bitcoin is clearly functioning as such. Therefore, I conclude that Bitcoin is a form of 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.
Tôi nghĩ rằng bitcoin để trở thành tiền tệ là không thể xảy ra, bạn có thể thấy rằng bitcoin đang liên tục biến đổi động và điều chỉnh cực mạnh, bitcoin giá trị bất ổn là bitcoin không được kiểm soát any any country, you can see that the field is currently continued the dynamic variable and adjust the very strong, bitcoin bitcoin is not enough to be become to 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.
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.
I think that bitcoin can only become a commodity for exchanging between USD and altcoin and not be able to monetize, you can see that the amount of bitcoin in the world is very limited and if inflation happens we can not Any more bitcoin will be printed and this will gradually lead to social sluggishness and can not develop. 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 can use as payment of online market. The process of transaction is being done using BTC. It also has value for different prices.
So, I would say that Bitcoin is a currency.
Yeah this can be considered as currently because it is being used in garment shops and food restaurants etc. people are now using them for making their lives easier. They are enchain their living standard from this crypto world. So yeah we can call them as currency. It is more than a source of income now as well. They are being used for making good earning source. So, I would say that Bitcoin is a currency.
In order for bitcoin to become a currency, there must be an acceptance of the bank's government and the protection of state law, and a mechanism for bitcoin to operate and develop as a currency.
The role of the government of different countries is something which will play vital role in helping and promoting of the different crypto currencies and that I am very much sure that if things keep on happening in the similar way, then there will come a time when we will be experiencing these crypto currencies taking lead over the regular currencies which are there in this world.
For a bitcoin to become a currency, it is possible for the person who made it to become a currency that can not be controlled by the bank. In other words, this currency can pay for any item
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 in my opinion is not as currency but bitcoin is more as a promising investment than gold, besides bitcoin can also be converted to local currency. and after that bitcoin can be used for transactions to buy our needs. So my conclusion is bitcoin can be labeled as currency but indirectly
From my understanding bitcoin got innovated as a technology based asset to make advancements to the banking community fulfilling certain elements that were a big task on a banking system. At the beginning it simply started as a token with small value and the same further kept its usage diversified over various sectors. At some point people started giving importance similar to currency as the value peaked. Later it became an investment that could give a profit which we cannot get anywhere else.
I think so tooBitcoin has innovated as an asset based on the most advanced technology.
First it simply begins as a token with a small value and further keeps it usefully varied in different fields.
At first it was just normal parameters it increased later and its value to the community its profit margin was quite high.
To be an actual currency it needs to be widely accepted by governments. Since it's decentralized I don't think it will ever be accepted as a currency. However becoming a means of value and payment instrument is definitely the shape it's taking. Companies like ours however create protocols to make bitcoin used as a currency in every day commerce.
The currency means if someone can exchange it and it should have value,I think the bitcoin satisfy this requirement so this can be called as a currency too.But until now the bitcoin acceptance as currency is vey rarw we are just using it for the trading of the rypto currencies soon might be the world will adopt to the system where bitcoin will be the main currency.
It is on the people how they are going to use bitcoin as a currency if people will gonna use this as such for the payment for their bills etc and will use to remit money to their loved ones then bitcoin will be considered as a currency but nowadays I think that many people are using this as a way of investment rather than currency. Precisely. Where it goes next is in the hands of the people who use it. I think that the speculative bubble made it an attractive investment for most people (for a certain amount of time) but now that things have settled a bit, and the dust has cleared, we're starting to see that it has more potential than just a speculative roller-coaster. I try to use it myself for daily payments, and I hope others do too, so it can gain trust as a method of exchange. People are still uncertain but we should just keep using it safely to build up confidence.
The currency means if someone can exchange it and it should have value,I think the bitcoin satisfy this requirement so this can be called as a currency too.But until now the bitcoin acceptance as currency is vey rarw we are just using it for the trading of the rypto currencies soon might be the world will adopt to the system where bitcoin will be the main currency.
It is on the people how they are going to use bitcoin as a currency if people will gonna use this as such for the payment for their bills etc and will use to remit money to their loved ones then bitcoin will be considered as a currency but nowadays I think that many people are using this as a way of investment rather than currency. Precisely. Where it goes next is in the hands of the people who use it. I think that the speculative bubble made it an attractive investment for most people (for a certain amount of time) but now that things have settled a bit, and the dust has cleared, we're starting to see that it has more potential than just a speculative roller-coaster. I try to use it myself for daily payments, and I hope others do too, so it can gain trust as a method of exchange. People are still uncertain but we should just keep using it safely to build up confidence.
Jump to: