How does bitcoin become a currency? - page 8.

Cinemo

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Quote from: zhangxie29152784 on March 25, 2018, 08:21:54 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 the future of cryptocurrency. I do believe in the world is to give up. Cause bitcoin is our cryptocurrencies cause a good job, but we are respectable with cryptocurrency and especially in the right direction. Cause bitcoin are not a new cryptocurrency that they belong in the right

Sled

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Bitcoin- in bullish time

Quote from: pokeronlinestatus on July 14, 2018, 02:53:27 AM

Quote from: crypteris on July 08, 2018, 06:13:50 AM

And what about common money? They also exist and used as a method of payment, and nothing more. Maybe I just don't get the point, can you please explain more precisely what you're trying find out?

Well I don’t know much about this person and his statement but as long as I understood the point, common money or fiat that we are using right now in the world wouldn’t be seized to death even when this bitcoin cover up the whole world. Things take time and this will take too and very long time to make a system where fiat and crypto both exists with harmony and peace.

The fiat money will stay to what they are right now and they will just evolved and i agree that it will not be seized because fiat money is supported by the government which government is the strongest type of organization since they are the one who are leading and regulating the country based on their orders.

pokeronlinestatus

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Quote from: crypteris on July 08, 2018, 06:13:50 AM

And what about common money? They also exist and used as a method of payment, and nothing more. Maybe I just don't get the point, can you please explain more precisely what you're trying find out?

Well I don’t know much about this person and his statement but as long as I understood the point, common money or fiat that we are using right now in the world wouldn’t be seized to death even when this bitcoin cover up the whole world. Things take time and this will take too and very long time to make a system where fiat and crypto both exists with harmony and peace.

sumanto

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bitcoin can be a currency because bitcoins have value from buyers and sellers and from the difficulty of getting bitcoin so many people buy and no one sells it at cheap prices so bitcoin can have a sell value and can be a currency.

breathlessz

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Trphy.io

Quote from: orarider on July 11, 2018, 06:58:23 PM

I think that in order for bitcoin to become a currency, people have to manage it. Bitcoin is taxable. Transactions in bitcoin must identify who performs.

i think the key is the role of government. if many countries legalize it, i think it could be a currency. but i think there are still many problems to get there. because the government has not found a policy about it

orarider

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I think that in order for bitcoin to become a currency, people have to manage it. Bitcoin is taxable. Transactions in bitcoin must identify who performs.

Financial Freedom 4U

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Stable coin to make charity free for everyone

As I mentioned alread, people need to do more purchases with Bitcoin, less trading. Yesterday I bought something online and they gave additional discount if you paid with Bitcoin.

Pundi X is working on a device that also enable a retail store to accept Crypto (several coins are supported, not only Bitcoin but Stellar, Wan and others). I am certain if this takes off the market will explode.

MedicineVNT

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For a bitcoin to become a currency, it must be accepted by all governments where the bitcoin is circulated and there must be a law that specifies bitcoin so that bitcoin can operate legally and conveniently.

Vaskiy

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DGbet.fun - Crypto Sportsbook

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.

Dark Sky

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Quote from: Okrah on July 09, 2018, 05:56:04 PM

Quote from: zhangxie29152784 on March 25, 2018, 08:21:54 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.

I think bitcoin now..are use as payment in some other country's that accept bitcoin as legal. So for me bitcoin is already accepted also as a new currency because many big industries and company are using also bitcoin as their payment of their transaction made.

Yes many countries are already accept this currency as use payment and that's why many shops and other buying areas bitcoin use in payment and they are really happy because bitcoin is provide them best benefits but most of countries are not accept this currency and they didn't know it will give them a lot loses and that's why their people are face many difficulties about bitcoin, so they are hopping their government will accept very soon.

Okrah

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Quote from: zhangxie29152784 on March 25, 2018, 08:21:54 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.

I think bitcoin now..are use as payment in some other country's that accept bitcoin as legal. So for me bitcoin is already accepted also as a new currency because many big industries and company are using also bitcoin as their payment of their transaction made.

19spawnfeed

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Quote from: ordeath on July 09, 2018, 11:25:11 AM

Quote from: zhangxie29152784 on March 25, 2018, 08:21:54 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.

I am fan not an expert in this area, but for me it's logic that bitcoin needs to be regulated for being more stable, then it needs to became a worthy payment method, and only after those steps it can became a currency like we had a dollar right now.

For the most part, they are exchanged for dollars or other currencies at exchanges like Mt. Gox in Japan. PrivCo estimates that 80 percent of bitcoins are turned into U.S. dollars. And 20 percent are held in inventory by processors and recirculated as bitcoins. The processors charge a fee like brokers to buy and sell bitcoins on the speculative marketplace, which fluctuates wildly at times.

ordeath

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Quote from: zhangxie29152784 on March 25, 2018, 08:21:54 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.

I am fan not an expert in this area, but for me it's logic that bitcoin needs to be regulated for being more stable, then it needs to became a worthy payment method, and only after those steps it can became a currency like we had a dollar right now.

crazymelons12

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Due to bitcoins usefulness it has been made a currency. Without its utility bitcoin will be useless. No matter what history it holds in the past, it would still be the same useless coin had it happened that people didn't value or use it.

Dancobit

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Quote from: Ethan Manson on April 17, 2018, 03:39:11 PM

Gold can't be used as a currency but it still holds value. I don't think the two are mutually exclusive. Bitcoin is the first ever digitally scarce entity. I think its easy to imagine a new generation used to technology placing value on this. As for it being a currency well once the volatility stop why not

If I have my own method to teach bitcoin to beginners, namely: by presenting it using PowerPoint, the explanation should be informative and efficient and accompanied by practice. After the presentation is over I will give the bitcoin materials to the beginners so they will relearn.

Maame Esi Sergio

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Bitcoin has gone beyond what we call currency. As at now, it can only be used as a virtual asset for investment. It is too volatile to be called a currency just like the fiat. Adopting bitcoin as a means of exchange will make you run a lost when ever the price goes down

abruchifid

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bitcoin serves as a store of value,it derives its value from the what the community of user rates it to be,by way of trade,unlike fiats whose value are set by government without anything backing it.

supercanada1

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Quote from: jojowar on July 08, 2018, 06:32:27 AM

Bitcoin actually developed as a currency, a digital currency. The difference is the other currencies has its physical form like fiat but there are both made as a mode of payment.

Well to some extent both of them are same but if we look a the benefit than bitcoin has more benefits than fiat, as we can invest our money in bitcoin t make it more than double and we can also use it as payment resource, buy some bitcoin right now so later on you will get it as double but having fiat saved for years to years will give you nothing as profit, so buy some bitcoin instead of saving your fiat at home or bank, so bitcoin is the currency now almost everywhere in the world bitcoin is really acceptable.

jojowar

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Bitcoin actually developed as a currency, a digital currency. The difference is the other currencies has its physical form like fiat but there are both made as a mode of payment.

crypteris

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And what about common money? They also exist and used as a method of payment, and nothing more. Maybe I just don't get the point, can you please explain more precisely what you're trying find out?

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