Topic: How well does Bitcoin function as a currency? - page 5. (Read 3267 times)
Bitcoin and cryptos are young and very small. Maybe Bitcoin will be digital gold, maybe it will be currency. It's hard to tell this early in the game. What Bitcoin can do will depend on the features added in the years to come.
Bitcoin is still very young, although it is not widely accepted as a means of payment, it will do more in the near future as a payment.
bitcoin helps me to invest in bitcoin to help me in the economy of my life and I am grateful for the current bitcoin and hopefully it will benefit everyone
Personally, I believe bitcoins true value and future lies much more as an asset class then as a currency to be spent. It'll be more like gold then local currency.
It's deflationary nature will strongly discourage it's use as a currency, and it's properties as a store of value/inflation hedge make it a far more natural fit then as a traditional means of exchange.
It's deflationary nature will strongly discourage it's use as a currency, and it's properties as a store of value/inflation hedge make it a far more natural fit then as a traditional means of exchange.
Bitcoin is still very young, although it is not widely accepted as a means of payment, it will do more in the near future as a payment.
Successful currencies meet three criteria:
(1) they are in widespread use as medium of exchange
(2) they serve as unit of account
(3) they are a stable store of value.
Most sovereign currencies fully meet all three criteria.
What about Bitcoin?
well on number 3 i think its hardly toajntsin that kind of staff because of the volatility of the price in the market bitcoin cant easily attain on being a stable price. Any crytocurremcy id hard to attain that. As the investor getting bigger theres also will be a lot of changes on the price because of the holders and panic sellers. As theres an improvement on cryptocurrency the price itself cannot be stable. (1) they are in widespread use as medium of exchange
(2) they serve as unit of account
(3) they are a stable store of value.
Most sovereign currencies fully meet all three criteria.
What about Bitcoin?
Bitcoin meets all of those criteria that has been posted by OP.
Currency = money
Virtual money = virtual currency / cryptocurrency
Bitcoin is not a currency, bitcoin is virtual money where you can pay or send someone for a bit of bitcoin without a third party intermediary.
But.Currency = money
Virtual money = virtual currency / cryptocurrency
Bitcoin works well as a medium of exchange and more and more large organizations are beginning to accept it as payment for their goods and services.
Basically bitcoin is not really a currency it has only a digital value that have a corresponding equivalent to the real currency and that is why it was called a virtual currency or a currency that has no true legal value but because of global massive adaptation, the bitcoin is become more popular of being a virtual currency and with the trend of world technology its not far that it will become the universal currency in the near future.
Bitcoin-based operations:
1. Input: This is an address record that was used to send the bitcoin to the trader.
2. A sum of money: This is the amount of bitcoin that the trader sends to the user.
3. An output: This is the bitcoin address of the user.
1. Input: This is an address record that was used to send the bitcoin to the trader.
2. A sum of money: This is the amount of bitcoin that the trader sends to the user.
3. An output: This is the bitcoin address of the user.
Bitcoin works well as a medium of exchange and more and more large organizations are beginning to accept it as payment for their goods and services.
Bitcoin used as exchange and it also accept as payment in some country, and that's how it function as currency. If Bitcoin continue to be well-known possible the country that accept it will increase, and that is mean Bitcoin will be more stronger and more valueable. I think Bitcoin will become more popular this time because it has many supporters and believers and when years goes by there are possibility it will be used as alternative as payment. 
Bitcoin works well as a medium of exchange and more and more large organizations are beginning to accept it as payment for their goods and services.
With bitcoin and a lots of altcoins out there, the payment system will be much more easier than using fiat currency. Most of our daily undertakings uses money; buying foods, buying clothes, making bill payments and many more.So with the idea of blockchain, our daily living will be made easier and simpler. Time and effort will be saved.
All three criteria above are not in bitcoin. Compared with currencies, bitcoin is more suitable as a digital asset. The fluctuation of the price per bitcoin coin makes the people holding it can benefit so bitcoin is much better served as a digital investment than currency.
It is true that the majority of people today buy Bitcoin to be a future asset, so people are reluctant to spend it but I think from now on we have to dare to try to use Bitcoin as a currency, so that the goal of Bitcoin as a digital currency can be realized.
if in the city where I live. if a fellow member or person who invests in bitcoin. very fun bro. bitcoin is used to buy goods. but when it comes to people who still don't know bitcoin. can't, bro, you have to use paper currency
in my opinion, bitcoin has fulfilled all of the above criteria, maybe just because bitcoin is a decentralized currency, bitcoin has an unstable value compared to fiat eyes. Bitcoin is proposed by satoshi as a digital currency and it must be recognized by us
All three criteria above are not in bitcoin. Compared with currencies, bitcoin is more suitable as a digital asset. The fluctuation of the price per bitcoin coin makes the people holding it can benefit so bitcoin is much better served as a digital investment than currency.
It is true that the majority of people today buy Bitcoin to be a future asset, so people are reluctant to spend it but I think from now on we have to dare to try to use Bitcoin as a currency, so that the goal of Bitcoin as a digital currency can be realized.
Successful currencies meet three criteria:
(1) they are in widespread use as medium of exchange
(2) they serve as unit of account
(3) they are a stable store of value.
Most sovereign currencies fully meet all three criteria.
What about Bitcoin?
(1) they are in widespread use as medium of exchange
(2) they serve as unit of account
(3) they are a stable store of value.
Most sovereign currencies fully meet all three criteria.
What about Bitcoin?
Bitcoin is not a currency, bitcoin is virtual money where you can pay or send someone for a bit of bitcoin without a third party intermediary.
Successful currencies meet three criteria:
(1) they are in widespread use as medium of exchange
(2) they serve as unit of account
(3) they are a stable store of value.
Most sovereign currencies fully meet all three criteria.
What about Bitcoin?
(1) they are in widespread use as medium of exchange
(2) they serve as unit of account
(3) they are a stable store of value.
Most sovereign currencies fully meet all three criteria.
What about Bitcoin?
Bitcoin function as a currency maybe less than good. If bitcoin want to be used as a currency globally, it will have to do instantly.
The transaction confirmation of bitcoin is slow, but there will be lightning network which can improve greatly the speed of bitcoin transactions.
Successful currencies meet three criteria:
(1) they are in widespread use as medium of exchange
(2) they serve as unit of account
(3) they are a stable store of value.
Most sovereign currencies fully meet all three criteria.
What about Bitcoin?
(1) they are in widespread use as medium of exchange
(2) they serve as unit of account
(3) they are a stable store of value.
Most sovereign currencies fully meet all three criteria.
What about Bitcoin?
It's very well but it's not safe enough to make people trus bitcoin.
If the security is more improved, i'm sure bitcoin will be a global currency in the future
Bitcoin is already a currency and you can find various things to buy with bitcoin. I think it accomplished all three points.
Successful currencies meet three criteria:
(1) they are in widespread use as medium of exchange
(2) they serve as unit of account
(3) they are a stable store of value.
Most sovereign currencies fully meet all three criteria.
What about Bitcoin?
(1) they are in widespread use as medium of exchange
(2) they serve as unit of account
(3) they are a stable store of value.
Most sovereign currencies fully meet all three criteria.
What about Bitcoin?
It's very well but it's not safe enough to make people trus bitcoin.
If the security is more improved, i'm sure bitcoin will be a global currency in the future
Jump to: