Topic: How well does Bitcoin function as a currency? - page 8. (Read 3267 times)
It is a digital currencies that you can use of mode of exchange and its continuing develop atm's in some country . Some country are accepting bitcoin especially on the tourist country. No hassle free just by sending using your mobile phone. Everything will be easy.
Bitcoin function well as currency because it is already beign used to buy items online.Many people use it also for faster payment transactions.If you have bitcoin, it means you have money.That's it!
As far as stableness go, I do not think bitcoin is. It is highly unpredictable and seeing how many times the price went down, it is not stable enough as a currency. It also is not being used by more people as everyone in the crypto world expects and wants. But give it a few more years and it might get back up again like all other currencies.
bitcoin has shown many times that it works perfectly as a currency! and the increase in services and online stores that take payment in bitcoins is the best evidence that speaks about bitcoin as the best currency
I often use bitcoin as a currency but not frequent. It serves a mean of payment when ever i tendered service to some of my on the crypto world, then when ever I received it, I head to exchange to use it to secure another trending token.
the bitcoin functions optimally well as a currency as it has its own way of being characterized as it relates to the cryptocurrency part of the whole dealings. i must conclude by saying that the few years i have been in the currency has been fruitful.
I always use Bitcoin as a stable store of value. You must understand that developing countries have problems with national currencies, so something like BTC is great alternative for people.
I unfortunately do not use bitcoin as a currency, like most people. But I think that over time, bitcoin will be able to serve as a full-fledged currency. Just for its development in the world need more time.
Honestly, I have no idea how well it works. But I hope that it should work well, because companies, which allowed to pay for their speeches and services bitcoin, they have to perfectly make this system, because it is profitable for them.
Bitcoin is hardly a full-fledged currency now. Now it perfectly performs the role of investment funds, and it is also very cool.
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?
[lllL/quote]
Bitcoin meets some of these criteria. It can serve as a store of value effectively as well as medium of exchange. But in the aspect of serving as a unit of account, Bitcoin might not fit into that category. It cannot be used as a legal tender.
(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?
[lllL/quote]
Bitcoin meets some of these criteria. It can serve as a store of value effectively as well as medium of exchange. But in the aspect of serving as a unit of account, Bitcoin might not fit into that category. It cannot be used as a legal tender.
For now I can't use bitcoin as a payment method because in my country I don't legalize it, and because of that I use bitcoin as an investment.
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?
Bitcoin now still works poorly as a currency and as a payment system. Its primary use as a speculative means of accumulating value is very detrimental to the use of bitcoin as a means of payment. It can end badly for him. It can be bypassed by more successful coins and bitcoin may lose its status as a leader in crypto currency. (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?
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?
I guess this cryptocurrency function really well and the fact that Bitcoij is used as medoum of payment and transactions this may be a thing for us that Bitcoin can also be a form of currency in which it comes in a different for and aspect where we could possibly used this one, and Bitcoin function as a currency in the way it was the medium of payment for every service exchange.
I think as a coin works very well, not for nothing it is in the first place in the list of cryptocurrencies. If you solve such issues as the legalization of bitcoin and cooperation with governments, it will become more successful as a currency.
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?
It's still very far if Bitcoin is matched with the nation's currency, because there are several countries that ban Bitcoin, plus the lack of shops or shopping places that accept payment with Bitcoin, but I think the function of Bitcoin as a currency in world life has been very good, where Bitcoin has contributed to the global economy. But it still takes a lot of time for Bitcoin to become a world-recognized real currency. (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 can meet the first two criteria you give but it probably doesn't meet the third criterion because of its price volatility. It's still not the right currency.
In my opinion,bitcoin is now not fully used as a medium for financial transactions,it is possible to calculate the use of Bitcoin as a currency of only a few percent.While more use of bitcoin is currently used as an investment.We all have to continue to increase the use of bitcoin as a currency because Bitcoin is literally created for that.
If the price of BTC is not very stable, then I think it is impossible to be a benchmark currency in the short term, so the possibility of being a currency is still very small.
Bitcoin has fully potential to achieve beyond the 3 criteria. We cannot expect it to accomplished right now as it is in premature phase of bitcoin. We should wait and see. I personally think we are in the right track to become most powerful digital currency.
Jump to: