Topic: How well does Bitcoin function as a currency? - page 9. (Read 3333 times)
I dont know if bitcoin is a currency bitcoin is an asset. The payment system is good in just capture the QR code of the store they will be paid, transfering money from different part of the world it can person per person and lastly your money is safe in your wallet if you care and keep it surely.
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) Bitcoin manifests new way market and also helps us pay any person around the globe with the use only of internet. Western Union? Remittance? Say no more with bitcoin and cryptocurrency.(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?
2) Cryptocurrency also has different exchanges. Not one, not two BUT SO MUCH. This might be the new era of payment.
3) You can get an account also in crypto. You have diff addresses for the funds to go in there or to pass onto another account.
4) This is what's a little bit wrong about crypto, it is unstable. The price of it is not really stable it is HIGHLY VOLATILE. But, there were agencies that are trying to regulate the use of it. So, welcome to cryptocurrency.
I think everyone will agree that at the moment bitcoin acts more in the role of investment, rather than currency for paying for purchases or services. We will hope that the situation will change.
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?
If that is your definition of successful currency I believe that Bitcoin is still far from being a successful currency. But we cannot deny that Bitcoin is a big threat with what you called successful currency because Bitcoin cannot be copied or reproduce compared to successful currency in the market. It is also more trusted because you can verify the transaction thru public ledger. (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 only functions for now as the currency of the cryptocurrency space. Nothing more!
By the way, this is a very correct question. The problem is that bitcoin has a huge number of technical flaws ... therefore, I doubt very much that this will be used as an alternative, and over time and a substitute for the dollar and any other real currency. So I adhere to the point of view that if the Crypto-currencies and oust the usual money, then at the head of the world economy there will definitely be no bitcoin.
It will take a little time to be able to recognize it as the real currency. For today it is a very good tool for earning and paying through the Internet, which is quite normal. I do not mind that the BTC will be recognized as the real currency, but it should remain only on the Internet.
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?
Today bitcoin is not yet so usable just as the fiat money is. It is just good for investments. It is true that bitcoin does not yet meet the criteria given above but surely bitcoin has helped a lot of people in its own ways.(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?
Anyway people still don't want their bitcoin to be used as a currency because they can earn lot of money from holding the crypto currencies,the only big issue with bitcoin is volatility that can be controlled when people treating bitcoin as bump and dump coins.
Bitcoin is a currency, on the other, Bitcoin is also a distribution network (peer to peer) currency transfer. You can send Bitcoin directly to another person without intermediary, ultra low fees, even zero.
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?
Today bitcoin is not yet so usable just as the fiat money is. It is just good for investments. It is true that bitcoin does not yet meet the criteria given above but surely bitcoin has helped a lot of people in its own ways. (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 but works as a currency.... Bitcoin is use for a transation in which company in to currency...
I think it still needs a more mature consideration when bitcoin is used as a transaction tool in the future because with a form that is difficult to recognize makes a person tend to reject it and learning about bitcoin needs to be done in order to facilitate someone to do various transactions.
Bitcoin is used for payment like a currency. Bitcoin is also used for transaction, its service is really and safe
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 is still on the way to be most popular payment method in the world. So we all need to wait some period of time to look for the best future. This or opportunities can be created in one moment. (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 yet ideal for everyday life, using crypto to instill the habit of using cryptocurrency as a payment system, it will take quite a while because cryptocurrency is currently under development.
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?
in my opinion, as a bitcoin digital currency has provided a great service and made us all satisfied with the results. I think bitcoin has met all the criteria you gave above. unfortunately bitcoin can not be a real currency because bitcoin has not been legalized and the journey is still long.
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 think bitcoin as a currency still not very well done in cryptocurrency world. Bitcoin often used as an investment instrument, or trading.
You can see the volume of bitcoin in the exchange, it is very huge. I think this is because many peoples trades 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?
My opinion on bitcoin is the only true digital currency, which today continues to increase the intensity of its use. But what you say in this post, I think the world wants from the bitcoin, can not be the same and must be different. Bitcoin has it's own strategy.(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 think so far BTC is slowly increasing its medium exchange base and although its not quite stable for various reasons it does however hold a lot of value. With that said, BTC is nearing the digital currency.
Who owns situations about the crypto currency market, can say that bitcoin is very poorly performing as long as its function as a means of payment, that is, as digital money. This is all due to the fact that bitcoin from the very beginning was used as a means of accumulating value, when it began to grow rapidly in value. This continues to the present day and, most likely, it is unlikely that this will change in this regard in the near future. In general, this is very bad.
It will take some more time before btc is recognized a real currency. As of now, it's just a store of value, which is totally fine. I don't mind btc being recognized as only a store or value..just look at gold.
It seems that bitcoin will remain a store for storing valuables. Its use as a digital currency is very limited and this is the biggest problem for bitcoin, since it separates it from other crypto currencies, it will gradually lose the quality of a digital currency. As soon as this happens, it will lose value, and with it the value store will turn into a store of unnecessary relics. Jump to: