investment mode of btc is best or currency mode??? - page 2.

Smarty14392

sr. member

Activity: 560

Merit: 286

Quote from: aoihs00 on November 23, 2017, 11:29:20 AM

Quote from: usam_coiner on November 19, 2017, 11:37:33 AM

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

It is true that the principle behind the creation of bitcoin was to make it as easy currency to transfer the funds form one point to another or in simple words easiest peer to peer transaction experience. But with the time people took it completely in wind way and starts making the investment instead of transactions and thus the bitcoin got the status of greatest asset ever and it also broke all the record in very short period of time. So I'm pretty sure that now bitcoin will used as an asset only and there is no coming back from it because man just look at the number of investors here and they all just waiting for the rich status to obtain by suing bitcoin itself. :-)

I think its not our fault because bitcoin itself got so much powerful that we had no option but to adopt it in that way. But let see we still have scope of the bitcoin in future as financial institutes from real world still have nit got any interest in it but they will surely.

Transactions are still being done and one thing is that it is a normal thing to see when considering all options in this ecosystem and everyone serves a purpose (spenders, holders, traders etc.).

Normal human consciousness will normally not want to quickly spend something that can also serve as an asset and increase in the long run, but that does not mean we do not have spenders at all. After all, I still used part of my bitcoin to buy some groceries recently so we cannot just assume that no one is spending.

merchantofzeny

sr. member

Activity: 1036

Merit: 279

Quote from: MiF on November 20, 2017, 03:16:24 PM

Quote from: merchantofzeny on November 20, 2017, 02:54:11 PM

Quote from: cellard on November 19, 2017, 11:49:48 AM

Quote from: usam_coiner on November 19, 2017, 11:37:33 AM

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

The price of something goes up if it's desired, and has a certain set of properties that make it a good long term holding.

Bitcoin first needs to be a store of value, a currency is the next step after that, and thus far we are still in the store of value process. We need to defeat gold as store of value. Daily usage of BTC will come with lightning networks. We don't need to do anything other than keep developing the technology and people will freely choose to use it as a currency, until then it's just digital gold.

This is how I tend to use it. I only convert to fiat what I needed to use and try to keep the rest for holding. I still find it a bit silly to use it to buy stuff considering how the price can still rise. Maybe that would change once we've defeated gold and fiat, or at least bitcoin comes to their level of use. I mean, how many people here get their salary in bitcoins?

That's true and it's really applicable to me right now mate, the proof is their already so for me it's the best currency ever. I am not converting that bitcoin just for what I need, but also for my personal expenses like entertainment and other miscellaneous budgets. Although of it's volatility it doesn't mean we will have to panic, we can still spend and don't worry of possible crash because fluctuations will normally happen specially bitcoin now become more popular.

Guess it's more of me being such a cheapskate, ahaha! I would often be like "those bitcoins I withdrew last year... they could be worth double now had I waited". Anyway, I don't really need it for daily use anyway so I can just keep them there.

merchantofzeny

sr. member

Activity: 1036

Merit: 279

Quote from: evilgreed on November 21, 2017, 01:15:59 PM

Quote from: merchantofzeny on November 21, 2017, 01:08:41 PM

Well good for you, I barely spend any (quite ironic for my username). Grin

The thing is, I don't mine any crypto so every bit I earn I really have to work for. I managed to snag some campaigns here before, that's how I started learning how to use bitcoins anyway. I no longer participate in any now though. They are far in between because of the high price and obviously we seem to get millions of newbies everyday here, ahaha. Grin

I'm currently looking into getting to learn skills so I can freelance and earn more. For now, my money is staying in the wallet.

Isn't it a already a bit crowded when we got millions of newbies every day? Well setting that aside i am also positive bitcoin will be good in a long run, although several updates and technical changes have been made in order for it to be used smoothly, nothing has change to what bitcoin really is, and it doesn't fit for me usng bitcoin as a day to day currency although its made to be used as one, but i choose to hold mine inside my wallet.

Not only am I hopeful, we need it. Sooner or later economies running on what is basically debt would have a crash turning everything we worked for into dust. Cryptocurrency is one possible way for us to avoid being a casualty.

arseaboy

hero member

Activity: 644

Merit: 500

Quote from: 0t3p0t on November 28, 2017, 07:55:47 AM

Quote from: usam_coiner on November 19, 2017, 11:37:33 AM

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

During Bitcoin's early age the essence of being a new form of currency can be seen but as it has gained popularity in the community, Bitcoin's price skyrocketed until today that is why enthusiasts see something that Bitcoin has potential when it comes to investment purposes. Most crypto enthusiasts these days are into investing time and money to earn profits with cryptocurrency most especially in Bitcoin. Some people are holding Bitcoins for long term investment and some others trade Altcoins in exchange of Bitcoins. It doesn't matter on how we understand and deal with Bitcoin either an investment, a store of value or a currency.

I also noticed that crypto industries already created a mindset, that investors will gain if they know how to work with it, the essence of creating a new form of currency to make payment transactions more easier is no longer the main point of holding bitcoin, who would thought that this will happen so fast and from
now on people are holding and keep placing their resources with this current investment.

0t3p0t

sr. member

Activity: 1736

Merit: 357

Peace be with you!

Quote from: usam_coiner on November 19, 2017, 11:37:33 AM

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

During Bitcoin's early age the essence of being a new form of currency can be seen but as it has gained popularity in the community, Bitcoin's price skyrocketed until today that is why enthusiasts see something that Bitcoin has potential when it comes to investment purposes. Most crypto enthusiasts these days are into investing time and money to earn profits with cryptocurrency most especially in Bitcoin. Some people are holding Bitcoins for long term investment and some others trade Altcoins in exchange of Bitcoins. It doesn't matter on how we understand and deal with Bitcoin either an investment, a store of value or a currency.

Reid

hero member

Activity: 3052

Merit: 651

Even if we want to, how can we let go of something that keeps on going up?
That is just one problem.
Next is where will we use it?
There is a lack of merchants that accepts bitcoin as a means of payment.
Usage will never be done unless we do have some place where we could spend it.
Items like the one on Amazon that almost have it all will help.
But who is going to risk it? Will there be one company who will take the next step?

beerlover

legendary

Activity: 3052

Merit: 1188

Quote from: usam_coiner on November 19, 2017, 11:37:33 AM

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

It totally depends on the mode you want to switch yourself to. Both are good, but we both know if you invest it properly, it is more like multiplying what you have which does not mean you cannot do the two.

Spending is important and if trading is normally not even going on right now which is still part of currency mode as far as I am concerned, we won't be seeing the fluctuations we are seeing. Certainly we cannot deny the fact that it is not widely accepted yet, which is what makes the currency mode difficult without having to convert to fiat before, but it is a gradual thing.

CuriousGeorge

sr. member

Activity: 1498

Merit: 251

KUWA.ai

Quote from: Kronos21 on November 23, 2017, 01:00:07 PM

Quote from: aeternus on November 23, 2017, 12:24:34 PM

Quote from: cellard on November 19, 2017, 11:49:48 AM

Quote from: usam_coiner on November 19, 2017, 11:37:33 AM

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

The price of something goes up if it's desired, and has a certain set of properties that make it a good long term holding.

Bitcoin first needs to be a store of value, a currency is the next step after that, and thus far we are still in the store of value process. We need to defeat gold as store of value. Daily usage of BTC will come with lightning networks. We don't need to do anything other than keep developing the technology and people will freely choose to use it as a currency, until then it's just digital gold.

People are not going to do something that goes against their interests, people do not use bitcoin right now because they do not find it practical, but when bitcoin finally becomes what we know it can become a fast way to make payments all around the world, people are going to use it instead of fiat.

In order for bitcoin to have received such quality as you say should totally change the conditions for its use. Now bitcoin is used for accumulation and indirectly supports Fiat. Because in order to make purchases, we are forced to change their coins for Fiat. All purchases we make for Fiat. This means that we will never give up Fiat.

That's the problem, people just use bitcoin to convert it to fiat, the payment method with bitcoin is not practical and rather expensive really different compared to the past when the blockchain still not this crowded.
we can conclude that bitcoin will can't beat fiat as a function to be a payment method until atleast bitcoin becoming more practical to be used.

aeternus

sr. member

Activity: 686

Merit: 250

Quote from: Kronos21 on November 23, 2017, 01:00:07 PM

Quote from: aeternus on November 23, 2017, 12:24:34 PM

Quote from: cellard on November 19, 2017, 11:49:48 AM

Quote from: usam_coiner on November 19, 2017, 11:37:33 AM

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

The price of something goes up if it's desired, and has a certain set of properties that make it a good long term holding.

Bitcoin first needs to be a store of value, a currency is the next step after that, and thus far we are still in the store of value process. We need to defeat gold as store of value. Daily usage of BTC will come with lightning networks. We don't need to do anything other than keep developing the technology and people will freely choose to use it as a currency, until then it's just digital gold.

People are not going to do something that goes against their interests, people do not use bitcoin right now because they do not find it practical, but when bitcoin finally becomes what we know it can become a fast way to make payments all around the world, people are going to use it instead of fiat.

In order for bitcoin to have received such quality as you say should totally change the conditions for its use. Now bitcoin is used for accumulation and indirectly supports Fiat. Because in order to make purchases, we are forced to change their coins for Fiat. All purchases we make for Fiat. This means that we will never give up Fiat.

Many people make the comparison between gold and bitcoin, gold has always been hoarded and in the past was used as a currency so I do not think the fact that people are hoarding bitcoin to be something that plays against bitcoin, in fact I think it is a good thing since that means people trust in bitcoin to retain its value.

waynechong1995

full member

Activity: 644

Merit: 117

swing!

With this ongoing trend it's not good news for the community, price going up and down just create more losers when big players decide to go out with those literally millions from fresh buyers that had no idea how this piece of technology works, the price just doesn't align at all with the true usability on bitcoin in our society, YET. I believe those parties that adopting bitcoins as major business are suffering for not having a loyal user base considering all just dive in exchanges, far too much for anyone to control with it's being decentralized and everybody just wants quick profits selling and buying off bitcoins as assets.

Maveth13

full member

Activity: 336

Merit: 112

I think for bitcoin to be used as a currency by everyone as it is intended, the price needs to be stable first. Yes you can use bitcoin to buy things, but the first thing that comes to people's mind when doing this is that the amount they will spend now might double after X amount of time. Because of this, people repress on spending btc and just hold as an investment.

farhaan

sr. member

Activity: 392

Merit: 250

Bitcoin was actually created as a currency but latter with its increasing price,people started to see it as an investment.It was getting used for both purposes.

But latter,people started using it mostly as a high return giving investment and just started buying more bitcoins.If it gets continued to used just as investment,then it would not enter in to mainstream and it would be just stored as gold.

TTITA

full member

Activity: 378

Merit: 100

Quote from: usam_coiner on November 19, 2017, 11:37:33 AM

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

I do't think this is a problem. It is inevitable today many new people following then decide to buying many bitcoin for quick profit, this is not contrary to the condition of crypto as currency, because we can see many alternative coins besides bitcoin traded. This is the economic principle, when we follow the trend to get profit with less risk.

Nanot

member

Activity: 266

Merit: 10

Quote from: usam_coiner on November 19, 2017, 11:37:33 AM

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

Become a btc holder you must fucus on its currency price that deals to make sure the wellness of your life in able to protect and make sure that your investment would be succed and progressive.

orka39

member

Activity: 168

Merit: 47

Quote from: usam_coiner on November 19, 2017, 11:37:33 AM

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

You are right when you said start using bitcoin as currency will boost user number and price automatically. But why investment mode is used by more people than currency? Because so far not many sites or especially offline place accept bitcoin as payment.

Duogembrot

full member

Activity: 476

Merit: 100

Quote from: usam_coiner on November 19, 2017, 11:37:33 AM

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

it seems that investments with bitcoin methods are better than others because bitcoin is still cheap and the ups and downs in price are terrible, this could create an opportunity for investors.

JacksonMonroe

newbie

Activity: 28

Merit: 0

Quote from: speedy963 on November 24, 2017, 05:01:19 AM

Quote from: Kronos21 on November 23, 2017, 01:00:07 PM

Quote from: aeternus on November 23, 2017, 12:24:34 PM

Quote from: cellard on November 19, 2017, 11:49:48 AM

Quote from: usam_coiner on November 19, 2017, 11:37:33 AM

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

The price of something goes up if it's desired, and has a certain set of properties that make it a good long term holding.

Bitcoin first needs to be a store of value, a currency is the next step after that, and thus far we are still in the store of value process. We need to defeat gold as store of value. Daily usage of BTC will come with lightning networks. We don't need to do anything other than keep developing the technology and people will freely choose to use it as a currency, until then it's just digital gold.

People are not going to do something that goes against their interests, people do not use bitcoin right now because they do not find it practical, but when bitcoin finally becomes what we know it can become a fast way to make payments all around the world, people are going to use it instead of fiat.

In order for bitcoin to have received such quality as you say should totally change the conditions for its use. Now bitcoin is used for accumulation and indirectly supports Fiat. Because in order to make purchases, we are forced to change their coins for Fiat. All purchases we make for Fiat. This means that we will never give up Fiat.

The main purpose why bitcoin has been created is to be used as a currency, and because of its volatility people come up of an idea on how to grow their bitcoins, their are also lots of methods and ways to grow your bitcoin, and as you said " we are forced to changed their coins into fiats"? well its not like that, nobody is forcing you, and besides there are also lots of new investors that we do not know maybe daily, so volatility was being taken advantage in order to gain and grow your bitcoin. That's it.

I agree with you i think investment mode is the best for BTC because people are actually making a lot from it and people are becoming rich everyday currency mode is not so good in my opinion because bitcoin is not supposed to be real life money.

eaglewhite80

member

Activity: 406

Merit: 36

Quote from: jagdeepjd on November 24, 2017, 04:09:06 AM

Quote from: usam_coiner on November 19, 2017, 11:37:33 AM

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

Bitcoin was certainly made to be used a currency and maybe in future, it would be used as a currency. but at the moment it is mostly used for raising income or investing tool.
for bitcoin to be used as a currency we have to go a long way and solve the scalability issues which bitcoin has currently and global adoption is of course required. In the coming years when we solve this issues by bringing lightning network etc we might see bitcoin being accepted as a regular payment means.

Maybe in future as you have said. The fact remains that using bitcoin now without still having to convert to fiat is not that easy. And what difference does it make from those who are trading on exchanges daily? Leave it or yes, there are still spenders. If the spender the OP is looking for is to be able to do daily transactions with it, then we will just have to wait until it becomes easy, but until then, I guess we have to just see it more like an asset.

speedy963

sr. member

Activity: 631

Merit: 253

Quote from: Kronos21 on November 23, 2017, 01:00:07 PM

Quote from: aeternus on November 23, 2017, 12:24:34 PM

Quote from: cellard on November 19, 2017, 11:49:48 AM

Quote from: usam_coiner on November 19, 2017, 11:37:33 AM

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

The price of something goes up if it's desired, and has a certain set of properties that make it a good long term holding.

Bitcoin first needs to be a store of value, a currency is the next step after that, and thus far we are still in the store of value process. We need to defeat gold as store of value. Daily usage of BTC will come with lightning networks. We don't need to do anything other than keep developing the technology and people will freely choose to use it as a currency, until then it's just digital gold.

People are not going to do something that goes against their interests, people do not use bitcoin right now because they do not find it practical, but when bitcoin finally becomes what we know it can become a fast way to make payments all around the world, people are going to use it instead of fiat.

In order for bitcoin to have received such quality as you say should totally change the conditions for its use. Now bitcoin is used for accumulation and indirectly supports Fiat. Because in order to make purchases, we are forced to change their coins for Fiat. All purchases we make for Fiat. This means that we will never give up Fiat.

The main purpose why bitcoin has been created is to be used as a currency, and because of its volatility people come up of an idea on how to grow their bitcoins, their are also lots of methods and ways to grow your bitcoin, and as you said " we are forced to changed their coins into fiats"? well its not like that, nobody is forcing you, and besides there are also lots of new investors that we do not know maybe daily, so volatility was being taken advantage in order to gain and grow your bitcoin. That's it.

a4techer

sr. member

Activity: 552

Merit: 250

Quote from: usam_coiner on November 19, 2017, 11:37:33 AM

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

Bitcoin was a currency also it is a cryptocurrency and yes we using for income to buy, shop, pay bills and many others that we didnt know before but as of now many country was they approve the legalization of bitcoin and they can use in many transaction and as we can see that bitcoin was continuously growing up or raising up and that is good for us to earn and have income.

Topic: investment mode of btc is best or currency mode??? - page 2. (Read 1086 times)