Topic: Is Bitcoin Worth To Be Currency? - page 7. (Read 15653 times)
in my opinion, bitcoin can be used as a currency if all countries can accept and support bitcoin because if all countries support the price of bitcoin will be stable and can be used as a currency and will make us easier to use
I think bitcoin can be categorized as money because bitcoin has fulfilled some requirements to be money in economics, such as having value on other goods, can be used as store of value, generally accepted, etc.
Directly they will implement Bitcoin as cash but we can use them for online stores for payment, in the coming days it makes easier for us holders we use them anywhere in the world. In the coming days, many stores will start accepting the Bitcoin as one of the payment methods.
More than anything. Crypto currency's weakness as a means of exchanging goods and services is its volatility. A volatile currency won't be adopted by merchants in their businesses. But tthe same volatility is the advantage of crypto currency as an investment. I just hope it becomes stable soon so we can see adoption.
Volatility is not a weakness because in this way the price can grow even more depending on the supply and demand so we can expect higher prices in the future since the statistics in the market is increasing in a fibbonacci sequence.
If you have Bitcoin right now then look at its market value and then tell others that you have precious coins though stored in digital form but works well than anything. Now, German banks are using it as loan payment so the cloud is growing and expanding with the passage of time.
Bitcoin should be and is more than just a currency. With all the currencies in the world, bitcoin was able to be the most versatile and flexible in everything that currencies should be. It meets the important criteria that many currencies both in real and digital world lacks in their system or the way they are being used.
Due to the volatility of bitcoin's value as of now it will never be worthy to be a currency. For me personally I find bitcoin more as a store of value rather than use it as a currency for the fees are so high and sometimes slow transactions speed. Maybe few years from now when its value will be more stable then we could say that bitcoin is really worthy to be come a currency and use it in our everyday transactions.
That can be possible in next few years. When most of the coins are mined, the price will get stable as well. This is because most of the people would not like to sell their bitcoins at that time as it will become very precious and get accumulated to limited people only.
when most coins are mined , the value of bitcoin will possibly rise and that can lead to dumping again because majority of the people will now sell thier coins in which it can cause for the price to become unstable due to severe fluctuations . bitcoin will remain this way , thats why i think it isnt really worth it to become a currency .
most of us will permanently treat bitcoin as an asset only . while other cryptos such as altcoins can also be used for a currency purposes .
Due to the volatility of bitcoin's value as of now it will never be worthy to be a currency. For me personally I find bitcoin more as a store of value rather than use it as a currency for the fees are so high and sometimes slow transactions speed. Maybe few years from now when its value will be more stable then we could say that bitcoin is really worthy to be come a currency and use it in our everyday transactions.
That can be possible in next few years. When most of the coins are mined, the price will get stable as well. This is because most of the people would not like to sell their bitcoins at that time as it will become very precious and get accumulated to limited people only.
I believe Bitcoin will be considered as a legal form of digital currency worldwide and may small establishment will accept these. As we look into its concept and platform, we saw its potentiality around but some government authorities still doubt of these and some thinking of huge money laundering happen. And some worries that, crypto won't stay long for us and causes only economic threats to us.
Those bad impressions still keeping bitcoin being accepted as a payments options, its a digital currency indeed but there's less end users who use it instead they are keeping bitcoin as an assets to invest their spare money, for me it's good to have an alternative like bitcoin especially inside this digital era, being a currency to advance payment process can be a good sign of innovations, bitcoin just need to resolve issues that still in questions.
Bitcoin has whatever that qualifies an entity to be a currency. It can be used just as normal fiat currencies. It is only a decentralized and digital currency.
I think bitcoin can be categorized as money because bitcoin has fulfilled some requirements to be money in economics, such as having value on other goods, can be used as store of value, generally accepted, etc.
I think yes, it is worth to be a currency even if the price is rollercoaster in the start up to now. Because it is generate in the internet and it is the king of all crypto world, cryptocurrency is known because of bitcoin.
I think bitcoin can be categorized as money because bitcoin has fulfilled some requirements to be money in economics, such as having value on other goods, can be used as store of value, generally accepted, etc.
Are all overprinted, unfairly distributed, centralized fiat currencies "worthy" of being a currency?
No they are not worthy, but they have the characteristics needed to be a currency, and if even fiat currencies can be said to have those characteristics then we need to accept that bitcoin has those characteristics and more to be considered to be a form of money, what it happens is that they do not want accept it because they know that if they do it, people will put fiat currencies and cryptocurrencies at the same level and governments do not want that.
we must accept that bitcoin is functioned as a currency but it is a digital currency. Bitcoin is now accepted for payment in some countrties
Due to the volatility of bitcoin's value as of now it will never be worthy to be a currency. For me personally I find bitcoin more as a store of value rather than use it as a currency for the fees are so high and sometimes slow transactions speed. Maybe few years from now when its value will be more stable then we could say that bitcoin is really worthy to be come a currency and use it in our everyday transactions.
that is why bitcoin became more like an investment rather than just a currency, with the conversion of bitcoin to fiats has high fees and now it does became a great medium for investment like forex, as volatility is high, bitcoin being a currency to be used like fiats seem have a gray area, meaning as we speak, it will definitely not gonna replace fiats nor co exist on an equal value as dollars or local currencies.
I don't think it's worthy of being a currency, not because of the technology, but because of its volatility. need a low level of volatility to be used as a currency. currently bitcoin is an investment asset, and it is not time to be used as a currency.
Bitcoin worth more than even a currency. Bitcoin is dynamic and offers several benefits which includes the feature of a currency. Bitcoin is considered a currency because it offers security in the transactions, speed, low costs and owner control of transactions.
More than anything. Crypto currency's weakness as a means of exchanging goods and services is its volatility. A volatile currency won't be adopted by merchants in their businesses. But tthe same volatility is the advantage of crypto currency as an investment. I just hope it becomes stable soon so we can see adoption.
Volatility is not a weakness because in this way the price can grow even more depending on the supply and demand so we can expect higher prices in the future since the statistics in the market is increasing in a fibbonacci sequence.
I think at best, Bitcoin is currently a store of value and at worst a speculative asset. It is barely used as medium of exchange, as it is as of yet not widely accepted as a means of payment. Most transactions are of a speculative nature. Moreover, Bitcoin’s value is currently way too volatile to function as money, as it is not a reliable store of value.
It's possible, along with the existence of developments which until now continue to be carried out, maybe we will see that bitcoin can be used as a currency in the years to come because he has had its own value during its development both as selling points, payment instruments, and investment media.
Bitcoin was created to be the currency and assets used worldwide so it is perfectly deserving of becoming a common currency. Bitcoin can become a widely used currency because of its fast and secure trading. In addition, ETH and XRP are also coins that are likely to become very large currencies.
Of course. I Bitcoin is not worth in crypto currency. Maybe cryto currencies will not be famous like this. Because Bitcoin more and more people know the crypto currency and use it too. Therefore Bitcoin is very valuable.
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