POLL: Bitcoin is/should be a currency, store of wealth, or both - page 2.

franky1

legendary

Activity: 4424

Merit: 4794

Quote from: jtalk on January 03, 2016, 12:03:17 PM

One way or other in both case Bitcoin is digital currency.Anything which can be used to complete a transaction between two or more people and later on can be used for something else is currency.we can store money as well so both are same in my opinion ~~just one is physical whereas other is digital/virtual~~.It should be and is both.

agreed currency is anything 2+ people see value in.. and if you hold the currency for a long time then its obviously 'stored'..
thats why i tried to clarify the OP as i think he wants to know if people prefer to spend it short-term or prefer it to be a reserve.

Zontop

sr. member

Activity: 854

Merit: 256

Bitcoin is both and there are number of people using it as currency and as storing their virtues.There will always be some people those will never be agree on one point or second.

jtalk

legendary

Activity: 1610

Merit: 1004

One way or other in both case Bitcoin is digital currency.Anything which can be used to complete a transaction between two or more people and later on can be used for something else is currency.we can store money as well so both are same in my opinion just one is physical whereas other is digital/virtual.It should be and is both.

jyakulis

sr. member

Activity: 469

Merit: 250

J

It should function as money does....so both

franky1

legendary

Activity: 4424

Merit: 4794

Quote from: ?? on ??

I think bitcoin was meant for everyday use, but honestly I have not read Bitcoin whitepaper. Once it reaches some stability I think it will be a suitable way to store wealth. I would feel a bit disappointed if Bitcoin was intended to make people rich (as the people waiting for its price to reach thousands want), what would be the difference with altcoins, then?

satoshi's vision was a way to send value to others without a bank. whether its hourly or yearly..
the problem is that as bitcoin gets more popular. the less capacity there is for people to send value as and when they like, for instance if you want to buy a coffee in the morning and a beer in the evening (2 transactions) will only allow 288,000 people to use it just 2 times a day
(4000tx per block x 144blocks a day=576000transactions = 288,000 people doing 2 tx a day)

electronicfactura

hero member

Activity: 714

Merit: 500

I am already using Bitcoin for both purposes as currency because it is way more convenient for transferring funds than existing methods and having converted my money into it and keeping it in my wallet makes me my own bank.

withche.07

sr. member

Activity: 549

Merit: 259

Blockchain with solar energy

Bitcoin should be both.

victoryboy

hero member

Activity: 728

Merit: 500

Bitcoin is both a currency and a way to store wealth in shape of investment in it then to hold it for long term to get real juice out of this.It is a currency which is at very early stage and making its way clear to be adopted and used widely in future.

franky1

legendary

Activity: 4424

Merit: 4794

currency is something bitcoin will always be. no matter how its used or stored.

i think you should rephrase the poll to be:
( ) daily spend
( ) long term store

as even long term store assets can still be currencies

jonald_fyookball

legendary

Activity: 1302

Merit: 1008

Core dev leaves me neg feedback #abuse #political

I started this poll after hearing people
say Bitcoin isn't suitable as a currency,
which surprised me. I think its both.
But that is my personal opinion.

What do you think?

Topic: POLL: Bitcoin is/should be a currency, store of wealth, or both - page 2. (Read 1430 times)