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    Author Topic: Bitcoin failed as a currency  (Read 7214 times)

    • imking
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    May 28, 2018, 06:23:19 AM
     #381
    Quote from: brawdias on April 23, 2018, 11:30:57 PM
    Bitcoin was supposed to be used as a currency, not only a form of investment. However, it's been more successful as a form of investment, a "speculative asset".

    Do you guys think that this can change in the long term ?

    What are you saying bitcoin failed as a currency? Base on knowledge bitcoin creates as digital currency, not a currency. There is a significant difference between currency and digital currency. If you say digital currency, it means required an internet connection. If you tell currency, it involves physical such as paper money or physical coins. Yes, there is more shareholder of bitcoin use as form of investment because of the volatility and the potential of value increase by years go by.

  • tokenomics
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    May 28, 2018, 06:49:15 AM
     #382
    The first function of a currency is to serve as a stable medium of exchange, a store of value and a unit of account which Bitcoin does not posses as of the moment, that's why its more of a speculative asses since its value is volatile. Maybe in the long run if the government permits and legalize cryptocurrency and meet its requirements, then it could be a new currency.

  • KingOfWinterfell01
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    May 28, 2018, 07:44:25 AM
     #383
    Quote from: brawdias on April 23, 2018, 11:30:57 PM
    Bitcoin was supposed to be used as a currency, not only a form of investment. However, it's been more successful as a form of investment, a "speculative asset".

    Do you guys think that this can change in the long term ?


    Nope. I think bitcoins are far too small to be used as a global currency. It caters to probably a small country but not the whole world. Bitcoin supply is too small to handle the world even if the value of each bitcoin is so expensive. Maybe we can have some cryptocurrency as a fiat money, but not bitcoin.
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  • Ptrck
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    May 28, 2018, 07:53:23 AM
     #384
    I think it wouldn't. Besides, by that, bitcoin has been purposely working. That's what I really admire in this currency as it serves as an investment too where profits can be met.

  • Missterio
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    May 28, 2018, 07:57:09 AM
     #385
    I think that bitcoin will remain and many other currencies will go bankrupt

  • Hopeful2017
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    May 28, 2018, 08:00:24 AM
     #386
    Quote from: brawdias on April 23, 2018, 11:30:57 PM
    Bitcoin was supposed to be used as a currency, not only a form of investment. However, it's been more successful as a form of investment, a "speculative asset".

    Do you guys think that this can change in the long term ?


    I agree to that. Bitcoin is more of investment, a profit making strategy than its original concept of being currency. If you try to look at now, many investors are now into Bitcoin because they want to have profit rather than use bitcoin as payment method.

  • coinnumber
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    May 28, 2018, 12:18:50 PM
     #387
    Yes bitcoin has really failed as a currency since its all about investment and profit making which was not the original purpose of its creation. Many crypto enthusiasts prefer to use bitcoin for investment instead of payment method which makes it to only be more useful on the internet alone. I believe bitcoin can only perform as a currency if investors decides to use it as a form of payment both online and offline.

  • BitGunner
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    May 28, 2018, 12:24:37 PM
     #388
    I don't think so. As for me, Bitcoin is a powerful coin with the great future and I am sure that it will become the main currency in the future. In the nearest future we will see great changes in the whole system

  • Jennytran_IT106
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    May 28, 2018, 12:26:04 PM
     #389
    Bitcion have time bad

  • Godef
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    May 28, 2018, 12:30:46 PM
     #390
    Quote from: brawdias on April 23, 2018, 11:30:57 PM
    Bitcoin was supposed to be used as a currency, not only a form of investment. However, it's been more successful as a form of investment, a "speculative asset".

    Do you guys think that this can change in the long term ?

    Why, now this crypto currency is well perceived in the society, a lot of respect, and the crypto currency itself shows itself at a level, and I think you can trust it, a great future awaits.

  • Frank Castle
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    May 28, 2018, 12:34:24 PM
     #391
    Quote from: brawdias on April 23, 2018, 11:30:57 PM
    Bitcoin was supposed to be used as a currency, not only a form of investment. However, it's been more successful as a form of investment, a "speculative asset".

    Do you guys think that this can change in the long term ?

    Bitcoin while this is just as an investment but did not rule out bitcoin will become the official currency of a country. For all that requires careful preparation, not all countries that have a comprehensive internet connection, also provide an understanding for the layman about bitcoin etc.

  • SeVenlast
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    May 28, 2018, 12:37:04 PM
     #392
    Quote from: brawdias on April 23, 2018, 11:30:57 PM
    Bitcoin was supposed to be used as a currency, not only a form of investment. However, it's been more successful as a form of investment, a "speculative asset".

    Do you guys think that this can change in the long term ?


    All of it has a process for everyone to use basically, but for now people are more concerned with the benefits that will be in the price of Bitcoin is getting higher.
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  • Jacata98
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    May 28, 2018, 12:55:51 PM
     #393
    If bitcoin will continue to lead among other cryptocurrency, then it will always be an investment tool. As a means of payment, people will use less liquid cryptocurrencies.

  • Bendoo
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    May 28, 2018, 12:58:01 PM
     #394
    Bitcoin is not scalable, it won't be used as currency if this problem is not solved.

  • AaronCrypt
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    May 28, 2018, 12:59:20 PM
     #395
    Progress on Lightning Network is faster than I imagined in my wildest dreams...

    You guys will make big eyes

  • Btcaivah1
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    May 28, 2018, 01:08:06 PM
     #396
    Quote from: brawdias on April 23, 2018, 11:30:57 PM
    Bitcoin was supposed to be used as a currency, not only a form of investment. However, it's been more successful as a form of investment, a "speculative asset".

    Do you guys think that this can change in the long term ?


    I think it really do failed on being a currency. Bitcoin price is so volatile and this way we could think that btc is not good to called as a currency.  If ever in the long term run when btc could stabilise then I think that we can call it to be like the other currency.

  • taranbam
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    May 28, 2018, 01:14:35 PM
     #397
    I think that yes it can change after it has shown stability and will be adopted in large states. Then there will be a clear vision of the regulation of crypto-currencies

  • TN0904950
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    May 28, 2018, 01:15:24 PM
     #398
    Quote from: Daseento on May 24, 2018, 07:30:57 AM
    Eventually it will become stabilise someday, different government are making efforts to understand the technology behind it while some tertiary institutions have started it as a course. By the time the tech is fully understood, the volatility would reduce or eliminated. Only then, can it become a currency.



    I think It may seem strange that people use currency as an investment option because we see our traditional currency losing the price every new day, it becomes unprofitable to hold, otherwise we will have fiat as an investment that is ogled as well and not just to pay for our needs
    There are people who use Bitcoin as currency, so it does not fail. But that is not a rule and everyone can use Bitcoin because it is better suited to their needs.

  • airdrophunter
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    May 28, 2018, 01:17:46 PM
     #399
    Well, that's how bitocin's fate has unfolded right in our very eyes. We can't blame the people's demand that making its market cap and market price so high that it even reached to 20,000$ last year. Though bitcoin failed to be a currency where its creator wanted it to be, but bitcoin has also given another way of making the lives of people better.
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  • ekalak manjeng
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    May 28, 2018, 01:27:50 PM
     #400
    for me, bitcoin survives with cryptocurrency and will not disturb the physical currency of the country. just look at how next about the currency to come.
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