Bitcoin Forum

Do you think the currency part of crypto currency is actually failing? Thoughts?

I think that people aren't even focusing on that part anymore, they are just focusing on the fluctuation part and forgetting to give cryptocurrencies a real value apart from the monetary one.

its falling now because bitcoin face a very bad time last few month.but as an investor i hope price will be increase very soon.please wait few days for good days.

Because of much fluctuation this can't be possible easily but still I used to keep hope on mind once I can pay every bill and can buy everything by bitcoin.

This process cannot happen quickly. Countries should carefully work out the draft laws and introduce cryptocurrencies into their legal field. And at the moment, a very large number of countries have not expressed their attitude towards cryptocurrencies. And, of course, high volatility is a serious obstacle.

I am using Bitcoin and Ethereum as a currency and it's working great for me.  I think when fiat begins to fail or if and when the central bankers pull the rug from the current system I believe crypto will be used as the sole currency.  No idea if it's Bitcoin, Ripple or some coin we have not seen yet.  This is all just allowed to be happening.  People usually die when they fuck with the central bankers money printing. 

Many big company like rolls royace, samsung,tesla willing to accept bitcoin as their payment method. And that's proof that it's not tottaly failed but need some time to be a common currency worldwide.

I would not say failing, because you can already buy most things directly with crypto, even though the number of such shops is still limited. But it is quite difficult with the currency function, why would somebody spend something for goods or services if he believes that the price of this something (crypto :)) will significantly grow in the future. Therefore fiat payments will be prefered by such believers, which is quite paradox, because it postpones the adoption of crypto and its practical usage in everyday life.

It fails and i would not consider crypto as a currency again because the volatility of crypto has been preventing it to be used as a currency and then it would never become an alternative way to replace the fiat or real currency because the volatility. So many merchants are rejecting or even ignoring to use crypto.

The matter whether it fails or not returns to you as an individual, not Bitcoin. You can pretty much use your Bitcoin as a means of payment right now (not as widely as one would like, but still). Remember, Bitcoin is decentralised—it has no authority to control or promote it. It is about adoption rate, and how likely merchants and businesses are willing to accept it. Bitcoin is still young, give another 10 years, then judge whether it failed or not. 

Nothing is falling. We r developing . Governments are against us but community will win the race and normal wide adoption will come in natural way because technology is there. Banks are the problems. Future is bright

It is not. Before a means of payment can be accepted a s a legal tender, it takes time. In this case, crypto is a means of transaction, which is digital and seem to be a form of threat to physical tender in terms of use. Also, cryptocurrency is beyond the control of any third party, therefore so many people,organizations and governments are looking for ways to ensure it does not succeed.

I have said in my other post, crypto specially bitcoin has changed a lot since its inception. When people (investors) started to see that crypto could be a making money scheme, most of their early vision or fundamentals where already lost. Specially when trading exchanges started to pop up, everyone gets onboard not because they wanted to use it a currency but to trade/invest and generate income. Maybe there are people who still uses it to buy online stuff or pay someone, but generally it has become sort of investment platform.

I am thinking about this there are part which is focusing fluctuating the price. The currency part is falling but it is not stable. It is not a problem actually crptocurrency gives a real value.

i also think so. No light of progress at all in present crypto markets. from the january of 2018 it is still low. Market analyzer predicting that from the beginning of 2019 , at least bitcoin will cope up with its price soaring up. You have to wait until it price increase.

Yes! i think so. The present price of crypto is so low, that is under expectation. This should not go any longer. There need a pump up right now.

The biggest thing that affects the currency part of cryptocurrency is the opinion that people have about the currency.  A currency is only deemed relevant when people agree and the value only comes up to what people think the value should be.  This is just the free market.  Is it failing?  Hardly.  Could it be better?  Oh yeah, no doubt.  What I see happening now is too many Chiefs and not enough Indians.  In other words, too many people want power and want to be in charge of their own coin project which dilutes the market with many projects that just don't have what it takes to succeed. 

There are a lot of people with real crypto assets in their possession that simply won't turn out to be worth anything. 

yes! i think. This year is the worst year for crypto price.It has started from the january falling down to %100 from its regular price.In recent month , though Bitcoin price has slightly raised but in other cryptos , no update.

I am slidely agree with you. But not tattaly crypto now useful for big transaction and payment but still we can't buy cup of coffee and such like this by cryptocurrency. It's can't be act like fiat because it's fluctuated.

Cryptocurrency on the way as currency by which people can buy anything and pay bill for their daily needs. But for contruct this crypto neccessarily spread out all over the world.

I think, nowadays, people are more concerned in making money with less labor. They aren't even paying attention to the market. Very few people are coming forward to make the market great again.

Unfortunately it is. Cryptocurrencies are not used to pay but to trade them on the stock exchange and make money. If this continues, I think people will lose interest in cryptocurrencies.

Well, the answer can be both no and yes. its true that cryptocurrency is facing a real suffering nowadays. But this doesn't mean it won't come back in normal again. After all, we always knew about the ups and downs.

Well, there are issues, like a big speculation, this is not new, but it's impressiveness only. However, in general this is no issue for me.

I think the cryptocurrency has its troublesome times. Like it has before. We can hope that the situations will become smoother again. People will be able to exchange with safety again.

We are missing an important part in all of this. As of now we have been focusing on the speculation in price and the money making, but the main thing for the cryptocurrency to live is the worldwide adoption. That's when the real value will come...

Other than bitcoin and some other coins, I don't know if you could call the rest of the sh*tcoins as currency :D, They are and were never a currency, They are not what you think. So I'd say that most of them are failing. They have been failing for a long time.