Bitcoin is no longer a currency

[Hotel_Prodeo]

Can be said bitcoin is a commodity, if the currency of course there must be a country or a certain party who can control the full bitcoin as happened with regular money which is fully controlled by the central bank.

[Pejoh Asu]

What is the difference between currency and bitcoin? I think it makes no difference so that it can be said bitcoin is money because what can be done with money can also be done with bitcoin, but from the other side bitcoin is better because the price is increasing.

[Potato Chips]

Bitcoin is an investment. A stock or an asset class/commodity can be debated, although it doesn't much matter. Bitcoin is a store of value not a medium of exchange.

I agree, but it's the fault of the people who bought it seeking profits and not real usages. I mean, I'm not sure if it's a "fault", but having a virtual "thing" that has actually no usage other then people speculating on the exchanges is a very risky situation. There is no real demand for bitcoin, as for something to be used for anonymously made transactions, there is that fake demand for bitcoin, because it is still raising and by buying it you can expect some profits. The sole fact, that so many people on that forum post constantly only about holding it and waiting as it's price will grow is very harming for bitcoin as a currency. Because what is the point of a currency, that no one wants to use? People seems like they are afraid to pay in bitcoin, because it may be worth more in the future, so they only keep it.

The basic use of bitcoin is forgotten by everyone, everyone is using it for sake of making money and no one is using it as money it is confined to be known as investment rather than digital form of money and this is alarming situation satoshi didn’t created it for making profit he makes it for the user reliability one can use it everywhere he goes but here story is different it is money making business now.

But it is not actually currency, that is the problem. Since people are still trying to figure out what bitcoins are, it is still unclear how it should actually be used. Most of the time people are just buying bitcoins for purposes of speculative investments.

It's hard to predict the movement of bitcoin, but I know that this coin will be run as currencies. In terms of exchange in any side of crypto currency world, bitcoin was always used and I believe that in the end bitcoin will still considered as currency in digital world.

a currency is a generally accepted medium of exchange, in my opinion bitcoin meets that criteria although a it is also said that a currency should be backed by a government. Many countries are regulating bitcoin although they don't show their support on it except Japan who has fully accepted bitcoin and is currently testing it. So the conclusion is for now its in between a currency and not

[chickenado]

What is the difference between currency and bitcoin? I think it makes no difference so that it can be said bitcoin is money because what can be done with money can also be done with bitcoin, but from the other side bitcoin is better because the price is increasing.

I guess there's no such big difference between the two but these two are important in our daily living now. Why? Because with these two how can we survive without money in our pocket. At first I could say that bitcoin is a currency at the same time because it has a total package of currencies involved so we should be confused of these two for they are both profitable and useful in the world of cryptocurrency. But we can't say that bitcoin is no longer a currency it is still and don't change that.

[Dannaey]

For me Bitcoin is not yet a currency. Government will decide or the Federal reserve I think that will decide on what will be the acceptable currency. Though the purpose of Bitcoin is to become the first digital currency, but what it is right now is an asset like a commodity.

[7788bitcoin]

I have to agree with them. Every week that passes without a new company in any local metropolitan area deciding to accept bitcoin as currency is a two weeks further away from bitcoin actually being adopted, mainstream, as a currency.

Bitcoin is an investment. A stock or an asset class/commodity can be debated, although it doesn't much matter. Bitcoin is a store of value not a medium of exchange.

The concept of bitcoin has changed a lot from the initial stages as it was meant to be a currency with literally zero transaction charges but things have changed considerably from it and now it is a store of value rather than a currency that can the transferred easily at a cheap rate.With the implementation of lightening networks i think we will get back to normal.

[Aya1]

not pounds or euro, currency Internet again rampant.
Previously, CEO of Bitcoin explains bitcoin like a digital gold offering two options as an investment and payment tool. However, this bitcoin is not exactly said to be a means of payment. That's because people have not been able to accept bitcoin as payment and unstable.

He explains, the tendency of bitcoin exchange rate is stronger than down. That's because the amount of bitcoin is limited. Total circulation in global, bitcoin only 12.2 million. When looking at the exchange rate in Bitcoin, the buys of coin rate reached 10,682,100 and the selling rate is 9,571,000.

[CHENIEN]

For me bitcoin shall we called a currency also because it can be convertible to cash paper or money. Bitcoin is now a secondary medium of exchange.  But im wondering of some reasons behind that bitcoin is now no longer a currency. Being a new of these  industry ive been doubt of what is really the thruth ot this. But thinking possitively bitcoin is an asset that helps finacial needs.

[CHENIEN]

For me bitcoin is a negotiable instrument that access by  many people which the real purpose is to earn money. It is a profitable instrument also which somebody invested their money which the outcome is to gain more compare to any kind of businesses.

[A Feeder]

I agree with you. I realize that bitcoin is a very useful asset or techno stock that a businessman needs. The daily improvement of technology leads to the daily increase in demand in bitcoin.

[Granxis]

I think Bitcoin is not a currency but a payment instrument like Paypal and Western Union. So Bitcoin can be transferred with blockchain technology. Bitcoin is not a fiat currency but a digital payment system.

[CharlesB2]

I think Bitcoin is not a currency but a payment instrument like Paypal and Western Union. So Bitcoin can be transferred with blockchain technology. Bitcoin is not a fiat currency but a digital payment system.

Much more a store of value in theory and a highly speculative asset in practice right now i guess. As transaction methods lighter currencies as lumen or even litecoin are more practical.

[nagatraju]

I didn't use bitcoin as a currency, so it was never a currency for me, but was a valuable asset