Bitcoin is no longer a currency

[Rinder]

Bitcoin for me is considered as currencie, asset and a payment processor all at the same time, the only thing is that bitcoin is a digital currencie because countries afraid the power bitcoin can reach if they recognize it.

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[carlerha]

Afaik we can say bitcoin is in both worlds of being a currency and stock
which could be seen from most bitcoin traders that treat it as stock literally and the rest using it as fiat( a currency ).

I couldn't agree more, Bitcoin is actually listed by the CFTC-commodities futures trading commission as a commodity hence it shows character traits of both currency and a commodity. People need to come to terms with this because it's a currency and a commodity at the same time

We shouldn't rely on what governments or government commissions say on this matter

After all, Bitcoin is considered as a currency in Europe but does it mean that it is another Bitcoin which is used there? Obviously, it is absolutely the same Bitcoin, everywhere around the world. Governments are treating Bitcoin as they think is best for them, some governments even choose to ignore it as if it didn't exist at all. In my opinion, Bitcoin is a financial asset (like bonds or stocks), first and foremost, then a currency (currencies are also financial assets), and only after that it could be considered as a commodity since it doesn't have direct use (like food or water)

to me i think it is currently it as assets, and we are using it as investment, but in i am hopeful that in future when the users of bitcoin will increase then it will using as currency. in fat it is depending on the users of bitcoin if the users will increase the then it will be using as currency in the world.

[rajasumi3]

Actually bitcoins are now being used by stock brookers and whale investors .by the next 3 decades it might so happen that most of the population will be using bitcoins to a whole new level and i guess it will the world s next currency.

[Ziskinberg]

Actually bitcoins are now being used by stock brookers and whale investors .by the next 3 decades it might so happen that most of the population will be using bitcoins to a whole new level and i guess it will the world s next currency.

If you mean more like the majority, I guess that is far from happening or will never gonna happen. It only attracts the investors and traders because it's getting popular now and as a result of increase of demand of bitcoin is the price increase. We all know we are getting profits when the price increase but it has a limitation and it will just only be payment system even in the future.

[megynacuna]

The fact that Bitcoin can be used for other things, shows other character traits, or its viewed differently by other people/governments doesn't make it less of a currency. It's still Bitcoin people, so where from this question "Bitcoin is no longer a currency"? Does being a bisexual render one inactive sexually???

[J Gambler]

I was confusing after reading about the article on the next 5 years that bitcoin already ended its value that it will be no longer a currency and theres something new comming that will change bitcoin into it. But how if theres an good oppurunity waiting for bitcoin isnt?

[The_prodigy]

If bitcoin will no longer a currency why stil lthere are people who keeps using bitcoin? To trade investment , and other thing like gambling bitcoin can be used to the features like it can be used to payment online.

[deisik]

Afaik we can say bitcoin is in both worlds of being a currency and stock
which could be seen from most bitcoin traders that treat it as stock literally and the rest using it as fiat( a currency ).

I couldn't agree more, Bitcoin is actually listed by the CFTC-commodities futures trading commission as a commodity hence it shows character traits of both currency and a commodity. People need to come to terms with this because it's a currency and a commodity at the same time

We shouldn't rely on what governments or government commissions say on this matter

After all, Bitcoin is considered as a currency in Europe but does it mean that it is another Bitcoin which is used there? Obviously, it is absolutely the same Bitcoin, everywhere around the world. Governments are treating Bitcoin as they think is best for them, some governments even choose to ignore it as if it didn't exist at all. In my opinion, Bitcoin is a financial asset (like bonds or stocks), first and foremost, then a currency (currencies are also financial assets), and only after that it could be considered as a commodity since it doesn't have direct use (like food or water)

to me i think it is currently it as assets, and we are using it as investment, but in i am hopeful that in future when the users of bitcoin will increase then it will using as currency. in fat it is depending on the users of bitcoin if the users will increase the then it will be using as currency in the world

I'm not sure of that, but it seems that Bitcoin adoption doesn't depend on its users as such. After almost 8 years of Bitcoin sticking around, I guess, we can already draw some conclusions both about the past that has been and the future that might be. As to me, Bitcoin as a payment system is perfectly usable (and with Lightning Network it will be on par with payment cards such as Visa and cronies), but it still didn't take off for real besides trading and gambling. I tend to think this is primarily due to irreconcilable antagonism between a store of value and a means of exchange...

In other words, Bitcoin is too good to be used as a full-fledged currency (just like gold vs silver in Medieval Europe)

[coinplus]

??Bitcoin will not be cryptocurrency is really weird article for me because bitcoin is still cryptocurrency and I think that it will be also later because I cant undestard why to value for pay something can become stock.

Title is a bit misleading as it should be -- Bitcoin is less usable as currency. Of course Bitcoin will always remain a currency solution if you wish to use it as such. But if you look at how Bitcoin is used by the majority of the people, then it's easy to assume that Bitcoin is more an investment option rather than a currency solution. I don't think anything is wrong with that as we are all free to choose what feature of Bitcoin we will be using.

I think for now we can not say that its not usable currency right now we are using it as currency and alternative payment unlike before i cant seen any site that actually accepting bitcoin as payment. right now many website are now accepting bitcoin and growing..
So we can not say that bitcoin is not usable.

Yes, I too think it is now possible for all the people of the world to use bitcoin as online currency, while even in some places it is use as fiat currency specially in such area where the users of bitcoin are more and where even the shopkeeper also know about bitcoin and therefore they can ready to accept bitcoin for shopping.

For time being people may use bitcoins similar to stocks but they will start using it as money when they see their corner shop accepting bitcoin for candy. Yes hitting main stream of adoption will change this scenario.

[raven7886]

I almost exclusively use bitcoins as a store of value so I definitely treat it more like a stock. There are a ton of people that don't on this forum though. It's the same with fiat, some people are savers and some are spenders.

Good for you, but it is not the same as with fiat, since central banks can print their national currency that means there is inflation so every single second your saved fiat losses some of its value, this is the opposite that happens with bitcoin, because bitcoin is a deflationary currency which earns a small value every second.

Yes, holding fiat means decreasing its value, while holding bitcoin mean increasing its value. We can see that what our local fiat value was in past and how much it is now changed, but if we compare the value of bitcoin so in 2009, bitcoin value was negligible but now its value is more that 1150 USD per bitcoin.

[Carlsen]

I almost exclusively use bitcoins as a store of value so I definitely treat it more like a stock. There are a ton of people that don't on this forum though. It's the same with fiat, some people are savers and some are spenders.

Good for you, but it is not the same as with fiat, since central banks can print their national currency that means there is inflation so every single second your saved fiat losses some of its value, this is the opposite that happens with bitcoin, because bitcoin is a deflationary currency which earns a small value every second.

Yes, holding fiat means decreasing its value, while holding bitcoin mean increasing its value. We can see that what our local fiat value was in past and how much it is now changed, but if we compare the value of bitcoin so in 2009, bitcoin value was negligible but now its value is more that 1150 USD per bitcoin.

But you always have to keep in mind that bitcoin price can swing both ways. Just remember 2013.
Of course fiat has a decrease in buying power, but it's a very slow one.
Bitcoin can lose it's value in the blink of an eye if the circumstances are unfortunate.

[numismatist]

...
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.
...

Slow progress, but proceeding. Maybe that article wasn't meant that straight into the face. Of course it's a currency, since people tend to use it like some currency! Facts fight fiction.

[talkbitcoin]

bitcoin is a currency and will always remain a currency because it has value and you can use it as such.
but being a good currency or not is the question here. so far bitcoin has been a good currency. it has been cheap, fast, safe, decentralized, and easy to use. these days it is becoming a little big more expensive but it still has all the other perks which you shouldn't ignore.

[1Referee]

If bitcoin will no longer a currency why stil lthere are people who keeps using bitcoin? To trade investment , and other thing like gambling bitcoin can be used to the features like it can be used to payment online.

These articles are purely titled this way to attract people to click on them. Bitcoin has plenty of interesting and useful features, which doesn't directly mean each feature is perfect, but at least it gets the job done. Especially when you look at the currency aspect of Bitcoin. Example; Bitcoin as currency is less interesting to use when it comes to you daily shoppings, but it's a perfect currency tool that you can use to transfer money from one place to another. It also depends on how you use Bitcoin. These articles are just pointed at gaining ad income, so take them with a grain of salt.

[BeGoods]

Bitcoin for me is considered as currencie, asset and a payment processor all at the same time, the only thing is that bitcoin is a digital currencie because countries afraid the power bitcoin can reach if they recognize it.

I think in fact you can buy stuff using bitcoin right ? and bitcoin itself has a lot of users and has a rate as real money in general. so I think bitcoin it is still currency

[buharikx31]

Everybody can use bitcoin like investment tool right now, but after if we find stable prices we would change the meaning of invest tool to normal currency as USD or EUR. Bitcoin can be used for transactions or tool to invest and earn more some fiat money.

[severaldetails]

Technically, every country decides whether bitcoin within its borders is a currency or something else.
Based on that defenition there are different laws and taxes in every country.
So no general explanation can be made.
But of course everybody can decide for himself in what way he wants to look at bitcoin.
To me it's more an investment that can be compared to a stock at the moment.

[Vorth]

How do you consider one thing as a currency?
So I guess for me, bitcoin is a currency which is a virtual money that we use to trade to some other bitcoin enthusiasts or users, we exchange bitcoin with the service that others render to us or the items we purchased inside the computer and so in real life if you met a user locally or in your own town. Currency is a generally accepted for of money where in we can consider bitcoin as it is, since we the users of bitcoin accepted it as a virtual money. We can invest, buy, purchase, pay using this bitcoin.

[valta4065]

Hmmm
Technically btc has never been a currency
It's like every "coin" like ethereum too for example
It's a token linked to the blockchain technology
but the consequence is that... You can exchange this token considering it has a certain value... So it's like it's a currency ^^

[digaran]

Bitcoin is the fattest cash cow ever existed, call it whatever you want, important thing about it is being solid as a rock throughout the time.
You need to think about it's future not as a thing but as a concept.