Bitcoin is no longer a currency

[Barrymore]

It seems to me that bitcoin is an attempt to create currency to earnings and calculations on the Internet. Old people never see because they are far from the Internet. And the youth will support it only when the Internet will exist enough jobs with high enough wages in bitcoin. While it is not.

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[markyminer]

I am agree on it, mostly people not accept that bitcoin is a currency, because people are using bitcoin for gain profit. So i think it doesn't matter bitcoin is a currency or not, because bitcoin give us a easy way to make money.

but you can also use it as a currency, and you can make money with USD market too, never heard of forex man? bitcoin is no different, bitcoin is both like gold and like a currency, this is the beauty of bitcoin

yes bitcoin can be use for multi purposes. it can be use for investment, bitcoin can also be use for trading and it can also be use as currency both for online and off line purposes.

[X-ray]

I am agree on it, mostly people not accept that bitcoin is a currency, because people are using bitcoin for gain profit. So i think it doesn't matter bitcoin is a currency or not, because bitcoin give us a easy way to make money.

but you can also use it as a currency, and you can make money with USD market too, never heard of forex man? bitcoin is no different, bitcoin is both like gold and like a currency, this is the beauty of bitcoin

Bitcoin was having a lot of the advantages, But mostly person is using it for taking more profit. In fact bitcoin still also has used by a lot of the people to fill his daily life.
Really the beauty of bitcoin.

[wxa7115]

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

Bitcoin currency performs some function, but officially it is not a currency. Just all we used to call him that. I am sure that Bitcoin is more than a currency and payment system

And I think that any product which can be exchanged for money is a form of currency. No matter recognize it as a means of payment or not.

Not everything that can be exchanged for money is a form of money, money have some very specific characteristics that only some substances have, it needs to be an unit of account, fungible, a store of value, it needs to be resistant and more characteristics.

[suredoood]

Well there are some people that try to buy and sell it to make money, which helps the Bitcoin economy. Then at the same time there are other using it as a currency, buying and selling goods and services, which also helps the Bitcoin economy. In the end I think it's all great and helps all of us grow!

[virasisog]

Actually bitcoins is more than a currency ,Its has all over use within online transactions everyday bitcoin mainstream has begun we don't know how big companies to a research for improving and adopting bitcoins as their use . Perhaps bitcoins is more on medium of exchange now as many people make transactions everyday , Bitcoins has many aspects and it depends on how people use this .

[SvenBomvolen]

Actually bitcoins is more than a currency ,Its has all over use within online transactions everyday bitcoin mainstream has begun we don't know how big companies to a research for improving and adopting bitcoins as their use . Perhaps bitcoins is more on medium of exchange now as many people make transactions everyday , Bitcoins has many aspects and it depends on how people use this .

Bitcoin doesn't become mainstream yet, but it has all chances to become. I think this year is going to be the best year in bitcoin's history, it will appear many places which will work with bitcoin directly and that will only increase it's popularity. Bitcoin is currency and that things that are going to happen with it this year only will concrete this status of bitcoin.

[Schuyler]

I use it both as currency and investment, but only for small transactions. Until such time that more people around the world becomes familiarized with bitcoin, then it will be easier to use it as a currency where there will be more merchants to accept it in every part of the world.

[Pattart]

It seems to me that bitcoin is an attempt to create currency to earnings and calculations on the Internet. Old people never see because they are far from the Internet. And the youth will support it only when the Internet will exist enough jobs with high enough wages in bitcoin. While it is not.

and young people will grow old. then the next generation will continue. forever is the currency bitcoin. because bitcoin is created for it, as a cryptocurrency and can be used to buy a like currency

[buharikx31]

Unfortunately, bitcoin now is a currency the same as dollar, euro and other fiat money. A lot of countries dont even have there own digital version of currencies and that's why people are so disapointed with bitcoin and they think it's not more then a digital code, but if look right now how much people can do with bitcoin for example pay for bills, purchase on internet, buy tickets . We can see that this digital currencies are more easier method of payment then fiat money, we can do more things with bitcoins, more faster and for less time

[1Referee]

I use it both as currency and investment, but only for small transactions. Until such time that more people around the world becomes familiarized with bitcoin, then it will be easier to use it as a currency where there will be more merchants to accept it in every part of the world.

People knowing Bitcoin is just one aspect of the many. If you want to see people embrace Bitcoin as currency, you must realize that Bitcoin has to offer a better payment experience than what fiat is offering. Fiat expands its usability through all sorts of payment services, where these services allow people to enjoy all sorts of privileges (e.g. insurance on everything you buy, charge backs, etc). Bitcoin must perform significantly better (in currency aspect) will people ever want to prefer Bitcoin over the fiat related services they make use of.

[lionheart78]

It seems to me that bitcoin is an attempt to create currency to earnings and calculations on the Internet. Old people never see because they are far from the Internet. And the youth will support it only when the Internet will exist enough jobs with high enough wages in bitcoin. While it is not.

As far as I know, Bitcoin is created to get away from the grasp of financial institution.  The reason of it being decentralized and not ruled by any country.  And I think it is the young adult to middle aged people that are the first one to adopt Bitcoin. But I think the core team were at middle adult range.  So basically old people are the first one to know Bitcoin.  Never think that adult people does not know how to use an internet, remember internet is around for several decades now.  They know how to use it before you do.

[jossiel]

I use it both as currency and investment, but only for small transactions. Until such time that more people around the world becomes familiarized with bitcoin, then it will be easier to use it as a currency where there will be more merchants to accept it in every part of the world.

I'm using it for both things too. And I don't get it why there are people that are keep on saying opposite things about bitcoin now.

They keep on telling the opposite situation and success of bitcoin right now and for the past years.

And I'm glad that I'm experiencing the features of bitcoin and keep on using it as a currency for real like paying bills.

[bcmine]

bitcoin is a cryptographic code in a database with timestamped entries.  the function for bitcoins is changing and will change. you can use it for short datastorage, as a currency, as an asset, as an smartcontract etc. it depend on the eco system development what is going to be possible ...

[deisik]

I use it both as currency and investment, but only for small transactions. Until such time that more people around the world becomes familiarized with bitcoin, then it will be easier to use it as a currency where there will be more merchants to accept it in every part of the world.

People knowing Bitcoin is just one aspect of the many. If you want to see people embrace Bitcoin as currency, you must realize that Bitcoin has to offer a better payment experience than what fiat is offering. Fiat expands its usability through all sorts of payment services, where these services allow people to enjoy all sorts of privileges (e.g. insurance on everything you buy, charge backs, etc). Bitcoin must perform significantly better (in currency aspect) will people ever want to prefer Bitcoin over the fiat related services they make use of

Honestly, I'm more inclined to think that these are in fact minor issues

Indeed, it would be better if transactions were faster (or still better if they were just instant) but ten minutes is still a pretty close approximation to perfection (fiat transfers are nowhere near instant either). As to me, a heavily inflating currency would still be by far inferior to a rock-solid Bitcoin even if the former were outperforming the latter in every aspect of usability. Because no matter what number you multiply by null, you will still end up with only null. Consequently, it is more important for Bitcoin to become stable than to become (more) usable. But that is a preferred choice which we basically lack, i.e. we are stuck with Bitcoin volatility and therefore this competition is a losing game, anyway (if we reverse this approach)

[olushakes]

https://www.theatlantic.com/business/archive/2013/04/bitcoin-is-no-longer-a-currency/274859/

An article from The Atlantic magazine - from 2013, way back in 2013 - declaring that bitcoin is not a currency, but "the ultimate tech stock"!

The four years since the article was written has proven that bitcoin is akin to an Amazon or Facebook (stock, not company), and much less "Pets.com". That's a good thing.

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.

What do you think?

There is actually a thin line in separating the two when it comes to the issue of bitcoin. If it were to be gold, I would have agreed perfectly but not for bitcoin because it equally works as a medium of exchange, at the same time as a store of value. On this forum, we have people earn bitcoin for services rendered at the same time some people prefer to buy and hold in other to make more money. At the same time, when they are ready to sell, they sell to those who will be ready to use it to pay for services and the cycle continues.

[markyminer]

I am agree on it, mostly people not accept that bitcoin is a currency, because people are using bitcoin for gain profit. So i think it doesn't matter bitcoin is a currency or not, because bitcoin give us a easy way to make money.

but you can also use it as a currency, and you can make money with USD market too, never heard of forex man? bitcoin is no different, bitcoin is both like gold and like a currency, this is the beauty of bitcoin

i think that there is no doubt that bitcoin is a currency and it will remain as currency in future also. i think in future the use of bitcoin as currency will be more and more, because the number of shops who are accepting bitcoin is increasing too much.

[markyminer]

I am agree on it, mostly people not accept that bitcoin is a currency, because people are using bitcoin for gain profit. So i think it doesn't matter bitcoin is a currency or not, because bitcoin give us a easy way to make money.

but you can also use it as a currency, and you can make money with USD market too, never heard of forex man? bitcoin is no different, bitcoin is both like gold and like a currency, this is the beauty of bitcoin

yes that is right that bitcoin can be use as currency as both options for online as well as for fiat, in some place where the users of bitcoin are more and where the shopkeepers also know about the importance of bitcoin and they know about the importance of bitcoin then people have opportunities there to use bitcoin.

[royalfestus]

The article is not technically incorrect and we can certainly say bitcoin as a tech stock which gives us a very good investment opportunity even in the global economic slowdown. Bitcoin is first of its kind currency which can be generated from a computer program. So bitcoin doesn't have any inherited value. The value it has, it is based on public trust only.

Since people are investing heavily in bitcoin, it is getting so much attention and the market cap is increasing like rocket keeping the price also higher than any other currency. So I personally prefer to invest in bitcoin than to spend it for silly reasons. So it can be taken as an investment instead of currency.

I like to ask if any currency had ever been invested into before, It seems not to be property of a known currency. I stand to be corrected.

[Aleister Crowley]

bitcoin is a cryptographic code in a database with timestamped entries.  the function for bitcoins is changing and will change. you can use it for short datastorage, as a currency, as an asset, as an smartcontract etc. it depend on the eco system development what is going to be possible ...

Completely agree with you , i have seen a lot of people put their marriage messages in the bitcoin blockchain.

It would become more popular in the future , depends on what you need as long as it's related to cryptograph bitcoin could be used as anything!

But people start concern about the high price and recently they see it as an opportunity to make money as investment , the function as digital money would always there exist.