Bitcoin is no longer a currency

[raven7886]

I beg to differ because Bitcoin dies everything a fiat currency does and more. The blockchain technology behind Bitcoin facilitates payments even better and globally from the comfort of your home with all the privacy you crave. I don't see where it's no longer a currency? Is it because it has traits of a commodity?

You are right and there is indeed a proper system made to accept bitcoins as payment : Bitpay

Another reason why I consider bitcoins as a currency is because it's transparent, can be tracked, can be kept in a wallet and how can someone deny that bitcoins is not a currency ? I mean any valid argument regarding this statement ?

[1714262171]

1714262171

[HaXX0R1337]

I doubt that bitcoin is not a currency because if bitcoin is not currency then why we are able to spend our bitcoins in doing transactions or using it as an exchange for a particular item. Bitcoin is a currency and also investment/asset at the same time and there is no doubt that we considered it as a currency because it has a value and we can use it to do a lot of things including buying items online and even offline.

I am able to transact my asset in bonds if i want to and with the digital asset you are able to do it convincingly and that is the biggest difference and i would consider bitcoin to be a investment as well as an asset,any can set up a value if there are more buyers and the buyer has to shell out their money to purchase the coin

[Investforprofit]

I think that bitcoin is currency I mean cryptocurrency not only currency what means that bitcoin price is fast changing what is good for investing in bitcoin so I dont think that we can call bitcoin investment when cryptocurrency=investment.

[Lieldoryn]

I think that bitcoin is currency I mean cryptocurrency not only currency what means that bitcoin price is fast changing what is good for investing in bitcoin so I dont think that we can call bitcoin investment when cryptocurrency=investment.

It seems to me that the rapid change in prices can only scare off investors in bitcoin. Such jumps is dangerous. The price may increase and an equally fast fall.

[Gaaara]

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?

It never been a currency, bitcoin is like an investent where people do to get some income, and currency means a money people spend for every day use, and bitcoin can only be a currency if technologies are good enough to transfer bitcoin without any hussle, so the transaction will have no problem no more.

[Master1781]

I don't consider Bitcoin as a stock. For many reasons one good reason is that BItcoin is not a company, a company that pays dividends and rights. Also to be a stock you need to be publicly listed in Bitcoin's case it had created a new kind of exchange revolving cryptocurrencies and does not revolve around stock companies. Don't mix Bitcoin as a stock.

[coinplus]

I disagree with what Mathew O'brien said because bitcoin is a currency not a tech stock and this kind of a thing will happen just because bitcoin is not centralize or control by any government agency or organization. I guess this is the reason why the Texas law firm said no government should impede anyone of having bitcoin. If bitcoin is not a currency why would New Hampshire state house passed House Bill 436 which exempts bitcoin from costly money transmitter regulations?

Technically mate bitcoins is not a currency because a currency would be something that can be generated more and more on demand while bitcoins amount is fixed by satoshi and cannot be changed, bitcoins is rather more of an asset that is traded based on the demand and need of the market.

[jaysabi]

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?

Agree with this completely. Bitcoin doesn't satisfy the definition of a currency, and the part that is most lacking is a stable store of value. It's too volatile, which makes it fantastic for gamblers and speculators to trade in and out of it, but terrible for conducting commerce or using to store wealth, which are necessary for a currency to provide. I can get on board with calling it an investment, but it's clearly a speculative and high risk investment. Based on its characteristics, it cannot be more than that.

[crairezx20]

I disagree with what Mathew O'brien said because bitcoin is a currency not a tech stock and this kind of a thing will happen just because bitcoin is not centralize or control by any government agency or organization. I guess this is the reason why the Texas law firm said no government should impede anyone of having bitcoin. If bitcoin is not a currency why would New Hampshire state house passed House Bill 436 which exempts bitcoin from costly money transmitter regulations?

Technically mate bitcoins is not a currency because a currency would be something that can be generated more and more on demand while bitcoins amount is fixed by satoshi and cannot be changed, bitcoins is rather more of an asset that is traded based on the demand and need of the market.

I think yeah its not a currency but it is a crypto currency they are different breed of currency..  bitcoin is a crypto currency which is you use anonymously unlike a real currency that you can use it  with your real info or personal information here in online. .
Well i think its not a problem since bitcoin right now we can use it as currency since many website are accepting bitcoin as payment or exchange it into money.

[Hatuferu]

I disagree with what Mathew O'brien said because bitcoin is a currency not a tech stock and this kind of a thing will happen just because bitcoin is not centralize or control by any government agency or organization. I guess this is the reason why the Texas law firm said no government should impede anyone of having bitcoin. If bitcoin is not a currency why would New Hampshire state house passed House Bill 436 which exempts bitcoin from costly money transmitter regulations?

Technically mate bitcoins is not a currency because a currency would be something that can be generated more and more on demand while bitcoins amount is fixed by satoshi and cannot be changed, bitcoins is rather more of an asset that is traded based on the demand and need of the market.

I think yeah its not a currency but it is a crypto currency they are different breed of currency..  bitcoin is a crypto currency which is you use anonymously unlike a real currency that you can use it  with your real info or personal information here in online. .
Well i think its not a problem since bitcoin right now we can use it as currency since many website are accepting bitcoin as payment or exchange it into money.

In our own definition it's an online currency and it will be the most popular currency in the future. Bitcoin is very progressive as it's again rising coming from a big dump in the past few days. With this, it will continue to increase because we make it possible to happen.

[deisik]

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?

Agree with this completely. Bitcoin doesn't satisfy the definition of a currency, and the part that is most lacking is a stable store of value. It's too volatile, which makes it fantastic for gamblers and speculators to trade in and out of it, but terrible for conducting commerce or using to store wealth, which are necessary for a currency to provide. I can get on board with calling it an investment, but it's clearly a speculative and high risk investment. Based on its characteristics, it cannot be more than that

These are not Bitcoin inherent characteristics or features, by any means

Bitcoin is volatile precisely because it is not used in commerce, though this is sort of a vicious circle here. That is, Bitcoin is not used as a real currency because it is too volatile but it is too volatile because it is not used as a currency. Nonetheless, I still have to add that I don't agree that the most important feature of a currency (which Bitcoin allegedly lacks) is being a stable store of value. But let's assume that you are right (i.e. being a stable store of value is an important if not outright most important characteristic of a currency). In this very case, Bitcoin has everything in it to become such a store of value since its issuance is rigidly fixed, predetermined as well as known in advance to virtually everyone who cares, and there cannot possibly be more than 21M coins in the end. As you can easily conclude, volatility is not inherent to Bitcoin and thus it is necessarily caused by external factors which can change over time

[Harlot]

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?

Agree with this completely. Bitcoin doesn't satisfy the definition of a currency, and the part that is most lacking is a stable store of value. It's too volatile, which makes it fantastic for gamblers and speculators to trade in and out of it, but terrible for conducting commerce or using to store wealth, which are necessary for a currency to provide. I can get on board with calling it an investment, but it's clearly a speculative and high risk investment. Based on its characteristics, it cannot be more than that

These are not Bitcoin inherent characteristics or features, by any means

Bitcoin is volatile precisely because it is not used in commerce, though this is sort of a vicious circle here. That is, Bitcoin is not used as a real currency because it is too volatile but it is too volatile because it is not used as a currency. Nonetheless, I still have to add that I don't agree that the most important feature of a currency (which Bitcoin allegedly lacks) is being a stable store of value. But let's assume that you are right (i.e. being a stable store of value is an important if not outright most important characteristic of a currency). In this very case, Bitcoin has everything in it to become such a store of value since its issuance is rigidly fixed, predetermined as well as known in advance to virtually everyone who cares, and there cannot possibly be more than 21M coins in the end. As you can easily conclude, volatility is not inherent to Bitcoin and thus it is necessarily caused by external factors which can change over time

Like what I said Bitcoin cannot be considered as a stock it is not run by a company who has a CEO and Board of Directors. It is even funny to be naming it as the ultimate Tech Stock because it not even near the prices of Apple and Microsoft. What I am trying to say Bitcoin can be respected as a kind of currency but not a kind of stock.

[thunderbitz2717]

All around the world bitcoin is not yet known in the other country so far. Still majority of the nations now are not familiar with bitcoin, only in the country who accepted so much bitcoin. Most of the people in the whole world bitcoin was not a currency like a real money, but in some few countries like Australia, Japan, China, Europe and Russia bitcoin is a kind of currency. So meaning, this will depend on the understanding of indivduals.

[wuvdoll]

I doubt that bitcoin is not a currency because if bitcoin is not currency then why we are able to spend our bitcoins in doing transactions or using it as an exchange for a particular item. Bitcoin is a currency and also investment/asset at the same time and there is no doubt that we considered it as a currency because it has a value and we can use it to do a lot of things including buying items online and even offline.

Bitcoins is virtually a currency but all the guys that introduced me to bitcoins always call it asset. They always say that bitcoins is virtual gold that's price changes often when the market demand more.
But there are 25+ sites that I myself know who accept bitcoins as payment and there are big ones too like skrill and neteller !

[wxa7115]

I beg to differ because Bitcoin dies everything a fiat currency does and more. The blockchain technology behind Bitcoin facilitates payments even better and globally from the comfort of your home with all the privacy you crave. I don't see where it's no longer a currency? Is it because it has traits of a commodity?

I think the reason some may think bitcoin is dead as a currency strive from the fact, bitcoin cannot longer be used for small transactions since fees are getting pretty high and also because there are not many spots where we can use bitcoin as a currency instead of an investment.

[freedomno1]

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?

I agree with the statement, Bitcoin is an asset class with development around the blockchain and acts as a general means of trading being derivatives of the main product.

Alt-coins could be considered a part of Bitcoins asset class as the base currency used to measure other assets which is why a Hard Fork is a scary prospect because there would be no base index in the period between Bitcoin-A and Bitcoin-B to base price values upon.

The Atlantic article gets into the basis of that question with what is money, Bitcoin can be worth anything without a fundamental basis although the premise The more Bitcoin is worth, the more worthless it is as a currency, as a food for thought is an interesting one.

It can be both and yet one is still greater than the other one we view Bitcoin as asset class and yet also means of trading value but that is what makes it fun and is a fundamental reason for blocksize debate.

Is it more valuable as an index towards other coins or as a means of low friction transactions the community will decide that one in due time.

[carlerha]

I disagree with what Mathew O'brien said because bitcoin is a currency not a tech stock and this kind of a thing will happen just because bitcoin is not centralize or control by any government agency or organization. I guess this is the reason why the Texas law firm said no government should impede anyone of having bitcoin. If bitcoin is not a currency why would New Hampshire state house passed House Bill 436 which exempts bitcoin from costly money transmitter regulations?

Technically mate bitcoins is not a currency because a currency would be something that can be generated more and more on demand while bitcoins amount is fixed by satoshi and cannot be changed, bitcoins is rather more of an asset that is traded based on the demand and need of the market.

but i think bitcoin is a currency but the only difference is that bitcoin is a online currency. and very soon we are going to use bitcoin as fiat currency in our local shops.

[FlightyPouch]

I disagree with what Mathew O'brien said because bitcoin is a currency not a tech stock and this kind of a thing will happen just because bitcoin is not centralize or control by any government agency or organization. I guess this is the reason why the Texas law firm said no government should impede anyone of having bitcoin. If bitcoin is not a currency why would New Hampshire state house passed House Bill 436 which exempts bitcoin from costly money transmitter regulations?

Technically mate bitcoins is not a currency because a currency would be something that can be generated more and more on demand while bitcoins amount is fixed by satoshi and cannot be changed, bitcoins is rather more of an asset that is traded based on the demand and need of the market.

but i think bitcoin is a currency but the only difference is that bitcoin is a online currency. and very soon we are going to use bitcoin as fiat currency in our local shops.

It is a cryptocurrency which is loved by all, but the thing about cryptocurrency when they are not really known to their place, it became an asset. An asset that will be profitable after a long time, what's more is that it is treated as an asset because of its price that just overcome gold this month.
It is not use a cryptocurrency but an asset, well that's mostly bitcoin users do.

[randal9]

I disagree with what Mathew O'brien said because bitcoin is a currency not a tech stock and this kind of a thing will happen just because bitcoin is not centralize or control by any government agency or organization. I guess this is the reason why the Texas law firm said no government should impede anyone of having bitcoin. If bitcoin is not a currency why would New Hampshire state house passed House Bill 436 which exempts bitcoin from costly money transmitter regulations?

Technically mate bitcoins is not a currency because a currency would be something that can be generated more and more on demand while bitcoins amount is fixed by satoshi and cannot be changed, bitcoins is rather more of an asset that is traded based on the demand and need of the market.

but i think bitcoin is a currency but the only difference is that bitcoin is a online currency. and very soon we are going to use bitcoin as fiat currency in our local shops.

Good thing it is already happening nowadays, if you would have the chance to read news updates, blogs and article bitcoin is already using as mode of payment in any local shops especially online. The best thing is there are real estates now accepting bitcoin to buy a house.

[socks435]

I disagree with what Mathew O'brien said because bitcoin is a currency not a tech stock and this kind of a thing will happen just because bitcoin is not centralize or control by any government agency or organization. I guess this is the reason why the Texas law firm said no government should impede anyone of having bitcoin. If bitcoin is not a currency why would New Hampshire state house passed House Bill 436 which exempts bitcoin from costly money transmitter regulations?

Technically mate bitcoins is not a currency because a currency would be something that can be generated more and more on demand while bitcoins amount is fixed by satoshi and cannot be changed, bitcoins is rather more of an asset that is traded based on the demand and need of the market.

but i think bitcoin is a currency but the only difference is that bitcoin is a online currency. and very soon we are going to use bitcoin as fiat currency in our local shops.

It is a cryptocurrency which is loved by all, but the thing about cryptocurrency when they are not really known to their place, it became an asset. An asset that will be profitable after a long time, what's more is that it is treated as an asset because of its price that just overcome gold this month.
It is not use a cryptocurrency but an asset, well that's mostly bitcoin users do.

I think its already been on the list of cryptocurrency here https://en.wikipedia.org/wiki/List_of_cryptocurrencies
And i think we can be still consider it as currency not a  local currency but its a global currency that we can use anytime with internet..
But if we compare this currency to other local currency they are different due to fast price fluctuate..  and this coins is anonymous and you have a freedom where you spend it..