Bitcoin is no longer a currency

[jualidbitmixer]

Yeah, i was realizing if the bitcoin it looks like the company's share. Although bitcoin it's like the massive currency but i like to hold them because it's like i holding the company's share. the value is always increase based on his adoption and demand.

Holding them in a long term was really a good methods that we need to do it now. So it is impossible that bitcoin now is not a currency, especially the the price value now was 4200$ which shows that it is a currency that can be use in many ways.

Bitcoin is like an investment though. I'm sure many people look at bitcoin because the price of bitcoin increasing day by day, especially right now. Actually bitcoin is still currency because many people still using it for a payment, trading, gambling, buying/selling and many else. It's like a real money.

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[Sled]

Yeah, i was realizing if the bitcoin it looks like the company's share. Although bitcoin it's like the massive currency but i like to hold them because it's like i holding the company's share. the value is always increase based on his adoption and demand.

Holding them in a long term was really a good methods that we need to do it now. So it is impossible that bitcoin now is not a currency, especially the the price value now was 4200$ which shows that it is a currency that can be use in many ways.

Bitcoin is like an investment though. I'm sure many people look at bitcoin because the price of bitcoin increasing day by day, especially right now. Actually bitcoin is still currency because many people still using it for a payment, trading, gambling, buying/selling and many else. It's like a real money.

Overall, bitcoin is a tool because it can be a money or currency and it can be also an investment which can provide as an asset which gives profits to our pocket and enjoy the life of having an asset for long term. Bitcoin is always a tool and it will not have an exact description because bitcoin is suited for the needs of an investor and also for an average person who will treat it as a money.

[kpcian]

I completely agree with this point.
since it has been added double or treble price value so that it has been considered as a saving and investment purpose. day by day Bitcoin is becoming a profitable platform and people are making a profit through this system. usually, people prefer to use the most profitable and accepted system. day by day Bitcoin is becoming an accepted platform whole around the world. so it is considered a business platform rather than a currency.

[Theb]

What? Are you making a fool out of yourselves? Bitcoin cannot be the "ultimate tech stock" or even be counted as a stock. A stock is some kind of share of a company, Bitcoin on the other hand is not a company but a currency. Also shares of stocks issues dividends frequently which we don't see on Bitcoin and yes Bitcoin Cash is not counted as a dividend because it is a one time thing and is also counted as an Altcoin. Yes Bitcoin can be counted as an investment but will never be counted as a stock in my own personal view.

[kdrama]

no it is still a currency what defines a currency it is the money that used many people in buying things in life the one that they use is currency right, currency is not like hard money it can also virtual currency and that is bitcoin.

[deisik]

What? Are you making a fool out of yourselves? Bitcoin cannot be the "ultimate tech stock" or even be counted as a stock. A stock is some kind of share of a company, Bitcoin on the other hand is not a company but a currency. Also shares of stocks issues dividends frequently which we don't see on Bitcoin and yes Bitcoin Cash is not counted as a dividend because it is a one time thing and is also counted as an Altcoin. Yes Bitcoin can be counted as an investment but will never be counted as a stock in my own personal view

Technically, in a narrow sense of the word, you are right

Bitcoin is not a stock, but conceptually you can think of money (I refer to fiat currencies here, say, the US dollar) as a stock of a whole nation. By acquiring some dollars (or whatever), you receive a right to claim some part of the wealth that the nation created. Indeed, fiat currencies don't pay dividends, in fact, they even lose value over time due to inflation, but not all companies are growing either (some even go bust just like some currencies, say, the proverbial Zimbabwean dollar, hyperinflate and die off eventually). And the loss of purchasing power can be offset by acquiring more of the money "stock"

[bncbnc]

no it is still a currency what defines a currency it is the money that used many people in buying things in life the one that they use is currency right, currency is not like hard money it can also virtual currency and that is bitcoin.

bitcoin is created on the name of currency and therefore i can say that bitcoin is still a currency and will remain as currency for ever. in fact some people are already using bitcoin as currency, even in some place people are using in locals shops therefore no doubt that bitcoin is a currency.

[stadus]

That's true, bitcoin looks like an  asset or share that we have and it keeps increasing it's value when everything is going great, and if there is some problem the price just decreases. We can compare it to a company who is developing quite well now

You may be right, but then what this company produces? Where will the money for its existence? Any investment should stimulate the production. Now bitcoin is more like a pyramid in which people are constantly investing money with the goal of getting rich.

Yes, bitcoin is not a currency because it belongs to no particular country. But, it can be a currency (digital) in its own way, as users may call it. I support the idea that it’s “the ultimate tech stock”, and one with the highest value.

It's supported by any currency as there is no restriction whatever legal currency you have as long as one who trades
his bitcoin will accept your money. It gives us freedom and no country discrimination as we can do transaction anytime we what
for whatever purpose we like.

[Bagaji]

Popularization of digital currency can be achieved if bitcoin is not used as a currency. Although it has the same feature of shares and commodities like gold but the truth remains if bitcoin was not to be used as a currency the circulation and acceptance would have decrease significantly as compared to what it is now.

[rjbtc2017]

I agree on some but it still depends on the users' perspectives. as For me i can call this as an investment and also a currency. It is risky to have bitcoin as a currency because of it's volatility, and as a crypto-digital currency it can be used for some of the shops online that accepts bitcoin. I just hope, there is a standardized description on bitcoin, whether it a stock/investment or a currency.

[Uberzugzug]

I have to agree with this. Even though Bitcoin has it's own fluctuating rates, it is still far incomparable with the currencies of each country has. Because if you look at it, it is just there for the sake to have a "Digital Currency". But the real use of it is as an investment that goes up and down, like stocks. Therefore, in my opinion, it is better to describe it as an investment similar with stocks. 

[kpcian]

Yes, Bitcoin is no more a currency at all. day by day it has been considered as a profitable business sector. though Bitcoin has some uncertain price value it has produced on an average 300% price. for me, it is as like as share market. day by day it is becoming a popular currency at the whole around the world. I think Bitcoin is using for the purpose of saving and investment rather than any other purpose so that Bitcoin can be considered not only a currency but also something special.

[Carlsen]

I am really wondering what is going to happen when bitcoin is no longer used as payment.
What will happen to companies like bitpay?
And will the shops stop accepting bitcoin when nobody uses it?
How would such a scenarios influence the price of bitcoin?

[vit05]

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.

[PedroLinh]

Although bitcoin is decentralized, uncensorable and distributed in nature, it is not anonymous. In fact, the decentralized and open ledger of bitcoin allows anyone within the network to transparently access transactions through blockchain explorer platforms.
It is important to acknowledge that bitcoin has significantly evolved since 2010, back when the cryptocurrency’s main use case was to finance ransomware distributors and online criminals. Bitcoin has become a safe haven asset and currency for large-scale institutional, retail and professional investors, as well as casual users across the globe.

[franco123]

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?

Yes I get your point that it is more of an investment now instead of a currency. But that does not make it a stock. It it may not be a typical or regular currency but it is still a cryptocurrency or easier to be considerd as digital currency.

You have to remember that although Bitcoin is being used more of as an investment rather than for transactions, the regular or fiat currencies are also for investments. Anything witu volatile rates can be an investment and actually forex trading is more volatile and risky than stock trading.

[tobs]

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.

[Superways]

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.

[Gotottack]

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. What is happening right now is not really what satoshi intended to do with bitcoins. Generally what he wanted is that it should be used similar to how we use fiat today. So that means, we should be trading bitcoins to pay each other off and not really invest hold and buy low and sell high and all that trading non-sense.

[chineseprancing]

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.