BTC is not used for what is meant to be, possible Crash

[donbu7]

I am worry about that BTC is not being used for the porpouse of is creation, that is being used as a currency, instead is being used as an investment, and is going to crash if is just saved and not used, so the BTC will crash to zero very soon if that does´t change soon.

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[gambleroflife]

I agree with you. It has to be used. Yet, it is being used already. People buy/sell things. I know it is not equal to the volume, but improving everyday. Especially if there is a prohibition about an item then that item is traded via bitcoin in general.

Big brokers and companies investing in it. I don't see a real danger in short term. Long term, if we want to BTC international currency then we have to sell more via BTC.

[gentlemand]

Genuine use as a currency, not just the tiptoeing around the peripherals we're seeing now, comes after everything else has been thrashed out. First it needs to be established as a store of value and that comes after a fevered speculative phase.

Having said that when deflation kicks in properly then there'll be even less incentive to spend it than before.

[jc89]

I am worry about that BTC is not being used for the porpouse of is creation, that is being used as a currency, instead is being used as an investment, and is going to crash if is just saved and not used, so the BTC will crash to zero very soon if that does´t change soon.

I don't know but I have to disagree. If Bitcoin is used in a daily basis just like a typical currency/fiat, would you think that the price of bitcoin will reach the price just like $2000+? No. People treating bitcoin as investment is the reason why we are experiencing this sky high bitcoin price. They hold their btc which adds to the scarcity of bitcoin in the market. Thus, decreasing supply vs. increasing demand leads to what we are seeing today in the price of bitcoin.

[U2]

This is so fucking stupid it's laughable. So if I put $1000 into a savings account and NEVER touch it is it also going to crash? You keep on living paycheque to paycheque while I load up on money that's constantly rising in price. See you in 10 years when I own your condo complex hahaha. Maybe I'll give you a 3% discount on a flat.

[leowonderful]

I use BTC as currency plenty of the time. I also hold. That being said, if anybody is panicking about the current drop, it's a correction and we've been expecting one for a while. You don't jump hundreds of dollars without a correction. In fact, the value of Bitcoin is artificially scarce and due to this holders and users together create the price. Holding helps keep the price up. Even if this were not true, other coins are even lesser used as currency. At least we have services to purchase from big sites and some sites like Newegg even accept Bitcoin. Can't be said for other coins.

[noone000]

I am worry about that BTC is not being used for the porpouse of is creation, that is being used as a currency, instead is being used as an investment, and is going to crash if is just saved and not used, so the BTC will crash to zero very soon if that does´t change soon.

I don't think there is anything wrong with people saving currency, and I doubt this will make the bitcoins crash. I know that there are already many people that use BTC to make daily purchases and etc, but I also do not think there is anything wrong with people saving their bitcoins and treating it as a stock. People often do this with other international currencies, such as when one invests their money in an appreciating currency.

[Wind_FURY]

I am worry about that BTC is not being used for the porpouse of is creation, that is being used as a currency, instead is being used as an investment, and is going to crash if is just saved and not used, so the BTC will crash to zero very soon if that does´t change soon.

This is a very simplistic view of where Bitcoin gets its value from. Have you not considered that the reason why Bitcoin is at $2000 is also mostly because of speculation?

[Pursuer]

I am worry about that BTC is not being used for the porpouse of is creation, that is being used as a currency, instead is being used as an investment, and is going to crash if is just saved and not used, so the BTC will crash to zero very soon if that does´t change soon.

being used as a currency is like the boost bitcoin can get to reach much higher prices such as $5000+ and stay there not just reach and come back. but if it weren't used for anything other than being an investment the adoption and rise will encounter some problems, some slow downs, but it won't crash. people are still going to invest in it and price will rise and stay up in the long term.

and remember bitcoin is still being used as a currency whether you see it or not!

[Pearls Before Swine]

I agree with you. It has to be used. Yet, it is being used already. People buy/sell things. I know it is not equal to the volume, but improving everyday. Especially if there is a prohibition about an item then that item is traded via bitcoin in general.

Big brokers and companies investing in it. I don't see a real danger in short term. Long term, if we want to BTC international currency then we have to sell more via BTC.

It absolutely doesn't need to be used as a currency to be a success,  and its current price proves that.  People don't buy things with it much and yet...we're over $2100.  That speaks for itself.

On an unrelated note,  OP goes on ignore for butchering the english language and voicing ridiculous fears that others have voiced in the past.

[sinner]

even if its somewhat true, its true for every alt to a much higher degree.. so whatever.

[Junko]

I don't get why people why people are so concerned with what other people do with their own personal bitcoins (or any money for that matter). Bitcoin doesn't care what people do with it. I certainly don't care what other people do or don't do with their bitcoin/money. Why worry over something you have no say or control over? Just take care of your own shit and let other people worry about theirs. If bitcoins crashes, it crashes.

[Idrisu]

I am worry about that BTC is not being used for the porpouse of is creation, that is being used as a currency, instead is being used as an investment, and is going to crash if is just saved and not used, so the BTC will crash to zero very soon if that does´t change soon.

Bitcoin might not be used as currency now but that do not mean bitcoin has lost it values of what it was created to be. Fiat has been existing for many years and generation and because of this any other options will not be appreciated as a mode of payment and serve as a medium of exchange of goods and services. Bitcoin will take it place very soon as many countries, companies and individuals accept and adopt it.

[bitcoindusts]

I am worry about that BTC is not being used for the porpouse of is creation, that is being used as a currency, instead is being used as an investment, and is going to crash if is just saved and not used, so the BTC will crash to zero very soon if that does´t change soon.

I still think it can do its purpose of creation, this increase in price is the adoption of people and the new found use of Bitcoin.  Being a store of value, why would it crash when it can perform its purpose, beside, people decided to make it a store of value and that is one of the reason why price keep on increasing.

[kehtolo]

It's BEST use at the moment is a store of value.

Can also be used as a currency if you want to buy things with it.. and people do. I believe however that it's store of value function is at this moment, it's best characteristic.

[iqlimasyadiqa]

Bitcoin is used as an investment and financial means of payment. With that I believe bitcoin can survive and continue to be used for a very long time. This is the new era of a financial system in the world, we just wait until bitcoin can be a system that is easily accessible to all people from around the world.

[Herbert2020]

I am worry about that BTC is not being used for the porpouse of is creation, that is being used as a currency,

it actually is also being used as a currency, you just haven't been looking!
do some research, find how many online and offline places are actually accepting bitcoin as payment. and you don't need to even look far. just google where to spend bitcoin and you'll find lists of thousands of places that you can spend it and people do spend it.

you can also look at this: https://bitcointalk.org/index.php?topic=1895526.msg18819433#msg18819433

instead is being used as an investment,

it has always been like this, bitcoin has always been used as BOTH investment and a currency!

and is going to crash if is just saved and not used, so the BTC will crash to zero very soon if that does´t change soon.

why?!!
people are saving up gold, stocks, and all kinds of shit and never spend them. you don't go to a coffee shop and pay for your coffee with a piece of stock and yet their prices are going up!

if anything bitcoin will rise even more, since it has both attributes and will always have it.

[KennyR]

When something gets multipurpose usage the circulation of bitcoin increases than just being used as a currency. Though it was meant as a storage token gradually the usage varied and people showed interest on it as an investment. Recently due to increased transaction fee bitcoin is used much on large volume transactions rather than small amounts. For this reason I don't think bitcoin will be crashing.

[Denker]

I am worry about that BTC is not being used for the porpouse of is creation, that is being used as a currency, instead is being used as an investment, and is going to crash if is just saved and not used, so the BTC will crash to zero very soon if that does´t change soon.

What are you talking about?!
Bitcoin is what you use it for! For some it's an object of speculation. For others it's a platform they can build their own businesses on.
And to achieve a global currency status the use as an investment has to come first. With it's actual volatility Bitcoin is for away from getting used as a currency on a daily basis. In 10-20 years we may get there when we have found a stable price, probably in the tens of thousands USD or even higher.
For now it's the store if value and the huge potential of an increasing investment what sucks people into Bitcoin.

[1Referee]

Bitcoin is what you use it for! For some it's an object of speculation. For others it's a platform they can build their own businesses on.

Basically that. Bitcoin is whatever you want it to be. It's getting annoying with all these people that think Bitcoin isn't meant to be used for this or that purpose - mind your own business!!

and is going to crash if is just saved and not used, so the BTC will crash to zero very soon if that does´t change soon.

Hello noob. People saving/holding their coins, heavily contribute towards a higher price as they make sure that there are less coins in circulation. More respect to the holders, please... Don't forget that in current times, merchants make use of third party payment processors - which means that the coins people spend, will eventually get dumped on the market. In other words, more people spending, will result in more pressure on the market.