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Author Topic: investment mode of btc is best or currency mode???  (Read 921 times)
usam_coiner
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November 19, 2017, 04:37:33 PM
 #1

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,
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November 19, 2017, 04:49:48 PM
 #2

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

The price of something goes up if it's desired, and has a certain set of properties that make it a good long term holding.

Bitcoin first needs to be a store of value, a currency is the next step after that, and thus far we are still in the store of value process. We need to defeat gold as store of value. Daily usage of BTC will come with lightning networks. We don't need to do anything other than keep developing the technology and people will freely choose to use it as a currency, until then it's just digital gold.

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November 19, 2017, 04:55:10 PM
 #3

Bitcoin is definitely a currency and it will remain the same. However, the outlook of the people associated with bitcoin has changed from being a currency to a profit generator. But I don't blame anyone for that. Because the investors are the asset of bitcoin who believes in it and due to the increasing interest from investors worldwide, bitcoin price is touching the sky every single day.

I am also an investors of bitcoin. So I use it as an investment asset instead of a currency. I don't spend my bitcoins for buying something. My salary is there to take care of such expenditure. But bitcoin has opened up a new world of investment which can generate profits which no other real-world investment can do. So bitcoin is a pure investment for me.

   
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November 19, 2017, 05:13:51 PM
 #4

Bitcoin is definitely a currency and it will remain the same. However, the outlook of the people associated with bitcoin has changed from being a currency to a profit generator. But I don't blame anyone for that. Because the investors are the asset of bitcoin who believes in it and due to the increasing interest from investors worldwide, bitcoin price is touching the sky every single day.

I am also an investors of bitcoin. So I use it as an investment asset instead of a currency. I don't spend my bitcoins for buying something. My salary is there to take care of such expenditure. But bitcoin has opened up a new world of investment which can generate profits which no other real-world investment can do. So bitcoin is a pure investment for me.

I honestly think the only reason they are saying it is an investment or store of value right now is because the technology isn't developed enough to the point that transactions will be essentially free because the devs need to implement Lightning Network and stuff and then they will say "oh, BTC is back to being a currency again!". LOL

Just admit it, the other coins available are catching up to the technology of Bitcoin and there is not enough development which is why more people are considering BTC as a investment instead of a currency, which is really  shame because it is supposed to be a currency first and value second just like gold and instead it is the opposite.



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November 19, 2017, 06:07:39 PM
 #5

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,
Right now bitcoin is used mostly as an investment, while bitcoin was created to be a currency we cannot make people use bitcoin as we want, that is the whole point of bitcoin to have a currency that you own completely and can use as you fell like it, so if people want to use it as an investment let them.
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November 19, 2017, 06:24:44 PM
 #6

Yeah may be it’s our greed that is restricting the proper use of the bitcoin in first place. Whatever we need is to gain more money out of it and we don’t even look forward to development that is needed by the blockchain technology or bitcoin itself. If this continues then at the final conclusion it may become just store value or more or less just asset and nothing else. The asset which is traded in stocks for money pot.

May be we are also not wrong after all because bitcoin is getting slower in the transactions as we are going through the time and increased network difficulty. So why would anyone want currency like that. May be it will take time to adopt to faster version then we can try it out as currency.

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November 19, 2017, 06:59:10 PM
 #7

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,
If we do tried out to read up again the whitepaper of bitcoin then we would really able to see that bitcoin is created for the sole of innovative new way payment system and investment mode is just a plus which lots of people do really treat it special because of the benefits that it gives to humankind. Currency mode or investment mode no matter which way we do treat it we should be thankful that it has being created but i do strongly believe that most people do see about bitcoin is on investment side because btc does really give huge profits overtime thats why it becomes popular.
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November 19, 2017, 07:11:49 PM
 #8

But thanks to that people buying it for trade or even to hold bitcoin could increase his price and population around the world, so it is worth to do that.

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November 19, 2017, 11:00:28 PM
 #9

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

That's the fact, bitcoin has been used before as currency and we all know where it all started and on where it became popular. But today bitcoin has been known as the best investment, people mostly think that if we'll buy bitcoin and just wait for it to increase, you'll earn. When people talks about bitcoin the words that we are earning is "investment" and not currency.

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November 19, 2017, 11:20:27 PM
 #10

People are only seeing bitcoin as a way to make quick profit, and there is nothing with that. Now that there are altcoins in the market, a lot of people are thinking about that all those altcoins could become the new bitcoin, and this is why most of those people try to invest on those altcoins that are very cheap, because they think that they will be rich in a few months from now, maybe years, but they want it as soon as possible.
Bitcoin is a cryptocurrency, not a way to earn quick money , and people should understand that before investing money.

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November 19, 2017, 11:20:59 PM
 #11

"Investment mode" of btc is in my opinion very unlikely case for us. Mainly because everyone here want to use bitcoin as a payment medium but in the same time we want to have a golden investment... It can't be related, because currently when people invest in bitcoin nobody will buy anything because after few days he will be able to buy not 1 smartphone but 2 or even more. And it is a circle, when we add here huge fees on bitcoin we have very bad case...

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November 20, 2017, 03:48:42 AM
 #12

Currency mode is best for users because as the value increases the spending power increases. You can buy more with less Bitcoin each and every day (or on average).

BUT, the catch 22 or double edge sword impact is that if the value keeps going up I (or anyone else) is incentivized to hold their Bitcoin, because...tomorrow it will be worth more than to day.

So the very nature of Bitcoin's success will lead it more and more to becoming an investment asset, and not a currency.

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November 20, 2017, 05:14:18 AM
 #13

Keep in mind that it was made for the easiness in every transaction all over the world but do not forget in business related with money, there will always be buyers and sellers who wants to make profits and you can't do thing about it. So go with the flow and enjoy your stay here, learn from your experience and if possible earn too.

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November 20, 2017, 02:45:17 PM
 #14

Keep in mind that it was made for the easiness in every transaction all over the world but do not forget in business related with money, there will always be buyers and sellers who wants to make profits and you can't do thing about it. So go with the flow and enjoy your stay here, learn from your experience and if possible earn too.
yeah you are absolutely right but the main function of bitcoin was to use it as alternate of flat currency so people are mostly relying on its investment mode my point is if we use it in place of flat that will help alot to the people and it will help bitcoin to gain more popularity as well as acceptance level as amazon did best an now more stores will accept bitcoin also.
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November 20, 2017, 02:50:10 PM
 #15

Keep in mind that it was made for the easiness in every transaction all over the world but do not forget in business related with money, there will always be buyers and sellers who wants to make profits and you can't do thing about it. So go with the flow and enjoy your stay here, learn from your experience and if possible earn too.

Going with the flow is the important thing because for what it used to meant may not be the case in future. And if you are still stuck with that than you are only losing out the opportunity to earn and invest in such profitable returns which you can get in  short span of time.

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November 20, 2017, 04:08:17 PM
 #16

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,
Before btc reach the state of being a currency mode, the community must respond to the problem of it particularly to the scalability and micro transactions, deny it or not it is unproductive to send a cents of dollar to someone that needs to pay a transaction fee of 2 dollars right? you may think the solution is to set the fee to 1 sat, well expect the confirmations for a week or two. Being in the state of currency mode means convince over small transaction. without a prior upgrades to the network like the Lightning Network(which is under development) that is quite not possible.

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November 20, 2017, 07:54:11 PM
 #17

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

The price of something goes up if it's desired, and has a certain set of properties that make it a good long term holding.

Bitcoin first needs to be a store of value, a currency is the next step after that, and thus far we are still in the store of value process. We need to defeat gold as store of value. Daily usage of BTC will come with lightning networks. We don't need to do anything other than keep developing the technology and people will freely choose to use it as a currency, until then it's just digital gold.

This is how I tend to use it. I only convert to fiat what I needed to use and try to keep the rest for holding. I still find it a bit silly to use it to buy stuff considering how the price can still rise. Maybe that would change once we've defeated gold and fiat, or at least bitcoin comes to their level of use. I mean, how many people here get their salary in bitcoins?
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November 20, 2017, 08:11:29 PM
 #18

Keep in mind that it was made for the easiness in every transaction all over the world but do not forget in business related with money, there will always be buyers and sellers who wants to make profits and you can't do thing about it. So go with the flow and enjoy your stay here, learn from your experience and if possible earn too.
yeah you are absolutely right but the main function of bitcoin was to use it as alternate of flat currency so people are mostly relying on its investment mode my point is if we use it in place of flat that will help alot to the people and it will help bitcoin to gain more popularity as well as acceptance level as amazon did best an now more stores will accept bitcoin also.
Currently its using by many peoples for many methods is working good for this because as its spreading its going to rise and we are going to more stable very few peoples storing this most are using and this is good part of bitcoin very few peoples want to store this for long term
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November 20, 2017, 08:16:24 PM
 #19

A trend has been started that bitcoin is now used only for raising income by buying and selling it but we are ignoring its most important fact that it was created to be used as currency and if it can be used as the currency it would really help community to enjoy its eases and regions who are accepting btc must have to start it as currency this will automatically boost user no's as well a prices,

The price of something goes up if it's desired, and has a certain set of properties that make it a good long term holding.

Bitcoin first needs to be a store of value, a currency is the next step after that, and thus far we are still in the store of value process. We need to defeat gold as store of value. Daily usage of BTC will come with lightning networks. We don't need to do anything other than keep developing the technology and people will freely choose to use it as a currency, until then it's just digital gold.

This is how I tend to use it. I only convert to fiat what I needed to use and try to keep the rest for holding. I still find it a bit silly to use it to buy stuff considering how the price can still rise. Maybe that would change once we've defeated gold and fiat, or at least bitcoin comes to their level of use. I mean, how many people here get their salary in bitcoins?

That's true and it's really applicable to me right now mate, the proof is their already so for me it's the best currency ever. I am not converting that bitcoin just for what I need, but also for my personal expenses like entertainment and other miscellaneous budgets. Although of it's volatility it doesn't mean we will have to panic, we can still spend and don't worry of possible crash because fluctuations will normally happen specially bitcoin now become more popular.

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slackcryptoz
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November 20, 2017, 08:27:04 PM
 #20

Keep in mind that it was made for the easiness in every transaction all over the world but do not forget in business related with money, there will always be buyers and sellers who wants to make profits and you can't do thing about it. So go with the flow and enjoy your stay here, learn from your experience and if possible earn too.
yeah you are absolutely right but the main function of bitcoin was to use it as alternate of flat currency so people are mostly relying on its investment mode my point is if we use it in place of flat that will help alot to the people and it will help bitcoin to gain more popularity as well as acceptance level as amazon did best an now more stores will accept bitcoin also.
Currently its using by many peoples for many methods is working good for this because as its spreading its going to rise and we are going to more stable very few peoples storing this most are using and this is good part of bitcoin very few peoples want to store this for long term
Though it has been into multiple usage, the preferences were found much among the common man as an investment asset. Little people who already have a good backing of bitcoin use it for shopping and other needs. In my personal opinion now being a currency and investment is a must for growth, but the usage as investment is found more than required.

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