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Author Topic: investment mode of btc is best or currency mode???  (Read 917 times)
aeternus
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November 28, 2017, 05:29:15 AM
 #61

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.
People are not going to do something that goes against their interests, people do not use bitcoin right now because they do not find it practical, but when bitcoin finally becomes what we know it can become a fast way to make payments all around the world, people are going to use it instead of fiat.
In order for bitcoin to have received such quality as you say should totally change the conditions for its use. Now bitcoin is used for accumulation and indirectly supports Fiat. Because in order to make purchases, we are forced to change their coins for Fiat. All purchases we make for Fiat. This means that we will never give up Fiat.
Many people make the comparison between gold and bitcoin, gold has always been hoarded and in the past was used as a currency so I do not think the fact that people are hoarding bitcoin to be something that plays against bitcoin, in fact I think it is a good thing since that means people trust in bitcoin to retain its value.

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November 28, 2017, 05:32:02 AM
 #62


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.
People are not going to do something that goes against their interests, people do not use bitcoin right now because they do not find it practical, but when bitcoin finally becomes what we know it can become a fast way to make payments all around the world, people are going to use it instead of fiat.
In order for bitcoin to have received such quality as you say should totally change the conditions for its use. Now bitcoin is used for accumulation and indirectly supports Fiat. Because in order to make purchases, we are forced to change their coins for Fiat. All purchases we make for Fiat. This means that we will never give up Fiat.
That's the problem, people just use bitcoin to convert it to fiat, the payment method with bitcoin is not practical and rather expensive really different compared to the past when the blockchain still not this crowded.
we can conclude that bitcoin will can't beat fiat as a function to be a payment method until atleast bitcoin becoming more practical to be used.



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November 28, 2017, 12:38:26 PM
 #63

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,
It totally depends on the mode you want to switch yourself to. Both are good, but we both know if you invest it properly, it is more like multiplying what you have which does not mean you cannot do the two.

Spending is important and if trading is normally not even going on right now which is still part of currency mode as far as I am concerned, we won't be seeing the fluctuations we are seeing. Certainly we cannot deny the fact that it is not widely accepted yet, which is what makes the currency mode difficult without having to convert to fiat before, but it is a gradual thing.
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November 28, 2017, 12:47:49 PM
 #64

Even if we want to, how can we let go of something that keeps on going up?
That is just one problem.
Next is where will we use it?
There is a lack of merchants that accepts bitcoin as a means of payment.
Usage will never be done unless we do have some place where we could spend it.
Items like the one on Amazon that almost have it all will help.
But who is going to risk it? Will there be one company who will take the next step?

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November 28, 2017, 12:55:47 PM
 #65

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,
During Bitcoin's early age the essence of being a new form of currency can be seen but as it has gained popularity in the community, Bitcoin's price skyrocketed until today that is why enthusiasts see something that Bitcoin has potential when it comes to investment purposes. Most crypto enthusiasts these days are into investing time and money to earn profits with cryptocurrency most especially in Bitcoin. Some people are holding Bitcoins for long term investment and some others trade Altcoins in exchange of Bitcoins. It doesn't matter on how we understand and deal with Bitcoin either an investment, a store of value or a currency.

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November 28, 2017, 01:37:22 PM
 #66

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,
During Bitcoin's early age the essence of being a new form of currency can be seen but as it has gained popularity in the community, Bitcoin's price skyrocketed until today that is why enthusiasts see something that Bitcoin has potential when it comes to investment purposes. Most crypto enthusiasts these days are into investing time and money to earn profits with cryptocurrency most especially in Bitcoin. Some people are holding Bitcoins for long term investment and some others trade Altcoins in exchange of Bitcoins. It doesn't matter on how we understand and deal with Bitcoin either an investment, a store of value or a currency.
I also noticed that crypto industries already created a mindset, that investors will gain if they know how to work with it, the essence of creating a new form of currency to make payment transactions  more easier is no longer the main point of holding bitcoin, who would thought that this will happen so fast and from
now on people are holding and keep placing their resources with this current investment.

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merchantofzeny
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December 01, 2017, 06:56:36 PM
 #67


Well good for you, I barely spend any (quite ironic for my username).  Grin

The thing is, I don't mine any crypto so every bit I earn I really have to work for. I managed to snag some campaigns here before, that's how I started learning how to use bitcoins anyway. I no longer participate in any now though. They are far in between because of the high price and obviously we seem to get millions of newbies everyday here, ahaha. Grin

I'm currently looking into getting to learn skills so I can freelance and earn more. For now, my money is staying in the wallet.



              Isn't it a already a bit crowded when we got millions of newbies every day? Well setting that aside i am also positive bitcoin will be good in a long run, although several updates and technical changes have been made in order for it to be used smoothly, nothing has change to what bitcoin really is, and it doesn't fit for me usng bitcoin as a day to day currency although its made to be used as one, but i choose to hold mine inside my wallet.

Not only am I hopeful, we need it. Sooner or later economies running on what is basically debt would have a crash turning everything we worked for into dust. Cryptocurrency is one possible way for us to avoid being a casualty.
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December 01, 2017, 07:10:06 PM
 #68

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.

Guess it's more of me being such a cheapskate, ahaha! I would often be like "those bitcoins I withdrew last year... they could be worth double now had I waited". Anyway, I don't really need it for daily use anyway so I can just keep them there.
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December 04, 2017, 07:42:16 AM
 #69

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,

It is true that the principle behind the creation of bitcoin was to make it as easy currency to transfer the funds form one point to another or in simple words easiest peer to peer transaction experience. But with the time people took it completely in wind way and starts making the investment instead of transactions and thus the bitcoin got the status of greatest asset ever and it also broke all the record in very short period of time. So I'm pretty sure that now bitcoin will used as an asset only and there is no coming back from it because man just look at the number of investors here and they all just waiting for the rich status to obtain by suing bitcoin itself. :-)

I think its not our fault because bitcoin itself got so much powerful that we had no option but to adopt it in that way. But let see we still have scope of the bitcoin in future as financial institutes from real world still have nit got any interest in it but they will surely.
Transactions are still being done and one thing is that it is a normal thing to see when considering all options in this ecosystem and everyone serves a purpose (spenders, holders, traders etc.).

Normal human consciousness will normally not want to quickly spend something that can also serve as an asset and increase in the long run, but that does not mean we do not have spenders at all. After all, I still used part of my bitcoin to buy some groceries recently so we cannot just assume that no one is spending.


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December 04, 2017, 08:13:35 AM
 #70

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.
People are not going to do something that goes against their interests, people do not use bitcoin right now because they do not find it practical, but when bitcoin finally becomes what we know it can become a fast way to make payments all around the world, people are going to use it instead of fiat.
Yea, it is easy to say everyone should spend now, but the fact is that in reality, you can even hardly spend without converting to fiat first which is still spending as far as I know. Therefore, since we are seeing a lot of activities going on in most of the trading platforms, I consider it as exchange from hand to hand which is still spending but a different way. Until we start seeing more merchants accepting and real life usage becomes easy, before we start seeing people spending.

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December 04, 2017, 08:14:23 AM
 #71

With the current high price, investment mode of btc isn't the best , other currency will give you more profit than Bitcoin can.
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December 05, 2017, 05:26:16 AM
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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,

I do not see why it needs to necessarily be a choice, bitcoin can be used for transactions and it can also be used as an asset which people hold. Of course any increase in adoption will increase price.
Even the holding is playing some roles too. The fact that bitcoin is useful and we get to see very little in circulation makes the demand to be high and then the value to increase. More like, please I need what you are holding and I am willing to pay this for it.

Over time, when people find ways to start using it easily, a lot would change and we will start seeing people spending. So many people are getting paid now in bitcoin and they just have to spend at some point no matter how little.

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December 05, 2017, 06:55:12 AM
 #73

It is both needed for transactions and also for investment.Then why is it an issue for now if you use it for currency or for transaction to pay and alsi to invest on some projects.For me there is no difference between the two.

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December 05, 2017, 07:34:37 AM
 #74

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 you play with a lot of money you can invest at least 1 BTC and you wait for 2 years to come then you will get a lot of bitcoin from your investment advantage.

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December 07, 2017, 06:58:47 PM
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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.
People are not going to do something that goes against their interests, people do not use bitcoin right now because they do not find it practical, but when bitcoin finally becomes what we know it can become a fast way to make payments all around the world, people are going to use it instead of fiat.
In order for bitcoin to have received such quality as you say should totally change the conditions for its use. Now bitcoin is used for accumulation and indirectly supports Fiat. Because in order to make purchases, we are forced to change their coins for Fiat. All purchases we make for Fiat. This means that we will never give up Fiat.
That's the problem, people just use bitcoin to convert it to fiat, the payment method with bitcoin is not practical and rather expensive really different compared to the past when the blockchain still not this crowded.
we can conclude that bitcoin will can't beat fiat as a function to be a payment method until atleast bitcoin becoming more practical to be used.
Not only changing our bitcoin to fiat is adding an unnecessary step but it is also adding additional fees that is why bitcoin needs to be used directly, this is why what it is happening in Japan is really important, in Japan there are many business accepting bitcoin already and once the lightning network is in place the number of business accepting bitcoin is going to go up and for those that want to use their bitcoin directly Japan is going to become a place where we can live our lives using bitcoin directly.

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March 01, 2018, 07:55:22 AM
 #76

It depends on how a country will accept bitcoins. Because they are also using their existing currencies, but there's not much difference in it, both are useful in their own ways, they also have their own limitations,bitcoins are essential whether it is used in the form of investment or currency.

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March 01, 2018, 08:05:22 AM
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It depends on how a country will accept bitcoins. Because they are also using their existing currencies, but there's not much difference in it, both are useful in their own ways, they also have their own limitations,bitcoins are essential whether it is used in the form of investment or currency.
As we  all  know  bitcoins  can  be  used  both it either as bitcoin investment or a currencies  and  if you want  investment it is more  than  any money in the  world how fast it grows  can  you  imagine if you just hold  for several  years  how much you earn. And if you also use it  for  currency for as we know it has been no boundaries you can use  it every where  around  the globe economically.

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March 01, 2018, 09:35:15 AM
 #78

The best investment is investing with cripto money, because more profits are gained than investing with foreign currency. In addition, the price of cripto money is much larger than paper money.
Previously I tried to invest with forex money I get five times from my deposit for 2 months.
So because I just put a little deposit, and the result I get is also a bit in foreign currency.
If only I put a deposit in the eyes of cripto money would be the advantage that I get more than to put a deposit in foreign currency.
So I better invest with cripto money because so many benefits that I get.

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March 18, 2018, 04:31:15 AM
 #79

its better as an assets only because nobody is going to accept btcs so easily over fiats that they has been seeing from birth
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March 18, 2018, 07:51:50 PM
 #80

Do you think it can be used as currency? Is it really worth that reliability and faith? I dont think so -_-
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