Bitcoin is not a currency?

[elbimbo012]

If we stick to what currency means, Bitcoin literally not qualified as a currency since not all people are aware how to use it and it has limited merchant accepting Bitcoin as payment but still if you look how bitcoin uses it same as currency of any other country the difference is that Bitcoin exist virtually with physical value if change to any other currency

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[maimainguyen05]

In view of the current situation, Bitcoin is being used as an asset instead of as a currency. Everyone hold the Bitcoin and wait for the exchange rate to go up and make a profit. I hopes the future when cryptocurrency popular with everyone market they will coin it's currency rather than assets like now

[coinholic]

I found a video on YouTube https://youtu.be/qTxPfxmkLIY that according to this man (Warren Buffett) said "Bitcoin doesn't meet the definition of a currency" and he said that "he would not be surprised if bitcoin is not around in 10 or 20 years".

Is he a hater of bitcoin? while other big names appreciate the bitcoin.

Your thoughts?

Everybody is entitled to his own opinion. But let us not totally base our personal outlook on things from these tycoons. They are not masters of everything. Bitcoin is a digital currency, period! It is being used as payment for goods and services and is now a medium of exchange. Now isn’t that the definition of a currency?

[Kavallo]

Technically speaking he is correct. Legally too. Moreover, with Bitcoin transaction fees now being 20$-30$ for each transaction, he is right also from a substantial point of view. Bitcoin cannot be used to buy anything cheap, this it is difficult to consider it a currency.

[a4techer]

I don't think that bitcoin was not a currency because if we consider the value or the real meaning of bitcoin that's was a crytocurrency and somebody was using bitcoin to transact like pay bills, shopping and so on so how we said that bitcoin is not currency? We called bitcoin as digital money or intangible currency so that if we said digital it is not using hard copy of money we using it thru computer or any device to use in any transaction.

[Stimah23]

Actually he is very right at a point but I am sure he is still lacking in knowledge of Bitcoin because Bitcoin has grown tremendously this year and many of the major countries in the world have legalized Bitcoin and can see Bitcoin as personal property,  Currency or no currency.. so far am making my own money. I don't care.

[dragoz11]

in my opinion bitcoin is more as an asset to me rather than a currency as it has too high fees and transaction time, like gold which you can`t use for everyday payments.

[DySWv]

I found a video on YouTube https://youtu.be/qTxPfxmkLIY that according to this man (Warren Buffett) said "Bitcoin doesn't meet the definition of a currency" and he said that "he would not be surprised if bitcoin is not around in 10 or 20 years".

Is he a hater of bitcoin? while other big names appreciate the bitcoin.

Your thoughts?

Maybe you are right that he is just a hater of Bitcoin. Yes, people see and use Bitcoin as an investment vehicle. But, still, they somehow use it as a currency. Bitcoin being a currency is very helpful that is why there are still people using it because of this despite being more like an asset. Do not just believe on something you just saw.

[moonshoot]

Not that the IRS is any kind of authority on the subject as a whole, but they have declared cryptocurrency to be property, not a currency. Different countries have been treating it different ways.

[mr_enoc]

Bitcoin is a digital currency that is being used in trading and online transactions.

[cybersofts]

I found a video on YouTube https://youtu.be/qTxPfxmkLIY that according to this man (Warren Buffett) said "Bitcoin doesn't meet the definition of a currency" and he said that "he would not be surprised if bitcoin is not around in 10 or 20 years".

Is he a hater of bitcoin? while other big names appreciate the bitcoin.

Your thoughts?

Well, Mr. Buffett is a very man and you know how hard it is for the old people to appreciate changes. Old people don't accept changes and new things no matter how good they are because they are outdated. I see no reason for people to be even talking about the opinion of an old guy.

[oppasong]

Bitcoin is a digital currency and has become popular in all countries, and this will continue to grow over time.

[kristensoto]

i agree with him, bitcoin is not good enough to be called a currency because bitcoin rightnow is still being used as an asset to trade, not a currency to be used in daily life due to high transactions fee that makes us dont want to use it in day to day life.

[Souldream]

If we stick to what currency means, Bitcoin literally not qualified as a currency since not all people are aware how to use it and it has limited merchant accepting Bitcoin as payment but still if you look how bitcoin uses it same as currency of any other country the difference is that Bitcoin exist virtually with physical value if change to any other currency

Yes bitcoin maybe cannot be a literal currency that exists but as what we other called on it, bitcoin is somewhat a digital currency that exists. And maybe some of them told that it is not a literal currency because bitcoin is not yet accepted in the country's all over the world as a legal matters, but for me though it may seem to some people as illegal matters I really don't care about what they are thinking of.

[oegarod]

Bitcoin is a digital currency and has become popular in all countries, and this will continue to grow over time.

It's is the one that has been created for different cause, but in between due to the growth it attained got multiple usage. Among them one is the usage as a currency. We cannot deny it is not a currency. Maybe this doesn't have the legal acceptance around the globe as we have acceptance for USD or some other local currencies.

[GeviraBrooks]

Who told you that ? Of course it is , maybe not officially yet but it is the matter of the time. Look what is happening in Japan

[blambaba]

BTC buy all... so BTC is a currency.

[spinach98]

On my own point of view I think bitcoin is really an internet or digital currency that exist.Bitcoin is now popular to many countries and right bitcoin is being used by many people as an asset in trading.

[kier010]

bitcoin can use to buy things you want so it can be consider as currency. bitcoin is digital and fiat is physical and gold too, as long as it is accepted for exchange by the people it can be consider as currency.

[Sesiaw]

I think he is a hater of bitcoin who don't like bitcoin.His statements doesn't matter when the fact is that bitcoin is getting stronger day by day and is rising really high