why I'm not believing in bitcoin as currency

[Dudeperfect]

Things are still in the development mode and yet there is huge scope for the growth. The core values of Bitcoin are based on the decentralization principle and it makes sense to use it as a payment system. Ideally, it might not follow the criteria of the traditional currency but it is definitely a good option having potential to emerge as a payment system.

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[d0flaming0]

Things are still in the development mode and yet there is huge scope for the growth. The core values of Bitcoin are based on the decentralization principle and it makes sense to use it as a payment system. Ideally, it might not follow the criteria of the traditional currency but it is definitely a good option having potential to emerge as a payment system.

it may look like the OP was having bad times since then, that is why he's been mad about trusting bitcoin. Well we can't blame him either but if you look at the bright aide of this picture, there are lots of improvements lately and since the first launch and still it keeps running up until now.

[toresto]

Things are still in the development mode and yet there is huge scope for the growth. The core values of Bitcoin are based on the decentralization principle and it makes sense to use it as a payment system. Ideally, it might not follow the criteria of the traditional currency but it is definitely a good option having potential to emerge as a payment system.

it may look like the OP was having bad times since then, that is why he's been mad about trusting bitcoin. Well we can't blame him either but if you look at the bright aide of this picture, there are lots of improvements lately and since the first launch and still it keeps running up until now.

I sad about how people treat it most people don't look at bitcoin as currency or  technology but just a way to invest money

[ogtejiri]

BECAUSE ITS NOT A PHYSICAL OR RAW CASH

[toresto]

BECAUSE ITS NOT A PHYSICAL OR RAW CASH

well in 2010 people look differently at bitcoin.
especially with companies like Bitpay was introduced.

I don't blame people I think people that in bitcoin after 2016-2017
look at bitcoin as an only investment and nothing more
and people like me before the ICO's and SMART CONTRACTS
and all the exchanges look differently at bitcoin.

[webdevmastery]

It doesn't look like you've transacted with Bitcoin lately. I'd be surprised if you have to spend even 50 cents. Unless you're on an exchange of course, in which case it's hardly the network's fault.

Other than that, it's cool. We all have different reasons for believing, and if you feel Bitcoin is no longer that, then by all means make your exit. I still believe in Bitcoin as a currency. It's still in its infancy as far as the technology goes, and improvements like the Lightning Network are going to make it more and more viable.

I agree on your, now a days it was really hard to sustain our daily needs because the prices are keep on increasing so people think of an alternative on where they can get more money. Thankfully, cryptocurrency is existing and we can invest on it and earn profit after a few months of holding depending on the markets flow.

[DoublerHunter]

Based on my experiences, it made me believed that bitcoin is not also a currency because it is more on being an asset or an investment because you cannot use it to pay things and use as a regular currency for a regular basis and one of the reason also is the high fees and also slow confirmation speed that makes bitcoin not qualified as a currency.

[toresto]

Based on my experiences, it made me believed that bitcoin is not also a currency because it is more on being an asset or an investment because you cannot use it to pay things and use as a regular currency for a regular basis and one of the reason also is the high fees and also slow confirmation speed that makes bitcoin not qualified as a currency.

that's right, and that what this post is all about in 2011 we look at bitcoin as the currency of the future today it's just a way to invest and gain money.

[brickafterbrickwalldpt]

I understand your concerns and you are partially right. A lot of people decided to hold their bitcoins instead using them because it became extremely profitable. However, I don't agree that transactions take a lot of time to confirm. Fortunately, it seems that even transactions with 1 sat/b go through right now. Many shops still accept Bitcoin. Some companies announced that they are removing Bitcoin support but a few days after that they brought it back.

[toresto]

I understand your concerns and you are partially right. A lot of people decided to hold their bitcoins instead using them because it became extremely profitable. However, I don't agree that transactions take a lot of time to confirm. Fortunately, it seems that even transactions with 1 sat/b go through right now. Many shops still accept Bitcoin. Some companies announced that they are removing Bitcoin support but a few days after that they brought it back.

one of the problems is the speeding of the transaction and light network here to help, but it doesn't solve the problem that people just holding their bitcoin
and not using bitcoin to buy things, and let's hope the in the future we really going to see more job places the paid their workers with bitcoin.

[monkeydominicorobin]

I in the crypto world since 2011-2012
and for me as a tech guy more interest in the blockchain technology a special when Namecoin
was released and actually utilized the blockchain for DNS chain, from that point it changes the way
I look at bitcoin and truly understood the power of Blockchain and Cryptocurrency and the future of Bitcoin as currency
and not only investing without understanding what are the benefits and how and why
this sweet digital currency set out to change global finance and the world.


 I think people that in bitcoin after 2016-2017 and maybe 2015 will not understand this post they
look at bitcoin as an only investment and nothing more.
 just started with bitcoin and another crypto because they how the price jumped out and how you can turn "500$ to 4M"youtube videos.
and the tv and media that talked about that.

and people like me before the ICO's and SMART CONTRACTS
and all the exchanges look differently at bitcoin.

we believed that in the futures more bitcoin jobs and people will get paid in bitcoin
and you able to travel around to world with one currency
and pay in local shops


"Bitcoin is peer to peer payment network digital currency "

do bitcoin really doing this in 2018
are people really using this as currency
is more and more local shops accepting bitcoin(physical store not over the internet)
do we get more job places and people got paid with bitcoins?
do new people look at bitcoin that way or only as a momentum to invest, and make 500$ to 4M?

and this is few of the things we believed at that time

no taxes
since no regulation, it's a coin for the people and minted by the people

failed: more and more countries trying to control and regulate Bitcoin and implement taxes since nowadays you mostly buy bitcoin and not
mining using your pc, we had only 2 options
mine it or
Damn you Mt.gox
and no taxes because of bitcoin was mined by us the people and no ASIC  that time

and bitcoin for the government wasn't real
and it wasn't an investment but some "idiots solving mats stuff with their computer" and as a reward getting some
"crypto Coins" that have no real use and not real money!
it's only in past serval years they change their mind
I talking about 2011-2012, not 2018!

I am not talking about a tax for buying a product with bitcoin but for buying bitcoin, back their how can you pay tax for bitcoin if you mined it with your computer
now you can't you go to exchange and must pay taxes for something that several years ago:

"what is bitcoin"
"it's not real why should I accept it"

fast and instant
you can send even small amount as 1$ instantly to anyone in the world and pay a super ridiculous low fee

failed:
and even with the LIght Network!!
new or average bitcoin user who is holding a few dollars can’t actually use bitcoin as money because the fee is higher than the money they’re holding. (we talking about few dollars not thousands)
if you received your 1 dollar with 100 of small transaction you will pay for the bytes and most likely it will cost you more.


more and more local shops accepting bitcoin

I remember  the first coffee shop in my town accepted bitcoin as
a payment that was for me like buying something for the first time with
my own money, felt like this is the moment all bitcoin
users was waited for

more and more people using bitcoin for daily use in real life
as more shops  accepting bitcoin more users start using them

failed: as the bitcoin network became heavy
and the price of bitcoin went super crazy up
fewer people actually using Bitcoin in daily life
and holding it as casino chip waiting to cash out
as a result of this fewer shops accepting bitcoin
because no one uses them but just holding as an
Investment.

and besides who wants to accept currency
when you just want to buy a coffee and wait
30 minutes to 2 weeks for a transaction
approved depending how much fee you paid

sure if you buying a car you willing to wait 2 days or even weeks
but not when you buying a Fre@king coffee.

and yes even with the light network

Bitcoin is not fast anymore every one waiting in a queue and competing with a transaction fee
to be the first to validated and there is tons of other that waiting exactly like you.


and the most important of all

One World, One Currency
The supply and minting of a global currency not regulated by a central banking but decentralized,
no age sex or geolocation discrimination Currency for the world people and   minted by the world  people,

it's supposed to be world currency you could travel anywhere on in the world and buy in local shops
and not only over the net.

imagine a world where you can go to your shopping mall and buy an ice cream or ticket to the movie
and then go out with your girlfriend to eat in a restaurant.


Big Epic Failed: do you understand that people no more creating(mining)
this Currency unless you got sh**load of money to buy your self ASIC, and honestly I will not be surprised if we find out that huge corporation  or even some countries owning the majority of huge "ming farms"



So people not using bitcoin the way it should be only as "casino chips"
and this the manly problem with ICO'S scam and any other investment in cryptocurrency.




people forgot that in Cryptocurrency you have Currency, so stop treating as "opportunity to invest".
sure it's investment but back in 2011 we at least knew why to invest in bitcoin and how it's really goind to change the world.

and the only question I got asked that time was:

"what is bitcoin?"

and I was explaining them about blockchain and that it decentralized
and people still was confused asking me why should I put real money into
this "virtual" thing

and I was nailed my explanation with only one sentence

"dude its free money"

and that worked every time.

remember you could mine it with your pc no ASIC was at that time
and butterfly labs just was a baby and doing their  "Pre-sale"

so yeah it's basically was the global world free money

today people only ask one question:

"should I invest or not in bitcoin?"

and many if people look at this as real life-changing and real currency that you can use in your daily life
and that there is a technology behind it

how can you claim in "Crypto We trust"
if the majority of people use it only as "Casino Chips" and  "opportunity to invest".
you really think with that thinking there is a real-life use for cryptoCURRENCY


people think twice next time before buying some cheesy ICO's or investing in coins that have no real life use

look if it really going to do something and if the world really needs it.

I think we destroyed Bitcoin and what Bitcoin stands for, so at least let's save the
future of other cryptocurrency and helpful we truly see crypto in real life
and every shop will accept it as their payment


and besides how can you claim bitcoin will replace gold and money if

today you able to buy a house with it and tomorrow you can't even buy bread, so how can you trust that as money replacement.

and I do believe in cryptocurrency I just not believe in bitcoin as a global currency
because what other people made him, and not in bitcoin itself

and the whole point of this post is to raise the awareness of people how they thread cryptocurrency
and understand why they invest in "token" or coin there is something behind it and not only "take my money" but WHY
and once again I could buy my self a coffee without waiting 2 weeks and pay a high fee

people still investing in tokens and thinking that tokens are cryptocurrency
and the blockchain is Bitcoin and not a technology.

and in 2011 I was conflicted with people
"what is bitcoin" and was always defending
today it's useless most of the people that replying to my post
don't understand that I talking from the point of view and  believes we had in 2011
regarding bitcoin on back there, we believed that bitcoin replace the money
and later that bitcoin is digital gold

today it's completely different people look at bitcoin only as an investment
and for me holding bitcoin and using every time I see a local shop that accepts it
was a great deal in that time

I just disappointed that some people still don't understand that bitcoin suppose to be
digital money and not only a digital asset

and nothing wrong if you invest and hold it just understand why and in what you invest.

ohh yeah and sometimes they add "it's anonymous", or decentralized but without any blive into it but only pure "invest" invest and invest!

and today if you ask someone do you believe in bitcoin??
and did you invest in bitcoin

most likely will be "yes" but why?
and they replay with something like "I believe the price will go higher 20000"
"the price will go up" "invest"
you will not hear a good explanation why da hell they investing in bitcoin
and you will not hear  "it's the money of the future" "more and more shops accepting it" "it's going to be the world money" but just invest invest invest!!!!!


we knew that this kind of thing
have a future so we knew why to hold and invest.





and remember it's crypto---->>>>>CURRENCY so threat that as CURRENCY

It is your prerogative to hate Bitcoin. It is our prerogative to use Bitcoin in our everyday lives. If you are trying to pull everyone down because you lost a lot from the Mt. Gox debacle. I am sorry but Bitcoin is not at fault. They used Bitcoin as a scapegoat and it shows. Nowadays Bitcoin worth 6,000 to 19,000 dollars per unit so if Bitcoin is at fault back then. How did Bitcoin made a huge comeback? It is because a lot of people realized that transaction malleability is just an invention of Mt. Gox.

[toresto]

[/quote]

It is your prerogative to hate Bitcoin. It is our prerogative to use Bitcoin in our everyday lives. If you are trying to pull everyone down because you lost a lot from the Mt. Gox debacle. I am sorry but Bitcoin is not at fault. They used Bitcoin as a scapegoat and it shows. Nowadays Bitcoin worth 6,000 to 19,000 dollars per unit so if Bitcoin is at fault back then. How did Bitcoin made a huge comeback? It is because a lot of people realized that transaction malleability is just an invention of Mt. Gox.
[/quote]

no just saying that most of the people look at bitcoin as investment and nothing more.

[zhanghoqi5]

Don't be so negative.

It's actually not a value reserve, and you can use it as a value reserve.

[toresto]

Don't be so negative.

I being objective not negative

[ganlianshifu1]

Bitcoin is not issued by a specific monetary authority, which is generated by a large number of calculations based on a particular algorithm.

BTC itself is central bank and currency! And the number of BTC is certain!

[toresto]

Bitcoin is not issued by a specific monetary authority, which is generated by a large number of calculations based on a particular algorithm.

BTC itself is central bank and currency! And the number of BTC is certain!

did you just do "WIKI" on me?

[gabmen]

Bitcoin is not issued by a specific monetary authority, which is generated by a large number of calculations based on a particular algorithm.

BTC itself is central bank and currency! And the number of BTC is certain!

That is fiat's features and crypto is entirely different. That's why many believers are saying that the good thing about crypto is it gives them freedom from control by governments and banks. So crypto will be a currency different from how we see fiat today.

[shakhana]

I think that in the near future we will really pay with the crypto currency. Therefore, it is better at this stage to fully study it and be ready for future events. Crypto currency is our future.

[toresto]

I think that in the near future we will really pay with the crypto currency. Therefore, it is better at this stage to fully study it and be ready for future events. Crypto currency is our future.

most of the people look at crypto only as a way to invest and gain money and not as currency that what i trying to say with my post.

[toresto]

I totally agree with OP.
I myself never view bitcoin or any crypto token as currency but that doesn't mean it can't be. It's just the time isn't right. It's too volatile to be use as daily life currency right now. Maybe things will get better after the price is more stabilize in the future, 20 years from now.

i really hope so :-)