why I'm not believing in bitcoin as currency

[Walrus1]

Well even when businesses accept it not many take advantage of it. Overstock.com said less than 1% of transaction were btc

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[Geoll29]

I understand that a currency is a thing we use to exchange for goods, products or services. Bitcoin has this characteristic. So I am considering bitcoin as a currency.

[toresto]

North American Bitcoin Conference (TNABC) will be hosted in downtown Miami at the James L Knight Center, January 18-19. However, bitcoin proponents got some unfortunate news this week as the event organizers have announced they have stopped accepting bitcoin payments for conference tickets due to network fees and congestion.

I think it sums what I wrote

https://news.bitcoin.com/miami-bitcoin-conference-stops-accepting-bitcoin-due-to-fees-and-congestion/

[KesoNie]

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 :-)

We do have different interpretations about bitcoin, some are not believing bitcoin as a currency some are also looked at it as a currency but we have to respect each others opinions. Well for me, bitcoin is still not considered as a currency because the fact that we still have to exchange or convert it into fiat is the one reason that hinder bitcoin to be called as a currency.

[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 :-)

We do have different interpretations about bitcoin, some are not believing bitcoin as a currency some are also looked at it as a currency but we have to respect each others opinions. Well for me, bitcoin is still not considered as a currency because the fact that we still have to exchange or convert it into fiat is the one reason that hinder bitcoin to be called as a currency.

yup I probably still living in 2012 when we accepted bitcoin as payment based on trust and believes
but your words a correct  "we have to respect each other's opinions."

[Walrus1]

Although it's grown we are still in the beginning stage of btc adoption. Yes, a lot of people think they will get rich but I still think btc is like any other new technology and will have many morphs along the way

[bncbnc]

Although it's grown we are still in the beginning stage of btc adoption. Yes, a lot of people think they will get rich but I still think btc is like any other new technology and will have many morphs along the way

In fact still there are such places where people still do not have any idea about bitcoin. I think in such i do not think that they will believe to invest their fiat for making money and they will even not believe on bitcoin as currency, but later on when they will comes to know about bitcoin and they they will see or come to know about in vesting their money there will start believing of online purposes.

[ekaterinastrelnikova505]

Purchasing from the hands of forums devoted to bitcoins can find a large number of owners in the crypto currency in your city. It is important to carefully monitor the reputation of the seller and ask what services you can receive funds.

[toresto]

Although it's grown we are still in the beginning stage of btc adoption. Yes, a lot of people think they will get rich but I still think btc is like any other new technology and will have many morphs along the way

In fact still there are such places where people still do not have any idea about bitcoin. I think in such i do not think that they will believe to invest their fiat for making money and they will even not believe on bitcoin as currency, but later on when they will comes to know about bitcoin and they they will see or come to know about in vesting their money there will start believing of online purposes.

people treating bitcoin only as assets to invest most of the time, and not even looking at a digital way to buy goods .


common let's buy some crypto and HODL and get rich.

I not hearing anymore no one talking how he bought ps4 with bitcoin, or paid for gas, or what do you think should I buy this plain ticket using bitcoin or Litecoin?

or anything like that, but I always hear:

"invest", "I bought bitcoin and hold it till it moon", "what do you think to sell?" "Ripple or Litecoin"

most of them not looking at the technology or the use but a pure DIgital asset to invest and to hold

I say let's change officially the name from cryptocurrency to cryptoassets and bury the word Currency away from Crypto for life.

[irinalevina456]

Do not be afraid to make an investment if you go for your money, then invest a small amount first.

[multikript888]

guys hello. tell who invests where? how do you earn money on crypto currency?

[rainezerr401]

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

and why did we belived in that?

bitcoin at that time wasn't real for most of the people and the only way to accept
something as a payment or is to put some trust to this
without it, bitcoin is just software on a computer

remember that time most of the people

"what is bitcoin"


so with that believes with time people were willing to accept bitcoin
and invest in this "future money"


for us, bitcoin is  "Bitcoin is peer to peer payment network digital currency "
that will change global finance and the world.

and we going to be part of this huge thing(it's not only about money and investment that time more important was to raise the awareness about bitcoin)

but do bitcoin really doing this in 2018?
are people really using this as currency
are 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:

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.


Bitcoin is not that 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.


North American Bitcoin Conference (TNABC) 2018, bitcoin announced they have stopped accepting bitcoin payments for conference tickets due to network fees and congestion.
https://news.bitcoin.com/miami-bitcoin-conference-stops-accepting-bitcoin-due-to-fees-and-congestion/

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.



but there is always a bright side:

with the time Light Network
 going to speed things up, lower the fee's, and  more shops will get back to accepted bitcoin as payment
and maybe in the future, we really going to see more job places that pay their workers with bitcoin.

 but it doesn't solve the problem that people just holding their bitcoins, as "casino chips" and in the right moment cash out.


instead to understand what is actually bitcoin, and how can you use it for your daily life, and of course why.


Bitcoin is blockchain technology that created to be decentralized for to all people around the world and to use &  utilized for their needs to serve a specific  purpose.

And Bitcoin is a  "peer 2 peer payment network" and not only "peer 2 peer Crypto Stock Exchange  network"

and that  applies to all cryptocurrencies
 

Every people has different opinion and if you think that you will not become successful in cryptocurrency then its your freedom to choose what do you prefer but you can always look at the rich gentle man on you tube who earn their wealthy from cryptocurrency.

[sam2014]

even with Lightning Network people holding their coins and not really using them.

so Crypto  became trade market and not currency

if people not looking at bitcoin as currency in real life, we kinda losing the whole point of bitcoin here

I make use of crypto even as a currency,  so don't say that