Bitcoin must come back to its original use - currency !

[esa2782]

totally agree but the problem is how to make it real, because what we see around is that governments are not supporting the ecosystem of bitcoin and cryptos, even we have a friendliest country for bitcoin like Japan, but still Japan government does not acknowledge bitcoin as a currency, so as long as government hesitate and suspicious it will be hard to see bitcoin as a currency, because currency must be legalised by an authority before being used and implemented in society.

[weblaraveluser]

As the title says I am pretty sure most of us who understands "what is the actual use of the bitcoin will know what it says"

Bitcoin :
Mint Symbol : BTC
Value : Avg. 10K USD/BTC
Form : Virtual
Use : Currency

This should have been the actual thing after the Satoshi's dream to release the coin like BTC in the market. The bitcoin was supposed to be used as currency to buy and sell things the same way we do with our dollar.

The first use of BTC was done when the guy bought pizza for 10K BTC. That was the thing which should have been continued today also. No matter what how much you pay for pizza in those early days, it could have been few satoshi's today but it could have worked just fine.

The status of the BTC has now turned to commodity. The commodity which is being traded globally for the own profit and to run the different industries. This is getting ridiculous day by day as replica of it coming out of the forks.

This Should have been the Future:

Bitcoin is ebbing used as currency in 2009-2010. Government see that its popularity is growing day by day and it could be of could use in the financial sectors, lets implement the blockchain in our banks!

Bitcoin earns the legal status

Bitcoin gets widespread across the globe and rest of the country follow the same and thus the nationwide legal status turns into the global legal tender!

People start using the BTC for trading daily life needs with help of bitcoin.

There are no creation of million BTC addresses daily but the only one unique address per head per bank account!

No exchangers are being created but only handy smart phone apps and PC wallets to store the coins linked with bank chain.

Bitcoin smoothly shifts in the market capitalism and keeps going upwards slowly but steadily. The value rises and it gets cheaper to use for daily needs.

Global financial advisor think about minted coins to be formed physically with unique barcodes printed on them.

First appearance of the BTC in the global market!

Yes, that seems to me perfect. This is what bitcoin could have followed but greedy human changed its history by using it for their own benefit as commodity.

I believe as well that the price of bitcoins will grow back to 10k dollar within just a few months starting this past few weeks because the tax day in united states has already end last wednesday.

[shinchan123]

That is something that we must prepare for because when that time comes, then we would not be able to make profit and take advantage of bitcoin's volatility. I'm quite positive that once bitcoin becomes a regular currency, then the volatility range will not be as high and as low as it is right now.

[tuikindu]

Yes, bitcoin was originally a currency, but it is now more of a commodity.

Because there is so much volatility in bitcoin, there is now more and more people using it as a tool of speculation, against the original intention of bitcoin.

[BitcoinCommodor]

Yes, Bitcoin is a payment system in its core and we should treat it in that way in the first place. I am not against earning money from speculation activities but that should not be the primary aim of a user. I try to spend my 50% of the Bitcoins and hodl/invest rest 50% of the funds but I don't have even a single merchant in my city accepting Bitcoins against goods and services so there is no utility value for my Bitcoins unless converted into the fiat currency. However, I am optimistic that we will have a crypto friendly market environment in the coming years in most of the countries and the number of people using it as a payment system would drastically increase.

What is the original use of bitcoin? I think that the original use of bitcoin is that all the people start using bitcoin as their regular currency for their daily needs. It will take time and I am sure in the near future we will see this with our eyes. The use of different currencies will be replaced by bitcoin only. This will be the original use of bitcoin in the future.

[YzzyGo]

Nothing is perfect and everything stated is an absolute best for bitcoin but too far-fetched. If bitcoin was to be used as currency, it will lose its volatility as a trading platform and might even loss its price due to people's loss of interest in it. Minting physical bitcoins would have to go through too much red tape for global distribution. There are a lot of others things probably we need to take into consideration.

[Spaffin]

I agree that more attention should be paid to using bitcoin as a means of payment, rather than investing in it to raise its cost. Increasing the cost of bitcoin is actually a way to a dead end, which eventually leads to its depreciation if the cost of bitcoin reaches very high price values. At the same time, it will deal a very serious blow to the image of the entire crypto currency. Therefore, we should pay more attention to bitcoin as money, and it is with this that it is still a big problem. We want bitcoin to grow in price, but its functional quality is very low. In fact, now, bitcoin can not yet be used freely as a means of payment for goods and services that are insignificant in value. How can we then expect its significant growth in price, if it does not perform its usual functions in due measure. It can grow under these circumstances in a price only at the expense of artificial demand for it, that is, we ourselves make a financial bubble out of it. And while still wondering: where it comes from.

[Betwrong]

~ The use of different currencies will be replaced by bitcoin only. This will be the original use of bitcoin in the future.

That will hardly happen because there are currencies with unique specifications and they are useful in their implementation area. Bitcoin will not be and should not be the only cryptocurrency because this is not how the free market works. Bitcoin is capable not only survive in the world of fair competition but it can remain number one in many fields while giving the way to other cryptos in the fields where they perform better.

[nidacoinlove]

Yes, Bitcoin is a payment system in its core and we should treat it in that way in the first place. I am not against earning money from speculation activities but that should not be the primary aim of a user. I try to spend my 50% of the Bitcoins and hodl/invest rest 50% of the funds but I don't have even a single merchant in my city accepting Bitcoins against goods and services so there is no utility value for my Bitcoins unless converted into the fiat currency. However, I am optimistic that we will have a crypto friendly market environment in the coming years in most of the countries and the number of people using it as a payment system would drastically increase.

What is the original use of bitcoin? I think that the original use of bitcoin is that all the people start using bitcoin as their regular currency for their daily needs. It will take time and I am sure in the near future we will see this with our eyes. The use of different currencies will be replaced by bitcoin only. This will be the original use of bitcoin in the future.

I like your optimism and enthusiasm about the future use of bitcoin but unfortunately I don’t see it happening in the near future. People from around the world are looking at bitcoin more as a stock/commodity than a currency.
Reason is that BTC is in the hands of few materialistic and selfish people who don’t want it to be used like a currency as they have the fear of losing hold and more money with it. We saw Segwit then Segwit 2X and lightening were introduced for to keep their hold on BTC. All these things are hindering the mining of BTC. BTC could only be used as a currency when the mining issues will be resolved.

[miltonpogi]

I think uses of bitcoin had never change only its value has change, untill now using bitcoin for transaction and exchange of goods is acceptable. For me bitcoin is in crisis now but we our hoping to it will back to its past value.

[EnricoGomez]

It is quite impossible to actually change back bitcoin as just a currency, a lot of time and effort has already been placed to it. Many of the people using it and I for one like how bitcoin is currently. The volatility of bitcoin and putting investments related to it is very useful to everyone and may be considered as additional source of income.

[Dhaniii]

As the title says I am pretty sure most of us who understands "what is the actual use of the bitcoin will know what it says"


The status of the BTC has now turned to commodity. The commodity which is being traded globally for the own profit and to run the different industries. This is getting ridiculous day by day as replica of it coming out of the forks.

let's say bitcoin as an asset, just like money/gold be. basically asset can be used not only for transaction but people use it to invest, trade, and other activity for their income. so what the difference and the problem actually is nothing.

[darewaller]

Bitcoin is not yet legal to most of the countries and as such only few people will be able to use it as a currench to buy things for their daily living and those who are located to countries where it is not yet legal,they have no choice but to make use of its volstility in the market which is thorugh investment.

That is not a problem. It may not be now but that does not mean it would not be in the future.
Moreover, a lot of countries are already considering regulating it which apparently works hand in hand with legalization and as long as they realize it as a legal entity, a lot of things will change, we will get to see big institutions, as well as top players coming into the system, and then we will get to see a more matured market, but until then, we should not expect to see some of these huge volatility.

[aencarnaci]

As the title says I am pretty sure most of us who understands "what is the actual use of the bitcoin will know what it says"

Bitcoin :
Mint Symbol : BTC
Value : Avg. 10K USD/BTC
Form : Virtual
Use : Currency

This should have been the actual thing after the Satoshi's dream to release the coin like BTC in the market. The bitcoin was supposed to be used as currency to buy and sell things the same way we do with our dollar.

The first use of BTC was done when the guy bought pizza for 10K BTC. That was the thing which should have been continued today also. No matter what how much you pay for pizza in those early days, it could have been few satoshi's today but it could have worked just fine.

The status of the BTC has now turned to commodity. The commodity which is being traded globally for the own profit and to run the different industries. This is getting ridiculous day by day as replica of it coming out of the forks.

This Should have been the Future:

Bitcoin is ebbing used as currency in 2009-2010. Government see that its popularity is growing day by day and it could be of could use in the financial sectors, lets implement the blockchain in our banks!

Bitcoin earns the legal status

Bitcoin gets widespread across the globe and rest of the country follow the same and thus the nationwide legal status turns into the global legal tender!

People start using the BTC for trading daily life needs with help of bitcoin.

There are no creation of million BTC addresses daily but the only one unique address per head per bank account!

No exchangers are being created but only handy smart phone apps and PC wallets to store the coins linked with bank chain.

Bitcoin smoothly shifts in the market capitalism and keeps going upwards slowly but steadily. The value rises and it gets cheaper to use for daily needs.

Global financial advisor think about minted coins to be formed physically with unique barcodes printed on them.

First appearance of the BTC in the global market!

Yes, that seems to me perfect. This is what bitcoin could have followed but greedy human changed its history by using it for their own benefit as commodity.

This is what I also think. Bitcoin is supposed to be used as a currency and not as a commodity. It is also the reason for its volatility because whales and pump and dump groups are also controlling its direction. But if it is accessible by many people and is being used as a currency to buy and sell necessities then the masses will have more control over Bitcoin like any other fiat currency and its price will stabilize. I just wish that within the next decade the direction of Bitcoin will shift from being a commodity to a currency.

There's no supposed to be currency thing interms of government regulation and they doesn't find it a currency since they still looking the fiat as the real one. But I would agree with the government though about this since bitcoins still based on supply and demand and yet we can't really deny that is the circulating fact about the bitcoins.

Yeah I also want the same. When all the people use bitcoin and all payments made though bitcoin, is the success of bitcoin and it will come back to its original use. The creation of bitcoin is for the purpose that the whole world will use just one currency in the future and that will be only bitcoin. People will be happy because of the easy use of bitcoin.

[gambitcoin53]

i think being a currency is just one of the many ideas why bitcoin was created, but since the whole digital system is evolving, even the world changes financially, every ideas evolve as it goes on the wire to present economic status. bitcoin is developing into more ideas and financially, it is coping with the aid of human needs and wants, bitcoin is ever-developing as the world evolve, more and more ideas will be developed.

[Spain2000]

Bitcoin is good and the value of bitcoin in the past were very volatile as compared to now and now a days bitcoin is demanding in many countries while the online merchants are also using crypto money for online payments and for me bitcoin is very lucky and if we do some work for bitcoin it is a good source of income for me as well. while bitcoin is coming back to it's original use as it was designed for a good purpose.

[choychoy]

Bitcoin is now popular as the storage value rather than a currency in which peole are holding there bitcoin and not spending in daily use. They are waitig for the best price because they believe that a decentralized currency will become expensive as the supply will become few.

[zhanyiguai261315]

Because the price of BTC is very volatile.

People just use BTC to make a profit!

Money is a measure of value, and the price volatility of BTC is very difficult to withdraw money.

[Onews1990]

I think one of strength sides of btc which is deflationary nature, is also one of its biggers weaknesses. Its like gold, most valued utility as an investment, and a store of value if one was willing to take the volatility.

[Daveeoff]

Bitcoin was created to AVOID banks and basically ruin them and you want the banks to use Bitcoin and even make BTC bank accounts? Funny.