Would cryptocurrency as a real currency be functional?

[tokenchatkelvin]

Other than companies which focuses on security and technology to improve their cryptocurrency, what do you think if cryptocurrency is a real currency? Would it be functional, effective, useful, convenient?

[squatz1]

The thing with Bitcoin is that it can be ever changing, so yes it could be functional in any circumstance. Becuase if we did hit the point where we REALLY needed to scale because a good amount of the world wanted to use Bitcoin, I think the miners would be able to do it -- I think they'd go for it too. Bitcoin isn't like anything else, we're able to do some crazy things if we need to -- like the lightning network which I really want to succeed.

So yes, I fully do think it can.

[Neelix]

It will be useful & functional once the security and scalability is at its best. Minimal transaction times and costs is why cryptos are so special and interesting to use as a currency. This probably is the most important usecase for the whole technology.

[Spazzer]

Yes. The technology is designed to be changed over time such as Lightening Network. It has a long way to go to be able to handle 7 billion users, but as technology and time progresses so does the change of this becoming a universal currency.

[R21]

Yes it is! functional as it's settings. bitcoin is a digital currency so it's also deserve technological activities. yes your explaining all attributes is have within bitcoin.

[yonghaseo]

The thing with Bitcoin is that it can be ever changing, so yes it could be functional in any circumstance. Becuase if we did hit the point where we REALLY needed to scale because a good amount of the world wanted to use Bitcoin, I think the miners would be able to do it -- I think they'd go for it too. Bitcoin isn't like anything else, we're able to do some crazy things if we need to -- like the lightning network which I really want to succeed.

So yes, I fully do think it can.

I do agree bitcoin can be functional being use as a real currency. In this digital world that we are currently deal with bitcoin can be a great tool as a mode of payment. Yes Bitcoin isn't like anything else, its flexibility and transactionally very convenient. Just a certain studies and public acceptability can make it posible.

[paynercash]

Cryptocurrency is the real currency they will be very useful, the transaction cost is very low, you can easily transfer and receive between countries without any intermediaries. Time is very fast, it only takes a few seconds to a few minutes. And you can take Cryptocurrency to any country you want without having to exchange currency. That is the benefit if cryptocurrency becomes the main currency of the world.

[Bonsaiav]

Physically, bitcoin isn't a real currency we can only see bitcoin in the form of value or the amount only. Bitcoin has a distinctive character that isn't owned by any other type of currency, that is functional. With its functional nature bitcoin is able to make its users feel comfortable and we can also use bitcoin in various ways either as currency, tradable item, or something that can be invested. Since the first time i used bitcoin on September 17, 2017 my economy has been helped and it makes me feel good so for me bitcoin is very useful and can be used as an effective solution.

[Qartersa]

Other than companies which focuses on security and technology to improve their cryptocurrency, what do you think if cryptocurrency is a real currency? Would it be functional, effective, useful, convenient?

I do not think so UNLESS it is EFFECTIVELY regulated by governments. You know, it is an innovation that comes with so much legal issues because it knows no jurisdiction to speak of. It actually encompasses and surpasses all States I know of, and guess what, it very well penetrated a good number of the populace. The encryption it was made of makes it very technical and thus difficult for governments to trace transactions for proper regulation in terms of identifying criminal activities (money laundering, drugs, and etc.) and taxation. If all data is heavily coded, it will be harder for the governments, respectively, to monitor all the aforementioned. If there is no proper taxation, for instance, how can governments sustain its cause? The effect would clearly be chaos as I see it. Imagine a world where people at large are given so much power in terms of how they handle their monies across borders? How dangerous that is.

[kache2018]

I think right now it is already since it is already disseminated amongst countries. Some of these countries even started it as a purchasing power to buy some necessities. Its a bit vague when you're asking cryptocurrency as a real currency. It is! why was it called cryptocurrency in the first place. Everything with value will be functional and will still be.

[OhhaniMaria]

Yes it would be, as long as the whole world could see the good things that cryptocurrency will bring to the new and next generations in the near future.  

[BrewMaster]

it is a new technology so unless it is put to test it can not be assessed properly.

you can see that bitcoin has been a very good and functional currency so far but as the adoption of it grows and as the spam attacks occur, it could not handle all the pressure. same goes with all of the altcoins, they fail the same or ever worse in some cases.
so now that we had this test we move ahead to find a solution for it. so far we are working on Lightning Network as one of the solutions for this problem.

good news is that bitcoin being open source and decentralized, it is evolving and being improved to fix the issues it is facing.

[paymentbit21]

Other than companies which focuses on security and technology to improve their cryptocurrency, what do you think if cryptocurrency is a real currency? Would it be functional, effective, useful, convenient?

  it is already a real currency, what else do you need to be real? works well plus e 'can be introduced into the hands, so what's the problem...

[belyaevi]

It will be useful & functional once the security and scalability is at its best. Minimal transaction times and costs is why cryptos are so special and interesting to use as a currency. This probably is the most important usecase for the whole technology.

I have got fed of of hearing the same things about bitcoins which are not true at all. You mentioned that bitcoins has minimal transaction time and low costs which is not true at all. If you have expereince of other payment options like PayPal, Stripe, Credit Crads, bank transfers all these are way faster in comparison to bitcoins. In case of bitcoins one has to still wait for 10-20 minutes (as per current situation) for a a transaction to go through. Most of the online deals and payments are done in seconds and thus bitcoin is impractical for those transactions.

[arseaboy]

Other than companies which focuses on security and technology to improve their cryptocurrency, what do you think if cryptocurrency is a real currency? Would it be functional, effective, useful, convenient?

If what you mean is for the daily usage then yes it can, just like how credit cards and debit cards if bitcoin system will be allowed inside the malls and supermarket then it will serve its purpose, we, inside the digital industry are embracing the use of crypto currency and we seen success what else if
we applied it in our daily life, crypto currency can be a good alternatives to avoid bringing cash inside your wallets and bags.

[Neelix]

It will be useful & functional once the security and scalability is at its best. Minimal transaction times and costs is why cryptos are so special and interesting to use as a currency. This probably is the most important usecase for the whole technology.

I have got fed of of hearing the same things about bitcoins which are not true at all. You mentioned that bitcoins has minimal transaction time and low costs which is not true at all. If you have expereince of other payment options like PayPal, Stripe, Credit Crads, bank transfers all these are way faster in comparison to bitcoins. In case of bitcoins one has to still wait for 10-20 minutes (as per current situation) for a a transaction to go through. Most of the online deals and payments are done in seconds and thus bitcoin is impractical for those transactions.

It's not about Bitcoin, it's about cryptocurrencies and its technology in general. And no, bank transfers are way slower, even than Bitcoin.
Probably one of the fastest with minimal costs currently is Stellar Lumens.

[gawer33]

if your living in inflating prices and your own currency is unstable like Venezuela yes it will be functional. in that kind of scenario, we can see the main purpose of cryptocurrency

[odolvlobo]

Other than companies which focuses on security and technology to improve their cryptocurrency, what do you think if cryptocurrency is a real currency? Would it be functional, effective, useful, convenient?

If it is not functional as a "real" currency, then there there is no point.

It will be useful & functional once the security and scalability is at its best. Minimal transaction times and costs is why cryptos are so special and interesting to use as a currency. This probably is the most important usecase for the whole technology.

I have got fed of of hearing the same things about bitcoins which are not true at all. You mentioned that bitcoins has minimal transaction time and low costs which is not true at all. If you have expereince of other payment options like PayPal, Stripe, Credit Crads, bank transfers all these are way faster in comparison to bitcoins. In case of bitcoins one has to still wait for 10-20 minutes (as per current situation) for a a transaction to go through. Most of the online deals and payments are done in seconds and thus bitcoin is impractical for those transactions.

1. In the U.S., a bank transfer takes a week.
2. A credit card transaction is done quickly, but the merchant doesn't know for months if the transaction will be reversed. A Bitcoin transaction is also done quickly, but it is final in 10-20 minutes.
3. Bitcoin is great for online purchases because the merchant can safely ship on the same day.

[jseverson]

Well with Bitcoin right now, you can send any amount of money to any corner of the world paying just a few cents/bucks, all without going through any red tape, unlike with banks. Wouldn't you say that the ability to do so is functional, useful, and convenient?

Another factor to consider is that this transaction is uncensorable; pay the proper fee and you can rest easy that your money will reach the other party, free of any interventions or accidents. Wouldn't you say that makes it effective?

Bitcoin is already being used as a real currency by many, and it's pretty damn good in my opinion.

[alexn3620]

This is more than possible and real. Many projects today are working on the creation of various sites for the integration of cryptocurrencies into real sectors of the economy. Therefore, functionality is just a matter of time.