How does bitcoin become a currency?

[Okrah]

In the beginning, BTC could be used to exchange of low value of virtual items, such as buying web sites or game points, virtual items, etc., afterwards, some people in order to get these virtual items, items may be in online auction own reality for BTC, others want to buy the real goods, but no BTC at hand, and then use real money to exchange BTC, as a result, BTC begin to flow, and have a "value".


In other words, bitcoin is inherently valuable as a means of payment; If it loses its function as a means of payment, it becomes worthless.

The value of money: it exists because of payment.

I think bitcoin now..are use as payment in some other country's that accept bitcoin as legal. So for me bitcoin is already accepted also as a new currency because many big industries and company are using also bitcoin as their payment of their transaction made.

[Dark Sky]

In the beginning, BTC could be used to exchange of low value of virtual items, such as buying web sites or game points, virtual items, etc., afterwards, some people in order to get these virtual items, items may be in online auction own reality for BTC, others want to buy the real goods, but no BTC at hand, and then use real money to exchange BTC, as a result, BTC begin to flow, and have a "value".


In other words, bitcoin is inherently valuable as a means of payment; If it loses its function as a means of payment, it becomes worthless.

The value of money: it exists because of payment.

I think bitcoin now..are use as payment in some other country's that accept bitcoin as legal. So for me bitcoin is already accepted also as a new currency because many big industries and company are using also bitcoin as their payment of their transaction made.

Yes many countries are already accept this currency as use  payment and that's why many shops and other buying areas bitcoin use in payment and they are really happy because bitcoin is provide them best benefits but most of countries are not accept this currency and they didn't know it will give them a lot loses and that's why their people are face many difficulties about bitcoin, so they are hopping their government will accept very soon.

[Vaskiy]

From my understanding bitcoin got innovated as a technology based asset to make advancements to the banking community fulfilling certain elements that were a big task on a banking system. At the beginning it simply started as a token with small value and the same further kept its usage diversified over various sectors. At some point people started giving importance similar to currency as the value peaked. Later it became an investment that could give a profit which we cannot get anywhere else.

[MedicineVNT]

For a bitcoin to become a currency, it must be accepted by all governments where the bitcoin is circulated and there must be a law that specifies bitcoin so that bitcoin can operate legally and conveniently.

[Financial Freedom 4U]

As I mentioned alread, people need to do more purchases with Bitcoin, less trading. Yesterday I bought something online and they gave additional discount if you paid with Bitcoin.

Pundi X is working on a device that also enable a retail store to accept Crypto (several coins are supported, not only Bitcoin but Stellar, Wan and others). I am certain if this takes off the market will explode.

[orarider]

I think that in order for bitcoin to become a currency, people have to manage it. Bitcoin is taxable. Transactions in bitcoin must identify who performs.

[breathlessz]

I think that in order for bitcoin to become a currency, people have to manage it. Bitcoin is taxable. Transactions in bitcoin must identify who performs.

i think the key is the role of government. if many countries legalize it, i think it could be a currency. but i think there are still many problems to get there. because the government has not found a policy about it

[sumanto]

bitcoin can be a currency because bitcoins have value from buyers and sellers and from the difficulty of getting bitcoin so many people buy and no one sells it at cheap prices so bitcoin can have a sell value and can be a currency.

[pokeronlinestatus]

And what about common money? They also exist and used as a method of payment, and nothing more. Maybe I just don't get the point, can you please explain more precisely what you're trying find out?

Well I don’t know much about this person and his statement but as long as I understood the point, common money or fiat that we are using right now in the world wouldn’t be seized to death even when this bitcoin cover up the whole world. Things take time and this will take too and very long time to make a system where fiat and crypto both exists with harmony and peace.

[Sled]

And what about common money? They also exist and used as a method of payment, and nothing more. Maybe I just don't get the point, can you please explain more precisely what you're trying find out?

Well I don’t know much about this person and his statement but as long as I understood the point, common money or fiat that we are using right now in the world wouldn’t be seized to death even when this bitcoin cover up the whole world. Things take time and this will take too and very long time to make a system where fiat and crypto both exists with harmony and peace.

The fiat money will stay to what they are right now and they will just evolved and i agree that it will not be seized because fiat money is supported by the government which government is the strongest type of organization since they are the one who are leading and regulating the country based on their orders.

[Cinemo]

In the beginning, BTC could be used to exchange of low value of virtual items, such as buying web sites or game points, virtual items, etc., afterwards, some people in order to get these virtual items, items may be in online auction own reality for BTC, others want to buy the real goods, but no BTC at hand, and then use real money to exchange BTC, as a result, BTC begin to flow, and have a "value".


In other words, bitcoin is inherently valuable as a means of payment; If it loses its function as a means of payment, it becomes worthless.

The value of money: it exists because of payment.

Bitcoin is the future of cryptocurrency. I do believe in the world is to give up. Cause bitcoin is our cryptocurrencies cause a good job, but we are respectable with cryptocurrency and especially in the right direction. Cause bitcoin are not a new cryptocurrency that they belong in the right

[spartanrules]

Telling honestly I don't think that Bitcoin really become a currency in the nearest future. It became high liquid and rentable asset for golding but not currency because of high fees for transfer through blockchain and low speed of transfer.

[stayeduptolate]

In the beginning, BTC could be used to exchange of low value of virtual items, such as buying web sites or game points, virtual items, etc., afterwards, some people in order to get these virtual items, items may be in online auction own reality for BTC, others want to buy the real goods, but no BTC at hand, and then use real money to exchange BTC, as a result, BTC begin to flow, and have a "value".


In other words, bitcoin is inherently valuable as a means of payment; If it loses its function as a means of payment, it becomes worthless.

The value of money: it exists because of payment.

I think bitcoin is not a currency yet and moreover bitcoin is still in lot of controversy because of its investment use only so the journey is quite very very difficult in becoming a currency, we all know that bitcoin is very very profitable in terms of investment and no doubt bitcoin is inherently valuable as a means of payment and moreover in therms of investment but bitcoin will be declared as a currency only when it will get centralised and get legalised world wide globally.

[Choii]

Bitcoin is already a currency, it does not need to become one. You can buy and sell things with bitcoin and that is what a currency is for. Although now I think people use bitcoin as more of an investment than as a currency but that does not mean that bitcoin has stopped being a currency.

Yes, you are right because nowadays you can buy some stuff using bitcoin or any crypto currency , but i think the OP want to say is how bitcoin become a fiat currency. Anyways, bitcoin is a digital currency that we can use to store, transact, exchange and pay, etc.

[RainyDay23]

The majority of stores have to start accepting it. And people have to start using it as a payment. Like the guy who bought two pies of pizza's for 10,000 Bitcoins. 

[Portia12]

In the beginning, BTC could be used to exchange of low value of virtual items, such as buying web sites or game points, virtual items, etc., afterwards, some people in order to get these virtual items, items may be in online auction own reality for BTC, others want to buy the real goods, but no BTC at hand, and then use real money to exchange BTC, as a result, BTC begin to flow, and have a "value".


In other words, bitcoin is inherently valuable as a means of payment; If it loses its function as a means of payment, it becomes worthless.

The value of money: it exists because of payment.

Bitcoins is not a currency before but as the time goes by there are a lot of people who are using bitcoins in their daily needs and there are also online stores who are accepting cryptocurrency then eventually bitcoins has been recognized as a currency.

[gowobonyok]

bitcoin should be more stable. although not worth the investment, bitcoin has to play a major role in inflation and deflation that has a major impact on economic growth.

[pandanaran]

In the beginning, BTC could be used to exchange of low value of virtual items, such as buying web sites or game points, virtual items, etc., afterwards, some people in order to get these virtual items, items may be in online auction own reality for BTC, others want to buy the real goods, but no BTC at hand, and then use real money to exchange BTC, as a result, BTC begin to flow, and have a "value".


In other words, bitcoin is inherently valuable as a means of payment; If it loses its function as a means of payment, it becomes worthless.

The value of money: it exists because of payment.

Ok, at first bitcoin is valuable because the technology ledger that is very effective and efficient to become a means of payment (transaction), then demand on bitcoin is increasing from year to year, as market demand rises then the value also rises, in fact it is as you say in the beginning , but if we look at the fact now that bitcoin is not desirable for payments because of the high fees and now bitcoins into assets that make the value there.

[cah ndablek]

Perhaps the role of government is in need to make bitcoin can be made as currency in the future because to the automatic inauguration of the residents do not become afraid when investing and make bitcoin as a means of payment of various online businesses.

[lehuong]

In order for bitcoin to become a currency, there must be an acceptance of the bank's government and the protection of state law, and a mechanism for bitcoin to operate and develop as a currency.