How does bitcoin become a currency?

[lopez cryptomania]

It first needs to go viral and massively adopted as a new asset class. Once this happens you will be able to spend BTC commercially on virtually everything. One of the companies that is going to help make Crypto mainstream with their Arbitrage exchange is this one, https://bitcointalk.org/index.php?topic=3085831.0

[ArnoldChippy]

So practically bitcoin was used as a means of storing value. Due to the fact that it has become very rare to sell, it continues to increase in price. This is unlikely to be good for bitcoins and for crypto currency in general and so that's it no other than.bitcoin can make money  .that's why very nicely.

At this very moment, most of the people who have bitcoins in their wallets are only treating it as an asset and that is because of the reason that the usage of the bitcoin as a money is not that much common because there are not much places which have started accepting bitcoin as mode of payment. However, there are likely chances that bitcoin will also be treated as money in near future.

Yes that is right to say but i think that bitcoin was first create as currency, and currently people are using it as for investment and trading purposes, because most of the people in current time do not know about bitcoin and therefore they are not using bitcoin as currency, in fact all the facilities of bitcoin still are not available everywhere.

[BulbaLord]

How does? Bitcoin become currency.  Because bitcoin  you can use it in online transactions  like buying items in online shop. And bitcoin is very useful  because easy transaction.

[wireless1889]

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.

In opinion bitcoin is just an investment. Many stores and shops don't accept bitcoin as a payment because the fact that it's value is never stable and can go down to bits in any time will make it dangerous and can cause loss in economy of the shop. It is an investment for me because you get profit in a span of time which is waiting for the value to inflate and then selling it. Bitcoin will only become a currency once its value is stable and is in a steady state which makes it a currency.

[lelylely]

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 indeed a crypto currency that has the potential to continue to increase and many people want to own it so bitcoin is becoming more popular. Bitcoin is not just a currency, but bitcoin can be a good and profitable investment.

[developer101dev]

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 not considered as a currency before because the value is very low but as the time goes by, the investors are started to get interested into cryptocurrency and that is the reason why bitcoins is very expensive today and most of the people are starting to invest and use just like the credits cards.

[Btcwashu]

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 not considered as a currency before because the value is very low but as the time goes by, the investors are started to get interested into cryptocurrency and that is the reason why bitcoins is very expensive today and most of the people are starting to invest and use just like the credits cards.

Bitcoin is considered as a currency because it has a value and you can use bitcoin as a payment of all your purchase through online and bitcoin can be converted as any currencies in different countries. With this you can consider this as a currency.

[Persiville]

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 not considered as a currency before because the value is very low but as the time goes by, the investors are started to get interested into cryptocurrency and that is the reason why bitcoins is very expensive today and most of the people are starting to invest and use just like the credits cards.

Bitcoin is considered as a currency because it has a value and you can use bitcoin as a payment of all your purchase through online and bitcoin can be converted as any currencies in different countries. With this you can consider this as a currency.

As someone saying before it was not considered as a currency? are you serious? because as far as i know since then bitcoin was made as a currency, and have you ever read about the traditional system of market or business? since then trading is one of them, and by any means, an exchange of a service or any goods are traded with something valuable. That is how buying and selling started but as of now it has been modified in addition of currencies.

[Siren]

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.

What do you mean by worthless if value is loses?you have said that its inherently used for payments,then why is it you dont believe its currency?considering theres no bitcoin,what will you use for payments?its currency right?so if you use bitcoin to pay it then bitcoin is currency too?dont make this a big issue because as i see youre using bitcoin tp pay your transactions or billings too

[Ammenz]

BITCOIN  is a dogital asset design buy its inventor,satoshi nakamoto to work as a currency.

[rejekinomplok99]

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 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. Bitcoin is payment system.

[maitexisi]

There are two sources of currency demand: transaction demand and investment demand.

Bitcoin (and other digital currencies) may be able to find a place in countries and financial systems where traditional monetary functions are not well implemented, providing a viable alternative currency.

[Pier7]

Bitcoin is a digital currency and it is used for online payments to selected merchants who accepts it. It works like our local currency but it has no physical form, it only works on the computer over the internet. We can purchase items from abroad by paying through bitcoin without passing through any third party for approval, it is a direct transactions to anyone and it is cheap and fast.

[Piggymonster]

Bitcoin becomes currency because it is now an accepted form of payment to dozens of countries around the world. It functions like our local currency but it doesn't have any physical form. It is a digital currency that functions only with the use of computers and internet.

[rudito]

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.

The more people use bitcoin the bitcoin value will increase, and since bitcoin has value then bitcoin will be used to transact, and with it bitcoin can be called as currency.

[Colt22]

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.

The actual point is that bitcoin was created as a currency for online goods to buy and sale so it was already in the minds of all of its users that it is a currency and one day they will be able to buy things with this currency so people were in the struggle to start services with this currency and one day it became happen and people started to use it as a currency for their dealings.

[justdimin]

Bitcoin is a digital currency and it is used for online payments to selected merchants who accepts it. It works like our local currency but it has no physical form, it only works on the computer over the internet. We can purchase items from abroad by paying through bitcoin without passing through any third party for approval, it is a direct transactions to anyone and it is cheap and fast.

Yeah, but in as much as we all know that for sure, how many people today really make use of it as a currency. I know there are some who do, but I feel we have not really gotten much to that stage where we get to start seeing real life usage, but it something we are approaching gradually.

A lot of people have turned it to being an asset more than a currency and waiting for the day it would hit that huge amount and by then, I am sure we should have hit some level of mainstream adoption driven by currency usage demand, so we just have to wait for it, but for the time being, I do not see it as it becoming worthless.

[cizatext]

What ever made bitcoin as a payment method for online stuffs such as you have mentioned is the same that made bitcoin a currency, what is even a currency by the way a currency is any thing that is generally accepted as a means of payment for goods and services and that is the service bitcoin is offering us today. I don't believe bitcoin can ever lose it value because bitcoin is highly design to meet the transaction needs of the people.

[LeaderAMB]

Bitcoin was developed in 2009 but has gone through many periods of difficulty with virtual currency, many claims that Bitcoin is in the same position today thanks to the investment of significant financial distributors. Bitcoin is one of the fastest growing platforms.

I can say bitcoin at present time is the fastest growing platforms indeed because we have notice many users has known bitcoin widely. Others define bitcoin as currency for some reasons, but time passed it has many usage. But no doubt bitcoin features is good that adopts by many people.

I think that because bitcoin develops too fast that leads to the reason why most of countries are afraid of it, especially most of governments try to reject it, even they give too many methods to ban people from using. Evidently the supply and demand of bitcoin is getting increased every single day. Inherently it’s a currency because we can use it to buy goods or services in some places  but just not completely accepted worldwidely by the time. It will be more great if someday bitcoin can be accepted in most parts of world which provides us the chance to use it easily and worldwidely.

[Bagaji]

Bitcoin become a currency because we the member of the community believe it can serve as a mode of payment for goods and services and that is how bitcoin became a currency and it will continue to be so long we value it, but anybody may have a contrary opinion to this my view anyway.