How does bitcoin become a currency?

[doraegun]

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 also a currency through using new technology method which is VIRTUAL CURRENCY using COMPUTER and any GADGETS, this is not physical currency like fiat money but for making transaction it is also same as Fiat money you can pay it any time anywhere you want. Within a few minutes processing has been made that's the a good value of bitcoin. same process to fiat money but more upgraded actually.

[panfils]

There are some limitation which stop bitcoins from being used as a currency. For instance, the transactions are not instant and it is a big limitation in my opinion. 

[BelieveInBTC]

There are some limitation which stop bitcoins from being used as a currency. For instance, the transactions are not instant and it is a big limitation in my opinion. 

Bitcoin on-chain transactions are not instant but that's why we have Lightning Network which allows for instant and extremely cheap payments. It is not perfect solution, you have to know how to use it at this moment because there are not many users there. However we are on a good way to make Bitcoin more popular.

[5ensei]

Bitcoin can be used as method of payment but altcoins are coming out to provide a different service as well which is reducing the market for bitcoin payments. For a private and anonymous transaction they will use one of the privacy coins instead, or for games using a gaming altcoin.

[totaleclipseofthebank]

There are some limitation which stop bitcoins from being used as a currency. For instance, the transactions are not instant and it is a big limitation in my opinion. 

I don't deny that there are some limitations that bitcoin is facing at the moment but from my point of view, I don't suppose that transactions speed is one of them. Maybe it's not that immediate but it's still faster and easier to make transaction with bitcoin than the traditional ways. I think that what prevents bitcoin from being entirely a currency is that many countries are still having misleading thoughts about bitcoin and some even ban it. I hope that one day the governments would change their minds and bitcoin would eventually become an international currency.

[gamalzour]

Bitcoin becomes a currency by its name as a coin which is circulating in the internet as also a medium of exchange and are use and accepted by people worldwide

Different people have different rays about bitcoins. Some consider them as coins and some consider them as currency. I consider them better source of earning money for medium level people. We can’t just live a healthy life over salaried job because expenses are much more than our salary. So almost everyone here wants some other source of income and bitcoins are the best.

[Sled]

Bitcoin becomes a currency when you use bitcoin to do payments instead of the fiat money or the regular currency that we have and currently been using for day to day basis. Bitcoin is a really great cryptocurrency and back in the old days, it is the first option to make payments online in the deepweb because of its features but now since there is a lot of privacy coins, bitcoin is just serve as a store of value or an investment.

[Ewinsane]

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 like store of value and its more like gold in real world. If bitcoin used for payment, bitcoin only have 21million supply and its too little if used for payment. Some peoples using bitcoin for payment because bitcoin is cryptocurrency and can be used for payment and an assets

We have seen a lot of improvement in the world of the crypto currencies and that all the crypto coins especially bitcoin have started making much better reputation amongst the investors and that because of which, the demand of the crypto coins is also increasing at a significant rate.

Bitcoin will become a currency and that there are likely chances that people will start using like the way they use their normal regular currency.

[lehuong]

For bitcoin to become a currency, bitcoin should first be recognized
The second law that is bitcoin can be printed in paper money want to get this bitcoin is needed at the transaction point to exchange as ATM card now and that is a long process.

[slapper]

For bitcoin to become a currency, bitcoin should first be recognized
The second law that is bitcoin can be printed in paper money want to get this bitcoin is needed at the transaction point to exchange as ATM card now and that is a long process.

I do agree that for bitcoin to be a currency, it needs to be recognised legalised by all of the governments but I don't get it why it needs to be printed into sheets of paper like fiat money. The nature of bitcoin is digitalisation, which is supported by blockchain technology, and this is also what differ bitcoin and cryptocurrencies from other types of currency. So if we turn bitcoin into something that we can physically take hold of, we eliminate the real meaning of bitcoin and it will become just like fiat money.

[SirLancelot]

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 like store of value and its more like gold in real world. If bitcoin used for payment, bitcoin only have 21million supply and its too little if used for payment. Some peoples using bitcoin for payment because bitcoin is cryptocurrency and can be used for payment and an assets

The Bitcoin is a currency as we can use it as payment method and using as transaction to others which is in our benefit. Its use makes it a currency and we need it for our transactions and other money related payments.

We use this fast transaction method which is frictionless and your receiver will receive the amount instantly if he is wherever on the earth. Governments are now in this to count it as an asset so they may be able to get taxes over it but it is a currency.

[EnricoGomez]

Yeah, I think everyone knows that bitcoin will lose its value if no one will use it - basic concept of demand and supply, which is quite not possible at the moment as a lot of people believe in it unless maybe something wild happens to bring to its downfall.
I do agree to everything you said, bitcoin was introduced to be a currency.

[manismanja]

bitcoin can be a currency because bitcoin has a very high demand that makes bitcoin has a price and bitcoin can be money because bitcoin can be used to do payment when you buy something.

[Flickkk]

because bitcoin was accepted by many people/community to be use as a medium of transaction.
and as far as i hear from my friend long time ago  they use bitcoin to buy Pizza.
and Deepweb uses bitcoin for some Transaction and

[sepeda karat]

The currency of Fiat is mostly traded locally besides the universal usd. But bitcoin is outside and almost all countries, so the opportunity can not be used because payment is a fantasy or total misunderstanding about the use of cryptocurrency worldwide.

[DMCR lah]

BTC can be used to exchange the low value of virtual goods, such as buying websites or game points, virtual goods, etc., After that, some people to get these virtual goods, the goods may be in the online auction of its own reality for BTC, which others want to buy real goods, but there is no BTC in hand, and then use real money to exchange BTC, as a result, BTC starts flowing, and has a "value".

[zhekinsp]

Bitcoin was created as currency when it was created by satoshi nakamoto,but it had value when people starts using it continiously and all the products in the world have the value by its demand and supply.

[Twentyonepaylots]

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.

Bitcoin is not a real currency it is the virtual one. It is created by digitally and use by digitally. In my opinion it a currency because it doing all those things which are done with the help of real currency but in digital way. Many online merchants and business using Bitcoin as trading tool. They taking Bitcoin instead of real money from their customers. Bitcoin  is also use to pay monthly rents, EMIs, water and electricity bills etc. Bitcoin is also convert to any country currency like a real currency. And like this there are some other uses of Bitcoin is present which are comparable to real money 

Bitcoin is a crypto currency, its been used by investors thru trading, and the new comer in the crypto currency market. the growing acceptance on Bitcoin as one of the top coin posted on the market, indicates that they been following,investing on Bitcoin, i am looking forward that Bitcoin will be use as a mainstream currency in the future replacing FIAT money.

[ceylan]

I's clear that Bitcoins have no intrinsic value because it's a digital currency. But since they were introduced to the world in 2009 by unknown inventor Satoshi Nakamot ..IT has turned into a billion-dollar market and have been designated a currency by the U.S. government... this is what i know about BTC

[paparexon0414]

First of all, i dont think bitcoin is a currency. It was just named "e-currency" because it is used online to pay products that is direct payment to the merchant without using any third party (in short, convenience). Something is instill in my mind that bitcoin has no real value at all, it just a representation of money. And this idea have a point. It is just very popular that people think its really have a value. So i guess the questions is kinda no answer as to my insight.