How does bitcoin become a currency?

[inspirone1]

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 my opinion the first step to bitcoin to became a Hershey is to became an alternative payment method because in my opinion also none of the countries would allow bitcoin to became a main one from the beginning.

[darewaller]

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.

This is not a question and Bitcoin is not a real currency, it is just for making payments peer-to-peer. If you read about it you must have known that it was made for the purpose of sending and receiving money online. So anyone that defines it in a way different from that is telling you lies.

Although really changed due to the value of Bitcoin that kept increasing due to demands for it, and now most people come with the purpose of HODL till the price goes up so they can make profit.

[BitRentXx]

I think bitcoin has failed with its main vision to be the world's currency, just imagine where maybe 21.000.000 bitcoin is shared for the whole world.
but now bitcoin has been a successful investment tool, and I think it goes beyond the previous bitcoin goals.

[derocas]

Bitcoin is as of now a money, it doesn't have to end up one. You can purchase and offer things with bitcoin and that is the thing that a money is for. Albeit now I think individuals utilize bitcoin as a greater amount of a venture than as a money however that does not imply that bitcoin has quit being a cash.

[Zabzab9]

Bitcoin can use as payment of online market. The process of transaction is being done using BTC. It also has value for different prices.

So, I would say that Bitcoin is a currency.

[Ericgreen]

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.

I do not think that these requirements are necessary for bitcoin to become a currency. Bitcoin is created as an online currency and we are already using it as a currency for purchasing different things. I think that the most important is that bitcoin users should be increase so that they can give more support to bitcoin.

[eduardoabordo]

i don't know the answer based on my understanding bitcoin become of digital currency because we cannot touch it but we can swap it in money using the blockchain and you can also use buy item's in the website using bitcoin but it depends if they want to use bitcoin it's look like money and took like a card.

[marginal]

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 my opinion fastest way to bitcoin to become a currency as well I would be able to become that in the developing countries all around the world, when it would be accepted on government or level to use bitcoin as a payment method.

[Findingnemo]

The currency means if someone can exchange it and it should have value,I think the bitcoin satisfy this requirement so this can be called as a currency too.But until now the bitcoin acceptance as currency is vey rarw we are just using it for the trading of the rypto currencies soon might be the world will adopt to the system where bitcoin will be the main currency.

[TheNotoriouss]

pretty simple, after ico probably. Will you invest in ICO this summer guys? Have you heard about Kelvin Blockchain? I'm willing to invest into it, kindly waiting for your feedback.

[Edraket31]

The currency means if someone can exchange it and it should have value,I think the bitcoin satisfy this requirement so this can be called as a currency too.But until now the bitcoin acceptance as currency is vey rarw we are just using it for the trading of the rypto currencies soon might be the world will adopt to the system where bitcoin will be the main currency.

It is on the people  how they are going to use bitcoin as a currency if people will gonna use this as such for the payment for their bills etc and will  use to remit money to their loved ones then bitcoin will be considered as a currency but nowadays I think that many people are using this as a way of investment rather than currency.

[Elwin_Dog]

The currency means if someone can exchange it and it should have value,I think the bitcoin satisfy this requirement so this can be called as a currency too.But until now the bitcoin acceptance as currency is vey rarw we are just using it for the trading of the rypto currencies soon might be the world will adopt to the system where bitcoin will be the main currency.

It is on the people  how they are going to use bitcoin as a currency if people will gonna use this as such for the payment for their bills etc and will  use to remit money to their loved ones then bitcoin will be considered as a currency but nowadays I think that many people are using this as a way of investment rather than currency.

Precisely. Where it goes next is in the hands of the people who use it. I think that the speculative bubble made it an attractive investment for most people (for a certain amount of time) but now that things have settled a bit, and the dust has cleared, we're starting to see that it has more potential than just a speculative roller-coaster. I try to use it myself for daily payments, and I hope others do too, so it can gain trust as a method of exchange. People are still uncertain but we should just keep using it safely to build up confidence.

[Himanshu111]

The currency means if someone can exchange it and it should have value,I think the bitcoin satisfy this requirement so this can be called as a currency too.But until now the bitcoin acceptance as currency is vey rarw we are just using it for the trading of the rypto currencies soon might be the world will adopt to the system where bitcoin will be the main currency.

It is on the people  how they are going to use bitcoin as a currency if people will gonna use this as such for the payment for their bills etc and will  use to remit money to their loved ones then bitcoin will be considered as a currency but nowadays I think that many people are using this as a way of investment rather than currency.

Precisely. Where it goes next is in the hands of the people who use it. I think that the speculative bubble made it an attractive investment for most people (for a certain amount of time) but now that things have settled a bit, and the dust has cleared, we're starting to see that it has more potential than just a speculative roller-coaster. I try to use it myself for daily payments, and I hope others do too, so it can gain trust as a method of exchange. People are still uncertain but we should just keep using it safely to build up confidence.

When whole of the world and all the people start using bitcoin without any restrictions or difficulty.In order to become a currency bitcoin needs to be accepted internationally,transactions should be done through bitcoin,central banks and governments should support bitcoin,traders should trade bitcoin,payment of bills by bitcoin etc.People should be able to exchange bitcoin with fiat currency.The blockchain technology should be made simpler even for an illiterate person.

[Spend.com]

To be an actual currency it needs to be widely accepted by governments. Since it's decentralized I don't think it will ever be accepted as a currency. However becoming a means of value and payment instrument is definitely the shape it's taking. Companies like ours however create protocols to make bitcoin used as a currency in every day commerce.

[GangNamSK]

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.

I think so too
Bitcoin has innovated as an asset based on the most advanced technology.
First it simply begins as a token with a small value and further keeps it usefully varied in different fields.
At first it was just normal parameters it increased later and its value to the community its profit margin was quite high.

[Polkadott]

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 in my opinion is not as currency but bitcoin is more as a promising investment than gold, besides bitcoin can also be converted to local currency. and after that bitcoin can be used for transactions to buy our needs. So my conclusion is bitcoin can be labeled as currency but indirectly

[MelissaBarnett1212]

For a bitcoin to become a currency, it is possible for the person who made it to become a currency that can not be controlled by the bank. In other words, this currency can pay for any item

[jayhawk1]

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.

The role of the government of different countries is something which will play vital role in helping and promoting of the different crypto currencies and that I am very much sure that if things keep on happening in the similar way, then there will come a time when we will be experiencing these crypto currencies taking lead over the regular currencies which are there in this world.

[coinfinger]

Bitcoin can use as payment of online market. The process of transaction is being done using BTC. It also has value for different prices.

So, I would say that Bitcoin is a currency.

Yeah this can be considered as currently because it is being used in garment shops and food restaurants etc. people are now using them for making their lives easier. They are enchain their living standard from this crypto world. So yeah we can call them as currency. It is more than a source of income now as well. They are being used for making good earning source.

[ladner]

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 that bitcoin can only become a commodity for exchanging between USD and altcoin and not be able to monetize, you can see that the amount of bitcoin in the world is very limited and if inflation happens we can not Any more bitcoin will be printed and this will gradually lead to social sluggishness and can not develop.