How does bitcoin become a currency?

[BartS]

I prefer and agree if bitcoin does not become my currency prefer it as an investment commodity like gold / silver but in digital form, and I think if bitcoin remains an investment commodity it will be very good for economic development in all countries because it will not exist FIAT currency is replaced by bitcoin

You do not understand anything, gold and silver are a form of money and for thousands of years were the dominant form of money through the world, most people have no historic memory but this experiment in which all the currencies of the world are not backed by anything and are just a fiat currency has only existed since the seventies, that is right, this experiment has been live for a very short amount of time and it is already showing signs that it will fail.

[luckyluigi]

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.

We need to try bitcoin as an alternative payment method and only then after successful start of this, we can call it a currency. Because not using the coins as a payment method after all could not be better.

[henlity87]

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.

Bitcoin is a currency but for now, it is the advanced form of the currency which is known as the crypto currency or digital currency. The ones who are having this currency in their wallets can use it but still, the usage of the bitcoin is not that much common like that of the regular currencies. It has to take the legal permission from the government and that it should be acceptable at all the places to grade it as a currency.

Bitcoin is a currency from the day first it has been created. In fact in current time in most places people do not have the facilities to use bitcoin as currency therefore they are mostly use it for trading and investment purposes. But I think that in near future when they will have the facilities to use bitcoin as currency they will surely start using bitcoin as currency.

[quichiship]

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.

First of all it seems logic that bitcoin should be more stable priced in order to become a currency because it would be otherwise really hard to use it when it will have so volatile price, my country is already have a jumping good price.

Maybe you're not aware but bitcoin is already a currencies.  You might think that bitcoin can only use in investment and holding for long term but let me aware you that we can not only invest but we can buy things from it.

[Voidcrafter]

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 do not think that bitcoi is now a currency, I consider it an asset that can be compared to gold or silver. I think, because of its weak payment capacity per minute, the price for processing the payment and much more. I would bet on bitcoin cash, which can become the first currency of bitcoin.

[valentine401]

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 do not think that bitcoi is now a currency, I consider it an asset that can be compared to gold or silver. I think, because of its weak payment capacity per minute, the price for processing the payment and much more. I would bet on bitcoin cash, which can become the first currency of bitcoin.

Bitcoins is an asset before but as soon as the market price of cryptocurrency rise up then now it was considered as currency which some online stores are accepting crypto as a payment method.

[ValerieBTC]

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 do not think that bitcoi is now a currency, I consider it an asset that can be compared to gold or silver. I think, because of its weak payment capacity per minute, the price for processing the payment and much more. I would bet on bitcoin cash, which can become the first currency of bitcoin.

But I think that bitcoin is both a currency as well as assets. We can see that from the very beginning people are using bitcoin for online shopping, even now the use bitcoin is possible in offline shops, in some modern cities, people are even using bitcoin for shopping in their local shops. Therefore we can consider bitcoin both online currency as well as assets.

[Marierobinson16]

I think the fact that we feel right now is Bitcoin is already a currency, this is because almost all the functions of currency can be replaced equal bitcoin, the thing that is still a lack of bitcoin is not able to be used for transactions directly like cash.

[matthew1981]

Bitcoin is an electronic cash so it is form currency. Which can be use for transaction as a mode of payment. Buying some stuff or for paying bills. In other word btc is a currency.

[harimauagam]

only through a bank that has been determined for a solid payment even though the current price of gas is high and maybe this is the right time we should not use the things that are not important.

[LooBaao]

How is that a pretty broad issue, so join the BTC for speculation about not being too fancy about them, forever forever becoming common currency.

[Ailmand]

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 agree. It's onset and invention was geared to have an alternative or another option so-to-speak to pay for good and services. Although it has long since evolved into other users such as a means of investments, it can still be considered a currency because it possesses value in order to be used as how money is used at its most basic way. Having said, that characteristic makes it a currency together with its other uses.

[QuadeBarrier]

Bitcoin is a currency, because it can be readily transferred from one person to another, for something else. But for Bitcoin to become a mainstream currency it needs to be stable and not so volatile. A merchant can't sell you something for $100 worth of Bitcoin and then have that value go down to $70. For it to become a mainstream currency it would probably need to be adopted by a government, backed by them, and that could give it some stability. But what strong government is going to do that, especially when in the beginning is not going to be stable. Will probably see it pump Bitcoin to astronomical levels, only to have it crash hard, hurting the country.

[BitcoinMarketer39]

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, now a days bitcoins is already considered as a currency but specifically as a digital money since there are online stores like amazon who are accepting cryptocurrency payment method.

[dillema018]

I prefer and agree if bitcoin does not become my currency prefer it as an investment commodity like gold / silver but in digital form, and I think if bitcoin remains an investment commodity it will be very good for economic development in all countries because it will not exist FIAT currency is replaced by bitcoin

You do not understand anything, gold and silver are a form of money and for thousands of years were the dominant form of money through the world, most people have no historic memory but this experiment in which all the currencies of the world are not backed by anything and are just a fiat currency has only existed since the seventies, that is right, this experiment has been live for a very short amount of time and it is already showing signs that it will fail.

Bitcoin is no exactly a currency, yes it has a value but the government doesn't accept it as one of the currency, it is a digital money and will soon be accepted by the people in the world, Bitcoin is preparing itself to be a currency some day and when that happens, It will be the users and the holders will have the smile on their ace and says It succeeds.

[Donationcoin]

In my opinion in order to become a currency bitcoin needs to get some stability more than it gets right now, because having all those things like in 2017 just imagine how would you react if bread in the store will cost 10 times more than it cost yesterday.

[Demanderoca]

Bitcoin is something that holds significant value. It is created by digital and used by digital. It can be convert to any country currency like a real currency. Because of this, using the real currency from the convertion of digital currency to real currency, we can now used it to buy, invest, saved etc. depends on the person who is holding it.

[Sandijoee]

In my opinion, if bitcoin wants to be money. Bitcoin must develop and all countries in the world must accept bitcoin, especially the government that must accept bitcoin.

[qwerty12]

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 the case of Bitcoin, this condition can be measured by the growth of users, sellers, and initial users. Like other currencies, the value of bitcoin comes only from people who want to accept it as a payment instrument.

[nagobinga]

only through a bank that will go through the best transfer such as BRI and it is very long to wait for a suitable sale and purchase in the free market nobody will know unless the person who transfers it needs a lot of gas and a good start from the beginners according to the plan .