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Author Topic: How does bitcoin become a currency?  (Read 1565 times)
nagobinga
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August 10, 2018, 06:00:53 PM
 #301

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 .

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bobthegrownup
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August 10, 2018, 06:03:12 PM
 #302

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.

It can also exist as a store of value -- kind of like gold. Gold is impossible to use when it comes to buying small items like a pack of gum, but it can be used to make "paper money" that is backed by gold. So, bitcoin can be digital gold that is used to "back" other currencies, even dollars!
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August 11, 2018, 09:50:33 AM
 #303

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.

People can help btc now become their payment and investment. so bitcoin requests must always be in a crypto. from there that makes crypto a digital payment facility. In addition to being easy and simple, crypto also gives a very very small fee. so it is good for small or large nominal payments, and all is done in real time.

I know there's no physically use of bitcoin its internet currencies so we can only order items online.I believe people are using bitcoin as a currencies or online payment more than investing.
Andrew S
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August 11, 2018, 11:05:14 AM
 #304

Bitcoin is already a currency, as they can make completely real transactions, such as buying a house, paying bills, etc.
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August 12, 2018, 10:18:12 PM
 #305

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. Smiley
This needs more time to show that it has a strong community value. Of course, what can become a currency only appears in the future. At present, not yet, because many other reasons are still not resolved.

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August 12, 2018, 10:34:45 PM
 #306

The real purpose I guess why bitcoin has created because of a digital money or a virtual currency, an alternative for our fiat money. But because bitcoin is getting more valuable year after year, the people make bitcoin as an asset and instead of using it for buying goods and payment purposes, most are keeping it in their wallet as an investment waiting to gain more profit before selling it. But to some, they are merely using bitcoin as a digital money for buying and paying reasons.
johnalyn
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August 12, 2018, 10:57:21 PM
 #307

Yes of course all currency before started to be a exchange and it started to be a currency because of people who used it as a payment in their online transacrions that would be easy to them to pay anything online. And also they make it as a investments to offer in any company that they wanted to invest with it.

Bohxz M4p4gm4h4l25
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August 12, 2018, 11:09:56 PM
 #308

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 considerable as currency because Bitcoin is a flexible crypto which allow everybody to used it as medium of payment and transactions which a lot better than the usual and I think we can consider Bitcoij as currency in such that it acts like one , it has the fundamentals of currency that we have taraditionally like depreciation and fluctuation it just that in crypto it rapidly occur.

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katri
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August 12, 2018, 11:17:26 PM
 #309

The evolution of bitcoin become know when investors sees the potential of bitcoin as a form of investment. This draw so many people to engage to cryptocurrency as a result many altcoin were created to compete the success of bitcoin. Payment method is rare today, some establishment is do not accept crypto for the exchange of their product because of volatility.
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August 12, 2018, 11:24:26 PM
 #310

Bitcoin is the currency because transactions are the same as currencies. Even bitcoin is easier to use for transactions between countries than currencies in my country. I think sooner or later bitcoin will be increasingly popular and used by many people.

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August 13, 2018, 03:59:29 AM
 #311

I can say that bitcoin is currency because it can used in transactions. Not exactly currency but a digital currency, in some country they considered bitcoin as part of their currency because you can transact with others using bitcoin.

Lauff
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August 13, 2018, 05:36:49 AM
 #312

bitcoin becomes a currency if it already has the value used for buying and selling transactions and for now in the digital world, if bitcoin has no demand, of course this will turn bitcoin into no value and far from the currency
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September 26, 2018, 01:25:59 PM
 #313

Bitcoin has a cost, numerous individuals think about it and utilize it to make installments, so I trust that it very well may be known as a money. Be that as it may, because of the expansion in the expense of exchanges, it is more reasonable for the buy of costly things, for example, land and for making extensive exchanges. In this job, he outperforms any bank moves as far as speed and cost of cash exchange.
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October 10, 2018, 03:13:39 AM
 #314

That true to an extent but you have to realize that the value of a crypto currency doesn't necessarily just lie on its purchasing power. Because if it is true them Ethereum will reign supreme because we use it all the time but it is not. What i believe the value of crypto currency lies in is the price people are willing to buy it.

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October 16, 2018, 01:17:25 AM
 #315

I think bitcoin become a currency in sense of digital because it is being used for online transactions all though out the world.

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October 16, 2018, 01:23:50 AM
 #316

so far I've only seen a few crypto actually used for payments in online gambling. indeed functional enough to improve its function, but crypto is good to be used to buy legal goods.

Pattart
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October 16, 2018, 02:02:55 AM
 #317


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.
but in fact many people still have difficulty using bitcoin as payment? because of the limited number of merchants who accept bitcoin. but bitcoin is still valuable? the value of bitcoin is maintained? in my opinion the value of bitcoin is not determined by the function of the currency but from another thing also, bitcoin will become a currency if there is a seller who accept it...

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October 16, 2018, 03:21:13 AM
 #318

in my opinion it's quite complicated if bitcoin is used as a currency, because I need facilities and resources that support everything from infrastructure to users who fully understand how to trade using bitcoin, besides the government must also be able to provide clear and wise regulations so that all transactions can run smoothly without any party being harmed

MAJICOIN
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October 16, 2018, 03:55:14 AM
 #319

Just if we use crypto for a transaction so it is a currency that we can use as medium of exchange and now crypto is using instead of pay pal and many of the world big payments are possible now because of bitcoin and bitcoin is a currency we have used it for payments we have bought online stuff and many websites i have bought for others are through bitcoin So it is a currency.

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October 16, 2018, 05:20:38 AM
 #320

so far I've only seen a few crypto actually used for payments in online gambling. indeed functional enough to improve its function, but crypto is good to be used to buy legal goods.

Yes, but we can also use crypto for buying a product in the online store, and I think in the country which crypto is accepted, we can also buy something in real life. Maybe we need to wait until the government can approve the crypto to use as a currency, so we don't have to worry if we want to use to buy something. I hope that in the future, bitcoin and local fiat can walk together in the economy of each country so the crypto can be used in all country.

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