Bitcoin failed as a currency

[Trimegistus]

I think bitcoin remains as currency because bitcoin is used for online transactions and long-term investments and this is indeed successful, although bitcoin prices are unstable. But it is very far from happening, unless it can have stability and faster block confirmations then it can be a truly efficient tool as a regular currency for everyday usage.

How can it have stability without regulation?

And who is going to regulate it?

And will the community accept it?

Would you be comfortable knowing your currency's production is a Chinese monopoly?

Forget about it, BTC doesn't have what it takes to be a currency.

[Yeahnoh]

Okay I wouldn't say that it failed as a currency, because there are people who are actually utilising it as a currency, the only thing is that it is being utilised more as an investment, but as time goes in there will be just as many people and more using it as a currency

[siguria]

i don t think that bitcoin failed as a currency i think it is just becuase it doesn t have a fixed profit and by time mostofpeople will except bitcoin and start to invest on it since it has going to bring lots of profit to us and even though the ones that started even to hate it!

[kmlkkl]

Bitcoin is a technology piece. If we think about the constant improvement of technology, it can determine our point of view. There is not much interest yet but it will be the most advantageous money to use in internet environment in the future.

[duoleduo]

Bitcoin as the first cryptocurrency, it bears a lot of people's expectations, it was born as an ideal state of fair currency, precisely because it is getting closer and closer to this goal, people will be more and more see the value of Bitcoin in the future, so it will choose to invest in it. If Bitcoin fails, why do people choose to invest in it?

[shalaza]

You are absolutely right. People just buy and sell to make money whereas the main purpose is being defeated. Until people change their orientation about Bitcoin, nothing can be done about that. This may actually have negative effect on Bitcoin(that is if it is not having now). I hope this would change

[Way2Cool]

yeah, I agree with you!
Bitcoin is an investment and a instrument for exchange value over the internet...
But it's definitely not a currency, it's not stable! a currency must be stable! Bitcoin is not a store o value, also!!
but I'm ok with it, I like what Bitcoin is and what represent!

[hachimon]

Bitcoin was supposed to be used as a currency, not only a form of investment. However, it's been more successful as a form of investment, a "speculative asset".

Do you guys think that this can change in the long term ?

not in my opinion bitcoin does not fail as currency because even though bitcoin value is very fluctuate but bitcoin can be used to buy goods online. but indeed the purchase of goods with bitcoin can only be done in a country that receives bitcoin as a legal means of payment. as large bitcoin account users use bitcoin for investment tools. but this does not make bitcoin fail as currency.

[Jlv]

Let's see what happens in the future, there might be possibilities because for now it is already accepted as payment for transactions so more improvement might happens.

[veejay2716]

I think bitcoin should be backed up by gold to make it used as currency and so far I think it will not be allowed,  but for now it is used for investment and to have make an online transactions as payment.

[sugarfree1989]

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[basicbasiccha]

I believe it is for now though there are some transactions now that can be made using bitcoin but it is still limited that is why i cannot still consider bitcoin as currency.Commission is still high for little sums, but you'll have that in the bank too

[Zeronic]

Bitcoin was supposed to be used as a currency, not only a form of investment. However, it's been more successful as a form of investment, a "speculative asset".

Do you guys think that this can change in the long term ?

Bitcoin is not failed as a currency in my opinion. Bitcoin just overvalued because many peoples bought it and sold higher than they bought.
If this is keep repeating, no wonder that bitcoin price really high now. A good currency should not be too expensive.
But i think now peoples considered bitcoin as an asset more than currency because they can invest their money in bitcoin.

[semutracing]

One may find it difficult to adjust the currency that is volatile and many establishments are still hesitant to accept bitcoin as payment. Hopefully there will be changes in the next few months or even years. The value will be more stable unlike the last few years. And I believe for now even though there are some transactions now that can be done using bitcoin but still limited that's why I can not still consider bitcoin as currency

[Birin016]

I think in the future bitcoin is not only a profitable investment but as a currency or a simple payment option. I don't think bitcoin is a failed currency simply because of the lack of merchants that accept bitcoin.

[EddyCC]

I think it has not failed. It is just because every country has already their own currency. We need more time for everyone to accept it

[Vanderlio]

certainly not because of the bitcoin has value is high and strong and its not failed.

[vidivici]

Indeed, now a very visible that bitcoin is used for investment. It can not be denied if bitcoin is more visible as an investment asset than is seen as a means of payment. This is because bitcoins are limited due to state policies that prohibit bitcoin as a means of payment so bitcoin can not function as a means of payment maximally. Bitcoin only performs its function as a means of payment in a country that gives legal status to bitcoin. In a country still banning bitcoin, bitcoin is used secretly. So in my opinion, bitcoin has not been declared a failure as a means of payment when bitcoin is still used as a means of payment.

[Levin23]

I think not, because if it will be made in currency, bitcoin price is very expensive. besides the bitcoin price is also very volatile, the price is not stable and the price is determined from the amount of sale and purchase volume,

[maculeth]

of course, because bitcoin is digital and its value is also unstable. with its fluctuations, bitcoin is more worth mentioning as a digital investment asset.