Bitcoin failed as a currency

[tuananh9858]

ok i think you were right thinking. it will be in currency. But it will become a special kind of commodity. And people use them as a commodity exchange.

[boltz]

Maybe or maybe not. I think you are just upset because of the current price of bitcoin and it's understanable because I have been in your situation but let me remind you that bitcoin is not only about price and value and blockchain is more important than bitcoin right now. In my point of view, bitcoin will become a global currency no matter what but until then it will have to pass a lot of hard choices and obstacles as some countries are against bitcoin but this will change at the next bull run wich is not this year for sure.

[denzkilim]

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 ?

I don't think so, but who knows anything can happen in the future.

I think for now bitcoin cant be currency because fluctuations making it hard to do trade and transaction maybe if bitcoin become stable or more stable bitcoin can completely become currency. For now i just using bitcoin for investing

Yeah Bitcoin is more than an asset rather than a currency but anyone of this are still good as long that they have value. You're correct, Fluctuation and volatility are the main reasons why Bitcoin cannot be a currency and widely accepted. But even Bitcoin has this kinds of down sides in its nature it is still one of the best innovations that happened in our monetary and payment systems. I hope that crypto currencies will be widely used and legalized in majority of the countries world wide.

[knggtrrz]

Bitcoin is not a failed cryptocurrency many people are already gain profit in bitcoin may be for now bitcoin is tottaly down in the market right now but its not mean that bitcoin is a failed currency we can say that when bitcoin will recover and rise again

Yes, bitcoin is a digital currency now, maybe the OP are saying bitcoin failed to accept as legal currency by many countries now. Anyway, I think this will not affect the bitcoin as it is becoming more popular and huge people are supporting it already.

[Crypto24hrs]

By a simple definition currency is anything that is generally accepted as a means of exchange, now the big question does bitcoin pass the definition test of a currency? to me yes is the answer even though there are pocket of countries where it is not been accepted for selfish reasons and it will not be long they will reverse their decision.

[cryptoguy1234]

The instability in Bitcoin is somewhat worried for something expected to be a store of significant worth. In any case, the basic truth is that it is being obtained for hypothesis, and not as a store of significant worth or methods for trade. The quantity of examiners overshadows the quantity of individuals who buy Bitcoin for some handy utilize. Hypothesis fits brisk purchasing and offering moves, while individuals who really utilize a cash hold tight to it. I trust that when Bitcoin use as a useful money surpasses that of theorists, the unpredictability will diminish.

[genuin]

you value bitcoin as an investment because of its fluctuating movement,
I suggest that you see and hear the opinions of people using bitcoin as a means of payment so you can understand the usefulness of several factors

[K.Tumpa]

Bitcoin is best currency I think so.This used most people because this is world wide big business or currency. This earning my asset.Day by it's price up & down. Some people bitcoin earning not rule maintain then they failed a currency. So I there for it's very difficult currency.

[Cagus]

"Bitcoin is unsuitable as a currency, because people are far more likely to hold it in anticipation of it appreciating in price."
I believes that bitcoin is an asset rather than a currency. Earlier last year, that its volatility strips bitcoin of the characteristics needed "of a plausible substitute currency," making it instead a "speculative asset, a get-rich quick scheme."
 Also that stable values are required to encourage both commerce and investment, since people need to understand the value of what they're buying, and buying into.

[ASHANABEY]

Yes I really think this will change in the near future because one of the main reason that we don's see Bitcoin as a widely used currency in the world due to government rules, regulations and restrictions against bitcoin but we can see the situation is changing in many countries such as Switzerland legalizing bitcoin as a foreign payment method and some like Cyprus has given a neutral stance when considering bitcoin as a payment currency so considering such facts we can still hope the situation will change immensely in the near future for the betterment of cryptocurrency world         

[Coinsher]

We cannot predict the future of a thing especially for cryptocurrency like bitcoins. And as of now, I don't think it will be failed in the future because bitcoins and even altcoins are used and acknowledge by some countries as payments in transctions online. It will be a good kind of business and possibly will last long.

[vnnbot]

It is unlikely that bitcoin will collapse in the foreseeable future. its fall, for example, to less than a thousand dollars - a controversial phenomenon, it would be a very important psychological level for the crypto currency. analysts say a possible rollback bitcoin as a negative development, but this fact does not prevent the bitcoin align the course and storm new heights.

[Igromania]

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 ?

Yes, but it will definitely not be soon, maybe in 3-4 years. The market is new and because of this bitcoin is seen as a speculative asset

[tambok]

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 ?

Yes, but it will definitely not be soon, maybe in 3-4 years. The market is new and because of this bitcoin is seen as a speculative asset

Even if it will fail as a currency it will be just fine with me as it will really bring a big impact in the economy, for  me it is better this way that bitcoin will use as an investment and just an alternative way of money that can be use anywhere.

[LigwagGanern]

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 ?

We cannot say that the future of cypto currency because we all know that the value of them is temporary, anytime it may change. I know that, we are hoping someday that future will become legalized in the world and many people will understand what is the essence of crypto in our world.

[lamtruong123434574218@gma]

Bitcoins are often used as an investment vehicle or as an intermediary for trading other Altcoin. Bitcoin has not become a currency as it is unstable in its price difference too much

[i_iz_vins]

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 ?

We cannot easily conclude from what we are just seeing right now. There are many things that may happen and may somehow change your point of view. Bitcoin is not just used as a currency, as we all know ,bitcoin is a digital cryptocurrency which only exist in the digital world. Since it is a product of technology, change is inevitable and bitcoin is not exempted from that. Before it was just used a currency, well now it can also be used in earning which is not a bad thing.

[Jay51]

I think bitcoin is not failed as a currency because it reached its highest value as a currency I think bitcoin is a digital currency but here is more likely in investing because bitcoin is so unstable or fluctuating that so many people use it to invest instead of being used in real terms because bitcoin is not a standard value

[m.mendoza]

There are people using Bitcoin as currency, so it didn't fail. But it's not a rule and each person can use Bitcoin as it better fits their needs. Maybe it looks strange that people use a currency as investment option because we see our traditional currencies losing price each new day, being unprofitable to hold, otherwise we would have fiat as a glimpsed investment too and not only to pay for our needs.

More people will start using BTC as currency if it's interesting for them. It can be achieved when more stores from different sectors start accepting BTC as payment and consequently when the demand for the digital currency increases.

 for me it is better this way that bitcoin will use as an investment and just an alternative way of money that can be use anywhere.
there is no possibility that bitcoin will be used as currency. But that is not a rule and everyone can use Bitcoin because it is better suited to their needs.

[KimmyF]

Why do people said that Bitcoin failed to be a currency? Well for me, that is not really true. The Bitcoin hss a really great role as a crypto currency. Because Bitcoin stands as the King of all the crypto currencies here in the crypto currency community. That only happens that people think Bitcoin failed bacause, users and investors greatly even preferred Bitcoin to use as an investment rather than as a currency.