Bitcoin failed as a currency

[DisWhale]

Bitcoin has not failed as a currency but rather there has been a shift of interest from using Bitcoin as a payment method to investment because users or holders enjoy good profits for holding Bitcoin for a long term. However, Bitcoin is used to pay for goods and services in some shops.

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[Thecryptocurrency09]

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 do not think bitcoin failed as its construction or worth. It is doing its job well. In the long run, I have not seen any discrepancies to its function, therefore it simply provide service very well. And as soon as it will keep its lead as a currency pn track, therefore, it will be as great as it could be in the next years.

[Blackwhite69]

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 do not think bitcoin failed as its construction or worth. It is doing its job well. In the long run, I have not seen any discrepancies to its function, therefore it simply provide service very well. And as soon as it will keep its lead as a currency pn track, therefore, it will be as great as it could be in the next years.

If there is no change for Bitcoin and Bitcoin users to fail in becoming a virtual currency, why do everyone still survive? everyone is still hoping a lot with Bitcoin.

[MMA]

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 do not think bitcoin failed as its construction or worth. It is doing its job well. In the long run, I have not seen any discrepancies to its function, therefore it simply provide service very well. And as soon as it will keep its lead as a currency pn track, therefore, it will be as great as it could be in the next years.

If there is no change for Bitcoin and Bitcoin users to fail in becoming a virtual currency, why do everyone still survive? everyone is still hoping a lot with Bitcoin.

It is very early to say anything about it. Actually bitcoin is very new and it will take a lot of time when it will fully implemented throughout the world, and when all the people of the world will start using bitcoin as currency, although in current time people have the facility to use bitcoin as currency but very rare, in most of the places still shopkeepers are not accepting bitcoin for shopping in their shops because of lack of information about bitcoin, when bitcoin will become too much popular then people will start thinking about using bitcoin as currency.

[nikki4]

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 do not think bitcoin failed as its construction or worth. It is doing its job well. In the long run, I have not seen any discrepancies to its function, therefore it simply provide service very well. And as soon as it will keep its lead as a currency pn track, therefore, it will be as great as it could be in the next years.

Me too, the Bitcoin for me doesn't failed to be as a currency. Impact, the Bitcoin plays a very great role to be a digital currency. It greatly help me in so many of my financial transaction. And not only that, the country where I belong, the Bitcoin is legal and the government of us is not against to crypto currencies. Bitcoin is a great currency and people should notice its potential and capabilities.

[Btcepoy11]

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 do not think bitcoin failed as its construction or worth. It is doing its job well. In the long run, I have not seen any discrepancies to its function, therefore it simply provide service very well. And as soon as it will keep its lead as a currency pn track, therefore, it will be as great as it could be in the next years.

Me too, the Bitcoin for me doesn't failed to be as a currency. Impact, the Bitcoin plays a very great role to be a digital currency. It greatly help me in so many of my financial transaction. And not only that, the country where I belong, the Bitcoin is legal and the government of us is not against to crypto currencies. Bitcoin is a great currency and people should notice its potential and capabilities.

Bitcoin never failed, in terms of investment it is normal when price going down and going high. Compared the value of bitcoin from last year 2009 until now, it is so different. Bitcoin is successful cryptocurrecy and no doubt about it.

[Osarman]

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 ?

As far as I see bitcoin can never replace the cash currency as because it can be mined by really anyone and hence the economic stability can deteriorate by it , also bitcoin having such a volatile rate can never be accepted in the current situations , having it achieve a stable rate it can be used in day to day transactions to some extents , but personally speaking I don’t see any hopes of it being a currency in near future.

[KiloWatts]

Bitcoin is more profitable to be used as an long-term investment asset than used as a currency.

[Alkhalifi69]

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 ?

for now I think bitcoin will not be a state currency, because bitcoin itself has fluctuation properties, ie prices are always changing very fast and in my opinion even bitcoin will not be a country currency.bitcoin will forever remain as currency digital.

[Pan Troglodytes]

It did not failed, we cannot say so, but in the end of the 2017 the prices of cryptos hit their highest level, and now they are normalized and we think that they are failed, but no I think that the situation in December was abnormality itself.

The problem is not in the price itself, but in the transaction fee. Fees were very high in the end of 2017 making it impossible to use bitcoin as a payment (impractical at best, but I would tend to say impossible - does waiting weeks for a single confirmation on any transaction unless you pay 100$ fee sound like a possible way to go?).

And while now we have a better time regarding the fees, I expect that as soon as more people start to transact bitcoin again, the fees will skyrocket again too.

[Snakerist]

It could be changed only if Bitcoin evolved significantly in tech and became much faster and cheaper for bigger amount of people.

[etsonarrantes]

It won't fail i don't agree with you. Bitcoin is the first word told in cryptocurrency bussiness. ETH has it's big platform right now but BTC i something unique and you can't race with it. I think it will start to grow more soon and will take place the paper money. Believe me BTC would never fall.

[Kittygalore]

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 ?

This will definitely change in the long run, that is if it survives the ever-changing tides of the market it was currently in. In this case, it would be able to serve it's primary purpose later on its journey. Bitcoin developers are doing the best they can to make bitcoin as stable as possible. A flaw that made it completely unable to serve the purpose of being a digital currency.

[blckhawk]

Bitcoin failed as a currency simply because it is volatile. Its value varies from time to time, sometimes it rises, sometimes it goes down. You cannot use bitcoin as currency online because it has no definite value. Otherwise, others handles bitcoin as their asset that means it holds value and it can be use to buy something just like a real money can do. It can be a currency but you must deal privately.

[Mat_Myers9844]

No, you are wrong

[sublime5447]

No, bitcoin is already used as an online transaction and there are already several companies that accept payments via bitcoin. But for now bitcoin can’t be a currency because the price is not stable and many people use it for an investment because of the unstable price.
Bitcoin is not yet accepted by most countries because bitcoin is a decentralized currency, and every country will find it difficult to accept bitcoin as a currency because every country has its own currency.

[jzale]

I think Bitcoin is much of an asset rather than being a currency. Yes it is utilized as a mode of transaction but more are grabbing it for investment purposes. The price is very volatile compared to real currency that we have. It didn't failed to be a currency since there are lots of adoptations now in the industry. You can avail food, things, services and even property with Bitcoin that's how it's fulfilling it's purpose.

[naveenchandradasa]

Hey, I don't think Bitcoin should be a standard currency. Because the first reason is, Bitcoin hasn't a stable price. Because it can be changed at any time. Sometimes getting higher and sometimes getting lower. That's the first reason. As well as one Bitcoin (1BTC) has a big value, like 6685 (at that moment). It is a huge value. We cant buy some little thing with Bitcoins. And also, Each and every country has a standard local currency. So why they need another currency for trades. According to this reasons, I don't think Bitcoin will become a standard currency in the world. Thanks.

[rudox]

Bitcoin is still being used as a virtual currency and has been fulfilling it purpose as a medium for exchange both for payment and services. It has not yet been found wanting in these area. It is also used as store of value which can also be inform of investment. Bitcoin is doing well.

[florapez777]

As long as it's possible to make money out of it, it will always remain some kind of investment. While still some people do use it as currency, especially darknet guys, there always be people taking advantage of it's ups and downs.