Bitcoin failed as a currency

[SMD.Shuvo]

Yes it is true that Bitcoin fails as a coin. But Bitcoin is a digital coin. I think Bitcoin will be recognized as a currency in some or no day.

[sagatel]

I think it doesn't matter if bitcoin is a currency or not. For me the main thing is that thanks to bitcoin I can make a profit from investments.

[Chacha1000]

Bitcoin is not even a currency per say,bitcoin is a digital currency . I dont for once believe that bitcoin is a failure at all,the problem here is that people over rated bitcoin price so much

[Ghondronk]

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 ?

About 10 years ago, have you ever thought that there will be something called cryptocurrencies in which the people will invest heavily like they do at the moment? I guess the answer is "No". That is the unpredictable behavior of this industry and you can expect the unexpected in almost all the time. There is a higher probability that the cryptocurrencies to grow further and sometimes those may displace the fiat currencies from their current positions in the longer run.

[racatbtc]

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 ?

About 10 years ago, have you ever thought that there will be something called cryptocurrencies in which the people will invest heavily like they do at the moment? I guess the answer is "No". That is the unpredictable behavior of this industry and you can expect the unexpected in almost all the time. There is a higher probability that the cryptocurrencies to grow further and sometimes those may displace the fiat currencies from their current positions in the longer run.

Totally agree !

[catur123]

I do not think that bitcoin is a failed currency because I believe long-term bitcoin will be a very lucrative investment ground for world investors. so I'm still sure bitcoin will be bright in the future.

[junglist.massive]

Bitcoin can be a currency but just as a digital currency that has not been accepted by some countries and only can do transactions with some companies that have accepted bitcoin for payment.
You can make bitcoin as your "asset" because it frees us all to use it as anything and there is no rule that forbids it to be "asset" or investment. But now many have accepted bitcoin as payment services and goods.

[Kayla]

Maybe. Most people think bitcoin is used as an investment, they think bitcoin is used as a means to gain profit only. Not many people use bitcoin as a means of transaction or payment. In addition, only a few countries can serve payments using bitcoins. If all or most countries agree and facilitate bitcoin as a means of transaction or exact payment, then bitcoin can be used as currency.

[mr.bean865]

Bitcoin disappoint many of its users as many believed in bitcoin adn invested some or all of their credit ut right after 2018 starts, bitcoin gave loss after loss and like my case I have lost 70% of my investment and I have nothing now in my hands.

[atorle]

Bitcoin failing as a currency is not really as a result of some intrinsic faults in bitcoin in itself but rather as a result of its level of use.We will move past that some day

[lillyann]

I think no because bitcoin is used for online transaction and the price of bitcoin is not stable, but if bitcoin become stable maybe it might be possible that bitcoin will become currency, but for now, there's no chance that bitcoin will be used as currency.

The other reason every country have their own currency so where do you think the country of bitcoin?

Bitcoin is decentralized and we couldn't just credit it to China or other countries as their currency.

until the BTC is legalized, it will not be stable. Just like you wrote another case, it's sick fees for transact. Especially in the ETH system.

[btcdarkfanboi]

Yeah most people use it as investment but some use it for online shops so it really didn't fail cause it's not yet really a currency tbh

[EVIAJOHNPAUL]

I think some people having a work then bitcoin is not focus to their mine because the currency of bitcoin will decrease in market.

[yulionoo]

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 think it will take a long time if bitcoin will become like a currency in general. and maybe all that could happen. indeed for now most people just make an investment. but I think if they want to use to transact every day. may affect the increasing value of bitcoin in the market. I'm sure for the long term bitcoin can be like a currency. if the holders want to change their way of thinking to always use their bitcoin to transact every day. and if more and more people are interested in bitcoin.

[Ivan - WorkChain.io]

There are definitely other decentralized(not necessary crypto currencies) currencies that will take  place of current currencies in next months/years.
I think that bitcoin was pushed into store of value which is not bad at all - digital gold.

[btcCoincart]

Long term I still want to see bitcoin reaches $20K again, and then to $40K. But now, it has to pass the resistance at $10K first! 

[Luana Trade]

yes to many possibles of using the bitcoin advise in trip type in the tourism with the conversion but practice only need to be accepted in world scale imagine a person in Japan needing money and you here wanting to help with certainty to transfer bitcoin would be but fast and convenient only be used in this way because it is an alternative to use

[SakinaPrincess]

Long term I still want to see bitcoin reaches $20K again, and then to $40K. But now, it has to pass the resistance at $10K first! 

Everybody is waiting for it lol. 

[bigblackdeck45]

Your statement makes a lot of sense, yes bitcoin was made to be a currency not something we invest in but I think there are still a lot of people using bitcoin as a currency. For example, I use bitcoin to buy stuffs and services online. I am still using bitcoin as a currency and not just investing on it. So bitcoin failing as a currency is a bold statement.

[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 ?

About 10 years ago, have you ever thought that there will be something called cryptocurrencies in which the people will invest heavily like they do at the moment? I guess the answer is "No". That is the unpredictable behavior of this industry and you can expect the unexpected in almost all the time. There is a higher probability that the cryptocurrencies to grow further and sometimes those may displace the fiat currencies from their current positions in the longer run.

I don't think that crypto currencies will displace or replace paper money in the future and this is insanely impossible to happen in reality. Why? Here I will tell some of the reasons why these virtual currencies won't replace fiat.

Money is important to every one of us and almost every people in the entire world needs money for survival. If all the currencies that we use are digital do you think that poor people will be able to use it? And if you think that crypto currencies will replace fiat in the future what will happen to those unfortunate people that have no access to the internet and doesn't have the ability to buy their own laptops or smartphones because this stuffs are the basic things that you'll need to use crypto currencies.

Crypto currencies are part of our evolving world and to be honest I really believe that these innovations will soon be massively adopted worldwide and majority of the countries will use this as an alternative to paper money but not replacing fiat.