Bitcoin failed as a currency

[Arne9131]

Bitcoin hasn't failed as a currency at all. Bitcoin is like cowrie shells, a community perceives value for bitcoin hence will always be used as a form of money. The size of the community is variable with the upper bound of the global population. Once the bitcoin receives mass acceptance, the price of bitcoin would gravitate to the cost of producing a bitcoin, having a lower volatility than today.

It depends on how you understand money, I have written an article outlining how money evolved historically and how cryptocurrencies can bring a drastic change in the money we use today, based on empirical arguments.

https://medium.com/@anvay.rane/are-we-about-to-redefine-money-again-4bed5344ebaa

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[skeletica]

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 ?

You are right, bitcoin has clearly failed to realize its ultimate vision to become the world's currency.
but now bitcoin has another bigger goal, that is, as a long-term investment tool.

[ciricoro]

In spite of the fact that bitcoin failed as a cash, it wound up effective as a speculation in any case. What's making it looks disappointment as cash is that different nations are not into crypto for a few reasons and that is extremely one of the difficulties that bitcoin should go through to make it filled its need, IMO.

[Jay51]

Bitcoins can be considered as a digital currency as well as investment asset. Bitcoins will be in the mainstream  of all financial markets within the next ten years time.

[Emmaallen87]

bitcoin is currently used as a currency but it is only used for online transactions. I think bitcoin in the near future is likely to become currency when all countries accept bitcoin as currency general.

[heroson]

Well, I wouldnot say that bitcoin failed as a currecy. Its still a currency, a digital currency. I know its virtual and we cannot use it like a dollar or euro but lots of other transactions can be carried out with the help of it. So i would better say its also a currency and not only investment

[barsharkol12]

in my opinion, bitcoin didn't failed as a currency. literally its a currency which widely use in internet for investment and other transactions is that just many people didnt know about btc and only few are knowledgeable about this crypto currency.

[Ziltoid]

I think nothing will change. But I don't see a problem. Let bitcoin remain digital gold, and for payments we have Ethereum. If you do not like Ethereum then EOS shows good transaction speed.

[Techno012]

Bitcoin can not be used as a currency on the grounds that many countries have not been able to obtain Bitcoin as a legitimate instrument of transactions. But in his own world, he became for us actually a currency.

[ivanjosh]

We can't say this thing right now because the future are still bright with bitcoin. Yeah, for now a lot of black propaganda just to ruins bitcoin reputation but I still believe in the future of this thing, bitcoin will become a major currency in the future. This is just the beginning.

Well, bitcoin didn’t failed as a currency,bitcoin need for support from the government, so if the other countries support the crypto currency if their might be a chance for other crypto grow especially bitcoin

[135cc]

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 ?

In my own opinion, bitcoin indeed is more popular as a medium for investment. But, it doesn't mean that it will loosing it role to be a currency at all. Maybe right now the trend is tend to make bitcoin more as a investment instrument than the currency, but in the future, maybe it can change, and the two role of bitcoin will be balance.

[Nurul_]

if I think bitcoin still has not failed to become a digital currency that can be accepted by all countries. if his name fails there is no single country that joins and receives bitcoin as a legitimate digital currency like paper currency .the proof is there are some countries that have joined and receive bitcoin as a valid digital currency

[nayan_suvo]

I think Bitcoin never failed as a currency. Now a days many country accept bitcoin for there currency. Only need to some other countries negotiations with bitcoin.  It sure that Bitcoin never failed as a currency.

[Romanlevi1980]

It is clear that bitcoin has already been used as a currency in crypto market.

[previously123]

I'm sure Bitcoin will never failed as a currency. In the future, It will develop more and more in order to achieve no.1 in the world

[Samuel188]

why did you think that bitcoin failed as a currency. I might be wrong but i still believe that bitcoin will become official currency one day

[Zelezinskyi]

To date it is too difficult for bitcoins to have a stable status, but in the future I believe that he will achieve great success and will bring a lot of money to people who have always believed in him

[anume123]

Bitcoin does not fail as a cryptocurrency because bitcoin price is still higher today it has the largest supply of all altcoin and tokens the biggest money is also being marketed around the world for bitcoin.

[riyarana1123]

In my opinion no because investors of BITCOIN use their coins in different ways it's actually depend on investor to investor that how they want to use their bitcoin.As the bitcoin is a digital currency and it is very easy to use for online transactions but,if a investor of the bitcoin wants to convert its bitcoin into fiat currency of his own nation it is also possible.Bitcoin is a currency who make their investors rich and now they are able to fulfill their dreams and not even can buy basis things but also buy luxury items.Moreover the basic function of any currency is that with the exchange of it people can purchase what they want and BITCOIN is easily use as a currency.

[Premooooo]

Bitcoin does not exist anymore because today the bitcoin price is high and the volume becomes bitcoin in markets because all investors continue to buy bitcoin because they expect that the price of bitcoin will rise from now on august.