Bitcoin failed as a currency

[LeetPoolsOP]

Many users just look for easy money and do not think about the far-reaching consequences of such events. But the technology of blocking has great potential. Smart contracts can be a new stage in the evolution of economic decentralization. Crypto-currencies can become a new form of money that does not know inflation, borders or any restrictions.

[Osayo]

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 ?

Most people have chosen Bitcoin to be an asset rather than just currency. That is why we have most of the challenges today. I don't see they notion changing.

[Sofiyah]

I think bitcoin doesn't fail, bitcoin only changes goals. which initially bitcoin must be used as a currency, bitcoin can be used as an investment tool. bitcoin doesn't fail, but it achieves more than its goal.

[Verde_Mantis]

We are still in the early phase of the bitcoin adoption, many people don't understand how it works so they don't use it. It's the same thing that happened with the online banking and with the credit cards, it just takes time.

[hacsoi2799]

right. Bitcoin is not a currency because every currency is accepted by the governments of the world but bitcoin is not.

[Sinancre]

I do not think that bitkoyn failed as a currency, it can not be used in any country. This is true on the basis of speculation. Bitkoyn is still young, ahead of him lies a bright future. For example, how does another online currency, such as eth, which is behind bitkoynom work.

[renhecy]

I'm not surprised to hear such bad news about btc. people are acting more skeptical as the rise does not come. I think that's a good thing. a chance to know where we made it wrong.

[avtonomro]

Well, it is missing the adoption, that's why. But it's better now than a few years ago.
A lot of website introduced BTC as a payment system, and this is one of the first steps of an adoption.
So just be patient and wait few years, crypto system will replace banks and other payment systems.

[holtzmann]

Why do you think that btc failed as a currency? I think that it’s too early to make such conclusions. And I agree with WiredContent55, cryptocurrency just facing some problems on the way of its developing.

[nangiarushali]

Along with many advantages Bitcoin has some disadvantages too. For example, the high transaction fees and slow transactions.These disadvantages are compelling people to use Bitcoin more as an investment than as a currency.

[ubeng07]

I think bitcoin doesn't fail, bitcoin only changes goals. which initially bitcoin must be used as a currency, bitcoin can be used as an investment tool. bitcoin doesn't fail, but it achieves more than its goal.

Exactly i dont see also how is it can be said that bitcoin had been failed on well there is no any evidence yet for this but i always believe for that bitcoin are always having some secret thing even we see that it was been failed as of now but there is some certain thing that happen sooner of bitcoin.

[Baimovic]

Well, it is missing the adoption, that's why. But it's better now than a few years ago.
A lot of website introduced BTC as a payment system, and this is one of the first steps of an adoption.
So just be patient and wait few years, crypto system will replace banks and other payment systems.

It took several decades to integrate it officially in public businesses recognized by the government.

For now, bitcoin is still worth trading as a commodity asset in many countries, we only need to wait for developed countries to dare to choose the crypto currency in their vital business, before that happens, it is impossible to predict in just 1-10 years.

[12tribes]

The idea of bitcoin is more than an investment or currency. It is a revolution that is set to completely tun around the definition of what a currency is and how we do business. The only thing that we need to o is to put some regulations against the work of scammers and fraudsters.

[coinnumber]

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 used for both investment and payment purpose though it mostly used for investment because thats were investors gain more profits. As for my opinion using bitcoin as fiat currency completely will affect its value, using it for investment will make it holders hold it for long, it high demands make the value of btc to be stable than any other cryptocurrency.

[Crafts12]

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 couldn't agree more. However I think bitcoin doesn't failed to meet its function, to be a digital currency, because although most of the people sees bitcoin more an asset, some of them still use it as a currency. We cannot change that fact. Honestly, if most people considered bitcoin as an asset, we can't change it either for a reason that it is what they are grew up to and maybe that was the function of bitcoin to them. We are all have different perspective in terms of the purpose of cryptocurrency.

[Dondisimo]

This is only at this stage of cryptocurrency development in the world. So far, people are taking it poorly as a currency, but it is happening, and every day more and more. So just have to wait.

[drukoz2]

Now bitcoin is really more active as an investment. But this is only because its price continues to rise and people see this as an excellent profit for themselves, so no one will spend bitcoin now. It is when the price is more or less stabilized, it will be implemented as a currency.

[KingBit.io]

Every asset is speculative.

[Delinquency]

It's so early to say that I think. Bitcoin got through similar situations before. When it dropped to 200 dollars from 1k most of people thought bitcoin is dead and sell everything they have. And we saw what happened 4 years later. I don't think bitcoin is failed yet, but we have to wait new rising wave.

[Tylev]

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 ?

A figure has been published that only 1.3 percent of the world population uses bitcoin as a means of payment. Of course, this is too little. However, the crypto currency is still very poorly embedded in our life, this process is still going on and will last for a long time, probably for decades. To use bitcoin as a means of payment, it is necessary that most states legalize it, this process will also take a long time. For him, you need to create an infrastructure so that bitcoin can be used directly as a means of payment, it is also a long process.
As for the primary use of bitcoin as a means of storing the value, unfortunately, I do not see the possibility of a change for the better, and this is very bad for both bitcoin and the entire crypto currency in general.