Bitcoin failed as a currency

[KonstantinosM]

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 completely disagree with the premise. I have used and keep using bitcoin to buy things. Yes, it's not ready for adoption at scale, but like every other technology it needs time to incubate.



For the second question. Yes, I think things can change in the long term. Bitcoin could be replaced by a fairer crypto, although life is never fair, and one could argue that the way bitcoin was distributed, is as fair as it can get (as people back then didn't know the potential value) and future projects will have people waiting to try and jump in (thus the first ones being even richer than in the case of good old bitcoin).

Bitcoin could be replaced. But I don't think it will be. And I'd like to re-iterate that it works perfectly well as a currency. I don't see how paying a 0.15 cent fee for a transaction is more than trivial.

[crypto-futures]

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's still early days.

Yes, initially we have seen incredible success in BTC investment (and catastrophic failure for some), but the road to mass adoption is a long one and I think we are heading in the right direction for sure.

[microwave]

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 will operated almost 10 years and their service is very much rested, why we are suddenly predict that bitcoin was failed their task, you know this is part of the volatile movement we don't panic about this soon there is big changes of price I'm sure we just wait guys we don't dis courage count a little few moths when you wake up in the morning then you tsek the status it has a big changes of price I'm sure.

[DrGuns4Hands]

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 was used by people as a means of ease in earning income and for better used - the technological innovation that might change the whole world. Thus, the challenge is much bigger than the present. The past defines the future and the great challenge lies on the future. Bitcoin is the technology that do not possess the tangibility and every investors - made investment because they can see it, they can make through it. The point of bitcoin is its decentralization and intangibilty and the trust of people in it as an investment. If in the future, this thought would be its weakness then it would turn out to be unsuccessful and in would greatly create negative situation not on the market of bitcoin but by the bitcoin and crypto itself...

[BigBos]

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's still early days.

Yes, initially we have seen incredible success in BTC investment (and catastrophic failure for some), but the road to mass adoption is a long one and I think we are heading in the right direction for sure.

cannot be said to fail, because bitcoin is still used as a transaction tool on the internet. but, at present, the most potential performance of bitcoin is to become an investment tool, and it makes better profits compared to making it a transaction tool

[Pan Troglodytes]

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.

No, I don't think that volatility is a stopper here. I think that the transaction fee is a real stopper and developers' attention should definitely go into enhancing the blockchain throuput.

[Sofia234Edwards]

Interestingly, Bitcoin can only be converted into currency. In the future, no one is sure Bitcoin is a currency. But now it's still cryptocurrency.

[borovikovtopmen]

Bitcoin is more like a digital asset than a subject of calculation ! But it is convenient to use it as transactions between countries.

[BIOX]

I think that it is not true. BTC is gaining power and popularity so I think that its time will come soon. It's still long way to worldwide approval but I hope that BTC will be a global currency.

[xiahui135]

I think that it is not true. BTC is gaining power and popularity so I think that its time will come soon. It's still long way to worldwide approval but I hope that BTC will be a global currency.

it will be a currency, but an investment.
Bitcoin is an asset, not money. 1M block size just limit onchain transactions and bitcoin can not bear more usage.

[caeles]

I think no, bitcoin was now also used as a form of payment. Many countries adapted to the concepts of cryptocurrency already and I've seen stores which accept btc as a form of payment.

[QuppyTeam]

I would not say that it has failed, however, now it seems to be at the declining stage and this drives negative thoughts and opinions about this currency. It’s one of the top currencies in the market nowadays

[romka140393]

bitcoin has everything ahead

[crypto-futures]

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's still early days.

Yes, initially we have seen incredible success in BTC investment (and catastrophic failure for some), but the road to mass adoption is a long one and I think we are heading in the right direction for sure.

cannot be said to fail, because bitcoin is still used as a transaction tool on the internet. but, at present, the most potential performance of bitcoin is to become an investment tool, and it makes better profits compared to making it a transaction tool

I agree. When I said fail I was referring to individual investment failures, as can happen with any investment

[Ipal]

Bitcoin as a currency has not failed, bitcoin needs time to become a currency because the fluctuating market situation makes it unstable, this factor makes bitcoin an investment, because everyone wants to be a billionaire, they compete to invest in bitcoin.

[Palo05]

Bitcoin didnt fail as a currency. Due to the price of the bitcoin and how big your profit when you invest . So usually they prefer more on investing.

[KorakPawon]

bitcoin can only be used as an asset or as a land for investment so far and so far has run smoothly.
many say that bitcoin will become a currency, but if we think all countries already have their own currencies and so far the country's currencies in all regions are safe and accepted by the people.
then my opinion is that bitcoin must be a currency that's a difficult thing but if changing the point of view of bitcoin as an asset or investment into a payment instrument it might happen, because there are countries that already use bitcoin as payment.

[btcformula]

I think the long-term nature of bitcoin is still a kind of asset to invest. To become a currency is another type of electronic currency with faster and cheaper deals

[Yadamosan]

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 no because for now bitcoin is usable for online transaction but maybe in the future when bitcoin price is stable but for now it is somehow impossible to be happened; maybe in the future when the other country use as a currency because for now they have own currency and but for now there is no chance that bitcoin to be a currency but maybe in the future; because for now the future of the bitcoin is to bright;
Bitcoin is decentralized and we couldn't just credit it to China or other countries as their currency.

[Sir Legend]

To become international currencies, it certainly takes a very long process and time, as we know that the main problem at the moment is the number of countries that are banned from bitcoin that hinders the development of bitcoin to become currencies.