Bitcoin failed as a currency

[Spontebob]

There are people using Bitcoin as currency, so it didn't fail. But it's not a rule and each person can use Bitcoin as it better fits their needs. Maybe it looks strange that people use a currency as investment option because we see our traditional currencies losing price each new day, being unprofitable to hold, otherwise we would have fiat as a glimpsed investment too and not only to pay for our needs.

More people will start using BTC as currency if it's interesting for them. It can be achieved when more stores from different sectors start accepting BTC as payment and consequently when the demand for the digital currency increases.

I don't think it failed as a currency. Bitcoin is just getting started. It is still used as a digital currency and there is still room for improvement.

[czhen]

I think if Bitcoin becomes a global payment tool in the world it's possible that Bitcoin will function as a currency.
but at this time Bitcoin I analogy as gold and not currency

[shata]

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.

Yes sir. Because accordingly to what is in the whitepaper of Bitcoin, to what Satoshi Nakamoto used to write, its purpose is to become a medium of remittance or transfer of funds, money to your friends or loveones without any third party involvement. Thus making bitcoin as a way of making lives of table without any going to a bank or remittance center.
I also agree to you that we must also consider the existence of bitcoin. It is decentralized and the fact that no one controls it, thus making it impossible to become a national currency of a country.

[Yman73]

Yes the bitcoin failed as a currency in the present time due to many factors but i suppose it is going to change in the future there will be a time when it will be used as a currency and i think this change will take place in 5 to 10 years 

[ajoygb]

Bitcoin is doing good in the market and they are using progressively in the online transactions,  and now it used as currency in different countries.

[kencot]

That's right I agree with what you think. It seems true that bitcoin works better as a speculative asset and commodity. But bitcoin does not fail as currency. Bitcoin is just not perfect for that. In the long term and along with the progress may be bitcoin can be refined as currency. If that happens then the revolution is happening.

[ericmalik]

i think people use bitcoin for increase the invest as a digital currency but until governments does not support.we can not be said that bitcoin is accepted by everyone.

[Wahyud11]

Bank of England central bank governor Mark Carney said the virtual currency such as bitcoin and others failed to be categorized as a form of currency.

Carney also revealed, the development of virtual currency has clearly showed the existence of a financial bubble.

The bubble condition is when the price of an asset, including the virtual currency, jumps so high and then plummets and causes instability in the financial sector.

However, Carney says virtual currency technology can improve the financial system in the future.

[CrystalPham]

A potential solution to Bitcoin price fluctuation is to connect Bitcoin prices to gold at a fixed rate. This requires a consensus within the Bitcoin community, as well as the need for a donor willing to create a physical gold market according to the agreed value in Bitcoin. The bitcoin becomes official currency.

[meowskie]

For me its a no, because bitcoin has no permanent value. In the future we don't know if it have a high value or maybe it become worthless. Bitcoin don't have fix value.

[vendy86]

I also think bitcoin more like investment than currency.
Every country already have their own currency and we cant change it just like that.but if we take bitcoin as invesment,even it was high risk invesment type, I think government will consider it.
Bitcoin need fiat to make it valuable.just like gold.bitcoin without fiat it just a data at internet.

[Roni116]

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 does not fail as a currency, many companies use bitcoin as a payment system because of its decentralized nature. And I think it's too early to say bitcoin fails as currency.

[vionas]

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 can not be said to fail as currency because it is still used, bitcoin does have the other side of bitcoin is more used as an investment because of increased value of bitcoin that can provide benefits.

[renggileh]

Bitcoin is new form of payment. We are using traditional way of payment. When card payment launched by banks then it took a long period for regulate in market. So assume result for Bitcoin taking as currency is in hurry now. We should give more time to Bitcoin to proof it's success. I think it can good option for online international transaction.

[jemerson1420]

nio if failed bitcoin not use token.

[harnorno2]

Yes, Bitcoin was originally envisioned by Satoshi as a peer to peer currency. Due to its recent scaling problems (block size, confirmation time), Bitcoin today, I would say its treated as a store to value as opposed to a currency. Currency or not, I guess time will truly tell the potential of Bitcoin. I am eagerly waiting for the lightning network to be implemented, which would resolve most of the scaling issues. Let's see where this would take us!

[Ar Rahman]

bitcoin should be used as a currency, not just for investment alone, but bitcoin is more successful in the investment field, if it fails to say in my opinion yet, because in some countries bitcoin also been widely used as a means of payment or transaction, online or supermarket that has received payment using bitcoin.

[crisanto01]

bitcoin should be used as a currency, not just for investment alone, but bitcoin is more successful in the investment field, if it fails to say in my opinion yet, because in some countries bitcoin also been widely used as a means of payment or transaction, online or supermarket that has received payment using bitcoin.

I don't think that it is a good idea, I think that bitcoin should be treated as an investment and not as a currency since it is more profitable if we will just invest in bitcoin and sell it at high price rather than treating it as a currency wherein it will just give us a fair price.

[bananaunana]

Bitcoin isn't failed, it's still in development.

[sieemma]

Bitcoin isn't an inch of a failure as a currency. How are those fiat currencies successful and if so compare their growth with that of bitcoin. You will realize that bitcoin has become very successful in terms of adoption. The only currency that can boast of it's widely use case is bitcoin.