Bitcoin failed as a currency

[Vertex_ICO]

I believe that in the future if the Bitcoin price becomes more stable, that it could potentially be used as a currency. For right now though it still remains too volatile.

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[Stargazer]

This only happens because most newbies and teenagers thinks that they will be millionaires just by investing $100 on bitcoins.

This was not supposed to happen, but this is because of the mainstream media.

[7Dyoknga5]

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 ?

If in the future a lot of stores/businsses would accept bitcoin as a mode of payment it could.

Some wallet apps offers payment for government and basic bills but you still have to convert btc to national currency before you can transact.  

[Traderbtcc]

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're getting it all wrong. Bitcoin wasn't just created to be a stable coin. Agreed, The original purpose was to facilitate peer to peer exchange of values but being a store of value was also one of the purposes why it was created and like other assets, It is subject to market conditions which impacts the price from time to time. So bitcoin hasn't failed yet except you're talking about the current developments, slow txs and fees.

[oni4an]

Technology is the most valuable thing that may be in our world. Who owns technology owns the world. Perhaps eventually has to own part of the world)

[terbetet]

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 ?

We can never say exactly what Bitcoin can be because usage depend upon the type of person or group of people who certainly use Bitcoin into different type or purpose in which they perceive it to be more useful if they will going to use it as an asset for investment or a currency which they can freely use on daily life basis. But still, change is inevitable so maybe, we can still do some changes on how people perceive Bitcoin but that was not literally effective because Bitcoin has its own purpose that was not that exactly constant for a single use that makes it flexible that is why people do use it intentionally into a purpose which they think that it can work as a useful thing that can either be a currency type or an asset for investment purposes.

[marites]

As of now and to the status of bitcoin still blurry to happen when we talk to become a currency because they use it as an investment or gaining extra income .
As long as they are not introducing bitcoin as a currency nor they not legalizing it. It will never becoming a new currency.

[JimmieA]

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 ?

btc is a currency .. that's right, but is the digital currency. And I think in the future too. As a speculative asset, btc has been as if and in the future will still be like that. Governments have their own arguments not to make btc a currency in the economy, because they need to change a lot to be able to do so.

[kenjionline]

So that bitcoin became a currency. All countries should accept it as a monetary instrument. Therefore, many invest in it, because if this happens, bitcoin will go to the moon.

[Nakedbitcoin]

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 ?

At first it's hard to adopt bitcoin as a new currency.  Because bitcoin is differrent from physical money that easy to hold. Unliked bitcoin that need to use internet so that people can transact their money. But maybe someday all people will learned how to use bitcoin because our time has improve also from old generation to new generation which is high technology. That's why my insight future of bitcoin will replace fiat money as a new currency.

[Corsicoin]

Bitcoin will fail as a currency as long as it's volatile.
Once it's stable it can be a currency.
Let's wait a century 

[gilangIDR]

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 ?

Until now, the majority of bitcoin users use bitcoin as an investment. Maybe if compared then the percentage of users who use bitcoin as an investment can reach 80%. This is beyond expectations because the existing system should mention that bitcoin is the digital currency. But with the passage of time then I am quite optimistic that someday bitcon can be utilized with the best possible, especially as a financial transaction media that is safe, fast and legal.

[bering]

high of volatility and maybe not transparent this is makes people or countries does not too dare to makes bitcoin as the currency especially the last thing i was mentioned is very crucial that the currency with high of volatility does not suitable as the currency but bitcoin still can use as transactions tools and plenty of advantages if we use bitcoin as transactions instead of fiat

[CaptainKid]

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 agree that bitcoin is more used as a method of investment, but it is only beginning and some countries recognize it as a means of payment, and the number of shops in which it is possible to pay with the help of crypto-currency is growing.

[pharaon]

Bitcoin is still being used as currency because you can pay in millions of merchants with bitcoin and its still dominant whole cryptocurrency space.

Therefore bitcoin is both investment and currency, in next few years we will have lightening network which will make bitcoin ultimate payment gateway.

Bitcoin might keep on holding speculative value in future too but volatility might get lower down with increasing marketcap.

Yes! Once the market gets larger (much larger) volatility should decrease significantly. The plus the lightning network will set Bitcoin up for use as a currency. Currently right now with its volatility, people view it as a speculative investment. I do think Max Keiser is correct in stating the price will stabilize at around $100,000 USD.

It's interesting to know why the volatility of the crypto currency will decrease if capitalization and the market increase significantly
I believe that, despite the unstable price of crypto currency, we will still use crypto-currencies more often, as a means of payment.

[BagzMM]

Bitcoin lost its feature as a currency because of its high volatility and the possibilities of making profit. Maybe it will be more used as currency if the price is (somehow) more stable and more stores accepts Bitcoin in the future.

Yeah that's true it's difficult for bitcoin to go mainstream as the price can change from to time. To add the confirmation and transaction fee are also a problem that need to address by the developer itself. Maybe this will only serve as a digital asset rather than a currency.

[rony01941]

Bitcoin is an online virtual currency. It has no real existence. Bitcoin's price is always variable. If Bitcoin's price was at a fixed price, it could have become a real currency. Bitcoin we can trade online.

[onrise]

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 agree that bitcoin is more used as a method of investment, but it is only beginning and some countries recognize it as a means of payment, and the number of shops in which it is possible to pay with the help of crypto-currency is growing.

Till the time country do  not support it or make some laws regarding it and start accepting it people will use it for money transfer and to invest or do trading. As once government encourages people in businesses can also start using it as it becomes legalize and also an effective mode of payment method.

[btcprospecter]

I wouldn't say it failed as a currency, people do use it to buy goods and services but there are many that do see the investment potential bitcoin offers.

[SaShiRaJaVu]

It's interesting to know why the volatility of the crypto currency will decrease if capitalization and the market increase significantly
I believe that, despite the unstable price of crypto currency, we will still use crypto-currencies more often, as a means of payment.

If there are many investors around the globe and and the price of bitcoin increases, the level of manipulation in price would be really low because you cannot purchase and hoard or manipulate huge number of coins when the price is high, still the whales who are holding the coins could sell off their coins and manipulate the market as we see now with the Mt Gox liquidation, they are selling off their coins in huge numbers that are affecting the market.