Bitcoin failed as a currency

[BountyX]

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 am afraid not, unless something critical and radical would change in the way Bitcoin works. We will have crytpcurrencies used as currency but Bitcoin may be destined to be confined to its status of digital gold.

[hakertajniak]

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 not only currency but an asset investment indeed. a volatile thing such as bitcoin is really hard to become a currency that used globally.
but we don't know about future, everything can be occurred in cryptocurrency. maybe cryptocurrency will stabled enough in the future to become world currency.

[KingScorpio]

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 ?

no,

a currency is also a form of social managment of a society people accept money as a form since it represents something that they value, a speculative asset isnt it, besides, evaluating bitcoin in the currency of the current most influential world's state is already showing how low you are with your bitcoin as currency agenda

[OrangeII]

the only thing that makes bitcoin fail as currency is its very high value, and its number is limited. well, besides that there are so many things that make bitcoin become more hampered, like the many shortcomings of bitcoin that is not preferred by some parties.

[fazian126344]

bitcoin is very nice and good cryptocurrency in the wold

[kalph22]

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 you mean if Bitcoin will change into a proper or real currency like real money, then for me its a No. Bitcoin really meant to be a some sort of online payment like "PayPal", but it's become more successful to be an investment. If Bitcoin want to be a currency it should be stable like real money.

[st tiger]

I think bitcoin not exactly failed as a currency. If we think about bitcoin to use like real money to flow that can not happen. Bitcoin is much more than that. Bit coin is an investment as well as a way of payment. So a regular currency can not do this. So I think bitcoin never failed it has achieve a new destination of its own.

[letzdodiz]

Let me elucidate some data for you mate, Bitcoin was never assume to be a cash yet an online cash when you can purchase things over the web or whatever else, in this kind of exchange have made its absolutely impossible you can be find whom utilizing the Bitcoin dissimilar to when you pay things over your credit/charge real card, the thing that bound these limits was the namelessness of paying things utilizing Bitcoin, as I speak Bitcoin is certain as a type of speculation yet for my point of view of view just route back in the last quarter of 2017 starting at now .

[Kocret02]

I think bitcoin not exactly failed as a currency. If we think about bitcoin to use like real money to flow that can not happen. Bitcoin is much more than that. Bit coin is an investment as well as a way of payment. So a regular currency can not do this. So I think bitcoin never failed it has achieve a new destination of its own.

if bitcoin fails i think bitcoin nowadays has no future and high value. besides that bitcoin now shows a significant movement for the price so i think bitcoin i can say as success is not a failure for cryptocurrency.

[Duogembrot]

I think bitcoin is not very suitable if used as the main currency in the world, bitcoin is very suitable and successful if it becomes an alternative payment that can be used for several payment methods.

[Daseento]

Eventually it will become stabilise someday, different government are making efforts to understand the technology behind it while some tertiary institutions have started it as a course. By the time the tech is fully understood, the volatility would reduce or eliminated. Only then, can it become a currency.

[bitfocus]

Thanks for your wrong and childish opinion, dear "failed to use own brain" human!

[DoublerHunter]

I think bitcoin is not very suitable if used as the main currency in the world, bitcoin is very suitable and successful if it becomes an alternative payment that can be used for several payment methods.

Bitcoin is only suitable for being an alternative currency for making payments especially the huge payments because it is a great choice to use bitcoin instead of other currencies since the process of making payment using bitcoin is not that hard and you just need to use your bitcoin wallet and send it to the another address and you don't need to worry for some verification because it does not work like the banks. So your money will be sent and received in just a few minutes.

[EEEian]

Isn’t he correct in the past tense that it has failed as a currency? I know there is the LN to come and without getting into that debate right now,buying things with BTC is still hard. Plus everyone is into hodling and not spending? And where is it’s liquidity in the long term if it’s deflationary, for unforeseen events? And what happens to BTC or other if you disconnect it from the dollar,imo it would be worth little or perhaps beans.? Am I right in thinking it only has monetary value because it’s linked to the currency it’s trying to destroy?thats hardly a great model.

[Gtrust233]

i think good investment . sometimes its risky

[toast]

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 ?

with the advancement of the times and technology I think maybe bitcoin could be a currency recognized by the whole world and that investors hope in investing with bitcoin

[fire rab1]

Bitcoin was never intended as a traditional currency. It was "created" as an electronic payment system based on cryptography and it has succeeded as a pseudonymous decentralized digital currency.
Many people used it as a form of investment, trading center, form of payment and especially it is also serves as another source of income for those people who already had a job.

[esa2782]

Yes, nowadays bitcoin is more of an investment, but still bitcoin is a currency digital one, eventhgouh not many parties except bitcoin as a payment but i think the more people use and secure it as an investment the more it has change to be used as currency, even it is decentralized it could create a borderless economy in the real meaning not jus a free market label or something.

[jaaeeeyyyy]

This is such an example of FUD but for all inclusive purposes I'll comment.
There are plenty of merchants that currently accept BTC, and plenty more are starting to accept it.
You can call it an "asset" if you'd like, but the fact remains it still holds value and can still be used to acquire goods and services, just like fiat can.

Well yeah, the fact that bitcoin be trade to goods or services are considered most likely a fiat currency will not fully distinguish the bitcoin as a currency , it is more on a asset since its price and value will depend on the market like gold, the value of gold will gets cheap if there are more supply than the demand of gold, same as the bitcoin since it has a high volatility it can't be considered as a currency but a investment.

[dongbat03]

This is such an example of FUD but for all inclusive purposes I'll comment.
There are plenty of merchants that currently accept BTC, and plenty more are starting to accept it.
You can call it an "asset" if you'd like, but the fact remains it still holds value and can still be used to acquire goods and services, just like fiat can.

Well yeah, the fact that bitcoin be trade to goods or services are considered most likely a fiat currency will not fully distinguish the bitcoin as a currency , it is more on a asset since its price and value will depend on the market like gold, the value of gold will gets cheap if there are more supply than the demand of gold, same as the bitcoin since it has a high volatility it can't be considered as a currency but a investment.

bitcoin is never been failed because it already in a form of  currency but in digital type and is now use by many people world wide in payment transactions.