Bitcoin failed as a currency

[Pearls Before Swine]

I don't think it's exactly failed, since I've used bitcoin to buy things numerous times in the past two years or thereabouts.  One of the biggest issues in my eyes is the extreme volatility, and that's why you wouldn't want to get paid in bitcoin but cash money instead.  No one wants to hold a currency that could drop by 30% (or more) by the time the sun comes up in the morning!

And on the other hand, what makes bitcoin so attractive to people is the fact that it's volatile and the potential for capital gains is so great.  Because of that, and all the people trading it, bitcoin is indeed an excellent speculative asset and could be a decent store of value, but again only if volatility comes down.

Think about the fact that bitcoin isn't even 10 years old yet.  It's still far too early to consider any aspect of it "failed" yet.

[jhache]

If the lightning network ends up being a dud than yeah you can say that Bitcoin failed as a currency but if it becomes a success and widely used than saying it has failed as a currency would be wrong. The main purpose of bitcoin is to make the people the owner of their own money and it is great in doing that.

[Arata]

Too early if we conclude that bitcoin fails as currency. Since the beginning bitcoin main function is as an asset and commodity but further developed so that it can be used for payment. It is a success not a failure. Bitcoin just needs to improve to qualify as a currency.

[wormgummy019]

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 ?

For me, bitcoin can't change in the long term. Bitcoin will be successful in the coming years because many companies are supporting bitcoin. Bitcoin will be more successful in the future even though there are situations that the price fall. I hope that many countries accept bitcoin so that the people in that country can invest money.

[Damn3d]

I think that bitcoin is only at the beginning of the great long way of mistakes and successes, but we need to adopt and support it all ways

[Market-desi]

indeed the purpose of sotosi nakamato creates bitcoin as money. maybe bitcoin can not be money only in some countries only. but in certain countries bitcoin can already be used like paper currency. such as in Korea and Japan .

[Liona88]

 i believe that one day bitcoin users will beat all payment systems like paypal, neteller, and so forth. Of course all countries will legalize bitcoin so bitcoin becomes the international crypto currency

[Shiversnow]

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 ?

Many people prefer to bitcoin as investment because it is more convenient to use as investment. However, many people say that bitcoin can also use as currency where you can exchange it in some valuable things especially on online market. Furthermore, I agree that bitcoin is more successful as a form of investment.

[adolf512]

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 the moment, bitcoin is really used more as a tool for investing, but it should not be forgotten that in some countries it is accepted as a means of payment, and the number of establishments where bitcoin can be used as a payment is also increased.

[kuto]

I think not, because until now bitcoin is still used and not completely abandoned. maybe for other currencies are also the same, fall and rise repeatedly.

I don't agree that Bitcoin failed as a currency. We never know what will happen in the future. As long as Bitcoin survive longer there's a bigger chance that it will become a currency in the future. Our technology is improving as will as the way of living. Hoping for the goodness of our economy through Bitcoin.

[Jessica1234]

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 ?

It depends on you if you want to use bitcoin as an investment or for purchases purpose. No one is dictating you what you wanna do to your coin.
About me, I'm using both. If i want to buy something online, i pay thru bitcoin; but i also invest, for it to profit more.

In the long term, of course bitcoin will increase its price (no doubt), so it is also wise to invest. So I'm suggesting you to invest.

[jovs]

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 still considerable as a currency, it is still circulating in the market as a medium of exchange in various countries worldwide, although it is  more popular as an investment choice, it gradually inches its way to succeed as a currency. The expansion of coverage and acceptance from big companies worldwide is a sign that bitcoin is still marching its way to become a stronger currency in its full potential.

[euodiasuryani]

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 will be as a payment. Because nowadays in digital many companies use it to pay their pariner that help them in build digital assets. Maybe will be expand to others area too.

[rc411]

It'll take a lot of time and many processes before bitcoin becomes a currency. Even tho its popular, you can't just change any country's currency specially the big ones.

[Ambrosius]

Actually bitcoin is potentially good as currency but i guess now bitcoin fails as currency because its value is unpredictable and can change anytime. Perhaps along with the progress and growing the better bitcoin can be perfected and used as a currency.

[Tagus45]

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 ?

It is a specialty of bitcoin, bitcoin can be used for online transactions, and also bitcoin can be used as an asset because bitcoin values can increase high, holding in the long run can provide maximum benefits.

[FanaMerahJambu]

That is actually a big problem in my opinion that everyone is ignoring because of returns it is giving. The primary focus of its use should be as a payment medium only.

[gidaahmad]

I do not think so. Bitcoin is a huge success as a cryptocurrency. For me, Bitcoin is enough as another coin exchange currency in the exchanger. Because I never use Bitcoin to shop for certain items. As long as Bitcoin has demand and Value, Bitcoin can we call a successful cryptocurrency.

[naldal kaka25]

In today's state, bitcoin cannot be used as a mass means of payment, and in the future such as I believe will not change if not be more hard fork.

[Angna27]

I think Bitcoin is the one strongest coins in crytocurrency, and i think Bitcoin never failed as a crytocurrency, because bitcoin now are more reliable, you can used it for transaction like payment,, buy goods and you can convert into cash. Until now for me bitcoin is the best cryptocurrency even the price is changing, but this is normal.