Bitcoin failed as a currency

[Dancobit]

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 ?

Bitcoins failed as a currency mainly because of the over-inflated value against its very small supply. How can a currency like this take over the world when the actual supply can't even cover a whole country. And imagine only the rich and the middleclass men has access to bitcoins. A currency should be handled by anyone.

Yes It is certain there is an impact for the business world especially that has the dependence of raw materials from the outside. Inevitably very affected. For example small and medium industries such as craftsmen know tempe. In addition, middle-class industries such as garments will also scream.

[airdnasxela]

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 the reason why bitcoin isn't really considered as a currency is because there is no really true country who will use it as their national currency. It is used worldwide but only a secondary option to the national currencies available. The only way that it will be used as a currency is when it will be used by a country as their national currency, but it is impossible from now.

[victory1]

Right now most people are indeed using it as a form of investment rather than using it as a currency. This is because they are able to make profit and take advantage of the volatility.

Once more people starts to adopt bitcoin and it becomes less volatile, people will stop using it as an investment and start using it more like  a regular currency.

[Shimmiry]

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 is because it has a high volatility so bitcoin as a payment would be less effective. Imagine if bitcoin is used mainly as currency everything should be adjusted every hour or span of time to update the prices and value. It would be very confusing specially to users and investors so they are taking bitcoin as an speculative asset obviously to have profits.

[eikzbtc]

None of countries in the world can make it their national currency.
That is the thing, it's yours and mine, and ours at the same time. That is what I like. I personally uses BTC as a mean as payment, so as a currency in a most common way, many times a week. And it works perfect

[Ngewex Yuk]

I think this is a difficult thing to be a currency, and I think bitcoin still and continues in the process to be a currency, we must always be sure and optimistic that someday bitcoin ready and will become international currency.

[Serious475]

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 ?

My first thought about Bitcoin is just a currency. After researching why many users use Bitcoin because it is a form of investment. I agree with your opinion that Bitcoin is more successful as a form of investment. I think in the future many people/companies will accept Bitcoin as a payment method. Bitcoin will still be a form of investment even in the future if its volatility will still exist.

[fernando48]

Bitcoin is just gaining momentum to the world of financial. Bitcoin did not fail as a currency, this year it will be possible for them to pay even for coffee

[Wylie330]

Bitcoin hasn't failed yet. Bitcoin as a currency will take several years before it becomes effective. But as people and businesses are now aware of the power of blockchain, in time, we can see that our world will adopt Bitcoin and it will become the first ever crypto that becomes currency.

[camito]

Bitcoin does not failed to be a currency, it just succeed and used more as an asset and storage of money. It is also used as a currency but not that widely because of its acceptance and legality. But there are still people and companies accepting bitcoin as a currency. Also its volatility contributes to the reason why more people prefer to use it as an asset rather than currency. Currency should have fixed amount/price which bitcoin doesn't have.

[niz3r_nade]

I can not predict this, because the future of bitcoin is still long. we never know what will happen in the future this bitcoin. we know that bitcoin is a digital currency that can be said to be an asset for investment, let alone the price is unstable.

[joganuts]

Bitcoin is just gaining momentum to the world of financial. Bitcoin did not fail as a currency, this year it will be possible for them to pay even for coffee

I tollay agree with your statement, yes the bitcoin do not totally failed as a currency. There are some holes with it. But as of now it is rapidly improving and developing . There are also some countries that consider it as an official currency.

[Sand King]

I think this is a difficult thing to be a currency, and I think bitcoin still and continues in the process to be a currency, we must always be sure and optimistic that someday bitcoin ready and will become international currency.

I think we cannot say this yet because bitcoin is still working and it is not yet down. Bitcoin doesn't failed to be a currency yet and it is still pursuing that main goal why is it still existing

[Yudai]

I think this is a difficult thing to be a currency, and I think bitcoin still and continues in the process to be a currency, we must always be sure and optimistic that someday bitcoin ready and will become international currency.

I think we cannot say this yet because bitcoin is still working and it is not yet down. Bitcoin doesn't failed to be a currency yet and it is still pursuing that main goal why is it still existing

You are definitely right. Maybe there are some loopholes like its unstable exchange value. But what certain is tthat the bitcoin is still developing.

[Radio-Active]

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 ?

More like 'Not yet success' for me. For bitcoin to become a currency is a long goal because bitcoin need to beat fiat money first.
Of course it is necessary for bitcoin to improve and develop the platform to be able to used by many peoples. The value of bitcoin is still fluctuating much.
But we dont know the future, it could be stable as gold.

[mmo4me.2016]

Bitcoin and altcoin are great for online payments! I suppose so, but need to develop systems and process accept Bitcoin! Bitcoin and altcoin will thrive in the near future!

[osasshem]

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 a form of investment that is generally converted into any native currency, but for it to be generally accepted by all, that will or might not happen, cause it is a speculative digital currency meant for the internet, with no central control.

[alvinmtp]

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 ?

Blockchain technology has been offering bitcoin in the past 10 years since it was introduced in the market, there is a huge possibility to bitcoin's changes in both its nature and the manner of its systemization in the market.  This makes it unfit to act as a currency as currency is expected to show some stability but Bitcoin shows fluctuations in a matter of hours. Trading bitcoin is one of the driving force that makes bitcoin price high and low, but some country already bans it because for some reason.

[MUSFIKAR]

Yes the volatility in Bitcoin is something of a concern for something that is meant to be a store of value. However, the simple fact is that it was bought for speculation, and not as a store of value or a medium of exchange. Number of speculators dwarfs the number of people who buy Bitcoin for some practical use. This is an example of a FUD but for all inclusive purposes I will comment. There are many traders who are currently receiving Bitcoin, and many more are beginning to accept it.

[connexus]

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 ?

That is No because bitcoin can still be used as a currency not only as a form of investment. Is just that many countries do not adopt yet bitcoin as a currency. But there countries who accept bitcoin as payment in different establishments just like in Japan and Germany. Eventually time will come that countries would accept Bitcoin as means of payment in different store it is just a matter of time and knowledge for the people to be able to adopt the currency.