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Author Topic: Bitcoin failed as a currency  (Read 7110 times)
demonist
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June 05, 2018, 12:43:54 PM
 #761

I think its just more people are into using it as a form of investment because they see the potential but people are also using Bitcoin as currency but not as prominent as its being used as a investment.
Bitcoin is just doing fine just the it is. Maybe if Bitcoin became not so volatile and avoid its huge spikes and drop.
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Vampirepro
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June 05, 2018, 12:59:34 PM
 #762

I think it could be viable in the future. I doubt anyone really expected it to be around for this long and have the huge impact it did worldwide. I hope we get to see this day,
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June 05, 2018, 01:08:39 PM
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 #763

Very many opinions on this matter! bitcoin as the world currency is very ideal fit at this place! More and more people are showing interest in it! I really like that more and more pints come in in crypto coins! Shops, companies, businesses are beginning to adapt the reception bitcoin! In Brazil, for example, it is very common to pay in crypto coins! three months ago, 15,000 stores signed an agreement with Dash on accepting this coin as payment for a product or service! these are very revealing and decisive steps towards the implementation of the new world currency! But my opinion is that this will not happen soon: for one reason - bitcoin is not stable! while there are no serious competitors for bitcoin - it is subject to manipulation of very rich and influential players! In about 10 years, bitcoin will be stable and legalized all over the world! that's when the first steps to the dominant world currency will probably be taken! Maybe bitcoin will become the main currency of payments between countries, while squeezing the dollar! In any case, development is a big step and we will see a change in the global economy in the near future!
jrd2828
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June 05, 2018, 01:17:07 PM
 #764

Very many opinions on this matter! bitcoin as the world currency is very ideal fit at this place! More and more people are showing interest in it! I really like that more and more pints come in in crypto coins! Shops, companies, businesses are beginning to adapt the reception bitcoin! In Brazil, for example, it is very common to pay in crypto coins! three months ago, 15,000 stores signed an agreement with Dash on accepting this coin as payment for a product or service! these are very revealing and decisive steps towards the implementation of the new world currency! But my opinion is that this will not happen soon: for one reason - bitcoin is not stable! while there are no serious competitors for bitcoin - it is subject to manipulation of very rich and influential players! In about 10 years, bitcoin will be stable and legalized all over the world! that's when the first steps to the dominant world currency will probably be taken! Maybe bitcoin will become the main currency of payments between countries, while squeezing the dollar! In any case, development is a big step and we will see a change in the global economy in the near future!

As of this moment we can consider bitcoin really fail as a currency because of its condition in the market. Bitcoin is deep down in the market this past few months. But i we tru to look back it performance last year where it grow and grow each day until it have reached 1 million in december 2017. We can say that there is a big posibility thay it will happen again in the next few years. Juat wait for the comeback of the bitcoin. Its worth to wait.
gvnsrbtc
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June 05, 2018, 01:19:21 PM
Last edit: June 09, 2018, 07:10:27 PM by gvnsrbtc
 #765

Bitcoin price is changing every day but not like other fiat currencies, so it is very hard to use bitcoin as a currency. If bitcoin will stable in future then there is no issue to use as currency. To be a currency would need a long process, I don't think that bitcoin fails to be a currency because it takes time.
Boknoyz
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June 05, 2018, 01:19:27 PM
 #766

I think in the future bitcoin is not only a profitable investment but as a currency or a simple payment option. I don't think bitcoin is a failed currency simply because of the lack of merchants that accept bitcoin.
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June 05, 2018, 01:20:12 PM
 #767

I disagree. On the contrary, cryptomarket becomes more stable
ellabanana
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June 05, 2018, 01:22:17 PM
 #768

It would be possible but if we can notice, there are already changes in the community, like lowering the transaction fees so that it would be consumer friendly. It might not yet been serving it's purpose, but later on it will.

olyolali
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June 05, 2018, 01:23:53 PM
 #769

yes because at the moment bitcoin fails as currency because its value is still not stable hence more appropriately called as investment asset and in my opinion bitcoin can become digital currency when its value can be stable and government regulation in many countries allow use bitcoin
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June 05, 2018, 01:31:14 PM
 #770

I agree with Bitcoin failing as a currency, but it seems like a good investment. However, the price has been decreasing past couple of days according to topbit.io. I hope it goes back up!  Grin Grin
diego ramos
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June 05, 2018, 05:13:10 PM
 #771

Bitcoin is a good coin and it is a useful currency. I believe that bitcoin will become more popular and it means that bitcoin is not a failure currency.
Ale88
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June 05, 2018, 05:19:59 PM
 #772

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 we take a look at the current situation yes, yes can say it has failed, but that's because this market is still very small so the price is very volatile. In the future, hopefully a few years, many more people will come and it'll start to be used as a real currency.
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June 05, 2018, 05:30:55 PM
 #773

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 we take a look at the current situation yes, yes can say it has failed, but that's because this market is still very small so the price is very volatile. In the future, hopefully a few years, many more people will come and it'll start to be used as a real currency.
I think we should give bitcoin more time because Bitcoin is establishing itself in the market.It has started nine years ago and most people do not know about it but still Bitcoin is gaining a lot of users and many people invest in it due to its profit margins.People are getting aware about Bitcoin.Digitisation is going on so the cryptocurrencies like Bitcoin are getting popular and the demand of Bitcoin is also rising.Some nations are also in favour of bitcoin too.Bitcoin can be the currency in the future definitely.
addeqt
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June 05, 2018, 05:36:28 PM
 #774

I with you by that, but not most of the time people use it as an investment. I can't imagine a person who holds a crypto and never ever want to use it. As of now, I think I have used up almost a quarter of my earning in bitcoin. So is that mean I am hoarding and see bitcoin just an investment tool. For some, there could be the only reason why they want bitcoin, but at the long run. I think people will eventually start to use their bitcoin just what they do in fiat.
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June 05, 2018, 05:42:53 PM
 #775

Bitcoin has failed to become a currency due to its volatility. Bitcoin must have a very strong buy and sell orders and stable price levels. Just like how forex is so strong with its fair.

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 ?



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Trimegistus
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June 05, 2018, 06:55:44 PM
 #776

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 ?


Unfortunately, you're right.

And that might be the greatest failure of the whole crypto system; instead of creating a better systems than the traditional savage capitalism, human greed turned it into just another speculative toy.

 

Lucifers
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June 05, 2018, 07:15:17 PM
 #777

The purpose of bitcoin today is not the reason why people invest in it. for the moment people see it as an asset and just want to invest and make money rather than the source of regular transactions. but surely soon his full purpose will be put into effect.
taranbam
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June 05, 2018, 07:19:23 PM
 #778

I think not, it will not change. Bitcoin sat in everyone's mind as an investment and nothing more, it took several years and it does not change in the minds of people and their attitude to bitcoin just will not change
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June 05, 2018, 07:22:53 PM
 #779

Bitcoin is electronic money, it's value is not stable. It is more appropriate to invest than to become a currency. Many people still do not know what bitcoin is. I think bitcoin can not be turned into currency.

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June 05, 2018, 07:24:47 PM
 #780

Bitcoin fails to become the currency now, but I know in the future it will happen. Do not be too quick about that. Enjoy it now because it is separate from it and acceptance. Bitcoin will give us a better life, just focus alone.
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