Bitcoin failed as a currency

[Turkish88]

Way to making bitcoin more stable its controlling exchanges.
Cryptocurrency exchanges working in chaos mode, there is many wash trading

[DainSLane]

Bitcoin it is not failed as a currency in terms of digital currency it is very useful for the people to purchase and payments bill through online transaction, Bitcoin is very high in value as of now when we converted into fiat currency. Most of the country are accepting bitcoin as a currency.

[HudiBaba@06]

In my Opinion, this is just the beginning of future in cryptocurrencies. where the development of the cryptocurrencies is under-construction. to be sure once Bitcoin gets legalized in every part of the country we can sure that there are pretty good chances for Bitcoin being as the currency. as at present, it holds all the currencies in its way of holding pretty values under it. Later on, it will make sure it will emerge as a currency itself. as Bitcoin did not reveal its true powers yet now is not the right time to prove something. In this run of financial digital market its all about balancing values in the market to make most of it as a positive outcome. all I want to say is we cannot be sure yet the game has been Begun. more wonderful things are yet to be amended on its way. This is a long run for success where we all are running together in Building cryptocurrencies.

[putriangel]

I can not argue that bitcoin has failed as a currency. Sometimes bitcoin is more likely to be seen as an asset. But bitcoin is also done for transactions and this is the same as currency. So I can not assume that bitcoin fails as currency.

[Leo Barnes]

Bitcoin as of now can never be a currency because bitcoin is lack of properties as a currency compared to real money.

[liberty02]

Another way to look at it is that it has succeeded in becoming a digital currency as it is being used by more than 100,000 merchants according to wikipedia and that was in 2015.

As of now as people here have mentioned because of the volatility of its value makes the usage of it in daily transactions impractical. In the future when there is less volatility and as we reach the release of all 21 Million bitcoins then that is the time that I can see Bitcoin being used just like fiat money.

[Hypnosis00]

I can not argue that bitcoin has failed as a currency. Sometimes bitcoin is more likely to be seen as an asset. But bitcoin is also done for transactions and this is the same as currency. So I can not assume that bitcoin fails as currency.

Bitcoin is considered as a failed currency because when you think about currency then you know that it is always been use in transactions like for a daily basis so you need to use it for everyday since it is a currency but bitcoin is just like an asset just like you said and that means that bitcoin is not that good in terms of using it because of the fees and network problems.

[kasemin]

Yes Volatility in Bitcoin is something of 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. The number of speculators dwarfs the number of people who buy Bitcoin for some practical use.You strongly believe in the future of this matter, Bitcoin will become the major currency in the future. This is just the beginning.

[9emb3lelit3]

This is still the beginning, and we can not say that Bitcoin has failed from, the system, all its programs, and its efforts to convert fiat currency into digital currency. The future of Bitcoin is still bright and can grow better in the future, and I firmly believe that Bitcoin will succeed as a digital currency, as I have seen that many great countries have followed the Bitcoin system and program.

[Trimegistus]

Yes Volatility in Bitcoin is something of 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. The number of speculators dwarfs the number of people who buy Bitcoin for some practical use.You strongly believe in the future of this matter, Bitcoin will become the major currency in the future. This is just the beginning.

A currency has to be regulated, by definition.

BTC is decentralized and there will never be a world institution to regulate crypto.

Besides, I don't want to have a currency produced almost exclusively by the Chinese...

BTC failed, but the PoS model has a good chance of succeeding mainly because anyone can do it without the need to run a giant mining farm.

  

[ggh0stt1]

I think its just fine if people see Bitcoin as a investment, its just part of it and they're just making the best out of Bitcoin. For your concern, if Bitcoin stabilizes in the future and became suitable as currency, then people would start using Bitcoin as currency. Its just at the current moment people are just making the best out of the both worlds, Bitcoin as currency and Bitcoin as investment.

[DisWhale]

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 ?

Everyone has his ambition for holding Bitcoin. Bitcoin has not failed as a currency just that people prefer to hold it for long term to earn some good amount of money when the price surges. You can still purchase goods and services online with Bitcoin from shops which accept Bitcoin.

[mrbomnguyen]

Bitcoin nowaday is a currency but tomorrow who know? People are trading on the exchanges everyday, using bitcoin as main currency. So, we will have a different COIN to change Bitcoin but not now, it's in future.

[coinwhat_]

It probably won't be used as currency because the biggest problem I see with bitcoin is the genesis wallet containing 1 million coin. That single wallet can make it go near zero in valuation if even a single coin moves from there.

[lamcouz]

it's never too late to buy bitcoin especially this year since it is more likely stable upon its price. There are some speculations that after this year bitcoin will rise up again and will become enormous. Besides, Bitcoin is volatile, meaning anytime the price could change in an instant so that even if you buy now and hold it up for a long time, there's a chance for you to recover what you have invested upon it.

[Dheo]

it's never too late to buy bitcoin especially this year since it is more likely stable upon its price. There are some speculations that after this year bitcoin will rise up again and will become enormous. Besides, Bitcoin is volatile, meaning anytime the price could change in an instant so that even if you buy now and hold it up for a long time, there's a chance for you to recover what you have invested upon it.

So while the price of bitcoin is in the low price we should buy more bitcoin because who knows? After this bitcoin can increase a lot and you will regret because you can not buy at the dip.

[trimulia]

not for now,bitcoin is number one cryptocurrency in coinmarketcap with largest volume but high risk too

[Saveralll]

Bitcoin nowaday is a currency but tomorrow who know? People are trading on the exchanges everyday, using bitcoin as main currency. So, we will have a different COIN to change Bitcoin but not now, it's in future.

if bitcoin becomes the main currency it is impossible because the state and the government more trust with the original currency of the country's bank. bitcoin no one controls and can be used by everyone / anonymous. fear later if bitcoin is used as the main currency, bitcoin will be used as a crime that will harm the country. there must be a control and set the bitcoin first so that bitcoin can be a currency.

[Zachwolf]

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 is a currency in the community of crypto world in my ubderstand. Won't be able to become a global currency because many countries not accepting it. It is only used through online transaction and investment of online business.

[panfils]

Yes, everyone is using it just as an investment medium. This will be very hard to change now in my opinion.