Bitcoin failed as a currency

[happistarjp]

I think it's early to say that Bitcoin had completely failed as a currency. Bitcoin is still being used by many people. It's true that it would be hard for Bitcoin to replace fiat money, but there's an immense possibility that Bitcoin will have its own success

[chailatte]

I think it's early to say that Bitcoin had completely failed as a currency. Bitcoin is still being used by many people. It's true that it would be hard for Bitcoin to replace fiat money, but there's an immense possibility that Bitcoin will have its own success

I agree with you. Cryptocurrency can definitely be stablised to the point that it is no longer volatile.
Perhaps the next global crash will answer our question

[Missterio]

I do not think that bitcoin has failed. I think that in the future it will be the world's number one currency. Because nothing can compare with bitcoin. It is very convenient and popular and very soon it will be even more popular.

[roborttyler]

I think bitcoin price wouldn't be stable. But I still disagree about bitcoin being failed as currency, in my country (philippines) we have an application designated for bitcoin where we can use it to pay bills and any other stuff.

[Wolfgang.Smith11]

We can't really tell that right now because I think bitcoin is not a failure as currency. It's too early to say that bitcoin is for investment only and a speculative asset. If bitcoin will stable in future then there is no issue to use as currency

[RoftheN]

Bitcoin really has failed as a currency as people now use it as more of an investment and an asset instead of as a currency as it was intended to be used when it was created. Which is really disheartening. It is partly why the price of bitcoin is suffering because people are not using it as intended so trading volume is down which means that the value of the coin is down

[Poorman80]

Maybe and it is a possibility. Yet while people come and go selling and trading everyday with only a little utility or usage it will not be that stable. So I guess it will remain volatile and may not be used as a currency unless also if the system is changed. And some additional advantages are added to the system to avoid loses on the part of the investors like giving interest to holders of coins and other encouraging methods.

[Mandarava]

I think it's early to say that Bitcoin had completely failed as a currency. Bitcoin is still being used by many people. It's true that it would be hard for Bitcoin to replace fiat money, but there's an immense possibility that Bitcoin will have its own success

So far, it has been successful only for accumulating capital, and for investment. But for payment, it is not suitable. Too high transaction costs and too few transactions can be performed per second.

[rajkr]

It does have so much fluctuation in its price in comparison to the fiat currency. So one can not hold it fro currency purpose.While the usage of BTC as currency is much limited because only at few place you can do payment from BTC . And its availability is also limited.

[Gurjasmeet]

There is possibility can anyway & anything. mostly people are used bitcoin as a currency for  trying & assets. it has no stability in the market. if there is stability then become as a currency. but I think it has convert into currency will long period. There will be no chance bitcoin, failed as a currency.

[Christian_k]

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 ?

Maybe in the distant future when volatility decreases, it will definitely become a means of payment, and not be speculation investment.

[Pan Troglodytes]

Ultimately I think if Bitcoin fails as a currency it'll still succeed as a store of value. It has a limited supply and once its fully mined it'll be sought after like gold.

I think that blockchain technology itself will succeed, its just which companies is the question. This is why I am bullish on bitcoin long term. No matter what happens bitcoin will always be the first use of blockchain technology. In years to come I envisage people saying they want to be able to say they own some of the original currency, the coin that kicked it all off.

I guess time will tell though!

No. Why would people be seeking it if were impossible to use it? For the purpose of growing their collection?

No, I tell you guys, if bitcoins ultimately fails as a currency, then its value will go towards zero and it will be no store of value either. It is sad but it will happen.

[dante golo]

When the majority of countries have accepted the existence of bitcoin officially it is most likely that bitcoin can be used as a means of payment It can still happen but in realizing it takes a relatively long time because it still needs a variety of evaluations too long to keep the original currency maintained.

[naldal barcelona]

You can not say this about the currency for which you have the most part of the capitalization of the crypto-currency market. The number of investors and its correct development will leave it in the first place. And that it takes time.

[dadanpradana]

like its difficult to be a currency, because the nature of Bitcoin who always up and down and can not be in command of a party such as government or financial institutions.

and all countries have their own currency, so if Bitcoin is a currency, then which country will be its Bitcoin currency?

[btcmmo9314]

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 the technology of the future, I believe in the future it will be used in parallel with paper money. It is developing well, and Bitcoin will be a major currency in the future. Let's wait.

[takadada]

Bitcoin it does not become the world's currency, bitcoin has existed as a trading tool, in some countries also use bitcoin to pay at some online stores or supermarkets, the current bitcoin is only used to sabotage

[lemonzi]

I do not agree with bitcoin because bitcoin is a crypto currency and in this time only a few people have understood and used this currency but in the future Bitcoin currency will become so popular. That all people will start using this currency in their daily transactions.

[Dortira]

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 ?

In the long term, bitcoin will show its insolvency as a means of payment. In other words, bitcoin will die. But it will not happen soon.

[Henry Sy]

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 ?

Indeed! Once the market gets bigger (considerably bigger) unpredictability should diminish fundamentally. The in addition to the lightning system will set Bitcoin up for use as a money. At present right now with its unpredictability, individuals see it as a theoretical venture.