Bitcoin failed as a currency

[esteam0115]

Now I do not expect much new money like bitcoin, bitcoin needs to be spread evenly so the price can be more stable. The fluctuation of bitcoin makes the merchant afraid to accept it. But in the longer term bitcoin may be more stable, bitcoin is not fail but has failed to be accepted currency yet. I would like to see Bitcoin as a kind of exchangeable asset like gold

[Pan Troglodytes]

Now I do not expect much new money like bitcoin, bitcoin needs to be spread evenly so the price can be more stable. The fluctuation of bitcoin makes the merchant afraid to accept it. But in the longer term bitcoin may be more stable, bitcoin is not fail but has failed to be accepted currency yet. I would like to see Bitcoin as a kind of exchangeable asset like gold

The problem is not even in the price fluctuations, beacuse this risk can be delegated upon a third party (like the payment processor, for instance). The problem is in transaction fees - in Dec'17 buying a cup of coffe for 2$ meant paying 75$ in transaction fees.

[stewert]

Very much. It depends on the increasing number of people who start using bitcoin in their lives.

[BitcoinGuru123]

BitCoin cannot become a ubiquitous currency until high power consumption required per BitCoin transaction is addressed on it's current level.

[Sanjida]

Bitcoin as a digital currency not failed currency.in the meantime there are many traders who accept bitcoin for payoff and it will be recognized by the universe.bitcoin with help Internet.i m assured he will be our posterior.

[agnostos]

Bitcoin is decentralized, the government and banks don't control bitcoin. It's true that many people use it as investment but there are some merchants who accept Bitcoin as payment.

[Vionaa]

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 bitcoin can't change in the long run. Bitcoin will succeed in the coming years because many companies support bitcoin. Bitcoin will be more successful in the future even though there are situations where prices fall. I hope many countries accept bitcoin so that people in that country can invest their money with bitcoin.

[nade70]

i think finally reach a certain level of stability and we will see how it will function more as a currency rather than as a speculative asset.

[Yarsk]

To me bitcoin has not fail in it primary purpose which is as a digital currency for online transactions but have balanced it unilateral use which is bitcoin as an assets and as a currency and at the same time a store of value, due to this multidimensional feature bitcoin can not be judge from one direction.

[hilawnasaging]

Bitcoin's goal isn't really being a stable currency but as a medium of transaction. Before, bitcoin wasn't mostly used for investing, but to make the lives of people become easy. For easy transaction, for less carrying of money and many more. Because of spreading of technology and making it more advance, Bitcoin now has evolve on becoming a currency. But still, It can't be because of stability and lack of security.

[Rana590]

i think finally reach a certain level of stability and we will see how it will function more as a currency rather than as a speculative asset.

It is not final time. It will take more times to stable. Wait little bit and see how it survives. Bitcoin has still enough potential and thus price will be rising in the future.

[Pan Troglodytes]

i think finally reach a certain level of stability and we will see how it will function more as a currency rather than as a speculative asset.

It is not final time. It will take more times to stable. Wait little bit and see how it survives. Bitcoin has still enough potential and thus price will be rising in the future.

The problem I am anticipating is that when the price goes up again, people will start to buy and sell bitcoin heavily again and it will again clog the mempool of transactions and we will again experience serious transaction fee increases. And that will open eyes for some people that bitcoin really has problems.

[Biniam Abel]

The price of bitcoin is unstable and varies continuously. I think it is very hard for bitcoin to become a currency

[Kisahazumaki87]

chances are there are still not many who use digital currency to be used in a day, and it is likely that in some years there will be extraordinary developments

[InboundMercury]

No bitcoin is not failed but there are some reason which become the barrier in this way one of them is volatility and also the price and most important rumors.

[Erik Hofmann]

When the price of bitcoin is stable and bitcoin becomes centrally managed. Now the bitcoin will become a currency

[cryptopranto]

I can't agree with you. Also i won't disagree.. Because bitcoin has use as asset. But very low use as a currency..  As we know bitcoin is getting popular. It can be changed. And it will

[FedorIzmailov]

listen maybe you are right. it is possible that the qubit of bitcoin is not quite relevant, since a very large commission cost now but as gold it is very relevant

[PrissMCclen]

Despite the price manipulation, I still have a high hope that btc will over come all obstacles and manifest it's purpose, besides the crypto is just half a decade

[Jesse Parker]

The future of electronic money market is long, unpredictable. But I hope that happens