How well does Bitcoin function as a currency?

[lasry]

Bitcoin has become the most efficient way in money transferring, its the easiest nowadays. Saves a lot of time and really helped a lot of merchants. But the thing is it really is not that stable so, there is a need to keep watch its price.

[Odlanyer]

Before the bitcoin become currency it takes long time, now bitcoin cannot called currency because some country can't recognize by the government because they doubt that they can't control it.

[holtzmann]

Pretty well I think. Many countries recognize Bitcoin as a currency and even allow to use it like payment tool. But still it has a long way to go.

[IMMBAGGA]

Bitcoin functions as currency in many parts of life but it has not been currency for all.  Everybody do not know about bitcoin so it is currency for educated class people.

[luckybit1]

There are two problems with bitcoin as a currency.its value is unstable and its  transaction processing is too low.The most important feature of a currency is that it be a stable store of  value.

[railyako]

i think bitcoin will not be considered a currency in the near future. development for the market still needs to be worked on and this may take time to happen. btc i think is an asset for now.

[nazarovv]

bitoin has all the potential to achieve all this criteria. of course in the future maybe in the next 10 years atleast

[TheClownSong]

Successful currencies meet three criteria:

(1) they are in widespread use as medium of exchange
(2) they serve as unit of account
(3) they are a stable store of value.

Most sovereign currencies fully meet all three criteria.

What about Bitcoin?

I think bitcoin meet that criteria. The obstacle bitcoin become currency is from the authorities. Regulation from government is needed if we want make bitcoin as currency. As store of value, bitcoin is very profitable, we can see it on price history and peoples who hold bitcoin already enjoying their profits from bitcoin growth

[Prince Malik]

The reason make bitcoin note stable is the fud and the ban in some country...if the world agree that bitcoin is a usful currency the price will be stable fore sure

[pareshnakar]

Not bad think it is good as a currency this is a high value market coin and preferable for as a currency and we hope that will do in short of time because bitcoin is valuable coin. 

[Janeterrekg]

Well for, Bitcoin is making a great role as a crypto currency for some of my daily financial transactions. Why? Because it helps me to give an ease, secure amd faster processing of the transaction. And moreover, Bitcoin is a very valuable coin that leads all the crypto currencies.

[saeroji92]

Successful currencies meet three criteria:

(1) is widely used as a medium of exchange
(2) they work as account units
(3) they are a stable store of values.

Most currencies are full of it.

What about Bitcoin?

I consider the function of Bitcoin as the currency in the life of the world has been very good, because Bitcoin has contributed to the global economy, but it still takes a lot of time for Bitcoin to become a real world recognized currency.

[Soots]

Successful currencies meet three criteria:

(1) they are in widespread use as medium of exchange
(2) they serve as unit of account
(3) they are a stable store of value.

Most sovereign currencies fully meet all three criteria.

What about Bitcoin?

I think bitcoin meet that criteria. The obstacle bitcoin become currency is from the authorities. Regulation from government is needed if we want make bitcoin as currency. As store of value, bitcoin is very profitable, we can see it on price history and peoples who hold bitcoin already enjoying their profits from bitcoin growth

If there's a need of a regulations for bitcoin in order to make this as legal type of spending, then so be it. Many stores and online transactions had bitcoin as their counterpart of payments system, and so far many customers were satisfied of the service. The criteria been discussed here was just suitable for bitcoin's sustainable growth as a currency, and nowadays the other private sectors started to learn how it works in merge to fiat economy.

[nikki4]

Bitcoin for me is a really great coin which is very valuable. Bitcoin has so many things that can greatly help us in our day to day transactions. Well, this crypto currency is really a good means to use as a medium for financial transactions because it is very safe and secure, faster and easy. So that is why how Bitcoin gain my trust to it as a currency.

[nmax21]

Successful currencies meet three criteria:

(1) they are in widespread use as medium of exchange
(2) they serve as unit of account
(3) they are a stable store of value.

Most sovereign currencies fully meet all three criteria.

What about Bitcoin?

Bitcoin has its merits, which never will be for fiat money, for example, the absence of an intermediary, and those criteria that you listed will come with time.

[KimmyF]

Successful currencies meet three criteria:

(1) they are in widespread use as medium of exchange
(2) they serve as unit of account
(3) they are a stable store of value.

Most sovereign currencies fully meet all three criteria.

What about Bitcoin?

I think bitcoin meet that criteria. The obstacle bitcoin become currency is from the authorities. Regulation from government is needed if we want make bitcoin as currency. As store of value, bitcoin is very profitable, we can see it on price history and peoples who hold bitcoin already enjoying their profits from bitcoin growth

If there's a need of a regulations for bitcoin in order to make this as legal type of spending, then so be it. Many stores and online transactions had bitcoin as their counterpart of payments system, and so far many customers were satisfied of the service. The criteria been discussed here was just suitable for bitcoin's sustainable growth as a currency, and nowadays the other private sectors started to learn how it works in merge to fiat economy.

I definitely agree that the Bitcoin meet the criteria of a successful crypto currencies. Well, for me Bitcoin is he King of all the crypto currencies because when the prices of it comes down, all the currencies will be affected as well as if it goes up. The Bitcoin is a really great medium that we used for out financial transactions that give us a way more easy, faster and secure and most especially a decentralized currency.

[ajiejot]

Successful currencies meet three criteria:

(1) they are in widespread use as medium of exchange
(2) they serve as unit of account
(3) they are a stable store of value.

Most sovereign currencies fully meet all three criteria.

What about Bitcoin?

Bitcoin is one of the best currency. Specially it is crypto currency, you can use it without going to the bank, with just your mobile phones, you can send or receive money anytime, anywhere. That is one of the best feature of crypto currency or Bitcoin.

[1Referee]

There are two problems with bitcoin as a currency.its value is unstable and its  transaction processing is too low.

Nothing in the world is stable, and it isn't meant to be stable. Bitcoin needs some level of volatility to attract liquidity, because being too stable as asset will eventually work against you. Not even your fiat currencies are stable. Regarding slow processing speed, LN will deal with that in the best possible manner.

The most important feature of a currency is that it be a stable store of  value.

People have different views on what a store of value should be, but the main thing is that we don't want our wealth to lose purchasing power in the long term. Fiat in that regard is a horrible store of value. It's nothing more than a convenient way to slowly burn through your purchasing power. People need to wake up for once. Even Gold hasn't been a good functioning store of value. If you bought Gold exactly 5 years ago, your net result would be a ~0.10% loss. If you add that fiat keeps losing purchasing power year on year, your loss is far greater than that.

[Gotumoot]

Bitcoin for me is a really great coin which is very valuable. Bitcoin has so many things that can greatly help us in our day to day transactions. Well, this crypto currency is really a good means to use as a medium for financial transactions because it is very safe and secure, faster and easy. So that is why how Bitcoin gain my trust to it as a currency.

There are just some countries that used bitcoin as a currency. Bitcoin is created a digital currency, but as we can see, its best used is for investments. But as a currency, i think bitcoin is fast and safe to used, because when you used bitcoin in a transaction, it was anonymous. There are also bad effect of being used anonymously, because bitcoin also being used by criminals to exchange it to illegal things.

[nurulhmani1280wat]

My opinion about bitcoin is the only true digital currency on nowadays continue to increase the intensity of its use. but what you say in the post, I think what the world wants from bitcoin can not be the same and must be different. Until now the bitcoin currency is just a digital currency that is only for investment in it.