How well does Bitcoin function as a currency?

[delphic]

Bitcoin is a currency,and the leading, but in its segment of influence.Soon his influence will spread.This all has long been coming.These are the technologies of the future that we need to support in order to continue to develop.

[Naughty Princess]

I think it is doing pretty good.It is moving at fast pace and is  trying best to replace paper currency.But still i would say transation cost in case of BTC is much more as compare to other visa cards and master cards.So BTC need much more to improve.Moveover BTC is still not accepted by many countries.So a lot more things are needed to be done ,so in coming years it can be expected.

I think it is good for those country who does not accept bitcoin to learn from the country that adapted bitcoin and how it helps for the improvement of the economy. They should not always see the bad side of it but also the good impact of it to the small people who wants a job and good earning. They could accept bitcoin when they realize how good it is.

[thankyoulord]

It functions well as a currency because it has been used to exchange value. People who make use of it in a way that it feels and fills the need for a currency will understand, and know the true importance of its worth. Do not forget that one of the features of a currency is its wide acceptability and market stability. But the question here is, has bitcoin maintained market stability enough to be tagged a currency? has it been widely accepted in some countries  for it to  merit the name change/category to digital currency.

[sneeze11]

It will take some more time before btc is recognized a real currency. As of now, it's just a store of value, which is totally fine. I don't mind btc being recognized as only a store or value..just look at gold.

Bitcoin will really become one of our world currencies but it will take time to wait. Aside from currency the function of bitcoin can be investment. But, instead of using investment or asset many people use it as currency because of fast transactions. If we want to happen it we should support it.

[project_delta]

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?

Its just the matter of acceptance. Right now its an asset but I highly doubt that it will ever replace any country currency.

[pat4cryptoreal]

In terms of serving as a currency bitcoin is still in incubation stage, it has not enter the mainstream as a currency yet. The government of some countries are the major barrier of bitcoin entering the mainstream. For bitcoin to start functioning as a currency properly, so many merchants have to start accepting it for goods and services.

[babykajima]

Currently, Bitcoin isn't a currency. Its unstable value too easily lost to be considered a true currency and current bitcoin not really universal in the world. But in the future, when people use more widely, bitcoin may become the global currency.

[zubrr51]

As a currency, Bitcoin itself has proven well. He is actively trading on exchanges, there is interest from investors.

[eashikde]

At the moment, we can’t say with certainty how Bitcoin is used as a currency. Since at this point in time there are very few shops and institutions where I accept payment by Bitcoin. We need to develop further and then we will be able to answer this question.

[abhi777]

I would say that i don’t think bitcoin functions to well as a currency, this comes down to the fact that there isn’t much adoption at all from companies to accept bitcoin, which is vital to the success of bitcoin. Also, when the market becomes congested fees get too high.

So I don’t think we’re too good of a currency as of right now.

for now in my country the function of bitcoin as a currency cannot fully work because the government in my country still prohibits bitcoin from being used as a direct transaction if it is already recognized by all countries and everyone is likely the function of bitcoin as a currency will work optimally

I think, currently bitcoin cannot become a legitimate currency. because there are still many governments that forbid investing in bitcoin. if the government can approve bitcoin as a legitimate currency maybe bitcoin can be an optimal currency in some countries as an official eye for shopping.

[liseff3]

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?

IMO, bitcoin has been used widely even for now its capitalist value is the largest in the world. Bitcoin already has an account unit which we usually call a wallet (ATM online), if the government wants to legalize it maybe bitcoin's physical ATM has spread everywhere. If, bitcoin's compared to fiat currency of course the fiat currency's more stable. But actually, the value of fiat currency's unstable because its value still depends on gold supply and demand.

[nivea23]

At the moment, bitcoin is serving people by investing or should I say the best investment so people make a lot of money and even help poor people like people who can use the internet and computers and unemployment I can not predict the future, but what I feel and know is that the future bitcoin will definitely become the global center of gravity, but it is now widely used.Something I have realized is that Bitcoin is actually not a currency. It does have some features of a currency since it is accepted as form of payment in some parts of the world. But Bitcoin being a legit  currency, not quite there yet! In order for Bitcoin to become a true currency is for the governments to declare that it is a currency and that it is accepted in every part of the planet.

[SIDDHI777]

At the moment bitcoin does not function as a currency very well not because bitcoin's fault but 90% of user's who use it doesn't use as a currency and that is the reason it is not a "stable store of value" because most of the time there is a high volatility in bitcoin due to the increase and decrease of demand and supply in the crypto market but when considering wide spread it is doing a great job so in the future bitcoin will definitely function as a currency

[redsap]

bitcoin are still not using commonly in the worldwide because many people are still not undersatand on it, and lack of medium that can make a bitcoin transaction are easy using for low class people if bitcoin are user friendly well that can make a some bright thing

[Glok17]

BTC (and all crypto currently) seriously lacks stability, that is the main problem but we should remember that their prices are not regulated.

[HanaBin]

Firstly, it help users to protect their own information, remain anonymous.  Moreover, the transaction between two parties will be cheaper and more quickly than ever. I think so,

[alexhunter54]

bitcoin  is  not  a  currency  since  it  is  not  accepted  from all  governments  but  i  think  it  is  going  to  become  soon  and  everything  will be  better than  now .

[Cryptogid]

Bitcoin is not a legal currency for now,it does not have the store of value thing you quoted, its a universal means of exchange,am quite sure it will be soon..

[Amevalentine]

bitcoin  is  not  a  currency  since  it  is  not  accepted  from all  governments  but  i  think  it  is  going  to  become  soon  and  everything  will be  better than  now .

bitcoin is a digital currency that appears at this time so I think bitcoin is one of the virtual money helpers of old so this is the second way if we don't have money but we have bitcoin this is one solution for everyday life

[Elqui]

Bitcoin will soon have those criterias because people are now starting to know bitcoin, soon people can use it on their everyday lived just like their currencies.