andriw
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July 11, 2018, 10:33:42 AM |
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at the beginning of the creation of bitcoin, bitcoin is as currency which of course serves as an alternative means of payment
but as time goes by and the popularity of bitcoin, bitcoin develops into an investment asset
so I think the most appropriate is to address bitcoin as a capital gain
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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leoliln45
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July 11, 2018, 12:42:24 PM |
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some people don't like investing with bitcoin for them it's a currency they don't care about it that much , but I think we can use it as both way, why can't you use your currency as investment it can be useful for earning profit but investing on gold is different thing it is not unstable like currency
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farhiamunni
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July 11, 2018, 01:03:16 PM |
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Bitcoins are usually treated as an investment, that is people will buy them and sell them off when the prices rise. This investment has made the investors into millionaires and billionaires as well. That is why, people treat is more like an investment since this method is more profitable to them.
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gasparyu
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July 11, 2018, 01:09:47 PM |
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We should, but we can't, for now that is. Bitcoin was intended to be a currency, but with its current state, it being an investing is better. It proves to be a good source of income by now. People will always want to get profit. Probably in the future it will be utilized as a currency. Let's just wait for tht time to happen.
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zinson01
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July 11, 2018, 01:55:46 PM |
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The bitcoin is a virtual asset. Actually it can be used as investment also as currency for economic transactions.
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damrianto
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July 11, 2018, 02:35:41 PM |
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BTC it is as our place or location to get capital allowance from earnings from bitcoin, so media we use to reach bitcoin place that we have to use computer, laptop, and android. so you can find capital in bitcoin while relaxing at home with a cup of hot coffee ......
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cellard
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July 11, 2018, 03:02:56 PM |
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Do you think we should change our attitude towards bitcoin ? Don't you think we should use BTC as a medium instead of capital gain.
It's simple: As long as there are reasonable expectations of the price of Bitcoin going up, that is a disincentive to spend it/sell it, or get rid of it in any way, because you would be losing some serious moon tickets. The only way people would feel comfortable spending it is if the price flattened out, which can only happen if Bitcoin is above $1,000,000, so by then I guess the volatility will be low enough to start spending it. Forget about spending it for your groceries, unless someone comes up with some serious technology on a second layer way that allows for it. |
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imrul5 (OP)
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July 11, 2018, 04:25:23 PM |
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We should start considering Bitcoin as a currency rather than a long-term investment which will generate profit. To generate profit, Bitcoin will have to become popular thanks to being widely accepted and needed. Too many people focus only on the price and complain about it all the time. I'm fed up with it, I hope that people will change their attitude.
Thanks man, I am working on this issue for a long time. I talked with so many people about this issue. Most of them want to hold BTC instead of using it for daily life's transactions. |
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Wind_FURY
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July 12, 2018, 05:40:09 AM |
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Having Bitcoin as a Store of Value only, will only damper it's growth. Who said that it should only be "store of value only". It should be store of value first, and a medium of exchange second until there is a more efficient way of transacting in Bitcoin. You need to utilize it as it was intended by Satoshi as a alternative for the Cash system. Satoshi did not say that bitcoins should be hoarded for many years, he developed the whole protocol around a concept that it should be a payment system. But the system in its forrm today is very inefficient as a medium exchange. The best present use case for Bitcoin is a decentralized, censorship resistant, and a stateless, sovereign store of value to protect your wealth that can never be taken from you. Tell me if I am wrong and that I should store my wealth in fiat. Plus if Satoshi today tells the Core developers to hard fork to 32mb block sizes, is it in your opinion that Core should follow? I see no reason why it should not be used for both a medium of exchange and a store of value. There should just be a balance between the two use cases. ^smile^
I agree, but it is a store of value first. Do not lie, you are also hoarding as much Bitcoin as you can, correct? |
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Aleshia696
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July 12, 2018, 06:01:52 AM |
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Most of the people are using bitcoin not as a medium of exchange but rather to store value. They plan to buy it in low prices and sell off at higher prices to easily make profit. But bitcoin and other crypto currency can act same as fiat currency. if bitcoin is more widely accepted in exchange of good and services the usage of bitcoin as a currency will increase.
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AriannaSantosUU
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July 12, 2018, 06:21:34 AM |
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The damage is already done. I mean, it's not totally wrong, just that some people got the misconception that bitcoin is a good source of income if they invest it well. But there are some users out there do use it as a medium of payment and money transfer.
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banoi
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July 12, 2018, 06:31:27 AM |
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Bitcoin has already been given the status of a good source of income. People want to become rich at the earliest possible by investing here. I think presently most of the people are using it as an investment instead of using as currency for economic transactions.
Because it has been taken as investment that is why it's price moves in a wide range of up and down.
It makes a profit but it also creates a loss. It is two sides of a problem |
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thangthoa
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July 12, 2018, 06:37:06 AM |
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Can not change that mindset in the present moment
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Variogam
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July 12, 2018, 06:37:36 AM |
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For Bitcoin to work as medium of exchange for masses, lighting network applications need to be more developed (more user friendly). In few years it could become reality - THIS is the promise which makes Bitcoin as investment interesting today, but in few years when the Bitcoin userbase reach the size lets say of Facebook, no more interesting price increase become possible anymore.
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Ahimoth
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July 12, 2018, 06:55:11 AM |
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Do you think we should change our attitude towards bitcoin ? Don't you think we should use BTC as a medium instead of capital gain.
I agree with you, we can use BTC as a medium of transactions in every outlet that accept BTC as a means of payment in their store for the existence of BTC increasingly known and can lift the name BTC and the existence of the more famous BTC Why do we have to choose only one if we can do both of them. We can benefit from both factors so pushing to do them is a great idea. Gaining capital is already a benefit that we can get from bitcoin so increasing the help that we can get from it would be nice. Using it as a medium is just a additional function. |
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AliMan
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July 12, 2018, 06:57:24 AM |
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Do you think we should change our attitude towards bitcoin ? Don't you think we should use BTC as a medium instead of capital gain.
I agree with you, we can use BTC as a medium of transactions in every outlet that accept BTC as a means of payment in their store for the existence of BTC increasingly known and can lift the name BTC and the existence of the more famous BTC Why don't we just use both of them and have a win-win opportunities. Well we're already getting the benefit from bitcoin by using it as a capital source. Using it as a medium would be just another factor that we can get from bitcoin. We don't have to choose one if we have the chance to do them both. |
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Eigig
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July 12, 2018, 10:16:47 AM |
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I think that the purpose of this bitcoin can either be a medium and at same time capital gain, we will not put aside one purpose but we will maximize the purpose of the bitcoin, so that it not a wadte of oppurtunity ,other than utilizing thay bitcoin as one purpose,
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imrul5 (OP)
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July 12, 2018, 05:50:03 PM |
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The damage is already done. I mean, it's not totally wrong, just that some people got the misconception that bitcoin is a good source of income if they invest it well. But there are some users out there do use it as a medium of payment and money transfer.
I don't think that damage part done yet. However, if there is a huge fluctuation then people will be afraid of buying BTC. People won't be able use it for daily basis. |
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imrul5 (OP)
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July 12, 2018, 05:52:12 PM |
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Bitcoin has already been given the status of a good source of income. People want to become rich at the earliest possible by investing here. I think presently most of the people are using it as an investment instead of using as currency for economic transactions.
Because it has been taken as investment that is why it's price moves in a wide range of up and down.
It makes a profit but it also creates a loss. It is two sides of a problem Yes, it is like a delima. But it was supposed to be a currency, a medium of transaction. |
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imrul5 (OP)
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July 12, 2018, 05:57:08 PM |
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BTC it is as our place or location to get capital allowance from earnings from bitcoin, so media we use to reach bitcoin place that we have to use computer, laptop, and android. so you can find capital in bitcoin while relaxing at home with a cup of hot coffee ......
 we also can find capital loss while setting at our home with a cup of tea. Actually it is not good to interfere the natural beauty. BTC was meant to be a medium but we now ,use it as a investment tool. Because of this attitude we already started our capital on bitcoin. |
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