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Author Topic: Is Bitcoin Worth To Be Currency?  (Read 1188 times)
audaciousbeing
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July 25, 2018, 05:55:25 AM
 #21

Everything we have come to know was a result of the collective agreement that the people have about it. Before the advent of money as we know it today, people over the period of civilisation have used different items and commodities as money and they still do so today. In recent times we have engaged in series of services that we have collected goods, praise, promises in return that is the money that we have accepted and its mutual between two people.

In the case of bitcoin, yes its not perfect but so also the currency we have known which without human intervention through various policies for or against, won't be any different from bitcoin. The moment we agree that bitcoin is money and its acceptable between the parties engaging in that transaction, then I don't see any problem in that.

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July 25, 2018, 06:01:25 AM
 #22

According to the definition of what a currency is, as being "money or other items used to facilitate transactions" i think in this context that bitcoin satisfies its nature as a form of currency, because despite its volatility and lack of acceptance, it has been seen as a means of facilitating transactions.

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July 25, 2018, 10:18:02 AM
 #23

Definitely bitcoin worth to be Currency because this is Internet based digital currency and peoples wanna spend it in markets for daily need also its transaction fast and with less fee so any one can send money world wide and fast. In future bitcoin will replace others fiat currencies and will be use in worldwide and already many companies and merchants accepted bitcoin as a payment.
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July 25, 2018, 10:26:28 AM
 #24

Bitcoin for me cant be called as a currency anymore.
For me it now becomes a gem among cryptocurrency users due to the treatment it got.
It does have the capacity of being a currency but we treat it as not though.

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July 25, 2018, 02:44:04 PM
 #25

The instability of the value causes bitcoin not to be worth a currenncy for now.But i think there's a high probability that this can change as worlwide adoption of bitcoin is fast approaching. More and more counties are now legalizing bitcoin and more big companies are now accepting it as payment.
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July 26, 2018, 03:01:22 AM
 #26

In terms of adoption rate and market cap bitcoin is absolutely best. Bud do you think it has the best technology and infrastructure to support a digital currency? Bottom line is, a digital currency should have global, mainstream adoption and its utility function should be higher than any other crypto out there.
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July 26, 2018, 03:12:46 AM
 #27

Well the fact that merchandises and other establishments accepts now Bitcoin as mode of payments because they know it has a value and that classifies for it to be a currency since it has a value but it doesn't remove that it is still connected to fiat money which is dollar that determines its value. How many USD per Bitcoin.

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July 26, 2018, 03:46:00 AM
 #28

For me, Bitcoin is already a currency. It is a widely accepted currency, we're slowly trying to integrate on using this for daily transactions.
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July 26, 2018, 03:52:10 AM
 #29

For me, Bitcoin is already a currency. It is a widely accepted currency, we're slowly trying to integrate on using this for daily transactions.

I don't think so. Bitcoin is called a digital currency but that doesn't mean that it can be a real currency that is used in a daily transactions.

Don't get me wrong, Bitcoin can still be used in daily transactions what I am trying to say is that Bitcoin is just usually treated as an asset, or an investment by a lot of people. Instead of using it as a payment, they rather hold for it until the price of it pumps in a good price.

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July 26, 2018, 04:01:50 AM
 #30

In my opinion, bitcoin is the best worthy currency that I been seeing til now.
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July 26, 2018, 04:18:13 AM
 #31

Yet, bitcoin needs to be regulated and probably handed in order to become a normal currency, also the instability of it matters, so we cannot have the currency which I cannot turn into the same value of products and services every time.

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July 26, 2018, 04:36:09 AM
 #32

For me, Bitcoin is already a currency. It is a widely accepted currency, we're slowly trying to integrate on using this for daily transactions.

I don't think so. Bitcoin is called a digital currency but that doesn't mean that it can be a real currency that is used in a daily transactions.

Don't get me wrong, Bitcoin can still be used in daily transactions what I am trying to say is that Bitcoin is just usually treated as an asset, or an investment by a lot of people. Instead of using it as a payment, they rather hold for it until the price of it pumps in a good price.

Using bitcoin in daily transactions are won't to be worth because of the volatility of the price, if it's going to stable coin it will be worth and good to use for daily. Bitcoin are having a great potential to have more expensive value, it means bitcoin would be worth it as an investment.

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July 26, 2018, 04:58:20 AM
 #33

I believe that bitcoin well be used a good currency. The only requirement I see is that the volatility must be controlled by stable use of the coin. I see great potential to bitcoin due to its wide popularity and availability of exchanges intended for bitcoin.
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July 26, 2018, 05:29:06 AM
 #34

I agree that the volatility still thr biggest obstacle that prevent bitcoin to be used act as currency, when a lot of of people think bitcoin as an asset to make profit then we will have difficulty to make the price stable, if we xan make bitcoin more stable then it will be really good to be used as currency as it's easier to do transaction globally, and when bitcoin is adopted the payment will be in btc not in the form of fiat anymore

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July 26, 2018, 05:47:09 AM
 #35

I think 'worth' is not the correct term but rather 'viable.' There are many other things that was considered a currency due to their value depending on the society. Back then, salt was used as a major form of currency, but looking at it now, is salt really 'worth' something to the people? Bitcoin is, mainly because of speculation but the rest, because of people wanting to send and receive money through it. However in today's society, there's not enough merchants for bitcoin to go around, just like your regular fiat currency. Volatility IMO is what scares people into accepting it, though we have payment processors for that, still we cannot say that bitcoin is effective because we used these intermediaries.

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July 26, 2018, 12:41:12 PM
 #36

i can say bitcoin can also consider and worth as currency because of its volatility just like our local or paper currency,bitcoins also faces ups and downs to its value which i think makes the market or the industry rather more stable.Bitcoins may has its lower value but same as the local currency,it may rise its value for a specific span of time.Traders and miners may also considers this factors on when is to invest or not.And bitcoin nowadays are starting to known globally.

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July 26, 2018, 01:44:18 PM
 #37

With the situation now, the unstable value of bitcoin, i think it is not worth to be a currency yet. It needs stability to be a legit currency. That's just my opinion though.
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July 26, 2018, 01:48:08 PM
 #38

i can say bitcoin can also consider and worth as currency because of its volatility just like our local or paper currency,bitcoins also faces ups and downs to its value which i think makes the market or the industry rather more stable.Bitcoins may has its lower value but same as the local currency,it may rise its value for a specific span of time.Traders and miners may also considers this factors on when is to invest or not.And bitcoin nowadays are starting to known globally.
Well, I think bitcoin deserves to be a currency. it's just the advantages of bitcoin often in use in comparison with the function. well, you know, that currently the world of investing in the internet, mostly focusing on there bitcoin, and other cryptocurrency.

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July 26, 2018, 01:53:08 PM
 #39

As far as I think this is a fast-paced, global technology solution. This is the market for investment. To say it is money then I do not agree.
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July 26, 2018, 01:58:22 PM
 #40

For me it can be a currency because of the fact that it has a value and its value is so high that it is important to the people of crypto enthusiast and everybody wants to have it, buy and sell it and even trade it to gain profit.
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