Bitcoin Forum
April 19, 2024, 11:25:01 PM *
News: Latest Bitcoin Core release: 26.0 [Torrent]
 
   Home   Help Search Login Register More  
Pages: « 1 [2]  All
  Print  
Author Topic: How Bitcoin becomes a real currency  (Read 345 times)
1NV3ST0NM3
Full Member
***
Offline Offline

Activity: 420
Merit: 110


View Profile
September 11, 2018, 05:04:26 PM
 #21

I also think that Bitcoin cannot become the mainstream currency in its current state. Bitcoin has so many unexploited flaws. The fact that it is decentralized makes it completely unsuitable to act as a prime currency. It has no minimum valuation guarantee. If a lot of whales decide to dump Bitcoin, the public would suffer immensely. We know that Bitcoin make the illegal transactions quite easy. So the crimes would increase if it started acting as the main currency.
1713569101
Hero Member
*
Offline Offline

Posts: 1713569101

View Profile Personal Message (Offline)

Ignore
1713569101
Reply with quote  #2

1713569101
Report to moderator
1713569101
Hero Member
*
Offline Offline

Posts: 1713569101

View Profile Personal Message (Offline)

Ignore
1713569101
Reply with quote  #2

1713569101
Report to moderator
1713569101
Hero Member
*
Offline Offline

Posts: 1713569101

View Profile Personal Message (Offline)

Ignore
1713569101
Reply with quote  #2

1713569101
Report to moderator
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.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
1713569101
Hero Member
*
Offline Offline

Posts: 1713569101

View Profile Personal Message (Offline)

Ignore
1713569101
Reply with quote  #2

1713569101
Report to moderator
1713569101
Hero Member
*
Offline Offline

Posts: 1713569101

View Profile Personal Message (Offline)

Ignore
1713569101
Reply with quote  #2

1713569101
Report to moderator
EllieBasti05
Jr. Member
*
Offline Offline

Activity: 95
Merit: 1


View Profile
September 17, 2018, 04:52:56 PM
 #22

Because many people uses it in everday living, you can trade, uses in online transactions. most of all it cannot be faked compared to fiat money.
HE[A]RTLESS
Newbie
*
Offline Offline

Activity: 42
Merit: 0


View Profile
September 17, 2018, 05:23:09 PM
 #23

BTC is going to digital gold

and other crypto fighting to be a currency
willramis
Newbie
*
Offline Offline

Activity: 47
Merit: 0


View Profile
September 17, 2018, 05:58:37 PM
 #24

One of the points in this article says, Bitcoin is deflater by its nature since day one, which is true. Therefore it can not depreciate, also because people not only use it as payment but also hold it to gain value over time.
However some people do the same thing with fiat money they hold and save it to spend it later, and it inflates due to many OTHER economic factors, not because people like to spend it.
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!