How does bitcoin become a currency?

[serjent05]

Generally they call it crypto-currency but it is also regarded as an asset. A store of value, commodity with value but since you defined currency as a mean of payment and that is why it is called currency, bitcoin qualifies for this title. Bitcoin is used as a mean of payment not in all but there are several stores/market and companies that accept bitcoin as a mean of payment. Recently I’ve just read a post that gave 15 of those.

[Shimmiry]

Bitcoin is already a currency, it does not need to become one. You can buy and sell things with bitcoin and that is what a currency is for. Although now I think people use bitcoin as more of an investment than as a currency but that does not mean that bitcoin has stopped being a currency.

I agree. The only thing is is missing is that the legitimacy of bitcoin. The government acceptance is what it needs in order for it to be used all over the world. It really matters but then bitcoin can work even without the government approval and it is very functional, effective and efficient.

[abhi777]

In the beginning, BTC could be used to exchange of low value of virtual items, such as buying web sites or game points, virtual items, etc., afterwards, some people in order to get these virtual items, items may be in online auction own reality for BTC, others want to buy the real goods, but no BTC at hand, and then use real money to exchange BTC, as a result, BTC begin to flow, and have a "value".


In other words, bitcoin is inherently valuable as a means of payment; If it loses its function as a means of payment, it becomes worthless.

The value of money: it exists because of payment.

It is indeed exist because it is used for transactions online like betting sites. Now it is also used as the basis for exchanging in different coins that emerged in the market. The value of Bitcoin exist through the continues patronage of people to it's usage.

I think the government must approve it, if the government does not agree with bitcoin and crypto then how can bitcoin become a world currency. and don't spread hoaxes that aren't right about bitcoin.

[patarfweefwee]

Well it depends. Although you can't buy a service or a product with crypto currency, it is still valuable in a sense that you can exchange it for Fiat that could be exchanged for goods and services. Therefore it would still hold value because it could stil be exchanged into something of worth. Then again, different people percieve worth.

[Shiversnow]

Bitcoin is already a currency, it does not need to become one. You can buy and sell things with bitcoin and that is what a currency is for. Although now I think people use bitcoin as more of an investment than as a currency but that does not mean that bitcoin has stopped being a currency.

Most of people commonly use bitcoin as investment which they know that it will give profit. But, we want to use bitcoin as currency it need to undergo in government which they will implemented it as currency. We all know some government allow bitcoin as currency but somehow we can't say that bitcoin will really become a legal currency.

[SeVenlast]

In the beginning, BTC could be used to exchange of low value of virtual items, such as buying web sites or game points, virtual items, etc., afterwards, some people in order to get these virtual items, items may be in online auction own reality for BTC, others want to buy the real goods, but no BTC at hand, and then use real money to exchange BTC, as a result, BTC begin to flow, and have a "value".


In other words, bitcoin is inherently valuable as a means of payment; If it loses its function as a means of payment, it becomes worthless.

The value of money: it exists because of payment.

It is indeed exist because it is used for transactions online like betting sites. Now it is also used as the basis for exchanging in different coins that emerged in the market. The value of Bitcoin exist through the continues patronage of people to it's usage.

I think the government must approve it, if the government does not agree with bitcoin and crypto then how can bitcoin become a world currency. and don't spread hoaxes that aren't right about bitcoin.

There are some countries that support big about Bitcoin and some countries really hate the existence of virtual money so it should be very far to illustrate if Bitcoin becomes a true currency.

[andriarto]

In the beginning, BTC could be used to exchange of low value of virtual items, such as buying web sites or game points, virtual items, etc., afterwards, some people in order to get these virtual items, items may be in online auction own reality for BTC, others want to buy the real goods, but no BTC at hand, and then use real money to exchange BTC, as a result, BTC begin to flow, and have a "value".


In other words, bitcoin is inherently valuable as a means of payment; If it loses its function as a means of payment, it becomes worthless.

The value of money: it exists because of payment.

It is indeed exist because it is used for transactions online like betting sites. Now it is also used as the basis for exchanging in different coins that emerged in the market. The value of Bitcoin exist through the continues patronage of people to it's usage.

I think the government must approve it, if the government does not agree with bitcoin and crypto then how can bitcoin become a world currency. and don't spread hoaxes that aren't right about bitcoin.

There are some countries that support big about Bitcoin and some countries really hate the existence of virtual money so it should be very far to illustrate if Bitcoin becomes a true currency.

lucky for those who legalize are developed countries, so many other countries depend on it. i hope that with more developed countries legalizing, hopes will come true

[sirminesalot]

In the beginning, BTC could be used to exchange of low value of virtual items, such as buying web sites or game points, virtual items, etc., afterwards, some people in order to get these virtual items, items may be in online auction own reality for BTC, others want to buy the real goods, but no BTC at hand, and then use real money to exchange BTC, as a result, BTC begin to flow, and have a "value".


In other words, bitcoin is inherently valuable as a means of payment; If it loses its function as a means of payment, it becomes worthless.

The value of money: it exists because of payment.

It is indeed exist because it is used for transactions online like betting sites. Now it is also used as the basis for exchanging in different coins that emerged in the market. The value of Bitcoin exist through the continues patronage of people to it's usage.

I think the government must approve it, if the government does not agree with bitcoin and crypto then how can bitcoin become a world currency. and don't spread hoaxes that aren't right about bitcoin.

There are some countries that support big about Bitcoin and some countries really hate the existence of virtual money so it should be very far to illustrate if Bitcoin becomes a true currency.

lucky for those who legalize are developed countries, so many other countries depend on it. i hope that with more developed countries legalizing, hopes will come true

but it's not that easy to legalize bitcoin and make it a country's currency for progress. Bitcoin is a digital currency and if it is used as a currency by a country I think it is impossible even though Bitcoin is illegal in many countries but we can still use it.

[Zadeket]

Well it depends. Although you can't buy a service or a product with crypto currency, it is still valuable in a sense that you can exchange it for Fiat that could be exchanged for goods and services. Therefore it would still hold value because it could stil be exchanged into something of worth. Then again, different people percieve worth.

Bitcoin is a transaction that occurs digitally on the internet, so it must be exchanged first in place to exchange bitcoin into fiat money, so that it can be used to buy any goods and services. This happens in a country that prohibits the use of bitcoin for payments. If it occurs in a country that legalizes bitcoin, transactions can occur directly from the transfer of the sender's wallet to the recipient's wallet.

[Panchum]

In the beginning, BTC could be used to exchange of low value of virtual items, such as buying web sites or game points, virtual items, etc., afterwards, some people in order to get these virtual items, items may be in online auction own reality for BTC, others want to buy the real goods, but no BTC at hand, and then use real money to exchange BTC, as a result, BTC begin to flow, and have a "value".


In other words, bitcoin is inherently valuable as a means of payment; If it loses its function as a means of payment, it becomes worthless.

The value of money: it exists because of payment.

Bitcoin become currency because bitcoin is now available for any transaction.Its a good currency especially when the price is increase.lt will give us more comfortable for any payments.

[hicaribou]

In the beginning, BTC could be used to exchange of low value of virtual items, such as buying web sites or game points, virtual items, etc., afterwards, some people in order to get these virtual items, items may be in online auction own reality for BTC, others want to buy the real goods, but no BTC at hand, and then use real money to exchange BTC, as a result, BTC begin to flow, and have a "value".


In other words, bitcoin is inherently valuable as a means of payment; If it loses its function as a means of payment, it becomes worthless.

The value of money: it exists because of payment.

Bitcoin become currency because bitcoin is now available for any transaction.Its a good currency especially when the price is increase.lt will give us more comfortable for any payments.

There are some place where bitcoin is accepted as a payment option but it does not reach wide enough yet.
I saw steam was accepting bitcoin before and i think it could be a very big opportunity for bitcoin but now its not accepted anymore. Does anyone know why? That is a very unfortunate thing.