What has changed? Is it moving forward?

[cryptomous]

Hi All,

I have been in cryptocurrency since 2014 but last 3 years I took a break from it. I had high hopes how it can change the financial world.

I would like to get back into it but first I would like to find out what is cryptocurrency today.

Is it just a trading commodity, long term investment or is it (very very very) slowly replacing fiat. I know there are many companies and small shops that accept cryptocurrency but is that it? Is the problem still about the speed of a transaction

Please help me catch up a little

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[dothebeats]

It has become an investment vehicle more than a tool that is replacing fiat. Almost all regulations covering cryptocurrencies are also related on it being an asset/investment rather than a transactional currency, so not much has changed. Price wise, it has changed drastically, though I think it's an improper metric to gauge whether bitcoin has become successful or not.

Overall, I'd say bitcoin changed for the better, at least when comparing it to 1014 market conditions.

[BrewMaster]

we are having a very similar situation to 2014 but at a higher price this time since the adoption has grown in the past couple of years. the situation is after a bubble burst and the drastic downtrend that it has caused.

as for investment versus currency, i think that part is still the same too. both aspects of bitcoin have grown side by side. meaning there are a lot of people who see bitcoin as an investment which can only make them money while a lot of other  see bitcoin as a unique decentralized currency which is offering them a lot more than just profit.
so pretty much the same, only now there are more people in each group.

[HODL2090]

Is it just a trading commodity, long term investment or is it (very very very) slowly replacing fiat. I know there are many companies and small shops that accept cryptocurrency but is that it? Is the problem still about the speed of a transaction

It has not changed much in over the four years you were away. The adoption has increased and also attention from government and external industries.
Bitcoin is not slowly replacing fiat, I do not think it is meant to replace fiat currencies.
It is an alternative currency

[geminiboy]

Hi All,

I have been in cryptocurrency since 2014 but last 3 years I took a break from it. I had high hopes how it can change the financial world.

I would like to get back into it but first I would like to find out what is cryptocurrency today.

Is it just a trading commodity, long term investment or is it (very very very) slowly replacing fiat. I know there are many companies and small shops that accept cryptocurrency but is that it? Is the problem still about the speed of a transaction

Please help me catch up a little

the cryptocurrency situation is now feasible for you to log back in, if you have left a few years ago then now when you start from the beginning, you will be luckier than the people who have been in crypto, and bitcoin will not replace fiat it's important to get more fiat

[tomahawk9]

The general public and the majority of crypto users are looking at bitcoin as an invesment or as a store of value instead of a form of payment to purchase stuff, and it's pretty normal that they see it that way since the thought of holding your coins to expect highers profits in the future outweighs the need of having to spend your coins in just a handful of stores. This line of thought will probably change once bitcoins reaches a mainstream status worldwide.

or is it (very very very) slowly replacing fiat.

It's not replacing fiat, not even close.

[TIDOVEE]

The major problem with crypto currency now is the bear market, which is part of its specifics.
Many crypto users are really lamenting now because it has affected market value so much that selling most coin now is almost a waste. And I think we just have to be patient. There is light at the end of the turned.l

[Xardasim]

In my opinion unlike 2014, today crypto's voice has reached more people. Today in some countries it is possible to use Bitcoin as current money to shop or paying bills. In fact adoption was not going to happen suddenly. As time goes by, people will able to digest it.

[mersal]

Hi All,

I have been in cryptocurrency since 2014 but last 3 years I took a break from it. I had high hopes how it can change the financial world.

I would like to get back into it but first I would like to find out what is cryptocurrency today.

Is it just a trading commodity, long term investment or is it (very very very) slowly replacing fiat. I know there are many companies and small shops that accept cryptocurrency but is that it? Is the problem still about the speed of a transaction

Please help me catch up a little

 A lot of changes are to be happened that we are expected but the value drop will not be expected by the people still the weekend in the pic but anything will be happened in the Bitcoin is always be acceptable but it has the ability to overcome again to the peak value but we cannot say how it happens

[Andam76]

in general, people invest in bitcoin for the long term ... but in some developed countries they also use bitcoin as a transaction tool ...

[trashman43]

Cryptocurrency trading and investment is way different from stock trading. With cryptocurrency, you need to understand the pattern and the trends associated the market price. I advise that you get some knowledge about the progress of cryptocurrency now before you start anytime. The crypto ecosystem has changed since 2009 when bitcoin was introduced to this world we live in.

[celot]

Maybe if you keep focus you have been billionaire and take much profit at bitcoin, imagine you have know bitcoin at 2014 where bitcoin price still lower and under $200, maybe you can take much profit right now if you are joining invest at bitcoin.

[natagor]

There are some minor signs of utilizing crypto as a payment way, but mostly cryptocurrency is a type of investment these days.
This tendency and perception will change with the time as the money world is actively migrating from a traditional to a digital form.

[Gagal Mancung]

Is it just a trading commodity, long term investment

Bitcoin can be said to be a long term investment - But, no one can guarantee, Is that will give profit or vice versa. Because, no company control it. But if see from year to year, with increase demand the market, it can be made into consideration.

[pooya87]

is it (very very very) slowly replacing fiat. I know there are many companies and small shops that accept cryptocurrency but is that it?

why do you think bitcoin has ever been replacing fiat in first place?

bitcoin was not meant to "replace" anything, specially not fiat and as far as i can tell Satoshi didn't create  bitcoin to "replace" anything either. bitcoin exists as the alternative digital cash system that offers a great  deal of freedom because of its decentralization. and the fact that more shops are now accepting bitcoin, or even a couple of countries that have adopted bitcoin as a legal way of payment aka a currency doesn't mean bitcoin is replacing fiat.

[Kakmakr]

Nothing has changed since you left the scene. People are still using it for both an investment tool and a currency and the debate is still going on about the "real" use case for this technology. 

The Bitcoin price went up to $18 000+ in 2017 and then it dropped by more than 70% to what it is now. <+/- $3500> So, if you bought bitcoins 3 years ago and you kept it, then you would have made some nice profits now. 

What price did you pay for bitcoins back then?

[magneto]

Hi All,

I have been in cryptocurrency since 2014 but last 3 years I took a break from it. I had high hopes how it can change the financial world.

I would like to get back into it but first I would like to find out what is cryptocurrency today.

Is it just a trading commodity, long term investment or is it (very very very) slowly replacing fiat. I know there are many companies and small shops that accept cryptocurrency but is that it? Is the problem still about the speed of a transaction

Please help me catch up a little

I wouldn't say that anything about the bitcoin network or infrastructure itself has changed.

What has changed over the past few years has really been the services that are being offered around bitcoin, the regulations that are surrounding bitcoin in certain countries, as well as bitcoin's role within the economy.

I'd say that right now, bitcoin is still highly speculative. Use of bitcoin as a currency, especially for virtual items, have definitely increased over the past years, but not to the point where it's the major use. Increasingly, bitcoin is seen as a store of value as well as a means to settle large transactions globally.

That pretty much sums up the developments over the past few years. Adoption has been growing at a rapid pace, which is the most important in my opinion.

[leech.]

In short:
By the end of 2017 there was a sharp increase. Bitcoin price was about 20K.
Then the whole of 2018 and up to this point, the price gradually decreases. Now about 3.5K.
Constantly there are discussions about what will happen next. People are divided into two types:
1) people who do not believe that bitcoin will grow and think that you need to withdraw your money.
2) people who believe that bitcoin will increase in price many times, who believe that now is the time to invest in bitcoin.

I will say from myself. I admit the possibility of both outcomes. Therefore, I do not put all the money on Bitcoin. However, I inject bit of my savings into Bitcoin now at this price. I think this is logical. And if bitcoin drops even lower, I won’t lose much on that.

[Dudeperfect]

To be honest, cryptocurrency is limited to speculation market on a higher scale and that is not the core essence of it at all. Yes, there are some merchants accepting cryptocurrencies as a form of payment but I am expecting higher growth of crypto adoption in our day to day activities. On the other hand, Crypto is also struggling on legal aspects where we don't have recognition in the eyes of law in many countries across the world which is a barrier to the growth of this innovation. However, there are some promising efforts are being taken to increase the utility value of cryptocurrencies and I do see the optimistic picture of the market for the coming years.

[gabmen]

Well definitely it's not on it's way to replace fiat at this point. One thing you've missed if you've been away for that long is the 2017 run that probably did more harm than good for many people. Also because of that, bitcoin has gained faniliarity among the masses though it doesn't seem to be on a positive note.