CoinChili
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March 15, 2019, 04:09:12 PM |
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It's already happening, what are you talking about? Bitcoin in your radar might not be that much that's why adoption is lacking in a lot of ways. What country do you live in anyway, as you raise this type of question?
I wonder that, too. OP was a bit late with regards to his questions. It can be both an investment and already use it as a payment method nowadays. Are you on doubt about using both? Or maybe he is confused about that. Even though it is volatile , we are taking the risk and still use bitcoin as a payment.
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carter34
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March 15, 2019, 09:37:51 PM |
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Why I will think that bitcoin can be used for both investment and payment is that these roles are already in the domain of bitcoin. For investment, I don't think the volatility will stop and so it will always play the role as a tool to investment and to measure personal riches (personal because it is private, only who you disclose what coin and quantity you have will know) For payment, it optional fiat especially for very huge financial dealings.
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Innerpumper
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March 16, 2019, 04:07:07 AM |
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At some point in time I guess it will become either one thing or the other. It cannot stay both at the same time. Can it? Is it a healthy usage method to have it as both?
Yeah,you can use both bitcoin is very suitable to be used for transactions and used to trade cryptocurrency more, with prices that are not stable, you will also earn a profit from the highly volatile price bitcoin
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Argoo
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March 16, 2019, 07:51:03 AM |
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At some point in time I guess it will become either one thing or the other. It cannot stay both at the same time. Can it? Is it a healthy usage method to have it as both?
There is no other way out. Bitcoin will remain with high price volatility. To others he cannot yet be by nature. What it will be at the same time means of payment, time will tell. It is most likely that it will be used for expensive goods and services. If its functionality does not fundamentally change for the better, then it will be ineffective for small purchases.
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teejayrichard2
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March 17, 2019, 07:54:45 PM |
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At the moment, Bitcoin is a volatile investment tool and payment method at same time as so many people use it to pay for goods and services in different parts of the world while some others just wait for price to drop so they buy some quantity which the hodl and sell whenever price pumps up. But time will come when there is a full adoption as every country will fully use it for transactions making the price stable, then Bitcoin volatility will be reduced.
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Pattart
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March 23, 2019, 04:46:26 AM |
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It's already happening, what are you talking about? Bitcoin in your radar might not be that much that's why adoption is lacking in a lot of ways. What country do you live in anyway, as you raise this type of question?
I wonder that, too. OP was a bit late with regards to his questions. It can be both an investment and already use it as a payment method nowadays. Are you on doubt about using both? Or maybe he is confused about that. Even though it is volatile , we are taking the risk and still use bitcoin as a payment. I think we have provided proof and answers right? not all crypto users are investors, many users use crypto for their payment platforms. and many of us have done that paying bills, gambling and many others
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xvids
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March 23, 2019, 11:25:12 AM |
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I think it can be and here in the Philippines we could use Bitcoin as payment option for our Bills and other things. But we also consider crypto as an investment tool so we are the proof that it could be both at the same time.
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Kakmakr
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March 24, 2019, 06:22:48 AM |
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Bitcoin as with most other currencies, can be used as a currency and also as a investment option. Forex trading in currencies has long been done with other currencies, so I cannot see why Bitcoin can not play both those roles at once. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) Bitcoin will just be a better currency and a more favorable investment tool, because traders just love the volatility and the possibility for massive returns with Bitcoin as a trading investment. ![Cool](https://bitcointalk.org/Smileys/default/cool.gif) As time goes by and mainstream adoption takes place, Bitcoin will even become less volatile and a better currency. ![Tongue](https://bitcointalk.org/Smileys/default/tongue.gif)
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muncuss
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March 25, 2019, 07:59:22 AM |
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It can be both. Bitcoin created to be a currency and payment method but different amount of supply between bitcoin and fiat (particularly USD and its forever inflation) forced bitcoin to be an investment. Bitcoin price don't need to be stable to become payment method because it actually is. it just need two sides who agreed to transact using bitcoin.
we need to stop seeing bitcoin as a commodity. maybe your 0.1 bitcoin price is down and you think you lost some money but actually you still have your 0.1 bitcoin. it just because you still think your fiat as default money. (yeah i just realized it) In fact bitcoin "price" is just an exchange rate from one currency to another
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LeGaulois
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March 25, 2019, 11:36:04 AM |
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What about if the Bitcoin's value stays stable (let's say $5,000 with some ups/down of ~$150 which will still be volatile but wouldn't be considered a lot.) Similar to how gold is considered.
So I would think that yes Bitcoin can be an investment, a safe haven like gold is, maybe a reason why people call Bitcoin the digital gold. And it can slo be a payment method, again, like when gold was the only currency.
Fiat currencies are also volatile but that doesn't prevent anyone from using it.
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spadormie
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March 25, 2019, 11:48:11 AM |
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Of course, even though bitcoin is pretty much a volatile currency, it could be a great payment method for all of us. It's because whatever the price of bitcoin is, there is an accumulate conversion of it on our own fiat. For example, the current price of btc is 4000 usd and you need to buy a dish from a restaurant. The price of the dish is 20 usd. On 4000 usd of bitcoin, you should determine the value of 20 usd from 4000 usd bitcoin. It could be .005 btc.
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qwertyup23
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March 25, 2019, 03:40:13 PM |
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At some point in time I guess it will become either one thing or the other. It cannot stay both at the same time. Can it? Is it a healthy usage method to have it as both?
Bitcoin can be both but it is mostly used as an investment tool for both short/long-term investment plans. Some individuals (like me) use a portion of my bitcoins and convert them to cash to purchase services/products. Unfortunately, there are only limited things that you can purchase with bitcoins and mostly the transaction fees are high. This dilemma makes bitcoin as not the preferable option to use with in paying products or services. As time goes on, Bitcoin price will become well stabilized and then it will become a payment method only. For now, its both a volatile investment tool and payment method as it's still at its early stage and its potential continues to grow. People are aware Bitcoin will grow beyond it's current state that's why people continue to invest in it while also using it for payment but time comes when price becomes very stable and then it will be used for payment method only.
I doubt that its price would be stabilized since its decentralized nature depends its price from the law of demand and supply. From that instance, it will lose its nature and become a centralized unit, which is the antithesis of what bitcoin is all about.
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munareal
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March 25, 2019, 04:06:21 PM |
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Bitcoin is a very volatile investment which is used as a payment method. Bitcoin was created as a payment tool that is cheaper than conventional transactions of banks. Being the first cryptocurrency makes it more valuable as an investment than a payment tool as there are a lot of new coins that are better than it in terms of scalability, lower transaction fees, and speed.
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MakeMoneyBtc
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March 25, 2019, 09:43:17 PM |
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Being the first cryptocurrency makes it more valuable as an investment than a payment tool as there are a lot of new coins that are better than it in terms of scalability, lower transaction fees, and speed.
If you consider bitcoin could survive only by being used as an investment then I suggest thinking again about this. In order for it to be used as an investment it had to offer some kind of value to the world so that people have demand over it and the price increases. But how could bitcoin add any value to people if it is not used as a payment method?
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yesyes18
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March 25, 2019, 09:59:04 PM |
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At some point in time I guess it will become either one thing or the other. It cannot stay both at the same time. Can it? Is it a healthy usage method to have it as both?
Yeah, i also believe so because it'll be very difficult for Bitcoin to remain in both features. A worldwide accepted currency can't be highly volatile else it'll affect trades. Nevertheless i believe also that Bitcoin will gain some stability but it'll be at a higher price. If it would've died, it would already. Bitcoin gas tested many extreme forms of rejections by economists, governments, etc but it has shown enormous resilience. With that, i believe Bitcoin shall have a very impressive price in the future and at that time, we'll get te stability we need to make it appreciated by all as a currency.
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alina345
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March 26, 2019, 07:50:36 PM |
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Bitcoin is an excellent investment tool. In fact, it can be used as part of a diversified cryptoasset portfolio to help investors secure their finances for the long term. Many investors are already pouring their 401ks and IRAs into dependable assets such as precious metals, real estate and yes, Bitcoin. I would recommend checking out how a cryptocurrency ira works in order to educate yourself on the benefits of holding them as an investment vehicle.
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Chikitita2004
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March 26, 2019, 08:13:47 PM |
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volatility has been bitcoin's feature since the beginning and if it can be a payment method, haven't you heard? more and more stores and other markets are accepting bitcoin as payment? there are even retail stores here in my place that are accepting not just bitcoin but also other major cryptocurrencies. It is just a matter of choice for merchants, whether they will take risk and trust bitcoin in spite of its volatility or never at all.
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deisik
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March 27, 2019, 03:08:12 PM |
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Fiat currencies are also volatile but that doesn't prevent anyone from using it And do you know why everyone is using it? Because everyone is forced to use it, as simple as it gets. People and businesses alike have to pay taxes in the local legal tender, and unlike the former who pay these taxes maybe once a year the latter pay them constantly (read, they have to price their goods and services in the local currency). Further, the government pays government employees and requires payment for the services it itself provides in this currency as well. All in all, if we take into account all the channels through which the use of fiat is forced on the general public, there is no way you can avoid using it (till the advent of cryptocurrencies at least) As an aside, in cases of runaway inflation people as well as businesses do in fact stop using a heavily depreciating currency but that's an extreme case when a money token (say, the Zimbabwean dollar or Venezuelan bolivar) stops representing money as such and turns into useless and worthless trash ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fs45.radikal.ru%2Fi109%2F1612%2Ff8%2F64f848b33903.gif&t=665&c=uVcc1_lDgFBbGQ) Put simply, all paper will burn
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DreamStage
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March 27, 2019, 03:39:20 PM |
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You can still make it worth by saving some of your bitcoin as investment against price flutuation. When price goes up the price you bought take advantage and sell it again so you profit from sell - bought price. Therefore yeah surely can be volatile investment tool and payment method as the same time.
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Nothing to see here
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Netnox
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March 27, 2019, 03:52:27 PM |
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There are examples out there. Gold bars and coins can be used as an investment asset, and at the same time they have been used as currency (especially during the middle ages). If gold can be used in this way, then why can't Bitcoin or any other crypto?
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