Is Bitcoin technology and as a currency different?

[Harris Stevens]

What i have seen all throughout the forums is that people focus upon the price of bitcoin BTC and the hodl process,focusing primarily on the price aspect and not the technological one can anyone assist me in identifying the co-relation with them.

[dothebeats]

They have always been intertwined. People are investing in bitcoin due to a number of reasons, one of them being the technology behind this creation. Due to bitcoin's security and uniqueness, it has gained value over time and that is what started the speculative aspect of the said coin. Moreover, without the tech, I don't think anyone would ever want to invest in bitcoin since security would be lacking, thus unable to help investors gain confidence over the coin.

[leonair]

Bitcoin is a technology and a curremcy at the same time, you can even consider it as an investment plan(more of an equity). I understand that it's too volatile to be use as a currency but still it serve its purpose in a way and we can't do anything about it as of now.

[pakhitheboss]

Without Blockchain the value of Bitcoin will be zero and without Bitcoin, Blockchain would not have been known so widely. They both are interdependent. When we talk about the price of Bitcoin and its fundamentals, we are basically referring to the technology behind it as people are investing in the technology that is running it. That's what I have understood.

[Pursuer]

it is not just that people focus on the price, it is because price is a part of bitcoin and since it is quite volatile you always see a lot of people talking about it and try to analyze these changes.

as for the relationship between the price and the technology, I have to say the technology is the only reason why the price continues going up because bitcoin is one of a kind without any similar counterpart and the utilities it offers because of its technology are useful and as a result it continues getting adopted more and more, and with increase of adoption (demand) the price rises.

[Bitinity]

What i have seen all throughout the forums is that people focus upon the price of bitcoin BTC and the hodl process,focusing primarily on the price aspect and not the technological one can anyone assist me in identifying the co-relation with them.

I believe it is because it is what we can do currently. We cant use the technology of bitcoin (blockchain) in real life regularly, that's why most people are focusing on its price as investment tool than the technology behind bitcoin.

[Haunebu]

You are probably getting confused with the Bitcoin tech like Blockchain, LN etc and the currency itself.

Technology : The backbone of Bitcoin which makes it a unique currency when compared to other traditional currencies like FIAT, gold etc.
Currency : Technology helps power Bitcoin which functions just like traditional currencies with added security etc.

[dentolas]

Let's face it, nice words don't cover it, all around people are discussing BTC prices to exaustion and drawing lines like Picasso because most people participating in crypto-currencies is only after one thing: CASH
There is no turning away from this fact.
We are all speculators, buying or mining in the hope to sell it for a higher price.
Of course there are some that are interested in the technology, check the projects with a different view, and in these cases, we can say that tech and value walk hand-to-hand.... but most people don't even look at that side, they are just after the quick cash... that's why there are so many scams, it is easy to feed people what they want...

[Kakmakr]

Bitcoin is just like any other currency, just a little better.    People use currencies to pay for services and goods, but some Forex traders trade with currencies on the stock exchange. This is where Bitcoin is the same, because people can use bitcoins to pay for goods and services, but they can also trade bitcoins for other Alt coins or just buy bitcoins and wait for the price to increase to sell it.

The problem came in when the Bitcoin price suddenly increased in 2017 to $18 000 from $1000.... this sparked a hoarding habit with a new generation of speculators that flooded into Bitcoin to buy low and sell high. 

[CryptoBry]

People are into Bitcoin for many reasons and I think all of them can be valid and even if one is into this for the sake of its price in other words its speculative value then he is still contributing something for what Bitcoin has become now. The bull run that happened in the last days of 2017 was largely contributed by speculators and that was when Bitcoin got noticed by the whole world. Of course, it would be better if one is into Bitcoin for the reason that he has a good understanding of the technology and how this technology can be changing the world of finance. However, we know that as humans we are into something because we can something out of it -- heck even charity is done for reasons that we wish to be happy that is why we share. Bitcoin is business so it is just natural if people can be looking for something they can gain. 

[BlackPanda]

What i have seen all throughout the forums is that people focus upon the price of bitcoin BTC and the hodl process,focusing primarily on the price aspect and not the technological one can anyone assist me in identifying the co-relation with them.

This is a beginning, basically that Bitcoin is indeed a currency, but its application that bitcoin is now much more used as an investment. Bitcoin investment is very profitable because it has very high fluctuations. So start with investment because in its implementation in the future we can make Bitcoin a currency that can be applied to all financial systems in the world. Even if Bitcoin technology is used properly, it can be used in various sectors.

[boyptc]

You can't stop people that looks only to the price of bitcoin as if its the indicator on how it is valuable.

Blockchain is the technology and bitcoin itself is the currency, they have relation to each other and like the other tech experts says, blockchain adoption would lead to bitcoin adoption.

[kryptqnick]

it is not just that people focus on the price, it is because price is a part of bitcoin and since it is quite volatile you always see a lot of people talking about it and try to analyze these changes.

as for the relationship between the price and the technology, I have to say the technology is the only reason why the price continues going up because bitcoin is one of a kind without any similar counterpart and the utilities it offers because of its technology are useful and as a result it continues getting adopted more and more, and with increase of adoption (demand) the price rises.

If the price is only driven by technology, why are there tons of what we call shitcoins that have pretty much the same tech or might even surpass the capacity of Bitcoin in some matters, and yet they are worthless?
It is partially about technology, for sure, but I bet tyre are many people who don't care about it at all and simply invest because of expecting profit. These people cause the price to go up as well, don't they?
And there are also people who prefer technology over bitcoin, so they utilize Blockchain as much as possible, while despising real cryptocurrencies as such.

[goaldigger]

What i have seen all throughout the forums is that people focus upon the price of bitcoin BTC and the hodl process,focusing primarily on the price aspect and not the technological one can anyone assist me in identifying the co-relation with them.

Bitcoin as a currency is a product of technology. Dont be confused with that. Here is why cryptocurrency is different on other currencies existing. Its not just an advanced paperless currency but also the one with very volatile value which is perfect for trading. People re easily get lured into it bacause its new and it has many opportunities to offer.

[vv181]

As of now the correlation between the markets and the technologies are unbreakable, comparing in term of the notable. Both price nor technologies are tremendously useful yet breathtaking. The prices are highly volatile but if we look to a bigger picture the percentage of price increase is enormous since the beginning of the creation of Bitcoin yet also the technologies are improved the financial and economic system in the world(Blockchain). It is indeed a piece of brand news 'untested' technologies but it keeps on improving, and many people have become aware of the usefulness.

What about the correlation in the future? Well, I'm sure when people already well-understood the technologies and boringly know the market action, it will slowly fade away, but will not completely cease to exist since somehow both are vital parts in Cryptocurrencies especially Bitcoin.

[kawetsriyanto]

I don't think so, not all of the people only think about investing, trading, holding, and getting profits of the Bitcoin. Well, probably the aim is for those things. However, we all know that Bitcoin is one of the advanced technology from blockchain that really surprised the world.
We cannot separate BTC as the technology and digital currency, they are in relation.

[Duzter]

Bitcoin is something a multiple access asset which has got multiple usage. Bitcoin getting used as a currency is one among that, and people using it in different way has happened for several reasons. The major reason for the same seems to be the technology behind it. Further is the usage and the need for an evolution in the financial ecosystem.

[BitcoinPanther]

What i have seen all throughout the forums is that people focus upon the price of bitcoin BTC and the hodl process,focusing primarily on the price aspect and not the technological one can anyone assist me in identifying the co-relation with them.

You cannot blame them,  many of these people are investors of Bitcoin.  Others works for Bitcoin  and many are traders of Bitcoin.  Only a minority are here because they love Bitcoin technology. 


As stated, they are intertwined.  Bitcoin is created as medium of payment and/or a currency.  The reason why its mining pattern is such as gold.  Bitcoin is also a technology because it is a program.  They are packed into one but of course both industry are in two separate category.

[Thirdspace]

What i have seen all throughout the forums is that people focus upon the price of bitcoin BTC and the hodl process,focusing primarily on the price aspect and not the technological one can anyone assist me in identifying the co-relation with them.

I prefer to say bitcoin as a currency based on blockchain technology
co-relation between them... bitcoin is known as the first application built on blockchain technology
since it's the pioneer, bitcoin as a currency is considered the benchmark in cryptocurrency world
and the value of bitcoin rises as more people use and develop it furthermore (bitcoin protocol and its applications)

[sheenshane]

As stated, they are intertwined.  Bitcoin is created as medium of payment and/or a currency.  The reason why its mining pattern is such as gold.  Bitcoin is also a technology because it is a program.  They are packed into one but of course both industry are in two separate category.

Technically speaking, Bitcoin is a type of currency that is considered as a digital asset. That only means that you will not be able to compare bitcoin to currency as the Bitcoin is also a type of currency. Bitcoin is a cryptocurrency and just wanna share this niche but cryptocurrency means, crypto = digital and currency = currency.

If you are pertaining to the bitcoin's technology, you might be referring to the blockchain, not bitcoin. Blockchain is the technology behind the possibility of bitcoin as a cryptocurrency.