Which Bitcoin Is Not?

[CryptoToxicAvenger]

For every person bitcoin can be anything. For some it is gold, and for some it is just a speculative tool. Each person determines for himself the purpose of bitcoin.

[1715478889]

1715478889

[Herbert2020]

Bitcoin is the cheapest way to transfer money

I will not agree with this quoted statement because some exchanges/wallets charge higher fees (bitcoin transfer) than other cryptos (ETH, XRP, etc.)

It is not the cheapest way to transfer because bitcoin transaction fee is expensive than other coins which make it faster to process. Everything can be characterized bitcoin and we benefitted into it. Almost everyone knows about it but few are curious that want to involve with it.

wrong, bitcoin transaction fees are 90% of the times very cheap at 1 satoshi per byte and compared to other altcoins this is amazing considering the amount of usage bitcoin has. it is obvious that a dead coin that nobody uses and has completely empty blocks will always have cheap fees but it is a deadcoin!!!

those exchanges are charging higher fees are doing it because they know that people have no choice but to withdraw bitcoin, they don't want any other altcoin they just want their bitcoins out. which is why they charge higher fees.

[Babyrica0226]

As Bitcoin is once again at the $8,000+ level, there is a raging excitement and a big buzz in the marketplace on the King of Crypto. People are asking if this can be the start of the big bull run -- the big one to push Bitcoin beyond the $20,000 zone almost achieved in 2017.

With all the hypes and speculations surrounding Bitcoin, here are some bitcoin FACTS and why bitcoin enthusiast like myself love it, trust it, and just could not wait of what can be...

1. Bitcoin is money
2. Bitcoin is an asset
3. Bitcoin is a commodity
4. Bitcoin is a utility
5. Bitcoin is more valuable than gold and USD.
6. Bitcoin is the cheapest way to transfer money
7. Bitcoin is on it's way to being the world currency
8. Bitcoin provides solutions for people worldwide without bank accounts, who can't get bank accounts, or don't have access to banks in their region.
9. Bitcoin can be traded.
10. Bitcoin has IRA's, Futures, Mutual Funds, Credit, Loans
11. Bitcoin has a limited supply of only 21 million giving it serious value whereas 17,674,400 has already been mined.
12. Bitcoin has to be mined, the source of all bitcoin, and will go on for the next 120 years to 2140.
13. Bitcoin is the FIRST and leader of all the 2116 cryptocurrencies on the market as of 4/30/19 dominating at 54.6% of the market cap of $172.6 billion!
14. Bitcoin is accepted worldwide at hundreds of thousands of retailers to pay for goods and services from coffee and pizza to paying taxes, luxury vacations, cars, homes, boats, and more!
15. Bitcoin is predicted to be worth $100,000 per coin within the next 3 years and $250,000 within the next 5 years.

Now, among this list, which do you think is not true or will not come true?

To think which is not the function of Bitcoin was this " Bitcoin is the cheapest way to transfer money "
It is because bitcoin actually here in my country every time I made a transaction it cost high deduction on my withdrawal amount.
I just don't know to other country if they have the same situation of mine.

[Ridwan Fauzi]

I don't think bitcoin will be the cheapest way to transfer money. The lightning network has came but I only feel a bit different when I try to transfer bitcoin without lightning network. Moreover, there are many speculation who says bitcoin will touch 1 million dollar which means if this happened then fee per transaction will high also so as bitcoin will never use as payment system again and even it is not deserve to be called as money.

[Vinalians]

15. Bitcoin is predicted to be worth $100,000 per coin within the next 3 years and $250,000 within the next 5 years.

I think this is very good news if it happens for real in the next few years. I am optimistic when it comes in the value of bitcoin but seeing this huge value is not so believable to me. I mean this value can achieve but I don't think it will be achieved in the next 3 years.
I agree in the other 14 bitcoins ability and what can it do in the future, we are now in the stage where people are starting to understand what is cryptocurrency.

[CARrency]

1. Bitcoin is money

I think we should be clear here that BTC is not money, it is a cryptocurrency, a decentralized cryptocurrency but other people say that it is since it has a value. People are using it as money but that doesn't mean that it is, it is used as one since it has a value. Something that has a value is not always money, it has value so we can use it to trade.

[emberbekas]

5. Bitcoin is more valuable than gold and USD.
7. Bitcoin is on it's way to being the world currency

I just don't agree with these two. We all know that both gold and USD play their own roles and values which we couldn't compare to Btc because they have their own characteristics and uniqueness as a currency.
Btc could possibly be the world currency but it still has to take a lot of challenges and it will also take time. Bitcoin has still a lot to prove.

Bitcoin can be used worldwide as a currency but to be the main currency used by people around the world will need time and effort. And I don't think that will happen soon. Bitcoin is more valuable than gold and usd? Bitcoin, gold, and usd have their respective uses and we should not make comparisons between them.