Bitcoin is here to stay

[Sanugarid]

But here is my problem: I don’t understand how money is supposed to be created.

Knowing you have this problem, you should not have such strong opinions. Because, you know, you may have missed or misunderstood something.
So, no offense, but your point is completely invalid.

Creating this long opinionated article yet he does not understand the very basic of bitcoin. But he hit some points like bitcoin now is taken as an investment and not a currency, a speculative asset and there is so much to talk about bitcoin than gold, who knows a gold discussion forum?

Next time you want to share something, conclusion or opinion, make sure that you have a strong stand to the ground as people here especially the old ones are wary of like everything.

[rodskee]

Although bitcoin is a speculative play, I also think its rise tells us something very much larger about how our financial systems work—even if we haven’t come to terms with those larger forces.

This what makes bitcoin more unique among other investments, it have its own system as a decentralized platform that is able to create transactions even there are some issues of problems that may come along we were able to access it everywhere and anytime without waiting for institutions or markets to operate.  Many have their own idea about bitcoin but it will only depends on how we see and use it works.

Many have their own ideas indeed, and I agree it's the end users perspective matters, from how we do understand and how we used it.
Both investment and currency works and since it's decentralized we can deal on it without any interfere not unless the government of such countries tag this crypto assets as illegal, but by now we are enjoying as there are many countries nowadays are already open with this new currency, we can
used and enjoy bitcoin to many part of the world.

[Shasha80]

Bitcoin can be a currency or investment asset, depending on the users who use it. But the fact is that many people today
which uses Bitcoin as an investment asset rather than a currency. Maybe because some countries whose governments have
not accepted Bitcoin and also the volatile price of Bitcoin make it difficult for Bitcoin to function properly as a currency. Though
the main goal Satoshi Nakamoto created Bitcoin as a currency.

[budi691]

When I first got to know bitcoin, I thought it was a digital currency that could be used anywhere as long as there was a network available,
I can buy between countries using Bitcoin without having to exchange banknotes,
at first maybe i thought like that,
but the fact is that now many people use Bitcoin for investment not as a medium of exchange,
And it doesn't matter because bitcoin has created a great community right now.

[shoreno]

When I first got to know bitcoin, I thought it was a digital currency that could be used anywhere as long as there was a network available,

the fact is that now many people use Bitcoin for investment not as a medium of exchange,
And it doesn't matter because bitcoin has created a great community right now.

same here but who wouldnt ? when the price before was only small and btc is also stable  people dont have an idea that it can also work perfectly as an investment but they already know it verry late when the value starts to climb . so what if most people use btc as an investment tool ? would you also follow them ? no but just continue using your btc as a currency because thats the reason why you are here or why you have a btc .

[k@suy]

When I first got to know bitcoin, I thought it was a digital currency that could be used anywhere as long as there was a network available,
I can buy between countries using Bitcoin without having to exchange banknotes,
at first maybe i thought like that,
but the fact is that now many people use Bitcoin for investment not as a medium of exchange,
And it doesn't matter because bitcoin has created a great community right now.

Although bitcoin is now part of everyday lives of other people in selected countries, admit it or not we still don't know yet if how long does the bitcoin can exist because the population of the non bitcoin users are still greater than those users and if the bitcoin will not be adapted by other countries 2-5 years from now it will be forgotten and all of our hardworks will be in vain.

[FlightyPouch]

When I first got to know bitcoin, I thought it was a digital currency that could be used anywhere as long as there was a network available,

the fact is that now many people use Bitcoin for investment not as a medium of exchange,
And it doesn't matter because bitcoin has created a great community right now.

same here but who wouldnt ? when the price before was only small and btc is also stable  people dont have an idea that it can also work perfectly as an investment but they already know it verry late when the value starts to climb . so what if most people use btc as an investment tool ? would you also follow them ? no but just continue using your btc as a currency because thats the reason why you are here or why you have a btc .

Well, most of the people at its early days don't look at it as an investment, they are findings way for people to use it and have an adoption that would make it as a method to pay or used in transactions. It is just when the price explodes, saw the potential of it and invested late on it. As people witness it at its peak, they would get on it hoping they would be taking profit from that volatile movements that is the reason bitcoin will stay for long.

[jekainvestor]

This is a mistake.

For bitcoin is not a currency; it is not money—it is a speculative hedge, an investment, a form of trading, and, quite possibly, the great white whale of finance.

Possibly—but only possibly.

The temptation to talk about bitcoin as the sole product of its inventor’s brilliance has grown during the crypto bubble because, as we know from the history of equity markets and from history as a whole, perception is all. And with a product as new as bitcoin, the halo effect is just enormous.

People talk about bitcoin because they can. After all, even if it has a host of technical limitations and flaws, it is not as boring as the existing consumer-facing products from the payment sector. And bitcoin is not as easy to move money as, say, the ability to convert cash to gold or fiat currency (the dollar, yen, pound, euro). But it’s a hedge, or an investment, or a speculative play, or a currency trading instrument, and those are all ways of getting one to your place of business, or to the point of travel, or to a lender. And, hence, it’s all there in one place, in crypto.

And, especially as I indicated here, it is far easier to talk about bitcoin than to talk about gold, and perhaps even to get people to look at fiat currencies. In that sense, bitcoin is both a new form of money and a solution to the demand for money among an otherwise invisible set of people.

Although bitcoin is a speculative play, I also think its rise tells us something very much larger about how our financial systems work—even if we haven’t come to terms with those larger forces.

Bitcoin is hardly the first effort to create some sort of secure virtual currency that was supposed to replace the US dollar, or a basket of other currencies, or whatever. But here is my problem: I don’t understand how money is supposed to be created. The same people who worry about the lack of transparency in many virtual currencies are of the same people who do not fully understand how accounting works, yet they throw around nearly impossible-to-review theories as if they were all knowable as gospel.

https://www.truepnl.com/

First of all  - BTC is not so simple as you see it at first glance. In my opinion your understanding of Bitcoin is a little superficial. In case to consider it like the asset only, so you may be right. But BTC is not an asset) But it is my thinking. And something tells me that this link as something like the hidden advertising. So how is it connected with your topic about Bitcoin? Can you explain?

[verita1]

I once asked a Chinese merchant in my country if she knew about Bitcoin and she said no, that she did not know any millionaires yet. I smiled and told her that anyone can buy Bitcoin doesn't need to be a millionaire.

There are people who need to know about Bitcoin and the key is in us to bring them the best information so that they do not miss the opportunity to belong to our community of bitcoiners and that they can get the best out of it.

[maxreish]

Certainly, bitcoin is a "cryptocurrency" and a secondary monetary payment system. So it can be also considered as "digital money".

Some are making it as a literal kind of unnecessary currency not thinking that it was originally made for blockchin technology purposes with of course other important features like digital payments, etc. And yeah, there is a flaws but time will come that bitcoin will be perfectly use base on it's purpose.

[Assface16678]

There are a lot of people didn't appreciate and know the use of the bitcoin because some of them are afraid about the things could happen to their money first let's take a look at the bitcoin.

Bitcoin is one of the most popular known in terms of digital currency because this is the main objective of it but the problem is the movies and the scammers.

Movies they reflect the use of the bitcoin with the use as a payment on the black market which is true too but not all the time we are using bitcoin on the bad things

Scammers are using the name of the bitcoin to encourage a lot of investors and after a few weeks, the scam those clients.

I think soon they will adopt the use of the bitcoin because due to this pandemic cashless payment is one of the most recommended.

[maydna]

I once asked a Chinese merchant in my country if she knew about Bitcoin and she said no, that she did not know any millionaires yet. I smiled and told her that anyone can buy Bitcoin doesn't need to be a millionaire.

There are people who need to know about Bitcoin and the key is in us to bring them the best information so that they do not miss the opportunity to belong to our community of bitcoiners and that they can get the best out of it.

If you ask more people out there, you will found out the same answer that you already asked for the Chinese merchant in your country because people are too busy with their business, and they don't search the new trend on the internet. Cryptocurrency is not yet spread to all countries, and that makes people out there still don't know about crypto.

But whether those people realize or not, bitcoin will be staying with us, and no matter how many people will use it, bitcoin will grow more in the future, and we already saw that happens.

Some people used bitcoin as an investment instrument, and they hope that they will have wealth from bitcoin in the future.

[YOSHIE]

This is a mistake.

For bitcoin is not a currency; it is not money—

Bitcoin is currently quite good and able to survive in the current crypto market, where many markets that trade real currencies are closed.

If, you understand correctly about Bitcoin and you are a crypto trader you should know the basic characteristics that can distinguish Bitcoin from other finance.

Bitcoin is currently quite good, accepted among the world community as a digital currency traded on the crypto market, not the other way around.

[erikoy]

in some form of the other, yes. Even if it's value goes to 0 there'll also be a recorded history of it on the blockchain, so technically it's built to last forever. The bet however is that it's here to stay AND has value down the line, which I'm sure it will have even 20 years from now.

I am not technically inclined with blockchain and bitcoin to how the transfer works, records and how miners confirm transactions but one thing that I am certain is that btc will not going to end technically because the dev can possibly make an upgrade to the system. Bitcoin may going to end but probably because of regulations and other things that bitcoin has been drag into crimes. For now, it would be hard for the authority to shut down bitcoin system.because it has already establish and community wanted it to which authority could listen to the consumers.

[lepbagong]

This is a mistake.

For bitcoin is not a currency; it is not money—it is a speculative hedge, an investment, a form of trading, and, quite possibly, the great white whale of finance.

Then should we change it to crypto speculative hedge instead of calling it crypto currency?
It is really sad to say but most of the newbies really see it as an investment tool not as a currency as it is created for that purpose.

there is no problem what the best word for the most important mention is that bitcoin is still a very lucrative investment and can make people feel happy because they have very valuable bitcoins, apart from not having, for a while of course you will only listen to how those who have bitcoin feel happy.

[Warkop]

I only see bitcoin as a digital currency which has been said by the creator of bitcoin, namely Satoshi Nakamoto, so whatever the complete description, you all will not care about it, because in my opinion bitcoin is not just for investment, bitcoin can be used according to your own wishes and needs depending on how you will do it.

[Latviand]

The first step to bitcoin adoption is to accept that it's a currency. After all, it's competing against fiat money, which is also a currency (in terms of the goal to decentralize the financial system). Imagine inventing the time machine, but after introducing it to the public, it was accepted and used as a teleportation machine instead. That time machine will never serve its purpose. 

A lot of people do still think that bitcoin is not a currency due to its volatility in the market.

But when you connect it in to the use of fiat in terms of the market, bitcoin can somehow have a huge difference to it.

If you are knowledgeable about bitcoin's capability of making someone become successful and you are not affected by other people on how you use it in the market. Therefore, you are in the right path and you are treating bitcoin and using it in the proper way. You are trusting it and you are treating it just a normal currency that you make as an asset for your investment.

[LogitechMouse]

This is a mistake.

For bitcoin is not a currency; it is not money—it is a speculative hedge, an investment, a form of trading, and, quite possibly, the great white whale of finance.

Bitcoin can be used as whatever the investor wants it to use.
Bitcoin for others can be a currency (unfortunately this isn't the case as most of the people aren't using Bitcoin for transaction purposes like customer-merchant transaction).
Bitcoin for others can be a form of investment like the stock market and the like.
Bitcoin for other can be a speculative hedge like what most are doing now. Investing some of their money just to hedge. No evidences regarding this just my opinion and my feeling .

Bitcoin will be here to stay for sure and please remove your spam link in the end of your post .

[Hypnosis00]

The only adoption is what do we need for Bitcoin to stay. Common people just come and go because they never understand crypto and the capabilities to understand as well.
Bitcoin's creation is for intended for as a currency but it was far from its realization since most bitcoin holders never sees that thing but to consider it as an asset for investment. But the good thing with the situation today that contibuted to crypto market is that people are making their way to use Bitcoin for payment aside from considering it as an investment.

[Taskford]

The first step to bitcoin adoption is to accept that it's a currency. After all, it's competing against fiat money, which is also a currency (in terms of the goal to decentralize the financial system). Imagine inventing the time machine, but after introducing it to the public, it was accepted and used as a teleportation machine instead. That time machine will never serve its purpose. 

A lot of people do still think that bitcoin is not a currency due to its volatility in the market.

But when you connect it in to the use of fiat in terms of the market, bitcoin can somehow have a huge difference to it.

If you are knowledgeable about bitcoin's capability of making someone become successful and you are not affected by other people on how you use it in the market. Therefore, you are in the right path and you are treating bitcoin and using it in the proper way. You are trusting it and you are treating it just a normal currency that you make as an asset for your investment.

Many call it as investment since this is introduce as investment to the other persons promising that they can earn huge with bitcoins so its not a surprise if someone call bitcoin as investment and not a currency.

The profitability can potentially bring by bitcoin is so huge especially if you know how to play the market volatility but if people just dive in and seek for quick scheme then most provably they will lost their money for some uncertain things.