Many people think that Bitcoin is not a currency with practical uses

[Silberman]

"In fact, it is not used much in the legal economy now. Yes, a rich man sells it to another rich man, but this is not the end use. Without these uses, it has no long-term future. ," Rogoff said. In other words, Bitcoin currently exists almost exclusively as a speculative tool.

So, is the Bitcoin bubble about to burst?

I don't understand this kind of people as there are already places for using Bitcoin as a payment method. We can even buy a car with it now thanks to Tesla. And I believe the number of places will continue to increase like now. So, it is not just an investment tool. Maybe years ago it was, but not anymore.

Those people are just trying to play down the accomplishments of bitcoin, there are many reasons for this, they could simply be jealous they missed the best opportunity to make money during the last years, maybe they benefit from the current economic system and they want the current one to remain in place, maybe they are just that ignorant or they are trying to scare people away from this market, but whatever the reason it does not change the fact they are wrong.

[MVU Mining]

The digital currency is currently accepted and recognized by the market of some countries, giving birth to a large number of digital currency trading platforms, and a large number of altcoins have emerged. These altcoins have evolved into a brand-new financing model, writing the myth of rich wealth. However, this It also caused the proliferation of air currency, MLM currency and other fraud under the banner of digital currency.

In short, Bitcoin outlines a grand blueprint, that is: the future of currency no longer depends on the release of central banks, but global currency unification. However, from the current situation, the era of blockchain 1.0 represented by Bitcoin only satisfies the basic functions of digital currency and cannot be popularized in other industries.

But anyway, in one sentence, Bitcoin: There are shortcomings in the United States, and it is difficult to cover up its edge.

[geegaw]

Bitcoin is now slowly rising and recognize all over the world I don't think it's not practical to use as other speculate, now that we are in digital world using virtual currency is more of a convenient specially now a days that there is a virus circulating and many countries are opted to use virtual money rather than paper to avoid being contaminated by virus spread by money transferring from one person to another, from one place to another.

Due to the spread of Covid become too easily through exposure, online technology industries are being promoted to use but in general, online payments still rely on the cash in that country to use, for symbols like crypto and bitcoin, the appearance in the payments is still very low, maybe more companies recently became more public about using bitcoin for payments but the percentage of users who do use it is still rare. The most practical use is probably investment, maybe in the future, bitcoin may be present in physical form, its practical use will be much enhanced

[franky1]

"In fact, it is not used much in the legal economy now. Yes, a rich man sells it to another rich man, but this is not the end use. Without these uses, it has no long-term future. ," Rogoff said. In other words, Bitcoin currently exists almost exclusively as a speculative tool.

So, is the Bitcoin bubble about to burst?

i bought pizza with bitcoin last week... seems real to me

[TastyChillySauce00]

Funny because in these past months I've been making trade online  using cryptocurrency and it's really seamless without any centralized company or government intervention whatsoever.
Most of merchants that I know also seem to prefer crypto nowadays, doesn't want to get in problem with company like paypal with their ridiculous ToS.
even if I'm being frank paper money has way less practical uses than cryptocurrency considering it can't be transferred easily without using third party services like bank, maybe they're just blind.

[hopenotlate]

"In fact, it is not used much in the legal economy now. Yes, a rich man sells it to another rich man, but this is not the end use. Without these uses, it has no long-term future. ," Rogoff said. In other words, Bitcoin currently exists almost exclusively as a speculative tool.

So, is the Bitcoin bubble about to burst?

i bought pizza with bitcoin last week... seems real to me

Good timing, you saved some 



Anyway back to the topic just get a bbinance card ( it's basically free of charge nowadays ) and show them how easy is to spend nowadays.

[Becky666]

Bitcoin is such a they said but believe me that been a speculative assets has more value than the regular fiats, these are many more evidence that the world has seen that made me said, the world should embrace the speculative asset and help in it development that will push it into the global level that will accept it use as currency which will now have a practical use. IMO bitcoin is a currency but not be accepted practically.

[Shasha80]

Because the number of countries that accept Bitcoin as a currency is very small, most countries that legalize Bitcoin only accept Bitcoin as
an asset like Gold. Therefore it is very normal for many people to think Bitcoin is not a currency, especially merchants who accept bitcoin
payments are still small too. Then the Bitcoin price is still very volatile until now, all the things that I have mentioned ultimately make Bitcoin
impractical to use as currency. Finally, many people are still more comfortable and practical using fiat as payment.

[Kittygalore]

Let them think that way because no one can change their mind except themselves, this kind of people are going to hate and reject bitcoin even if it reaches the 7 digit prices. Techinically speaking, bitcoin doesn't have any other practical use besides investment and a mode or object of payment, anything other than that isn't practical.

[mezzaluna]

"In fact, it is not used much in the legal economy now. Yes, a rich man sells it to another rich man, but this is not the end use. Without these uses, it has no long-term future. ," Rogoff said. In other words, Bitcoin currently exists almost exclusively as a speculative tool.

So, is the Bitcoin bubble about to burst?

I don't understand this kind of people as there are already places for using Bitcoin as a payment method. We can even buy a car with it now thanks to Tesla. And I believe the number of places will continue to increase like now. So, it is not just an investment tool. Maybe years ago it was, but not anymore.

They are the type of people who uses Bitcoin but in denial that it would further progress in our daily lives. Bitcoin has already come a long way and its really weird that people are just asking if Bitcoin is just a bubble. If its a bubble then that is surely one hard bubble that cannot be popped. Its value is volatile and people needs to understand that its value will increase and decrease at different points in time but we should be thankful that Bitcoin is something we can earn and use to supplement our daily needs.

[bobyhodob]

it is still too difficult to accept bitcoin as a payment legally, many countries have not allowed it and there are still some companies that are new to implementing bitcoin payments

[cabron]

"In fact, it is not used much in the legal economy now. Yes, a rich man sells it to another rich man, but this is not the end use. Without these uses, it has no long-term future. ," Rogoff said. In other words, Bitcoin currently exists almost exclusively as a speculative tool.

So, is the Bitcoin bubble about to burst?

I don't understand this kind of people as there are already places for using Bitcoin as a payment method. We can even buy a car with it now thanks to Tesla. And I believe the number of places will continue to increase like now. So, it is not just an investment tool. Maybe years ago it was, but not anymore.

They are the type of people who uses Bitcoin but in denial that it would further progress in our daily lives. Bitcoin has already come a long way and its really weird that people are just asking if Bitcoin is just a bubble. If its a bubble then that is surely one hard bubble that cannot be popped. Its value is volatile and people needs to understand that its value will increase and decrease at different points in time but we should be thankful that Bitcoin is something we can earn and use to supplement our daily needs.

The argument had been around for so long that even Micheal Saylor had been challenged by people who advocate Gold is better than BTC because Bitcoin has no use but just a store of value.

They are correct at some point but BTC isn't just a store of value if they would just look at it with decentralization and security will be the main discussion. BTC is the most decentralized of all.

[famososMuertos]

"In fact, it is not used much in the legal economy now. Yes, a rich man sells it to another rich man, but this is not the end use. Without these uses, it has no long-term future. ," Rogoff said. ...//...:

The first thing to understand with this comment is that they tend to be scarce or diminish. Several economists and experts have turned to bitcoin and had similar opinions.

...//...:So, is the Bitcoin bubble about to burst?

I think it is a conjecture that loses "air" for that bubble that has remained as an old premise against bitcoin.
The Bitcoin currently has other numbers that include other types of investors as well, it is no longer just a network that has a group of individuals doing bitcoin exchange.

[MIner1448]

I think as long as the concept of speculation makes sense in society, bitcoin will also live, especially since many global corporations have joined its HYIP, which only reinforce its position in the market, but nevertheless all this may end at one moment and we will remember about it as one of the biggest scams of the century ...

[onecall123]

But nevertheless, many companies and stores provide the opportunity to pay for goods and services using bitcoin.

It's not anymore hidden cases, rather it's open secret the uses of Bitcoin. Full of excitement in my heart now that big institutions, companies are showing  their interest over Bitcoin. ex. Anyone can purchase Tesla with Bitcoin like so numerous chance out there. Developed countries as of now receive this things and other in the processing.

[pixie85]

Funny because in these past months I've been making trade online  using cryptocurrency and it's really seamless without any centralized company or government intervention whatsoever.
Most of merchants that I know also seem to prefer crypto nowadays, doesn't want to get in problem with company like paypal with their ridiculous ToS.
even if I'm being frank paper money has way less practical uses than cryptocurrency considering it can't be transferred easily without using third party services like bank, maybe they're just blind.

Then you have to be trading some expensive goods since you have to pay at least $10 to pay with Bitcoin. That doesn't mean bitcoin is impractical, on the contrary, it's a great way to keep the government off your back.

In many African countries people were forced to pay with their phone minutes for goods because their fiat money was so worthless. If we account for that then bitcoin is surely better than minutes

[xiboothrezi]

But nevertheless, many companies and stores provide the opportunity to pay for goods and services using bitcoin.

that is, bitcoin can be used as an alternative payment, this is a real function. You can use bitcoin anywhere when you travel abroad, as long as the facilities, infrastructure, and support, whereas if you use fiat you have to exchange it with the currency applicable in that country.
see? very effective right? It's just about time, the longer it will be an attractive option and many people realize that this is not a bad choice as long as we fully understand its functions and risks.

[MCobian]

I don't blame anyone for saying that Bitcoin is impractical as a currency, because it is like that. Not all countries legalize Bitcoin as payment,
not to mention finding merchants that accept Bitcoin payments is not easy. Using Bitcoin for payments must understand technology, and there
are many more reasons why Bitcoin is not practically used as a currency. I myself prefer to use Bitcoin as an asset rather than having to use it
as payment.

[jonval21]

"In fact, it is not used much in the legal economy now. Yes, a rich man sells it to another rich man, but this is not the end use. Without these uses, it has no long-term future. ," Rogoff said. In other words, Bitcoin currently exists almost exclusively as a speculative tool.

So, is the Bitcoin bubble about to burst?

NO, bitcoin bubble you mean the price will go up to $ 100k and then they will sell, but obviously it will go back up to more than $ 200k according to the S2F model. Because Bitcoin is not a bubble and I think that they have already clarified that, this would be the second stage that the Bitcoin market reaches Distribution, and apparently it has not yet entered a bullish trend. There is still a long way to go, and it may be like in 2017 for this 2021 in December we will be able to see a new ATH much bigger, at least I think that can happen.

[Trinx01]

Bitcoin is not only for speculative tool, we know how beneficial bitcoin can be, there are a lot of things that we can do with the use of bitcoin and as Satoshi Nakamoto's intention of creating bitcoin, it is not about speculation. Bitcoin is now being used for so many things, we can now use it for online payment, sending money to our relatives, paying bills, investment, and trading purposes to earn money. A lot of people are now using bitcoin for those purposes and I never think that bitcoin is only for speculative tools.

We also see that a lot of companies already accept bitcoin as a means of payment and there are already some who bought huge bitcoin for good investment.