Bitcoin is still a digital currency

[Supreemo]

different people have different perspective towards bitcoin, some see it as a a store value, while others see it as only a digital currency, although it is too much to say to prove someone's point both are still acceptable. i agree from someone saying here too that there are some who are afraid to use it as a store value or currency due to its volatility, but remember that initially bitcoin is created with these things in mind so that depends on how you view this technology.

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[carlfebz2]

The number one reason why people don't use Bitcoin as a currency is its volatility. Imagine you are a business and you accept Bitcoin, and suddenly it crashes by 30% and now you are short on money for your operational costs. Or the opposite - you took a Bitcoin loan, Bitcoin jumped up by 50% and now you owe more money than you took, basically suffering a loss. A partial solution could be tying Bitcoin prices to its market price, but it would create problems too. Someone can order an item, then cancel it after a week and the seller will have to return a different amount of money.

It doesnt really fit out on the criteria but making use of it as an alternative then it would do but speaking about on being main currency? Lets just accept the fact that it cant really be just that possible. There's no

way that it would really be treated such considering about its properties and characteristics then it doesnt really fit out into that certain position.It isnt really that bad on being optimistic but going that far
and believing and making yourself that too expecting that it would be coming into this point then you would really make yourself disappointed.

Just go with the flow and as long you do make money out of its movement then it would be better if you do focus on this one.

[bosede1]

Your claim is right that Bitcoin is a digital currency that is used as a means of payment, apart from this it is also an investment avenue for people. Don't know the reason why you won't want people to look at the investment side of Bitcoin because as an innovative and curious person, you should always see an advantage in positive things why miss out on this?

[Rruchi man]

Most people being introduced into bitcoin sees bitcoin as a means of investment, precisely since 2018. They don't even care of knowing what it is use for, all they care about is that they can make money from it and this flaw has been exploited by the government and now most countries legalising Bitcoin, legalised Bitcoin as an asset instead as an digital currency.

Your post is quite a length, but from the little I understand is that this discussion is to address the fact that many people see bitcoin as something to invest in rather than the whole image of it where it should also be used as a currency even first even before an investment opportunity. The investment opportunity in bitcoins is very attractive, and if it were just for currency that bitcoin can be used, buying of bitcoins will be low because many people care less about a new currency.

[GeorgeJohn]

It's our wrong understanding of bitcoin that make us to see Bitcoin in another ways or giving the definition of bitcoin base on our perspective, Yes, bitcoin is a digital currency and it purpose of creation is not to be a competitor with a fiat currency or rather been a helping hand to fiat's currency, so one of the major thing many people embrace bitcoin or adopt bitcoin as an investment option it's because bitcoin is an asset and it can appreciate and also decreases, so making a point that bitcoin is not an option for investment" so from my perspective I don't think that information is ideal or can be considered as a welcomed development.

[TimeTeller]

Most people being introduced into bitcoin sees bitcoin as a means of investment, precisely since 2018. They don't even care of knowing what it is use for, all they care about is that they can make money from it and this flaw has been exploited by the government and now most countries legalising Bitcoin, legalised Bitcoin as an asset instead as an digital currency.

Your post is quite a length, but from the little I understand is that this discussion is to address the fact that many people see bitcoin as something to invest in rather than the whole image of it where it should also be used as a currency even first even before an investment opportunity. The investment opportunity in bitcoins is very attractive, and if it were just for currency that bitcoin can be used, buying of bitcoins will be low because many people care less about a new currency.

I believe the reason why most are looking at this market as investment is owed to its high volatility aspect.
Because of its volatile nature, a lot are seeing this as an asset that they can get high profits from.
Not because they want to use this currency for their daily expenses, but an investment where they can wait for certain period to cash out.
This is why some people are getting disappointed if they are not seeing their holdings to get high gains.

[bettercrypto]

If only bitcoin is handled like a Fiat currency, then obviously Bitcoin will no longer be called a digital currency. That's why it's called digital not physical money and now because of business people who believed in bitcoin they gave it value until it increased little by little who invested in it which is the reason why its value in the market increased.

      So, it means that the main thing that has been good about bitcoin is that it has a technology in which the blockchain is the reason why it was embraced by investors, so most of them believed in it as a good long-term investment and time has proven it. that have passed.

[ChiBitCTy]

I couldn't agree more with you and what makes me really happy reading this is you changed!  I studied bitcoin for an entire year before ever buying..I read books, I read articles , I watched YouTube videos etc.  I've always "been in" bitcoin for the technological breakthrough that it is.  Now of course I see it as an investment now too...but I was there for the days where it was worth very little.  Working in finance, and knowing how corrupt the banks are, I was absolutely excited about what it meant in terms of an alternative to banks...a decentralized digital currency (it just now happens to also be an investment by nature).

[blue Snow]

I prefer to see bitcoin being accepted as a digital currency and not as an asset or anything because that what it is.

As another member said above, your post is very long and kinda tired of reading it, but I will draw conclusions from the last sentence.

So dude, how you got feel that Bitcoin is only acceptable for payment and digital currency? did you reading the Bitcoin white paper then you write this thread?

You should know, in my country, bitcoin is illegal for payment, or not as a digital currency, but in that case, we are here shall and legally to keep bitcoin as an asset investment such as gold, silver, or any kind of asset. And, Even we are a bit off from the white paper, but still, we (as bitcoin enthusiasts) hope an exception for bitcoin (to be a digital currency) in next in near future.

to make it able, (if I have time and have finished law school) I'll try to compose the draft law to be submitted to the senate.

[jaberwock]

As another member said above, your post is very long and kinda tired of reading it, but I will draw conclusions from the last sentence.

So dude, how you got feel that Bitcoin is only acceptable for payment and digital currency? did you reading the Bitcoin white paper then you write this thread?

You should know, in my country, bitcoin is illegal for payment, or not as a digital currency, but in that case, we are here shall and legally to keep bitcoin as an asset investment such as gold, silver, or any kind of asset. And, Even we are a bit off from the white paper, but still, we (as bitcoin enthusiasts) hope an exception for bitcoin (to be a digital currency) in next in near future.

to make it able, (if I have time and have finished law school) I'll try to compose the draft law to be submitted to the senate.

It only shows that you guys are lazy hehe. There is nothing wrong in writing a wall of text but of course it must be informative and non just non-sense. Moving on, Bitcoin is not only limited as a payment method but it can also be used as an asset just like a Gold, Stock, Real Estate and similar stuffs in which people can invest and make profits. In which country do you live buddy? I feel sorry for you because you can't fully enjoy the benefits of Bitcoin but you are still considered to be lucky because you can still use your Bitcoin as an asset.

In many countries, where Bitcoin is fully legal, most people there are only using their BTC as an asset too. They think spending their BTC directly is a waste while some find it hard due to the fees, speed and complexity. Not to mention the acceptance of merchants.

[dlightag]

Bitcoin is a digital currency that is perfectly work online as a means of payment and also trading and investment as it applies, Bitcoin is an asset which has more opportunities to invest now, for a future usage. In other words Bitcoin is gradually growing or spreading across the globe as time goes on and more people are entry Bitcoin business in one way to another, which is one of the easier and educative online business to some have to do as a part time or full time job and get rewards.

[Quidat]

Bitcoin is a digital currency that is perfectly work online as a means of payment and also trading and investment as it applies, Bitcoin is an asset which has more opportunities to invest now, for a future usage. In other words Bitcoin is gradually growing or spreading across the globe as time goes on and more people are entry Bitcoin business in one way to another, which is one of the easier and educative online business to some have to do as a part time or full time job and get rewards.

But surprisingly due to being optimistic of its existence on where there are people who do even believe that it would be able to replace fiat soon which is something that it is really that too much
of a claim. Bitcoin is really a digital currency and it was really made off that way on the first place, it did really just happen that it turns out that it do functions that we ll which is something that
could go in par with the current fiat but i couldnt really see any reason or possibility that it would be replacing the traditional things. Its better to appreciate on what it does and what
are the things that it benefits out.

[DiMarxist]

Bitcoin is digital currency and it have influence over the nations which many people have queue up for it's technology. Bitcoin is a digital currency that is perfectly work online as a means of payment and also trading and investment as it applies, Bitcoin is an asset which has more opportunities to invest now, for a future usage, a user must prove.
And  bitcoin is made to for transfer money in internet.the digital currency was intended to provide an alternative payment system. Bitcoin is going to be a continuous process of digital currency.

[BVeyron]

Most people being introduced into bitcoin sees bitcoin as a means of investment, precisely since 2018. They don't even care of knowing what it is use for, all they care about is that they can make money from it and this flaw has been exploited by the government and now most countries legalising Bitcoin, legalised Bitcoin as an asset instead as an digital currency.

 I was once among these set of people who just sees Bitcoin as a means of investment not until I joined this Forum, where I saw a reason to read the Bitcoin Whitepaper and did research about how it helps in the field which it was created for.
Bitcoin as digital currency was created to make online payments to be sent from one party to another without the need of an intermediary.

The problem with BTC and other cryptocurrencies is that nearly none of the business initiatives accept payments directly in crypto. In this case, exchange is needed, and exchange hubs are controlled by fiat banks and the world's richest tycoons. Without these things all the cryptocurrencies will become nothing just in a second. That's the way cryptotrade is controlled by fiat-backed structures.

[Lida93]

Actually Bitcoin stored in centralized exchange and banks are same, you're don't have full control over your money.

There's no big difference between a centralized exchange and banks actually, only that with your money in centralized exchange you are able to use it to trade at any point in time, you can choose to use it all and you don't need to go through so much paperwork before been allowed to do so unlike with the traditional banks. We can ascribe centralized exchange to be the banks of the 21stC cause just like the traditional banks they also do work with KYC only that they're are mostly crypto focused.  Even though they help facilitate the easy use of bitcoin for various purposes it still doesn't sound wise to keep your asset lying in CEX as it's not just safe.

[fredericktaylor]

Bitcoin is a digital online currency. The main reason for Bitcoin's worldwide popularity is its price volatility. Bitcoin is often referred to as a cryptocurrency because it uses cryptographic techniques to secure transactions and create new units. Traders are investing in Bitcoin as a digital currency and reaping long-awaited profits.

[Z390]

What if I own a silver dollar? Technically, it's still a currency but most people see it as an asset. I get your point OP but is the distinction really important? You worry too much what the government can do, it's not like they have full control, unless you consented control of your bitcoins to them.

You are very right Obito, but you mentioned that most people sees Bitcoin as an asset, don't you? I don't believe that most people just see Bitcoin as an asset, I believe Bitcoin positioned itself more like an asset, because the Volatility is obviously creating buying opportunities for the future Bitcoin investors, even an unborn baby will have his chances with Bitcoin because of volatility, what we don't want to do is buying high and selling low, it should be the other way around.

If you can buy low and sell high, that makes it an asset because you need to hold for long term for the selling time to ripe, you holding and keeping it makes it an asset, it adds value in time, to me Bitcoin is more of an asset than digital currency.

[nur rochid]

What if I own a silver dollar? Technically, it's still a currency but most people see it as an asset. I get your point OP but is the distinction really important? You worry too much what the government can do, it's not like they have full control, unless you consented control of your bitcoins to them.

You are very right Obito, but you mentioned that most people sees Bitcoin as an asset, don't you? I don't believe that most people just see Bitcoin as an asset, I believe Bitcoin positioned itself more like an asset, because the Volatility is obviously creating buying opportunities for the future Bitcoin investors, even an unborn baby will have his chances with Bitcoin because of volatility, what we don't want to do is buying high and selling low, it should be the other way around.

If you can buy low and sell high, that makes it an asset because you need to hold for long term for the selling time to ripe, you holding and keeping it makes it an asset, it adds value in time, to me Bitcoin is more of an asset than digital currency.

for beginners it is undeniable that by buying bitcoin we will get more profit from the price volatility that occurs, therefore it is not surprising that more and more people are joining to put their money in bitcoin investment. after they enter, you must be patient to wait for the profits to come. that is what is more popular than bitcoin than its use as a digital currency, just enjoy the benefits and dare to take opportunities to invest, and the rest if regulations have been established then we are already in the line of changing times

[Gallar]

now most countries legalising Bitcoin, legalised Bitcoin as an asset instead as an digital currency.

I don't think you know about the country of el Salvador which is currently successfully adopting bitcoin as a legal tender in the country. So with this fact it can be concluded that your argument is not quite right. So it's best before you make a post related to bitcoin, you have to look for complete references in the article you are writing, so that your post doesn't have any obvious mistakes. Because you mentioned several countries only legalize bitcoin as an investment asset. In my personal opinion, making bitcoin as an investment asset is also not something bad, because it mostly has a positive impact on investors. So it's not wrong to make bitcoin an investment asset, because basically even if it is used as an investment asset, it can still be used as a means of payment if needed.

I know people have various view of Bitcoin as some view it as an alternative to digital gold so they see it as a means of investment , some sees it as something that gives them total control of their money while they are other views but this is the most common aside from what it was created.
Though, they have a solid reason to justify their claims but in the end this is not the main reason or use for Bitcoin. It is just a part feature that bitcoin offer as a digital currency.

Having an opinion like that about bitcoin in my opinion is a pretty good thing, because with opinions like that among bitcoin enthusiasts, it definitely indirectly makes bitcoin a more multi-use asset.

[Amphenomenon]

I don't think you know about the country of el Salvador which is currently successfully adopting bitcoin as a legal tender in the country. So with this fact it can be concluded that your argument is not quite right. So it's best before you make a post related to bitcoin, you have to look for complete references in the article you are writing, so that your post doesn't have any obvious mistakes. Because you mentioned several countries only legalize bitcoin as an investment asset. In my personal opinion, making bitcoin as an investment asset is also not something bad, because it mostly has a positive impact on investors. So it's not wrong to make bitcoin an investment asset, because basically even if it is used as an investment asset, it can still be used as a means of payment if needed.
, because with opinions like that among bitcoin enthusiasts, it definitely indirectly makes bitcoin a more multi-use asset.

It workout for El Salvador But that doesn't mean it is the right way because it makes it possible for government to get task from it and this was not was stated by Satoshi in the Whitepaper.