Will people actually use Bitcoin as currency?

Discussion in 'Digital Currencies' started by SilverDJ, Dec 12, 2015.

  1. SilverDJ

    SilverDJ Well-Known Member

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    I was wondering, will people end up actually using Bitcoin as it was intended, i.e. as a currency to buy and sell everyday things. Or will it end up as mostly an investment vehicle?
    I know people do certainly use it as currency, but if enough people view as a potential investment then surely they are going to hoard it instead of spending it?

    There is the same concern over gold, for instance ISIS are tryign to use gold coins as a new currency, but it's likely that people will just hoard the gold coins and use paper currency instead.
     
  2. Golightly

    Golightly Well-Known Member Silver Stacker

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    Bitcoin will end up being a wealth store not a transaction currency, it's to slow, but whatever cryptography is used one would quickly swap it back to BTC.

    Mind you I do believe that the open ledger nature of btc is to much of a Gov/bankers wet dream to be an accident, it has to be a prototype for the future of currencies, would work well with RFID chips
     
  3. silverbait

    silverbait Active Member Silver Stacker

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    Today I have seen (Bitcoin accepted here) sign in Thailand.

    I was surprised. Also they did not accept credit cards so obviously that restaurant wasnt interested in traceable side of the economy imo.
     

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