Is or Will Cryptocurrency Be A Recognized "Real" Currency?

[JLCitadel]

Title asks the question, what's the communities take on it?

 

My opinion is, if everyone says that they are they will be. If everyone says they aren't they won't be.

 

Whichever side has more people will determine it.

[MatheusSanzo]

Yes, maybe, no...

 

Who knows?

[chicksoup]

For online purchases maybe, but probably not before it becomes more stable and safer

[linusforsell]

In its current shape and form, hopefully not. If a new, more mature and regulated currency were to be introduced I might start standing behind the concept of a digital currency. But for now, it's only the hype keeping the value and interest up (hey, that sounds like a company "some people" are really fond of...).

[Oshino Shinobu]

I don't think so. Bitcoin and other cryptocurrencies are strongly associated with online drug trades and other illegal activates, and I don't think they'll be able to get away from that due to the nature of cryptocurrencies. Not to mention how unstable cryptocurrencies are, their value can drop over 30% in a matter of days. 

[Hans Christian | Teri]

No one knows.

[wng_kingsley7]

@linusforsell OMD your that guys who bought the pink first blood.............asdohadshadsfiadshiadsaidskadshl2....damn!!! your awesome

 

Carrying on with the topic of should cryto currencies be recognized as a real currency. Well one since we transfer money that we have over the network of computers using the three main methods transaction/deposit/& withdraw. We can take money that is ours but if we don't have enough we can always make more.

Crytocurrencies have become a viral thing due to not many people having interests so obviously in time no one would perceive the amount of value it would have when it did happen.it

 

Well if you think about it not everyone needs to use it. Whether your saying it shouldn't or it should be states already that people having been using transactions and selling/bidding and buying this currency for a while now.

 

I do realise this link talks about about how much money there is on earth however it does very much relate to how & potentially bitcoins could become a real currency.

http://www.youtube.com/watch?v=w2tKg3E53DM&hd=1

[mansoor_]

at the moment it behaves like market stock, wild variations however it has lasted a significantly long time.

if we had rational educated leaders, we would switch to virtual currency immediately, it is so easily tracable

there would be no such thing as tax evasion, or fraud

we could use fingerprints and other bodily sensors like heart rythm to verify wallets ownership, the technology for which already exists

and most important of all it has a physical value in that computational work is backing it up, unlike our petty fiat currencies.

there would be no way to fiddle with its value, like gold prices are, as it is mathematically verifiable and it could easily be recognised.

[Theo]

To the people saying it isn't stable and all that, you know paper money in the beginning was worse? Yet now it's "stable" after lots of years

No one can tell the future about this, but I'm excited to see it

[wng_kingsley7]

The only bad part is that this type of money is more prone to being stolen by hackers since its so easy to start mining. With real money the time already has been invested into firewalls etc to stop elitist hackers and in the real world not the virtual world, national banks have metal vaults to prevent the taking of money to be so easy.

[felixbearpig]

its going to be hard to recognized cryptocurrency as real currency if people keeps treating it like stocks 

[wng_kingsley7]

What most people would look at money at is that " it has no value what'so'ever" I can give someone a rock which has gems in it ...doesn't mean it has value until you have greed or your ego is larger enough to be unsatisfied to distinguish it between other materialistic objects.

[CwGoh]

If it becomes more mature, regulated and people see it as having more accountability, and that governments are not against it, it does have the potential.

[LogicalDrm]

When some country starts to use it then its officially real

[applebook]

Let's hope not. 

[flibberdipper]

Some places are already accepting bit coins, so I kinda think it might catch on.

[VincentC]

The biggest problem I have with bitcoins is cashing out. I am unable the cash it all out at once like a casino, but have to wait for 3 or 5 buyers and worst of it all is that the money goes into paypal not to a bank routing number for physical cash. 

[That Norwegian Guy]

Norway announced they were going to evaluate whether Bitcoin should be taxed as a currency. In record time, they concluded they would not tax it as it wasn't a real currency and would never become one.

[For]

no yes no

 

that is my verdict.

Atm it's not a real currency, it'll stay stable for a while and become a bigger and bigger deal as more and more people start using it.

Then bitcoin inevitably crashes and no one will use cryptocurrancies for anything other than illegal purchases on the internet.

 

Maybe it will be real for a while but it's doomed to fail imo.

[LapX]

It will most likely be banned because it is used without tax and the governement, instead of trying taxing it, will probably just make it illegal. Also, things like silkroad uses bitcoins, wich is very very very very very x10^99999999999999 illegal.

[tonychau77]

Germany has recognized Bitcoin as a currency. And I think the police of a city in US us willing to pay in Bitcoin.

[Judahnator]

My opinion is, if everyone says that they are they will be. If everyone says they aren't they won't be.

 

what makes up a currency:

1: people trade it

2: it has value

 

by that definition, it is a currency.