Post
Topic
Board Bitcoin Discussion
Re: Bitcoin could be used to pay for Bills,load and for travel in the Philippines
by
jseverson
on 03/03/2019, 07:33:06 UTC
Unfortunately Bitcoin is not money. At least not yet.
It is still an asset and this is how it will remain until the volume that forms the BTC rates will come from those users that are paying bills with it and treating it as a currency and not an asset. Right now people are still trading it as an asset more than they use it as a currency.

Actually, by definition, money can be an asset. I see what you're trying to say though, and I disagree. Bitcoin is money; it's just a bit problematic how people are actually incentivized not to spend it.

And you said it yourself. Things will never change until people actually use it as money. I get that it's probably not financially wise to spend it because it could easily be worth 10x more in the future, but it won't actually get to that point if everyone just relied on everyone else to do the dirty work.