AlJazeera defines BTC world's potentially most powerful currency

el kaka22

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No surprises here apparently.
Bitcoin definitely deserved to have been recognized as the potentially most powerful currency.

Lauda

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Quote from: pereira4 on June 13, 2016, 08:39:38 AM

People is waking up. For now is the chinese because they feel a read need, but wait until Europe starts collapsing soon, then the dollar will follow. Everyone will go on Bitcoin for safety.

They don't "feel a real need". The yuan is possibly going to lose value, and I've even heard of potential capital controls. Bitcoin is one of the ways that they can move away from yuan.

Quote from: Wendigo on June 13, 2016, 09:53:01 AM

Isn't the Euro currency stable at the moment though?

Well, that depends. Another bank (in Belgium) has collapsed and another one needs cash injection. All these events are going to have side-effects.

Quote from: Wendigo on June 13, 2016, 09:53:01 AM

Maybe if the UK exits the European Union it will get interesting for Bitcoin over there. They have to vote soon right? I think it was this summer or something.

It will happen on 23rd of June (10 days to go). The sterling is already suffering.

raphma

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It's no all about the coin itself( and yeah, bitcoin is awesome) but the evolution of technology too.
Using fiat to buy in another country isnt easy(at least not in a few country), generally it include a lot taxes and bitcoin helps with this for example. And im not even talking about anonimity and less burocracy.

Wendigo

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Isn't the Euro currency stable at the moment though? I don't think we will see something similar to what happened in Cyprus during the bank crisis again any time soon. Bitcoin is pretty popular in the Scandinavian countries though. Maybe if the UK exits the European Union it will get interesting for Bitcoin over there. They have to vote soon right? I think it was this summer or something.

pereira4

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People is waking up. For now is the chinese because they feel a read need, but wait until Europe starts collapsing soon, then the dollar will follow. Everyone will go on Bitcoin for safety.

Ayers

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so without china bitcoin is doomed to fail? would we have the same price without their pump? other country are not that interested in bitcoin, which is too bad

eternalgloom

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It would be very interesting to see if people would eventually choose Bitcoin over or alongside precious metals as a means to safeguard funds from hyperinflation. I'm sure that there are already some people doing this, but I doubt that it's done en masse.

DeathAngel

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Getting air time on Al Jazeera is good. We all know that there is a shit load of money in the UAE, imagine if even 1% if it got pumped into bitcoin.

Denker

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Quote from: 7788bitcoin on June 12, 2016, 08:05:17 PM

Quote from: the_poet on June 12, 2016, 07:37:08 PM

http://www.aljazeera.com/programmes/specialseries/2016/06/rise-rise-bitcoin-160608110618095.html

Also:
Nikkei: "Bitcoin becoming popular in China as yuan slides"
http://asia.nikkei.com/Markets/Currencies/Bitcoin-becoming-popular-in-China-as-yuan-slides

Agree but bitcoin is still far from being the most powerful currency. We still have so much to do and improve (eg blocksize??) before it can be used as a real "currency", as in paying for bread and butter in our daily life...

Blocksize won't be an issue anymore in a few months when layer 2 implementations got installed.
Paying your bread and butter with Bitcoin is a question of adoption and general acceptance.This will indeed need much more time.

Lauda

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Quote from: gagalady on June 12, 2016, 08:20:37 PM

Bitcoin deserves the title, it has outperformed most currencies and stocks.

This. I think there was a chart somewhere showing the performance of the currencies (including Bitcoin) for the past few years. There's this one for 2015 (+ some numbers):

2016 will surely look better.

Quote from: isvicre on June 13, 2016, 05:39:05 AM

The dollar will put up a big fight and it will get messy before btc reigns supreme.

The fight is already "messy". Just look at how many times Bitcoin has been declared dead.

Quote from: biggbox on June 13, 2016, 06:25:49 AM

On a serious note, if the popularity of BTC jumps 3 fold, I worry how the blockchain can handle and the confirmation time needed just to clear one confirmation.

You need not worry much about such things, unless of course, you can do something about it (which I doubt).

biggbox

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Quote from: vero on June 13, 2016, 05:12:19 AM

Quote from: the_poet on June 12, 2016, 07:37:08 PM

http://www.aljazeera.com/programmes/specialseries/2016/06/rise-rise-bitcoin-160608110618095.html

Also:
Nikkei: "Bitcoin becoming popular in China as yuan slides"
http://asia.nikkei.com/Markets/Currencies/Bitcoin-becoming-popular-in-China-as-yuan-slides

exactly right, bitcoin has shown to the bank how powerful bitcoin as a currency, how fast send money with bitcoin. totally just wait a little time to see all nations in the world would recommend bitcoin as a alternative payment.

On a serious note, if the popularity of BTC jumps 3 fold, I worry how the blockchain can handle and the confirmation time needed just to clear one confirmation.

isvicre

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Such exposure is only a good thing, but the journey to most powerful currency is a long one. The dollar will put up a big fight and it will get messy before btc reigns supreme.

vero

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Quote from: the_poet on June 12, 2016, 07:37:08 PM

http://www.aljazeera.com/programmes/specialseries/2016/06/rise-rise-bitcoin-160608110618095.html

Also:
Nikkei: "Bitcoin becoming popular in China as yuan slides"
http://asia.nikkei.com/Markets/Currencies/Bitcoin-becoming-popular-in-China-as-yuan-slides

exactly right, bitcoin has shown to the bank how powerful bitcoin as a currency, how fast send money with bitcoin. totally just wait a little time to see all nations in the world would recommend bitcoin as a alternative payment.

hermanhs09

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Quote from: the_poet on June 12, 2016, 07:37:08 PM

http://www.aljazeera.com/programmes/specialseries/2016/06/rise-rise-bitcoin-160608110618095.html

Also:
Nikkei: "Bitcoin becoming popular in China as yuan slides"
http://asia.nikkei.com/Markets/Currencies/Bitcoin-becoming-popular-in-China-as-yuan-slides

I love Aljazeera news, they actually cover some of the areas of the news that other independent news sources struggle to keep up with in their bulletins. And I think they're absolutely right with bitcoin.

Bitcoin has the potential to become the dominant currency, if the right conditions are met.

biggbox

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I think the current price, the surge and the media attention is now drawing in investors who normally look at traditional instruments. Good. More demand, limited supply. Driving up prices

RealBitcoin

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It is true, bitcoin is the most powerful currency, because it has uncontrollable disinflation.

While the fiats are all heading into hyperinflation...

gagalady

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Bitcoin deserves the title, it has outperformed most currencies and stocks.

shinratensei_

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Quote from: the_poet on June 12, 2016, 07:37:08 PM

http://www.aljazeera.com/programmes/specialseries/2016/06/rise-rise-bitcoin-160608110618095.html

Also:
Nikkei: "Bitcoin becoming popular in China as yuan slides"
http://asia.nikkei.com/Markets/Currencies/Bitcoin-becoming-popular-in-China-as-yuan-slides

That's right we can see for bitcoin progress,bitcoin can surpass western union and more make a domination with dollar. seems the world is know how bitcoin potentially.

the_poet

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Bitcoin accepted here

Quote from: 7788bitcoin on June 12, 2016, 08:05:17 PM

Quote from: the_poet on June 12, 2016, 07:37:08 PM

http://www.aljazeera.com/programmes/specialseries/2016/06/rise-rise-bitcoin-160608110618095.html

Also:
Nikkei: "Bitcoin becoming popular in China as yuan slides"
http://asia.nikkei.com/Markets/Currencies/Bitcoin-becoming-popular-in-China-as-yuan-slides

Agree but bitcoin is still far from being the most powerful currency. We still have so much to do and improve (eg blocksize??) before it can be used as a real "currency", as in paying for bread and butter in our daily life...

Yes, I know it, but the important thing is that such a statement comes from a mainstream media outlet, not certainly a website that has anything to do with cryptos or Bitcoin.

7788bitcoin

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Quote from: the_poet on June 12, 2016, 07:37:08 PM

http://www.aljazeera.com/programmes/specialseries/2016/06/rise-rise-bitcoin-160608110618095.html

Also:
Nikkei: "Bitcoin becoming popular in China as yuan slides"
http://asia.nikkei.com/Markets/Currencies/Bitcoin-becoming-popular-in-China-as-yuan-slides

Agree but bitcoin is still far from being the most powerful currency. We still have so much to do and improve (eg blocksize??) before it can be used as a real "currency", as in paying for bread and butter in our daily life...

Topic: AlJazeera defines BTC world's potentially most powerful currency (Read 1029 times)