Bitcoin as a leading currency? - page 13.

Topaz72

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Quote from: Eugenar on December 24, 2017, 07:58:59 AM

Quote from: cipherer on May 05, 2017, 08:28:46 AM

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.

Among cryptocurrencies, I agree that it is indeed the leading cryptocurrency but I doubt that it is the leading in general. Bitcoin is not yet recognized in many countries as of this moment. Even if it had the largest market value among any ither currencies, I think it is not yet the strongest or leading. There will be more years to come for that thing to happen.

Yes it’s true that bitcoin is a leading currency because bitcoin is last man standing in market all the people around the world they are joining bitcoin some crypto have left market and some of them have replaced by bitcoin is now one of the favorite currency in market and its price is high than any other currency and very soon bitcoin will be able to end world poverty so bitcoin is only currency which is leading than any other currency.

Drixy

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reading.......

Quote from: cipherer on May 05, 2017, 08:28:46 AM

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.

First of all it is the main reason why the altcoins such as ETH,WAVES,LITECOIN,DODGECOIN they all exist because of bitcoin they were invented because of Bitcoin. Bitcoin is a master piece no doubt about it.

Booted1543

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Quote from: xhomerx10 on May 05, 2017, 09:49:07 PM

Quote from: freebutcaged on May 05, 2017, 04:51:15 PM

@OP congratulations, ...

Bitcoin doesn't have inflation, it's like a glass of water, if you fill it with liquid gold then does it still hold the same value as the water?

Reminds me of this...

So it's more like a glass of liquid gold then? You lost me.
Would it be possible to illustrate this some other way? I would like to understand.

I think he's saying that it's only worth what people value it as, and that Bitcoin itself is nothing but code.

malikusama

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There are two sides of story, Bitcoin has the potential to lead the world currencies but no government will ever want to do so because of its decentralized, anonymous and volatile characteristics. Leading currency should be less volatile than others but bitcoin's volatility is increasing with the increase in price.

And second thing is the possibility of paying bitcoin in small amount (i.e in satoshi) will never be economical due to high transaction fee, even if the transaction fee get lower you will have to pay fee for each an every transaction even for a single satoshi.

Eternu

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I guess that full amount of bitcoins will never be in use. Because from time to time people lose thier wallets or information for it. Also who knows how much was lost in the past. But even with that i think that there are more than enough coins. Bitcoin will never become main world currency, because countries will want their own currency. But that will not stop people from using it all over the world.

worle1bm

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Quote from: cipherer on May 05, 2017, 08:28:46 AM

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.

Since its evolution by sathoshi it has come down a long price and development journey and now is at 15000$+ and used by huge masses for several purposes and it is now recognized the leading crypto with a market cap of above $200 billion.Many altcoins came but they cannot withstand its power but some are giving tough competition but still are far behind.The total supply is of 21 million out of which many have been lost permanently but if we talk about its usage in normal life then at current it is not possible because financial agencies prevents this to happen but who knows this currency become a routine part of our lifetime in future replacing all other things.

won99

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I think bitcoin has stable price in many time. So it was reason why bitcoin as a leading currency. Thanks for bitcoin because I always get many more rewards from bitcoin

bavian

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Quote from: Opnsrc on December 25, 2017, 10:18:07 AM

Of course, Bitcoin is now the leading currency. And in the near future it will remain the leading currency. I do not see any competitors now.

I think BitcoinCash could be the next competitor with Bitcoin. Looks like people are trying to pump the BCH to the moon.

JL421

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Quote from: cipherer on May 05, 2017, 08:28:46 AM

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.

This would be easily possible if the market supply was much larger but sadly over half of the coins have already been mined, therefore making it difficult to be traded with. Btc is increasing in value but the same can't be said for its supply.

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Quote from: @matthew17 on December 26, 2017, 07:52:26 AM

In all currencies bitcoin is the most popular in all , and it is has the good rate everyday .

which you say is true,
but to force bitcoin into world currency! I think it will be very difficult
because in essence bitcoin still has limits.
because in some areas difficult to get access to the Internet network.
this is the limit that makes it impossible

farhaan

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There is nothing wrong with bitcoin to be used as a leading currency.Earlier,transactions were made very fast and at very low fee when compared to other payment options.But what has made it difficult to be used is the very high fee and even a week for the transaction to get confirmed.

Already,bitcoin is nowadays getting used as an asset.It was said that bitcoin could not be used for micro payments and now,bitcoin has become not even usable for major payments too.

@matthew17

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In all currencies bitcoin is the most popular in all , and it is has the good rate everyday .

Dreamchaser21

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Quote from: Napole0n on December 24, 2017, 08:09:02 AM

Yes true, with the price increase that happened very extraordinary then make bitcoin is very strong currency and counted everybody, I'm sure bitcoin performance keeps improving.

We will see bitcoin at a higher value in the next 3years, bitcoin will really make us rich for sure. It will lead us to a greater nation, and bitcoin will surely remain on top of all altcoins, a bright future ahead with bitcoin.

AMHURSICKUS

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Bicoin is the first ever cryptocurrency,
So it will always be the number one crytocurrency, and until now one can surpass it.
Although few bitcoin is being died, because of some reasons.
But still lets trust bitcoin and i know bitcoin will never fail us.

tonysitaly

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This will not happen if bitcoin has become the main currency, it will greatly reduce the number of these countries currency circulation, which for some country's economy is very harmful, liquidity, may limit the money in the bank is also not welcome bitcoin.

AyaYotoko

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Bitcoin is proving itself as a leading currency from past 9 years. It continues to lead the pack of cryptocurrencies in terms of market capitalization, user base and popularity. Nevertheless, virtual currencies such as Ethereum and Ripple which are being used more for enterprise solutions are becoming popular.
It was amongst the top 90 currencies in the world in early 2017. Within 11 months, it has evolved into the 30th largest currency in the global market with exponential increase in user base, daily transaction volume, and popularity.

Hope this momentum will be continue in 2018 also..............

evanescence

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It has been since its inception and will continue to be for the foreseeable future.
But some cryptocurrency will take its place eventually

kolbalish

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Bitcoin is the world's first crypto currency.For this,people called this the mother of all crypto currency.Moreover, Bitcoin lead the other currency. There is no competitors for this forum.But there are more currency alive in the world.

khaled0111

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There will be less than 21.000.000 bitcoin since many of them have been lost forever.

when someone dies or lose access to his wallet for any reoson it will be impossible to recover his lost Bitcoins, that's how the system works, we can't do anything for it (at least for now).
But Bitcoin is highly divisible. There are 100.000.000 Satoshi per Bitcoin, thus even if Bitcoin reaches 1.000.000$, one Satoshi will be equal to 0.01$
and that will make buying the cheapest thing on earth possible.

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Quote from: Napole0n on December 24, 2017, 08:09:02 AM

Yes true, with the price increase that happened very extraordinary then make bitcoin is very strong currency and counted everybody, I'm sure bitcoin performance keeps improving.

No doubt in it as everyone knows bitcoin is at top these days and bitcoin price is increasing with time more and more. I hope this is time for bitcoin to improve more and get high in price so that it will be big profit currency of the year. Now people who have bitcoin in life are saying it made life beautiful for them. Bitcoin is surely increasing in price and it will give them high benefit for price and demand that is very high.

Topic: Bitcoin as a leading currency? - page 13. (Read 15125 times)