Topic: Bitcoin as national currency? - page 7. (Read 1035 times)
IMHO, If you mean using bitcoin as payment to all daily transactions of all the people buying their daily needs ,wants and etc., then its impossible. We all knew that bitcoin has a delayed confirmations. For example if you buy a soft drink in the street and pay with bitcoin, you need to wait at least a couple of minutes or longer to reflect the bitcoin amount to the wallet of the receiver. So I think a country will make their own utility token with super fast transaction, at the same time this token can be traded also to bitcoin.
Could it be possible that in the future there are countries that use bitcoin as the national currency??
It couldn't be possible if just use bitcoin, there is a possibility if use altcoins that is similar with a currency of a nation such as usdt for usd in virtual world.
If bitcoin becomes national currency, then most likely it will be some kind of a new country. Existing countries and governments will not allow bitcoin replace the national currency, because bitcoin is not possible to control.
There is a version that bitcoin holders will soon buy themselves a piece of land and create their own country, that's where BTC will be the national currency.
There is a version that bitcoin holders will soon buy themselves a piece of land and create their own country, that's where BTC will be the national currency.
I do hope that when a day come wherein we could use bitcoin as national currency, just imagine you can just freely travel all around the globe and no worry to come with your money exchanger.
If a country uses a bitcoin currency in my opinion it is highly unlikely, in the country's economy. see Bitcoin at an unstable price because of its enormous influence on the country's economy.
Finally, the drawdown has come to an end and I hope that many have bought the bitcoins advantageously because now there is growth.
Could it be possible that in the future there are countries that use bitcoin as the national currency??
Bitcoin is a digital currency acceptable all over the country, and working perfectly online transaction, Never the less any country want to create it own crypto currency by the government approval, is the Best idea so far, because the rate of bank stress and risk we reduce. Because we are now on digital world by using soft wallet...
Could it be possible that in the future there are countries that use bitcoin as the national currency??
no. Bitcoin is decentralized, and the government will avoid anything without a full control. It is too risky for a country if the national currency is something decentralized like Bitcoin without full control over the governments. Even though there is a good side, I believe there will be a lot more of bad side.Japan is already doing this 
. Zimbabwe is another country that could do this and so is Ireland. As of now it's really difficult for any major country to come out and make it, reason is most of the country's are keen on banning it. So there's little change to see this happen anytime soon, few years down the line I feel yes.
I don't think the government fully accept Bitcoin as a payment system for their country. It just the government is in favor of Bitcoin. . Zimbabwe is another country that could do this and so is Ireland. As of now it's really difficult for any major country to come out and make it, reason is most of the country's are keen on banning it. So there's little change to see this happen anytime soon, few years down the line I feel yes.
I think it will have a disadvantages and advantages. The advantage it will not be hassle to carry your money it can be in your mobile phone also when digital currency became the mode of payment across a country transferring money will be easy. The disadvantage is the digital currency is an internet dependent also old people will not be easily understanding what these means. Also digital currency will having a long run to become the national currency because many banks/ companies will opposed in the said decision. Though it will be a benefit to us as a Bitcoin investors there are bad sectors that will be happening to other people.
Could it be possible that in the future there are countries that use bitcoin as the national currency??
Japan is already doing this
. Zimbabwe is another country that could do this and so is Ireland. As of now it's really difficult for any major country to come out and make it, reason is most of the country's are keen on banning it. So there's little change to see this happen anytime soon, few years down the line I feel yes.
No possibility at all. However, at some point I guess every country will have their national currency or currencies. Venezuela has already launched one, the Petro, backed by oil, and is going to launch another one backed by gold. Iran has announched the launch of one owns cryptocurrency. Russian is planning an own cryptocurrency too. Other countries will follow for sure.
Bitcoin can not be used as a common currency of a country, Bitcoin is not owned by any country and the price fluctuates frequently, if you hold a property whose price fluctuates, you have keep them? I think no one can accept that. And bitcoin is very difficult to manage, the tax evasion, money laundering, are concentrated in the bitcoin market.
It is possible that a country could use bitcoin as its currency but it would still always be converted back to a fiat equivalent.
What is more likely to happen is that a country would try and create its own version of bitcoin but would probably lack the same principles as many altcoins like privacy.
What is more likely to happen is that a country would try and create its own version of bitcoin but would probably lack the same principles as many altcoins like privacy.
Maybe not Bitcoin!
But I totally could imagine some countries creating their own blockchain and therefore issuing their own cryptocurrencie!
But I totally could imagine some countries creating their own blockchain and therefore issuing their own cryptocurrencie!
Presently, it is still far from reality. With the fall of bitcoin's price. It will be quite difficult for bitcoin to be a national currency. Well, if considering national currency, I guess other countries will just create their own instead of adapting bitcoin.
To say that bitcoin is a currency for a country, I find it too small. I think it is more like a global currency. As you invest in bitcoin, you can go anywhere with just the internet, you can easily trade for money.
it is possible to use bitcoin as national currency but we are still far away to see this because we need approval from all the government and we need to fix the fee and else. but after this will solve, then I think we can use bitcoin as a new currency for all countries and bitcoin will be the currency that is used in online and offline life.
I think it will be very difficult to make bitcoin as a national currency. Politics will certainly be very difficult and this macroeconomic will require a very deep study.this will be very difficult to apply in my opinion hero member
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it is possible to use bitcoin as national currency but we are still far away to see this because we need approval from all the government and we need to fix the fee and else. but after this will solve, then I think we can use bitcoin as a new currency for all countries and bitcoin will be the currency that is used in online and offline life.
Could it be possible that in the future there are countries that use bitcoin as the national currency??
Very much possible, especially in case of developed countries. However, in case of developing countries we need improvements like wide internet coverage and more awareness about bitcoins. 
Could it be possible that in the future there are countries that use bitcoin as the national currency??
Why would they do that? They have their own currency and this currency have history or something that is important to their civilization and development. Besides bitcoin is an application only of blockchain technology and they can make a blockchain themselves that could be use fo their transactions. Could it be possible that in the future there are countries that use bitcoin as the national currency??
I don't know if it is possible for just so easy. Maybe it will but I assure you that it will take a lots of time before it will happened. Because government will discuss it first and also in their congress too and the chief executive will agree also with that so that the policy of a country will be proclaim ASAP that bitcoin currency will replace their local currency.
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