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Topic: Bitcoin as national currency? - page 9. (Read 1035 times)

hero member
Activity: 1890
Merit: 831
February 27, 2018, 03:41:56 AM
#49
I dont think making an anonymous cryptocurrency as a national currency would be a considerable task by any government of a country. They can regularize, legalize and implement laws safeguarding bitcoins and other cryptocurrencies but making cryotos their national currency is quute unlikely.

The nationao currency of a country is quite symbolic to its citizen and government which they would not like to even modify, let alone change. But certainly the acceptance of bitcoins or cryptocurrencies in general would increase and become a widespread phenomenon in future for sure.
full member
Activity: 294
Merit: 100
February 27, 2018, 12:59:56 AM
#48
Could it be possible that in the future there are countries that use bitcoin as the national currency??
I don't think it is possible. Countries may start accepting bitcoin as a means of payment but i don't think they will declare it as National currency because if they do then it will damage their own currency and the value of their own currency with depreciate over time when compared to other countries currencies.
sr. member
Activity: 2520
Merit: 280
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February 27, 2018, 12:08:22 AM
#47
Could it be possible that in the future there are countries that use bitcoin as the national currency??
No,it will never happen in my opinion because crypto currencies are totally against the fiat money of each country so they wan to control the crypto currencies.And bitcoin is a decentralized technology so no one can control the bitcoin tell it as their national currency.
copper member
Activity: 68
Merit: 0
February 26, 2018, 11:32:53 PM
#46
Bitcoin is a deflationary currency. Heavily deflationary at that. Thus, it is not suitable as a national currency. The same way as a currency suffering from hyperinflation isn't suitable as a national currency, Bitcoins price volatility and hyperdeflation in some years make it unsuitable as a state currency. Today, it is more used as a store of value and a commodity than as a currency.
I think national currencies will move more towards cryptocurrency, but it will not be Bitcoin. Nations will create their own cryptocurrency as is already happening in some countries.
jr. member
Activity: 112
Merit: 4
February 26, 2018, 11:27:09 PM
#45
Could it be possible that in the future there are countries that use bitcoin as the national currency??

at the moment i think no. the prize of bitcoin is to unstable and it is to risky to do that. no governor will risk the country with an unstable bitcoin. but maybe in some years this could be possible, but only when bitcoin have a stable prize for a long time and maybe more support in the whole world. but this are only my thoughts about it. of course, i do not know if it really will happen, but dreaming is sometimes allowed.

yeah so that was one reason why government not want to take a risk to use a unstable bitcoin to their country
member
Activity: 504
Merit: 10
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February 26, 2018, 11:25:03 PM
#44

this is quite a long short though its possible but only some kind of a central currency accept by most, like the dollar, all countries worldwide can use the same currency as there is a big difference in economic strengths, other forms of crypto, recognized by each country will come up,and can be valued in relation to BTC,  With BTC probably becoming the highest valued coin.
newbie
Activity: 61
Merit: 0
February 26, 2018, 11:16:32 PM
#43
Could it be possible that in the future there are countries that use bitcoin as the national currency??
I think every country will create their own crypto currency, not use bitcoin as national currency
newbie
Activity: 1
Merit: 0
February 26, 2018, 10:52:50 PM
#42
Possible, let's hope for the best.
full member
Activity: 994
Merit: 138
February 26, 2018, 10:43:03 PM
#41
Could it be possible that in the future there are countries that use bitcoin as the national currency??
I do not think so. because every country has its own currency. and cryptocurrency is only used for virtual currency.
full member
Activity: 282
Merit: 100
February 26, 2018, 10:35:16 PM
#40
Something so volatile will never be accepted as national currency.
jr. member
Activity: 84
Merit: 5
February 26, 2018, 10:34:33 PM
#39
Could it be possible that in the future there are countries that use bitcoin as the national currency??
That would be good but I think it will not happen, Maybe they will only accept bitcoin as a digital currency that can be use due to the unstoppable rise of new technology. It cant be a national currency because it doesn't have a permanent store value and this cannot be controlled by gov't since its anonymous. How will the uneducated  use these if ever. Unlike the paper money which fits to any type of individuals. Every govt wants to control the currency but they cant control the Bitcoin,which is the best thing about BTC.
newbie
Activity: 252
Merit: 0
February 26, 2018, 10:20:59 PM
#38
In my view, countries may create their own tokens, which have a lot of volatility but will not use bitcoin as their currency.
jr. member
Activity: 407
Merit: 3
February 26, 2018, 10:10:28 PM
#37
No way , its not gonna happen. Governments would not take any chances to take bitcoin as national currency. Bitcoin doesn't meet any basic requirements as a national currency.
member
Activity: 560
Merit: 10
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February 26, 2018, 10:06:33 PM
#36
Could it be possible that in the future there are countries that use bitcoin as the national currency??

It is possible because bitcoin is used by countries around the world, but not all.
there are still some country doesn't accept bitcoin and other cryptocurrency.
member
Activity: 728
Merit: 14
February 26, 2018, 07:56:05 PM
#35
Could it be possible that in the future there are countries that use bitcoin as the national currency??

at the moment i think no. the prize of bitcoin is to unstable and it is to risky to do that. no governor will risk the country with an unstable bitcoin. but maybe in some years this could be possible, but only when bitcoin have a stable prize for a long time and maybe more support in the whole world. but this are only my thoughts about it. of course, i do not know if it really will happen, but dreaming is sometimes allowed.
newbie
Activity: 182
Merit: 0
February 26, 2018, 07:55:37 PM
#34
Ofcourse but not literal concept. It can be national currency if the citizens of one nation agreed to implement this kind of system majority wins. Also I doubt it coz bitcoin value is more expensive. Not all people is capable to buy even one btc.
full member
Activity: 1330
Merit: 147
February 26, 2018, 07:54:29 PM
#33
Could it be possible that in the future there are countries that use bitcoin as the national currency??
I don't think that will ever happen, remembering bitcoin can not be set by one party. To become a national currency the government needs to keep an eye on, it's necessary to interfere in various transactions of bitcoin. While bitcoin has a peer to peer system, the government can not become a third party for transaction affairs. But most likely some countries will make their own virtual currency, such as digital dollars. Which has the great power of the decentralized system is the user, not a party so bitcoin can not be manipulated.
newbie
Activity: 28
Merit: 0
February 26, 2018, 07:31:38 PM
#32
I think it is likely that eventually countries will issue their own crypto currencies, augmenting electronic cash.

On another note, check out the ICO for RLCoin, an enterprise solution for loyalty: www.rlcoin.io.  The product has traction with 250 clients and partners in Europe and Asia.
member
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February 26, 2018, 06:20:30 PM
#31
Could it be possible that in the future there are countries that use bitcoin as the national currency??

I think not, a national currency should be keep can be used in any situation and as we know bitcoin as a digital currrency for now can be used if online. It will be a big trouble if the country that used bitcoin have a problem at internet or network matter
full member
Activity: 812
Merit: 100
February 26, 2018, 06:19:08 PM
#30
Bitcoin could not become a cryptocurrency of any state. This is because its price is highly unstable making it harder for people to actually use it as a currency. Imagine this, you buy something from the grocery that it 0.0003 bitcoins a few minutes ago and then when you check the counter it become 0.0004 bitcoins. Do you think that kind of situation can be convenient and most of all beneficial to the uaer? I don't think so. So unless people finds out a way to banish the high volatility rate of bitcoin it's better for us to stick around with bitcoin being an asset for now.
A national currency may not have anything for it to survive on. Bitcoin can be used for a lot of things but what makes a person who has no idea of what Bitcoin is want to have any for their products?

bitcoin only gained popularity because the national currencies cause economic problems in the developed world, you cant use "bitcoin" as a state currency,
very difficult to accept the government if using bitcoin to become the currency of the country because it will surely beat the country's money mara are getting left out and do not have good price. so I thought it would be impossible.
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