Topic: Bitcoin cannot be a global currency (Read 5054 times)
I think that I would agree with you and I think that btc can be a global currency because it is the best currency ever and I believe that it is the best coin in the market today and it will remain like this
Yes I strongly believe that bitcoin can be accepted globaly the world’s first decentralized currency is now form of payment in dozens of countries around the world. As more countries begin to adopt this innovative technology, it’s clear that Bitcoin has the potential to become the new global currency not tied to a specific country or central bank
No hard feelings, bitcoin is already accessible and can be use anywhere in the world, so I don't know how you understand the word global
My opinion is that the technology itself blockade will acquire a completely massive software in our international, how never bitcoin will now not emergency as a world foreign money. international location and the kingdom can not permit this.
Of course, Bitcoin can be a world currency. However, Bitcoin is not valid in all countries. But seeing the popularity of Bitcoin,it will be the world currency for a time.Only the bitcoin has been known in all the countries, which could not make any other coins.Everywhere they are Bitcoin,world Currency Will be.
Bitcoin has potential to become a global currency but their are many thing which creat problems for bitcoin to become a global currency. First of all it is a decentralised digital currency which means it doesn't under control of any kind of authority or government. And some government doesn't like this criteria of bitcoin. Bitcoin user does not pay tax to their government because of its digital nature and this is one of the main reasons behind this topic. It is highly volatile in nature and it does not has a strong base. So these thing stop bitcoin to become a global currency. I also think that the emergence of Bitcoin is a revolution, but now many people use Bitcoin as a commodity to buy and sell, which will make Bitcoin change its original meaning!
Indeed, bitcoin can be a global currency. Bitcoin getting more popular right now. If bitcoin recognized and regulate as currency, i am believe bitcoin accepted by every merchant and people in the world because its more safe and secure.
"They are the new army, the new bureaucracy, the new emperor. Are these people trustworthy?"
This is exactly this, we will never trust anyone.
But there is a truth like bitcoin.
In the best way we must really win this, so that we can protect ourselves against the people we can not trust.
This is exactly this, we will never trust anyone.
But there is a truth like bitcoin.
In the best way we must really win this, so that we can protect ourselves against the people we can not trust.
you are saying right. it seems quiet impossible bitcoin tto to being global currency. because many several country government thinks its illegal. and they banning bitcoin. so its taough to be global currency
For me, nothing is impossible, it may take longer but I think it cam be global currency. If bitcoin starts to develop, there’s no doubt that it will grow more and a lot people will trust it.
Hello guys, bitcoin cannot be a global currency because the real issue is the cost of running Bitcoin’s blockchain network. Currently a single Bitcoin transaction requires the same amount of energy that is used to power your house - for a week. it's an absurd amount of electricity for just a single transaction. If the Bitcoin networks needs to handle transactions at the number and size the world economy requires of it, the electricity costs are going to be unbelievably high and impractical to support. The Bitcoin network can’t currently handle transactions from the billions of people participating in the global market.
you are saying right. it seems quiet impossible bitcoin tto to being global currency. because many several country government thinks its illegal. and they banning bitcoin. so its taough to be global currency
Of course, Bitcoin can be a world currency. However, Bitcoin is not valid in all countries. But seeing the popularity of Bitcoin,it will be the world currency for a time.Only the bitcoin has been known in all the countries, which could not make any other coins.Everywhere they are Bitcoin,world Currency Will be.
I agree with your opinion.bitcoin is largest online crypto market. this is popular currency.so i still believe bitcoin can be global currency. 
Technology believers believe that bitcoin is the mission of decentralization, the future of the world currency.
BTC just need, relative scarcity and the manufacturing cost, nature has the price, the price is the fluctuation, as long as access to the securitization in the human history of human use of the most profound institutional invention, the currency is likely to generate huge profits.
You have a lot of money and you have followers. With followers there is a crowd. The masses will naturally divide.
With differentiation, there is naturally a blank majority. Naturally, there are evil men who have been swindled. Nature has its center and leadership.
This is the history of bitcoin's journey along the way, which is why the BTC creator went to the center to turn the government against the pursuit of liberalism.
But on a philosophical basis, technologists are wrong.
The beginning of human birth is said to be monkeys. No government, no center. No money, no inflation. Government is not the product of power, but the government itself is the product of liberalism.
Because freedom must be evil, freedom itself creates chaos, and chaos leads to the pursuit of order, thus freedom produces power and bad power transition to good power.
In the world of BTC, new centralization has begun:
Global mining is concentrated in the hands of a few. The maintenance and development of bitcoin is concentrated in the hands of few digital farmers. The influence of virtual currency is concentrated in the hands of a few big v.
They are the new army, the new bureaucracy, the new emperor. Are these people trustworthy?
The emergence of BTC is a technological advance in the history of human currency. It makes up for the deficiency of the existing monetary system and should also promote the reform of the existing monetary system.
Like insurrection, it is either extinguished or assimilated into the long river of history.
Well, with that statement, I can bet as this coin can so return to the battle all the coins, although it is far from there and never left, so I will trust the coin and wait for his explosion. BTC just need, relative scarcity and the manufacturing cost, nature has the price, the price is the fluctuation, as long as access to the securitization in the human history of human use of the most profound institutional invention, the currency is likely to generate huge profits.
You have a lot of money and you have followers. With followers there is a crowd. The masses will naturally divide.
With differentiation, there is naturally a blank majority. Naturally, there are evil men who have been swindled. Nature has its center and leadership.
This is the history of bitcoin's journey along the way, which is why the BTC creator went to the center to turn the government against the pursuit of liberalism.
But on a philosophical basis, technologists are wrong.
The beginning of human birth is said to be monkeys. No government, no center. No money, no inflation. Government is not the product of power, but the government itself is the product of liberalism.
Because freedom must be evil, freedom itself creates chaos, and chaos leads to the pursuit of order, thus freedom produces power and bad power transition to good power.
In the world of BTC, new centralization has begun:
Global mining is concentrated in the hands of a few. The maintenance and development of bitcoin is concentrated in the hands of few digital farmers. The influence of virtual currency is concentrated in the hands of a few big v.
They are the new army, the new bureaucracy, the new emperor. Are these people trustworthy?
The emergence of BTC is a technological advance in the history of human currency. It makes up for the deficiency of the existing monetary system and should also promote the reform of the existing monetary system.
Like insurrection, it is either extinguished or assimilated into the long river of history.
I think it's very wrong. Even if opinions are taken care of, no one has supported this, my friend. The crypto sector should be about it that leads to the construction of the future. We spent the whole of our life and power.
Bitcoin can be global currency because it serves even better than traditional currencies when it comes to store of value. When it comes to traditional currencies like USD, CAD, they generally depreciate over time due to their inflationary nature. They almost fail to serve the purpose of store of value. While Bitcoin as it is limited to 21 million units, is expected to rise in it’s value due to its limited supply and increasing demand.
Futuristic predictions. Every effort of the true investors is to make Bitcoin the cryptocurrency of the world.
I also think that the emergence of Bitcoin is a revolution, but now many people use Bitcoin as a commodity to buy and sell, which will make Bitcoin change its original meaning!
Of course, Bitcoin can be a world currency. However, Bitcoin is not valid in all countries. But seeing the popularity of Bitcoin,it will be the world currency for a time.Only the bitcoin has been known in all the countries, which could not make any other coins.Everywhere they are Bitcoin,world Currency Will be.
I agree with your opinion.bitcoin is largest online crypto market. this is popular currency.so i still believe bitcoin can be global currency.
I think, for now it is not yet to be global currency, maybe in the future however if the bitcoin industry would be so much introduce to all people and grows its popularity, maybe by then it would be use as a global currency.
I agree with you. Bitcoin is developing more and more and it already accepted in some countries but to become global currency, i think it will not happen
analysts cite an analysis according to which bitcoin can not practically become a global currency, mainly because of high costs.
They begin with an estimate of the money supply in the world, which by 2028 will grow to 210 trillion dol. By this time, 20.367 million bitcoins of 21 million will be produced. Based on the money supply, each bitcoin can cost about 10 million dollars by that time.
Secondly, in the future, operating costs for bitcoin mining will grow to 60% of the proceeds from mining - and will be such that $ 15 million will be spent on generating the unit. Since each block contains about 1500 transactions, each transaction will cost about $ 10,400. With an average price of 11 cents per kilowatt-hour, the energy consumption per transaction will be about 101,114 kWh.
In 2015, 433 billion electronic transactions were registered. If the number of such transactions continues to grow at a constant rate of 10 percent per year, this number will reach 1.5 trillion by 2028.
If BTC is expected to be the main currency of circulation for all of these transactions, then at an estimated energy cost of 1011 kWh per transaction, it will require an energy of about 1,511,484 terawatt hours, which can not be achieved with the most powerful nuclear power plants assembled together. The largest nuclear power plant in the US generates only 34 terawatts of power. For such reasons, Bitcoin will not be a global currency.
They begin with an estimate of the money supply in the world, which by 2028 will grow to 210 trillion dol. By this time, 20.367 million bitcoins of 21 million will be produced. Based on the money supply, each bitcoin can cost about 10 million dollars by that time.
Secondly, in the future, operating costs for bitcoin mining will grow to 60% of the proceeds from mining - and will be such that $ 15 million will be spent on generating the unit. Since each block contains about 1500 transactions, each transaction will cost about $ 10,400. With an average price of 11 cents per kilowatt-hour, the energy consumption per transaction will be about 101,114 kWh.
In 2015, 433 billion electronic transactions were registered. If the number of such transactions continues to grow at a constant rate of 10 percent per year, this number will reach 1.5 trillion by 2028.
If BTC is expected to be the main currency of circulation for all of these transactions, then at an estimated energy cost of 1011 kWh per transaction, it will require an energy of about 1,511,484 terawatt hours, which can not be achieved with the most powerful nuclear power plants assembled together. The largest nuclear power plant in the US generates only 34 terawatts of power. For such reasons, Bitcoin will not be a global currency.
Jump to: