Bitcoin cannot be a global currency - page 17.

ngalamunan

full member

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Quote from: Ezenwanyi on August 05, 2018, 02:55:08 PM

I believe bitcoin would assume the position of a global currency in the nearest future.
Though this can only happen, if the current blockchain ecosystem is improved on ....in the area of fast transation confirmation etc

we can't predict it all, because all of that requires a long process, so guessing it is very difficult. we have to just wait for the development in the future, is it still like this or different.

Ezenwanyi

copper member

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I believe bitcoin would assume the position of a global currency in the nearest future.
Though this can only happen, if the current blockchain ecosystem is improved on ....in the area of fast transation confirmation etc

azwa84

newbie

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at the very beginning after all the crises, bitcoin was created in order that he can ensure the world security of saving money! people are tired of all crises and from the fact that they constantly print new money! Bitcoin is a new currency that will not only save but also increase your money!

Windmoney@1

newbie

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I don't believe bitcoin can't be a global currency.... Cryptocurrency my turn out to be World digital money

SecureCryptoPayments

newbie

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Quote from: South Park on May 27, 2018, 10:13:31 AM

Quote from: Pilotone on May 25, 2018, 01:44:53 PM

My opinion is that the technology itself blockade will receive a very large application in our world, but bitcoin will not become a world currency. Countries and the state can not allow this.

You are mistaken this is not really about if governments are going to allow bitcoin to become a global currency, this is about the people, are the people going to adopt bitcoin in enough numbers to make it a global currency? No one really knows the answer to that question but if I were to bet I'll probably say that is the most likely outcome.

There is some truth in your words. Considering that there are still disputes in the use of fiat money in the EU countries. The same contradictions can arise with the crypto currency

SecureCryptoPayments

newbie

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Quote from: Tyrantt on March 24, 2018, 06:29:04 PM

Quote from: BitHodler on March 24, 2018, 03:45:03 PM

Quote from: BillCoin on March 24, 2018, 01:52:06 PM

but it can replace the current internet payment systems, instead of paying with credit card over the internet that will also require you to reveal your credit card details, you can play anonymously with bitcoin.

I highly doubt that. People nowadays are too dependent on credit to sustain themselves, so the fiat related payment infrastructure will remain pretty much for ever and beyond, thanks to this shitty system.

Also, in order to spend Bitcoin, you have to buy it first, and let that buying happen through centralized services, which basically means that the anonymity you're referring to doesn't exist.

Mixing could be an option, but mixing services are still a niche in current days, and as long as that doesn't change, people will not be able to obtain even a remote form of anonymity. Blockchain = big brother is watching you.

Credit cards and fiat money will never disappear, maybe will just change forms. Bitcoin has shown the world the potential of crypto-currency and blockchain but it just might as well remain an investment asset.
That's why we see that, more and more, countries and various private businesses are developing their own crypto. That's unleast how I see the future of "future" alt-coins. They'd be developed as a kind of "coupons" that you an cash in for various cost deductions or whatnot, therefore that coin will remain within the business.

That we can predict that bitcoin will still be used globally. But do you still assume that each individual country will want to issue its own crypto currency?

karman383

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I agree with you that bitcoin may never be a major global currency, only as an investment asset and transaction tool in online spending rather than paying with a credit card through the internet which also requires you to reveal your own identity.
Fiat just wants to help you to avoid fraudsters who are high enough considering all the scams that run on the cryptocurrency market.

JPage

full member

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Of course, I think this is obvious and we are not having any doubt on that, only depressed newbies who are not educated at all I can think the Bitcoin is ready to be a global currency or a payment method, it is too early.

Ajadey4

newbie

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You are right, Super powers like America and China could block it as it would affect their own national currency. The strength of a nations currency is equally important in the struggle for power. Super power own key to it or not.

people123

newbie

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Merit: 0

Bitcoin as of now is a world money from the position that is utilized by individuals at relatively every landmass on the planet. But since of the reasons that you have portrayed it will never be standard cash or authority money in some nation. In any case, from my perspective that wasn't the objective and it shouldn't be the objective of bitcoin.

Additionally the way that through web association bitcoin is accessible everywhere throughout the world makes it worldwide and offers chance to all countries on the planet to utilize it and that is the excellence of bitcoin.

jpnl0004

newbie

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I think there is every possibility for bitcoin to be a global currency and this can happen when the government decide to legalize it in if not that then its not possible.So i still believe it can be

FlightyPouch

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Quote from: mandoseran on August 05, 2018, 08:35:36 AM

yes i really agree. according to me it is not suitable as a currency i would rather consider bitcoin as a digital asset. in my country also bitcoin is not considered a currency but as a digital asset

Well, Bitcoin is volatile and these days, there are a lot of hackers and scammers than the total of sites and informations you can trust online. People on our country look at Bitcoin as a scam since there are a lot of scam companies, ponzi schemes that are just pointing the problem to Bitcoin and make it an escape route to take their money. It is not suitable, but there will be a crypto currency that will be suitable.

tanginamoo

full member

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I think it is impossible for now but who knows maybe in the near future it maybe it may become true. I said that it is impossible for now because there are some countries who already banned the use of bitcoin.

fidelium1

jr. member

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Merit: 1

I think we will appreciate bitcoin better if will look at it from the viewpoint of blockchain technology, technology has turned out to be the best thing that has happened to mankind in recently years, and with the way bitcoin is going in the exploitation of the possibilities of technology, it has the potential of becoming a global currency.

yourialfa

sr. member

Activity: 339

Merit: 250

I think that over time bitcoin can become a global currency. Because bitcoin is indeed easy to use and can be used for transactions between countries. This is certainly very easy. And bitcoin itself only requires time to be accepted in every country. You must believe that bitcoin will be used by many people in each country and will become a global currency for transactions.

artichandra

newbie

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It will be hard to make bitcoin as global currency for now, because it's fluctuation make people thinking twice when they want to do transaction. it is better to make bitcoin prices more stable if people want bitcoin to be global currency

kapitansugat

jr. member

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Yes. It can't be, unless all countries would permit to be so.

djcounter

jr. member

Activity: 163

Merit: 1

Bitcoin for being able to be popular like Fiat currencies,
needs to be stable rather than sharply changed.

Rustandy

newbie

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Because it does not have an underlying basis. This is different from the money that is generally used today. So the currency or currency is backed up by trust. What is it for? Trust in a country's economy. In short, if the economy improves, a country's currency strengthens. This is very different from bitcoin which has no basis for judgment. That is not to mention its very volatile value so that bitcoin does not qualify as a currency.

mandoseran

newbie

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Merit: 0

yes i really agree. according to me it is not suitable as a currency i would rather consider bitcoin as a digital asset. in my country also bitcoin is not considered a currency but as a digital asset

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