According to my point of view Bitcoin will never be one and only global currency.
Reasons for my opinion is because the governments in the world will never let go of fiat currency as they need to maintain their fiscal policy without any barrier. If there is bitcoin, they won't be able to control in order to run their fiscal policy like fiat money. So that even there is bitcoin, fiat money will lead and maintain its place. Bitcoin will be more popular and become available in every place in the world, but will not be the global currency.
But who knows what happens in the future. Lets wait and see
Topic: Bitcoin cannot be a global currency - page 20. (Read 5119 times)
In general, Bitcoin has many of the same characteristics and operating mechanisms in a financially similar economy. The government can hardly interfere with the excavation, exploitation, and use of Bitcoin. Bitcoin is not "metamorphic", easy to exchange, stable in available quantity, intrinsic value does not change much between countries.
Bitcoin is like gold, if the world uses Bitcoin directly in its payment transactions, then the finances will not have inflation. By the amount of Bitcoin as well as gold is fixed, they are not like paper money, which is "printed" in the way by the government is allowed to decide, issued.
In each country, money is no longer based on the gold standard. But the gold standard still exists in international payments. The world currency is gold, there is not yet anything else that can replace gold in the global monetary function. In international trade, people use foreign currency to account and use international payment facilities to clear, not use gold. However, the condition of "gold guarantee", must still determine the gold value of the currency.
So, using Bitcoin as a common currency means of international payment, there is no need to "guarantee gold", because Bitcoin is now equivalent to gold. And the use of Bitcoin as the currency for the whole world makes businesses no longer have to face the risk of exchange rates, transaction costs also dropped to very low.
At present, even industry experts are arguing that Bitcoin is a legitimate currency. So what actually happens in the future will be the best answer.
Bitcoin is like gold, if the world uses Bitcoin directly in its payment transactions, then the finances will not have inflation. By the amount of Bitcoin as well as gold is fixed, they are not like paper money, which is "printed" in the way by the government is allowed to decide, issued.
In each country, money is no longer based on the gold standard. But the gold standard still exists in international payments. The world currency is gold, there is not yet anything else that can replace gold in the global monetary function. In international trade, people use foreign currency to account and use international payment facilities to clear, not use gold. However, the condition of "gold guarantee", must still determine the gold value of the currency.
So, using Bitcoin as a common currency means of international payment, there is no need to "guarantee gold", because Bitcoin is now equivalent to gold. And the use of Bitcoin as the currency for the whole world makes businesses no longer have to face the risk of exchange rates, transaction costs also dropped to very low.
At present, even industry experts are arguing that Bitcoin is a legitimate currency. So what actually happens in the future will be the best answer.
Bitcoin day by day eran more to more popularity. so we can hope Of course, Bitcoin can be a world currency.
Obviously, Bitcoin can be a world cash. Be that as it may, Bitcoin isn't legitimate in all nations. In any case, seeing the prevalence of Bitcoin,it will be the world money for a time.Only the bitcoin has been known in every one of the nations, which couldn't make some other coins.Everywhere they are Bitcoin,world Currency Will be. I concur with you that bitcoin will most likely will never be the primary worldwide cash, however it can supplant the present web installment frameworks, rather than paying with Visa over the web that will likewise expect you to uncover your charge card subtle elements, you can play secretly with bitcoin. Fiat shields subjects from them-self, if normal individuals will begin utilizing bitcoin every day, the odds of them to get misled is truly high considering every one of the tricks that are running on the digital currencies advertise.
Unregulated market is extremely hazardous for a few people, and that is the thing that fiat comes to shield. Bitcoin is decentralized cash brother until the point that it makes the bitcon as a legitimate cash. You will discover the bitcoin cost to achieve in excess of 50k USD in 2020. That time you will see the bitcoin has been received by the numerous nations buddy.
With the goal that you itself bitcoin is worldwide cash. On the off chance that you get into the Japan air terminal, even now itself you can get to the bitcoin ATMs at there and can legitimately utilized. I profoundly question that. Individuals these days are excessively subject to credit, making it impossible to support themselves, so the fiat related installment framework will stay essentially for ever and past, on account of this shitty framework.
Likewise, keeping in mind the end goal to spend Bitcoin, you need to get it first, and let that purchasing occur through unified administrations, which essentially implies that the obscurity you're alluding to doesn't exist.
Blending could be an alternative, however blending administrations are as yet a specialty in current days, and as long as that doesn't change, individuals won't have the capacity to get even a remote type of namelessness. Blockchain = enormous sibling is watching you.
Unregulated market is extremely hazardous for a few people, and that is the thing that fiat comes to shield. Bitcoin is decentralized cash brother until the point that it makes the bitcon as a legitimate cash. You will discover the bitcoin cost to achieve in excess of 50k USD in 2020. That time you will see the bitcoin has been received by the numerous nations buddy.
With the goal that you itself bitcoin is worldwide cash. On the off chance that you get into the Japan air terminal, even now itself you can get to the bitcoin ATMs at there and can legitimately utilized. I profoundly question that. Individuals these days are excessively subject to credit, making it impossible to support themselves, so the fiat related installment framework will stay essentially for ever and past, on account of this shitty framework.
Likewise, keeping in mind the end goal to spend Bitcoin, you need to get it first, and let that purchasing occur through unified administrations, which essentially implies that the obscurity you're alluding to doesn't exist.
Blending could be an alternative, however blending administrations are as yet a specialty in current days, and as long as that doesn't change, individuals won't have the capacity to get even a remote type of namelessness. Blockchain = enormous sibling is watching you.
Internet is still not everywhere. Bitcoin is still not in ATMs and banks. So, we have a lot of stuff to do...
You are also right. Different countries defferent area has no internet connection. So they havn't any knowledge about bitcoin. Even few country still not accepted bitcoin officially. So I think it is impossible.When world internet infrastructure getting wider, i am believe peoples having knowledge about bitcoin and start using it. I am believe peoples will accepting bitcoin as currency when they have internet connection because with bitcoin, we can make transaction with others all around the world with more easily and cheaper
it is possible to become a global currency if all countries regulate the bitcoin it will be used to worldwide, for now, fiat money or the money of government has a power to use.
Yes it cannot be. There are some reasons to say it cannot be. Some people might say that yes it can be a global currency but they are not considering those countries who've banned the bitcoin without knowing that it can change their countries and make it more economic. One of the main reason is that not all people in the world know bitcoin as of today only some countries know about bitcoin.
Regardless of how famous bitcoin may progress toward becoming, it will never be the world cash. Its a free and decentralized coin. The legislature won't let that happen in light of the fact that each court current is a symbolization of what the nations is and utilizing bitcoin as the world cash will stripe away this esteem. In any case, in the event that it is bitcoin getting to be well known; it will definitely be and it will for the most part be utilized on the web.
I agree with you that bitcoin will probably will never be the main global currency, 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.
Fiat defends citizens from them-self, if regular people will start using bitcoin on a daily basis, the chances of them to get scammed is pretty high considering all the scams that are running on the cryptocurrencies market.
Unregulated market is really dangerous for some people, and that's what fiat comes to defend.
lol OP did not mentioned that bitcoin will become the main global currency it simply says CANNOT BE GLOBAL CURRENCY Fiat defends citizens from them-self, if regular people will start using bitcoin on a daily basis, the chances of them to get scammed is pretty high considering all the scams that are running on the cryptocurrencies market.
Unregulated market is really dangerous for some people, and that's what fiat comes to defend.
things that totally wrong,because bitcoin now is worldwide currency since the whole universe has been using this ,and i believe that in time this will become the Main currency and no one can take it from me
very likely if considered as a common currency, bitcoin does not have a founder and even the country that gave birth to it, this is a big problem if applied as currency sovereignty, but if it is applied like the euro currency or even as a commodity gold asset, it is very likely.
But the current trend is that governments try to eliminate the intrinsic value of currencies in bitcoin and just want to recognize them as stock assets.
But the current trend is that governments try to eliminate the intrinsic value of currencies in bitcoin and just want to recognize them as stock assets.
In my opinion.. With the way bitcoin value drastically rise and drop it will be hard for everyone if it will become a global currency. Imagine the amount of money the used to buy you a chicken meal everyday can drop its value and just buy you fries tomorrow
Internet is still not everywhere. Bitcoin is still not in ATMs and banks. So, we have a lot of stuff to do...
You are also right. Different countries defferent area has no internet connection. So they havn't any knowledge about bitcoin. Even few country still not accepted bitcoin officially. So I think it is impossible.
Indeed, Bitcoin cannot be a global currency, why is it like that? the answer is because the state sitap already has different currency values, so bitcoin will not be a global currency. continue not all countries legalize bitcoin.
Bitcoin is currently considered a kind of asset, not currency. However, in the future, Bitcoin is likely to be a new currency in the world. The evidence is that many companies now start accepting Bitcoin in payment. I believe in the future it will be accepted by everyone.
Nowadays interntional currency is the dollar, of course to replace the dollar is impossible as long as the USA is still a super power country, bitcoin will always be an unpopular choice because the USA will do everything to make the dollar the first choice.
we can say for sure about now but in the future it is. looking at the popularity of bitcoin now it is acceptable that its future will be great though. let us all wait on it. government and other institutions might not have been interested now but I think there is the likelihood of them accepting is somewhere along the line. am sure for some time to come it would be accepted
In my view, the bitcoin will be the world currency depending on how many Country which accept the bitcoin as a payment. So, it means that it depends on the community or Us. You can imagine when all of people in the world accepting bitcoin as a currency, so we don't need Money exchanger when we go traveling, and also we don't need bank to store our Money with a fee every month.
I think bitcoin is already a global currency, and it's only a matter of time before central banks start accumulating it for national security reasons. Mining centralization is certainly am issue that will hopefully be addressed by the community and developers.
yes maybe now it can't be global currency because some countries still haven't legalized bitcoin. maybe slowly some countries will start implementing digital money in the future. we never know what will happen in the future.
exactly. I agree with you. Although bitcoin is not considered a global currency yet, many countries still do not accept bitcoin. But in the future there are many things we can not predict
Indeed, Bitcoin cannot be a global currency, why is it like that? the answer is because the state sitap already has different currency values, so bitcoin will not be a global currency. continue not all countries legalize bitcoin.
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.
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.
As of now it seems impossible. But in my opinion, I believe it may happen. Though it will take a long time. Due to its volatility and illegal issues involved, it blocks the way for the cryptocurrency to be accepted wordwide. I believe we users should be the one who helps bitcoin to be accepted by all countries. Well again this is a matter of perception. More forums and making part of the schools curriculum helps bitcoin taking its steps towards future.
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