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Topic: Bitcoin is Becoming a Global Currency - page 107. (Read 226404 times)

legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
June 16, 2016, 08:00:41 PM
It's funny because I was rather thinking that the lower-income countries would be the ones pushing for bitcoin. They have more economical problems which could be solved by using bitcoin (inflation, unsecure banking companies and so on), so it would make sense that they have more incent to use it.

Really? Lower income countries have economic problems partly because of vast amounts of tax evasion. Without adequate tax collection, how are poor countries going to pay for public education, better infrastructure, public safety, and a reliable legal system? Without those things, they will stay poor.

A lot of people want to use cryptocurrencies precisely for tax evasion. Governments don't want cryptocurrencies partly because they don't want to enable tax evasion. Tax collection requires being able to identify people and their transactions. Isn't that the opposite of what cryptocurrencies are about? And I don't see how the expansionary supply of bitcoin will reduce inflation.

most of these 'lower income' countries need bitcoin for protection from rampantly corrupt governments ... in such cases it is your duty to starve them of taxes which are levied criminally when there is no accounting for where the money gets spent/wasted
newbie
Activity: 42
Merit: 0
June 16, 2016, 07:41:41 PM
It's funny because I was rather thinking that the lower-income countries would be the ones pushing for bitcoin. They have more economical problems which could be solved by using bitcoin (inflation, unsecure banking companies and so on), so it would make sense that they have more incent to use it.

Really? Lower income countries have economic problems partly because of vast amounts of tax evasion. Without adequate tax collection, how are poor countries going to pay for public education, better infrastructure, public safety, and a reliable legal system? Without those things, they will stay poor.

A lot of people want to use cryptocurrencies precisely for tax evasion. Governments don't want cryptocurrencies partly because they don't want to enable tax evasion. Tax collection requires being able to identify people and their transactions. Isn't that the opposite of what cryptocurrencies are about? And I don't see how the expansionary supply of bitcoin will reduce inflation.
hero member
Activity: 616
Merit: 503
★Bitvest.io★ Play Plinko or Invest!
June 16, 2016, 06:44:06 PM
Yes I also think that bitcoin is becoming a worldwide currency and more people are interested to know about it, how they can treat it.
You can already say that the bitcoin is global currency because if you want to make use of it you will only have to have access to the internet. Everyone can make use of it so you could say that it is a global currency.


It is a good thing that people has started seeing the goodness of the digital currency. I always say that once the superpower countries or the first world countries have accepted the bitcoins, it will be easier to roll out to the rest of the world. I do think the reason why it has been a challenges for the growth is because at first bitcoin was tainted to have been used by criminals. I also hope that the coin will be the new mode of currency in coming years.
It's funny because I was rather thinking that the lower-income countries would be the ones pushing for bitcoin. They have more economical problems which could be solved by using bitcoin (inflation, unsecure banking companies and so on), so it would make sense that they have more incent to use it.
sr. member
Activity: 434
Merit: 250
June 16, 2016, 11:07:00 AM
Yes I also think that bitcoin is becoming a worldwide currency and more people are interested to know about it, how they can treat it.
You can already say that the bitcoin is global currency because if you want to make use of it you will only have to have access to the internet. Everyone can make use of it so you could say that it is a global currency.


It is a good thing that people has started seeing the goodness of the digital currency. I always say that once the superpower countries or the first world countries have accepted the bitcoins, it will be easier to roll out to the rest of the world. I do think the reason why it has been a challenges for the growth is because at first bitcoin was tainted to have been used by criminals. I also hope that the coin will be the new mode of currency in coming years.
hero member
Activity: 575
Merit: 500
June 16, 2016, 10:44:20 AM
I think that bitcoin is already a Global Currency because many use it worldwide. May it be in terms of recharging their airtime on their smartphones, trading into fiat, or buying many things.

No currently it is not a global currency, it has to pass a lot of phases to become a global currency and for becoming global currency it has to get the support of governments especially of major powers and banks etc, to be involved in world major businesses.

Actually it can be accessed globally online. That is the difference. Actually I dont really know if I will treat it as a currency or a commodity. I think it is both just different in how you use it.

Majority of people views it as a both currency and also as an investment, but the fact is people don't use it as a currency, mostly they treat is an investment.

A number of people are using it as a currency, there are only newbies who are using this currency as investment, I think when they spend sometime in there they will understand it.
sr. member
Activity: 406
Merit: 250
June 16, 2016, 08:56:36 AM
Yes I also think that bitcoin is becoming a worldwide currency and more people are interested to know about it, how they can treat it.
You can already say that the bitcoin is global currency because if you want to make use of it you will only have to have access to the internet. Everyone can make use of it so you could say that it is a global currency.

not everyone,what about those that have no connection, how can they use bitcoin? bitcoin is not a global currency yet, it need to be accessible by everyone on the planet
hero member
Activity: 616
Merit: 500
June 16, 2016, 08:54:12 AM
Yes I also think that bitcoin is becoming a worldwide currency and more people are interested to know about it, how they can treat it.
You can already say that the bitcoin is global currency because if you want to make use of it you will only have to have access to the internet. Everyone can make use of it so you could say that it is a global currency.
hero member
Activity: 490
Merit: 500
June 16, 2016, 04:51:02 AM
It is true that bitcoin have begun to be accepted by several countries and stock markets. But in some of the countries like nepal it is very hard to deal with paypal and other payment processor till now. Bitcoin is also not in so much of light over here as currency but for developer like me it has become a good way to accept payment rather than paypal due to no restrictions for my country like they have in paypal. Happy to see how bitcoin is working these days.
legendary
Activity: 1008
Merit: 1000
June 15, 2016, 06:26:07 AM
I think that bitcoin is already a Global Currency because many use it worldwide. May it be in terms of recharging their airtime on their smartphones, trading into fiat, or buying many things.

No currently it is not a global currency, it has to pass a lot of phases to become a global currency and for becoming global currency it has to get the support of governments especially of major powers and banks etc, to be involved in world major businesses.

Actually it can be accessed globally online. That is the difference. Actually I dont really know if I will treat it as a currency or a commodity. I think it is both just different in how you use it.

Majority of people views it as a both currency and also as an investment, but the fact is people don't use it as a currency, mostly they treat is an investment.
legendary
Activity: 2940
Merit: 1083
June 15, 2016, 06:08:24 AM
I think that bitcoin is already a Global Currency because many use it worldwide. May it be in terms of recharging their airtime on their smartphones, trading into fiat, or buying many things.

No currently it is not a global currency, it has to pass a lot of phases to become a global currency and for becoming global currency it has to get the support of governments especially of major powers and banks etc, to be involved in world major businesses.

Actually it can be accessed globally online. That is the difference. Actually I dont really know if I will treat it as a currency or a commodity. I think it is both just different in how you use it.
sr. member
Activity: 322
Merit: 250
June 15, 2016, 03:18:57 AM
Bitcoin is becoming more popular and many people are now using Bitcoin and that is really nice for the currency because it can maybe the future payment method.
And you can also see that it becomes more used and acceptable so that is perfect.
sr. member
Activity: 406
Merit: 250
June 15, 2016, 02:29:04 AM
Bitcoin is definitely virtual currency and it is definitely an interesting concept. But the issue is if you look at the general economics and currency specifically, currencies are backed up by governments, they are backed up by gold, silver, other infrastructures. The problem with Bitcoin is that nothing is backing it up other than trust between its users. So I don't think bitcoin will become a global currency.
I think that you somewhat can call it a global currency because if you have internet then you can make use of it. Not everyone is making use of it so in order to become a real global currency more people have to make use of it.
legendary
Activity: 3920
Merit: 2349
Eadem mutata resurgo
June 15, 2016, 01:22:23 AM
Sure, among select groups bitcoin will gain in popularity. For example, gamblers, the digerati, and some tax evaders. In the world economy, bitcoin will be the equivalent of a currency of a very small country. But bitcoin doesn't offer an advantage for the extreme majority of people.

"The growth of the Internet will slow drastically, as the flaw in ‘Metcalfe’s law’—which states that the number of potential connections in a network is proportional to the square of the number of participants—becomes apparent: most people have nothing to say to each other! By 2005 or so, it will become clear that the Internet’s impact on the economy has been no greater than the fax machine’s." - Krugman
full member
Activity: 252
Merit: 100
June 14, 2016, 08:33:12 PM
I think that bitcoin is already a Global Currency because many use it worldwide. May it be in terms of recharging their airtime on their smartphones, trading into fiat, or buying many things.
Yup. What I would like to see as the next step for Bitcoin would be the awesome ability to just live on it. So paying the rent directly with it, buying food directly, and paying utilities. Then people start working for btc Grin
full member
Activity: 899
Merit: 101
June 14, 2016, 08:29:32 PM
i think bitcoin is the best currency in the world . it's the international currency . maybe is the best currency from all galaxy  Cheesy
sr. member
Activity: 476
Merit: 250
June 14, 2016, 08:29:19 PM
Yes there is a chance it will a globally currency but it will be a long term, right now it will not happen and in the next 5 years also not.
It first needs to gain a lot more popularity!
hero member
Activity: 644
Merit: 500
June 14, 2016, 08:22:21 PM
I think that bitcoin is already a Global Currency because many use it worldwide. May it be in terms of recharging their airtime on their smartphones, trading into fiat, or buying many things.

No currently it is not a global currency, it has to pass a lot of phases to become a global currency and for becoming global currency it has to get the support of governments especially of major powers and banks etc, to be involved in world major businesses.


But bitcoin is becoming a real currency in use wise , I really have no doubts about that to be honest I think it almost already is.
A lot of users globally are already using it and it only needs to get bigger and recognized to be this.
newbie
Activity: 42
Merit: 0
June 14, 2016, 07:38:18 PM
Bitcoin is already a global currency. But it's useful only to an extremely tiny minority. The global economy produces the equivalent of about $78 trillion per year. It's hard to think that bitcoins worth only $9 billion can have a significant role.

The largest retailer that accepts Bitcoin is Overstock.com. The most recent information I found is that only .25% of Overstock's sales used bitcoin. Then when bitcoin dropped in value, Overstock lost money because of the devaluation. That very public example must be making other retailers doubt whether they should accept bitcoin.

Sure, among select groups bitcoin will gain in popularity. For example, gamblers, the digerati, and some tax evaders. In the world economy, bitcoin will be the equivalent of a currency of a very small country. But bitcoin doesn't offer an advantage for the extreme majority of people.
hero member
Activity: 658
Merit: 500
June 14, 2016, 06:05:31 PM
Bitcoin IS a global currency or a currency without nation!
So no one can stop this evolution!
yeah it allows bitcoin for use in many countries because bitcoin is not the local currency of any country. so that bitcoin will be accepted in the society of the country. but the problem is the legalization of each country? is it time will fix it all?
legendary
Activity: 1008
Merit: 1010
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June 12, 2016, 08:51:34 AM
I think that bitcoin is already a Global Currency because many use it worldwide. May it be in terms of recharging their airtime on their smartphones, trading into fiat, or buying many things.

You are right. Some think it is just for USA dollars. But many have been using in different sides of the world. I guess they are just stuck in their countries news. Better get some global news also.
bitcoin is not used by one country alone. but in many parts of the world bitcoin have a user that spans the globe. although the user is still quite a bit. but bitcoin has been used by various communities in the world. it proves that bitcoin valuable in many countries. bitcoin has become a global currency
thats true and in the near future bitcoin will be used by many people of the world as there will be a mass adoption that will allow all countries to switch from regular money to bitcoins

i hope that bitcoins will be the only currency of the world and that i will be able to use it on daily basis as i think that it is the best money that have ever been created and it will remain like that for a while
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