Bitcoin is Becoming a Global Currency - page 116.

sk00t3r

full member

Activity: 192

Merit: 100

Quote from: marcus_of_augustus on March 28, 2014, 04:10:58 AM

I'm not sure I would class some of those countries as 'major' ... but there is a general sense now that bitcoins are leaving the USA, and at an accelerating rate.

In September 2014 TeraExchange, LLC, received approval from the U.S.Commodity Futures Trading Commission "CFTC" to begin listing an over-the-counter swap product based on the price of a bitcoin. The CFTC swap product approval marks the first time a U.S. regulatory agency approved a bitcoin financial product.

bitlancr

hero member

Activity: 616

Merit: 500

No Bitcoin is already a global currency if you count the fact that everybody in the world can make use of it. But not everybody is making use of it so if you look at it that way it is not a global currency but it sure has the potential to become one.

dsyahputera

full member

Activity: 224

Merit: 100

Quote from: deisik on May 17, 2016, 03:53:02 AM

Quote from: dsyahputera on May 17, 2016, 03:39:04 AM

Quote from: opossum on May 16, 2016, 05:54:27 PM

Quote from: expert4knowledge on May 16, 2016, 04:30:26 PM

Quote from: avw1982 on May 16, 2016, 01:20:38 PM

I believe that Bitcoin can serve developing communities very well, especially those with a weak banking infrastructure. Now in Asia many are being empowered through the mobile phone so using bitcoin as a means of transaction can work very well in areas where mobile internet is the only way to go.

Yes, bitcoin can be considered as a plan B for the developing countries but not the main currency.

Bitcoin will always be used as an secondary currency in developing countries as very few people are aware about it, and it will long time to see many people using it.

Unfortunately there is no developing country that legalized Bitcoin, although many of its citizens who have benefited from this digital currency. I think it is better for a developing country to create its own digital currency (altcoin) as second currency instead of using Bitcoin, and that means Bitcoin will not be a global currency at all, but the Bitcoin concept can change the financial system of developing countries, IMHO.

And who would emit new money in this currency? If government, how would it be different from the currency they already have?

With the blockchain system, this secondary currency will be different with the primary currency. The government has authority over their own country, right?

peta4e

hero member

Activity: 672

Merit: 500

Quote from: FabioDelcatto on May 17, 2016, 03:55:51 AM

Quote from: JessicaSe on May 12, 2016, 10:10:23 AM

Quote from: Pitchblackroom on May 12, 2016, 10:04:23 AM

Bitcoin was a global currency 2-3 years ago when China was starting to adopt it. Russia adopted it a little earlier than that.

However, it does not have any sort of widespread usage except for niche markets.

At a moment bitcoin cannot be treated as an global currency, as majority of the people are not aware about the bitcoin but it can be a global currency in future.

Bitcoin is already a global currency and that is nice because you already can see that Bitcoin is becoming more popular so that is perfect and nice for the people with already Bitcoin.
But it have also to change because the price is still low and that is bad for the most people.

No doubt bitcoin is gaining more popularity but at this stage you cannot consider it as a global currency as market cap of bitcoin is too small and very few people are using it at a moment.

Amph

legendary

Activity: 3248

Merit: 1072

Quote from: deisik on May 17, 2016, 03:53:02 AM

Quote from: dsyahputera on May 17, 2016, 03:39:04 AM

Quote from: opossum on May 16, 2016, 05:54:27 PM

Quote from: expert4knowledge on May 16, 2016, 04:30:26 PM

Quote from: avw1982 on May 16, 2016, 01:20:38 PM

I believe that Bitcoin can serve developing communities very well, especially those with a weak banking infrastructure. Now in Asia many are being empowered through the mobile phone so using bitcoin as a means of transaction can work very well in areas where mobile internet is the only way to go.

Yes, bitcoin can be considered as a plan B for the developing countries but not the main currency.

Bitcoin will always be used as an secondary currency in developing countries as very few people are aware about it, and it will long time to see many people using it.

Unfortunately there is no developing country that legalized Bitcoin, although many of its citizens who have benefited from this digital currency. I think it is better for a developing country to create its own digital currency (altcoin) as second currency instead of using Bitcoin, and that means Bitcoin will not be a global currency at all, but the Bitcoin concept can change the financial system of developing countries, IMHO.

And who would emit new money in this currency? If government, how would it be different from the currency they already have?

they should simply embracing bitcoin and stop making their shitty altfiatcoin, that would only bring a few positivity related to proof of integrity if they were to use the blockchain

at the end is the people who decide what to use, not the government, so good luck to all the government when bitcoin will be big, their fiat will most likely be worthless

FabioDelcatto

sr. member

Activity: 336

Merit: 250

Quote from: JessicaSe on May 12, 2016, 10:10:23 AM

Quote from: Pitchblackroom on May 12, 2016, 10:04:23 AM

Bitcoin was a global currency 2-3 years ago when China was starting to adopt it. Russia adopted it a little earlier than that.

However, it does not have any sort of widespread usage except for niche markets.

At a moment bitcoin cannot be treated as an global currency, as majority of the people are not aware about the bitcoin but it can be a global currency in future.

Bitcoin is already a global currency and that is nice because you already can see that Bitcoin is becoming more popular so that is perfect and nice for the people with already Bitcoin.
But it have also to change because the price is still low and that is bad for the most people.

deisik

legendary

Activity: 3514

Merit: 1280

English ⬄ Russian Translation Services

Quote from: dsyahputera on May 17, 2016, 03:39:04 AM

Quote from: opossum on May 16, 2016, 05:54:27 PM

Quote from: expert4knowledge on May 16, 2016, 04:30:26 PM

Quote from: avw1982 on May 16, 2016, 01:20:38 PM

I believe that Bitcoin can serve developing communities very well, especially those with a weak banking infrastructure. Now in Asia many are being empowered through the mobile phone so using bitcoin as a means of transaction can work very well in areas where mobile internet is the only way to go.

Yes, bitcoin can be considered as a plan B for the developing countries but not the main currency.

Bitcoin will always be used as an secondary currency in developing countries as very few people are aware about it, and it will long time to see many people using it.

Unfortunately there is no developing country that legalized Bitcoin, although many of its citizens who have benefited from this digital currency. I think it is better for a developing country to create its own digital currency (altcoin) as second currency instead of using Bitcoin, and that means Bitcoin will not be a global currency at all, but the Bitcoin concept can change the financial system of developing countries, IMHO.

And who would emit new money in this currency? If government, how would it be different from the currency they already have?

dsyahputera

full member

Activity: 224

Merit: 100

Quote from: opossum on May 16, 2016, 05:54:27 PM

Quote from: expert4knowledge on May 16, 2016, 04:30:26 PM

Quote from: avw1982 on May 16, 2016, 01:20:38 PM

I believe that Bitcoin can serve developing communities very well, especially those with a weak banking infrastructure. Now in Asia many are being empowered through the mobile phone so using bitcoin as a means of transaction can work very well in areas where mobile internet is the only way to go.

Yes, bitcoin can be considered as a plan B for the developing countries but not the main currency.

Bitcoin will always be used as an secondary currency in developing countries as very few people are aware about it, and it will long time to see many people using it.

Unfortunately there is no developing country that legalized Bitcoin, although many of its citizens who have benefited from this digital currency. I think it is better for a developing country to create its own digital currency (altcoin) as second currency instead of using Bitcoin, and that means Bitcoin will not be a global currency at all, but the Bitcoin concept can change the financial system of developing countries, IMHO.

opossum

hero member

Activity: 924

Merit: 1000

Quote from: expert4knowledge on May 16, 2016, 04:30:26 PM

Quote from: avw1982 on May 16, 2016, 01:20:38 PM

I believe that Bitcoin can serve developing communities very well, especially those with a weak banking infrastructure. Now in Asia many are being empowered through the mobile phone so using bitcoin as a means of transaction can work very well in areas where mobile internet is the only way to go.

Yes, bitcoin can be considered as a plan B for the developing countries but not the main currency.

Bitcoin will always be used as an secondary currency in developing countries as very few people are aware about it, and it will long time to see many people using it.

expert4knowledge

hero member

Activity: 826

Merit: 1000

The All-in-One Cryptocurrency Exchange

Quote from: avw1982 on May 16, 2016, 01:20:38 PM

I believe that Bitcoin can serve developing communities very well, especially those with a weak banking infrastructure. Now in Asia many are being empowered through the mobile phone so using bitcoin as a means of transaction can work very well in areas where mobile internet is the only way to go.

Yes, bitcoin can be considered as a plan B for the developing countries but not the main currency.

avw1982

hero member

Activity: 644

Merit: 500

I believe that Bitcoin can serve developing communities very well, especially those with a weak banking infrastructure. Now in Asia many are being empowered through the mobile phone so using bitcoin as a means of transaction can work very well in areas where mobile internet is the only way to go.

expert4knowledge

hero member

Activity: 826

Merit: 1000

The All-in-One Cryptocurrency Exchange

Quote from: bitlancr on May 12, 2016, 07:03:32 PM

No this is never gonna happen, the bitcoin is too small and the other currency's are still way to big compared with it.
I consider this as impossible to be honest.

Bitcoin will not become a global currency since it does not have the required characteristics for becoming the currency.

fkvidar

hero member

Activity: 924

Merit: 1000

Quote from: Bitcoinbro on May 13, 2016, 07:02:19 AM

It could happen but in my eyes its right now very far from that because yes it has a good future but still not a good future to take over the world with it.

Bitcoin will be more popular in future but it getting a global currency is difficult to digest, as its really difficult to replace fiat currency and become a primary currency.

Bitcoinbro

sr. member

Activity: 420

Merit: 250

It could happen but in my eyes its right now very far from that because yes it has a good future but still not a good future to take over the world with it.

iv4n

legendary

Activity: 3346

Merit: 1191

Quote from: benjamindees on March 28, 2014, 03:31:21 AM

For the first time, when I look at the offers on LocalBitcoins.com, there are a half-dozen currencies ahead of the US dollar, offering a higher price for Bitcoin than US dollar users.

Euros, South African Rands, New Zealand Dollars, Hong Kong Dollars, Polish Zloty, Malaysian Ringgits.

It is no longer just the US, EU or even China driving adoption. There is a market for Bitcoins in major countries all over the world.

We are growing more each year, I think we can expect same to happen with every other currency in the world in some near future. I think people accepted bitcoin all over the world, next natural step in that process is some people to open trade sites for bitcoin and local currencies.

Market in major countries now need to pull little ones, only united we can grow even more and to survive in troubled times. But all that is not enough, bitcoin need to get into real markets for goods, into companies and firms.

I think bitcoin have good future, I don't expect things will happen for day or two, a lot of work waiting for us. I hope for the best.

xht

sr. member

Activity: 462

Merit: 250

hey you, yeah you, fuck you!!!

Quote from: bitlancr on May 12, 2016, 07:03:32 PM

No this is never gonna happen, the bitcoin is too small and the other currency's are still way to big compared with it.
I consider this as impossible to be honest.

For now bitcoin still smal if you compared to other currency but as digital money, i believe not need wait for a long time to bitcoin take over all electronic money.

arwin100

hero member

Activity: 2632

Merit: 787

Jack of all trades 💯

Quote from: target on May 13, 2016, 02:17:56 AM

Quote from: benjamindees on March 28, 2014, 03:31:21 AM

For the first time, when I look at the offers on LocalBitcoins.com, there are a half-dozen currencies ahead of the US dollar, offering a higher price for Bitcoin than US dollar users.

Euros, South African Rands, New Zealand Dollars, Hong Kong Dollars, Polish Zloty, Malaysian Ringgits.

It is no longer just the US, EU or even China driving adoption. There is a market for Bitcoins in major countries all over the world.

More countries will follow and with their help of the users here, its possible that paypal will soon change their policy just to compete with bitcoin.
All that bitcoin needs is the exposure to these individuals and allowing the them to earn thru bitcoin, they will certainly be using bitcoin.

It happens thay paypal users really switch using bitcoin now because bitcoin has have less transaction fee and there are less hassle using it unlike paypal it has big fee when you try to transfer your balance to bank accounts and it is very strict, i really think that they will compete with bitcoin because they don want to lose costumer,

target

legendary

Activity: 2282

Merit: 1041

Quote from: benjamindees on March 28, 2014, 03:31:21 AM

For the first time, when I look at the offers on LocalBitcoins.com, there are a half-dozen currencies ahead of the US dollar, offering a higher price for Bitcoin than US dollar users.

Euros, South African Rands, New Zealand Dollars, Hong Kong Dollars, Polish Zloty, Malaysian Ringgits.

It is no longer just the US, EU or even China driving adoption. There is a market for Bitcoins in major countries all over the world.

More countries will follow and with their help of the users here, its possible that paypal will soon change their policy just to compete with bitcoin.
All that bitcoin needs is the exposure to these individuals and allowing the them to earn thru bitcoin, they will certainly be using bitcoin.

bitcoinhopper

sr. member

Activity: 336

Merit: 250

Bravity is beautiful.

As you see now you see also that Bitcoin is getting more used now and that is perfect for Bitcoin and that is also nice for the people who already have Bitcoin so they can spend it more maybe.
But it is only hard to know what is going to happen with the Bitcoin and that is the problem.

bitlancr

hero member

Activity: 616

Merit: 500

No this is never gonna happen, the bitcoin is too small and the other currency's are still way to big compared with it.
I consider this as impossible to be honest.

Topic: Bitcoin is Becoming a Global Currency - page 116. (Read 226473 times)