Topic: Bitcoin is Becoming a Global Currency - page 136. (Read 226365 times)

The market online ,is  increasing, every month we see new markets,accepting and growing their sales,bitcoin being part of it is just a boost it will take,not all people buy online even when this market is growing.If some people see bitcoin as an investment and well the safe way to avoid others people(contries) to say what you can do or not with your money ,everytime financial problems affects the country and they go into banks to hold the pression .

 Bitcoin has becomed a global currency in Australia Bitcoin will save us hundreds of billions of dollars per year in transactions fees.


 Bitcoin was designed specifically for the internet, and the result is lower fees, less fraud, and an open payment system with free competition.    in the coming years will be transparency, openness, convenience, and price. Thank you

This is another pearl of this forum. Must be read from everyone. The poster believe that bitcoin will replace the local currencies in 80-90% of all the world countries. Not from 81% or 81.7% until 89.8% or 77.6% until 92.3% but fully 80-90%. I made several searches in internet to find some other more comprehensive data about these figures given without doubts by the poster but was unable to find something other. So must be contented only with those.

But I found that there are only 51 the countries for which are data about bitcoin. For the remaining (more than 150) nothing. So the last ones, or don't know it at all or are very few those who known and the Authorities don't mind about bitcoin. I though that the poster had in mind exactly the last countries when had write its post. These countries can go directly to bitcoin for as much as don't know it. It will be more easy for these exactly for this reason. But yet there is something that must be wrong in my reasoning. Those are not 80-90% of all countries but less. Which of the others will go with those? I thought two-three hours but then left the thinking because was unable to find the solution.

So I would ask the poster if kindly can show us which are the other countries which will join the group of about 150 countries (which for the moment don't know at all or ignore bitcoin) to reach the 80-90% of the countries which will use bitcoin by 2022 (no day before and no day after) as a local currency. I am so curious to learn this. Can't wait that this happen.

Maybe the poster can give even the change of bitcoin with the other currencies this year. It is an important year (have three 2) and the poster must have other data about it.

Dear StarofBTC!

Everything of us make something wrong. It is human thing this. But this post is out of everything. You are part of a signature campaign. Your post is so strange that I cannot tell that you made this post only to be paid. Because is impossible that this kind of post be counted for having reward. I want to ask you only something. Have you thought even one time that this post have your nick and will be read and associated always with your nick? Will be always (if not deleted by you) in your archive of posts and everyone who will read will remain without word?

How can touch your mind this thing you have written? How is possible to be so easy to write such thing? Where do you have hear or see this inaudible thing? How is possible to be so irresponsible in writing such things?

Maybe I'm doing much bigger that needed this post but are tens and tens the post like this. That cost loss of time and nerves when is read. Then why read such things when have this judgement for those - can ask someone. Because no one know what is written in a post before reading it. Me too. So who want to know new things or learn new things from the others (like me) want to read everything. And this is the why of the read. When are one row it is everything easy. Sometimes even funny. But when are long and incomprehensible it is very difficult to be chewed.

I want to end here this long and maybe in vain post. But at least pulled out from my mind my annoyance about this kind of posts.

Please be responsible when write.

It's almost a truism to say that membership in the euro exacerbated the Greek crisis. The thinking goes like this: Because Greece doesn't have its own currency, it couldn't increase its competitiveness and boost growth through devaluation. Although devaluation is a valuable instrument, I think most countries and companies would benefit if the world, not just Europe, used a single currency.

Today's fragmented financial world is unfair. On the one hand, there's Denmark with such a glut of currency, local and foreign, that its central bank's key deposit rate is minus 0.75 percent and companies are considering overpaying their taxes because the Tax Ministry pays 1 percent interest on the excess. Then there's Greece, which has had to limit withdrawals from automated teller machines to 60 euros a day because of a severe cash crunch.

Consider the case of Apple, with an enormous cash pile that earns next to nothing. The company had about $160 billion in March 2014 and made $1.795 billion in interest and dividend income that year -- which is less than 1 percent, considering that the company's kept increasing the cash holding. And there are companies, even entire countries, that would kill to be financed at that rate -- but are forced to accept much higher ones, and not necessarily because they are unsafe borrowers, but because they are often dragged down by risk perceptions that have little to do with reality.

Before the 2008 financial crisis, financial globalization -- defined as international capital inflows -- was on the rise, partly because investors underestimated risk. After the mortgage crash, it became clear that rating agencies weren't much help to investors in making such estimates and that local and specialized knowledge was needed to make intelligent decisions. The European debt crisis only confirmed this. Cross-border investment fell off sharply:

Despite all the talk of globalization and its harmful effects, money doesn't wander the world looking for opportunities. Mainly, it stays at home. Even some of the recorded international flows are in fact domestic investment made through offshore havens for tax purposes. No wonder direct investment is the most stable component of cross-border capital movements: Companies and individuals investing in specific projects do their homework on a micro level, so they probably have the best information.

Generally, though, the fiscal regimes, political and macroeconomic risks of countries vary so much that mistakes happen, even when a foreign investor can afford detailed and knowledgeable analysis. The bond guru Michael Hasenstab's investment in Ukrainian bonds for Franklin Templeton is a case in point: The trade was thoroughly analyzed and Hasenstab traveled to Kiev last year to talk to officials and executives, but the country now wants him to accept a 40 percent haircut as part of its International Monetary Fund-led bailout.

To ensure that financial resources are distributed more evenly throughout the world, it would make sense to cut down country-specific risk. Taking monetary policy out of individual countries' hands would go a long way toward that goal. Currency risk would be eliminated -- the same monetary unit would be in use everywhere -- and there would be a uniform interest rate environment. The creditworthiness of specific borrowers would be investors' biggest area of concern. That's still a big unknown, and there would always be enough coups, revolutions, corruption, fraud and mismanagement to throw the best models off kilter. Yet there would be much less to worry about.

Now, the world's 140 or so currencies sometimes make cross-border flows dangerous. Switzerland and Denmark have both suffered from their commitment to their own currencies this year. The ability to devalue is nice, but it's illusory, to a large extent: It helps balance a budget, bring down debt levels and make exports more competitive, but it hits ordinary people with high inflation. Besides, according to a 2010 paper by Stephen Kamin, director of international finance at the Federal Reserve System,

    The crisis has also identified an area in which the standard array of central bank tools may have become inadequate in many countries: liquidity provision and the lender-of-last resort function. With the rise in the share of financial transactions undertaken in vehicle currencies such as dollars and euros, the ability to print domestic currency may no longer suffice to address a liquidity crisis. Accordingly, international arrangements for liquidity provision may become increasingly important in the future.

In short, by giving up the right to print their own money, governments stand to lose less and less. And they might even need the discipline imposed by an outside monetary policy aithority. A country dependent on a single natural resource -- say, oil -- is tempted to spend when the price of that resource is high; knowing that devaluation will be unavailable when it falls will make such a country accumulate windfall revenues in a rainy-day fund instead.

If the world used the same currency, the problems inadvertently caused by the euro wouldn't be replicated. German banks were too willing to lend to projects in the European periphery because they felt they could trust members of the same exclusive currency club and because the euro made investing in Europe almost frictionless, an advantage the rest of the world didn't have. The one world, one currency club would make friction disappear.

Of course, there would be the question of who should administer the global central bank. The U.S. would want to -- the dollar is as close to a global currency as we have -- but resistance from other global players would sink the project. This is where something like Bitcoin could come in handy: a decentralized system that works with little human intervention. "Mining" rules could be established to prevent anyone from cornering the market, but the system would self-regulate.

This is naive utopianism, of course. The obstacles to such a project are beyond estimation, as so is the technical complexity. But this pipe-dream is a reminder of how tough and complex the euro project is. Those who hasten to write it off as a failure don't show it enough respect. Sure, there have been setbacks, and some countries may prove unable to keep taking part, but its participants are accumulating data that may one day allow us to figure out how to bring the whole world closer together.

well thats cool to know that i guess its always good to have a bigger community as more and more people can get interested in bitcoins

the more it is popular around the world and the more people accept it the better as it is causing price rises and so on

Bitcoin instead of it'S local currency isn't correct. The country will continue using swedish crows.Just the digital version of it.This is a nightmare because this means total financial control. Bitcoin however is an option and I hope  the government will not change it's opinion about it.

hope this would affect the bitcoin price and make bitcoin more popular, even though im not sure

just right now cointelegraph posted that sweden is accepting bitcoin now instead of its local currency......SWEDEN NOW CASHLESS

read here for more :-

Bitcoin thread:- https://bitcointalk.org/index.php?topic=1218014.0;topicseen
Cointelegraph Link:- http://cointelegraph.com/news/115452/sweden-to-become-worlds-first-cashless-country

it will not be the future is everything people do is acquiring bitcoin to dump for fiat later, only using bitcoin does not mean anything

thay must use bitcoin directly, and avoid dumping, that's the way to really promote bitcoin

i guess one can argue that this cna't be done yet because not many shop accept bitcoin, but with open bazar it will be interesting to see how the thing will evolve, there will be no excuse anymore...

It is hard to say at the moment. It is still in the infant stage.

yes i think it will soon by 2022 replace local currencies of 80-90% countries....will love to see it then 

Well said. Global currency is a unfilled designation till now for the human race. So, the first one only suitable and with all required features for present economic situations. When bitcoin becoming the first global currency it would be priced more and more than our imaginations.

Bitcoin's applications have the potential to stretch far beyond fiat, and companies and individuals are already leveraging the technology to modernize key products and services across a variety of industries. Remittances, payment processing, personal banking, auditing, secure data transmission, information hashing, securities settlement/clearing and traditional financial trading are just a handful of examples of its possible applications.

I think it will be in the future because a lot of people are starting to use it and maybe soon it will be the global currency.

One day bitcoin will be one of the very used currency in the world.
And it is a great advantage to start collecting bitcoins now.

From the node point.

They will regulate exchanges, websites, services that will deal with bitcoin.

So even if the protocol itself is free from regulation, the services wont be.

I've always seen crypto as the great equalizer in some of the emerging and developing countries. .Gives the people power of their funds.

Its a great news.
If bitcoin becomes a global currency.

if you only know how many people here in Philippines can speak english language and how they get bored while studying english subject, you will lose hope that most people here in philippines will not learn how to speak english language because of poor education and poor areas.