Topic: Bitcoin is Becoming a Global Currency - page 139. (Read 226404 times)

Any physical bitcoin have no value as a currency but only as an ornamentation object. Those are made by bitcoin passionate people which pretend to create with those even their being unique (meaning being unique as it is every bitcoin) and not reproducible. But this don't make them regular bitcoin because bitcoin is known only as a digital currency from everyone. And it is not known yet how (which, what) can be a physical bitcoin.

Implementing bitcoins as a form of physical money have a different requirements that should have a particular country there such things that you must consider like bitcoin must be mainstream so that there will no problem that will come.

I believe that Bitcoin can serve developing communities very well, especially those with a weak banking infrastructure. Now in Africa 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.

Please correct me if I'm wrong but I've hered that there are some phisical bitcoin coins, but since the value of them are so much (approx. 250 USD now) that it makes people not to use them as normal everyday coins.
Just imagine what is the approx. value of the normal coins you have in your pocket/leather wallet/car's ashtry, is it worth the value of 1 bitcoin coin?
The bitcoin coin is phisical (or will be phisical if I know it wrong), but because of the value of it you would put it into your safe instead of your pocket.
Another question if the bitcoin coin will have smaller coins (change) like cent for EUR or for USD. This could be the satoshi for example

To be a physical coin it should require lots of money to produce.
Because it requires lots of metals and at least 1 country should implement it.
But as a digital currency it is much easier and you can buy almost anything with the bitcoin debit card.

Bitcoin is a digital currency and that is known and told by everyone. Is a particular new currency which for the moment have no physical form. I write "for the moment" because in the future it is not impossible that even bitcoin has its physical form.

But it is not the problem about which I want to discuss in this thread.

Let's make an analyse of your post. You tell that if bitcoin be a currency there will (must) be a paper coin, or anything that has phisycal (form). Where have found you this? Who told this?

Below are the meaning of the words "currency" and "money" taken from good sources. In no one of definitions is conditioned the existence of a currency with the having of one physical form of it. It is only one part of definition which ask for the physical form of the currency but this definition is not an condition but optional because tell: "You'll need some cash in local currency but you can also use your credit card" So you need to have some cash (physical money) OR you can use your credit card. As a conclusion. If you have the credit card you don't need the cash. If you have the credit card you may "forget" about the cash. Credit and debit card with bitcoin are to many in circulation so this part of definition meet the conditions asked by the definition of the currency.

Read below the entire definition and the source of those.

According to Oxford dictionary: "The currency is the system of money that a country uses:

trading in foreign currencies
a single European currency
You'll need some cash in local currency but you can also use your credit card."

Source: http://www.oxfordlearnersdictionaries.com/definition/english/currency

According to Wikipedia: "Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context, or is easily converted to such a form."

Source: https://en.wikipedia.org/wiki/Money

The final conclusion. Bitcoin is a currency even with the actual definitions of this "tool".

But even is not. Who told you that the definitions cannot be improved with the evolution of the "tool"?

up until now i dont know if bitcoin can be categorized as currency,,it just commodity without physical like gold..

if bitcoin a currency there there will be a paper bitcoin,,or anything that has physical..

Acceptance can be OK with the bitcoin backed debit cards. Most of the merchants won't notice that you payed with bitcoins, they only see the VISA logo.
On the long run they will accept bitcoins via phone NFC payment but it's really long term I think.

its nice to see that bitcoins are getting more and more popular all around the world these are the signs that its price might grow a lot in the future

Yes it is spreading all over the world but it is not as faster that it should be and the reason is lack of awareness among the people of the country. It is on the way to be a global currency but it will take some time and it is only possible when there is acceptance across the globe.

Good point, but I think US would treat bitcoin as a commodity like gold instead of currency. I'm not supporting US, but if bitcoin disturb its economy, I guess US will do anything to regulate bitcoin with its power (although we know bitcoin is a decentralized thing). And sometimes what exactly happens in real world is different with what we expected before, so if the whole world adopt bitcoin, we can't guarantee the wealth become more distributed in every country.

yeah its about to happen we are not to rush the growth of bitcoin and let the people discover how its work or we can help them to introduced and to understand to them what bitcoin can make.

When there are people who will use it and support it and as much as the government wont do things that can be a hindrance to it soon I believe it will be.

Many people feel that bitcoin can have the largest impact in developing economies with weak fiat currencies. Most of the world does not even have a bank account. Bitcoin can help

There is no problem even if some countries do not like the growth of bitcoin or the raise of bitcoin. It will not definitely affect the bitcoin's growth as a global currency. When, there is a real potential thing happens, it will reach it's own target just because of it's own deserved potential heights. So, bitcoin to be global currency is imminent.

as much theres someone use it and as much as government will not ban it and if they can not totally support it, just give bitcoin a chance to prove that it can help the economy of their country.

It is possible for it to become the next global currency, as much as heard that it is becoming known with  other countries out there and at the same time used.

Agreed with you, many people are not aware with the concept of crypto currency. Education and awareness in required in order to build the trust towards bitcoins so that there will be increase in the people who are using bitcoins and the same has to be spread over the period. I believe that one day btc will be accepted universally as a mode of payment.

America can sustain their way of life by just printing more dollars, and the inflation will not only hit America, but the whole world. So America is basically stealing wealth from the whole world by importing goods with infinite dollars. Once Bitcoin becomes mainstream and dollars become relics of the past, America will need to find export products or else their economy will collapse, they can't print their way out of this. Even if they'd own every single Bitcoin, they minute they import something the world will demand something of equal value back, so eventually they either need to export or hand over some bitcoins.

This means wealth will theoretically become more evenly distributed. You can get a huge head starts by investing early, but once Bitcoin is the 'reserve currency' of the world you will eventually have to do something productive or accept the fact that you will eventually bleed dry.

Yes, this is especially true when you think about the fed and private banks and the amount of control they have over the government.  It would be very naive to think that a small group of very wealthy/very powerful group of white men with indirect control of the worlds most powerful armies wouldn't do something to protect the scheme they have going as of right now.  It'll be a long hard road for bitcoin to be fully accepted in every business/institution residing in every country in the planet.  That's some WWIII sh**.