Bitcoin is Becoming a Global Currency - page 146.

MinerHQ

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Quote from: HarHarHar9965 on August 19, 2015, 02:27:21 AM

Quote from: Falconer on August 17, 2015, 11:20:00 AM

Quote from: newcripto on August 15, 2015, 02:06:31 PM

Quote from: MinerHQ on August 15, 2015, 08:57:13 AM

As of now also no country is officially accepting bitcoin as a currency. It is still a new technology so just invest very small % to take advantage if it grows. But do not put all your savings here.

Here I must say your information is little outdated.Australia is the first country which begins to accept Bitcoin as currency.Just few days ago they officially announced that Bitcoin will be recognized as currency from now onward in Australia.

Well actually Australia has not accepted bitcoin officially yet, so there is still no country that accept bitcoin so far.

Australia has displayed its support for bitcoin by making good rules and regulations in terms of bitcoins, they have officially tweaked their laws just so bitcoin expands, most of the crypto business owners are Australia-based and there is a lot of adoption of bitcoin in Australia, I think they have accepted bitcoin very well. What is your definition of acceptance, make it their national currency? lol bro

Not only that, the price must be regulated with some big institutions otherwise traders will take the advantage will never allow grow prices.

HarHarHar9965

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Quote from: Falconer on August 17, 2015, 11:20:00 AM

Quote from: newcripto on August 15, 2015, 02:06:31 PM

Quote from: MinerHQ on August 15, 2015, 08:57:13 AM

As of now also no country is officially accepting bitcoin as a currency. It is still a new technology so just invest very small % to take advantage if it grows. But do not put all your savings here.

Here I must say your information is little outdated.Australia is the first country which begins to accept Bitcoin as currency.Just few days ago they officially announced that Bitcoin will be recognized as currency from now onward in Australia.

Well actually Australia has not accepted bitcoin officially yet, so there is still no country that accept bitcoin so far.

Australia has displayed its support for bitcoin by making good rules and regulations in terms of bitcoins, they have officially tweaked their laws just so bitcoin expands, most of the crypto business owners are Australia-based and there is a lot of adoption of bitcoin in Australia, I think they have accepted bitcoin very well. What is your definition of acceptance, make it their national currency? lol bro

Clint

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Great news! Hope it can replace some currencies in the future. Maybe bitcoin can be what it use to be again.

dodgecharger

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as bitcoin matures and stabilizes any country that has a financial crisis's people will get to consider it as an alternative . I think the network effects of this type of adoption are what will allow bitcoin to become the world's reserve currency

HeroCat

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Yes, that's true. BTC now is around the world Grin

I think, because BTC is first - first comes, first served Grin

marcus_of_augustus

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Eadem mutata resurgo

Quote from: valiz on August 17, 2015, 09:11:20 AM

I think it stands no chance to become a sort of global currency, because of the bandwith and storage limitations of the nodes. Perhaps all the cryptocurrencies together can achieve this, but not bitcoin by itself.

All you super-optimistic guys should also take a look from an engineering perspective, in my opinion. Every transaction needs let's say 200 bytes, which need to be propagated across the whole network, and then permanently stored on the blockchain. This is not for free and has it's limits. Today it can handle 7 transactions per second at most, imagine what millions of transactions per second would do to it.

Yes, every transaction takes around 200 bytes but not every transaction has to be broadcast or permanently stored on the blockchain. Only those transactions that can afford the full security of the blockchain should be broadcast. Millions of valid bitcoin transactions per second can take place without being broadcast to the bitcoin settlement network but only disputed transactions and final settlements need to afford the full security of blockchain arbitration.

HarHarHar9965

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Quote from: Dotakels on July 13, 2015, 08:41:50 AM

Quote from: HarHarHar9965 on July 13, 2015, 04:41:51 AM

Quote from: Dotakels on July 12, 2015, 11:31:02 AM

Quote from: greBit on July 12, 2015, 10:22:39 AM

Quote from: Miracal on July 12, 2015, 08:11:39 AM

Quote from: Zorrocoin on July 12, 2015, 06:52:33 AM

Quote from: marcus_of_augustus on March 28, 2014, 05:10:58 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.

You are correcct. It has not spread across a lot of countries. But not all the major countries , cant say that. But it has become a little more reputed now. I hope it becomes more popular and spreads across the whole globe so that all people can witness its brilliance and promising future plans.

Even if a person lives at some part of the world where he cannot have internet or something, it doesn't matter. Even with modest SMS messaging on your basic phone, you can transact business globally. You are the bank. Buy, sell and trade worldwide, with no banking fees. No car, debit card or ID required. Like a boss Wink

So all the people saying that bitcoin cannot be reached into third world countries because they don't have the appropriate infrastructure, they just need knowledge about it and a social offering by a trading company which should take it as an opportunity of business to help people without smartphones set up their wallets and then give them access through basic sms phones. A

Yes they need a devices that can have a wallet so that they can stored they coins, but i think third world country can't adopt bitcoin right now maybe some day.

There is a huge market out there for so many wallet companies and for so many companies which are bitcoin enthusiasts, they should take some real developement measures to gain this audience and benefit from the rise. Better marketing will lead to smarter adoption bringing in much revenue. It is an advantage for all the bitcoin users so we should support such a cause.

Yeah we all know that company with a business with bitcoin are do things that can affect the growth rate of annual income of their company, Yes company are so very enthusiastic with bitcoin, but some of company do bad things to earn bitcoin, so we can say that we can't depend on company.

There are service providers which might notice an annual increase in their sales if they include bitcoin as a payment gateway, the more use and trade of btc increases thereby increasing price of btc in the market, the price of btc which they receive in exchange of providing these services also increase, at the same time. Thus, they end up making as much money as much as they accept it Cheesy

Falconer

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Quote from: newcripto on August 15, 2015, 02:06:31 PM

Quote from: MinerHQ on August 15, 2015, 08:57:13 AM

As of now also no country is officially accepting bitcoin as a currency. It is still a new technology so just invest very small % to take advantage if it grows. But do not put all your savings here.

Here I must say your information is little outdated.Australia is the first country which begins to accept Bitcoin as currency.Just few days ago they officially announced that Bitcoin will be recognized as currency from now onward in Australia.

Well actually Australia has not accepted bitcoin officially yet, so there is still no country that accept bitcoin so far.

Quote from: Insertion on August 16, 2015, 11:12:02 PM

Bitcoin is definitely virtual currency and it is definitely an interesting concept. The problem with Bitcoin is that unlike the dollar, gold or land there is nothing actually backing it up other than the internet people trust. So I don't think it will become a global currency.

Internet has been our main activity nowadays, so I dont think its be a problem for bitcoin. Internet is the best way for transaction, and it should be an advantage for bitcoin.

Amph

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Quote from: valiz on August 17, 2015, 09:11:20 AM

I think it stands no chance to become a sort of global currency, because of the bandwith and storage limitations of the nodes. Perhaps all the cryptocurrencies together can achieve this, but not bitcoin by itself.

All you super-optimistic guys should also take a look from an engineering perspective, in my opinion. Every transaction needs let's say 200 bytes, which need to be propagated across the whole network, and then permanently stored on the blockchain. This is not for free and has it's limits. Today it can handle 7 transactions per second at most, imagine what millions of transactions per second would do to it.

well it is no mean to be globally accepted as a global currency for the moment, but for the future, storage isn't a problem if we can have terabyte like nothing even today

bandwith it may be, but if some projects like those of google with satellite internet, for everyone, will made it, we should resolve this issue also

Darude Sandstorm

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Quote from: Terabot on July 12, 2015, 10:24:25 AM

It is already a global currency we are just very early to adopt it.

I agree it is already kinda a global currency, but it's not much of a global currency if not many places around the world accept it. Once it is fairly easy to travel the world on bitcoin or at least you can find a few shops that accept it at the place you are then I think we can call it a global currency.

valiz

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BTC trader

I think it stands no chance to become a sort of global currency, because of the bandwith and storage limitations of the nodes. Perhaps all the cryptocurrencies together can achieve this, but not bitcoin by itself.

All you super-optimistic guys should also take a look from an engineering perspective, in my opinion. Every transaction needs let's say 200 bytes, which need to be propagated across the whole network, and then permanently stored on the blockchain. This is not for free and has it's limits. Today it can handle 7 transactions per second at most, imagine what millions of transactions per second would do to it.

MinerHQ

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Quote from: Erdogan on August 15, 2015, 02:19:54 PM

Quote from: newcripto on August 15, 2015, 02:06:31 PM

Quote from: MinerHQ on August 15, 2015, 08:57:13 AM

Quote from: rivoke on July 12, 2015, 11:35:28 AM

When bitcoin was early develop, who does expected that it can be the valuable currency just like now. IMO many investor is look bitcoin has a good prospect from their view so it gain more value & trust. Just keep in faith and hold bitcoin because it surely become a good investment on the future

As of now also no country is officially accepting bitcoin as a currency. It is still a new technology so just invest very small % to take advantage if it grows. But do not put all your savings here.

Here I must say your information is little outdated.Australia is the first country which begins to accept Bitcoin as currency.Just few days ago they officially announced that Bitcoin will be recognized as currency from now onward in Australia.

It was more like a recommendation from a committee, not?

Yes your correct. There was no official announcement yet. These kind of news also make bitcoins prices more volatile in the market.

Insertion

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Bitcoin is definitely virtual currency and it is definitely an interesting concept. The problem with Bitcoin is that unlike the dollar, gold or land there is nothing actually backing it up other than the internet people trust. So I don't think it will become a global currency.

eternalgloom

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Yeah I think bitcoin is especially usefull for people in developing countries.
I mean, they can earn the equivalent of a months wage by doing online jobs for bitcoin for example.

Plus if the price rises, they can get a lot of value out of that.

roadbits

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What most investors don't get about Bitcoin we're on the edge of creating a truly single global currency backed by the full faith of the world.

bitcollins85

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Bitcoin will gradually evolve, so it really could transform into Global Currency . What we see here are the first baby steps of that currency.

Erdogan

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Quote from: newcripto on August 15, 2015, 02:06:31 PM

Quote from: MinerHQ on August 15, 2015, 08:57:13 AM

Quote from: rivoke on July 12, 2015, 11:35:28 AM

When bitcoin was early develop, who does expected that it can be the valuable currency just like now. IMO many investor is look bitcoin has a good prospect from their view so it gain more value & trust. Just keep in faith and hold bitcoin because it surely become a good investment on the future

As of now also no country is officially accepting bitcoin as a currency. It is still a new technology so just invest very small % to take advantage if it grows. But do not put all your savings here.

Here I must say your information is little outdated.Australia is the first country which begins to accept Bitcoin as currency.Just few days ago they officially announced that Bitcoin will be recognized as currency from now onward in Australia.

It was more like a recommendation from a committee, not?

tommorisonwebdesign

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Quote from: newcripto on August 15, 2015, 02:06:31 PM

Quote from: MinerHQ on August 15, 2015, 08:57:13 AM

Quote from: rivoke on July 12, 2015, 11:35:28 AM

When bitcoin was early develop, who does expected that it can be the valuable currency just like now. IMO many investor is look bitcoin has a good prospect from their view so it gain more value & trust. Just keep in faith and hold bitcoin because it surely become a good investment on the future

As of now also no country is officially accepting bitcoin as a currency. It is still a new technology so just invest very small % to take advantage if it grows. But do not put all your savings here.

Here I must say your information is little outdated.Australia is the first country which begins to accept Bitcoin as currency.Just few days ago they officially announced that Bitcoin will be recognized as currency from now onward in Australia.

This is really good news for us early adapters. I'm confident that by 2020, those who save 10% of their assets in bitcoins today will end up becoming wealthy. I think all of us early adapters are very lucky to get into this now.

newcripto

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Quote from: MinerHQ on August 15, 2015, 08:57:13 AM

Quote from: rivoke on July 12, 2015, 11:35:28 AM

When bitcoin was early develop, who does expected that it can be the valuable currency just like now. IMO many investor is look bitcoin has a good prospect from their view so it gain more value & trust. Just keep in faith and hold bitcoin because it surely become a good investment on the future

As of now also no country is officially accepting bitcoin as a currency. It is still a new technology so just invest very small % to take advantage if it grows. But do not put all your savings here.

Here I must say your information is little outdated.Australia is the first country which begins to accept Bitcoin as currency.Just few days ago they officially announced that Bitcoin will be recognized as currency from now onward in Australia.

devil11

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Hmm...thats will become great for all the Bitcoin users

Topic: Bitcoin is Becoming a Global Currency - page 146. (Read 226365 times)