Bitcoin is Becoming a Global Currency - page 150.

dulldog

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Quote from: deisik on April 06, 2015, 05:36:29 AM

Quote from: AZwarel on April 04, 2015, 08:00:07 PM

You are absolutely right about the fact that govs can push it to underground - even though there is no coordination among the govs -, but the invention is out. They can not "uninvent" blockchain (decentralized consensus). They are powerless in the long run, and they do not even know; - just check out the Canadian senate hearing [https://www.youtube.com/watch?v=xUNGFZDO8mM] , where 60+ grey haired guys try to comprehend networking, internet and crypto, it is hilarious :-D

I wouldn't underestimate those 60+ grey haired guys. They may indeed understand nothing (or even less than that) about and in technology (and all such), but they know people, their weaknesses and addictions by far better than most of us do, since, otherwise, they wouldn't get where they are in the first place. This means, in its turn, that they have guys at their disposal who are pretty well aware of what's what in networking, internet and crypto (and by far better than most of us do)...

You hit the mark, not to say they're very tricky manipulators, those grey haired guys.

OpenOcean

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Bitcoin will never become a world-reserve currency, I hope this is not what the article is implying. It would be terrible for that purpose IMO because of the uneven distribution at the moment and the confirmation times.

I would like to see bitcoin become government-to-government currency, used for sales of things like ships or planes.

marcus_of_augustus

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Eadem mutata resurgo

Quote from: deisik on April 06, 2015, 05:36:29 AM

Quote from: AZwarel on April 04, 2015, 08:00:07 PM

You are absolutely right about the fact that govs can push it to underground - even though there is no coordination among the govs -, but the invention is out. They can not "uninvent" blockchain (decentralized consensus). They are powerless in the long run, and they do not even know; - just check out the Canadian senate hearing [https://www.youtube.com/watch?v=xUNGFZDO8mM] , where 60+ grey haired guys try to comprehend networking, internet and crypto, it is hilarious :-D

I wouldn't underestimate those 60+ grey haired guys. They may indeed understand nothing (or even less than that) about and in technology (and all such), but they know people, their weaknesses and addictions by far better than most of us do, since, otherwise, they wouldn't get where they are in the first place. This means, in its turn, that they have guys at their disposal who are pretty well aware of what's what in networking, internet and crypto (and by far better than most of us do)...

you are somewhat correct but also over-estimating them ... the people "at their disposal" are good but not good enough to invent bitcoin, or bring it to fruition and they are still close enough to the metal to know a superior technology idea when they see one i.e. which way the wind is blowing.

deisik

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Quote from: AZwarel on April 04, 2015, 08:00:07 PM

You are absolutely right about the fact that govs can push it to underground - even though there is no coordination among the govs -, but the invention is out. They can not "uninvent" blockchain (decentralized consensus). They are powerless in the long run, and they do not even know; - just check out the Canadian senate hearing [https://www.youtube.com/watch?v=xUNGFZDO8mM] , where 60+ grey haired guys try to comprehend networking, internet and crypto, it is hilarious :-D

I wouldn't underestimate those 60+ grey haired guys. They may indeed understand nothing (or even less than that) about and in technology (and all such), but they know people, their weaknesses and addictions by far better than most of us do, since, otherwise, they wouldn't get where they are in the first place. This means, in its turn, that they have guys at their disposal who are pretty well aware of what's what in networking, internet and crypto (and by far better than most of us do)...

AZwarel

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Quote from: Possum577 on March 09, 2015, 01:17:10 AM

Quote from: zolace on March 28, 2014, 10:11:52 AM

Is not surprising, and the governments won\t be able to stop bitcoin.We have to hear good stuff about this coin,not only negative ones.I in bitcoin,and i believe will become the top global currency!

I don't think it's as clear cut as "governments won't be able to stop bitcoin."

Governments can and have done some awful things to control the people. They can certainly push bitcoin underground, which wouldn't be good. But the people control of this too. The people need to elect leaders that support the future they want to see. The people need to get more involved in politics. The people need to find their voice...then use it.

You are right and maybe

Yes, governments can be - sadly - horribly effective at killing things (people?), but they are usually and - thx to heavens - terrible at innovation and tech, which is speeding up exponentially.
As one of the speak persons for BTC, Andreas M. A. said, "You can not stop money that is information" (for it can be spread on a tissue, radio wave, spoken language, smoke signals, etc).

You are absolutely right about the fact that govs can push it to underground - even though there is no coordination among the govs -, but the invention is out. They can not "uninvent" blockchain (decentralized consensus). They are powerless in the long run, and they do not even know; - just check out the Canadian senate hearing [https://www.youtube.com/watch?v=xUNGFZDO8mM] , where 60+ grey haired guys try to comprehend networking, internet and crypto, it is hilarious :-D

AZwarel

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Quote from: thejaytiesto on March 08, 2015, 03:51:37 PM

Quote from: countryfree on March 28, 2014, 02:18:28 PM

For a given country's population, if the share of bitcoiners was the same in every country, Americans would only make 5% of all transactions. On the other hand, if using bitcoin is relative to the available wealth, the U.S. will keep on dominating bitcoin for many more years.

I think south euro countries may start becoming the main countries in term of transactions volume, also then later on add all those poor countries without banking system once with SMS technology you can do more than enough to operate with BTC.

I had a vacation last summer in Greece. I have met/drunk with many people, telling them about bitcoin (yes i do that evangelism a lot, if the situation is right:). One of them is opening a restaurant this summer, and i educate him about bitcoin accepting options, for he is invigorated.

There are literally ten to the hundreds of thousands of people all around the world who spread the bitcoin message EVERY DAY, in an ever exponentially growing numbers, all around, and many people listen. It follows the power law f(x), and can not be stopped or slowed down. The first time i have heard BTC was in late 2013, since than i have had the Nicosia online course on cryptos, read books, listened like 400 hours of videos, gone to conferences and "converted" 3 of my best entrepreneur friends; all started or going to accepting bitcoin in their business this year!

I am actually surprised how fast this is spreading among my societal circles, even with older generations (50+). We are definitely gonna be surprised how fast the tipping point is going to be reached; it is proving once more how the exponential can not be comprehended by humans

Nicolas Dorier

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Quote from: aso118 on April 04, 2015, 06:30:43 PM

Quote from: maku on April 03, 2015, 12:33:23 PM

Do you know what is probably the biggest obstacle in regards to mainstream adoption of bitcoin by the general public? it is conservatism towards money amongst a mass populace who do not appreciate the way 'the dollar in your pocket' has been successfully eroded by inflation, government debt and of course the massive madness of quantitative easing.

The problem is people are okay with a 1% decline in value over a year. They might not even notice it.
But when they see that Bitcoin has lost 50+% of its value in a year, they are naturally reluctant to invest in it.

The big irony is that when the euro loose 35% in one year, on the contrary they say "it is good for us, export boost".

aso118

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Quote from: maku on April 03, 2015, 12:33:23 PM

Do you know what is probably the biggest obstacle in regards to mainstream adoption of bitcoin by the general public? it is conservatism towards money amongst a mass populace who do not appreciate the way 'the dollar in your pocket' has been successfully eroded by inflation, government debt and of course the massive madness of quantitative easing.

The problem is people are okay with a 1% decline in value over a year. They might not even notice it.
But when they see that Bitcoin has lost 50+% of its value in a year, they are naturally reluctant to invest in it.

maku

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Do you know what is probably the biggest obstacle in regards to mainstream adoption of bitcoin by the general public? it is conservatism towards money amongst a mass populace who do not appreciate the way 'the dollar in your pocket' has been successfully eroded by inflation, government debt and of course the massive madness of quantitative easing.

erikalui

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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.

There are few buyers who offer a higher price in bitcoins as they are mostly in urgent need to buy bitcoins and invest it in some website or purposes like gambling. In my country India, I dint notice anyone offering higher than the market price unfortunately.

bornil267645

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AltoCenter.com

Yup, that's a pretty positive site. But the worrying part is, people within it's community is losing hope. People who don't know anything about the bitcoin market, invested solely because he saw it on the internet, or in friends android or by seeing the neighbor Undecided

, are creeping up bad influences. We need to stop that.

And also need Bitcoin here in Bangladesh. Grin

Jeremycoin

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𝓗𝓞𝓓𝓛

Well, in my country BTCitcoin doesn't have law
So we can use BTCitcoin as we want
And also with our own risk

Denker

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Quote from: foxbitcoin on March 31, 2015, 02:20:12 AM

Governments will not accept to see their currency lose value, but they will also realize that they can't ban bitcoin.

Right! So finally they will stop fighting and try to make a use of it. Something I would totally be ok with.Give them a piece of the pie.But just a piece of course! Wink

ShintoshiBTC

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YOU"RE LIKE A TIMEBOMB!

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.

Then why is the Bitcoin price keeps stalling at $250?

ahmedjamal1998

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Just to join the thread

if you check , there are alot of offers in Egypt too.
Yes, it's not that popular in here but it's on its way to be....

foxbitcoin

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Governments will not accept to see their currency lose value, but they will also realize that they can't ban bitcoin.

marcus_of_augustus

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Eadem mutata resurgo

Quote from: loan4 on March 30, 2015, 11:26:14 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.

Yes, sure. Bitcoin will become a popular payment method all over the world in the future

Disruptive technologies begin by servicing niche market cases that incumbents serve poorly or not all. As the new ways take root, become stronger, better adapted and more familiar, then they start encroach on existing markets, eventually overwhelming them with better services, efficiency and economies of scale. Expect the peripheral economies and niche markets inside the large countries, to lead the way with real bitcoin economic activity. Bitcoin speculative activity however could well be concentrated in the large centers since these are basically just speculative hubs now after 4 decades of fiat financialisation of the real economy led by central banks driven on by predatory multinational banking mega-corporations.

loan4

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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.

Yes, sure. Bitcoin will become a popular payment method all over the world in the future

Erdogan

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Quote from: zimmah on March 28, 2015, 07:41:49 PM

Quote from: countryfree on March 28, 2014, 02:18:28 PM

For a given country's population, if the share of bitcoiners was the same in every country, Americans would only make 5% of all transactions. On the other hand, if using bitcoin is relative to the available wealth, the U.S. will keep on dominating bitcoin for many more years.

Except eventually they will bleed dry because America doesn't export anything of value. Countries that rely heavily on import with almost no export will be hurt in a gold or commodity based currency like Bitcoin.

This is because for every product you import, your country will lose Bitcoin.

Right now 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.

That's right. The emerging markets will eventually have all the bitcoins, and we will have to send over some valuable goods to get them back.

deisik

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Quote from: zimmah on March 28, 2015, 07:41:49 PM

Quote from: countryfree on March 28, 2014, 02:18:28 PM

For a given country's population, if the share of bitcoiners was the same in every country, Americans would only make 5% of all transactions. On the other hand, if using bitcoin is relative to the available wealth, the U.S. will keep on dominating bitcoin for many more years.

Except eventually they will bleed dry because America doesn't export anything of value. Countries that rely heavily on import with almost no export will be hurt in a gold or commodity based currency like Bitcoin.

This is because for every product you import, your country will lose Bitcoin.

Right now 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.

They can always start another "war on terrorism". Oh, wait, that's what they are doing right now in Iraq. Not that ISIS are angels in the flesh or anything of the kind, but weren't the Americans the ones who had toppled Saddam Hussein and unleashed chaos in this wretched country? Aren't they the ones who tried to do the same in Syria and recently in Ukraine?

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