Bitcoin is Becoming a Global Currency - page 152.

Honeybooboo

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Quote from: Lauda on March 14, 2015, 07:51:32 AM

Well if you take a look at localbitcoins you can find a list of 240 countries. It's amazing that Bitcoin has spread to countries like Burkina Faso. I'm pretty sure that the majority of people never even heard of it.
Pretty much everything is in a positive state, expect the price.

Exactly and the price not rising with the demand is the most disappointing thing. Whilst there are bitcoin users in far off places they might be the only one and if they are they've got nobody to sell to or buy from or spend their coins on anything. As I've said before I think we just need some patience for btc and we should see some gains eventually but this will take some time. Hopefully certain industries will see the benefits of accepting bitcoin and get on board sooner or later and if so the price should rise accordingly.

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Terminated.

Well if you take a look at localbitcoins you can find a list of 240 countries. It's amazing that Bitcoin has spread to countries like Burkina Faso. I'm pretty sure that the majority of people never even heard of it.
Pretty much everything is in a positive state, expect the price.

majorminers

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Ease of use and universal acceptance are required to make a truly global currency. When Bitcoin achieves those hallmarks it will be one.

Honeybooboo

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Quote from: deisik on March 14, 2015, 06:52:47 AM

Quote from: Honeybooboo on March 14, 2015, 06:36:15 AM

I think bitcoin is the first truly global currency and it truly does have the power to be a borderless, worldwide currency. My dream is that it just catches on so everybody else sees it like this because without being able to spend it at many places across the world it is kinda useless as a currency but I think this will change over time.

Gold was (and still remains) the first true and truly global currency by any means and thus for hundreds of years already. Whether bitcoin will be able to make it like gold did, remains to be seen. Personally, I think bitcoin is currently stuck between fiat and more apt cryptocoins, so it is not given that it won't be supplanted by them eventually...

Gold isn't very good as a currency for many reasons. Bitcoin is far superior in this regard in almost every imaginable way, though gold obviously has intrinsic value as a precious metal.

Quote from: dzambodzetem on March 14, 2015, 07:05:46 AM

There is also one reason why people may not want participate in bitcoin. The reason is that virtual currency is... virtual. If the global internet hits a big problem, it will also affect virtual money. With Physical currency in your pocket you don't need to worry about hackers, blackouts, etc.

Can I send gold to someone at the other side of the globe? Can I pay my friend a tiny little bit of gold for that money I owe him for those beers he bought me last night? Can I back my gold up multiples times to protect it? That's why bitcoin is far better as a currency.

dzambodzetem

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Quote from: deisik on March 14, 2015, 06:52:47 AM

Quote from: Honeybooboo on March 14, 2015, 06:36:15 AM

I think bitcoin is the first truly global currency and it truly does have the power to be a borderless, worldwide currency. My dream is that it just catches on so everybody else sees it like this because without being able to spend it at many places across the world it is kinda useless as a currency but I think this will change over time.

Gold was (and still remains) the first true and truly global currency by any means and thus for hundreds of years already. Whether bitcoin will be able to make it like gold did, remains to be seen. Personally, I think bitcoin is currently stuck between fiat and more apt cryptocoins, so it is not given that it won't be supplanted by them eventually...

There is also one reason why people may not want participate in bitcoin. The reason is that virtual currency is... virtual. If the global internet hits a big problem, it will also affect virtual money. With Physical currency in your pocket you don't need to worry about hackers, blackouts, etc.

deisik

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Quote from: Honeybooboo on March 14, 2015, 06:36:15 AM

I think bitcoin is the first truly global currency and it truly does have the power to be a borderless, worldwide currency. My dream is that it just catches on so everybody else sees it like this because without being able to spend it at many places across the world it is kinda useless as a currency but I think this will change over time.

Gold was (and still remains) the first true and truly global currency by any means and thus for hundreds of years already. Whether bitcoin will be able to make it like gold did, remains to be seen. Personally, I think bitcoin is currently stuck between fiat and more apt cryptocoins, so it is not given that it won't be supplanted by them eventually...

Honeybooboo

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Quote from: aso118 on March 13, 2015, 12:29:04 PM

Quote from: BillyBobZorton on March 13, 2015, 11:38:13 AM

Quote from: Nerazzura on March 13, 2015, 11:33:30 AM

Quote from: Inocencio on March 10, 2015, 06:16:45 AM

i think bitcoin is still a long way from being the global currency

Bitcoin is very flexible because he can be accepted and exchanged with any payment and transaction done very quickly. No need to wait a long time. It's already happening now

I had to send a bank transaction inside my country to another bank entity and it was so annoying now that im used to BTC transactions. Once you are in its forever.

The reason for the annoying procedures is government regulations.
Banks have to comply with know your customer norms, anti-money laundering norms, foreign exchange rules, etc.
Bitcoin has it easy.

Sadly these regulations will eventually come to bitcoin too. It's just a natural process really as the governments aren't going to freely and easily launder your money like this without them wanting their cut. Using exchanges that don't comply with these laws will become illegal and it probably is already.

Quote from: countryfree on March 13, 2015, 02:45:40 PM

BTC is a global currency, because there isn't any country behind it. Somehow, it's countryfree. Just like me.

I think bitcoin is the first truly global currency and it truly does have the power to be a borderless, worldwide currency. My dream is that it just catches on so everybody else sees it like this because without being able to spend it at many places across the world it is kinda useless as a currency but I think this will change over time.

deisik

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Quote from: dzambodzetem on March 14, 2015, 04:18:55 AM

Quote from: deisik on March 13, 2015, 03:36:22 PM

Quote from: johnyj on March 09, 2015, 11:43:09 PM

It will be many years before it is used everywhere

Unlike centralized system, everyone should take care of their own coins. If they have serious amount of coins, they can't rely on any third party including hard wallet makers (What if there is a back door? What if the wallet software is hacked? What if the key generated already exists?) So eventually they must learn all the bitcoin core mechanisms by themselves and learn how to protect their private key, that will take years Grin

You could generate your keys on a disconnected computer (there are a lot of manuals on the net how to do it), write them down on paper, and then trash the computer's storage media (if you are that paranoid)... Why should this necessarily take years to learn?

It can take years because not everybody is convinced to virtual currency. Many people (especially older) are not interested in some high tech money that you keep in your smartphone. BTC must be recognized by normal people in order to become global currency.

As to me, to believe in the bright future of bitcoin and learn how to safely work with it are two different things. The former may require a whole life (and some die-hards can't be convinced at all), while the latter can be done pretty fast...

dzambodzetem

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Quote from: deisik on March 13, 2015, 03:36:22 PM

Quote from: johnyj on March 09, 2015, 11:43:09 PM

It will be many years before it is used everywhere

Unlike centralized system, everyone should take care of their own coins. If they have serious amount of coins, they can't rely on any third party including hard wallet makers (What if there is a back door? What if the wallet software is hacked? What if the key generated already exists?) So eventually they must learn all the bitcoin core mechanisms by themselves and learn how to protect their private key, that will take years Grin

You could generate your keys on a disconnected computer (there are a lot of manuals on the net how to do it), write them down on paper, and then trash the computer's storage media (if you are that paranoid)... Why should this necessarily take years to learn?

It can take years because not everybody is convinced to virtual currency. Many people (especially older) are not interested in some high tech money that you keep in your smartphone. BTC must be recognized by normal people in order to become global currency.

deisik

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Quote from: johnyj on March 09, 2015, 11:43:09 PM

It will be many years before it is used everywhere

Unlike centralized system, everyone should take care of their own coins. If they have serious amount of coins, they can't rely on any third party including hard wallet makers (What if there is a back door? What if the wallet software is hacked? What if the key generated already exists?) So eventually they must learn all the bitcoin core mechanisms by themselves and learn how to protect their private key, that will take years Grin

You could generate your keys on a disconnected computer (there are a lot of manuals on the net how to do it), write them down on paper, and then trash the computer's storage media (if you are that paranoid)... Why should this necessarily take years to learn?

countryfree

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Your country may be your worst enemy

BTC is a global currency, because there isn't any country behind it. Somehow, it's countryfree. Just like me.

aso118

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Quote from: BillyBobZorton on March 13, 2015, 11:38:13 AM

Quote from: Nerazzura on March 13, 2015, 11:33:30 AM

Quote from: Inocencio on March 10, 2015, 06:16:45 AM

i think bitcoin is still a long way from being the global currency

Bitcoin is very flexible because he can be accepted and exchanged with any payment and transaction done very quickly. No need to wait a long time. It's already happening now

I had to send a bank transaction inside my country to another bank entity and it was so annoying now that im used to BTC transactions. Once you are in its forever.

The reason for the annoying procedures is government regulations.
Banks have to comply with know your customer norms, anti-money laundering norms, foreign exchange rules, etc.
Bitcoin has it easy.

BillyBobZorton

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Quote from: Nerazzura on March 13, 2015, 11:33:30 AM

Quote from: Inocencio on March 10, 2015, 06:16:45 AM

i think bitcoin is still a long way from being the global currency

Bitcoin is very flexible because he can be accepted and exchanged with any payment and transaction done very quickly. No need to wait a long time. It's already happening now

I had to send a bank transaction inside my country to another bank entity and it was so annoying now that im used to BTC transactions. Once you are in its forever.

Nerazzura

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Quote from: Inocencio on March 10, 2015, 06:16:45 AM

i think bitcoin is still a long way from being the global currency

Bitcoin is very flexible because he can be accepted and exchanged with any payment and transaction done very quickly. No need to wait a long time. It's already happening now

jerol31

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Yes, that is correct. I agree with it.

Bitcoin is truly becoming a global currency, because of millions of people who are trading and mining.

I believe bitcoin will become even more popular in few years from now.

gentlemand

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Quote from: Inocencio on March 10, 2015, 06:16:45 AM

i think bitcoin is still a long way from being the global currency

It is a (not THE) global currency in a tiny, experimental way. There are several foreign countries I could wash up in right now and probably just about survive on nothing but BTC. By the end of the decade things might look rather more convincing.

Twipple

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Quote from: Trader Galactic LLC on March 10, 2015, 12:17:10 AM

Anybody know the current volume of BIT? Is that what's moving the price right now? Usually we get a crash after the GOVT auctions.

You can get an estimate from summing up the volume on different exchanges .
I consider bitcoin to be a global currency already . And there are startups which are working just to get it mainstream. So I expect to hear more good news about it soon

Darude Sandstorm

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Quote from: Inocencio on March 10, 2015, 06:16:45 AM

i think bitcoin is still a long way from being the global currency

Well I think it is already a global currency as you can move it around the world and across borders instantly, but what we need for it to truly become a global currency is merchants accepting it all around the world. It would be so cool if this happened.

Inocencio

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i think bitcoin is still a long way from being the global currency

Trader Galactic LLC

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Quote from: lyth0s on March 10, 2015, 12:28:42 AM

Quote from: Trader Galactic LLC on March 10, 2015, 12:17:10 AM

Anybody know the current volume of BIT? Is that what's moving the price right now? Usually we get a crash after the GOVT auctions.

If I recall correctly we actually get a small dip prior to auctions and then once all the traders' fears are soothed that people won't be massively dumping the coins on the exchanges we actually get a good sized rally.

No, the exact opposite has happened in the prior 2 fed auctions.

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