Bitcoin is Becoming a Global Currency - page 51.

sunsilk

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Quote from: Raven91 on May 09, 2017, 09:24:15 AM

Quote from: sunsilk on May 09, 2017, 09:11:03 AM

Quote from: ?? on ??

yes. I also think can bitcoin be the world currency, it will all look easy,

I also believe that one day we'll see bitcoin is on a massive adoption and it will be consider by many of us as a universal currency.

Because majority of us wants decentralization and cheaper fees which these features can be found to bitcoin.

So we are close to it.

Certainly. Big investors are now considering digital currrency for better, convinient and faster transaction. This is friendly user for everyone as we don't need to worry wether our transaction gets successful or wether our wallet get suspended as no one will be tolerated to do that as digital currency is decentralized currency. We are all looking forward for the digital currency to be used in universal/global currency.

I'm not worried about account/wallet suspension because if you are not doing something wrong, why there's need to worry on it.

Big investors are getting into bitcoin right now because they are seeing the market of it is growing fast.

Wise investors will get into bitcoin while it is still early because they know the advantage of it and they will endorse bitcoin to become their currency to their customers.

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Quote from: UCHCHILD on May 09, 2017, 09:45:27 PM

Yes, but for sure things will be different if we have a very crowded volume of users, like government will try to take charge of it because people are going into bitcoin.
Things are good in bitcoin now so I hope when it become global currency it will remain the same as what we have now.

It will happen if the bitcoin users already numbered very large. Probably covering most of the world's population. Perhaps it will also make governments consider adopting bitcoin

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Quote from: CyberCombat on May 10, 2017, 01:34:40 AM

I think that bitcoin will never be global, because there is a very strong opponent in the face, and when the banks hate the bitcoin, there will never be anything

Bitcoin is already global whether you (or anyone else) like it or not

If you look at its competitors from the fiat camp, only a few major currencies can pretend to be global. I suspect that you can easily count them all on the fingers of just one hand. Apart from that, banks as such are essentially "agnostic", so to speak, in respect to Bitcoin, i.e. they basically don't care if Bitcoin exists or not (at least, as long as their profits are not concerned), but they are not agnostic toward profits. So they would be happily using Bitcoin if that would bring them more profits (or just profits) and they were allowed to be involved in Bitcoin

Cherylstar86

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Bitcoin is now competing to the world currency and for the records of good price on market, it might became a global currency soon. If the good price will rise for better and many people will became educated with the systematic approach of digital currency, it's no wonder this bitcoin with a unique use and purpose on investment. With this good signs of digital currency impact to the whole world's profitable income coming from bitcoin, which really brings better future to everyone who gives interest to get involve with the system.

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Quote from: cryp24x on May 10, 2017, 03:48:39 AM

Quote from: olyaru on May 10, 2017, 01:57:56 AM

Today Bitcoin is gaining very huge turnover and therefore one can really reason and its global impact on the world economy, Well, for example, replace the dollar Bitcoin still can not, at least in the near future.

I wonder why people keep on thinking and debating on issue about bitcoin replacing dollar when it has been stated bitcoin is best as alternative currency. It make bitcoin to stay away from the noses of this corrupt officials and stay away from the control and centralization. And I think bitcoin will stay that way, being an alternative currency even if it is used as global currency.

I do agree with that.
Actually with this high price it is already threatening if you think about the market. This strong value they cannot allow.
I dont know if they are already doing steps to stop it or they just cant.
Something valuable and is higher in terms of price than gold can be an eyesore for that corrupted officials specially if they are not gaining anything from it.
Best to stay that way for now.

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Quote from: Bedebah on May 10, 2017, 12:53:30 AM

I think this opinion is still hard to achieved, there is currently no global currency and a currency strongest still USD. The first phase that must be traversed bitcoin is beat USD, so that it can become a global currency.

Let us first define a global currency. A global currency is a kind of currency that is not limited to one political boundary. Not all money or fiat currency is a global currency, right now the only fiat currency that is a global currency is US dollar. Bitcoin on the other hand is not limited in just one country but it is accessible and can be used in all countries around the globe and given this fact it is also considered to be a global currency.

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Quote from: deisik on May 10, 2017, 01:32:49 AM

Quote from: bitkilo on May 09, 2017, 11:15:14 PM

The governments cant take bitcoin down anyway so no need to worry about that but they can try to regulate it so much so that it won't be worth using but they would not be a good option for them.
Could you imagine that when the Internet started the government said that due to national security or whatever we will not allow the public access to it

The genie is out of the bottle already

Even if they could take down Bitcoin somehow or regulate it up to a point where it is no longer usable, that would be an exercise in futility and stupidity, just like you can't stop an avalanche once it has started going down. They may spend plenty of money, time and effort to make Bitcoin unusable only to see another competitor rising which would be even more aggressive, resilient and robust. Cryprocurrencies are here to stay, so governments have to accept this fact and find ways to live with it (whether they like it or not)

At least we had some great news today that shows the Australian government is starting to look at bitcoin in a more sensible light.
Budget 2017: Government makes good on Bitcoin promise - Double GST to end from 1 July

Quote

The federal government’s budget confirms that from 1 July Bitcoin and similar digital currencies will no longer suffer the current ‘double taxation’ burden.

Currently Bitcoin is treated as more like a commodity than a currency for GST purposes, with transactions using the cryptocurrency akin to barter under Australian tax law.

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Quote from: olyaru on May 10, 2017, 01:57:56 AM

Today Bitcoin is gaining very huge turnover and therefore one can really reason and its global impact on the world economy, Well, for example, replace the dollar Bitcoin still can not, at least in the near future.

I wonder why people keep on thinking and debating on issue about bitcoin replacing dollar when it has been stated bitcoin is best as alternative currency. It make bitcoin to stay away from the noses of this corrupt officials and stay away from the control and centralization. And I think bitcoin will stay that way, being an alternative currency even if it is used as global currency.

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Quote from: Mbokani on May 10, 2017, 01:53:28 AM

Quote from: Kisanaq on May 08, 2017, 06:59:13 PM

I think it still takes time, when the world is screwed up, the threat of war Korea vs. USA make the economic recession, and could not be disputed that the influence of the USD is still very strong that bitcoin it took a long time.

The recession we had in the past is more than enough for people who knows financial structure to believe in the new technology and start investing in it,the hurdle is they are not familiar with the tech field and so it will take some time to get validation from the people in the financial structure and with more countries regulating bitcoin people will notice it without a doubt and it is truly a global currency.

Today Bitcoin is gaining very huge turnover and therefore one can really reason and its global impact on the world economy, Well, for example, replace the dollar Bitcoin still can not, at least in the near future.

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Quote from: Kisanaq on May 08, 2017, 06:59:13 PM

I think it still takes time, when the world is screwed up, the threat of war Korea vs. USA make the economic recession, and could not be disputed that the influence of the USD is still very strong that bitcoin it took a long time.

The recession we had in the past is more than enough for people who knows financial structure to believe in the new technology and start investing in it,the hurdle is they are not familiar with the tech field and so it will take some time to get validation from the people in the financial structure and with more countries regulating bitcoin people will notice it without a doubt and it is truly a global currency.

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Quote from: Kasabus on May 09, 2017, 09:03:05 PM

Quote from: anami57 on May 09, 2017, 12:16:27 PM

It is worth it if bitcoin becomes global currency, because bitcoin makes easier for its users, unlike other eccurencies or cash that still have some rules or restrictions from the government. And bitcoin can be an investment option.

Bitcoin has no restriction if you will not convert that to cash but the moment you will cash out you have to follow the rules of the government has set.
In the near future more and more rules will be establish now that bitcoin is getting the attention of the government due to its popularity.

I think of that too since it is getting known and many will for sure indulge their money in bitcoin so I guess government will try to make some access to it and put some rules and regulations and be like a bank which is so badly not good for bitcoin. We should protest strongly if any such attempt is being made by the government.

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I think that bitcoin will never be global, because there is a very strong opponent in the face, and when the banks hate the bitcoin, there will never be anything.

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Quote from: bitkilo on May 09, 2017, 11:15:14 PM

The governments cant take bitcoin down anyway so no need to worry about that but they can try to regulate it so much so that it won't be worth using but they would not be a good option for them.
Could you imagine that when the Internet started the government said that due to national security or whatever we will not allow the public access to it

The genie is out of the bottle already

Even if they could take down Bitcoin somehow or regulate it up to a point where it is no longer usable, that would be an exercise in futility and stupidity, just like you can't stop an avalanche once it has started going down. They may spend plenty of money, time and effort to make Bitcoin unusable only to see another competitor rising which would be even more aggressive, resilient and robust. Cryprocurrencies are here to stay, so governments have to accept this fact and find ways to live with it (whether they like it or not)

iyan33

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Indeed today bitcoin can be categorized as a global currency but we all know that until now no country has declared about the legality of bitcoin as the second currency after the real currency

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Quote from: Omegasun on May 10, 2017, 01:02:38 AM

Quote from: Bedebah on May 10, 2017, 12:53:30 AM

I think this opinion is still hard to achieved, there is currently no global currency and a currency strongest still USD. The first phase that must be traversed bitcoin is beat USD, so that it can become a global currency.

I think BTC can be considered as Digital Global Currency since it is already used around the world and the majority of Digital currency nowadays are bitcoin.
BTC already surpass Paypal, Payza and other online currency due to it's fast transaction and anonymous features.

I have a very strong suspicion that you purchased your account purely to post for the signature payouts because i find it hard to believe that someone involved in bitcoin since 2015 could get so much wrong in just one post.

First of all you say that the majority of digital currencies nowadays are bitcoin, i don't even know where to start by saying how wrong that statement is, bitcoin is just 1 digital currency and could never be the majority of them Roll Eyes

Secondly bitcoin is nowhere near surpassing PayPal in transaction speed. Paypal currently does about 115 transactions per second while bitcoin can only handle about 5-7 per second, big difference. Visa on the other hand can handle 2,000 transactions per second easily.

And last of all bitcoin is not anonymous, since all transactions are recorded on a public ledger called the blockchain they are there for everyone to see.

Have a read of this: https://en.bitcoin.it/wiki/Scalability

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Quote from: Bedebah on May 10, 2017, 12:53:30 AM

I think this opinion is still hard to achieved, there is currently no global currency and a currency strongest still USD. The first phase that must be traversed bitcoin is beat USD, so that it can become a global currency.

I think BTC can be considered as Digital Global Currency since it is already used around the world and the majority of Digital currency nowadays are bitcoin.
BTC already surpass Paypal, Payza and other online currency due to it's fast transaction and anonymous features.

Bedebah

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I think this opinion is still hard to achieved, there is currently no global currency and a currency strongest still USD. The first phase that must be traversed bitcoin is beat USD, so that it can become a global currency.

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As I can see now in bitcoin, it is transparently become a global currency in different country. Why did I said that things? It is because in Japan Bitcoin was legally declared as currency in some places of their country, if I am not mistaken, and now China is the next waiting planning to make bitcoin to their country to become a legal currency too.

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Quote from: freedomgo on May 09, 2017, 11:47:07 PM

Quote from: bitkilo on May 09, 2017, 11:15:14 PM

Quote from: UCHCHILD on May 09, 2017, 09:45:27 PM

Yes, but for sure things will be different if we have a very crowded volume of users, like government will try to take charge of it because people are going into bitcoin.
Things are good in bitcoin now so I hope when it become global currency it will remain the same as what we have now.

You obviously don't follow the bitcoin news too closely, bitcoin is running quite well on the surface but the background fighting and secret deals is absolute fire at the moment.
Each side is accusing the other of underhanded tactics some of which have been proven.

The governments cant take bitcoin down anyway so no need to worry about that but they can try to regulate it so much so that it won't be worth using but they would not be a good option for them.
Could you imagine that when the Internet started the government said that due to national security or whatever we will not allow the public access to it,

That's the worst case scenario because the government can always manipulate its people and making us believe what is not true, the fact that only few people are still using bitcoin and it has already alarm the government, they might take this down and our happiness will be over.

However, I am not looking toward that of happening, it is only the possible outcome or the worst case scenario.

It not the amount of people using bitcoin that worries the government as much as what those few people are using bitcoin for, Wikileaks donations is a great example.
Governments all around the world are racing to introduce "cashless societies", they want to know how much of your own money you spend, they want to know where you spend it and most importantly they want to make sure they have ~~stolen~~ taxed you all they can on those transactions.

I don't have too much of a problem if governments want to do that checking with the welfare payments they give out but if it's my money that i working hard for then they have no right to know where or what i spend my money on.

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Quote from: bitkilo on May 09, 2017, 11:15:14 PM

Quote from: UCHCHILD on May 09, 2017, 09:45:27 PM

Yes, but for sure things will be different if we have a very crowded volume of users, like government will try to take charge of it because people are going into bitcoin.
Things are good in bitcoin now so I hope when it become global currency it will remain the same as what we have now.

You obviously don't follow the bitcoin news too closely, bitcoin is running quite well on the surface but the background fighting and secret deals is absolute fire at the moment.
Each side is accusing the other of underhanded tactics some of which have been proven.

The governments cant take bitcoin down anyway so no need to worry about that but they can try to regulate it so much so that it won't be worth using but they would not be a good option for them.
Could you imagine that when the Internet started the government said that due to national security or whatever we will not allow the public access to it,

That's the worst case scenario because the government can always manipulate its people and making us believe what is not true, the fact that only few people are still using bitcoin and it has already alarm the government, they might take this down and our happiness will be over.

However, I am not looking toward that of happening, it is only the possible outcome or the worst case scenario.

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