Bitcoin is Becoming a Global Currency - page 60.

acroman08

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Quote from: shulio on April 06, 2017, 02:23:33 PM

Quote from: bitbunnny on April 06, 2017, 01:10:26 PM

That is true but the number of users doesn't influence on the fact whether Bitcoin is international currency or not. Since Bitcoin is already used all around the world and it's not thight in any way just to one nation and country, that makes it an iternational currency with no doubt. And that international "feature" is part of the great advantage comparing to some other currencies.

The number of user actually influence it as well. The more people that aware of this coin, the easier it will be accepted by a country. Therefore I think that when there are alot more people that actually accept it. The chance for it to become a world international currency is higher although it might not be because each country still has fiat

I agree, but bitcoin has no problem becoming an alternative currency( like a go to currency if you need to send
transact, buy etc..in another country ), all bitcoin need is popularity and a good image(which is hard to do) to
achieve becoming as an alternative currency.

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Quote from: bitbunnny on April 06, 2017, 01:10:26 PM

That is true but the number of users doesn't influence on the fact whether Bitcoin is international currency or not. Since Bitcoin is already used all around the world and it's not thight in any way just to one nation and country, that makes it an iternational currency with no doubt. And that international "feature" is part of the great advantage comparing to some other currencies.

The number of user actually influence it as well. The more people that aware of this coin, the easier it will be accepted by a country. Therefore I think that when there are alot more people that actually accept it. The chance for it to become a world international currency is higher although it might not be because each country still has fiat

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Quote from: DoublerHunter on April 06, 2017, 05:13:55 AM

Quote from: goldcoinminer on April 06, 2017, 12:20:03 AM

Quote from: Astvile on April 05, 2017, 10:11:16 PM

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.

This is a good sign that we see bitcoin is developing and being accept by almost all country in the world.it has a big chance to be a global currency now in this state if almost all country will adopt and use it

Well different nationalities uses bitcoin but the volume of users is not that big, bitcoin is a global currency in the sense that it has
given us a chance to transact fast regardless on what part of county you belong. We are all fair here since it's decentralized and we can fully achieve freedom as well.

I agree. The numbers of the bitcoin users are still just a few and it doesn't help that much in the price of bitcoin since the only big investors are still just a small part of the community. If we just continue spreading bitcoin then it will be easily increase the volume of the bitcoin users which can help for the market of bitcoin to grow up and be profitable for us. The features of bitcoin can easily attract investors or users because it is still fast and cheaper than other payment system.

That is true but the number of users doesn't influence on the fact whether Bitcoin is international currency or not. Since Bitcoin is already used all around the world and it's not thight in any way just to one nation and country, that makes it an iternational currency with no doubt. And that international "feature" is part of the great advantage comparing to some other currencies.

boumalo

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Quote from: DoublerHunter on April 06, 2017, 05:13:55 AM

Quote from: goldcoinminer on April 06, 2017, 12:20:03 AM

Quote from: Astvile on April 05, 2017, 10:11:16 PM

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.

This is a good sign that we see bitcoin is developing and being accept by almost all country in the world.it has a big chance to be a global currency now in this state if almost all country will adopt and use it

Well different nationalities uses bitcoin but the volume of users is not that big, bitcoin is a global currency in the sense that it has
given us a chance to transact fast regardless on what part of county you belong. We are all fair here since it's decentralized and we can fully achieve freedom as well.

I agree. The numbers of the bitcoin users are still just a few and it doesn't help that much in the price of bitcoin since the only big investors are still just a small part of the community. If we just continue spreading bitcoin then it will be easily increase the volume of the bitcoin users which can help for the market of bitcoin to grow up and be profitable for us. The features of bitcoin can easily attract investors or users because it is still fast and cheaper than other payment system.

I wonder

-How many bitcoins unique owners of 0.1 or more ?
-How many unique users transacted in bitcoins in the last 12 months ? How many MAU ?

https://blockchain.info/stats give some informations but not in the sense of MAU and yearly active users.

DoublerHunter

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Quote from: goldcoinminer on April 06, 2017, 12:20:03 AM

Quote from: Astvile on April 05, 2017, 10:11:16 PM

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.

This is a good sign that we see bitcoin is developing and being accept by almost all country in the world.it has a big chance to be a global currency now in this state if almost all country will adopt and use it

Well different nationalities uses bitcoin but the volume of users is not that big, bitcoin is a global currency in the sense that it has
given us a chance to transact fast regardless on what part of county you belong. We are all fair here since it's decentralized and we can fully achieve freedom as well.

I agree. The numbers of the bitcoin users are still just a few and it doesn't help that much in the price of bitcoin since the only big investors are still just a small part of the community. If we just continue spreading bitcoin then it will be easily increase the volume of the bitcoin users which can help for the market of bitcoin to grow up and be profitable for us. The features of bitcoin can easily attract investors or users because it is still fast and cheaper than other payment system.

yellow1

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I think maybe if it will become popular to everywhere and all over the country it possible to become currency among other country.Because bitcoin is a good investment especially on savings.And when it spread among the country maybe it will uses as a currency.

goldcoinminer

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Quote from: Astvile on April 05, 2017, 10:11:16 PM

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.

This is a good sign that we see bitcoin is developing and being accept by almost all country in the world.it has a big chance to be a global currency now in this state if almost all country will adopt and use it

Well different nationalities uses bitcoin but the volume of users is not that big, bitcoin is a global currency in the sense that it has
given us a chance to transact fast regardless on what part of county you belong. We are all fair here since it's decentralized and we can fully achieve freedom as well.

Astvile

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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.

This is a good sign that we see bitcoin is developing and being accept by almost all country in the world.it has a big chance to be a global currency now in this state if almost all country will adopt and use it

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Quote from: Lancusters on April 05, 2017, 03:56:06 PM

Bitcoin and so has no boundaries. Fortunately, the Internet allows you to quickly and easily transcend borders. The problem is only with what is necessary to change bitcoin for another currency to do the shopping, but I hope that everything will change soon.

That is why there are escrows such as coins.ph, coinbase, and etc.that converts bitcoin into fiat currency. Sooner, butcoin's currency would be accepted to used as majore currency and would make it's market to be more stable which volitality won't occur.

Lancusters

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Bitcoin and so has no boundaries. Fortunately, the Internet allows you to quickly and easily transcend borders. The problem is only with what is necessary to change bitcoin for another currency to do the shopping, but I hope that everything will change soon.

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Quote from: AdolfinWolf on April 05, 2017, 10:31:39 AM

Quote from: deppil on April 05, 2017, 10:16:32 AM

Quote from: usefrees on March 26, 2017, 01:22:10 PM

Now many have doubts that bitcoin can become a world currency. Nobody knows what will happen to bitcoin tomorrow. Therefore, we can not now talk about the good future bitcoin

I think the future can be predicted from the current bitcoin development. if the development of bitcoin is bad then the future will be ugly. but you can see the development of bitcoin is very good

And also at the speed which things will go.

Look at the fees, if they continue in this trend, we will be paying over a dollar in transaction fees the upcoming years.

There needs to be a change, and soon, or the future for bitcoin will look very ugly. I have read that segwit could be a good solution for these issues, and that it is ready to be deployed, my question is, why don't we activate it? Miner consensus?

Basically, yes, miners are opposing any innovation that would hurt there profits

SegWit itself wouldn't seriously affect their earnings but it is considered as an interim solution only, since it essentially increases the block size somewhat (apart from a few other things, of course), but as such it doesn't solve the Bitcoin scalability issues. But without accepting it, further updates which do solve these issues are not possible. And solving scalability question also solves the miners's question. Miners will evidently lose all their power as well as mining monopoly. That's why they don't want real innovation, as simple as it gets

Haladay

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Quote from: 232drialf on March 26, 2017, 10:04:24 AM

Quote from: lordquanta on March 26, 2017, 08:59:49 AM

At this stage bitcoin is NOT capable of handling global currency load. At most it has become global commodity and too much sought after commodity rather than global currency.

Bitcoin could be a means of payment for e-commerce site and will be a serious contender for a traditional money exchange service providers.

I think bitcoin does not need to handle global currency load to become a global currency. As written above, usage of bitcoin in e-commerce could make a great change!

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Quote from: deppil on April 05, 2017, 10:16:32 AM

Quote from: usefrees on March 26, 2017, 01:22:10 PM

Now many have doubts that bitcoin can become a world currency. Nobody knows what will happen to bitcoin tomorrow. Therefore, we can not now talk about the good future bitcoin

I think the future can be predicted from the current bitcoin development. if the development of bitcoin is bad then the future will be ugly. but you can see the development of bitcoin is very good

Development of bitcoin along with other such virtual currencies were found towards the growing path. Blockchain technology keeps everything in a perfect functioning and among this only very few seems potential and reach large user base. This eventually gets termed as a universal currency as it can be used anywhere.

STT

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Credit cards arent a perfect solution to global currency and in case they are quite expensive. My purchase from a euro seller who wanted dollars while I paid in sterling resulted in 8% fees and half way through he refunded some which incurred even more fees.

The credit card company is juggling currency in the background and paying for your convenience. There is definitely a gap for bitcoin to innovate a more free market solution to global value transfer and at a cheaper price. Im sure bitcoin will try to innovate despite its current problems

darthmaul

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I think it is just about bitcoin popularity and literacy towards to bitcoin. More people getting aware of bitcoins power and how it cab lead us towards financial freedom. That is one of the reason why it is taking shape of Global Currency. Previously there were number of services which were being provided in USD or EURO and they were not available to other countries/currencies. Now same services have opened up the doors for rest of the world with bitcoin as payment option. Ultimately it leads to bitcoins more use by other world and thus more popularity. I am pretty sure it will be legalised as Global Currency in coming years. :-)

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Quote from: DoublerHunter on April 05, 2017, 09:53:50 AM

Quote from: Vaslime on April 05, 2017, 09:48:27 AM

Quote from: btvlGainer on March 27, 2017, 02:33:28 PM

Quote from: mrjoy15 on March 27, 2017, 10:19:38 AM

Quote from: hankyulpark on March 27, 2017, 09:44:02 AM

Quote from: erwin45hacked on March 27, 2017, 06:23:40 AM

Quote from: dmamigo on March 27, 2017, 06:02:03 AM

I have faced it, I tried to introduce BTC, showed them its potential, profit increasing opportunity. But simply they are not interested. Some fears the volatility and some fears the governments. But still there will be many who will be using it, but not all. So dream of BTC becoming global currency is very difficult to fulfill, but its certainly not impossible.

You are showing them how to get profit and such that means they treat it as some kind of investment. People wont really believe in new kind of investment nowadays and if you actually started off by telling more of its function then Im sure that you are going to get better response from those people

I believe that this is a good point. The BTC popularization will happen when it could be used as a payment system. Gold has tremendous value, but nobody uses it to pay their coffee.
We are moving toward this, the day when BTC will be used as a "regular" payment method. But, to do so, it needs to be more "stable" as a token of value. 100% valorization in 1 year doesn't make me wanting to spend BTC. And BTC only will be as popular as its cases of utilization. Wink

If in one moment we're thinking that Bitcoin is becoming a Global Currency then main concern is Bitcoin the digital currency, which is totally decentralized also unstable, mostly unpredictable too. So, in future, have a solution about these, then it can be because Bitcoin has the good potential to become the new global currency.

Bitcoin has excellent potential, but has no support from the government. This is the only reason that prevents the formation of bitcoin as an international currency

I think the bitcoin does not need the support from the governments. As long as they do not hinder it, it is excellent.

Yes as of now, bitcoin does not need the support of the government because it can stand alone from its own and it still can support itself without the help of government but in the long run, we need the government because they can be the big investor in bitcoin and they will help to make the bitcoin stable and more secured because government will take over of it.

People here talking about that there is still a boundary between country's in terms of foreign currency existence. Well to tell you the truth we don't have any problem at all transacting with other countries without their own Fiat currency one good example is credit cards which is accepted online even if the cost is not your foreign currency the bank will automatically convert your expense in the currency needed into your transaction and at the same time it will be charge to your account at your local currency the value will be based on the current exchange during the time of the transaction. Even if we don't have any global currency it won't be any hindrance if you want to transact online, but I am not telling that Bitcoin won't be a global currency but it can be like an option to us users if we don't want to pay via Paypal or credit card then we can pay via Bitcoin.

marcuslong

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Based on what bitcoin showing to us it is possible to become a global currency since there are lot of users who really wanted to use bitcoin world wide not only one country but all of those country who wanting to use bitcoin as their digital currency for investment and other thing like for gambling and if bitcoin will become this probably bitcoin will be accepted to market to buy things that we could use too.

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Quote from: deppil on April 05, 2017, 10:16:32 AM

Quote from: usefrees on March 26, 2017, 01:22:10 PM

Now many have doubts that bitcoin can become a world currency. Nobody knows what will happen to bitcoin tomorrow. Therefore, we can not now talk about the good future bitcoin

I think the future can be predicted from the current bitcoin development. if the development of bitcoin is bad then the future will be ugly. but you can see the development of bitcoin is very good

Predicting based only on the current development is easy to make because it was disregarding the possible major factors that can bring bitcoin down. We are seeing good support to bitcoin from the community that's why we can say that things will be fine.

On the other hand, if the current development is bad and predictions about bitcoin will be bad too, they are disregarding the possible major effects that can bitcoin up.

So what is my conclusion that people must think, past movement can't dictate what bitcoin will be so try not to stay behind with every events that will take placed in bitcoin.

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Quote from: deppil on April 05, 2017, 10:16:32 AM

Quote from: usefrees on March 26, 2017, 01:22:10 PM

Now many have doubts that bitcoin can become a world currency. Nobody knows what will happen to bitcoin tomorrow. Therefore, we can not now talk about the good future bitcoin

I think the future can be predicted from the current bitcoin development. if the development of bitcoin is bad then the future will be ugly. but you can see the development of bitcoin is very good

And also at the speed which things will go.

Look at the fees, if they continue in this trend, we will be paying over a dollar in transaction fees the upcoming years.

There needs to be a change, and soon, or the future for bitcoin will look very ugly. I have read that segwit could be a good solution for these issues, and that it is ready to be deployed, my question is, why don't we activate it? Miner consensus?

deppil

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Quote from: usefrees on March 26, 2017, 01:22:10 PM

Now many have doubts that bitcoin can become a world currency. Nobody knows what will happen to bitcoin tomorrow. Therefore, we can not now talk about the good future bitcoin

I think the future can be predicted from the current bitcoin development. if the development of bitcoin is bad then the future will be ugly. but you can see the development of bitcoin is very good

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