is it possible that we can use bitcoins in buying all commodities not only in one country but the entire wold? and how will this affect the economy.
Every people just dream on it and just need time to make it true, becuase the dollar value of a Bitcoin is determined on an open market, just as is the exchange rate between different world currencies If many countries are legalizing bitcoin as a means of payment. Maybe in the future bitcoin Will be the world currency
Topic: Bitcoin world currency - page 18. (Read 5841 times)
Again as i said on my other post, this will take a lot of time. Coz more people out there are still doing FUDs despite of BTC's success and All time high. But who knows as we all see bitcoin has been unstoppable all through out and i hope this will continue. Many famous people who use to say bitcoin is a fraud are now entering cryptos and i believe that's a very big progress.
Anything is possible on this changing world. If bitcoin continues to be accepted as payment and other terms, it may control the world of currencies in the future.
is it possible that we can use bitcoins in buying all commodities not only in one country but the entire wold? and how will this affect the economy.
It is not impossible to happen, I think one way or another bitcoin would be our worlds currency but its gonna take too long before that actually happens. There are still places that can't be reached by internet or any kind of new technologies so that would make transactions with bitcoin, impossible. Its too early to say that bitcoin will be our worlds currency, anything can happen in the crypto world, maybe some altcoin would take the place of bitcoin. But I think that it could be possible.
For Bitcoin to be a world currency each and every country has to accept it and many have started baning it just China for now but still one of the major political state has banned Bitcoin and that may stop Bitcoin being the new face of world currency.
Bitcoin, in its current form, can not become a substitution for traditional money and is not suitable for the role of the main currency for the world economy. Even if regulators surrender and accept bitcoin, deflation, and other factors, will hamper the development of the crypto-currency economy. To build an economy on crypto-currencies, it is necessary to change a lot in them, so that, without losing their advantages, they become more like traditional money.
I don't think this will happen because some country is banning bitcoin. And how about those people who don't have access on the internet or those people who do'nt know how to use the internet. How could they use bitcoin in their daily life.
I think it will take much time to do that one. The first thing to do is that people must know first what is bitcoin, how can it be used and many more related about bitcoin. Because in that way if most people know bitcoin usage it will be easy to adapt on that kind of scenario on bitcoin. But I am positive that it will be implemented worldwide and I am always hooping that it will happen so soon.
Actually it is not a very difficult job. All countries are spending too much money to print money, they can use these money better. When countries are aware of this, bitcoin may be the only common currency in the world.
I think it will take much time to do that one. The first thing to do is that people must know first what is bitcoin, how can it be used and many more related about bitcoin. Because in that way if most people know bitcoin usage it will be easy to adapt on that kind of scenario on bitcoin. But I am positive that it will be implemented worldwide and I am always hooping that it will happen so soon.
Actually it is not a very difficult job. All countries are spending too much money to print money, they can use these money better. When countries are aware of this, bitcoin may be the only common currency in the world.
No country will ever adapt it (or an alt) as their official currency, fiat still holds many real world benefits. I think they will work alongside each other quite well though, the fact it's international is really great and that is so much easier than international bank transfers etc.. as the law is defined in the coin itself rather than multiple different countries confusing each other.
But bitcoin is in a form of crypto-currency which isuch aligned to future. So there is still a possibility for Bitcoin to become a future currency that is good on transaction, investments or in the platform of trading. Which can give people an opportunity to earn and to have profit but most of all gave a universal form of currency for all form of transaction in business or daily transaction.It can be an alternative currency but will never be a primary one. Government always want to have control so they will always push the one that the have a full control. They may even create their own centralized blockchain technology just to adopt the technology of Bitcoin. Remember if the government wants to take advantage of the blochain technology, they will just create their own and implement it to their citizen.
is it possible that we can use bitcoins in buying all commodities not only in one country but the entire wold? and how will this affect the economy.
I think a day will come when bitcoin will be accepted all over the world and we should expect this to happen before the end of 2030. Economically it will help reduce unemployment, interest rate and stimulating our economy. We should keep promote the beauty of this technology and see were we would be in futures. 
Bitcoin has a decentralized p2p network, meaning it is censorship-resistant and lacks a kill-switch. Think BitTorrent except with counterfeit-proof payload (tokens). Bitcoin is also open source, meaning anyone can read the source code and contribute. People do so daily. No backdoor or lie lurks in the code. Hence Bitcoin is what it is and govt cannot stop or change it - provided we constantly guard Bitcoin security. With all these features, you could believe that bitcoin is the most security coin is cryptos world.
Central banks are, however, developing their own private blockchains and they will soon be issuing cryptocurrency fiat to replace anonymous cash and as a means of doing surveillance. They will sell it to the public as being "based on the amazing blockchain technology". But without open source code, without open participation (mining by anyone), the cenbank blockchain won't be decentralized and tamper-proof - it will be a sham and a coercion, as you describe. Bitcoin is revolutionary. Voluntary. The real deal. Money for the people by the people.
Central banks are, however, developing their own private blockchains and they will soon be issuing cryptocurrency fiat to replace anonymous cash and as a means of doing surveillance. They will sell it to the public as being "based on the amazing blockchain technology". But without open source code, without open participation (mining by anyone), the cenbank blockchain won't be decentralized and tamper-proof - it will be a sham and a coercion, as you describe. Bitcoin is revolutionary. Voluntary. The real deal. Money for the people by the people.
No country will ever adapt it (or an alt) as their official currency, fiat still holds many real world benefits. I think they will work alongside each other quite well though, the fact it's international is really great and that is so much easier than international bank transfers etc.. as the law is defined in the coin itself rather than multiple different countries confusing each other.
But bitcoin is in a form of crypto-currency which isuch aligned to future. So there is still a possibility for Bitcoin to become a future currency that is good on transaction, investments or in the platform of trading. Which can give people an opportunity to earn and to have profit but most of all gave a universal form of currency for all form of transaction in business or daily transaction.
I think it would improve the economy, but in order to be able to pay everywhere by bitcoin it takes a very long time. In our country it is almost not common, basically you can only make purchases through the Internet.
Yes im agree with you that bitcoin has the possibility to become the world currency and it will going to improve the economy. With this, it takes a very long long time to make it ppssible. But if everyones is going to participate therefore we can make it even in a short period of time.
Bitcoin is world currency it is true up to somehow but if it is universally acceptable then it will be good. It will also improve the economy and there will be no barrier of any country. So everywhere we can make a transaction.
is it possible that we can use bitcoins in buying all commodities not only in one country but the entire wold? and how will this affect the economy.
Every people just dream on it and just need time to make it true, becuase the dollar value of a Bitcoin is determined on an open market, just as is the exchange rate between different world currencies If many countries are legalizing bitcoin as a means of payment. Maybe in the future bitcoin Will be the world currency Mass adoption is a growing possibility. A bigger user base will open up different opportunities and the demand for bitcoin will keep growing thereby increasing its use worldwide.
This will happen. But take some more time. At first bitcoin will replace the dollar and then the entire paper currency and then the bank process .At last the bank. Finally the entire currency system.In many countries the bitcoin was accepted now.If it's accepted by all countries means ,bitcoin will became a world currency.
Bitcoin is used to refer to both the virtual currency as well as the decentralized payments network, and “the dollar value of a Bitcoin is determined on an open market, just as is the exchange rate between different world currencies.
I think it will take much time to do that one. The first thing to do is that people must know first what is bitcoin, how can it be used and many more related about bitcoin. Because in that way if most people know bitcoin usage it will be easy to adapt on that kind of scenario on bitcoin. But I am positive that it will be implemented worldwide and I am always hooping that it will happen so soon.
In my opinion there's nothing impossible.. if we look day by day, bitcoin is getting stronger and than the prices of bitcoin is getting rise up. If many countries are legalizing bitcoin as a means of payment. Maybe in the future bitcoin Will can be world currency..
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