Bitcoin world currency - page 22. | Bitcointalksearch.org

Nissan-GTR

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Quote from: rodel caling on August 05, 2017, 02:19:01 AM

Quote from: Jmmerquita on August 05, 2017, 12:43:57 AM

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 agree bitcoin world currency there's nothing impossible bitcoin begin explore strong currency in cryptocurrency altcoins its easy use to buy anything even pay bills etc. i think bitcoin accepting the world as a currency in the future to help the people growth.

I dont think so, we should consider the fact that for now most of the countries doesnt recognized bitcoin and its potentials , and people should accept the fact we cannot purchase all the commodities since estates are not yet acquiring bitcoin as a way of exchange since its volatile, they cannot predict how low or when it will depreciate . Fiat will still the national currency of each country because its is stabnle and it also represents the identity of each country, government will not use bitcoin since its decentralized for being worldwide currency.

mustakforum

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Quote from: Jmmerquita on August 05, 2017, 12:43:57 AM

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.

Bitcoin greatly helps the economy of a developing country

Kronos21

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Quote from: faceoff97 on September 27, 2017, 07:18:15 AM

Your idea of having a currency which allows anybody arround the world to buy and sell using bitcoin is good. I think its happening already, we can see it where different people are offering diferrent service and goods. Seeing how bitcoin works now, I think bitcoin is pretty good functioning along side with other currencies. I think we can already call bitcoin as "world currency" . But we are still on the process on making bitcoin available to all kinds of commodities, we cant rush it to happen. It is now under the development, then I think the countries part is to take their action how to apply tax with their people using bitcoin. Regulation is the part of the government to make the economy better alongside with bitcoin.

It seems to me that you are in a hurry. Bitcoin still not be called a currency. He has all the characteristics of currency. Indeed there are some places where you can pay with bitcoin but they are too few. Everything is still in order to make a purchase need to exchange bitcoins for Fiat.

faceoff97

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Your idea of having a currency which allows anybody arround the world to buy and sell using bitcoin is good. I think its happening already, we can see it where different people are offering diferrent service and goods. Seeing how bitcoin works now, I think bitcoin is pretty good functioning along side with other currencies. I think we can already call bitcoin as "world currency" . But we are still on the process on making bitcoin available to all kinds of commodities, we cant rush it to happen. It is now under the development, then I think the countries part is to take their action how to apply tax with their people using bitcoin. Regulation is the part of the government to make the economy better alongside with bitcoin.

Heyyyrenz

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Actually many countries will not accept bitcoin as a world currency why?

Let me give you a good example. If all the people in one country will work and the bitcoin will be the payment there will be no tax and the country will fall, we all know that the whenever you work in a country you need to pay a tax and in bitcoin there is no tax the only thing bitcoin has is a transaction fee.

But there's a solution to it, if a country accepts the bitcoin as their currency they need to have 1 bitcoin wallet that's only applicable to the country and need to only have 1 bitcoin wallet for every person. And whenever bitcoin comes to a wallet they will deduct it depends on how much bitcoin you receive.

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Quote from: Persiville on September 27, 2017, 03:33:01 AM

Quote from: albertvert on August 07, 2017, 04:30:21 PM

Quote from: jvdp on August 07, 2017, 03:54:27 PM

Quote from: TrumpD on August 07, 2017, 02:22:44 PM

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. Wink

Ya true so.This will happen only if the bitcoin price reaches the moon and it's used by common people for their daily needs.This process will occur steps by step.At first the world most using dollar. Then all the paper currency. At last only the World currency system.

Yes one of the factor is also the price of bitcoin. Next thing is that mass adoption can be achieve, once other countries start recognizing bitcoin as a currency without even legalizing it. And yes also i agree that once it wil be accepted by other countries as well then it is not impossible that even commoners will adopt and recognize bitcoin and use it to their day to day transaction.

Bitcoin is easy to use any counters and it will use full for the traction for the money exchange. If need money, you will easy to transfer for the money or bitcoin. It is a digital currency its value charge every time. And you will check the wallet for the bitcoin price. bitcoin value the counter it is the benefit of the bitcoin users.

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Quote from: albertvert on August 07, 2017, 04:30:21 PM

Quote from: jvdp on August 07, 2017, 03:54:27 PM

Quote from: TrumpD on August 07, 2017, 02:22:44 PM

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. Wink

Ya true so.This will happen only if the bitcoin price reaches the moon and it's used by common people for their daily needs.This process will occur steps by step.At first the world most using dollar. Then all the paper currency. At last only the World currency system.

Yes one of the factor is also the price of bitcoin. Next thing is that mass adoption can be achieve, once other countries start recognizing bitcoin as a currency without even legalizing it. And yes also i agree that once it wil be accepted by other countries as well then it is not impossible that even commoners will adopt and recognize bitcoin and use it to their day to day transaction.

omonuyak

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Quote from: Jmmerquita on August 05, 2017, 12:43:57 AM

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 very possible and days are coming when bitcoin will be number one currency in the whole world. When internet was advented some years back many of us said alot of evil things about it and some said it will be difficult to get internet to all part of the world but today we can all see were we are in internet technology. Then most bankers said internet is not save but we can see that all the bank are using internet to transact business now. Bitcoin will one day be like internet itself.

Official Armor Ceramics

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I think it is one of the ways of our world financial system development.

On the one hand, USD, being the world currency, is rather strong and always in need. A lot of people all over the world do not imagine that any other currency would "play" this role. On the other hand, today the would financial system shows that it needs changes, as it's doesn't work very efficiently.

In this connection, bitcoin really can become a new world currency, but it is a long process and, in fact, nobody knows if people wold trust and use it.

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Quote from: EnormousCoin101 on August 05, 2017, 02:13:54 AM

Yes it is possible but it may take some time or years as bitcoin don't have a stable price in the market though you could use bitcoin for payment online and some physical store who accepted bitcoin.

A lot of development needed so some countries will accept bitcoin as payment but the problem is the government and other bank who are against on bitcoin.

I agree with you, Bitcoin do not have stable price in the market so as of now it is impossible for it to become a world currency also this digital currency or this cryptocurrency is not accepted in many countries all over the world. And it will become a big issue to the government on how they will implement it and how this new currency can help the economy of the country.

jpoker272727

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Quote from: Jmmerquita on August 05, 2017, 12:43:57 AM

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.

Yep, it’s possible to buy anything with Bitcoin.
I don’t really know what commodities you’re talking about…but I believe you can buy any commodity, if you’re able to find someone that owns it and is also accepting Bitcoin as a payment for the commodity he owns.

albertvert

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Quote from: jvdp on August 07, 2017, 03:54:27 PM

Quote from: TrumpD on August 07, 2017, 02:22:44 PM

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. Wink

Ya true so.This will happen only if the bitcoin price reaches the moon and it's used by common people for their daily needs.This process will occur steps by step.At first the world most using dollar. Then all the paper currency. At last only the World currency system.

bluefirecorp

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Quote from: TrumpD on August 07, 2017, 02:22:44 PM

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.

Even if bitcoin is adopted by many people it cant be used in the whole world now for purchasing commodities. Bitcoin is mainly used to earn some extra income by trading, investing, etc. But it cant be used to purchase commodities in the whole world at least currently.

Bitcoin is surely been accepted in many countries for purchasing some commodities but not the whole world and also it costs more due to the transaction fees.

Ewinsane

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Quote from: audaciousbeing on August 07, 2017, 02:22:20 PM

I see it being possible but with challenges that might make it so difficult to make it impossible and this is largely reliant on the political class which is very impossible for them to agree with the direction to go. Russia and USA, USA and China, China and north Korea among other issues that surrounds the political class of the world in which this factor alone can make bitcoin becoming global currency never achievable in our life time.

If bitcoin is used globally to purchase commodities and to exchange things then gradually the stock markets or the national currency may fall and it would cost a large loss for the governments of the whole world so the government may try to protect their currency. Bitcoin can be correctly used for trading and using online instead of purchasing commodities.

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Quote from: TrumpD on August 07, 2017, 02:22:44 PM

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. Wink

Osarman

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Quote from: Jmmerquita on August 05, 2017, 12:43:57 AM

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.

Yes, it might be possible in some future years. For now it is not yet possible perhaps due to the long time taken by the confirmations of the transaction. After the activation of segwit, transactions may occur faster and also we can be able to see some more increment in the price for bitcoin. If transaction are made instant, then many traders or dealers may start selling their commodities for bitcoins.

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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.

audaciousbeing

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I see it being possible but with challenges that might make it so difficult to make it impossible and this is largely reliant on the political class which is very impossible for them to agree with the direction to go. Russia and USA, USA and China, China and north Korea among other issues that surrounds the political class of the world in which this factor alone can make bitcoin becoming global currency never achievable in our life time.

JL421

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Quote from: Jmmerquita on August 05, 2017, 12:43:57 AM

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.

Yes it is surely possible we just need the right technology for that otherwise the product bitcoin is really and consumers are also ready just to solve common problems with product and consumers we need a technology to sort day to day problems with bitcoin and different difficulties with it

hashtag101

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Quote from: Sled on August 07, 2017, 08:56:23 AM

Quote from: ss890 on August 07, 2017, 12:20:20 AM

There will be legality issue that would come in front of us when we will ask for using bitcoin to trade with other commodities. Bitcoin just not ready for standing amongst the other in the real world. This is like trading virtual assets with solid one.

Bitcoin does have a value and that is enough for me to allow by the government to trade other items with bitcoin just like the currency that we have right now. Bitcoin is not too different with fiat currencies and it doesn't need too much effort to use it so i think, it will become a great advancement if a country will allow bitcoin to be used as a currency.

The different of Bitcoin and currency as Dollar is Bitcoin not legal because all transaction use Bitcoin can't control or tracking source who is create this transaction and receive it? So it can't become currency for the world, maybe just for a large community user on the world's as in current until have some rules from government.

Topic: Bitcoin world currency - page 22. (Read 5797 times)