Topic: Bitcoin world currency - page 23. (Read 5822 times)
Yes it is possible as many of the countries are legalizing bitcoin this make it very helpful to make it a world currency that can be use anywhere in the world.
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.
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.
What you mean by buying all commodities? Like making Bitcoin replacing the "mighty" USA Dollar as the mode of international commerce? I don't think that can be coming soon. The big reason why we have the USA Dollar is because of its relative stability and it is backed by the supposedly "mighty" USA government (not anymore with gold). Now, these things are not features of Bitcoin.
The only thing going for Bitcoin is that it is backed by the people who are using it right now. Though it has intrinsic value in itself, without this support of the people who are holding Bitcoin right now it is actually nothing.
On the other hand, it is really impossible to buy all the goods or commodities in this world using one currency. Bitcoin is not enough for that and it will just artificially ballooned the value of Bitcoin. But we can all use Bitcoin to buy goods or to shop online there is no question on that.
You have a good dream actually but this is not yet supported by the weight of the market reality.
The only thing going for Bitcoin is that it is backed by the people who are using it right now. Though it has intrinsic value in itself, without this support of the people who are holding Bitcoin right now it is actually nothing.
On the other hand, it is really impossible to buy all the goods or commodities in this world using one currency. Bitcoin is not enough for that and it will just artificially ballooned the value of Bitcoin. But we can all use Bitcoin to buy goods or to shop online there is no question on that.
You have a good dream actually but this is not yet supported by the weight of the market reality.
All good points, interestingly the Swiss franc is always seen by experts as more stable than USD but isn't as popular. So in a way popularity breeds popularity, I think we have to see BTC and other cryptos not in the same way at all as traditional currencies, they can exist side by side, that is my hope anyway.
Yes of course it can be done but it should take several years later, and we all definitely expect bitcoin currency to be the accepted alternative currency in all countries so that all businesses or companies can accept payment using bitcoin.
What you mean by buying all commodities? Like making Bitcoin replacing the "mighty" USA Dollar as the mode of international commerce? I don't think that can be coming soon. The big reason why we have the USA Dollar is because of its relative stability and it is backed by the supposedly "mighty" USA government (not anymore with gold). Now, these things are not features of Bitcoin.
The only thing going for Bitcoin is that it is backed by the people who are using it right now. Though it has intrinsic value in itself, without this support of the people who are holding Bitcoin right now it is actually nothing.
On the other hand, it is really impossible to buy all the goods or commodities in this world using one currency. Bitcoin is not enough for that and it will just artificially ballooned the value of Bitcoin. But we can all use Bitcoin to buy goods or to shop online there is no question on that.
You have a good dream actually but this is not yet supported by the weight of the market reality.
The only thing going for Bitcoin is that it is backed by the people who are using it right now. Though it has intrinsic value in itself, without this support of the people who are holding Bitcoin right now it is actually nothing.
On the other hand, it is really impossible to buy all the goods or commodities in this world using one currency. Bitcoin is not enough for that and it will just artificially ballooned the value of Bitcoin. But we can all use Bitcoin to buy goods or to shop online there is no question on that.
You have a good dream actually but this is not yet supported by the weight of the market reality.
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 possible that bitcoins can be used in buying commodities in other country since it is already used in transactions but for now we don't have to rush things because if you considered the entire world it will really take a long time before it happens. At least you know that bitcoin is used in other country like Japan.
Today bitcoin advances continue to rise, as digital currencies that have the highest value among other coins in the crypto market certainly have good progress for the future both as trading assets and investments even as a means of payment transactions and maybe someday bitcoin has a function that Equivalent to the real currency.
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 will be possible we can use bitcoin to buy everything, but I believe it will happen to the future. Because right now only some countries agree on the existence of bitcoin, and they are mostly developed countries whose inhabitants have used sophisticated technology in their daily activities. But for developing countries because some reasons, they still use alot of fiat money for buying commodities in their place, but I'm sure with the rapid development of technology today is not impossible it will change the minds of people around the world, and then it's possible to use bitcoin as cryptocurrency To buy everything with only one click on your phone.
Bitcoin will be utilized by more individuals later on as it is a safe store of significant worth and quick and easy installment strategy yet can't be a world money regardless of the possibility that it is utilized as a part of each place of the world anyway it demonstrates that there will be one world currency later on.
I live in the U.S.
The biggest hurdle for BTC becoming a WORLD currency is the inability to tax it appropriately.
It's discussed in the media here a lot. The government will implement regulations once they are able to correlate a loss in tax revenue to transactions.
The citizens and consumers can fight back, but to what end?
The biggest hurdle for BTC becoming a WORLD currency is the inability to tax it appropriately.
It's discussed in the media here a lot. The government will implement regulations once they are able to correlate a loss in tax revenue to transactions.
The citizens and consumers can fight back, but to what end?
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 has a great influence on the world currency, when a virtual currency increases in value, namely bitcoin, so many people will spend a lot of money to buy it, the value of bitcoin increases, market capitalization increases. , But the real money is gradually losing, a huge influence.
Yeah, it is possible, but not very probable. First of all, if everyone did switch to Bitcoin, governments would feel threatened. And once the governments feel threatened they would ban Bitcoin.
Moreover, the economy would fall quickly. Since no one has any way of confirming that a wallet has a certain amount of Bitcoin in it, (If you own the private keys, that is) governments can’t tax Bitcoin. Well, they can, but it will depend on the sincerity of the citizens. They would have to honestly fill out tax forms and submit it to the government. Otherwise, the economy would fall. But when you think about it carefully, who cares about a fiat economy if everyone is using Bitcoin?
This is what I speculate. If I am wrong, please do correct me.
Moreover, the economy would fall quickly. Since no one has any way of confirming that a wallet has a certain amount of Bitcoin in it, (If you own the private keys, that is) governments can’t tax Bitcoin. Well, they can, but it will depend on the sincerity of the citizens. They would have to honestly fill out tax forms and submit it to the government. Otherwise, the economy would fall. But when you think about it carefully, who cares about a fiat economy if everyone is using Bitcoin?
This is what I speculate. If I am wrong, please do correct me. 
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 has a great influence on the world currency, when a virtual currency increases in value, namely bitcoin, so many people will spend a lot of money to buy it, the value of bitcoin increases, market capitalization increases. , But the real money is gradually losing, a huge influence.
I think you can convert bitcoin to cash in any moment in whole world already, its nothing new for bitcoin community. Bitcoin is world currency, we have talk about it here even more then a year ago here, and this year some countries recognized bitcoin as legal currency, that is a good sign and that will continue in the world, bitcoin soon will be legal and official world currency, but it is that even now from my view.
Anonymity will be in second plan is what I think, but we will see, some other altcoins offers more anonymity then bitcoin now.
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's quite possible if all commodities receive payments with bitcoin, making payments using bitcoin has a great effect to help the economy go the better way, as it will expand their marketing and will attract more enthusiasts around the world. 
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.
In my opinion? It will not happen. Because if it does the crocodile politics will starve to death
or they will demand tax from it and what will be left to us? Droplets. Left overs. And if it happens like that no one will support bitcoin anymore i think.. so for me better be left like that. We enjoy the fruit of our labors with no other competition, no tax and no sharers. 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 has a great influence on the world currency, when a virtual currency increases in value, namely bitcoin, so many people will spend a lot of money to buy it, the value of bitcoin increases, market capitalization increases. , But the real money is gradually losing, a huge influence.
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.
We can buy goods in many parts of the world by Bitcoin but we can only buy in countries where Bitcoin is accepted or legalized. But most of the time, we all have to pay Bitcoin by scanning the QR code, so i'm expecting something like a VISA card
Yeah, the world of bitcoins is widening and it is a good thing for everyone. Bitcoins can be used to buy services like VPS, VPNs, prepaid credit cards, and other online service. What's good is that even physical goods like laptops from Dell USA can be bought using bitcoins. Also even steam offers its games for bitcoins. Pretty awesome time for bitcoins.
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.
We can buy goods in many parts of the world by Bitcoin but we can only buy in countries where Bitcoin is accepted or legalized. But most of the time, we all have to pay Bitcoin by scanning the QR code, so i'm expecting something like a VISA card
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.
That can happen because Bitcoin is used all over the world. Besides, just have internet as we can access and Bitcoin 'transactions. Bitcoin does not discriminate who you are, where you are or what you do. Just you know Bitcoin
i think it is not bound to any specific country or any territory to opperate this is the best thing of it.
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