Topic: Bitcoin world currency - page 25. (Read 5797 times)

I think we are almost there and we are in the middle of the road before we reach our destination. It's just a few more challenges on bitcoin before it makes it way to it's full objective which is to be used by all countries.

It is possible but not in the next couple of decades. There is only a very small percentage of bitcoin users as compared to the world's population. It is beginning to be famous but more as an asset or a precious possession rather than a payment stuff like money.

I think it is possible to used Bitcoin to purchase anything from all over the world that was the purpose of Bitcoin being created, but it is not that simple, we still need time to persuade people to used Bitcoin, we need to prepare Bitcoin to be able being used in global transaction without any problem, so Bitcoin still need time to be a perfect world currency

there is still a long way for bitcoin become a world currency i think

some country still hostile to bitcoin .

You are right, I misspoke. I meant the supply chain of consumer goods instead of everyone. Producers/ raw material  processors would need to accept btc, which mean the folks that construct the factories, and the workers in the factory, would have to accept btc. next. the people that buy these raw materials to turn into consumer products would need to be able to buy them in btc, and sell them for btc. which leads to the warehouses, and finally the consumer storefronts, who would need to accept btc as well as pay wages in btc. So finally, the consumer would need to buy the product in btc, meaning btc would have to be ubiquitous enough to be a common form of value.

all that, seems like a LOT of adoption. and we just barely solved scaling. essentially, bitcoin will be long dead and another alt will have taken its place at this point. after all this time, bitcoin is still bleeding edge and unadopted. it will take a fresh age for the level of adoption needed to foster this.

I remember hearing about bitcoin printed out like bills too, not a paper wallet but an attempt at a bitcoin fiat. Now that I think about it, it pretty much would be a paper wallet, the key to the funds would be required unless  there was a trusted, centralized issuer. which flies in the face of what bitcoin represents

Btc printed on paper? I remember there is someone who did it before, a physical form just like Casascius physical bitcoins, but I can't find the any links about it.
I do not agree if we need everyone to use bitcoin in order to buy commodities all over the world.
Because, we can do it by contacting someone whether in this forum or outside, who provides something that you need, even though it's risky and you can buy it in the country. But, if more countries legalize bitcoin or isssue some regulations about bitcoin as a legal payment, then it will be easier and become a great support for bitcoin growth.

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.

Bitcoin can be said to be an alternative to paying and transacting easily through the internet, if you want to buy something or anything you want if the seller accepts payments using bitcoin then you can do it quickly.

We can reach tot that point where all of the people here are using bitcoin or if not all, but most or the majority of the people uses bitcoin. It will affect the economy because it will give a fast transactions or payments which can boost the receiving method of income. Bitcoin is a new and great technology and it will change the world in the future.

With the current situation, no i don't think it is possible. Everyone will have to be using bitcoin. Third world countries that do have access to the internet will be left out. Will create more problems for them. Price stability is needed and legal issues is  another problem that will hold us back from making it the world currency.

I am sure that bitcoin will be used by more people in the future as it is a secure store of value and fast and low cost payment method but can't be a world currency even if it is used in every place of the world however it shows that there will be one world currency in the future. A world currency probably will be centralized, regulated and not limited supply

It sounds great, but not now.But its possible to happen in the near future, I can say this because there are some transactions that bitcoin can be used and its already started already. And we know also that today's development in the field of cryptocurrency is quite obvious that is fast growing.

I think this will be along process, since countries have their own currency but its not just that, every currency has its own history and justifies the sovereignty of that country. Making it impossible for cryptocurrency to fully replace the existing currencies of countries.

Yes, right now what we have got is limited access to shopping. In future this will change when more people starts using bitcoin and most of the stores will have bitcoin as one among the payment. Now for our requirement we're supposed to search hard and find the right person and make the transaction using escrow or through service renders similar to bitpay.

Is it possible bitcoin to be world currency ??
What is the right payment tool in all countries is bitcoin??
I think it will affect the world economy.
There are still many problems and polemics as they occur, and there are many pros and cons between countries ..
maybe when bitcoin becomes world currency, i think it is still too early.

No.
This would require everyone to use bitcoin. For obvious reasons, bitcoin cannot be used everywhere (or outside of a wifi field, for that matter). there are some situations where you simply cannot avoid fiat; physical tokenized value just makes a lot of sense for the way that we conduct business in this day and age.

Moving on to the network. Scaling be damned, if we attempt to process even a fraction of the transactions ACH sees in a day, your miner would ignite in protest we would need to do alot to accommodate all that traffic. and to be honest, it would be inefficient to use the network in this manner. fiat is very quick, very clean. the only processing power you need is the calories you used to give a person back change.

while bitcoin is groovy, fiat is the boss daddy.

but if you can print out btc paper dollars, well, that changes everything.

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.

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.

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.

It is possible, but for now you can not purchase all commodities because not all of business or companies accept bitcoin payment.
Please check this board https://bitcointalk.org/index.php?board=51.0, and you may find people sell and buy various goods such as computer hardware, tshirt, electronics, car accessories and even you can buy a house. As long as you can fulfill all necessary documents and hire a lawyer and realtor in some cases.