Topic: BTC as a national currency? - page 14. (Read 12619 times)
yet there are limitations to become national currency - cost of transactions, speed, scalability. though i would imagine that future national currency might be blockchain based
So as far as we know BTC currency is growing wide, do you think there will be when it become a national currency?If yes, why?If not, why?
I don not think so because theur value are not stable as simple as that. Because people do jot wanted to lose money while doing nothing people just wants the positive side of being volatile. The increasing of the bitcoins are the people wants but we cannot say how long will the bitcoins will pump what if in the future when they will be a national money they will soon dump whatbwill happen to the value of the peoples holding they will decrease and they do not want that so they will definitely gonna be a national money knowing also that they are decentralized.
The reason of the Bitcoin price increase and decrease is the law of the demand and the supply which is the price is based on it. How will bitcoin or any other crypto currency be a national currency since it is decentralized, and that is the reason why country will never accept bitcoin as a fiat or a real fiat currency, because of it's unstability, the government are not that stupid.
So as far as we know BTC currency is growing wide, do you think there will be when it become a national currency?If yes, why?If not, why?
Bitcoin as it stands cannot be a national currency. One of many reasons is the volatility of bitcoin. As we all are not oblivious of the fact that the price of bitcoin is very volatile, then there won't be a fixed price for goods and services. There will always be increase in the price of goods with respect to the price of bitcoin.
Another reason bitcoin cannot be used as a national currency is the fact that it requires the service of the internet to work. As internet services is not always available, especially in developing countries, there will be no way for transactions to take place.
I believe, if in the nearest future, these problems are put into consideration and solutions are proffered to them, then bitcoin may be used as a national currency.
bitcoin doesn't belong to any country and people...how can it become national? I don't see any reason or sense in this
So as far as we know BTC currency is growing wide, do you think there will be when it become a national currency?If yes, why?If not, why?
I don not think so because theur value are not stable as simple as that. Because people do jot wanted to lose money while doing nothing people just wants the positive side of being volatile. The increasing of the bitcoins are the people wants but we cannot say how long will the bitcoins will pump what if in the future when they will be a national money they will soon dump whatbwill happen to the value of the peoples holding they will decrease and they do not want that so they will definitely gonna be a national money knowing also that they are decentralized.
I don't think it will be a national currency. First and foremost, because of political differences involves it will be even passed as a bill. Secondly, because transactions can be done anonymously there is a security factor that needs to be fixed.
I doubt it, even though Bitcoin is really dominating nowadays and the fiat's value grows weaker, we can't really use it as a national currency for its volatile and erratic nature, people will have a tons of problems with the value changing now and then in a huge margin, compared to the typical currency price change. the other thing is that its decentralized, so no one can manage and control it so i really don't think that it will be national currency.
So as far as we know BTC currency is growing wide, do you think there will be when it become a national currency?If yes, why?If not, why?
I don not think so because theur value are not stable as simple as that. Because people do jot wanted to lose money while doing nothing people just wants the positive side of being volatile. The increasing of the bitcoins are the people wants but we cannot say how long will the bitcoins will pump what if in the future when they will be a national money they will soon dump whatbwill happen to the value of the peoples holding they will decrease and they do not want that so they will definitely gonna be a national money knowing also that they are decentralized.
So as far as we know BTC currency is growing wide, do you think there will be when it become a national currency?If yes, why?If not, why?
Being a national currency means that it will be a symbol of the culture of that certain country as an identity. Bitcoin is a digital currency, decentralized and is an open source. Do you think it is even qualified to be such thing as national currency? Not to be negative about Bitcoin but being a national currency is not just an entitlement. Bitcoin still a successful currency.
That would be ok if BTC will be a national currency. I think there is no problem with that. We can still use it to buy or purchase the things we like. The bank i think accept bitcoin and people are using bitcoin. I guess theres nothing wrong with it. At least we have a lot of choices of how we pay aside from a credit card and a cash. Sooner or later some other countries will support btc since people are massively joining. And i think the government is not against with bitcoin.
If Bitcoin became the national currency then Bitcoin users will the most happiest people on this Earth but I don't see it as a national currency yet.It has many advantages but it is still not supported by many of the countries which is it's major drawback. So it needs the support of government in order to become the national currency.
I hope so but it is very difficult to implement a digital currency as national currency of any country. Like if we look at the countries’ currencies every currency is established from the first day of that countries establishment. So it is not that much easy to say that bitcoin can be a national currency of any country but still we can hope for this.
So as far as we know BTC currency is growing wide, do you think there will be when it become a national currency?If yes, why?If not, why?
Yes, there's a great chance that it may also happen but not in all areas because some areas can't go with the flow of technology ang can't afford to have the latest technology like gadgets and internet unlike with cash they doesn't have to have an Internet connection and new gadgets.
National? Maybe in a country who will accept bitcoin. A country that will support bitcoin not banned it. If that time comes other country will support too if they know what bitcoin could did to a poor country. That someday even a poor country will be a riches country or maybe they will not left behind.
If the country accept bitcoin for sure many people will become a rich someday, i can say bitcoin can be a national currency because you can exchange it into your local currency .
national Currency? I'm actually thinking Global Currency. It won't replace Fiats yet, but it will soon have its own place through gradual changes. Slowly but surely.
An internationally recognized and accepted form of payment? Yes. A national currency i don't think so, given the very simple fact that Bitcoin is decentralized. I think what is more likely to happen is governments and countries will create their own crypto's. Apparently, countries like Venezuela and Cuba are already looking into creating their own crypto due to fears in collapse of fiat. I think that this is very much the way to go, fiat will fail at some point worldwide. I think what might be a major point is if and when USD fails or at least appears like its going to fail, cryptos will become mainstream.
I was gonna write very similar things. It's already a global payment method for the entire wotld. But it's not gonna be a national currency or worldwide currency because countries never let this happen.
Btc as a national currency? Easy to be said than done. In order for Btc to become national currency it needs a long long term process and alot of debates to be undergone.
An internationally recognized and accepted form of payment? Yes. A national currency i don't think so, given the very simple fact that Bitcoin is decentralized. I think what is more likely to happen is governments and countries will create their own crypto's. Apparently, countries like Venezuela and Cuba are already looking into creating their own crypto due to fears in collapse of fiat. I think that this is very much the way to go, fiat will fail at some point worldwide. I think what might be a major point is if and when USD fails or at least appears like its going to fail, cryptos will become mainstream.
So as far as we know BTC currency is growing wide, do you think there will be when it become a national currency?If yes, why?If not, why?
Not because bitcoin does not really exist. Anf in order for bitcoin to be a national currency it should not use dollars a a means of transaction through bitcoin. Yes bitcoin is already too popular all over the world but we cannot have a national currency that is virtual and no material to be used in transacting to the market. In my point of view bitcoin should only be used to raise your funds and not to be a worldwide cureency.
Bitcoin is already being an international currency even tho not more than 10% of the world popularity know about it . It's the only currency that can be exchanged to any fiat one and you can use it anywhere to either pay directly in bitcoin or transfer it to whatever currency you want . Bitcoin has certainly made a revolution in the monetary system as well as the wealth map of the world and it's still going to make much more improvements to the world .
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