Less suitable if bitcoin becomes the currency of the country. because the nature of bitcoin is as a digital investment is not a currency. but I'm sure maybe there will be new things in the future that will make the revulation in the currency
bit difficult if bitcoin wants to become a currency. because the bitcoin itself now also gets a lot of pressure. maybe this is also a political step to get bitcoin down 
Topic: BTC as a national currency? - page 2. (Read 12619 times)
Less suitable if bitcoin becomes the currency of the country. because the nature of bitcoin is as a digital investment is not a currency. but I'm sure maybe there will be new things in the future that will make the revulation in the currency
As of the moment, Bitcoin is still in the progressive stage and not all citizens of a country are aware about Bitcoin. Yes Bitcoin already shown the potential but not to the point that it will replace the current currency of a country. Bitcoin must pass (if ever) the tribunal comunity of a Government to be accepted as a mode payment and let the process dictates whether it has the capability of being a National Currency.
Yes Bitcoin is awesome and all but I really don't think it is suitable and ready to be a national currency of any country. Its volatile nature and being digital will not be a reasonable in using for a daily usage for regular people who would buy stuff from wet market, small book shop and some kiosk newsstand. I believe that Bitcoin is a great digital currency and it will remain as it is but it will not be a national currency of any country.
Yes, correct. I don't thing BTC will going to be a national currency. Maybe it will represent like gold but not the currency itself. Maybe a basis to create a legal tender in terms of another crypto that will be use as the national currency. If one countries assets, like gold or any other resource will be tokenize, then bitcoin could be the basis of this. Then from there, another crypto should be release by the government as legal tender. Bitcoin itself, no.
This view overwrites bitcoin may be too heavy. Are you sure that when you use the money in your country without loss? Not only because of the bitcoin but also of any currency, there are always scammers who want to seize it if we do not care and privacy. Each currency is valid in every country but bitcoin is not dependent on any country so it is always taken care of by scammers.
Yes Bitcoin is awesome and all but I really don't think it is suitable and ready to be a national currency of any country. Its volatile nature and being digital will not be a reasonable in using for a daily usage for regular people who would buy stuff from wet market, small book shop and some kiosk newsstand. I believe that Bitcoin is a great digital currency and it will remain as it is but it will not be a national currency of any country.
Seeing it go to 20k, then down to 6k then up 11k, then 7k, even it suddenly becomes stable for many years, I just can't see a country using it as a national currency.
I strongly believe that this would NEVER happen. First and foremost, how can one even expect a decentralized currency to take over as the national currency?
Second, only a small percentage of the world knows what Bitcoin and CryptoCurrency is, and it would take years for people to understand it.
Third, given the extreme volatility of Bitcoin, no one would ever consider it to be equal to fiat money. It can make people go bankrupt within days and might lead to more suicides.
Hence, it would NEVER be considered as a national currency.
Second, only a small percentage of the world knows what Bitcoin and CryptoCurrency is, and it would take years for people to understand it.
Third, given the extreme volatility of Bitcoin, no one would ever consider it to be equal to fiat money. It can make people go bankrupt within days and might lead to more suicides.
Hence, it would NEVER be considered as a 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?
This will never happened cause first things firsy government wil never agree to this, rhey will not allow a decentralized currency rule the world due to the fact that they cannot have the rights to control, how about the tax? Rhis will be non existent if the national currency will be Bitcoin and a cashless society will not be a great idea. Bitcoin, for now, is not suitable to become a national currency of any country. Bitcoin's value is too volatile so a product or service will always change in price with respect to the price of Bitcoin. Also, a transaction fee is there with every transaction, this is not practical in using in a daily basis. It will be hard for the government to control the scenario. So if a country will make Bitcoin as its national currency then they have to regulate it first.
I quite agreed with you that bitcoin is too volatile to be used as a national currency , bitcoin being volatile will cause inflation in that particular country that adopted it as a national currency and coupled with the fact that bitcoin is decentralized I.e it is not controlled by anybody will even makes it much more difficult to be used as a national currency.widely that Bitcoin can not be the national currency of any country because Bitcoin is not suitable for daily transactions.
Bitcoin can never become national currency. Bitcoin still not popular enough, Most of people don't know what is bitcoin. So first bitcoin has to become popular and on the top its a banned currency in most countries. Government will never accept it due to its disadvantage and fact called "anonymous".
But i think some countries have already accepted bitcoin as legal currency, and we have a very good example of Japan who have a very strong economy and still they accepted bitcoin as legal currency, i think that in future so many other countries will also accept bitcoin as legal currency because of the good feature of bitcoin and people interest. The government can not make their country become a country for other countries make money.
I think this reason made the Chinese government decided to banned cryptocurrency.
Bitcoin will not go to be a national currency because the government does not accept bitcoin because of the decentralized system. And if it becomes a national currency, I think there will be no control from the government and in banking. And some strong country can build their own national digital currencies if they need it in future.
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?
To become a national currency it must have a positive influence over the politicians or rather giving them no other option then to accept it like a fiat coin, till then i can tell that BTC is an international coin. 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?
Why not!Its a big possibility for that because btc now makws people unforgetable experience for earning income.Maybe its not only national currency but i must prepare for international currency because it was really a demand to all over the world right now.
If bitcoin became a national currency, it's decentralized feature will be brought down that means bitcoin will not be decentralized anymore. That also means that bitcoin will not also be a volatile digital currency since they are not decentralized anymore and the government will control it's number and circulation and that will be a disaster for some bitcoin users.
And the "unforgettable experience" you are saying about earning income will become no more.
Bitcoin can never become national currency. Bitcoin still not popular enough, Most of people don't know what is bitcoin. So first bitcoin has to become popular and on the top its a banned currency in most countries. Government will never accept it due to its disadvantage and fact called "anonymous".
But i think some countries have already accepted bitcoin as legal currency, and we have a very good example of Japan who have a very strong economy and still they accepted bitcoin as legal currency, i think that in future so many other countries will also accept bitcoin as legal currency because of the good feature of bitcoin and people interest. Bitcoin can never become national currency. Bitcoin still not popular enough, Most of people don't know what is bitcoin. So first bitcoin has to become popular and on the top its a banned currency in most countries. Government will never accept it due to its disadvantage and fact called "anonymous".
But i think some countries have already accepted bitcoin as legal currency, and we have a very good example of Japan who have a very strong economy and still they accepted bitcoin as legal currency, i think that in future so many other countries will also accept bitcoin as legal currency because of the good feature of bitcoin and people interest. 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?
Why not!Its a big possibility for that because btc now makws people unforgetable experience for earning income.Maybe its not only national currency but i must prepare for international currency because it was really a demand to all over the world right now.
Bitcoin can never become national currency. Bitcoin still not popular enough, Most of people don't know what is bitcoin. So first bitcoin has to become popular and on the top its a banned currency in most countries. Government will never accept it due to its disadvantage and fact called "anonymous".
A national currency of what? There isn't a so called bitcoinland as this member put itThat's a lucrous question))) It cannot be a national currency.. A currency of what? A Bitcoinland? We could found one on Mars, if Saudi Arabia succeed in their new space project.. By the way, a good idea, as it will not be really convenient to have fiat money there...
But yeah if they do colonize a place on mars then they can dedicate a currency for whatever coin there will be by then. As I doubt bitcoin will be still a viable solution by then. As the blockchain will survive but all other coins can be replaced with something better then what we currently have.
That's a lucrous question))) It cannot be a national currency.. A currency of what? A Bitcoinland? We could found one on Mars, if Saudi Arabia succeed in their new space project.. By the way, a good idea, as it will not be really convenient to have fiat money there...
Bitcoin can never become national currency. Bitcoin still not popular enough, Most of people don't know what is bitcoin. So first bitcoin has to become popular and on the top its a banned currency in most countries. Government will never accept it due to its disadvantage and fact called "anonymous".
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