BTC as a national currency? - page 20.

logicgate

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Quote from: dameh2100 on December 02, 2017, 08:05:17 AM

Quote from: ZakariaKan1997 on August 14, 2017, 11:52:09 AM

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?

So far, bitcoin can not be a national currency. Due to the fact that bitcoin is very volatile when we use our daily cost we can have a problem. Furthermore, the transaction fee is huge for bitcoin whenever we send it. So for now, bitcoin cannot be a national currency.

You can expect anything to happen in this world. It is just a matter of time. At the very present moment, the market of bitcoin is not that much good as it should be and there are least chances of this thing to happen that bitcoin will become a national currency. The thing is bitcoin is very much capable of becoming a national currency and it will for sure help that country in a significant manner which will declare it as national currency.

barbara44

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Quote from: shark69 on December 02, 2017, 09:35:32 AM

for a while I think it's hard to make BTC a national currency. because, now there are some that prohibit BTC to enter into the country. even forbid users to play bitcoin

Volatility is the main thing that is bring huge profit and why not to declare it as national currency and for me if a region will declare it then no one will want to go to the European countries to earn, everyone will prefer to go and work in the bitcoin country and this bring more importance of that country on globe bitcoin is totally a blessing it blesses people and now it will be blessing who regions so progress and earn.

apumaycry

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no i dont think so bitcoin transaction is very expensive right now imagine you want to buy a coffe for 1$ but you have to pay about 6$ with 5$ fee and also bitcoin transaction is quite long i think if better use ethereum is better but yeah for now bitcoin can't be national currency maybe ethereum possibly

Kindless

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Quote from: ZakariaKan1997 on August 14, 2017, 11:52:09 AM

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 think Japan is the only country who accepted bitcoin as a nation currency, while other
goverment are trying to improve and create their own coin, anyway I don't know if these may be mined or not.

CreatePrivateServer

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No, because it's Virtual and not Physical.

0t3p0t

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Quote from: ZakariaKan1997 on August 14, 2017, 11:52:09 AM

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 think that there is no chances of Bitcoin to become a national currency for now because I know how hard it is to implement such new currency since majority of the people living in the specific country knows nothing about it and considering those critics and unsupportive innocent officials in the government who keep on discouraging people to stay away from it that which makes the resolution to take too long to be confirmed as national currency. We all know that in every state there were always be pro and anti and that's what make the system slow and inaccurate.

On my own I love it when it is fully adopted, legalized or it becomes a national digital currency because of the fact that we are free to use it but the problem is it will become a semi centralized since government has to take part and gather every information we have. In my case it is okay because all my income is only from signature campaigns and bounties but I know that some gamblers and HYIP earners hate it.

BitcoinBlack

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Quote from: Layonk on December 05, 2017, 09:16:32 PM

Quote from: BitcoinBlack on December 05, 2017, 09:04:03 PM

I don't believe Bitcoin will become a National Currency as it has high transaction fees and long transfer time. It won't be easy to use as medium of exchange but that makes it a great commodity to store value, it's already getting acceptance by some of the biggest exchange companies in Wall street, that will be a great kickstart for that path, only risk is it's value is too volatile, so it will never be as stable as gold at least for the next 2-3 years, it's still at state of high risk, high return.

I also agree bitcoin will not become national currency because of fee and time of tramsaction.
And also government will allow digital currency replace their own fiat currency. Its like impossible.

Definitely, that's another big reason. Not bitcoin but I think some governments might consider releasing their own crypto currency in the future which will be controlled by them.

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Quote from: BitcoinBlack on December 05, 2017, 09:04:03 PM

I don't believe Bitcoin will become a National Currency as it has high transaction fees and long transfer time. It won't be easy to use as medium of exchange but that makes it a great commodity to store value, it's already getting acceptance by some of the biggest exchange companies in Wall street, that will be a great kickstart for that path, only risk is it's value is too volatile, so it will never be as stable as gold at least for the next 2-3 years, it's still at state of high risk, high return.

I also agree bitcoin will not become national currency because of fee and time of tramsaction.
And also government will allow digital currency replace their own fiat currency. Its like impossible.

BitcoinBlack

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I don't believe Bitcoin will become a National Currency as it has high transaction fees and long transfer time. It won't be easy to use as medium of exchange but that makes it a great commodity to store value, it's already getting acceptance by some of the biggest exchange companies in Wall street, that will be a great kickstart for that path, only risk is it's value is too volatile, so it will never be as stable as gold at least for the next 2-3 years, it's still at state of high risk, high return.

charmaine08

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If btc will be a national currency can it effect its rate ??

runajailbr

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That cannot work its not everyone who have internet everywhere, even if you have lte if you don't have charge then you can't pay?
Thats not possible

emoji00

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Quote from: ZakariaKan1997 on August 14, 2017, 11:52:09 AM

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?

Nope. Having a national coin is linked to being able to develop a monetary policy. Bitcoin cannot be used for that.

cexylikepie

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Quote from: bitkanu on December 03, 2017, 02:12:08 AM

Quote from: sclmte on December 02, 2017, 08:51:01 AM

Quote from: Cacingkemi on August 14, 2017, 08:05:47 PM

Quote from: ZakariaKan1997 on August 14, 2017, 11:52:09 AM

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?

Could be yes and can also not. Become a national currency is too impossible, because bitcoin crypto currency that exist only in internet world, but can also yes in this world nothing is impossible

I guess it is impossible to happen. As we all know bitcoin is not acceptable in other countries. They even banned bitcoin for some reasons. Then going to a national currency? It is ridiculous. Bitcoin is tax free, so the central banks cannot gain any profits from it. And to make it as a national currency, the governments make sure they can manipulate the bitcoin. And surely, they will implement the tax.

Guess what? you have no clue at all, before saying something that you don't have idea or any clue, try to look how japan could get all those taxes from bitcoin and how they accept it as a legal tender.
The one that's ridiculous is not the idea of bitcoin becoming a national currency but it's just your closed minded brain that needs to be fixed, try to watch or read news more.

Simple, they supported the transaction fees of Bitcoin through exchange platform and did not tax any user of Bitcoin at first time. I remember they tried to give some money as reward for anyone accepts verify KYC in account of exchange, unlike global exchange, we have to spend much time to verify our account. And finally, after the people like to use Bitcoin and cryptocurrency, they can tax easily. Cool

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Quote from: sclmte on December 02, 2017, 08:51:01 AM

Quote from: Cacingkemi on August 14, 2017, 08:05:47 PM

Quote from: ZakariaKan1997 on August 14, 2017, 11:52:09 AM

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?

Could be yes and can also not. Become a national currency is too impossible, because bitcoin crypto currency that exist only in internet world, but can also yes in this world nothing is impossible

I guess it is impossible to happen. As we all know bitcoin is not acceptable in other countries. They even banned bitcoin for some reasons. Then going to a national currency? It is ridiculous. Bitcoin is tax free, so the central banks cannot gain any profits from it. And to make it as a national currency, the governments make sure they can manipulate the bitcoin. And surely, they will implement the tax.

Guess what? you have no clue at all, before saying something that you don't have idea or any clue, try to look how japan could get all those taxes from bitcoin and how they accept it as a legal tender.
The one that's ridiculous is not the idea of bitcoin becoming a national currency but it's just your closed minded brain that needs to be fixed, try to watch or read news more.

markdario112616

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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.

SillyCat

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it still has a long way to go. Not yet at this current stage..

rfouziha

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One thing we should understand that every country has their own currency they will not let it to be finish and have one currency that also cryptocurrency it is not possible I think so. Every countries financial sectors they have their own policy so they will not allow bitcoin cryptocurrency due to the rate hike which is not consistency it is versatile also we cant plan based on the bitcoin price.

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Quote from: ZakariaKan1997 on August 14, 2017, 11:52:09 AM

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?

For now, no that's because bitcoin is still unstable and very volatile. If we put bitcoin as our national currency our economy will go up and down and we don't want that in our country, bitcoin has still more things to improve before that happens, probably in the future it will but we can't be sure and we don't know whats in the future but I do think that bitcoin will surely rise up and be available all around the world.

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Quote from: reliable on December 02, 2017, 03:35:40 AM

Quote from: summer209 on November 29, 2017, 06:48:00 PM

Quote from: ZakariaKan1997 on August 14, 2017, 11:52:09 AM

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?

BTC has no national boundaries， it could be some countries' national currency, but the best thing would be that BTC become international currency, so every body can pay with BTC anywhere.

It would be a dream come true if BTC can become an international currency as then everyone in the world will start using the btc whenever they require and wherever they travel. the demand will be huge as all the people would start using it and the price would also become more stable and will be accepted everywhere.

Already it has gained an status to be a international currency with its anywhere accessible feature. Being a national currency is not at all possible, and to reach such an level it needs to fulfill lot of regulatory acts which is not possible with bitcoin or other digital currencies that we use it in different forms.

shark69

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for a while I think it's hard to make BTC a national currency. because, now there are some that prohibit BTC to enter into the country. even forbid users to play bitcoin

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