BTC as a national currency? - page 23.

Mahanton

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Quote from: katmalo.ak47 on November 28, 2017, 02:41:24 PM

Quote from: princessfalcon on November 28, 2017, 01:27:04 PM

Troubles if you went earn some cash investment is the right thing, I suggest foryou populous it's a gohoice. c od

The national currencies are completed because every nation has fixed their national currency, it is very long term thinking that bitcoin will be a national currency , because a national currency must be legal all over the world so that they can trade in it or they can exchange it for the trade with other countries. while bitcoin is now not legal currency all over the world.

That is the flaw of bitcoin which it isn't being recognized or regulated which means it is nearly impossible for it to be considered to become a national currency since any country do have its own local fiat which they do have the full control of it which means they cant easily replaced it with a decentralized stuff which is bitcoin this is why I do see this thing as an impossible situation to happen and be considered.

katmalo.ak47

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Quote from: princessfalcon on November 28, 2017, 01:27:04 PM

Troubles if you went earn some cash investment is the right thing, I suggest foryou populous it's a gohoice. c od

The national currencies are completed because every nation has fixed their national currency, it is very long term thinking that bitcoin will be a national currency , because a national currency must be legal all over the world so that they can trade in it or they can exchange it for the trade with other countries. while bitcoin is now not legal currency all over the world.

princessfalcon

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Troubles if you went earn some cash investment is the right thing, I suggest foryou populous it's a gohoice. c od

Sled

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Bitcoin- in bullish time

Quote from: Cointertrade on November 28, 2017, 09:10:51 AM

Quote from: ZakariaKan1997 on August 14, 2017, 12:52:09 PM

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 it is really hard to make bitcoin as a national currency because a lot of countries still didn't accepted bitcoin. So I think there is the possibility but then again it took a long period of time. So just hold on because bitcoin will continually grow.

Bitcoin will never become a national currency because people will might use it but the government are not in favor of using bitcoin as a national currency because a lot of people can take advantage to do some illegal activities like selling illegal drugs and firearms and it can also use in money laundering.

Cointertrade

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Quote from: ZakariaKan1997 on August 14, 2017, 12:52:09 PM

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 it is really hard to make bitcoin as a national currency because a lot of countries still didn't accepted bitcoin. So I think there is the possibility but then again it took a long period of time. So just hold on because bitcoin will continually grow.

Gabrieelle

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Quote from: A Feeder on November 28, 2017, 08:22:22 AM

Your question is kinda vague. Bitcoin can only be a national currency if the majority of the countries have high quality technology.

That is one of the factors that needs to be considered before bitcoin can become a national currency, if the total population are equipped with the technology to use bitcoin in every transaction of their daily life. Bitcoin is already known worldwide but to those places which don't have access to the internet still don't have the knowledge about cryptocurrencies.

hydeevanz

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Quote from: ZakariaKan1997 on August 14, 2017, 12:52:09 PM

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 will say No because obviously every countries has their own currency and besides bitcoin just get started and still on the process of waiting for the acceptance of different countries. Since bitcoin is a digital currency, probably the government won't allow this as the global currency because it will take so long to understand and they will consider a lot of facts about it.

Tux99

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Quote from: ZakariaKan1997 on August 14, 2017, 12:52:09 PM

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?

Of course not. Every country has already their national currency which is respected by their citizents.
Bitcoin is growing i know,but it will not make bitcoin can beat national currency.

A Feeder

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Your question is kinda vague. Bitcoin can only be a national currency if the majority of the countries have high quality technology.

Creepings

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Quote from: ripti on November 28, 2017, 07:55:32 AM

Bitcoin could not yet become a national currency. Why not, many countries in the world have not accepted it yet. Bitcoin needs more time to accept as a national currency.

More importantly, bitcoin is a decentralized digital currency, how can it be a country's national currency, it's feature as a decentralized currency will be stripped off.

And I also think even with a low chance of acceptance bitcoin will be a currency not as a national but a global currency, obviously the government will not allow a currency they can't control.

Galahad111

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Quote from: X-ray on November 27, 2017, 11:38:11 AM

Quote from: Granxis on November 26, 2017, 10:53:50 PM

Quote from: MakeMoneyBtc on November 25, 2017, 07:19:08 PM

It is impossible for bitcoin to become a national currency from a lot of reason. First of all the transaction fees are t high and also the time that it takes for a transaction to be confirmed is pretty big if you pay a small fee. If you want to buy a coffe or a juice you would have to pay 5-6$ for the product + 4-5$ the fee for transaction so at the end you pay double the price.

The second problem is the big fluctuations of the price. One day a bitcoin can worth 8000$ then the next day it worths 6000$. This will obviously affect a lot of merchants because most of them have to calculate their profits everyday or every 2-3 days.

Everyone complains that the transaction fees are high, but what does this have to do with the issue, do you think Bitcoin will not be a national currency because of high transaction fees?

I think yes, if the transaction fees on the bitcoin goes high and what will be happening with those are thinking about the crypto fees was so cheap compared with the bank transaction.
The people are using crypto to get an alternative way to get cheap transaction. just like if you are making a transaction and it cost 3 cent for each transaction.

It will be great. Not only national but, international currency l. Bitcoin is very strong cryptocurrency. I will not be shock if it will rise above all in this world. Cause we how effective and how wonderfull it is.

Altas

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Japan has given similar importance as the national currency to the bitcoin. As Japan highly believe in technology advancement, it took such an initiative and now the growth it has been experiencing is much big compared to that of other countries. In future looking it's growth other countries too might give preference similar to national currency.

bitliteethdashneo

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BTC is international , just like internet. It should have been named interbarter or interex or intercoin in larger interest of bit-ignorant public.

ripti

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Bitcoin could not yet become a national currency. Why not, many countries in the world have not accepted it yet. Bitcoin needs more time to accept as a national currency.

shezu007

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this will be an excellent when bitcoin will become as a national currency but remember that bitcoin is still not have get such high popularity and value in world that it will become national currency. still bitcoin need large performance and time to get maximum number of users and their interest and become legalize then the probability of acceptance will be increased.

s2

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My hunch is it will never be a country's currency because a country almost by definition needs it's own currency to control supply, allow national debt (which is generally a good thing btw, not deficit which is generally a bad scenario), and enable taxes to be tracked accurately.

That said, I see it almost inevitable that a cryptocurrency will back a nation's currency eventually and why pick anything but the most decentralised secure chain to do this with... at the end of the day backing a currency is about showing the national currency has tangible value outside of the country.

We may see the nations like Venezuela, Iceland, Zimbabwe adopt a cryptobacking approach first starting others to follow suit. There is very little drive for more wealthy nations to adopt cryptobacking just yet so ironically these messed up economies may end up receiving a massive transfer of wealth as more countries need to adopt an official exchange rate of local currency to bitcoin.

The on/off ramps to crypto however are likely to be heavily regulated, seems only sensible at this stage but even this may change over time.

neonshium

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Quote from: batang_bitcoin on November 23, 2017, 03:25:25 AM

Quote from: Fulmand on November 23, 2017, 02:15:46 AM

Quote from: batang_bitcoin on November 23, 2017, 01:54:33 AM

Quote from: larrylegend33 on November 20, 2017, 09:14:38 PM

There is no way! Bitcoin can't be a any nations currency, it's impossible. No one would let this happen. But i think that BTC will be all countries currency soon. Around 2020.

There's a way you know that bitcoin has been used everywhere you are. And in everywhere country I guess there's a bitcoin user, bitcoin doesn't have to be a national currency because it's also being used as everyone's currency that are mostly living in the web. Government is obviously not going to give an idea to people that they will be adopting a cryptocurrency that is decentralized, if they to use a cryptocurrency as national currency, they will just make one.

Bitcoin are heading to a national currency not this year but soon. Bitcoin is still in the beginning of development. Still on many debate to make the bitcoin could afford of so many transaction per second. Other factor that may have a hig problem is bitcoin volatility, whi h always flactuate.

I don't have any insights or never heard of a rumor that bitcoin will be used a national currency. I'm thinking more of it as a secondary payment method or an alternative currency but government will never declare it as a national currency. That's a big deal when a country calls bitcoin as their national currency, they are taking a big risk for doing it so and besides not all the people can adopt this such technology.

This is just the beginning of an era of bitcoin as well as all other crypto currencies which are there in the world of crypto currency. Bitcoin is very much capable of becoming a national currency but the thing is it is too early for this thing to happen.

This will of course take lot of time and the government actually needs some time for thinking of making some good decision in the coming days.

muhammad-adnanzain

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No, bitcoin is not a nation currency because currency is an identity of the nation, every nation have own currency that custom to regulate on their nation.

allthingsluxury

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I could see a poorer country doing this in a time of crisis.

Marivic13

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Quote from: ZakariaKan1997 on August 14, 2017, 12:52:09 PM

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 my own opinion ,Bitcoin can't be a national currency because govs won't let it be...
We're still in the beginning of bitcoin development, still on scale debate to make bitcoin could afford so many transaction per second and we shouldn't pay a higher fees. Another factor that may a big problem is bitcoin volatile, a country can't adopt a currency which always fluctuate, even third world countries in Africa using US Dollars as their legal currency. And also because. Once that Bitcoin will become a national currency people living in poor countries will be affected because they don't have the modem technology to use in their transactions and it's very hard to use especially when you buy on small stores and also in paying small transactions...

Topic: BTC as a national currency? - page 23. (Read 12591 times)