Pages:
Author

Topic: BTC as a national currency? - page 25. (Read 12619 times)

hero member
Activity: 998
Merit: 504
November 21, 2017, 08:35:56 AM
It is impossible that bitcoin becomes a national currency because it is still in the process and it's volatility so the price will change varies prior to bitcoins. For most of the countries it will hard for them the regulate it. We'll expect this for the future.
What you said doesn’t really make any sense. And what do you mean by being Centralized and some countries not being able to regulate? Please, stop deceiving yourself, bitcoin can never be centralized, it was made a decentralized currency, and that’s what it will always remain. The only thing governments will create their own coins issued out through banks to the citizens which will be centralized and controlled by that government. But all that won’t really make any sense.
newbie
Activity: 36
Merit: 0
November 21, 2017, 06:23:15 AM
No because it design to be bank (only exchange coin between countries with small fee) and not coin for buy/sell normal things
hero member
Activity: 2702
Merit: 672
I don't request loans~
November 21, 2017, 06:19:05 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?
It is not really possible. In the first place, what country will make it a national currency? Butcoin is decentralized and is an open source system so no one clearly owns it. It may be an international currency since it is used in some countries at this moment. But a national currency symbolises a country as a whole and a decentralized currency will not be something such as that.
sr. member
Activity: 602
Merit: 250
November 21, 2017, 05:24:06 AM
In my opinion it is impossible because people more gladly use real money because think it is more safe, and i think that too. If bitcoin will be national currency will increase numbers of scam.
member
Activity: 154
Merit: 10
November 21, 2017, 05:21:18 AM
Bitcoin as a national currency it is not possible. Each and every country has their own currency which will never give up the traditional value and according to their financial policy the value of each countries currency vary. So cryptocurrency wont be a national currency at any cost and any moment that's for sure.
hero member
Activity: 998
Merit: 504
November 21, 2017, 05:11:01 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?

In order to become national currency, cryptocurrency should be regulated and issued by government, therefore, it wouldn't be cryptocurrency anymore as it would become fiat
One thing I believe makes everyone like Bitcoin is the fact that it is decentralized, and for it to be a national currency, it will stop being decentralized. I don’t know if you guys really know what a national currency means– national currency is a currency that is being used by a country, which means that it is Centralized, unlike Bitcoin which is decentralized.

So if Bitcoin is going to be regulated and become a national currency, it will be used by a particular country and not everyone in the world. So bitcoin will never be a national currency, that’s stupidity.
member
Activity: 74
Merit: 10
November 20, 2017, 11:32:14 PM
It is near impossible for any country of the world to make Bitcoin it's National currency. The reasons are not far fetched. Bitcoin has a generic characteristics that will make it a herculean task to domesticate as a National currency. Secondly, Bitcoin lacks regulation and there are no legal framework or monitoring structure around it hence, making it a bit vulnerable to uncertainties. National currencies are unique and symbolic to countries and are often categorised as National symbols. It will be difficult to do this with Bitcoin considering that it is a virtual currency.
legendary
Activity: 1148
Merit: 1006
Black Panther
November 20, 2017, 11:02:30 PM
National currency for which country? because although bitcoin is well known by public there is no guarantee from a country that bitcoin will become the national currency. and also many considerations about  bitcoin currently against a government policy.

IMO bitcoin can't replace fiat as legal currency because they are different and can't be compare.
So even if bitcoin being legalized, people may still use fiat and bitcoin ( as alternate currency )
full member
Activity: 602
Merit: 129
November 20, 2017, 11:00:53 PM
I Dont think it will be possible on any other country to announce this to  their nationality or their sole currency. Then about the problm to countries that bitcoin is decentralized and canot be controlled by any other countries so it will be a hassel and reputation is where we talked about this.
newbie
Activity: 28
Merit: 0
November 20, 2017, 11:00:38 PM
I think the US government is developing its own cryptocurrency right now, which might become a national currency
full member
Activity: 453
Merit: 104
November 20, 2017, 10:58:58 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?
No, bitcoin will not become a national currency, the most probability is each government will create their own cryptocurrency which only they who can mine it.
full member
Activity: 378
Merit: 100
November 20, 2017, 10:52:33 PM
National currency for which country? because although bitcoin is well known by public there is no guarantee from a country that bitcoin will become the national currency. and also many considerations about  bitcoin currently against a government policy.
member
Activity: 294
Merit: 10
November 20, 2017, 09:54:25 PM
This is possible but takes more years to happen. As of today the banks and governments cannot immediately change the currency into digital because not everyone that living in the country can handle this kind of changes.
full member
Activity: 161
Merit: 100
November 20, 2017, 09:50:47 PM
Maybe not at this moment.There are some factors that need to be considered before making it a national currency.Some countries have bitcoins but not widely used.
You can expect anything to happen in the coming days. There is nothing in this world which is impossible. I think of bitcoin as national currency to be a very good idea. The only thing which matters the most is the role of government in this aspect.

If the government is willing to take positive steps in this regard, then there are likely chances of this thing to happen. This will bring positive impact on society.
Really? I think we have more trouble about society than positive impact on society.
All transactions will create through Bitcoin and no one can knows the source and the person sended or received that amount.
This is really the good thing for anyone wants to use currency for crime.

BTC as a national currency would be smart for any nation to do. I wonder if other nations would make the same choice. I do not see this happening, any time soon that is, because the baby boomer generation still holds a lot of the power that currently, and temporarily, exists today, so once they start to fall off then the current generations can start to use it as sound money which is great for any economy.
jr. member
Activity: 132
Merit: 2
MR06Q8ZM3194
November 20, 2017, 08:29:32 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.
its everyone currency in terms of using online, but as exchanging in fiat it will be impossible.
member
Activity: 280
Merit: 10
November 20, 2017, 08:14:38 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.
member
Activity: 112
Merit: 100
November 20, 2017, 06:05:03 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.
one day fees will go low (as the price)
transaction rate will be higher after some upgrades of the protocol
so, in a future Bitcoin have a chance to be usable as national currency, but not today.
sr. member
Activity: 686
Merit: 253
November 20, 2017, 05:05:15 PM
nah man, I don't think so. Not all people know bitcoin, interested in bitcoin. Also many countries ban bitcoin, and fyi many countries already planned to make their own national crypto currency. they do adapt the system but not the bitcoin itself as their national currency.CMIIW Smiley

Well but it will take some time  for it to be used by everyone in every place but the fact that it can be used now in every place there is internet goes to suggest that it is indeed an international currency that's  almost present in every economy around the world.
full member
Activity: 316
Merit: 101
The Winner Stands Alone
November 20, 2017, 05:01:07 PM
nah man, I don't think so. Not all people know bitcoin, interested in bitcoin. Also many countries ban bitcoin, and fyi many countries already planned to make their own national crypto currency. they do adapt the system but not the bitcoin itself as their national currency.CMIIW Smiley
full member
Activity: 210
Merit: 100
November 20, 2017, 03:04:23 PM
it could be interesting
where could this be possible?
Pages:
Jump to: