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Topic: BTC as a national currency? - page 31. (Read 12619 times)

sr. member
Activity: 612
Merit: 250
October 09, 2017, 12:49:18 PM
Bitcoin is difficult to consider because of a big coin but it can not be a national currency. Each country has its own currency system. This way, doing bitcoin  nationalization is not just easy, it can be rowdy.
It could be difficult for the people like us but not for everyone because it is being use in a lot of the countries as the national currency so it is not very difficult the importance of the bitcoin is known by a lot of the people now and they knows how profitable it is to invest in the bitcoin for the long time and it is the best thing to save for the long time.
hero member
Activity: 966
Merit: 500
October 09, 2017, 10:27:25 AM
I do not think that's possible. as we know that not everyone supports bitcoin and it also depends on the ability of its human resources, whether it is applicable or not.
sr. member
Activity: 435
Merit: 251
October 09, 2017, 10:23:06 AM
Bitcoin can not be national currency, because not all people use computer. I do not know any world country, where all people use computer. The second problem is that good & fast Internet coverage is not in 100% places, even in most developed countries. In Swiss or French Alps, for example, can be problems, especially in winter time. 
full member
Activity: 197
Merit: 100
October 09, 2017, 10:16:43 AM
BTC definely not.. it's "decentralized" and the government wouldn't have any control over it. We might witness a digital currency, but it will definitely be issued by the government itself. They need to have the ability to adjust the supply depending on how the economy is growing (increase/decrease in inflation, liquidity etc.)
jr. member
Activity: 50
Merit: 10
October 09, 2017, 08:39:20 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?

There's no chance btc can become a national currency. Why? It's because first of all, there are the banks who would protest and of course the government will definitely won't allow it. The threat of money laundering is always present with btc and that will always be the case that the govt will reason out. And besides they have no power over btc. They cannot control it and iy can also be used by politicians who don't wish to share their net worth most especially if they are involved in illegal transactions.
But there is any chance, example like after any kind of hardfork, it's become crypto currency that belong to some only in one nation. That could be happen any chance? And if it happen what things will happen besides?
full member
Activity: 490
Merit: 100
October 09, 2017, 08:25:00 AM
that's great if bitcoin can be national currency but in my country, the goverment not admitted bitcoin yet as a means of payment. so difficult for bitcoin can be national currency in my country. maybe if many countries accept bitcoin as a legal payment, bitcoin become legal in my country..
sr. member
Activity: 308
Merit: 250
October 09, 2017, 08:23:50 AM
Bitcoin can not be made in the national currency, because the government in my country is limited to monitor the development of bitcoin.
sr. member
Activity: 882
Merit: 251
October 09, 2017, 06:39:57 AM
Nowadays bitcoin have become popular nationwide but as national currency it is hard to implement. I agree with others that how about the poor they can cope up easily with the technology if bitcoin would be use as national currency. So, it is not easy that btc as a national currency because a lot of things to be consider.
sr. member
Activity: 364
Merit: 250
October 09, 2017, 06:06:18 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?

There's no chance btc can become a national currency. Why? It's because first of all, there are the banks who would protest and of course the government will definitely won't allow it. The threat of money laundering is always present with btc and that will always be the case that the govt will reason out. And besides they have no power over btc. They cannot control it and iy can also be used by politicians who don't wish to share their net worth most especially if they are involved in illegal transactions.
full member
Activity: 401
Merit: 100
October 09, 2017, 05:57:05 AM
For me, its a no. Many countries nowadays have common problems, the poor and homeless people in the streets. We can't make bitcoin as the national currency if there are a lot of people still don't have food to eat, no home to live in and no access to the internet. How can they get money. But for me maybe it is a good thing to make the bitcoin a currency, there will be no thief, no hostage taking and no robbery if bitcoin become currency.
sr. member
Activity: 1358
Merit: 259
PredX - AI-Powered Prediction Market
October 09, 2017, 05:38:48 AM
obviously not because the national currency is unlikely to be replaced. I think bitcoin will be a tool of exchange in every country if they work in another country and they want to exchange to their local money this will make it easy if to replace currency I think it is impossible.
full member
Activity: 406
Merit: 100
October 09, 2017, 03:10:06 AM
Bitcoin is difficult to consider because of a big coin but it can not be a national currency. Each country has its own currency system. This way, doing bitcoin  nationalization is not just easy, it can be rowdy.
sr. member
Activity: 1988
Merit: 254
PredX - AI-Powered Prediction Market
October 09, 2017, 02:56:36 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 it could become the currency of a country, perhaps it is Japanese. Just like the dollar, which is used all over the world, it belongs to the United States and you can not deny that it needs a strong economy to take control of it. Bitcoin, too, so that only really powerful countries can control and manage these currencies.
sr. member
Activity: 686
Merit: 250
October 09, 2017, 02:44:06 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?
The economies as we now it rely on several stuff, one of them being the cotrol of their monetary policy. Usually this is made made national central banks in most countries, federal banks as in the US and multinational central bank as in the EURO zone. For a counstry to adopt BTC we would have to see some major cange in our economic principals our a country having a currency so week that it would see some kind of advantage in BTC.
hero member
Activity: 1036
Merit: 500
October 09, 2017, 02:23:37 AM
National Currency is determined by the country and controlled and regulated by them and BTC can't act as a National currency because then the government will have no control over the money and the volatile nature of BTC can highly effect the economic conditions of the country. Also everyone in the state is not connected to internet and also all are not educated to do transactions with BTC so government will never accept BTC as a national currency.
Indeed! If we look at thinks with realistic approach, we will come to conclusion that bitcoins can never ever be the state currency of any country because of the main reasons you have mentioned. It is crystal clear that bitcoins are decentralized in nature and are not controlled by any state.
Even, no one can control it, not only the goverment and any force can not do that. Therefore, Bitcoin has a small ratio to be accept by the government, because you also know they not like accept a thing can not gives them any profits. Grin
Bitcoin is so effective that if a country will declare it as national currency then the economy of that county will be boosted in few days and it will be above many countries and still those countries are economically in well state who are using bitcoins in limited fields of business and from that one can easily predict the economy of that country whose currency will be bitcoin.
hero member
Activity: 924
Merit: 502
October 07, 2017, 09:10:47 AM
i think that's hard to consider because bitcoin is a big currency but it cant be the national currency because each and every country has their own
Well I respect your idea on this but as for my view, having such a big value in cryptocurrency,there is a higher chance that bitcoin will be a national currency. I strongly believe that if they allow this to happen, maybe many investors will help each other's country to develop establishments and of course the economy. It sounds valuable and amazing for everybody is using bitcoin for every purchases and the like.
newbie
Activity: 24
Merit: 0
October 07, 2017, 08:51:33 AM
Bitcoin as an official currency by any nation actually demonstrates that government’s adherence of fiduciary responsibility to its citizens. In doing so, a government handicaps itself in being able to run to the printing press and debase their currency all the while reducing citizen’s wealth through inflation. Instead, the government returns to what it should be doing, which is justify every item in a budget as well as balance it. This in itself will cause a government to become more transparent and reduce corruption greatly as well as strengthen democracy.
full member
Activity: 266
Merit: 100
Platform for Investing in Cryptocurrency and ICOs
October 07, 2017, 05:43:33 AM
i think that's hard to consider because bitcoin is a big currency but it cant be the national currency because each and every country has their own
full member
Activity: 172
Merit: 100
October 05, 2017, 02:06:32 PM
Every country will implent those laws and regulation in their country which will give a great profit to their country. So bitcoins will never be controlled by a person or a group of person or a country and its impossible in future also due to which a country will never accept as a national currency because it will not profitable to any country as their national currency.
hero member
Activity: 676
Merit: 500
October 04, 2017, 10:55:17 AM
National Currency is determined by the country and controlled and regulated by them and BTC can't act as a National currency because then the government will have no control over the money and the volatile nature of BTC can highly effect the economic conditions of the country. Also everyone in the state is not connected to internet and also all are not educated to do transactions with BTC so government will never accept BTC as a national currency.
Indeed! If we look at thinks with realistic approach, we will come to conclusion that bitcoins can never ever be the state currency of any country because of the main reasons you have mentioned. It is crystal clear that bitcoins are decentralized in nature and are not controlled by any state.
Even, no one can control it, not only the goverment and any force can not do that. Therefore, Bitcoin has a small ratio to be accept by the government, because you also know they not like accept a thing can not gives them any profits. Grin
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