Topic: Can btc be use to purchase crude oil (Read 383 times)
It is possible that bitcoin can be used to buy crude oil if ever the seller also accept bitcoin as one of the payment then of course it will be possible even today. Take casino as an example, at first that casino is only accepting fiat money at first and later on they also add bitcoin as one of the payment then many people can gamble using bitcoin to pay.
From my perspective it's obvious that in next ten (10) years bitcoin will be centralised and it can be use for exchange of product's in all ramifications and it will dominate any other currencies across the world.
Here comes the list of things bitcoin can purchase in next ten years without physical cash and it's called bitcoin vision 2030.
* Housing estate's
*companies
*car industry and private use
*importation of goods and service from different countries
* payment of worker's with bitcoin
* And also use for payment of shopping.
I believed strongly that this vision bitcoin 2030 shall come in reality.
What is your suggestion.
We can now buy crude in the market using bitcoin. We can buy it on PrimeXBT. That is one exchange that I know where we can buy crude oils. Here comes the list of things bitcoin can purchase in next ten years without physical cash and it's called bitcoin vision 2030.
* Housing estate's
*companies
*car industry and private use
*importation of goods and service from different countries
* payment of worker's with bitcoin
* And also use for payment of shopping.
I believed strongly that this vision bitcoin 2030 shall come in reality.
What is your suggestion.
Actually your visions for bitcoin for the next 10 years are already here on these days. We can shop online, through bitcoin, we can use bitcoin as payment. There are companies that pays bitcoin on their employees, but there are just few for now. It is a very good sign for bitcoin. I guess it is safe to say that bitcoin will be largely used for lots of different transactions in the very near future.
I am sure, that there is some coin which is correlating with the price of oil. Mostly with Synthetix ERC-20 tokens. They are backed up by SNX tokens so you are extremely safe and if the price of SNX tokens will lose, you still don't have to worry - they have correlation rate 800% so there is minimal chance to lose it.
How is SNX token safe ? No Erc token is safe at the moment not even the USDT (Tether).
To me I don't think that bitcoin will be used to purchase crude oil for now but I think it be possible in time to come because the way bitcoin is going at the moment in the next five years to come or more I think you can purchase crude oil with bitcoin.
Since that happens on the government level, bitcoin needs to be legally accepted for that to happen.
Bitcoin is decentralized and it will always be, the decentralization is what makes bitcoin to be what it is today, if it eventually becomes centralized which I believe it cannot be, lots of people will definitely loose interest in it. It can be used as a means of payment for crude oil if the both parties that are involved in the deal comes to agreement about using bitcoin, but I don't think that it's widely accepted for purchase of crude oil yet due to the volatility
People come to Bitcoin and the cryptocurrency market because it's decentralized and anonymous. If one day, Bitcoin will concentrate, then I will leave bitcoin and move to another currency.
At the moment, BTC can be used to buy a lot of things, even people have considered it as a tool to transfer money between countries.
At the moment, BTC can be used to buy a lot of things, even people have considered it as a tool to transfer money between countries.
To me I don't think that bitcoin will be used to purchase crude oil for now but I think it be possible in time to come because the way bitcoin is going at the moment in the next five years to come or more I think you can purchase crude oil with bitcoin.
I am sure, that there is some coin which is correlating with the price of oil. Mostly with Synthetix ERC-20 tokens. They are backed up by SNX tokens so you are extremely safe and if the price of SNX tokens will lose, you still don't have to worry - they have correlation rate 800% so there is minimal chance to lose it.
Yes, two things are completely different there's a difference between buying BTC petroleum and what's getting to happen at BTC within the last 10 years However it'll take an extended time for Bitcoin to become centralized. nobody will support it If centralized then the advantages that we get in exchange are never possible then the demand for bitcoin-like Fiat currency will come down tons Maybe in 10 years Bitcoin will improve tons but it'll not be effective in using industrial products with Bitcoin.
Kinda weird to see the title and the content of the discussion somewhat being a mismatch. Anyway, I think it's enough to discuss the 'centralized' part of the OP, at least until OP shows up again and rebut every argument mentioned above. At this point, it's like kicking a dead body.
From my perspective it's obvious that in next ten (10) years bitcoin will be centralised and it can be use for exchange of product's in all ramifications and it will dominate any other currencies across the world.
Here comes the list of things bitcoin can purchase in next ten years without physical cash and it's called bitcoin vision 2030.
I think what you were trying to say is that in the next ten years, there will be mass adoption of bitcoin. Centralization is something completely different and bitcoin will never be Centralized so long as we have different miners, mining pools and nodes that run the network all over the world. Here comes the list of things bitcoin can purchase in next ten years without physical cash and it's called bitcoin vision 2030.
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I don't think it so, because there are many people who even know nothing about Bitcoin. This is not the big issue, the big issue is many countries wants to ban Bitcoin, cause it is decentralized, Govt. are unable to regulate its price. If the government ban Bitcoin then how will the people use it? so I think until the government understands the benefits of BTC. it will not be possible to make full use of BTC in our daily work.
Since Bitcoin is not centralized that's make it's impossible to be use to purchase large bulk of crude oil by government but individual can use it as a purchasing power to purchase goods and services including crude oil for self use. If the necessary law or statutory are being put in place and countries start abiding to the regulation, in near future Bitcoin can be use.
Decentralization of Bitcoin has made it impossible for government to regulate or control Bitcoin.
In general Bitcoin is being accepted as a means of exchange by certain individual, corporate body e.t.c.
Decentralization of Bitcoin has made it impossible for government to regulate or control Bitcoin.
In general Bitcoin is being accepted as a means of exchange by certain individual, corporate body e.t.c.
I really don't think that Bitcoin will be centralized, Bitcoin will be always decentralized, as what it's initial characteristic and also aim.
f the BTC will be used as a payment method to buy many more services and products around the world, it doesn't mean that BTC should be centralized. It will be still decentralized and it is available to be used for payment method, as what it can do right now. The difference is probably in the next 10 years later, the use of BTC for payment in the world will be spreading, many more merchants or services will accept it, many more countries will legalize the BTC for not only a digital asset but also for payment method.
So, it doesn't need to be centralized.
f the BTC will be used as a payment method to buy many more services and products around the world, it doesn't mean that BTC should be centralized. It will be still decentralized and it is available to be used for payment method, as what it can do right now. The difference is probably in the next 10 years later, the use of BTC for payment in the world will be spreading, many more merchants or services will accept it, many more countries will legalize the BTC for not only a digital asset but also for payment method.
So, it doesn't need to be centralized.
Authorities are forcing it to be centralized. KYCs, tax reporting, it's getting easier to be tracked as more exchanges and services embrace them in order to stay in business.
From my perspective, it's obvious that in next ten (10) years bitcoin will be centralised and it can be use for exchange of product's in all ramifications and it will dominate any other currencies across the world.
I really don't think that Bitcoin will be centralized, Bitcoin will be always decentralized, as what it's initial characteristic and also aim. f the BTC will be used as a payment method to buy many more services and products around the world, it doesn't mean that BTC should be centralized. It will be still decentralized and it is available to be used for payment method, as what it can do right now. The difference is probably in the next 10 years later, the use of BTC for payment in the world will be spreading, many more merchants or services will accept it, many more countries will legalize the BTC for not only a digital asset but also for payment method.
So, it doesn't need to be centralized.
bitcoin will be centralised and it can be use for exchange of product's in all ramifications and it will dominate any other currencies across the world.
Bitcoin is a decentralized asset meaning it's not controlled by government and other organizations, the only centralised ones are the fiat currency in your country, take note. So bitcoin is already a decentralized currency that's why the slogan "be your own bank" is popularly used in the cryptosphere.Here comes the list of things bitcoin can purchase in next ten years without physical cash and it's called bitcoin vision 2030.
* Housing estate's
*companies
*car industry and private use
*importation of goods and service from different countries
* payment of worker's with bitcoin
* And also use for payment of shopping.
Application of cryptocurrency especially bitcoin had been adopted in some countries across the world. Altcoin is mainly used in shopping mall, such project is Alibabacoin, using bitcoin and other coins is usable for transaction in the above mentioned instances but for the case of buying of industries, I haven't come across such news maybe in the future time as her adoption increases gradually. * Housing estate's
*companies
*car industry and private use
*importation of goods and service from different countries
* payment of worker's with bitcoin
* And also use for payment of shopping.
From my perspective it's obvious that in next ten (10) years bitcoin will be centralised and it can be use for exchange of product's in all ramifications and it will dominate any other currencies across the world.
I don't see any correlation between bitcoin centralization and whether bitcoin can be used to buy various goods (that we can't purchase with Bitcoin today).
From my perspective, if Bitcoin is centralized, that means whoever control Bitcoin will limit how Bitcoin could be used and thus won't be able to dominate other currency.
Bitcoin can never be centralized and hence it will never become a major currency. We may have a digital currency which will be used in future but that will be centralized one. Just like China developed its own first digital currency and many other countries will follow the same.
Doing centralized bitcoin implementation will not be that easy and will not be fully applicable to the lists you have mentioned.
I believe that bitcoin is now a very valuable digital currency with very high price voting. but there will be regulations that apply to every country that wants to adopt bitcoin.
Buying crude oil using bitcoin might be realized, but not in the near future. FIAT is still the main currency above bitcoin and still cannot be replaced. FIAT is now also available in the form of a more efficient digital currency.
I believe that bitcoin is now a very valuable digital currency with very high price voting. but there will be regulations that apply to every country that wants to adopt bitcoin.
Buying crude oil using bitcoin might be realized, but not in the near future. FIAT is still the main currency above bitcoin and still cannot be replaced. FIAT is now also available in the form of a more efficient digital currency.
How do you think BTC will be centralized? Can you share soke example; I don't think you have. Either way, if BTC gets centralized, it won't valuable anymore.
Here's your question answer, here's the tokenized crude oil in currency.com- https://currency.com/tokenized-us-crude-oil-price
Here's your question answer, here's the tokenized crude oil in currency.com- https://currency.com/tokenized-us-crude-oil-price
From my perspective it's obvious that in next ten (10) years bitcoin will be centralised and it can be use for exchange of product's in all ramifications and it will dominate any other currencies across the world.
Here comes the list of things bitcoin can purchase in next ten years without physical cash and it's called bitcoin vision 2030.
* Housing estate's
*companies
*car industry and private use
*importation of goods and service from different countries
* payment of worker's with bitcoin
* And also use for payment of shopping.
I believed strongly that this vision bitcoin 2030 shall come in reality.
What is your suggestion.
Here comes the list of things bitcoin can purchase in next ten years without physical cash and it's called bitcoin vision 2030.
* Housing estate's
*companies
*car industry and private use
*importation of goods and service from different countries
* payment of worker's with bitcoin
* And also use for payment of shopping.
I believed strongly that this vision bitcoin 2030 shall come in reality.
What is your suggestion.
Why and How will Bitcoin centralize? cause if it becomes centralized then there will be no difference between Fiat currency and Bitcoin. I do not agree with you on this part.
Indeed many vendors and retail companies are now accepting Bitcoin and other major cryptocurrencies. I am sure within few years you will be purchase almost all products using Bitcoin.
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Substitute "centralised" for "generalized" in the OP, and I figure we’ll get the OPs intent, without the current misleading choice of words. Being that the context, the listed purchasable items could well be a possibility, just as they currently are on a small scale today. Nevertheless, those options nowadays, even if feasible in some cases, are subject to regulation restrictions (different in extent per country) and the will to go forth (most people probably prefer to speculate with Bitcoin than use it from an operational point of view). Ten years down the road, in a hypothetical scenario of generalized tenancy, we’d still need to see how regulation and will to use have evolved, and those are big questions now to project a decade from now.
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