Topic: Do you support the Use of Bitcoin as a National Currency? - page 3. (Read 900 times)
It would be too risky for governments to put a foreign form of payment as their national currency. They need something that they can control, even if it means creating their own version of bitcoin. However accepting it as legal tender would be great to supplement the economy and maintain growth.
I think that will depends of which country you are talking about, Bitcoin is growing and has a lot of future potential.
I am into bitcoin and i really loved using bitcoin and owning some of it but i don't think that it will support or be in favor in bitcoin to be a national currency because it will just bring chaotic scenarios because the people cannot have a fixed price of the items or goods that they will try to buy so i really believed that it is better to leave being national currency to the fiats.
of course I support this bitcoin and my parents are also supportive here and we are here in our country to support bitcoin and because this will better show its class as a virtual currency.
countries wont use bitcoin as their national currency.
what is more likely to happen over the next decade is that instead of using banks standard database models. governments/banks will create their own fiat 2.0 based on blockchain ledgers. and those ledgers will intercommunicate with each other where by something like hyperledger becomes the IMF auditor/controller of each inter-dependant fiat 2.0 blockchain ledger
what is more likely to happen over the next decade is that instead of using banks standard database models. governments/banks will create their own fiat 2.0 based on blockchain ledgers. and those ledgers will intercommunicate with each other where by something like hyperledger becomes the IMF auditor/controller of each inter-dependant fiat 2.0 blockchain ledger
I think it is very difficult for a country to decide Bitcoin as their national currency. If it is only as one of the currency for transaction or payment, it is possible. But, if my country decides that, they must have considered the positive and negative truth of the impacts and effects. Now, I'm not sure that it will be successful when applying for the national currency. Many people still don't know and even use Bitcoin. Many still focus on their cash or fiat with the standard bank. The price is also not stable, it will give high influence on the future of currency in the country.
It will definitely be a welcome development for bitcoin to be used as national currency but it is also a very difficult situation since every government of a nation want be relevant in everything that concerning their country.
While it is good news for Bitcoin users/hodlers that countries allow the use of Bitcoin as a means of transactions within their border, what will be your position if a country decides to take a step further by using Bitcoin as its national currency?
I doubt this will happen in the nearest future, govs and banks are generally against cryptos, because when all people will realize how much they can benefit from using them, no one will need banks anymore, only if they accept cryptos, but they won't, because that wouldn't be profitable, they wouldn't be able to regulate money flow, as they used to.
While I support this use the fact is when I have gone into different PC parts store as part of my IT job and when I talked about them about the possibility of them accepting bitcoin as a payment they all replied the same. It has major volatilities is the major problem they told me about. I think this will be reason for some time being that bitcoin will not be implemented as national currency.
You are very correct.Volatility issue is a major concern.Bitcoin can gain or loose 20 per cent of its value in just 24 hours.With such volatility may be difficult to make plans or budgets without much tensionsYeap. Therefore when its time to decide when to invest, it will be much crucial if you think about its volatility, while some people tend to buy and just hoping someday they will gain, we could also read through their minds that they are a long term holders and just want some kind of long term investment, which is more stress free compared to day traders which has lot of things to think before buying. If we talk about implementation of bitcoin as a national currency, most of us around here would vote yes because it has good purpose to begin with, just setting aside those risks, besides the blockchain system has a lot of room to improve.
It will be convenient if Bitcoin can work as a national currency of every country or major countries that support bitcoin.
Transactions will be very easy without taking the currency of that country. Globally every country will be connected to each other. Volatility may be the issue for this as bitcoin price changes frequently and plus minus 20% is possible within 24 hours. So this may the problem for the countries to make budget as per bitcoin price. But for young generation it will be a boon for all of us.
Transactions will be very easy without taking the currency of that country. Globally every country will be connected to each other. Volatility may be the issue for this as bitcoin price changes frequently and plus minus 20% is possible within 24 hours. So this may the problem for the countries to make budget as per bitcoin price. But for young generation it will be a boon for all of us.
of course I would be happy if bitcoin becomes a legitimate currency but needs many changes to make it happen because of course it takes the internet to be able to use it and the government should improve all the facilities available and it will take a long time so bitcoin can be reached by all the community
While I support this use the fact is when I have gone into different PC parts store as part of my IT job and when I talked about them about the possibility of them accepting bitcoin as a payment they all replied the same. It has major volatilities is the major problem they told me about. I think this will be reason for some time being that bitcoin will not be implemented as national currency.
You are very correct.Volatility issue is a major concern.Bitcoin can gain or loose 20 per cent of its value in just 24 hours.With such volatility may be difficult to make plans or budgets without much tensions 
In my opinion. I agree if bitcoin as an alternative currency in a country. without having to eliminate the country's original currency. because the conventional currency is a fundamental symbol of the economy in the country. so bitcoin is more appropriate to be an alternative digital currency that can support the economy in the country.
While it is good news for Bitcoin users/hodlers that countries allow the use of Bitcoin as a means of transactions within their border, what will be your position if a country decides to take a step further by using Bitcoin as its national currency?
I personally do not, because the value is so volatile, and this will result in huge losses if something happens like this end.
I would rather agree bitcoin as an asset in investment. yes, because this will better show its class as a virtual currency.
bitcoin is amazing and certainly has a lot of advantages over fiat as a means of payment.It should be allowed as a valid means of payment in all countries of the world-same way the USD is used in all international transactions.I am however not sure if it is a good idea for a country to abandon its Fiat currencies and use bitcoin instead.I dont think it is the best approach.There are merits and demerits in all systems.I am a bitcoin die-hard fan by the way.
The government does not use bitcoin as the main transaction tool in the country. In this case, the government needs a stable currency like the dollar. Because bitcoin volatility is so high that it is a bit difficult to make the national currency.
I would prefer for governments to stay away from bitcoin. I think this is one of the things that brought satoshi to make bitcoin.
While I support this use the fact is when I have gone into different PC parts store as part of my IT job and when I talked about them about the possibility of them accepting bitcoin as a payment they all replied the same. It has major volatilities is the major problem they told me about. I think this will be reason for some time being that bitcoin will not be implemented as national currency.
I am against the concept of Bitcoin on being a national currency. I think that if that occurs, it will cause a bad effect to a country's economy due to the Bitcoin's volatility. Also, there are still a lot of establishments and businesses that do not allow transactions relating to Bitcoin or any other cryptocurrency. In general, this is just bad for a country's economy.
I don't think the country will use bitcoin as a national currency, because bitcoin is decentralized and not controlled by the state.
I think future countries will issue their own password tokens because they can control them.
Bitcoin will never be the world's legal tender.
I think future countries will issue their own password tokens because they can control them.
Bitcoin will never be the world's legal tender.
Yes I am one of those who support the use of bitcoin as a national currency. Since many are engaged in bitcoin it will be easier to transact if it will be the national currency.
While it is good news for Bitcoin users/hodlers that countries allow the use of Bitcoin as a means of transactions within their border, what will be your position if a country decides to take a step further by using Bitcoin as its national currency?
I 100% support for Bitcoin as a national currency because we are now in a new technology its time to go with the flow of new technology we all know that this kind of transaction is much better than before. CONVENIENT no HASSLE and Faster than the current uses of our currency. that's reality.
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