Topic: Does Bitcoin affect world trade? - page 12. (Read 1137 times)
One day Bitcoin will be able to trade between all countries. At the moment that is not the best way to trade between countries because it is very volatile and lack of regulations.
In my opinion, I don't think that bitcoin can affect partly on the world trade since investors of stock market trading would probably prefer to choose stabe market condition while investing for crypto currency it is very volatile and unpredictable where it has a fast movement trends either up or down.
Now the influence of bitcoin in the world trade is insignificant due to the lack of regulation. Accordingly, those countries that introduce regulation faster than others will benefit from a competitive race.
Same goes for the trades between two countries. For such trades these countries usually choose a strong currency like USD or EUR for trade settlement. So as if now bitcoin doesn't have role in such international trades.
The problem with fiat currencies is that they depend too much on the situation of any given country, which makes me find gold a way better option if Bitcoin is left out. Gold is a pretty neutral currency that governments don't mind to deal with, and they can use it to hedge their own economy. Russia and China have been buying significant amounts of gold throughout the last years and I don't see it change any time soon. The US dollar is the main currency of the world, but there are so many variables that could work against it that gold is actually a great option. Gold will always hold value, which can't be said about fiat currencies....
Is there a role for Bitcoin in international trade? Have you heard of a trade between two countries?
And will it be in the future?
And will it be in the future?
International trade can't be dependent on a volatile currency like bitcoin. The sellers obviously need some currency whose value is backed by a central authority. Don't know about the future, but as of now, bitcoin doesn't qualify to be a currency for international trade.
Same goes for the trades between two countries. For such trades these countries usually choose a strong currency like USD or EUR for trade settlement. So as if now bitcoin doesn't have role in such international trades.
I doubt if bitcoin could be used for international trades. It is being banned in most countries currently and in such case, how then will it be used for such purpose. Unless it is internationally accepted and accredited for such purpose, But until such, lets not hope so at all.
In this physical world trade, for now, no. But now since it has been digital asset that can be transferred throughout the world that it made it an independent economy having its own world trade. The imports and exports of physical goods weren't being touched by any crypto yet as of now since it is primarily regulated by the government through import taxes.
Is there a role for Bitcoin in international trade? Have you heard of a trade between two countries?
And will it be in the future?
And will it be in the future?
Actually yes!
https://www.bloomberg.com/news/articles/2018-01-23/first-cryptocurrency-freight-deal-takes-russian-wheat-to-turkey
While more of an outlier, Bitcoin has been used to pay for 3,000 tonnes of wheat being shipped from Russia to Turkey earlier this year.
I think OP got the answer with a proof. Bitcoin already used as a trading currency between Russia and Turkey.
I am sure that other countries will follow this lead and use bitcoin as a trading currency in the future. Bitcoin could be the next international currency which will compete with USD and EUR.
Is there a role for Bitcoin in international trade? Have you heard of a trade between two countries?
And will it be in the future?
Not for now, before governments of the world begin to use bitcoin we need to start at the smallest level, the individual leve, and right now there are not many people using bitcoin for their everyday lives, most people use bitcoin as a store of value and that is why they hold and the rest use bitcoin as an speculative asset and not as a currency, so that will have to change before there is any chance bitcoin is used by governments. And will it be in the future?
Yes, though by a small fraction. Most of the world's trades are still done and completed in fiat. Given that there aren't that much merchants involved in the ecosystem, it'll be hard to keep tabs on the overall trades done with bitcoin unless it's high-valued and highly publicized. Bitcoin is supposed to be used as an efficient currency capable of being sent and received even across borders, so it will be safe to assume that trades from across countries are happening day-to-day, just not that noticeable compared to what fiat has been making for several decades.
Is there a role for Bitcoin in international trade? Have you heard of a trade between two countries?
And will it be in the future?
And will it be in the future?
If Bitcoin become legalized and available to all businesses and recognized of course by each country no reason why Bitcoin doesn't help the economy in every country through local trade and international trade.
There are already trading between 2 countries and between many countries but they use the instrument for payment is USD. I guess your question is use Bitcoin as instrument instead USD. I think it's so difficult and people need more time to develope Blockchain technology to apply it for payment. I also think that Bitcoin can't be used for payment but altcoins which base on Bitcoin Platform is possible although I very like Bitcoin. I think Bitcoin have some disadvantage that we can't to fix it. 
What do you mean trade by two countries?. Would you like to expand your question?
At present, BTC has a great influence on the global economic situation. At present, financial companies and banks of countries are worried about the growth of BTC. They are trying to compete but in my opinion banks will freeze for electronic money.
I think bitcoin (or its variant) that would have a very important role to play in international trade, once we are past this friend or foe phase with governments, financial institution and regulators that we are going through.When economists, bankers and the regulators can agree on the importance of a worldwide cryptocurrency like Bitcoin - trade will change.
Is there a role for Bitcoin in international trade? Have you heard of a trade between two countries?
And will it be in the future?
Lot of people from two different countries are using bitcoin for trading purpose but I don't think any governments officially used bitcoin for buying.But it may happen in future in between if the two countries made bitcoin legal in their countries. And will it be in the future?
Is there a role for Bitcoin in international trade? Have you heard of a trade between two countries?
And will it be in the future?
At the moment, no. In the future? Yes. I know this poser is more futuristic than realistic at the moment. It's a possibility that won't take longer than necessary to happen, especially seeing how the countries at the recent G20 meeting aligned. Soon there could be trades between countries paid in bitcoon. And will it be in the future?
The way I see it the internstional market does not affect the cryptocurrency industry as they have different factors that affect them. For example if the prices of gas goes down or up the prices of cryptocurrency is not affected unless it is related in the oil industry. Also the international market is centralized while the cryptocurrency is decentralized.
Of course.
Bitcoin is intended to be used worldwide, and it does not take into account borders. It would definitely save everyone time and money if BTC was used to settle trade balances, since bitcoin is a truly global currency. Of course, it does need two parties mutually agreeing to the terms of accepting bitcoin as a payment, and right now adoption rates are probably too low for this to happen on a consistent basis.
But definitely don't discount the idea of Bitcoin being used worldwide to settle trades in the future, after all, it's one of the things that BTC was built for in the beginning.
Bitcoin is becoming popular only because of the facilities that people are expecting from bitcoin, in fact in future people are suppose to be more busy and may be find it hard to visit market for buying, therefore i think that they will like to use crypto currency, through which will will be able to get anything on their door step in no time. To me i think that it may not effect the world trade too much. but will surely bring positive change. Bitcoin is intended to be used worldwide, and it does not take into account borders. It would definitely save everyone time and money if BTC was used to settle trade balances, since bitcoin is a truly global currency. Of course, it does need two parties mutually agreeing to the terms of accepting bitcoin as a payment, and right now adoption rates are probably too low for this to happen on a consistent basis.
But definitely don't discount the idea of Bitcoin being used worldwide to settle trades in the future, after all, it's one of the things that BTC was built for in the beginning.
Is there a role for Bitcoin in international trade? Have you heard of a trade between two countries?
And will it be in the future?
And will it be in the future?
Actually yes!
https://www.bloomberg.com/news/articles/2018-01-23/first-cryptocurrency-freight-deal-takes-russian-wheat-to-turkey
While more of an outlier, Bitcoin has been used to pay for 3,000 tonnes of wheat being shipped from Russia to Turkey earlier this year.
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