Topic: if bitcoin becomes the country's currency - page 10. (Read 1214 times)
Bitcoin becoming the country's currency is possible when it gets the legal acceptance from the governing body of the respective country. Already there are lot of expertise predictions stating that the country which adopts bitcoin legally will grow high in its economy. Hope the change gets ignited at the shortest with more countries showing interest to accept bitcoin legally.
It is also acceptable if a country that allows them to access barcodes online is very convenient and there will be more bitcoin transponders coming up for that purpose.
At the moment, developing countries use bitcoin to trade in services, so bitcoin easily becomes the currency of the country in the future. In fact, underdeveloped countries do not use bitcoin completely, so calling bitcoin a national currency is not necessarily. In the future, I think bitcoin will be used most of the countries around the world and the possibility of bitcoin will become the country's currency.
I do not give too much chance. If any crypto money is common currency of an country, the value is fixed. The value does not rise too much.
It will be very dangerous if it is attacked by other crypto currencies. No country will take this risk.
I think that crypto money will continue to be traded in the stock market.
It will be very dangerous if it is attacked by other crypto currencies. No country will take this risk.
I think that crypto money will continue to be traded in the stock market.
Technically, it is possible but it will be really difficult. We have had debit and credit cards for a long time and still there are many places where you can't pay with them. We would have to spend lots of money on educating people how to use Bitcoin. Also, Bitcoin is still not capable of handling that many transaction per second. If even a small country decided to make Bitcoin their official currency then it would be a disaster. Lightning Network is still not ready and not as easy to use as on-chain transactions. We still need some time.
i don't think that bitcoin can became a country's national currency as if it happens then the government wont be able get taxes and run the country , the government wont be able to trace any transactions , the country could became a shadow trade zone where anyone can buy anything , the anonymous nature of bitcoin could be misused and the country would eventually fall down .
to make BTC a national currency the government should get at-least the power to trace transactions .
to make BTC a national currency the government should get at-least the power to trace transactions .
Neither bitcoin, nor other cryptocurrencies in the near future will be able to become national currencies for 3 main reasons:
1. The government (central bank) will not be able to fully control this currency
2. Cryptocurrency transactions are much slower than transactions in monetary bank transfers
3. The process of transition from one currency to another is very long and difficult at the legislative level
1. The government (central bank) will not be able to fully control this currency
2. Cryptocurrency transactions are much slower than transactions in monetary bank transfers
3. The process of transition from one currency to another is very long and difficult at the legislative level
could bitcoin be the currency of a country but would "Satoshi Nakamoto" as the creator of bitcoin would agree with that? then which country would make bitcoin the country's currency first?
The popularity of bitcoin has now grown so rapidly that almost everyone in different countries recognizes and utilizes bitcoin either as a business asset or as a means of payment transactions.
And as we know so far the bitcoin legality is still a consideration for governments in various countries.
Looking at that fact is it possible bitcoin will be the currency of a country?
And can bitcoin change the country's economy for the better?
And as we know so far the bitcoin legality is still a consideration for governments in various countries.
Looking at that fact is it possible bitcoin will be the currency of a country?
And can bitcoin change the country's economy for the better?
This depends on what country you are residing. If you're country has fuly embraced and accpted the idea of bitcoin, then, it has a possibility that it can be the next virtual currency. Bitcoin has a full potential to make one's financial grow since it has a very high value and a demand in the market. If people in one country will invest in it, it would contribute to the economic growth of one country.
Bitcoin is hard to use as a currency used by a country
. Not all countries accept bitcoin and bitcoin has been banned in many countries.
a country prefers the country's native currency because it is made in the original country itself and has become public trust in the payment. if the bitcoin is in control of it and can not be used in the exact crime bitcoin will be used by the state of the country in this world. . Not all countries accept bitcoin and bitcoin has been banned in many countries.
Bitcoin is hard to use as a currency used by a country
. Not all countries accept bitcoin and bitcoin has been banned in many countries.
. Not all countries accept bitcoin and bitcoin has been banned in many countries.
In order that bitcoin could become the main currency for it, like any other technology, it is necessary to overcome the stage of development, on which the problems of scalability, flexibility and anonymity will be solved. As mentioned above, the complexity of the Bitcoin network obliges its developers to create a thoughtful solution for scaling the network, since an insufficiently competent approach can either lead to the separation of the Bitcoin network or provoke serious security problems that will disappear in the future.
The popularity of bitcoin has now grown so rapidly that almost everyone in different countries recognizes and utilizes bitcoin either as a business asset or as a means of payment transactions.
And as we know so far the bitcoin legality is still a consideration for governments in various countries.
Looking at that fact is it possible bitcoin will be the currency of a country?
And can bitcoin change the country's economy for the better?
And as we know so far the bitcoin legality is still a consideration for governments in various countries.
Looking at that fact is it possible bitcoin will be the currency of a country?
And can bitcoin change the country's economy for the better?
Theres is a big chances that bitcoin become a currency of the country soon,but for as now there will be a big question about the legality of bitcoin,in every country and if example its, these would be happen there is a chances that all banks would be dimished and all transaction will goes to blockchain market,while in other hand if bitcoin will take over all of this theres a possibility that economy in the country will become better and we go towards an industrilize capitalize country globally.
To realize the idea of the world currency, which should become a means of payment, it is necessary to motivate people to start using bitcoin and other crypto-currencies in order to practice all the mechanisms of this technology in practice. It is very difficult to do this when there is high volatility, and the rate is constantly growing. Therefore, the next stage in the development of the entire project will be the stabilization of the course. There are still reasons to believe that the rate will increase
If bitcoin becomes the world reserve currency, then on its basis central banks will be able to issue their fiat (not having their own value) money. Thus, the gold standard, which existed in the world financial system until the early 1970s, will return in essence. The issue of fiat money will be one of the last possibilities of central banks to influence monetary policy...
if bitcoin becomes the country's currency, then it is good for us all as it means we can now freely trade with it making our transactions more secure and faster
Bitcoin that is not affiliated with a country in my opinion is very likely to be used as world currency for trading. Without any affiliation the influence of a country's circumstances to the value of Bitcoin would be minimal, so Bitcoin would be more stable in its exchange rate.
The government of each country will not accept bitcoin become currency. Because we have different currency and every country has taxes by using own currency. What the bitcoin can get taxes if our use it. So I think it's not reaility to happen or impossible to happen. Because also we hve big effect on the globalization because some people are investing in other currency and sell it if price increase.
Yes, its hard to attain because each country's has its own currency that have been protected and if that will happen then all establishment in a country from the highest down to the smallest level should have the system to accept bitcoin transaction and it should be granted that internet was fully harness into the different corner. The popularity of bitcoin has now grown so rapidly that almost everyone in different countries recognizes and utilizes bitcoin either as a business asset or as a means of payment transactions.
And as we know so far the bitcoin legality is still a consideration for governments in various countries.
Looking at that fact is it possible bitcoin will be the currency of a country?
And can bitcoin change the country's economy for the better?
It think it is possible if government of the country will accept bitcoin. As I observed a lot of country are using bitcoin and we can say that it bitcoin could really become the countries currency. And as we know so far the bitcoin legality is still a consideration for governments in various countries.
Looking at that fact is it possible bitcoin will be the currency of a country?
And can bitcoin change the country's economy for the better?
The popularity of bitcoin has now grown so rapidly that almost everyone in different countries recognizes and utilizes bitcoin either as a business asset or as a means of payment transactions.
And as we know so far the bitcoin legality is still a consideration for governments in various countries.
Looking at that fact is it possible bitcoin will be the currency of a country?
And can bitcoin change the country's economy for the better?
And as we know so far the bitcoin legality is still a consideration for governments in various countries.
Looking at that fact is it possible bitcoin will be the currency of a country?
And can bitcoin change the country's economy for the better?
It is impossible, I think is very difficult for bitcoin to be used as a currency used by a country, because every country has own currency. Bitcoin is the higjh volatility, it is difficult be comes the country's currency. Maybe In the future it will happen. If the bitcoin is more stable.
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