if bitcoin becomes the country's currency - page 2.

abhi777

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Quote from: deklitt on March 02, 2018, 10:44:56 PM

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?

all may happen without we can know if all countries recognize bitcoin as a currency applicable to make the transaction process may be the currency of a country

Sihab76

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It would possible if governments should take a positive step and bank should behaviour friendly with cryptocurrencies. Always bank disappointed bitcoin as they consider bitcoin as their trading competitors.

bluemongrel

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I highly doubt that bitcoin will become any country's main currency. However I believe it can replace paypal and be used for international, or merely private, transactions.

rhenz01

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Quote from: Denifriska on May 31, 2018, 07:24:35 AM

If bitcoin becomes the currency of a country, the bitcoin price will continue to increase as well as the supply will be multiplied. Because surely many people will need and want to have bitcoin.

for me , i dont think if it will happened because its not advantageous for poor people because bitcoin is too expensive and the market value is always fluctuating.

Argoo

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Activity: 2352

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Quote from: deklitt on March 02, 2018, 10:44:56 PM

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?

I do not envy the state that will have the imprudence of recognizing bitcoin as the currency of its country, I mean that bitcoin will be used instead of its national paper money. The eco-tourism of such a country is quickly disregarded. It will be impossible either to plan the economy or monitor its implementation of the budget. This will interfere with its high volatility.
Bitcoin can only walk in the country along with the national money of this state. Therefore, do not even dream about anything else.

Denifriska

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If bitcoin becomes the currency of a country, the bitcoin price will continue to increase as well as the supply will be multiplied. Because surely many people will need and want to have bitcoin.

ninjaeth

newbie

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Bitcoin can change the economic situation of a country, but becoming a country's legal currency is a little difficult because of its characteristics, it is difficult to receive control, and the country will not allow an uncontrolled currency to become a legal currency.

Moblie_Legend

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Activity: 420

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Quote from: deklitt on March 02, 2018, 10:44:56 PM

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?

maybe it can happen bitcoin using technological progress and development of course if all countries have been able to accept bitcoin as official currency that can be used as a means of buying and selling transactions and will certainly be the currency of the country, and of course be better and more practical in the form transaction

nano77

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I think it takes a long time to make bitcoin as the country's currency because every country already has a strong currency and gets support from the government, while bitcoin is still a digital currency that has been getting resistance from the government.

frits96

newbie

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It will be easy to use, but i dont think it will replace the main currency of the country and i dont like the idea of country's taking control over bitcoin. But at least it will become more populair then it already is.

ulakudrakova

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Activity: 336

Merit: 100

Quote from: deklitt on March 02, 2018, 10:44:56 PM

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?

I doubt that it will be the main currency of the country, but it can be on a par with the national currency. For example, like Euro and Swiss franc, or Euro and English pounds

KID_28

newbie

Activity: 70

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Money is money, the only difference is how people will accept it. As for the elderly who are used on using fiat they will be the ones that will be burdened on this changed. But technology wises and usefulness wise j think it would be for the better.

warning_btc

member

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Decentralized Digital Billboards

nothing is changed if it is not individual currency deveoloped by government.
all view everybodys transactions, this make live more fair, but i think its cant be ever

Stromspirit

newbie

Activity: 126

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only time can answer a country that makes it the currency, now there are still many people who do not know about bitcoin itself some people may already be comfortable with what he did. indeed most countries do not neglect the bitcoin of the country because the government is responsible for the financial flows in the country and bear the community if there is a big loss.

oskalisa

newbie

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This is possible, as well as the Euro, no one, and several Asian countries will unite, and will be right!!! Wink

dear53

jr. member

Activity: 322

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It is very good news for all bitcoin investor if its happen. Bitcoin is a trusted name but if any country take it for control it will be more trusted. Every investor want it. If bitcoin control by any country it will be accepted in every country. Many country banned bitcoin for this reason. So we all the members of bitcoin are waiting for it that bitcoin become a country's currency.

shesheboy

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Activity: 714

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Quote from: supergorg27 on May 31, 2018, 05:34:38 AM

No, I think it is impossible that bitcoin becomes the country's currency there are long ways to happen before it becomes reality because not everybody acknowledge bitcoin.

Lol are you joking right? how can you say that it is impossible for bitcoin to become a countrys currency where the reality is we are already using it as a currency on different parts of the country. It may not be represent as the countries official currency but still we are still be able to use it just like a regular currency.

Cryptos that represents a country is also possible but not specifically a primary coin like bitcoin or etherium rather in the form of ico coin or tokens . There are now many devs that creates their own coin with a name of their own country.

Dava.Dina

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Bitcoin has many advantages and for this reason it will definitely remain one of the most relevant currencies. One thing is for sure, prices will remain volatile in the future.

Bitcoin needs to filter itself to qualify as a currency and be accepted by the government.

If that's the case then Bitcoin will definitely benefit the government and will definitely make a country's economy better.

supergorg27

member

Activity: 238

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No, I think it is impossible that bitcoin becomes the country's currency there are long ways to happen before it becomes reality because not everybody acknowledge bitcoin.

strawberrypills

newbie

Activity: 164

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It's highly unlikely from where I come from (Philippines) since majority of the members of the government are old farts who don't even know how to use an android phone. Plus we're from a third world country deep in debt so I guess it'll take forever for Bitcoin to even go mainstream here.

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