if bitcoin becomes the country's currency - page 6.

fipper

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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?

it could happen because we all can not know for sure bitcoin can be a world currency but it takes time and a long process, because bitcoin uses technological advancements and times and one day will be accepted as official currency throughout the country

hibiscus

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Bitcoin is a new form of technology in this new era. Bitcoin has all the potentiality to become the country's currency, Bitcoin is a decentralized currency that is accepted by many countries all over the world and it is not linked to any countries government . The transactions are too cheap and easy to transfer and the price fluctuates often. Bitcoin is expected to be the largest currency for the year 2030. Bitcoin relies on the blockchain technology .

deppil

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Quote from: huntingbtc5 on May 19, 2018, 03:20:24 PM

Actually bitcoin has become kind of global currency. Within the community you can trade bitcoin from any part of the world but you can not do that with your national currency. So bitcoin do not need to be any country's rather it need to be legalize as international currency.

It is impossible for bitcoin to be used for the local currency of a legitimate country. we know that the bitcoin system is different from the system adopted by the government. so it's impossible for this idea to happen. yeah you're right bitcoin has something unique. you can make transactions anywhere with anyone in different countries in the world without having to doubt the difference in local currency. bitcoin can be global currency ?

johnwest

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The only way this may become a reality is when the country's government make a coin and tell people to use it everywhere. Otherwise governments wont allow decentralized currency to take over.

bmirror83

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I don't think that only with one country can survive with bitcoin in this open world economy. How they handle international transfer in payments? World needs to convert the monetary system fully to crypto currencies so that they can use without being at risk.

Roadarks02

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Quote from: galaxing on May 23, 2018, 01:24:54 AM

very unlikely, I think It is very difficult for bitcoin to be used as the currency used by a country.
As is known many countries forbid bitcoin because they are concerned with the circulation of bitcoin if used as a means of transaction.
But bitcoin is much better than the state money today because fiat loses its value day by day but bitcoin is getting more valuable day by day. and bitcoin will never die.

Maybe in this year or in the next years its impossible for bitcoin to become the countries currency for it is unstable and not all countries legalize the use of bitcoin. Also the government and banks would disagree in this idea of making bitcoin as the countries currency. But we never know in the near future bitcoin can be or will be our currency.

galaxing

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very unlikely, I think It is very difficult for bitcoin to be used as the currency used by a country.
As is known many countries forbid bitcoin because they are concerned with the circulation of bitcoin if used as a means of transaction.
But bitcoin is much better than the state money today because fiat loses its value day by day but bitcoin is getting more valuable day by day. and bitcoin will never die.

Dmitry.Vastov

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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?

If bitcoin will be legalise in any country then obviously it will make country, a heaven . Bitcoin introduction to any country can bring numerous advantages to country. Bitcoin has that potential that it can provide employment to millions of people and has enabled people to earn their livelihood, bitcoin has reduced poverty to very great extent and it can boost the development of country to very great extent and moreover it boost up the GDP of the country, so it’s like boon for any country.

Raidal

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Nothing is impossible in this world. Bitcoin can become the currency in a country but maybe for a valid and recognized digital currency position. I'm sure not to be the main currency. The country will maintain the original fiat currency of its country. In terms of economy, I believe using bitcoin then the state economy will be much better. Because bitcoin is a decentralized currency then the country's economy can be decentralized to become more widespread and evenly distributed.

krixi

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I think it's impossible, it's too hard to happen

huntingbtc5

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Actually bitcoin has become kind of global currency. Within the community you can trade bitcoin from any part of the world but you can not do that with your national currency. So bitcoin do not need to be any country's rather it need to be legalize as international currency.

Sumo

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Even if countries start to accept it, not everyone will do it. But in many advanced States, bitcoin is sure to be a great success, so I will wait for that.

Elerntta

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Even if bitcoin is accepted in most countries, it will be a very long and complex process. But I hope that when that happens.

twistedvape

newbie

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no, because in a country there is already a currency that many have its own history

kangbasir

member

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Unconscious awareness in some Governments in the World that Bitcoin is not threatening Because Bitcoin is not a currency specifically regulated in certain countries, it is unlikely that bitcoin becomes the country's currency.

libratiz

newbie

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Today bitcoin is shaking the world, almost every corner of the world is busy talking about the presence of bitcoin and rising investment prices.
To be a country's currency could happen, but that's quite complicated, since bitcoin is the digital currency, and not all of its people have a smartphone.
Bitcoin provides a lot of income through trading, bounty, and Air Droop. It can help the income of individuals in a country.

ExtraLovers

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With bitcoin it's possible. All depends on users.

Nyenyepogi

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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?

For sure the government will not allow this to happen because not all the people know the existence of bitcoin and the the government know that the bank will affected also so it wont be happen and I know the government know the system of bitcoin of having decentralize form so probably this is the another problem for them how can they put tax on it, if the system became centralize maybe the government make an action to make it happen.

Kelvinikke

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Bitcoin becoming a nation's currency is not likely to happen in any country because of the level of technology with which a person needs to trade with bitcoin. In as much as technology is advancing some countries especially those in Africa have limited resources when it comes to technology and its use. but i will say that it can rather me accepted as a mode of payment for people who understand it and want to use it just to avoid the involvement of central banks.

basyang

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Activity: 644

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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?

In my opinion about. Well honestly, Its too early to say that it will be the currency of a country because bitcoin is just getting started and as of now, its popularity gradually becoming acquainted and before it would be a currency in the country it will need to be stable in its price.

There will have a tons of studying before it will implemented and the goverment will consider all the possible outcome of it to the people especially to remote places that the internet signal is weak and poor people that can not afford to have an internet connection and a smart phone. There would many possible hard time for the bitcoin user before the government will recognize and legalize it.

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