Banks can only accepts bitcoin if they found it legalized and this should be somethings i think central bank has to authorized rather a commercial bank go into this law this same thing applicable with my country, bank don't accept bitcoin as a means of payment and as a matter of facts when doing transactions we don't mentioned anything crypto related otherwise these accounts would be frozen, we can talk of privates company or individuals like me and you can start doing that secretly without any authorizations from our countries.
Lastly have you took your time to go through the whitepaper of bitcoin? meaning its becoming a dream comes true if not for government not legalizing it in the whole world.
Topic: Impact of Bitcoin - page 2. (Read 379 times)
The irony is that, bitcoin could actually solve various issues from traditional banking system yet they fear the acceptance of same. Now the fear is because of uncontrolled authority over the use of bitcoin which could put down various government operations. Such as how they will get the taxation and how they will run the nation (if they really do!).
I don’t think there is anything else that’s interfering with their decisions of accepting it. The fear of loosing tax monetary system is alone biggest barrier for them.
However, DUBAI managed to survive with less or zero tax but again that’s rich country with kings who understand humanity. Rest of the world may not be able to follow the path.
I don’t think there is anything else that’s interfering with their decisions of accepting it. The fear of loosing tax monetary system is alone biggest barrier for them.
However, DUBAI managed to survive with less or zero tax but again that’s rich country with kings who understand humanity. Rest of the world may not be able to follow the path.
The invention of bitcoin has brought more people into the crypto sector, changing their daily lives. The use of virtual currencies thus offers a more secure way to transact with foreign entities or local merchants without having to worry about fraud or theft. This has offered consumers a new alternative to their usual way of making purchases, allowing them to have more control over their spending.
Future generations will definitely be smarter and will ask themselves, how is it possible to send money for free?
Yes, we are all heading into a new era in remittances. The financial crisis is more than just a global recession, it is a catalyst for change and we will all be better off for it.
Future generations will definitely be smarter and will ask themselves, how is it possible to send money for free?
Yes, we are all heading into a new era in remittances. The financial crisis is more than just a global recession, it is a catalyst for change and we will all be better off for it.
A shame that a person with the seniority on this forum that you have is talking about converting bitcoin to fiat to pay instead of paying directly with it.
It depends on the country you live in, if bitcoin in your country is illegal then using bitcoin will be caught and fined. In this case, there is nothing wrong if you convert bitcoins to fiat to use. When you buy a cup of coffee for only $0.50, you can't use bitcoin to pay, it takes quite a long time to confirm the transaction and I think the transaction fee will be higher than paying for the coffee. Bitcoin is not only a means of payment, it can be a currency, property, safe haven… depending on how each person uses it. We are bitcoin investors but don't always use it for payment, use it according to the circumstances. IMO.
Here are some impact that I observed, many governments restrict remittances made from other countries or vice versa making the charges too high, with the use of bitcoin and other crypto, it reduced remittances.
(.....)
They have their own reasons for it. The government is just being a government, they are doing what it can to protect its people. That's why there are a lot of people who are against them, especially on some of their decision, let's take for example some regulations about Bitcoin which are not really useful.(.....)
They hate decentralization because they can't control it.
It also affects in the country's economy when people use BTC instead of their local currency. The Crypto market is not incorporated into the currency exchange that they can see the growth for local currency demand. Coins sent by users going to Latin countries are not seen as remittances. It's usually just the USD upon exchange for a local currency. If they just keep BTC upon receiving it, it will just be a BTC transaction. No more no less.
I went to the mall a few days ago and was happy to see it shine bright in my sight with only one stall of phones there. It's because it has a logo of bitcoin and said "Bitcoin accepted here".
It's gradually seen with the impact it's making and we'll see more establishments and businesses adopt it.
Whether they are small or big, it doesn't matter. What we like there is that they're acknowledging the use of bitcoin as payment and adopting it as is.
It's gradually seen with the impact it's making and we'll see more establishments and businesses adopt it.
Whether they are small or big, it doesn't matter. What we like there is that they're acknowledging the use of bitcoin as payment and adopting it as is.
Today, bitcoin and other cryptocurrency can be converted into other forms of money and deposited into user's accounts in an instant. Most crypto can be transacted anonymously, generally safe to use and difficult for malicious hackers to break.
A shame that a person with the seniority on this forum that you have is talking about converting bitcoin to fiat to pay instead of paying directly with it. And then that in the second sentence you somehow identify bitcoin and cryptocurrencies when they are essentially different is already the last straw.
Bitcoin is having more and more impact on society, just like cryptocurrencies but the latter are just another part of the system while the former at least was devised as an alternative to it. Another thing is that in daily use many people acquire or transfer them through centralized entities.
Here are some impact that I observed, many governments restrict remittances made from other countries or vice versa making the charges too high, with the use of bitcoin and other crypto, it reduced remittances.
(.....)
They have their own reasons for it. The government is just being a government, they are doing what it can to protect its people. That's why there are a lot of people who are against them, especially on some of their decision, let's take for example some regulations about Bitcoin which are not really useful.(.....)
They hate decentralization because they can't control it.
When people starts realising the real purpose for which bitcoin and other cryptocurrencies were innovated, automatically more and more people will move towards it. Even now the un-banked sector around the world contributes a big number. Those people at some point turning towards cryptocurrency will be a big success.
Bitcoin having multiple usage is another key factor for which users can prefer it over other form of investment/traditional usage. It can be used as investment, currency, store of value, transaction medium. Above all, it doesn't require a series of procedure same as we do with banks.
Bitcoin having multiple usage is another key factor for which users can prefer it over other form of investment/traditional usage. It can be used as investment, currency, store of value, transaction medium. Above all, it doesn't require a series of procedure same as we do with banks.
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Bitcoin spending is seamless and secure. A bitcoin can be easily transferred between two individuals in an agreed transaction without revealing their identities or requiring the assistance of a third party, but gold transactions do not keep the seller and the buyer anonymous.
Bitcoin saves people the stress of carrying money around when they travel to a country where the use of Bitcoin is generally accepted (free and fair usage).
I just love Bitcoin because I can buy it in chunks if I can't afford 1.
Bitcoin saves people the stress of carrying money around when they travel to a country where the use of Bitcoin is generally accepted (free and fair usage).
I just love Bitcoin because I can buy it in chunks if I can't afford 1.
Because that's the goal of Bitcoin based on the Whitepaper written by satoshi. As an alternative payment system of fiat currency and now it has been widely adopted around the world but only in those selective countries because still there are few countries that restrict Bitcoin under their jurisdiction.
Most crypto can be transacted anonymously, generally safe to use and difficult for malicious hackers to break.
It's possible on a centralized exchange, isn't anonymously but it's pseudonymously. 
Apart from the transaction charges which bank and other payment system are charging their clients they are also slow in times of executing transactions.
But Bitcoin in an aspect of the payment system has made it possible for holders to make payments seamlessly without undergoing any form of government policy on transaction limits or restrictions to who one can send payments. Bitcoin has impacted in so many ways that make human life easier than I can even imagine.
But Bitcoin in an aspect of the payment system has made it possible for holders to make payments seamlessly without undergoing any form of government policy on transaction limits or restrictions to who one can send payments. Bitcoin has impacted in so many ways that make human life easier than I can even imagine.
Today, bitcoin and other cryptocurrency can be converted into other forms of money and deposited into user's accounts in an instant. Most crypto can be transacted anonymously, generally safe to use and difficult for malicious hackers to break.
Here are some impact that I observed, many governments restrict remittances made from other countries or vice versa making the charges too high, with the use of bitcoin and other crypto, it reduced remittances.
More consumers are using bitcoins. Some legitimate businesses and companies have started accepting crypto as a form of payment. Online shoppers, investors, even some banks are using bitcoin regularly.
Here are some impact that I observed, many governments restrict remittances made from other countries or vice versa making the charges too high, with the use of bitcoin and other crypto, it reduced remittances.
More consumers are using bitcoins. Some legitimate businesses and companies have started accepting crypto as a form of payment. Online shoppers, investors, even some banks are using bitcoin regularly.
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