Is bitcoin now the strongest currency in the world? - page 89.

BitFinnese

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Quote from: mizrak on June 07, 2017, 06:14:22 PM

Bitcoin is not a currency at all , because when you buy things or services people still use this bitcoins to exchange for a fiat money to sustain their life, that is a bitcoin is a digital payment system and digital asset but not a currency.
i think people still don`t understand the purpose of the bitcoin and it still not fulfilled yet.

Don't you know there are stores that accept bitcoin directly? You do not need to convert your Bitcoin to dollar or local currency in order to make a purchase? The Idea of Bitcoin not being currency had been refuted several times, and in fact Japan accept bitcoin as money. So what do you think about your statement? I do agree that bitcoin cannot buy us our basice needs because the world around us is not yet saturated so lots of people are ignorant about bitcoin but it does not remove the fact that Bitcoin is a currency and is acknowledge by some powerful country as money.

I believe that bitcoin is not the strongest currency. Being the most expensive does not necessary means the strongest.

hahay

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Quote from: melvster on March 22, 2013, 09:43:58 AM

After the events of last week.

I was making this suggestion to some folks yesterday, but they claimed that bitcoin is too small. Does it matter?

I admit that the bitcoin price in 2013 is very small and I'm not overly concerned about bitcoin prices at the time, but for now we can see if bitcoin prices continue to rise and continue to grow for the better and become an economic support for its users, I Sure bitcoin has now become the strongest currency in the world.

Weatherby

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Quote from: mizrak on June 07, 2017, 06:14:22 PM

Bitcoin is not a currency at all , because when you buy things or services people still use this bitcoins to exchange for a fiat money to sustain their life, that is a bitcoin is a digital payment system and digital asset but not a currency.
i think people still don`t understand the purpose of the bitcoin and it still not fulfilled yet.

Bitcoin is a currency and if not then what do you think it is,it is a multi dimensional asset,you could coin bitcoin as a digital currency,as a payment solution and a commodity,if people use it to convert it to fiat what is wrong in it,lets put it this way,hope you considers dollar as a currency ,if my country does not accept dollars as their local currency i have to convert that to my local currency to make purchases and that does not mean that dollar is not a currency. Tongue

Chin Cheng

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I am still not sure whether it is the strongest currency in the world but it is indeed the best technology in terms of how assets are to be managed and the amount of freedom one must have with his own money and for these primary things i give bitcoin the nod as the best solution to save our assets.

mizrak

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Bitcoin is not a currency at all , because when you buy things or services people still use this bitcoins to exchange for a fiat money to sustain their life, that is a bitcoin is a digital payment system and digital asset but not a currency.
i think people still don`t understand the purpose of the bitcoin and it still not fulfilled yet.

LuanX3

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Quote from: lady Royal on June 07, 2017, 05:53:47 PM

Bitcoin is not the strongest currency in the world and never will, I guess, but yes, you can say that Bitcoin is the strongest Crypto-currency and most valuable/demanded currency in the internet world.
Dollar is the strongest currency it is demanded in all over the world everyone is willing to accept it.

Somewhat true! I agree with the part that you said "Bitcoin is not the strongest currency in the world and never will." The reason is basically because it is cryptocurrency. What defines currency is that it is backed up by gold or a state/government. These factors are never present with bitcoins since they are decentralized.

lady Royal

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Bitcoin is not the strongest currency in the world and never will, I guess, but yes, you can say that Bitcoin is the strongest Crypto-currency and most valuable/demanded currency in the internet world.
Dollar is the strongest currency it is demanded in all over the world everyone is willing to accept it.

btc_angela

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For me, it is still the old Dollar that is the strongest currency in the world. No one can challenge it not bitcoin. Although bitcoin has the potential, it won overtake USD. Plus bitcoin price is so volatile and unstable. Even the world crypto currency is still no matched for the USD. We also have to remember that all currency in the world is leverage against USD including btc, that's how USD is so stable and so strong.

Panda Trump

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Quote from: fireball4 on June 07, 2017, 11:12:21 AM

Quote from: icecube45 on June 07, 2017, 10:33:51 AM

Quote from: melvster on March 22, 2013, 09:43:58 AM

After the events of last week.

I was making this suggestion to some folks yesterday, but they claimed that bitcoin is too small. Does it matter?

Bitcoin as the strongest currency in the world, maybe not. Because I think to be the strongest currency it must be stable, while bitcoin is very volatile. Because if the currency in a stable state means the economy is in good situation while if fluctuating means the economy is very fragile and risky. Maybe I think bitcoin is now not the strongest currency in the world.

Bitcoin is volatile at the moment, but as you can see the more investors jump into bitcoin the harder it is to affect the price greatly because more money is needed to actually move the price. It is definitely not the strongest currency at the moment, but the more it survives all the tries to centralize it and control it and the more money gets poured into it it becomes increasingly stronger.

Quote from: myternity on June 07, 2017, 10:20:04 AM

you need about 150 mill usd to change the price of btc for 1 dollar, that means it is very far from being strongest or even just strong

Wait what? How was that calculated? You can divide the market cap by the current bitcoin price what would give you 46bil/2900=150mil though it is not the accurate calculation as the buy walls are different on different prices.

So it might take for example only 75 mil to dump the price the first dollar, but 80 mil to dump the second dollar and 500 mil to dump the 200th dollar if that makes sense.

Quote from: Panda Trump on June 07, 2017, 09:59:23 AM

Quote from: King Sastro on June 07, 2017, 04:56:11 AM

Quote from: syaripudin on June 06, 2017, 11:23:06 PM

For now I think bitcoin is not yet the strongest currency, because not everyone has, internet network connection, so its conclusion how can we, transact using bitcoin without having computer device

Yeah right, this is because the user bitcoin is no more than 5% of the total population of the world, and I think the USD is still the strongest. If the user is bitcoin has reached 50% of the total world population, we would say the strongest currency is bitcoin.

Wait a second... There are 350 million bitcoin users?

It seems to be just a wild guess as well like the guy with the price that I commented above. To be honest there is no way to check how many people are using it and for 40 bil market cap 5% of all planet people seems way too much.

Yeah, I also think the total amount of bitcoin users is far lower than 5%... 350 million bitcoin users just doesn't seem logic...

UCHCHILD

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It is just that they do not know what bitcoin is.
But then bitcoin is the strongest CRYPTO CURRENCIES because Dolla take the leads of world strongest currency which is paper money.
It id bettet if you just make your words with your friends because there were times that people were confused of what is bitcoin is it scam or what. So it leads their mind that it is too small to be invested on which they do not know it is good for investment.

qwertyup23

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It really varies depending on your point of view. The strongest currency in the world right now for people who does not use bitcoin is of course paper money since it can buy the daily essentials of an individual. But for people who knows about bitcoin and uses it as a form of investment, it is without a doubt the strongest currency right now due to its increase in price consistently.

skorupi17

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Bitcoin is undoubtedly strong but definitely not the strongest currency. Bitcoin is still unstable and full of uncertainties. There are rumors about an altcoin has a chance of overtaking the place of bitcoin so we cannot label bitcoin as the strongest now. Bitcoin is still far from being the strongest but it has the potential of being the one. Bitcoin is still young, it has to surpass many obstacle first before becoming the strongest currency in the world.

arpon11

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From beginning some people said bitcoin can not become something so they refused to invest into it. Now bitcoin is now competing with most of the world currencies. Bitcoin is going to be a number one “world currency”.

bouren

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Quote from: melvster on March 22, 2013, 09:43:58 AM

After the events of last week.

I was making this suggestion to some folks yesterday, but they claimed that bitcoin is too small. Does it matter?

Yes they are pretty right. We can't claim bitcoin to be the strongest currency of the world when 80% of its users don't even consider it to be currency. They are just interested in making some profits by investing in bitcoin. If we want bitcoin to be more mainstream, we need to promote it as currency.

fireball4

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Quote from: icecube45 on June 07, 2017, 10:33:51 AM

Quote from: melvster on March 22, 2013, 09:43:58 AM

After the events of last week.

I was making this suggestion to some folks yesterday, but they claimed that bitcoin is too small. Does it matter?

Bitcoin as the strongest currency in the world, maybe not. Because I think to be the strongest currency it must be stable, while bitcoin is very volatile. Because if the currency in a stable state means the economy is in good situation while if fluctuating means the economy is very fragile and risky. Maybe I think bitcoin is now not the strongest currency in the world.

Bitcoin is volatile at the moment, but as you can see the more investors jump into bitcoin the harder it is to affect the price greatly because more money is needed to actually move the price. It is definitely not the strongest currency at the moment, but the more it survives all the tries to centralize it and control it and the more money gets poured into it it becomes increasingly stronger.

Quote from: myternity on June 07, 2017, 10:20:04 AM

you need about 150 mill usd to change the price of btc for 1 dollar, that means it is very far from being strongest or even just strong

Wait what? How was that calculated? You can divide the market cap by the current bitcoin price what would give you 46bil/2900=150mil though it is not the accurate calculation as the buy walls are different on different prices.

So it might take for example only 75 mil to dump the price the first dollar, but 80 mil to dump the second dollar and 500 mil to dump the 200th dollar if that makes sense.

Quote from: Panda Trump on June 07, 2017, 09:59:23 AM

Quote from: King Sastro on June 07, 2017, 04:56:11 AM

Quote from: syaripudin on June 06, 2017, 11:23:06 PM

For now I think bitcoin is not yet the strongest currency, because not everyone has, internet network connection, so its conclusion how can we, transact using bitcoin without having computer device

Yeah right, this is because the user bitcoin is no more than 5% of the total population of the world, and I think the USD is still the strongest. If the user is bitcoin has reached 50% of the total world population, we would say the strongest currency is bitcoin.

Wait a second... There are 350 million bitcoin users?

It seems to be just a wild guess as well like the guy with the price that I commented above. To be honest there is no way to check how many people are using it and for 40 bil market cap 5% of all planet people seems way too much.

Xester

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Quote from: icecube45 on June 07, 2017, 10:33:51 AM

Quote from: melvster on March 22, 2013, 09:43:58 AM

After the events of last week.

I was making this suggestion to some folks yesterday, but they claimed that bitcoin is too small. Does it matter?

Bitcoin as the strongest currency in the world, maybe not. Because I think to be the strongest currency it must be stable, while bitcoin is very volatile. Because if the currency in a stable state means the economy is in good situation while if fluctuating means the economy is very fragile and risky. Maybe I think bitcoin is now not the strongest currency in the world.

I agree with you. Plus the fact that it is not yet recognized in other countries and maybe not yet known. I think gold and USD are the strongest right now. But maybe gold, because it stand the test of time. It was used even before the time of Jesus as there money. If bitcoin will have the highest price and continues to get high, then maybe it can become.

icecube45

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Quote from: melvster on March 22, 2013, 09:43:58 AM

After the events of last week.

I was making this suggestion to some folks yesterday, but they claimed that bitcoin is too small. Does it matter?

Bitcoin as the strongest currency in the world, maybe not. Because I think to be the strongest currency it must be stable, while bitcoin is very volatile. Because if the currency in a stable state means the economy is in good situation while if fluctuating means the economy is very fragile and risky. Maybe I think bitcoin is now not the strongest currency in the world.

Gotottack

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Quote from: melvster on March 22, 2013, 09:43:58 AM

After the events of last week.

I was making this suggestion to some folks yesterday, but they claimed that bitcoin is too small. Does it matter?

I believe it would still be the USD or other developed country's currency. The bitcoin is small because even a small bank can just buy every bitcoin on earth even at these prices. I believe it doesn't even reach a trillion dollars in market value so that's pretty much easy to buy off in case some banks would offer to buy it.

myternity

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Yo!

you need about 150 mill usd to change the price of btc for 1 dollar, that means it is very far from being strongest or even just strong

Text

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To answer the question, bitcoin is not the strongest currency in the world rather the most expensive one. It is just only a digital currency then I can say it is stongest among all crypto currencies. US dollars is the leading and gold is the best asset.

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