Topic: Is Bitcoin ready for world wide 1 currency? - page 7. (Read 2402 times)
How do you imagine that? 90% of bitcoin is concentrated in a narrow circle of holders. If they make bitcoin the world's currency they will be very happy to manage all of you do you want?
Not yet. Corona virus will not be the reason that push bitcoin as the world currency as we all know that there are many alternative for fund transaction online if a person is scared to hold physical money. But this pandemic can help bitcoin to boost its market.
This corona pandemic definitely boosted the market share of Bitcoin's. In my opinion its a great opportunity for the crypto world. The last few weeks showed how strong the bitcoin market really is. The more investors we cam convince to invest in bitcoins the higher the prices in the future. And with higher prices the chances of Bitcoin becoming the first world currency rises too. It will probably take another few years but the possibility is definitely there. Not yet. Corona virus will not be the reason that push bitcoin as the world currency as we all know that there are many alternative for fund transaction online if a person is scared to hold physical money. But this pandemic can help bitcoin to boost its market.
The idea of reaching more peple and let them be involve to this system are being boosted by this pandemic situation, now that there are many people who realized that bitcoin is another alternative during this time, though there are lots of digital payment process bitcoin also gathered those who are learning the system and now using it to send their money or payments online.
Emerging as the world's number 1 currency is not an easy task. The current currency is used as a measure of a country's economic viability and growth rate. At present, the top currencies are established based on the economic potential and size of the economy of those countries. The emergence of another new currency as the number 1 currency is a very difficult and time-consuming matter. So it is easy to say that Bitcoin has not yet reached the stage of establishing itself as the number 1 currency. So it can be said that Bitcoin needs more popularity and time to become the number 1 global currency.
Not yet. Corona virus will not be the reason that push bitcoin as the world currency as we all know that there are many alternative for fund transaction online if a person is scared to hold physical money. But this pandemic can help bitcoin to boost its market.
This corona pandemic definitely boosted the market share of Bitcoin's. In my opinion its a great opportunity for the crypto world. The last few weeks showed how strong the bitcoin market really is. The more investors we cam convince to invest in bitcoins the higher the prices in the future. And with higher prices the chances of Bitcoin becoming the first world currency rises too. It will probably take another few years but the possibility is definitely there.
Bitcoin is really ready to become a currency for people all over the world, but it is too early and Bitcoin's technology needs more improvement. At present, Bitcoin's confirmation time is too late and that is an obstacle to the popular circulation of Bitcoin around the world. More effort will be needed to make Bitcoin a world financially transformable currency. That depends on the programmer's efforts in trying to upgrade the source code for Bitcoin.
I ask this because of the corona virus where people are too scared to hold money.
The issue is that we value btc against the usd and other fiat currencies. If fiat currencies were no longer how would bitcoin be valued...inflation etc? Can't get my head around how it would work.
The issue is that we value btc against the usd and other fiat currencies. If fiat currencies were no longer how would bitcoin be valued...inflation etc? Can't get my head around how it would work.
It's impossible for bitcoin to become a world number one currency because every country already have their own currency which issued by the banks and their government. Also bitcoin is decentralize which is government don't want because they don't have full control on it.
Readiness should start with the people, bitcoin is just a currency, it will stay whether we use it or not.
Being a worldwide currency is possible because as of now anyone can use it since it's decentralized, so no one could stop.
However, if we are talking of adoption, it needs educating people about bitcoin which is not easy and unlikely to happen for everyone to understand the use of bitcoin as it's not really useful for everyone, look, we have fiat system, people get used to it already, so why change?
Because bitcoin is an online currency, how about online banking with fiat currency?
Being a worldwide currency is possible because as of now anyone can use it since it's decentralized, so no one could stop.
However, if we are talking of adoption, it needs educating people about bitcoin which is not easy and unlikely to happen for everyone to understand the use of bitcoin as it's not really useful for everyone, look, we have fiat system, people get used to it already, so why change?
Because bitcoin is an online currency, how about online banking with fiat currency?
I don't think the Bitcoin is ready to be the first world wide currency as I've seen it's not yet fully accepted world wide and most of the information about Bitcoin and cryptocurrency is not yet adopted world wide also the lack of technologies and in needs of internet connection in order to make a transaction.
Yeah, Bitcoin is still very far from being accepted as a world currency. For example, for developing countries, there are various cultures and activities that can't be replaced with digital at this time. For example, such as payment and banking. Maybe in a country with a high level of technology, of course traditional problems are quite easy to solve, but with people with diverse cultures, they are still happy in a conventional and traditional way I think it's not possible for now, because people can still use e-money which doesn't need to be touched by hands and the value is controlled by the government so it's more stable than bitcoin and other cryptocurrencies.
The idea behind bitcoin is that the government will have less control over the currency and i am sure in this day and age when government can come up with stupid policies that could ruin the countries economy and there are many instances we have seen the blunders in financial policies ruining the entire financial system and with bitcoin people can save their hard earned savings in a decentralized currency so that their valuation are kept intact and you should take these into consideration as well. 
I don't think the Bitcoin is ready to be the first world wide currency as I've seen it's not yet fully accepted world wide and most of the information about Bitcoin and cryptocurrency is not yet adopted world wide also the lack of technologies and in needs of internet connection in order to make a transaction.
This is not going to happen because bitcoin is never been in this position we have to settle many things for this and its really need some very serious intention and many other things fiat currency is going with his way and bitcoin or crypto cannot take this position specially for many daily basis needs or some other facts also need to be work out someone need petrol for his car and he cannot pay through this as its nature is unpridcitable and petrol price have to pay on spot which is really serious issue.
There are such concepts as efficiency and purchasing power, and we will evaluate) Without the dollar, it will actually be even easier, and BTC inflation in principle can not affect.
Yes, if bitcoin becomes the world's currency I think maybe inflation can be suppressed but we still won't know for sure, because when a currency has become popular then at least there will be big changes that will occur so that the inflation rate will remain because of something being popular in that society will have a strong effect on the market.
There are such concepts as efficiency and purchasing power, and we will evaluate) Without the dollar, it will actually be even easier, and BTC inflation in principle can not affect.
Well, I don't want any crypto to become a worldwide currency.
If it happens people stop using the fiat and the government can become poor which highly affects our economy.
When we buy something we pay some taxes to the government which helps to develops the country.
If we stop paying our government then it will be awful for us.
That's what bitcoin and other cryptocurrency are doing these are tax-free and that that's the main point why governments are against it and they don't want their people to involve with it
If bitcoin is the world's currency, it doesn't mean it should replace national fiat. Your country's currency can still be used only in your country, but bitcoin can be used in any country. after all, why are you so dependent on the country and the government? can't you be independent without having to be financed by the country?If it happens people stop using the fiat and the government can become poor which highly affects our economy.
When we buy something we pay some taxes to the government which helps to develops the country.
If we stop paying our government then it will be awful for us.
That's what bitcoin and other cryptocurrency are doing these are tax-free and that that's the main point why governments are against it and they don't want their people to involve with it
That is not how it would work. The fiat wouldn't stop even if we in crypto just use BTC. In fact it won't stop because the government is already up for digital fiat. The US government even has a whitepaper for the digital dollar to which they can certainly collect tax from it even if we use crypto.
Bitcoin also will not be a worldwide 1 currency.
Well, I don't want any crypto to become a worldwide currency.
If it happens people stop using the fiat and the government can become poor which highly affects our economy.
When we buy something we pay some taxes to the government which helps to develops the country.
If we stop paying our government then it will be awful for us.
That's what bitcoin and other cryptocurrency are doing these are tax-free and that that's the main point why governments are against it and they don't want their people to involve with it
If bitcoin is the world's currency, it doesn't mean it should replace national fiat. Your country's currency can still be used only in your country, but bitcoin can be used in any country. after all, why are you so dependent on the country and the government? can't you be independent without having to be financed by the country? If it happens people stop using the fiat and the government can become poor which highly affects our economy.
When we buy something we pay some taxes to the government which helps to develops the country.
If we stop paying our government then it will be awful for us.
That's what bitcoin and other cryptocurrency are doing these are tax-free and that that's the main point why governments are against it and they don't want their people to involve with it
I ask this because of the corona virus where people are too scared to hold money.
The issue is that we value btc against the usd and other fiat currencies. If fiat currencies were no longer how would bitcoin be valued...inflation etc? Can't get my head around how it would work.
people decide the value of crypto, because if most of holders refuse to sell their assets - price will go up, since demand is rising up and supply is falling down constantly. The issue is that we value btc against the usd and other fiat currencies. If fiat currencies were no longer how would bitcoin be valued...inflation etc? Can't get my head around how it would work.
I think is too early for bitcoin to become worldwide 1 currency.
There are still some country who still look at the bitcoin as a scam currency because them don't have any idea concerning the currency. Gold is still more popular than bitcoin in the world and also older than bitcoin in the areas of investment.
Many countries are still banning bitcoin not to be use in their government,think it will collapse their currency but never know it's a decentralized currency that is not control by the government. Many countries really understand gold which is well legalized most of the country of the world. Many of their citizens are use to gold for investment and also use it to grow their businesses in the country.
This is presently happening in my country, whenever I try bringing up bitcoin stuff I got neglected and those who can reply me will say it's scam but now I believe things should start changing since PayPal is now into Bitcoin and cryptocurrency, this will create room for more adoptions around the world, world wide one currency is still far away but world wide digital currency is already achieved, Bitcoin will remain the first and the best There are still some country who still look at the bitcoin as a scam currency because them don't have any idea concerning the currency. Gold is still more popular than bitcoin in the world and also older than bitcoin in the areas of investment.
Many countries are still banning bitcoin not to be use in their government,think it will collapse their currency but never know it's a decentralized currency that is not control by the government. Many countries really understand gold which is well legalized most of the country of the world. Many of their citizens are use to gold for investment and also use it to grow their businesses in the country.
I think bitcoin is not yet ready to become world wide currency because it is still in development process. Also government still not accepting it because it was decentralized digital currency and every country has already a currency issued by the government and used by the people daily,
I think Bitcoin has a long way to go. It is not yet fully prepared. However, the way people are associating with Bitcoin day by day, Bitcoin will soon be appreciated everywhere.
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