Well it is already an universal, we can exchange it anywhere in the world. You take an example of any famous exchange where people from different nations are trading without any restrictions. It is not legal tender as of now but if it become legal tender than it will be great for those who travel alot and no need to have forex with us all time just need one wallet with some bitcoins that's it.
Bitcoin can be exchanged to any currency that you want around the world but that is not what we want, what we want is to use our bitcoin directly to buy the stuff we want and while the number of stores around the world accepting bitcoin are going up every day we are still struggling to find enough stores near us where we can use our bitcoin the way we want it. 
Topic: Let's suppose that Bitcoin became universal (used everywhere you go) - page 4. (Read 25646 times)
December 19, 2018, 09:53:34 PM
December 19, 2018, 05:07:30 AM
Bitcoin can never substitute for traditional fiat currency.
It was designed for different purpose and can hardly fit requirements put forward to fiat currency. If anything, there should be some new Cryptocurrency that will fit society needs and it will not be Bitcoin.
It was designed for different purpose and can hardly fit requirements put forward to fiat currency. If anything, there should be some new Cryptocurrency that will fit society needs and it will not be Bitcoin.
No, it will not substitute national currencies, but I guess that the time, when Bitcoin can be used everywhere will come. There will be BTC ATM machines, and the stores will work with this crypto.
December 18, 2018, 04:32:15 AM
If Btc is used everywhere then we are sure to see the world changing very quickly the way fiat is being used at present. This will effect the country currency and no country would let it happen . This is the draw back that due to which few country have banned this crypto currency .
Because of that reason (a threat to the government and fiat), I still cant imagine how bitcoin will be used for common transaction globally or at least as many as fiat transactions and what action will be taken by the government in the future. December 18, 2018, 01:29:16 AM
Bitcoin may be useful in the entire internet industry in the next coming year so we may expect bitcoin mass adaptability in e-commerce industry in the next coming years
If Btc is used everywhere then we are sure to see the world changing very quickly the way fiat is being used at present. This will effect the country currency and no country would let it happen . This is the draw back that due to which few country have banned this crypto currency .
December 18, 2018, 01:17:34 AM
Bitcoin may be useful in the entire internet industry in the next coming year so we may expect bitcoin mass adaptability in e-commerce industry in the next coming years
December 17, 2018, 02:30:01 PM
Governments will always use some fiat currency as a reference.
Even if BTC became THE worldwide currency, taxes and other government fees would likely still be calculated in some reference unit, maybe the US Dollar or other regional currencies.
YES I agree with you, govt really need some scalable unit for calculations taxes, GDP, per capita income etc. One thing more bitcoin has limited supply in the market so if it become universal payment method than there would be issue in future in terms of demand snd and supply and price of bitcoin can reach to millions of dollar. Even if BTC became THE worldwide currency, taxes and other government fees would likely still be calculated in some reference unit, maybe the US Dollar or other regional currencies.
So I think if bitcoin still has this high volatility, then it is still not feasible for frequent transactions.
December 17, 2018, 12:40:10 PM
Governments will always use some fiat currency as a reference.
Even if BTC became THE worldwide currency, taxes and other government fees would likely still be calculated in some reference unit, maybe the US Dollar or other regional currencies.
YES I agree with you, govt really need some scalable unit for calculations taxes, GDP, per capita income etc. One thing more bitcoin has limited supply in the market so if it become universal payment method than there would be issue in future in terms of demand snd and supply and price of bitcoin can reach to millions of dollar. Even if BTC became THE worldwide currency, taxes and other government fees would likely still be calculated in some reference unit, maybe the US Dollar or other regional currencies.
December 17, 2018, 07:32:57 AM
as per twitter ceo statement bitcoin will be internet only currency and even snapchat founder to said the same bitcoin will be major internet currency for online payments
Even today Bitcoin is used not only for the internet purchases. You can pay some bills and taxes with BTC in Switzerland, for example, and Malta, if I'm not mistaken, is on the way. Also there is an Australia-based startup that helps the residents to pay their domestic bills using Bitcoin. There are numerous hotels, cafes and shops around the world accepting Bitcoin in exchange for their goods and services. But I don't think Bitcoin can replace fiat completely in the foreseeable future because the world economy is not ready for that yet. Most people in power still don't take crypto currencies seriously and that's why we have the situation described in the OP. But even if Bitcoin will be used mostly as internet currency, its market cap can be 20 times higher than it is today.
December 17, 2018, 07:01:34 AM
Governments will always use some fiat currency as a reference.
Even if BTC became THE worldwide currency, taxes and other government fees would likely still be calculated in some reference unit, maybe the US Dollar or other regional currencies.
Even if BTC became THE worldwide currency, taxes and other government fees would likely still be calculated in some reference unit, maybe the US Dollar or other regional currencies.
December 17, 2018, 06:45:16 AM
as per twitter ceo statement bitcoin will be internet only currency and even snapchat founder to said the same bitcoin will be major internet currency for online payments
Even today Bitcoin is used not only for the internet purchases. You can pay some bills and taxes with BTC in Switzerland, for example, and Malta, if I'm not mistaken, is on the way. Also there is an Australia-based startup that helps the residents to pay their domestic bills using Bitcoin. There are numerous hotels, cafes and shops around the world accepting Bitcoin in exchange for their goods and services. But I don't think Bitcoin can replace fiat completely in the foreseeable future because the world economy is not ready for that yet. Most people in power still don't take crypto currencies seriously and that's why we have the situation described in the OP. But even if Bitcoin will be used mostly as internet currency, its market cap can be 20 times higher than it is today.
December 17, 2018, 05:21:41 AM
as per twitter ceo statement bitcoin will be internet only currency and even snapchat founder to said the same bitcoin will be major internet currency for online payments
Even today Bitcoin is used not only for the internet purchases. You can pay some bills and taxes with BTC in Switzerland, for example, and Malta, if I'm not mistaken, is on the way. Also there is an Australia-based startup that helps the residents to pay their domestic bills using Bitcoin. There are numerous hotels, cafes and shops around the world accepting Bitcoin in exchange for their goods and services. But I don't think Bitcoin can replace fiat completely in the foreseeable future because the world economy is not ready for that yet. Most people in power still don't take crypto currencies seriously and that's why we have the situation described in the OP. But even if Bitcoin will be used mostly as internet currency, its market cap can be 20 times higher than it is today.
December 17, 2018, 04:41:19 AM
Well, taxes also don't automatically get removed from your bank account either...
It would be the same if Bitcoin became universally used. Governments would just accept payment in Bitcoin, but you would be responsible for making those payments and reporting your income etc.
Also, isn't it nice that they have this big ledger (blockchain) to see what kind of income you have received.
It would be the same if Bitcoin became universally used. Governments would just accept payment in Bitcoin, but you would be responsible for making those payments and reporting your income etc.
Also, isn't it nice that they have this big ledger (blockchain) to see what kind of income you have received.
Right. But I hope that there won't be taxes and such so that bitcoin will be very useful to all. There will be no hassle on paying. And lastly, our land will be bountiful.
December 17, 2018, 03:04:52 AM
Hi,
Let's suppose that Bitcoin became adopted everywhere such as paying bills with Bitcoin,getting salary with Bitcoin,shopping,restaurant etc...
How your country gonna survive if you only use Bitcoin in a daily basis? I mean a country cannot survive if individuals doesn't pay taxes,well with Bitcoin you don't pay any tax right?
How this gonna be possible? Please shed for me some light on this.
Thanks
Let's suppose that Bitcoin became adopted everywhere such as paying bills with Bitcoin,getting salary with Bitcoin,shopping,restaurant etc...
How your country gonna survive if you only use Bitcoin in a daily basis? I mean a country cannot survive if individuals doesn't pay taxes,well with Bitcoin you don't pay any tax right?
How this gonna be possible? Please shed for me some light on this.
Thanks
I think government still survive. Every goods we buying with bitcoin or fiat money, already attached with taxes by government and i think if we buying goods in any merchant, government still get the VAT. I dont believe everyone using bitcoin for transaction if bitcoin regulated by most government in the world because many people still thinking bitcoin is investment like a gold
December 17, 2018, 02:06:05 AM
Bitcoin can never substitute for traditional fiat currency.
It was designed for different purpose and can hardly fit requirements put forward to fiat currency. If anything, there should be some new Cryptocurrency that will fit society needs and it will not be Bitcoin.
It was designed for different purpose and can hardly fit requirements put forward to fiat currency. If anything, there should be some new Cryptocurrency that will fit society needs and it will not be Bitcoin.
No, it cannot replace fiat, but I can admit that in 5-7 years, the cryptocurrencies will be used ion most places, including the land stores (not online shops only). For me, it will be very convenient.
December 15, 2018, 05:28:24 PM
Bitcoin can never substitute for traditional fiat currency.
It was designed for different purpose and can hardly fit requirements put forward to fiat currency. If anything, there should be some new Cryptocurrency that will fit society needs and it will not be Bitcoin.
It was designed for different purpose and can hardly fit requirements put forward to fiat currency. If anything, there should be some new Cryptocurrency that will fit society needs and it will not be Bitcoin.
No, it will not substitute national currencies, but I guess that the time, when Bitcoin can be used everywhere will come. There will be BTC ATM machines, and the stores will work with this crypto.
Of course, it will not replace them, but it can be used everywhere - why not, man? People will be free to choose what they want to deal with - cryptocurrencies, fiat or both of them.
It is true that Bitcoin will be used world wide in that time but it will not be substituted for thesw fiats. I think this is the reason why a lot of people hates Bitcoin. They think that it will be a substitute but it will never be. For us, Bitcoin is mostly an investment and if you invest, you save them not use them to pay your bills. Being used universaly, that will be great since the demand will be increasing and obvioisly, the price will increase too.
December 15, 2018, 04:37:13 PM
Hi,
Let's suppose that Bitcoin became adopted everywhere such as paying bills with Bitcoin,getting salary with Bitcoin,shopping,restaurant etc...
How your country gonna survive if you only use Bitcoin in a daily basis? I mean a country cannot survive if individuals doesn't pay taxes,well with Bitcoin you don't pay any tax right?
How this gonna be possible? Please shed for me some light on this.
Thanks
First, it will be a good thing for Bitcoin to be used and adopted as you have described. On the second part, I don't believe you cannot pay taxes using bitcoin. If the government wants that to happen, it is enforceable. Let's suppose that Bitcoin became adopted everywhere such as paying bills with Bitcoin,getting salary with Bitcoin,shopping,restaurant etc...
How your country gonna survive if you only use Bitcoin in a daily basis? I mean a country cannot survive if individuals doesn't pay taxes,well with Bitcoin you don't pay any tax right?
How this gonna be possible? Please shed for me some light on this.
Thanks
December 15, 2018, 06:22:15 AM
Bitcoin can never substitute for traditional fiat currency.
It was designed for different purpose and can hardly fit requirements put forward to fiat currency. If anything, there should be some new Cryptocurrency that will fit society needs and it will not be Bitcoin.
It was designed for different purpose and can hardly fit requirements put forward to fiat currency. If anything, there should be some new Cryptocurrency that will fit society needs and it will not be Bitcoin.
No, it will not substitute national currencies, but I guess that the time, when Bitcoin can be used everywhere will come. There will be BTC ATM machines, and the stores will work with this crypto.
Of course, it will not replace them, but it can be used everywhere - why not, man? People will be free to choose what they want to deal with - cryptocurrencies, fiat or both of them.
December 14, 2018, 07:54:27 AM
Bitcoin can never substitute for traditional fiat currency.
It was designed for different purpose and can hardly fit requirements put forward to fiat currency. If anything, there should be some new Cryptocurrency that will fit society needs and it will not be Bitcoin.
It was designed for different purpose and can hardly fit requirements put forward to fiat currency. If anything, there should be some new Cryptocurrency that will fit society needs and it will not be Bitcoin.
No, it will not substitute national currencies, but I guess that the time, when Bitcoin can be used everywhere will come. There will be BTC ATM machines, and the stores will work with this crypto.
December 14, 2018, 07:50:28 AM
some developed countries are very friendly with these coins, and we have seen many restaurants and various other businesses using payments with no problems. crypto has been universal for developed countries, and if we still find a country that is not familiar with bitcoin, then only need to convert to each fiat before it is actually used, this is not complicated and it doesn't matter if the assumption is that currency intermediary media only
very lucky for those who live in these developed countries, because they can use crypto to fulfill their daily needs. I can only hope that this will soon happen in my country, even though it seems like it's still a long time to wait 
December 14, 2018, 07:26:35 AM
some developed countries are very friendly with these coins, and we have seen many restaurants and various other businesses using payments with no problems. crypto has been universal for developed countries, and if we still find a country that is not familiar with bitcoin, then only need to convert to each fiat before it is actually used, this is not complicated and it doesn't matter if the assumption is that currency intermediary media only
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