Topic: The acceptance of cryptocurrency worldwide - page 4. (Read 1428 times)
No government regulates cryptocurrency centrally, so each government takes different approaches to controlling bitcoin and other cryptocurrencies. The power to shift the cryptocurrency market is granted by new bitcoin regulations, Regulations will depress the trading values of cryptocurrencies in the short term, in the long run, controls are supposed to balance the economy and make it a safer investment if done correctly.
In the near future, it seems impossible for cryptocurrency to be accepted in all countries, because there are still some countries that
prohibit the use of cryptocurrency. But in a few years, finally all countries in the world will accept Bitcoin, but it is impossible to become
a global currency to replace fiat. Because fiat has been used for thousands of years by humans, so it is impossible to simply replace it
by Bitcoin. Moreover, Bitcoin cannot be controlled by the government, therefore it is possible that Bitcoin is only an alternative payment.
It will take a long for everybody in other countries to accept bitcoin and other cryptocurrencies because they still don't consider bitcoin as a currency and good investment due to vast numbers of scams fraudulent activities. Also, Bitcoin is decentralized that no organization or person can control bitcoin, not even the government; that is why the government still supports fiat over bitcoin. prohibit the use of cryptocurrency. But in a few years, finally all countries in the world will accept Bitcoin, but it is impossible to become
a global currency to replace fiat. Because fiat has been used for thousands of years by humans, so it is impossible to simply replace it
by Bitcoin. Moreover, Bitcoin cannot be controlled by the government, therefore it is possible that Bitcoin is only an alternative payment.
Undoubtedly, the future belongs to cryptocurrencies. But I don't think it will be a single cryptocurrency for all countries. The main issue today is the lack of widespread adoption of cryptocurrencies by states.
Blockchain technologies became very interesting for many countries for some time, but due to the lack of legislative interest, they ceased to be relevant. Until cryptocurrencies are regulated by the government, cryptocurrencies cannot be the one currency for everyone.
However, some countries are interested in their own cryptocurrency. Russia plans to create its own crypto-ruble.
https://cointelegraph.com/news/five-russian-banks-express-interest-in-piloting-digital-ruble
China also introduces its own crypto-yuan.
https://news.bitcoin.com/digital-yuan-giveaway-10-million-central-bank-digital-currency/
Blockchain technologies became very interesting for many countries for some time, but due to the lack of legislative interest, they ceased to be relevant. Until cryptocurrencies are regulated by the government, cryptocurrencies cannot be the one currency for everyone.
However, some countries are interested in their own cryptocurrency. Russia plans to create its own crypto-ruble.
https://cointelegraph.com/news/five-russian-banks-express-interest-in-piloting-digital-ruble
China also introduces its own crypto-yuan.
https://news.bitcoin.com/digital-yuan-giveaway-10-million-central-bank-digital-currency/
Bitcoin is created to function as an alternative for cash. However, it will take time before Bitcoin or even crypto as a whole to be recognized as an alternative fiat because not everyone is aware of it yet, and crypto is not yet accessible to anyone yet. Not all merchants are accepting crypto, the function of crypto as of today is limited.
There are still low level of acceptance of cryptocurrency worldwide. In some countries it still illigal.
First problem - regulation
Second - low amount of users that really want to pay with crypto
First problem - regulation
Second - low amount of users that really want to pay with crypto
If the case will be for the entire cryptocurrency adoption, this is really revolutionary, it could change the financial transactions leading to development. But my opinion if we will consider bitcoin for overall transactions, I can say, bitcoin is not the suitable crypto to deliver exactly what we need. But bitcoin could unite the world by being the standard financial asset for savings as its value is becoming good, as time passes by. The procedure could be like this, everyone could store their funds on bitcoin, convert it to suitable crypto based on their needs (Maybe based on their area, transaction speed, transaction fees and other factors). Meaning, that Bitcoin still, accomplish it's purpose to unite the world.
In the near future, it seems impossible for cryptocurrency to be accepted in all countries, because there are still some countries that
prohibit the use of cryptocurrency. But in a few years, finally all countries in the world will accept Bitcoin, but it is impossible to become
a global currency to replace fiat. Because fiat has been used for thousands of years by humans, so it is impossible to simply replace it
by Bitcoin. Moreover, Bitcoin cannot be controlled by the government, therefore it is possible that Bitcoin is only an alternative payment.
prohibit the use of cryptocurrency. But in a few years, finally all countries in the world will accept Bitcoin, but it is impossible to become
a global currency to replace fiat. Because fiat has been used for thousands of years by humans, so it is impossible to simply replace it
by Bitcoin. Moreover, Bitcoin cannot be controlled by the government, therefore it is possible that Bitcoin is only an alternative payment.
If all countries can accepted crypto currencies in there various countries, as a means of payment and as a means of online exchanges, such as money is, money is anything use as a means of exchange and general acceptable. With the means I think all cryptocurrencies (bitcoin) will definitely go round the world, and will be use as a means of exchange. I will be so grateful to the creation of crypto currencies. This will also help our future generation, Remember something when we do international transfer across the countries, it may take a while to get the money to your local bank account, but with cryptocurrency you can get instant reflection if bitcoin etc is transfer to wallet,And you can make use of your coin (bitcoin ETC).
bitcoin has already around the world though in many countries it is not accepted yet people of those countries still accumulating Bitcoin for Holding.also Bitcoin can be use as transaction material.
and also converting into Fiat is so easy(well that's in my country) that you an just send the amount into your detail and the Money can be picked up in each branches of Money order company.
but i know in other countries bank account is a must before converting your bitcoin into currency.
There are many things to be considered first before it happened and I think it will take so long years. The good thing about it, even though many countries do not accept bitcoin they still allowed some people to have a crypto transaction, like transferring funds, trading, and investing.
The future global currency will not be based on Bitcoin or any of the current alts in my opinion. It will be a centralized virtual currency operated by the banking elite.
That's true, of course they wouldn't choose the decentralized one because they can control it at all, banks and crypto are different ones and they are still on favor of banks because many people are using it and this is the tradition of many countries. 
The future global currency will not be based on Bitcoin or any of the current alts in my opinion. It will be a centralised virtual currency operated by the banking elite.
It will be the scariest thing that can happen. They may paint it as virtual currency but they will still be using the old system. Although it is a scary thing to imagine, it is still has a long way to go before it can happen on a global scale. With the current political climate of superpower countries, it speeds up an unprecedented future for everyone in the world.
It will still be very long... but it's on the way! We have to be patient, this is a major change in the financial world.
If it had been so easy, most countries would have accepted cryptocurrencies long time ago. Unfortunately, the mass adoption is a complicated process.
Accept to be payment, yes obcourse it might be very possible for cryptos to gain this on the long run. But as the center of finance of a country, I dont think so. Bitcoin cannot be controlled by anyone, meanwhile the financial system of a country should be well manage and always guided by the central banks. Let's just advocate for crypto as a legal tender.
Its obvious that the possibility is not in doubt for all countries to accept means of payment with cryptocurrency especially bitcoin, because looking at what is happening currently the evidence is quit clear that many countries has started legalising cryptocurrency especially bitcoin in there societies, so the Chance of been adopts bitcoin for salary of civil servants or industrial workers is there without problem.
I seems that paying workers with bitcoin, it will not generally accepted by everyone but for certain individuals that will compromise to it, because some person's in some countries don't really know rudiments of cryptocurrency especially the most populous crypto known as bitcoin how it operates,and even some certain old adult's taught that Btc is scam and them can't allow their payment to come with bitcoin, only people that will slightly accept payment via Btc should be the young adults, and before every young adults accept it massively it will be legalized by their country, which the country law makers will implement.
I seems that paying workers with bitcoin, it will not generally accepted by everyone but for certain individuals that will compromise to it, because some person's in some countries don't really know rudiments of cryptocurrency especially the most populous crypto known as bitcoin how it operates,and even some certain old adult's taught that Btc is scam and them can't allow their payment to come with bitcoin, only people that will slightly accept payment via Btc should be the young adults, and before every young adults accept it massively it will be legalized by their country, which the country law makers will implement.
Possibly, regulations around the cryptocurrency world wouldn't give the opportunity for the global adoption to take place. Until these stiff regulations are out of cryptocurrency world global adoption will be a big challenge, though there are good numbers of acceptance from the cryptocurrency but it adoption hasn't been felt. Hope to see some of cryptocurrency problems regarding regulations be solve within a short period of time.
It will take a very long time to wait for global acceptance. Just enjoy the process and I am very grateful that many people realize that cryptocurrency provides great benefits, as evidenced by the increasing adoption of cryptocurrency in the real world. All systems have pros and cons, right? moreover, cryptocurrency is a new technology. Don't worry too much about complicated things, just think about how we can take advantage of the opportunities in this crypto world.
If all countries accepted bitcoin and other altcoins as may currencies then it would be a win-win situation for us pioneers. However, it might also possible to have regulation to the asset that we handle. Just like imposing of laws like tax when you are earning specific amount of cryptocurrency. Well, it is good for me as long as the money will goes to the project of the government and not to their pocket.
Worldwide acceptance is still too low. There are a lot of problems with regulation and merchants adoption. And still, not so much people need it in general
Possibly, regulations around the cryptocurrency world wouldn't give the opportunity for the global adoption to take place. Until these stiff regulations are out of cryptocurrency world global adoption will be a big challenge, though there are good numbers of acceptance from the cryptocurrency but it adoption hasn't been felt. Hope to see some of cryptocurrency problems regarding regulations be solve within a short period of time. 
I think that the overall acceptance has increased and that the progress is visible but still that is not satisfying. However, this is a long process and we need to be aware that for many people Bitcoin is a novelty. Nothing happens over night and maybe there are still no full conditions for Bitcoin to be fully accepted.
In the near future it is impossible for cryptocurrency to be accepted worldwide, because there are still countries that cannot accept
Bitcoin and some countries even prohibit the use of cryptocurrency. Although this fact is sad, the popularity of Bitcoin is gaining popularity,
made some countries that prohibit Cryptocurrency change their minds and start accepting cryptocurrency. Although only limited as a digital
asset. But this is a positive thing, that maybe Bitcoin will gradually begin to be accepted as payment. We really have to be patient so that
Bitcoin can really be accepted by all countries in the world.
I also agree with you, it is impossible to accept cryptocurrency worldwide in the near future. However, even though cryptocurrency is banned in many countries of the world, its acceptance and popularity, especially Bitcoin, is increasing day by day. The use of cryptocurrency has increased as people are confined to their homes due to the current epidemic. Bitcoin and some countries even prohibit the use of cryptocurrency. Although this fact is sad, the popularity of Bitcoin is gaining popularity,
made some countries that prohibit Cryptocurrency change their minds and start accepting cryptocurrency. Although only limited as a digital
asset. But this is a positive thing, that maybe Bitcoin will gradually begin to be accepted as payment. We really have to be patient so that
Bitcoin can really be accepted by all countries in the world.
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The future global currency will not be based on Bitcoin or any of the current alts in my opinion. It will be a centralised virtual currency operated by the banking elite.
If the future of global digital currency is not Bitcoin and current altcoin in the market then I don't see the world having a global digital currency due to the rules and regulations some countries which are different from each other not to mention the economy, bilateral trade and political foes happening between some countries.Jump to: