Topic: The acceptance of cryptocurrency worldwide - page 6. (Read 1428 times)

Bitcoin legalization actions gained speed recently. Even a country like Russia that was against Bitcoin has started to lean towards it. If the acceptance rate continues to increase like this, it will be awesome to see much more people use Bitcoin on almost everything.

Individual payment still available for using bitcoin and altcoin as currency when you send money for your friend or make payment on some website, but for government many country still not give access for bitcoin and altcoin become legal currency payment because they think have many risk with bitcoin suddenly could dump and make many people will lost chance with their transaction, how ever not all people and company will sell bitcoin after receiving from payment and they will hold several day before selling so it have chance for bitcoin back to lower price or keep going to higher price.

For the sending money purpose I don't think you need a government regulation. You can do it now as long as the reciever already know how to change bitcoin to money fiat. I've done this several times (actually I have more times to use altcoin) because I have a friend who study abroad, I suggest to his parent to using crypto currency rather than money fiat. I think the government will allowed it if they know using crypto currency is more efficient then their service. But, for the payment purpose I'm sure it needs more times, the government will have a thousands of reasons for the citizen to keep using money fiat.

Bitcoin has a very high potential of becoming a world currency and I think it is already used in a lot of countries around the world as a currency and a digital currency.

Not all cryptocurrency is going to go around the world as their are so many cryptocurrencies that don't actually have a value. As bitcoin adaptation continues we could see a lot of platforms of the banking system that are already supporting bitcoin conversion that is actually a good sign that bitcoin is being recognized around the world. Bitcoin technology is revolutionary compared to fiat money and it is actually a big jump but still not supported by a lot of countries or government, but as bitcoin adaptation continues it is going to be easy for bitcoin we be used by a lot of people.

Not sure if the speed of depositing my money into a bank account has the same speed as sending transactions in Bitcoin, but I don't think it will ever be the same as both of it.
Bitcoin can be exchanged to fiat money but it is gonna be a bit tough to be adopted as a means of payment to some merchants due to volatility of the price as we know it.

Yes, it could also be a centralized chain entirely controlled by the banks. Without decentralization, just focusing on security, they will utilize Blockchain technology for their work. China is doing the same, they are just admitting blockchain technology, there is no room for Bitcoin or any kind of altcoin in their system.

The volatility is the major problem there since I believe those big institution will be worried about something bad happen if the market turn red and they cannot react properly since they are new industry and might this is the reason of there fall down.  But hopefully all will be in places and education drive will be conducted to make this kind of worries erased so that the economic growth of bitcoin will  rise up.

Bitcoin's volatility can be a hindrance towards its acceptance in the community worldwide.

It will surely take a lot of time before this bitcoin to become fully accepted by the people because it is still under development. It still have a lot of flaws although it is the most popular cryptocurrency and it is profitable. My perception towards bitcoin is that it can possibly become accepted in public but this is not the right time to think about that.

Bitcoin was made to dominate the market and we just need to wait for it to happen.

Also problem with the economy and every government, it is not that easy to achieve bitcoin's adoption due to its reputation.

If scamming and hacking scenarios are still existing in the news that makes the public have a bad reputation towards it, bitcoin's acceptance in the community is really hard to achieve. I'm just thinking about other factors, i'm stating some facts because there are still a lot of newbies who are getting fooled in a cryptocurrency industry, which is not a good thing.

Regulation is also a main problem and an another factor to consider.

Bitcoin can be accepted worldwide as a part of shadow economy. No way it will be the world official currency or the world reserve currency like a dollar nowadays.

Easy to say but hard to be done. Making people understand how Bitcoin works and what the importance of its existence is already a big challenge for most people are not that interested on getting into crypto because we are all have different preferences on the kind of currency we are going to use. Even if we are already in the modernized world where digitalization is present, still there are lots of people who patronize using fiat money rather than digital ones like cryptos for they find it difficult and complex to understand. Acceptance,  legalities and other concerns and many other factors which includes the presence of the government views towards Bitcoin and the whole cryptocurrency is making it hard for people to accept and adapt on using it on their certain countries. Accessibility on the advancement of technology and resources must be taken into consideration so that there is no single person to be left behind on wanting to adapt and accept cryptocurrencies which is yet far beyond to happen because there are still remote place that do not have access on technology.

But maybe in the near future, it might be possible that every single country around the world can be able to accept and adapt using cryptocurrency. But as for now, it is still far impossible.

Adoption is on the move but dont let your hopes too high because we know on whats Bitcoin when it comes to anonymity and decentralization  which is primarily the big cons or
that do opposes centralization on where governments do prefer.This is why we do really see some do accept crypto and some do totally ban it and we cant changed those kind of decisions
since each leader will really have different approach towards it thats why its impossible to expect about full adoption on worldwide scale but somewhat we are seeing that theres
really a progress when it comes to recognition but to point out that this will really just remain as an alternative.

Many country had legalised crypto currency. Some country legalised a specific number of currency.Whatever bitcoin will be on safer side.Some of the wireless transfer is happening through bitcoin now.If it's accepted by all over the world, surely it had capable to replace the dollar. Now dollar is common one for the transaction, it may be replaced by bitcoin.

Cryptocurrency will one day be accepted worldwide. Because it bestows us a lot of windfalls. Although there are some impediments, in my viewpoint, the proportion of windfalls is more. Hopefully one day everything will be great.

You can do all the things by now itself, no need for government approval and I doubt they will never will because government want to have control over the currency we are using so they are not going to let the bitcoin is going to be the main currency of this world.

Bitcoin and other cryptos have its cons too especially if it is used by more people like the blockchain network will be congested which makes the tx fee reach a huge value which will not fit for smaller payments which we are going to make in everyday life.

Very happy to see another cryptocurrency lover but sir this is still experimental position in world economy. As there is no middle men and decentralized method all are in fear of acceptance BTC as well as cryptocurrency. But in this COVID season government and investors must thought about secure online investment so that huge investment came and at the same time US central bank, Swiss bank making custody of BTC. So we also hope like you that BTC will be world wide today or tomorrow.

thanks.

Said issue is happening because the government basically limits everything behind the issue of security(or their inability, or whatever reason you can cook up for them), it's only a matter of time imo before instant transactions happen anywhere. I also used to think BTC being adopted worldwide was for the best, but my time with crypto proved otherwise. It's a lot better for centralized systems to actually be implemented and adopted in the long run, while BTC (or any other crypto for that matter) just needs to stand at their own place. It's like they're welcome to the world, but not absolutely needed or required by anyone. It can be used anywhere, but not necessarily everywhere.

I don't agree with this. We don't need altcoins to be accepted worldwide. I really couldn't care less if XRP burns in a flame of bankruptcy one day or if Craig Wright's shitcoin gets delisted from every single exchange. Why would you need BCH or any other useless coin to be accepted worldwide if Bitcoin is not.
IMO we don't desperately need acceptance. We need to move forward with each year and the longer BTC stays on the map the stronger it will become. More people will get used to it and understand that it's safe and it's here to stay. I hate gold comparisons, but gold isn't accepted everywhere. You actually have to search a bit before you find a gold exchange near you.

Not what I had in mind. What I think is that Bitcoin serves one of it's main purposes as long as people use Bitcoin to store their wealth, and just sell small chunks for fiat when they need to spend money on places that doesn't accept BTC.

In a way this unpopular opinion isn't completely out of reason. What we need desperately is to have worldwide acceptance of digital currency not particularly BTC but other cryptos. BTC is only a small fraction of the crypto 'per say' but adoption is much more important for its predecessors as that's where the real value lies.