Topic: The use of Bitcoin as a local currency! - page 3. (Read 956 times)
I don't think that's possible. Bitcoin is not physical but digital, and not everyone can access digital money because of technological limitations. Moreover, Bitcoin is also very volatile and unstable so it will be difficult to control. Every country that prohibits the use of Bitcoin as a means of payment in their country must have their own reasons that are really important with the policies they make. There must be a strong and basic reason that they have thought through carefully, so changing the policy will definitely be difficult. Bitcoin is more suitable as an investment because the profits are really promising and you can get rich suddenly.
In my opinion, accepting BTC into use as a payment currency is a pretty good thing, and we are living in a time when BTC technology is the foundation of money technology in this respect. development of all of us, for the benefit of long-term storage with no security problems only you can use it, no tax and you are completely free of your own finances.
If it's officially and recognized by the state for now then it's like impossible. The IMF and the World Bank also seem to have refused to use bitcoin and other crypto as a means of transaction, because they are volatile. But that's right now, I don't know for next year. But if the concept remains volatile it looks like impossible.
In my opinion, accepting BTC into use as a payment currency is a pretty good thing, and we are living in a time when BTC technology is the foundation of money technology in this respect. development of all of us, for the benefit of long-term storage with no security problems only you can use it, no tax and you are completely free of your own finances.
older dont really know enough about bitcoin, you need to explain more and more. when younger know about bitcoin, they will find the best way how to use it, i mean for money.
its hard to use bitcoin as a currency if people know how potential it is.
nation need to create own local currency, just for transaction, not as investation
its hard to use bitcoin as a currency if people know how potential it is.
nation need to create own local currency, just for transaction, not as investation
only a few countries are adopting bitcoin as a payment, but not as a currency
one thing that is impossible if bitcoin becomes a currency, where as I know bitcoin does not have a physical like fiat, the nature of the price that does not necessarily ,make bitcoin difficult to become a currency
one thing that is impossible if bitcoin becomes a currency, where as I know bitcoin does not have a physical like fiat, the nature of the price that does not necessarily ,make bitcoin difficult to become a currency
Everyone on the forum knows what Bitcoin is. We already know that many countries have removed this currency from the ban. I mean, will all the nations of the world use Bitcoin as a currency?How important will it be? It will not go to the good side to the bad side?I want to know the opinion-
I honestly don't see bitcoin being used as a global currency and i feel like a lot of people have moved away from the idea of bitcoin is a currency overall, and it is only viewed as a valuable asset and a way to earn money, and because of that i think that we will see bitcoin grow more and more and become the number one investment in the world, but i don't believe that all the countries would agree on using it as a legal currency.
No it can't be. Bitcoin is only online currency. No one can claim it as their own. It is used all over the world in the same way. The one who owns it is e. It cannot control just one country.
The only countries which I see using Bitcoin as a local currency would be under developed countries but these countries cannot afford the fees included when sending Bitcoin and it would be cheaper to use cash or fiat. I do not think Bitcoin is a good use case for local populations.
I doubt that the majority will accept it. If so, it will still be limited in so many ways; not everyone can afford to adopt the technological change, the usage will still be limited. Also, Some government wants to control, but Bitcoin architecture is protected against change. Probably one of the reasons it could be rejected.
This is also possible locally, in small towns where crypto is not prohibited. And it may well become popular, there have already been alternative currencies in history.
The only problem is that it's probably illegal since an abrupt replacement of currency for transactions might not sound good for the national government since their currency should be the one used since it needs to be circulated.
Because of consensus, we believe in Bitcoin. So the value of Bitcoin is getting higher and higher.
Bitcoin is decentralized, and some countries will worry about not being able to control Bitcoin. Ban Bitcoin without believing in Bitcoin. This is the loss of their countries.
It is true that Bitcoin has volatility, and we cannot control its volatility very small. All of us alone cannot change the price of Bitcoin, and cannot change the development of Bitcoin.
Most people still choose to invest in Bitcoin and will not use Bitcoin to pay. No one wants to buy something with 10 dollars today and it will be worth 5 dollars tomorrow.
Therefore, it will take time for Bitcoin to be a global local payment method.
Bitcoin is decentralized, and some countries will worry about not being able to control Bitcoin. Ban Bitcoin without believing in Bitcoin. This is the loss of their countries.
It is true that Bitcoin has volatility, and we cannot control its volatility very small. All of us alone cannot change the price of Bitcoin, and cannot change the development of Bitcoin.
Most people still choose to invest in Bitcoin and will not use Bitcoin to pay. No one wants to buy something with 10 dollars today and it will be worth 5 dollars tomorrow.
Therefore, it will take time for Bitcoin to be a global local payment method.
Well, I try to think of anything that can be used as a currency in the many coins that were created and Bitcoin is really a good way to exchange value. For one Bitcoin is already very valuable that you can sell any precious object and pay it in Bitcoins. The only problems that I see would be the pricing issue. Many pricing problems are risen as to how people, mainly entrepreneurs will be able to fairly price their goods and services in Bitcoin. For me it is still problematic. Knowing that what you priced right now might go up in value a few hours later.
I think it is impossible to turn bitcoin into local currency. Even if a country that was first legalized in history like El Salvado would not have reduced bitcoin's volatility because bitcoin is now on track to become a store of value as a rare asset without a trace it will becomes the core speculation. It goes against the basic rule of a currency used in a certain country and not everyone wants to use bitcoin for day-to-day activities.
The government has enough grounds and reasons to intervene
They clearly know it
The government has enough grounds and reasons to intervene
They clearly know it
It is not about good or not using Bitcoin as a local currency. However, it is about legal or not.
There are some countries that don't legalize Bitcoin if used as a currency. they may be only legal as a digital asset, not for a curreny. As in Indonesia. We cannot use it for currency. It is illegal
There are some countries that don't legalize Bitcoin if used as a currency. they may be only legal as a digital asset, not for a curreny. As in Indonesia. We cannot use it for currency. It is illegal
Before making btc as a national currency, everyone must be oriented what are the pros and cons. Just try to imagine if someone bought a Bitcoin during ATH and it crash. I think Bitcoin needs to be in 500K so volatility is not that high.
bitcoin is not approved currency in many countries. El Salvador government a few months ago declared it legal currency. But all of nation or all of the government have not adopt it still now, so that difficult to think it will get recognition as a local currency at overnight.
Everyone on the forum knows what Bitcoin is. We already know that many countries have removed this currency from the ban. I mean, will all the nations of the world use Bitcoin as a currency?How important will it be? It will not go to the good side to the bad side?I want to know the opinion-
If anyone says that they know for sure what is going to happen with bitcoins future, they are completely full of you know what. Personally I don't think that bitcoin will likely ever replace the the dollar, or whatever your currency your country has. I think that eventually there will be some sort of merging between the two, but this is likely to take some time to say the least.
Bitcoin in some countries is still prohibited if it is used as a means of transacting goods/services. But this does not rule out the possibility for you to make it an investment tool. Many people have made bitcoin an online investment venue during this pandemic like this. This cryptocurrency can be done anywhere, as long as it is important that your signal supports it, apart from filling your spare time at home, investing in cryptocurrency can also generate income.
It is really good to see Bitcoin in different manners of use. As a local currency inclusive. This uniqueness comes with the whole package. What I do not agree with is saying Bitcoin would be the general form of exchange between all countries, I doubt this would happen because I believe no country would want to build it's entire economy on an uncertain platform as Bitcoin.
Bitcoin is already far beyond this age, what I believe should happen in the future is that we adopt it and maximize it to its full potential
Bitcoin is already far beyond this age, what I believe should happen in the future is that we adopt it and maximize it to its full potential
I mean, will all the nations of the world use Bitcoin as a currency?
there is a chance for this because countries are unbanning btc . they finaly figured out that btc is not bad but it can do good to thier economy Quote
How important will it be? It will not go to the good side to the bad side?I want to know the opinion-
its important that all countries will adopt btc because this can make the btc price grow bigger and maybe more stable but what important is will now be easy to spend our btc or its use will now be widened than before .cant think of any bad effects if btc a country adopts a btc
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