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-
No it will not. As you have mentioned, several countries ban it due to the fact that these countries are afraid of the decentralisation of it. They can't tax nor benefit from using it because BTC's vision is to have an electronic money outside the authority of any central provider. In example, China bans bitcoin because they were afraid that BTC inherent speculative nature threatens their economic stability. 
Topic: The use of Bitcoin as a local currency! - page 5. (Read 1056 times)
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-
the country is struggling to strengthen the local currency as a legal medium of exchange, so it is linked to bitcoin and made into a legal medium of exchange I don't think it's possible. if bitcoin is used as a running asset, if the term is economic with the aim of strengthening the country's economy, I think it is possible and many countries have adopted it.
The era of digitalization of technology gave birth to Bitcoin as an exciting new currency for the world community. He became an alternative to complete the needs of financial transactions at the global level who crave convenience, efficiency and security.
I don’t think this would be possible in the current situation. Although Bitcoin is currently considered a good investment vehicle, it is not yet suitable for day-to-day transactions. Companies and organizations that are using Bitcoin as a medium of the transaction are aware of the future growth of Bitcoin and consider it as an investment. However, the general public, especially those who are not aware of this technology, will not be interested in managing their daily income and expenditure through it. Therefore, in the current situation, it is not possible to use Bitcoin as a local currency at all levels.
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-
As I understand you wonder if Bitcoin is likely to become less volatile in the future. Well, according to some economists, Bitcoin will become less volatile when ETFs on Bitcoin appear. It is said that all assets (for example, gold) become more sustainable when there are ETFs on them. Some countries have already accepted Bitcoin as the means of payment, so I am sure that it will sweep the globe.
For countries that doesnt have their own currency I guess they can use Btcoin. El salvador didnt have their own currency that is why they made BTC as legal tender. It will be hard for countries to abandon their established local currency because its part of their culture already.
New countries that could gain independence I guess could declare BTC as their currency easily.
Absolutely agree. For now, I think that over time, bitcoin will only become more affordable. How it will actually be - time will tell.
Bitcoin becomes the international currency. This currency is used in the worldwide. We can also named it as a local currency of the world. But the best thing is that it is not a currency of a country. And there is no owner of this currency. Satoshi nakamoto is the founder of this currency. But the concept of this currency is that it is decentralized and anyone can used it from anywhere in the world.
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-
Mass adoption is slowly happening. This is a good thing because it will benefit the cryptocurrency community. The users will have more options on what mode of payment they will use. This would also entice new investors along the way. However, bitcoin as a legal payment is still almost impossible to happen unless a particular country has no other choice but to adopt it as their local currency instead of dollar.
In addition, it would be hard for most to adopt because most people are used with traditional mode of payment. For sure, fiat will still remain to be the primary payment for transactions most especially given that cryptocurrency's nature decentralized and volatile. It would be very hard for the government to control, regulate, and monitor it the moment they will accept it as a local currency. They wouldn't just allow a speculative asset such as bitcoin to instantly take over and then they will lose control of the financial aspect of their nation for doing so.
For countries that doesnt have their own currency I guess they can use Btcoin. El salvador didnt have their own currency that is why they made BTC as legal tender. It will be hard for countries to abandon their established local currency because its part of their culture already.
New countries that could gain independence I guess could declare BTC as their currency easily.
I don't think all countries will use bitcoin as a currency, not because bitcoin is bad or anything, it's just that not all countries are ready for adopting it yet. There are so many countries that lack of internet services in some areas, and of course internet is so important if we want to use bitcoin as a currency. Although there are so many great advantages that bitcoin has, but I think it will be hard. I guess it might be great though, like we all have only one currency, so we shouldn't be confused, or stressed over rates, and other things if we only have one currency. However the implementation won't be that easy.
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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 guess with special agreement the world can use bitcoin as a currency. Bitcoin is a digital currency that came to eliminate poor financial transaction in the world.
It will bring more development to the world economy. It will reduce unemployment in the the world and it will make financial transaction more easy to all citizens in the world, if bitcoin accepted as a currency in the world.
Although we wanted to have Bitcoin use offline and can be a part of living, that was still far from going to happen due to slow adoption and local support. In fact, only a few establishments are accepting Bitcoin payment which is hard to adopt when we go offline. Maybe we could think this a decade from now but we are still not sure how this going to happen if the issue of its volatility hasn't changed.
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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 guess with special agreement the world can use bitcoin as a currency. Bitcoin is a digital currency that came to eliminate poor financial transaction in the world.
It will bring more development to the world economy. It will reduce unemployment in the the world and it will make financial transaction more easy to all citizens in the world, if bitcoin accepted as a currency in the world.
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-
They wouldn't, there's a certain pride that these countries have that won't make them consider bitcoin as a local currency, remember that the national currency of a country have some back story as to why they were chosen, some might even say that those banknotes are even their identity. So in conclusion, it's impossible to replace a nation's currency with bitcoin no matter how attractive it is and it's current price is.
National fanatics are certainly a good thing including loving their official money, I think the presence of bitcoin is not to replace official fiat but as a payment alternative that provides many advantages over fiat.
That's may be happen but maybe not in my country. In my country there is only one currency that allowed to be used by citizens, it is our national currency. I think this is one of the proof that all citizens should love the country, maybe I can call it nationality. Anyway, holding bitcoin is not prohibited in my country. Need good infrastructures to make it happen.
Most governments do not want ANY competition for their local reserve currencies, so they will do anything in their power to squash any competition for their power over local currencies. You have to remember this, governments have full control over the supply of reserve currencies and they have ZERO control over the supply of Bitcoin... so why will they ever want to relinquish that power to a new currency?
This is why you see government regulating Crypto currencies and also defining it as a Commodity. A Commodity are not in a position to compete with their reserve currency.
This is why you see government regulating Crypto currencies and also defining it as a Commodity. A Commodity are not in a position to compete with their reserve currency.
They wouldn't, there's a certain pride that these countries have that won't make them consider bitcoin as a local currency, remember that the national currency of a country have some back story as to why they were chosen, some might even say that those banknotes are even their identity. So in conclusion, it's impossible to replace a nation's currency with bitcoin no matter how attractive it is and it's current price is.
Local currency does have a history of its own why it was chosen to be used as a transaction tool in a country. So Bitcoin, which may be more attractive
and innovative, is unlikely to replace the local currency of a country. Local currency is indeed an identity for a country, and will be maintained to be
the most important means of financial transactions. Even some countries that have legalized Bitcoin, do not think of replacing their local currency
with Bitcoin. Bitcoin will only be an alternative to local currency for payments.
Some countries have accepted Bitcoin as a payment method and use Bitcoin. We can use Bitcoin to make purchases wherever Bitcoin is accepted. Although many countries support Bitcoin and accept Bitcoin as a payment method, this does not mean that it can replace their domestic legal tender. The final choice of the country depends on the national government.
Every country has a different view of cryptocurrency, and the scope of countries in the world is too large. Many countries have no choice but to adopt Bitcoin. Bitcoin is only used as a payment method. The right to choose is still in the hands of consumers. I think some countries may keep up with El Salvador, but as far as China is concerned, it will not choose to accept cryptocurrencies.
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