Topic: What country do you think will recognize Bitcoin as an official currency? (Read 2088 times)
January 04, 2018, 06:20:34 AM
Many countries today has already recognized the bitcoin as a currency, but many also have not yet. But as i heared Japan recognized it and I am so excited to have a tour in that country using my bitcoins.
January 04, 2018, 06:20:33 AM
I think for bitcoin to be a real currency, government have to accept it first.
So I ask what country do you think will recognize it as a currency?
So I ask what country do you think will recognize it as a currency?
Bitcoin is indeed a real currency. There are countries who are moving in positive direction of recognizing bitcoin as currency. For that matter Japan has already recognized bitcoin as currency. [1]
Russia is also trying to get hold of bitcoin. One big problem with the bitcoin as currency acceptance is bitcoins nature of decentralized. This lack of control is something bothering govts to act against bitcoin or trade water safely.
[1] http://www.newsbtc.com/2017/04/02/japan-officially-recognises-bitcoin-currency-starting-april-2017/
Well, it is, to my mind, already an official currency. However, I think that at the moment, most countries already have their own currencies that has been named following a long process hinged on history, laws, and other means of choosing one country's currency. Due to that, it would be difficult to shift to another currency when most already have their own. I think, it would be more probable for bitcoin to be accepted as a legal currency that can be used to pay for services and goods or used to as an investment medium, because at the moment, only a few countries have sanctioned bitcoin to be used in that way.
January 04, 2018, 06:17:37 AM
for the moment that I know is a japanese state that has legalized bitcoin.
January 04, 2018, 06:07:49 AM
I think countries such as Switzerland and Estonia will be the few countries which will initially accept Bitcoin as an official currency. I think Japan already accepts Bitcoin all over the country.
January 04, 2018, 03:48:08 AM
No country will 
. All the countries will trust their own currency rather then depending on a currency whose price fluctuates a lot and even takes alot of time to confirm sometimes . So why to use such a currency when every country has its own well established currency
Exactly. No country will recognize bitcoin as their "official currency". Although it is recognized as a legitimate payment method but to be an official currency is impossible. For all we know bitcoin price is fluctuating everytime. Therefore, no country especially their government wont allow this to happen. And maybe, even those big and small business establishment wont let this to happen. . All the countries will trust their own currency rather then depending on a currency whose price fluctuates a lot and even takes alot of time to confirm sometimes . So why to use such a currency when every country has its own well established currency January 04, 2018, 03:16:00 AM
I guess, coutries with highly-advanced technological status are more likely to approve bitcoin as their official currency. Nonetheless, they will still use their current currency.
January 04, 2018, 03:10:50 AM
I think for bitcoin to be a real currency, government have to accept it first.
So I ask what country do you think will recognize it as a currency?
So I ask what country do you think will recognize it as a currency?
if I do not have any country that makes bitcoin as official currency but if its acknowledged it is now very much one of them Israel, they even plan to make a special bank for bitcoin .
January 02, 2018, 05:26:07 PM
In my country he did not recognized bitcoin as an official currency now I don't know if he can accept a official currency someday in my country its not legalized but I have country already accept bitcoin maybe someday in my country he can accept bitcoin
December 12, 2017, 01:27:37 PM
I think the 1st countries that will approve bitcoin are those deeply affected with inflation , and by accepting bitcoin they will be able to get a currency that is much more powerful and valuable than theirs . And when using it they'll have huge profits and maybe do good by their economic system and improve the spending scale of it's citizens , so 3rd world countries are the ones concerned the more with such decisions .
December 12, 2017, 01:20:36 PM
What is your definition of currency? Japan already accepts Bitcoins as a legal form of payment, though that may not fit your definition completely. No country has really come close to that as far as I know.
I dont have any idea for now because im newbie here. December 12, 2017, 12:23:21 PM
Bitcoin is indeed a real currency but at now there is no country which will be accept Bitcoin for their national or official currency.
December 12, 2017, 12:18:09 PM
I think for bitcoin to be a real currency, government have to accept it first.
So I ask what country do you think will recognize it as a currency?
So I ask what country do you think will recognize it as a currency?
From my point of view, no country will accept BTC as a formal currency at present or next time. The reason is that the government fears cryptocurrency and especially Bitcoin will affect the development of the national economy. If a country does not accept the BTC as its official currency, the country has inadvertently made its currency insignificant compared to the BTC because it is now at a very high exchange rate, even higher than gold. So I think no country will accept the BTC at this time as the official currency.
December 12, 2017, 11:30:36 AM
Certainly , it's Japan.
Japan and Australia already recognized bitcoin as far as I know.
As for China, they are moving on the opposite direction so they are out as far as making bitcoin as a official currency. Although they still have the majority of bitcoin mining farms, so we can't take that away from them. But if the PBoC decided to crack it down then it's gonna be a different picture then. They are a major player on bitcoin mining, taking them out will be a huge impact on us.
December 10, 2017, 07:01:43 PM
Certainly , it's Japan.
December 10, 2017, 06:48:53 PM
China is totally out of bitcoin right now since from the day that they are banning cryptocurrency in their country.
China is still a mayor player when it comes to their mining farms. On top of that, there are still exchanges operating there, but just not in combination with actual fiat. If they were totally out of Bitcoin as you say, the aforementioned aspects wouldn't be possible to be maintained. It might be that China will eventually ban every aspect related to crypto in its entirety, but I think the chances for this to happen are fairly low. I strongly believe that it's nothing more than an attempt to buy themselves more time in order to come up with severe regulations. China is insanely paranoid when it comes to a wide field of things, and if they wanted to get rid of Bitcoin, a complete ban would have already been initiated.
December 10, 2017, 06:28:58 PM
I think for bitcoin to be a real currency, government have to accept it first.
So I ask what country do you think will recognize it as a currency?
So I ask what country do you think will recognize it as a currency?
Bitcoin is indeed a real currency. There are countries who are moving in positive direction of recognizing bitcoin as currency. For that matter Japan has already recognized bitcoin as currency. [1]
Russia is also trying to get hold of bitcoin. One big problem with the bitcoin as currency acceptance is bitcoins nature of decentralized. This lack of control is something bothering govts to act against bitcoin or trade water safely.
[1] http://www.newsbtc.com/2017/04/02/japan-officially-recognises-bitcoin-currency-starting-april-2017/
Yeah i think it is a currency already. So far in my country we cannot use it as a payment to any hotels or restaurant. I am looking forward to that. In Japan for sure it is recognize by japanese, i guess it all started there. I dint know about in Russia, but why not maybe they are starting to embrace bitcoin. Bitcoin is all over the country. Different races are using bitcoin and they got privilege to earn in different ways. So far in my country we dont have problem with bitcoin. I havent heard that our government is violently reacting with it.
December 10, 2017, 06:11:19 PM
No country will . All the countries will trust their own currency rather then depending on a currency whose price fluctuates a lot and even takes alot of time to confirm sometimes . So why to use such a currency when every country has its own well established currency
Maybe China,will be the first to legalized bitcoin one of their currency. And I hope all over the world. So everyone can use it, and spend using bitcoin. But it depends in the country if they allowed to their people to used bitcoin. If they see the progress of their community using bitcoin maybe the government will pursue to used bitcoin. . All the countries will trust their own currency rather then depending on a currency whose price fluctuates a lot and even takes alot of time to confirm sometimes . So why to use such a currency when every country has its own well established currencyAs far as I know, no country have making any digital currency as official currency. Though some countries are legalizing this bitcoin but they don't consider it as an official currency. This is due to the adoption of bitcoin and its used are not totally acceptable worldwide.
December 10, 2017, 05:31:00 PM
No country will . All the countries will trust their own currency rather then depending on a currency whose price fluctuates a lot and even takes alot of time to confirm sometimes . So why to use such a currency when every country has its own well established currency
Maybe China,will be the first to legalized bitcoin one of their currency. And I hope all over the world. So everyone can use it, and spend using bitcoin. But it depends in the country if they allowed to their people to used bitcoin. If they see the progress of their community using bitcoin maybe the government will pursue to used bitcoin. . All the countries will trust their own currency rather then depending on a currency whose price fluctuates a lot and even takes alot of time to confirm sometimes . So why to use such a currency when every country has its own well established currency December 09, 2017, 02:34:08 AM
I think for bitcoin to be a real currency, government have to accept it first.
So I ask what country do you think will recognize it as a currency?
So I ask what country do you think will recognize it as a currency?
yes you are right, before bitcoin enters in a country and in for the payment instrument bitcoin must first be legalized by government and local bank that exist, they should be able to work together so bitcoin can circulate in that country.
December 09, 2017, 01:46:46 AM
I think for bitcoin to be a real currency, government have to accept it first.
So I ask what country do you think will recognize it as a currency?
So I ask what country do you think will recognize it as a currency?
The first country that comes on my mind is Japan. Bitcoin is already established in this country and they are already implementing acceptance of bitcoin in purchases in the retailer stores.
just so you know guys, our country (ph) are also planning to accept and legalize bitcoin as a secondary payment method next to our local currency which is peso (php) because our governments and banks see that many filipinos are verry much active to this bitcoin and cryptocurrency. it is a good news for us because we can now soon use our bitcoins easily straight to our bitcoin wallets to buy stuffs offline like for example in the malls , restaurants , cofee shop and other major establishments. this will also a good help for bitcoin to expose more on public and to become a verry popular digital currency worldwide. though there were still butthurts that keeps on discrediting bitcoin and making a false hoax news that says bitcoin is a scam blah blah blah.
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