Topic: What country do you think will recognize Bitcoin as an official currency? - page 2. (Read 2097 times)
December 09, 2017, 01:22:22 AM
Bitcoin is already getting recognize by the most developed countries because they are being attracted to the huge pump of the price of bitcoin that makes them think that bitcoin is a great choice of currency or an investment to be appropriate. Bitcoin can become an official currency if they will see that bitcoin is a really great opportunity and also less conflicts than other types of currencies.
December 08, 2017, 10:23:39 PM
It's already done in mine, but this has a double effect of allowing the state to tax us on the bitcoin
December 08, 2017, 10:17:53 PM
That is a massive turn of events in one country if they will truly use bitcoin as their main currency. It will be like deleting their history from the paper money that they have been used to.
I always think of it as a payment option but not the main one. But if this will happen then it can only be Japan who can answer to this kind of change. The technology that they have could deal with bitcoin ATM's and other stuff that will deal with bitcoin.
When that happens? There will be a great change in the history of currency. People will adapt based on what government implement and I assure that is a tremendous problem in our country. People in my country knows that currency is physical and real. They think that digital currency is a scam. But for me, it is an ideal thing because part of globalization is to come up with the trends in our economy. We should innovates our system of currency and cryptocurrency has good effect in our economy. I always think of it as a payment option but not the main one. But if this will happen then it can only be Japan who can answer to this kind of change. The technology that they have could deal with bitcoin ATM's and other stuff that will deal with bitcoin.
December 08, 2017, 10:08:21 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.
You have the point. Countries may build their own digital currency like Tether for USD but not Bitcoin as their primary currency since it did not originated from them. Different states have their own history and won't just make BTC as their own, they could use it as a tool but not literary their own currency. Blockchain is one hell of a technology and it can further advance. More countries are studying it and maybe in the near future making a digital currency of their own.
December 08, 2017, 09:48:35 PM
No one knows and this is impossible to happen, there will be no country that is interested of replacing their very own local currency in exchange for a decentralized cryptocurrency
December 08, 2017, 09:43:11 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?
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.
This is true.
Because, in my opinion Singapore and Japan also have many forms of life in common.
In essence, Japan must indeed be a paradise for bitcoin.
All this is seen from the name of its creator "Satoshi Nakamoto".
Satoshi Nakamoto the name is identical with the country of Japan.
October 19, 2017, 03:31:09 AM
no. bitcoin will not be a countries official currency, but a country can recognize bitcoin just like any other fiat currency.
October 19, 2017, 02:24:48 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.
October 17, 2017, 02:16:34 PM
I think Japan, the inventor of bitcoin satoshi nakamoto comes from japan, and of course japanese government more respect so that can make bitcoin as an official currency.
Because the name sounds Japanese ? LOL … No one knows the identity of Satoshi Nakomoto and he has decided to remain anonymous apparently forever. So it could be anybody and where you got your information from that he is from Japan is what I do not know.
You think if there is someone really bearing such name, his identity wont have been gotten since? Don't be surprised if Satoshi is a group of people or he is even from Antarctica.
October 16, 2017, 02:35:37 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?
I do not know yet the country that completely legalized bitcoin. There are countries that have adopted it and vice versa prohibit it. The closest thing to this I think is Japan, progress there is already very fast and in the next 5 years I think everything will happen.So I ask what country do you think will recognize it as a currency?
Legalization is giving the permission for usage by law which gives every citizen the confidence to make use of it. Most countries do not have a specific decision yet on bitcoin but that does not make it illegal as people can still make use of it. However, once declared illegal, that makes it against the law and usage by anyone will be dealt with, but a country declaring their adoption apparently makes it legal.
October 13, 2017, 06:34:11 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.
October 13, 2017, 05:58:28 AM
i think soon half of the the countries in the world will accept bitcoin as a virtual currency. because in asia some of the prominent or powerful countries accept bitcoin already like japan, south korea, australia, india. these are some of the countries that adapt bitcoin already. soon all the 3rd world country will adapt it also all the powerful countries in terms of financial industry 
October 13, 2017, 04:55:21 AM
I think plenty of countries had already accepted bitcoin lets say legal currency as what others imposed. They actually could use it not just in exchange but in other transactions that usually use fiat as payment. Japan for example. I am not sure if Sweden and Korea tend to do use bitcoin as legal currency as of the moment though.
not many countries now recognize bitcoin as an official currency and i think its still too far to hope this because bitcoin need to solve the main problem first then maybe government will accepting bitcoin as payment. but if you say japan, i think it could be the first as we know that japan approve bitcoin and the government is allowing people for using bitcoin. i think in japan there is local store that already accepting bitcoin as payment but it doesn't mean that japan will be the first country that will make bitcoin as currency.
October 13, 2017, 02:47:18 AM
The first country that came to mind is japan then Singapore. As for Singapore, ICO investors have been eying it as a possible 'replacement' for china when they have banned ICOs there last few months. If they become open enough in crypto, there's a high chance that they would recognize bitcoin as an official currency.
They are already recognizing bitcoin as a currency and trust me that is how it will stay. Official currency is a very long thing to what any developed country may want to do right now. I don’t know about third world countries or the rest, but every government will want something they can control and in this sense, bitcoin obviously isn't.This will only make most countries legalize it and make use of it as a secondary currency alongside the fiat usage as primary currency. Moreover, to make a currency official, a whole lot must be considered.
October 12, 2017, 12:42:06 PM
United states or United Kingdom. These two have a big following as well as events each month about bitcoin.
October 12, 2017, 12:40:12 PM
I think first world countries will for sure be one of the pioneers when it comes to recognizing Bitcoin as an official currency. Estonia, Finland, Denmark, Sweden, Australia and South Korea are some of the few countries that are considered to be "Bitcoin-friendly". These countries are known for embracing anything that promotes innovative techniques for advancement and soon enough there will come a day that these countries will have Bitcoin as one of their currencies.
October 12, 2017, 09:05:55 AM
i see the latest news, japan has licensed the bitcoin. when the Chinese government banned bitcoin activity, after a while later, japan officially licensed the bitcoin.
October 12, 2017, 08:36:12 AM
We should be happy the government will recongnize it as a currency at all.. not to speak of "official" though. BTC can never be official by definition, because it's decentralized and can't therefore be attributed to a specific thing to be considered "official". Why would governments do this anyway? They have their own interests by issuing fiat and regulating the flow of money (which makes sense) and they need that mechanism to "set" the economy on the right track.
I think Japan is the one who recognize bitcoin as the second official currency in his country but still JPY is national currency by the government. Thus the government in Japan supported all basis of payment as an option to a better faster transaction.
October 12, 2017, 08:11:00 AM
We should be happy the government will recongnize it as a currency at all.. not to speak of "official" though. BTC can never be official by definition, because it's decentralized and can't therefore be attributed to a specific thing to be considered "official". Why would governments do this anyway? They have their own interests by issuing fiat and regulating the flow of money (which makes sense) and they need that mechanism to "set" the economy on the right track.
October 12, 2017, 07:20:37 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?
we cannot determine right now which country will recognize and use it as a real currency, there should be a country that will fully accept it like a legal tender . as of now it's really far from reality that there would be a nation that will use as currency which apparently like a traditional money due to its usual problems.
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