What country do you think will recognize Bitcoin as an official currency? - page 4.

evilgreed

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Quote from: btc_angela on October 02, 2017, 12:27:16 PM

Quote from: lordquanta on October 02, 2017, 11:45:28 AM

Quote from: dvyanc on October 02, 2017, 05:07:28 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?

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/

I doubt that Russia will adopt bitcoin. For me they are anti crypto-currency. And all the things that they have said for bitcoin and crypto is always changing. So I bet that they are really against any crypto for now.
Its legal tender in Japan. But its not their official currency. It is still Yen. And for that matter, I doubt that any country would make bitcoin their official currency. Its decentralized, volatile. The government or Central Banks of any country don't want any of that nature because its can really affect them financially. They want something that is stable and can be control.

I think you were right, and since Japan is also accepting bitcoin, it was just an alternate currency, next by Yen their official currency. Even so, replacing ones currency is totally hard, and i certainly like the fact that Japan was doing the first move and setting an example for the rest of the countries.

osmo

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I think no country will apply bitcoin as currency, the government will not want to apply bitcoin because bitcoin can not be controlled circulation while while money can be controlled

MAJICOIN

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in my opinion bitcoin will be acceptable as official in a country when government give the permission to accept this currency as method of receipt and payment. there are several reasons involved in this currency through which it can't be easily acceptable or we can say official of one country.

ALT67890

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Quote from: dvyanc on October 02, 2017, 05:07:28 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?

Japan would be my idea of this kind of thing, as they were more open for technology upgrades and innovations. But let see if theirs more country who have the same economic strategy that will recognized bitcoin and be part of it. As of now the only thing we can do is wait for bitcoin awareness be matured.

Hotel_Prodeo

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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.

Pab

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Vietnam,Vietnamise are using bitcoin a lot for transfering funds.Thay dont trust banks,it is easy there
becouse bitcoin atm's are around any corner.Many of them are living and working outside of Vietnam,so thay save on fees.I can also add that there is strong vietnamise mafia,i suppose thay also like bitcoin for transfering funds.For money laundering thay prefer banks

bestluck

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Quote from: hachiman13 on October 08, 2017, 12:25:03 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.

Whoever will accept it as national currency will progress more as compare to rest of world, whether Japan or Singapore both have hold on the bitcoin market and they are developed countries and if any of them do so there will be everyone wanting to go there in these countries and earn as much as he can and I am sure bitcoin will not let that country down which will make it national coin.

hachiman13

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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.

jorneyflair

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Quote from: Hexah on October 07, 2017, 09:54:59 PM

Bitcoin is a real currency, the only hindrance for that if government of a particular country accepted Bitcoin as a currency that they can accept as mode of payment by their citizen. There are many countries that really accept Bitcoin and recognized by their government and some of them are Japan, South Korea, many countries in Europe and Canada, USA and some parts of Latin America. Some countries have free access to Bitcoin but some of them also are not recognized as a currency they can call, I wish it will be recognized worldwide.

Exactly this. Bitcoin does not need to be accepted by a government to be considered a "legitimate currency" or anything of that sort. If countries do start adopting bitcoin as a legal currency or even their official currency, then great. If not, it's not really a worry since bitcoin is global and decentralized anyway.

If we're talking about the first country to do this then i'd say definitely Japan or Korea.

Lots of new ideas in these two asian countries, and a lot of bitcoin trading done their already. Especially Japan.

palensya

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Quote from: dvyanc on October 02, 2017, 05:07:28 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?

For me its Japan because when it comes to crypto currency Japan is very vocal in using it in their country and in fact it would be used by lots of retailers based in japan in accepting payment trabsactions. So i think Japan will be the first country will recognize bitcoin as an official currency.

malika

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Quote from: dvyanc on October 02, 2017, 05:07:28 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 guess that would be Japan because they are in the next steps of letting the retailers in the country to accept bitcoin as payment in transaction and being a high technology country it is very possible to implement the adoption of bitcoin to all its residents.

Hexah

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Bitcoin is a real currency, the only hindrance for that if government of a particular country accepted Bitcoin as a currency that they can accept as mode of payment by their citizen. There are many countries that really accept Bitcoin and recognized by their government and some of them are Japan, South Korea, many countries in Europe and Canada, USA and some parts of Latin America. Some countries have free access to Bitcoin but some of them also are not recognized as a currency they can call, I wish it will be recognized worldwide.

Nerman

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Although some countries already recognized Bitcoin as a currency i do not think a country or a government will recognize Bitcoin as their official currency. They will not eat their pride and most likely if they will move to digital currency they will create their own. Right now I know that some countries
are studying crypto currency and maybe in the near future a first coin will be released by a government.

MiF

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Quote from: ReLieD on October 02, 2017, 12:27:39 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

I believed it will be Japan because they have all the reasons to do so like they are proudly creator of Bitcoin because Mr. Satoshi is a Japanese then their economy is much progressing than before after bitcoin was accepted in the market. I think their government is already starting the process to make it possible to replace their Yen currency.

Hazaki

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Quote from: dvyanc on October 02, 2017, 05:07:28 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 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 .

wahb

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Quote from: Hasbro27 on October 07, 2017, 11:51:33 AM

I do not think there will be a country that applies bitcoin as its currency, because the negra already has its own currency, maybe bitcoin as an alternative payment and investment

I think japan will take this owner to make bitcoin as its official currency because the japan economy is fully independent that’s why they free to take decisions. As japan have the world largest export and the world best technology of consumable items like TV. Laptop, computer motor car so if the announce this as their official currency and offer the world trade with them in bitcoin then there will be no power to stop bitcoin from becoming the global currency.

iyan33

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Quote from: Pleione527 on October 07, 2017, 06:39:42 PM

I agree Japan may recognize bitcoin as its official currency seeing how it support bitcoin it seems that this country is prepared in this kind of era and that the government like the idea of cryto currency. I will not be surprise is the biggest ownership of bitcoin will come from this country.

japan has long recognized and declared the legality of bitcoin as the official digital currency in their country, and I think they should experience more advanced bitcoin growth when compared to some other countries that have bitcoin legalization.

Pleione527

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I agree Japan may recognize bitcoin as its official currency seeing how it support bitcoin it seems that this country is prepared in this kind of era and that the government like the idea of cryto currency. I will not be surprise is the biggest ownership of bitcoin will come from this country.

Aikidoka

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Quote from: Opquar on October 02, 2017, 11:54:32 AM

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.

There is a difference between a currency and a digital one. As a matter of fact, bitcoin is a digital currency. It is an intangible one. I think that is what he meant on his post. He wanted to know if bitcoin is tangible like any other currency in some countries. Added to that, Japan might have recognized bitcoin, but it is not its official currency, it is just, as you said, a form of payment. I do not think it interferes with other stuff.

Bellator

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Quote from: dvyanc on October 02, 2017, 05:07:28 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?

Yes i strongly agree that in order to be recognise the government should accept it first, a lot of country has already uses and practicing crypto currencies like bitcoin.The united states has the highest bitcoin users/traders because they have the silicon valley which is the home of cryptocurrency, they have the highest in terms of bitcoin ATM and the pioneer of digital currency. i believe that time comes as the world is now at a digital age the US will recognise bitcoin as their currency.

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