What if all nations of the world started to use bitcoin - page 5.

JENREM

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Quote from: JanpriX on March 31, 2017, 10:57:13 AM

Quote from: layoutph on March 31, 2017, 10:19:11 AM

What will happened if every country started to use bitcoin. Is the current supply of bitcoin and blockchain capacity can handle every bitcoin user?

Thanks in advance.

It will be very good for the BTC if every country will start using it. Its value will skyrocket because of the limited supply of it. What concerns me is the capacity of the blockchain to handle the transactions of every user. I thinks the current state of blockchain will not be able to handle it and will produce serious problems in the network. The technology for blockchain should improve and progress for it to handle huge amount of transactions.

@janprix, exactly! it will skyrockets but i thing it will cause too a huge volumes of traffic transactions due to a large volumes who uses bitcoin. this my also result to higher fees for miners. i also agree that blockchain needs to improve and innovate more its current technlogy in order to meet the the massive transactions.

regards.

batang_bitcoin

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Quote from: YuginKadoya on April 23, 2017, 06:53:43 AM

Quote from: batang_bitcoin on April 23, 2017, 06:11:00 AM

Quote from: jc89 on April 22, 2017, 06:53:19 PM

Quote from: batang_bitcoin on April 22, 2017, 05:29:07 PM

Quote from: radjie on April 21, 2017, 10:20:31 PM

If all countries use bitcoin, must be able to provide free internet to all countries. Because it will be used by everyone.

For some countries this is possible but here in my country this is all about business. Big companies will take the chance of earning with the internet connection of bitcoin. It is good for us that are into bitcoin while it is still good as early but for those people that will enter bitcoin lately, it will not be an easy thing for them.

As a matter of fact, some countries provide free internet already in public areas such as park, malls, etc. On the other hand, I would not agree that the internet will be fully free for all. Just think about the quality they will provide if that happens, I would think that the internet will be so slow because ISPs gives good quality of service if they are paid high enough.

That's a fact in other countries and places but here in my country, you won't see a place like that. There might be "wifi zone" but don't expect that you can connect to the network easily. There are people that instead of connecting to that wifi zone places they are ordering some coffee at Starbucks just for them to be able to have access in the internet. I don't expect that free internet will happen even all countries will use bitcoin.

It is a mere dream that certain countries would have it, and not all county has the same thing in common and the internet is a huge thing other countries does not progress in, sad to say is my country is just like what you have in your country even if there are more room to make a progress the government don't want it, well maybe some countries government really is preventing their people from using bitcoin and by doing this they can lessen the people using it.

Just like what I said internet is a big business in the entire world. Big companies are taking advantage about it and well it's hard to think that bitcoin will be known worldwide and all the nations will start to use bitcoin. But still we don't know what is going to happen about bitcoin, there is a chance and there is also the opposite.

Antoshka

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This will increase the price of coins, but you need to improve the system so that there are no failures due to a huge number of transactions.

Meowth05

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If all nation continue using bitcoin maybe it can be the main currency in the world one digital currency will exist in the word and the world would start adopting the changes that is happening.

YuginKadoya

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Quote from: batang_bitcoin on April 23, 2017, 06:11:00 AM

Quote from: jc89 on April 22, 2017, 06:53:19 PM

Quote from: batang_bitcoin on April 22, 2017, 05:29:07 PM

Quote from: radjie on April 21, 2017, 10:20:31 PM

If all countries use bitcoin, must be able to provide free internet to all countries. Because it will be used by everyone.

For some countries this is possible but here in my country this is all about business. Big companies will take the chance of earning with the internet connection of bitcoin. It is good for us that are into bitcoin while it is still good as early but for those people that will enter bitcoin lately, it will not be an easy thing for them.

As a matter of fact, some countries provide free internet already in public areas such as park, malls, etc. On the other hand, I would not agree that the internet will be fully free for all. Just think about the quality they will provide if that happens, I would think that the internet will be so slow because ISPs gives good quality of service if they are paid high enough.

That's a fact in other countries and places but here in my country, you won't see a place like that. There might be "wifi zone" but don't expect that you can connect to the network easily. There are people that instead of connecting to that wifi zone places they are ordering some coffee at Starbucks just for them to be able to have access in the internet. I don't expect that free internet will happen even all countries will use bitcoin.

It is a mere dream that certain countries would have it, and not all county has the same thing in common and the internet is a huge thing other countries does not progress in, sad to say is my country is just like what you have in your country even if there are more room to make a progress the government don't want it, well maybe some countries government really is preventing their people from using bitcoin and by doing this they can lessen the people using it.

batang_bitcoin

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Quote from: jc89 on April 22, 2017, 06:53:19 PM

Quote from: batang_bitcoin on April 22, 2017, 05:29:07 PM

Quote from: radjie on April 21, 2017, 10:20:31 PM

If all countries use bitcoin, must be able to provide free internet to all countries. Because it will be used by everyone.

For some countries this is possible but here in my country this is all about business. Big companies will take the chance of earning with the internet connection of bitcoin. It is good for us that are into bitcoin while it is still good as early but for those people that will enter bitcoin lately, it will not be an easy thing for them.

As a matter of fact, some countries provide free internet already in public areas such as park, malls, etc. On the other hand, I would not agree that the internet will be fully free for all. Just think about the quality they will provide if that happens, I would think that the internet will be so slow because ISPs gives good quality of service if they are paid high enough.

That's a fact in other countries and places but here in my country, you won't see a place like that. There might be "wifi zone" but don't expect that you can connect to the network easily. There are people that instead of connecting to that wifi zone places they are ordering some coffee at Starbucks just for them to be able to have access in the internet. I don't expect that free internet will happen even all countries will use bitcoin.

SoulBargain

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Quote from: jc89 on April 22, 2017, 06:53:19 PM

Quote from: batang_bitcoin on April 22, 2017, 05:29:07 PM

Quote from: radjie on April 21, 2017, 10:20:31 PM

If all countries use bitcoin, must be able to provide free internet to all countries. Because it will be used by everyone.

For some countries this is possible but here in my country this is all about business. Big companies will take the chance of earning with the internet connection of bitcoin. It is good for us that are into bitcoin while it is still good as early but for those people that will enter bitcoin lately, it will not be an easy thing for them.

As a matter of fact, some countries provide free internet already in public areas such as park, malls, etc. On the other hand, I would not agree that the internet will be fully free for all. Just think about the quality they will provide if that happens, I would think that the internet will be so slow because ISPs gives good quality of service if they are paid high enough.

Also you can't really expect much of those free internet that they provide. The influence of Bitcoin to all the nations needs to qualify to the major qualifications of an individual that is they know how to use gadgets or internet which is a problem in countries that are poor and applicable to those who are wealthy enough to have access with this and next is for them to understand the Bitcoin itself. The definite solution I can think of regarding the internet to access Bitcoin is to make it to be accessed in a free data like facebook but I don't know if it is possible or not or how will it be.

jc89

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Quote from: batang_bitcoin on April 22, 2017, 05:29:07 PM

Quote from: radjie on April 21, 2017, 10:20:31 PM

If all countries use bitcoin, must be able to provide free internet to all countries. Because it will be used by everyone.

For some countries this is possible but here in my country this is all about business. Big companies will take the chance of earning with the internet connection of bitcoin. It is good for us that are into bitcoin while it is still good as early but for those people that will enter bitcoin lately, it will not be an easy thing for them.

As a matter of fact, some countries provide free internet already in public areas such as park, malls, etc. On the other hand, I would not agree that the internet will be fully free for all. Just think about the quality they will provide if that happens, I would think that the internet will be so slow because ISPs gives good quality of service if they are paid high enough.

batang_bitcoin

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Quote from: radjie on April 21, 2017, 10:20:31 PM

If all countries use bitcoin, must be able to provide free internet to all countries. Because it will be used by everyone.

For some countries this is possible but here in my country this is all about business. Big companies will take the chance of earning with the internet connection of bitcoin. It is good for us that are into bitcoin while it is still good as early but for those people that will enter bitcoin lately, it will not be an easy thing for them.

johnnyyash

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It will be a very welcome idea...cause it will become known and widely accepted...

pinkpanther03

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Quote from: layoutph on March 31, 2017, 10:19:11 AM

What will happened if every country started to use bitcoin. Is the current supply of bitcoin and blockchain capacity can handle every bitcoin user?

Thanks in advance.

If that happen it will surely that each nation's their economy status will be in a progress status immediately, because all their citizens will going to use bitcoin to their daily lives and the price also increase as everybody expecting it to be happen. And the prediction will be fulfill too to become the the new world currency.

noictib

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Quote from: radjie on April 21, 2017, 10:20:31 PM

If all countries use bitcoin, must be able to provide free internet to all countries. Because it will be used by everyone.

I don't think that it will happen , If the whole world will use bitcoin then the whole world can't remain without internet , so the need of the better internet the owners of the internet provider will charge more money by us to give better service.
But here we should be think about that the problem of confirmation will increase if it will happen , Because as the bitcoin network is growing the fee is increasing , so we can make estimate that it may be possible that in the future we need to pay more than 1$ ( regraless of the input and output transaction , minimum will remain $1/transaction)

radjie

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If all countries use bitcoin, must be able to provide free internet to all countries. Because it will be used by everyone.

steampunkz

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It would be great if all the people in world uses bitcoin, It can cause fast transaction and any kind of matter, like in grocery shop, using bitcoins for paying plane, boat ticket, paying bills, paying food. Also safe because you can travel without putting any money in your pocket just like a credit card. People may also use bitcoins for paying advertising in T.V and radio. The more important thins is to it will also bring world peace. Because of all us nation is reunited as one because of using bitcoins.

macartem

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It all depends on what it is that they start to actually use Bitcoin for.

coinchaser007

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Then we would reach the scaling problem much sooner and there would have to be a solution in place for all the instant gratification buyers in the world (i.e. vast majority of consumers).

ASHLIUSZ

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Quote from: layoutph on March 31, 2017, 10:19:11 AM

What will happened if every country started to use bitcoin. Is the current supply of bitcoin and blockchain capacity can handle every bitcoin user?

Thanks in advance.

If all nations start to use bitcoin,then definitely,its price would go much high.We would have to pay tax for our bitcoin earnings.Since Bitcoin price is only limited,there would be a great demand for bitcoins.At that time,we need not go for exchanges or localbitcoins to sell bitcoins.We could easily find persons in market to sell our bitcoins.

As said the price of bitcoin would peak much higher than what's been predicted. Recent days it's been predicted that the price might go higher as much as $50k per bitcoin. So the limitations in mining of specific number of coins will not fulfill the entire requirement for which only way is to increase the value.

NEWGOODOUBLE

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Quote from: sevendust777 on April 20, 2017, 08:56:27 AM

This would takes years this thing to happen. Because we all know that government is having rules and regulations to make bitcoin as the world currency. I think there will be difficulty to make this happen.

I think even though the next few decades the government will never accept and legalize bitcoin. And it is impossible for all countries to unite to have only one currency

RealPhotoshoper

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Quote from: webtricks on April 20, 2017, 09:13:07 AM

I don't think there will be any impact on supply since it is limited and maximum what could happen is increase in price of per fraction units. However, due to increased transactions it is possible that fees will hike due to increase competition in fees paying and fees will become the matter of superiority and faster confirmation.

So you think the current low fees per transaction is because there's few people only use bitcoin and do transact?
I think the low fees should be keep that way , higher fee will make bitcoin no difference with other online payment processor.
That's what makes bitcoin special , i believe when a lot of people use bitcoin there will be a new way to handle it.

naidray

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Quote from: staff_1307 on April 20, 2017, 09:08:50 AM

If all countries started to use Bitcoin, then it would be much easier to use money transfers. I think this is a good idea.

First and far most, bitcoin is already being used by many people all around the world and us talking about it on this topic is a proof that it is international, and second even if bitcoin was approved by law to become a legal not everyone will use people chose to weather acknowledge it or reject it and even though it may increase the value and the number of people using it, but it will be like gold a thing not everyone will choose to invest in, or have access to.

Topic: What if all nations of the world started to use bitcoin - page 5. (Read 10123 times)