For me it would be a good economy because it has great value and bitcoin is more convenient to use. How about you what do you think? Share your thougths.
It would be a utopia economy, if you understand what I mean. Such a scenario can never exist because that would mean everyone would learn how to use the internet. This is highly impossible. There are old dudes or even young people who aren't Internet compliant. Also, there are some underdeveloped countries where electricity is a huge problem. Bitcoin can only remain a currency for a selected few. After all, its supply isn't even much. Just a mere 21million is really too small for the entire world if it were to be used as the only global currency.
Topic: What kind of economy will it be if bitcoin is a currency? (Read 632 times)
Well I think it is a good economy because based on my observation many people have been change their live from rags to riches because of bitcoin and if you come to think of it if all of us is accessible on it will become a great world because no one will ever suffer the poverty because they have now money that comes from bitcoin that are very useful on their daily lives. Bitcoin is great in a economy because many change their lives because of bitcoin.
I think bitcoin can not be used as a world currency because the price is very fluctuating, and I'm sure there will be a lot of positive effects for users because only with internet connection they can do transaction by itself.
It will be nice.
There is always an advantages and disadvantages.
Advantages for the people who live in the Cities, well developed places. It will be easy and convenient for them.
Disadvantages for the people who live in simple place. It will be hard and more effort to do.
All will be fine in the long run if everybody agrees.
There is always an advantages and disadvantages.
Advantages for the people who live in the Cities, well developed places. It will be easy and convenient for them.
Disadvantages for the people who live in simple place. It will be hard and more effort to do.
All will be fine in the long run if everybody agrees.
A world where bitcoin was the main currency will be altogether different right now there isn't a culture of sparing your wage, with a cash with bitcoin that develops all the more rare individuals will keep their bitcoin so we will see a world where there is less consumerism and things are made to last a similar way things were previously and as I would see it that will be beneficial for us and the planet
What do you mean. First of all Bitcoin can never become a currency . I'm talking totally about paper currency. Something whose price is not fixed or fluctuates alot cannot become a currency. Moreover the founder himself in unknown and so that might prevent it from being a currency
Bitcoin is a virtual currency which can be used anyone from any part of the world without a third party involvement for sending and receiving bitcoins, as you have said the price of bitcoins keeps on fluctuating as there is demand for the bitcoin and blockchain technology and more user's are entering the bitcoin network which makes the prices to go even higher, these bitcoins are backed by fiat currencies and I don't think that there is no need for the founder to come to the light for the bitcoin technology to be considered as a currency, it all depends on the government or the central banking system to consider this technology for the overall development of the country this bitcoin technology should be implemented all over the world.
Bitcoin is already a currency then why you asking like that?
Bitcoin is a virtual currency so there is no physical structure for it but still we can use it if bitcoin was accepted as a payment but noe bitcoin is still in early stage soon bitcoin will be accepted as a payment everywhere.But we can use bitcoin everywhere because the value might be very high in the future so we can use it for paying $1 or $2 if you do then transaction fee was more than your purchase.So that's where other crypto currency where come into play.
Bitcoin is a virtual currency so there is no physical structure for it but still we can use it if bitcoin was accepted as a payment but noe bitcoin is still in early stage soon bitcoin will be accepted as a payment everywhere.But we can use bitcoin everywhere because the value might be very high in the future so we can use it for paying $1 or $2 if you do then transaction fee was more than your purchase.So that's where other crypto currency where come into play.
For me it would be a good economy because it has great value and bitcoin is more convenient to use. How about you what do you think? Share your thougths.
We will have a slower economy when bitcoin will be a currency of a country or worldwide.bitcoin is a good investment but not a good currency now as bitcoin still have many weaknesses. the FEE of transfer is at high cost, the transaction per seconds is very minimal and can only accommodate just 4 every bit. 
Bitcoin can't sustain an economy because of it's high volatility. A highly volatile currency is not apt for running businesses or attracting foreign investments. Bitcoin has inbuilt deflation and hence due to limited supply, it hardly gonna get rid of volatility. Moreover, some few are controlling the maximum supply. This is again bad for global economy and governments and banks can't let those few dictate the market. Thus, a Bitcoin as an only global currency is not viable or far from possible.
It will be hard because bitcoin can compete with fiat. And it can be very hard to people, who don't use crypto
For me it would be a good economy because it has great value and bitcoin is more convenient to use. How about you what do you think? Share your thougths.
Yup,, hoping the same. But if this happen it will cost our decentralized and unregulated bitcoin to a government controlled and a highly centralized cryptocurrency.. Are we ready for it,, me or all of us for sure will not find it interesting.. I don’t look bitcoin as an asset alone,, I also look at it as a currency because I’m using it directly to buy anything I want but it can’t handle our full society because it is limited and that’s the problem..
Maybe it will be possible if the price of bitcoin is already stable. No one would want to spend their money with unstable value. Bitcoin is good for investment. It is profitable. But I dont see it as currency but maybe in the future.
i've read post above and i think i have my own opinion here
imagine if we are not use USD as global currency as exchange anymore but we use cryptocurrency as global currency
USD can go home back to the USA
every nation have their own fiat money but when it come to international trade, they must use cryptocurrency
i don't tell must BTC here, maybe BTC or BCH, or something new that every nation can accept that crypto
CMIIW
imagine if we are not use USD as global currency as exchange anymore but we use cryptocurrency as global currency
USD can go home back to the USA
every nation have their own fiat money but when it come to international trade, they must use cryptocurrency
i don't tell must BTC here, maybe BTC or BCH, or something new that every nation can accept that crypto
CMIIW
maybe I agree with this. we have our own currency for every country. but like what AidenCasanova said, if we want to go to another country then we can use cryptocurrency and if we want to spend the coins, we need to exchange to local currency. I think in the future, if cryptocurrency is approved, then there will be the adjustment from cryptocurrency that will be stable as a currency from cryptocurrency to local currency. maybe we need a coin that will be a bridge between cryptocurrency and local currency so we don't have any problem to exchange.
For me it would be a good economy because it has great value and bitcoin is more convenient to use. How about you what do you think? Share your thougths.
the economy will become very easy and retailers will benefit if applying payments using bitcoin, better security because bitcoin is a very transparent currency.
For me it would be a good economy because it has great value and bitcoin is more convenient to use. How about you what do you think? Share your thougths.
Crypto economy 
and bitcoin is already used as currency, that's how it all started the whole cryptocurrency. We are already an economy of crypto, worldwide bitcoin economy and that's how others are calling it. That will be a dream come true for every bitcoin holders out there to be in this type of economy and making it to a reality like for a city that's totally supporting bitcoin and we are going there to exchange goods or just meeting up and we'll become a bitcoin society. 
Bitcoin may be called a cryptocurrency but it will not become the official currency use by people because if that time comes then fiat would be eliminated then. An economy run by cryptocurrency is just not right for me because the holders of a big chunk of cryptoccurrency can then rule the economy and it would be the same as what is happening now wherein the rich people have the advantages always. There would be nothing new then. The rich gets richer and the poor gets poorer.
Due to high transaction fee and problem with scaling, it would be hard for people to have transaction immediately because confirmation takes sometime but then sooner or later this problem with bitcoin would be solved. That is why there is a BIP (Bitcoin Improvement Proposal).
Due to high transaction fee and problem with scaling, it would be hard for people to have transaction immediately because confirmation takes sometime but then sooner or later this problem with bitcoin would be solved. That is why there is a BIP (Bitcoin Improvement Proposal).
maybe what you mean bitcoin as a global currency.. so hard to happen because some countries banned bitcoin and some more countries not accept yet bitcoin for some reason.. I think bitcoin are legalized in the some countries it's enough to make bitcoin more popular..
i've read post above and i think i have my own opinion here
imagine if we are not use USD as global currency as exchange anymore but we use cryptocurrency as global currency
USD can go home back to the USA
every nation have their own fiat money but when it come to international trade, they must use cryptocurrency
i don't tell must BTC here, maybe BTC or BCH, or something new that every nation can accept that crypto
CMIIW
imagine if we are not use USD as global currency as exchange anymore but we use cryptocurrency as global currency
USD can go home back to the USA
every nation have their own fiat money but when it come to international trade, they must use cryptocurrency
i don't tell must BTC here, maybe BTC or BCH, or something new that every nation can accept that crypto
CMIIW
For me it would be a good economy because it has great value and bitcoin is more convenient to use. How about you what do you think? Share your thougths.
The decentralized economy which also mean that no one control people's money in bank like happen today. Probably economic crisis will less happen because no country will able to manipulate bitcoin price like they manipulate their fiat money today.
It would be an economy where top 1% of the wealthy people would consist mostly of the bitcoin miners and some whales. in order to use bitcoin as a everyday currency, volatility would have to be significantly lower, fees would have to go way down and number of transactions per second would have to go from 10 to million. So not yet.
With the current situation in mind, an economy with Bitcoin as wouldn't be feasible for various reasons. The transaction fee being high and lots of unconfirmed transactions on the network indicates signs of slowing down. Carrying out micropayments would become tedious with the amount of fees being paid. If the core made enough adjustments to make everything smooth and feasible, it would be the first step into a crypto economy.
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