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
The fact that we do not know who is satoshi nakamoto is not a factor that is going to be important in order to determine whether people are going to adopt bitcoin or not, there are many things for which we do not know their creators and that does not stop people from using those inventions in their everyday lives, just look at the wheel no one knows who invented the wheel and yet if you drive a car you are using that invention almost everyday. 
Topic: What kind of economy will it be if bitcoin is a currency? - page 2. (Read 632 times)
Imagine that fiat, gold, credit cards and electronic transactions represent Intel, the corporation known for making CPU's and microprocessors.
Bitcoin would be similar to AMD. There is an intel vs amd abstract shaping up, where free markets and their advantages over government sanctioned monopolies may be invoked. Competition between the two paradigms(bitcoin versus fiat) should drive industry innovation as well as price reduction for consumers, businesses and even governments.
What will be bad is if either bitcoin or fiat is banned. The result would give the remainder something similar to a monopoly and we all known that monopolies drive industry wide stagnation, excessive prices for consumers and other negative circumstances invoked by a centralization(fiat) versus decentralization(crypto) paradigm.
Bitcoin would be similar to AMD. There is an intel vs amd abstract shaping up, where free markets and their advantages over government sanctioned monopolies may be invoked. Competition between the two paradigms(bitcoin versus fiat) should drive industry innovation as well as price reduction for consumers, businesses and even governments.
What will be bad is if either bitcoin or fiat is banned. The result would give the remainder something similar to a monopoly and we all known that monopolies drive industry wide stagnation, excessive prices for consumers and other negative circumstances invoked by a centralization(fiat) versus decentralization(crypto) paradigm.
If bitcoin is use as number one currency we should expect a reset of our world economic and for a change in the way we approached money. The world is waiting for a digital world and we should expect many changes in the nearby future. If the world embrace digital world then world's power is going to shift from old leaders to a younger class. We would be rule by software and blockchain technology.
Bitcoin gives equal opportunity for earnings this is one of the best feature I love about this digital currency and if bitcoin will become a legal currency I think the econony will boost because this digital currency will not limit the transactions outside different countries and because of that it would be easy to sell different commodities outside our country and so as many investors can come and be part of our market
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.
Isn't Bitcoin considered as a currency right now? Or what you are trying to ask is if will it have an influence overall if Bitcoin is use considerable as a currency? Than if that is the question the answer is that it will improve the economy overall of the country with new kind of money entering into a country you are actually promoting the boost of its GDP as you are giving to its citizens a bigger buying power compared to when they are not earning extra income that came from Bitcoin. And that's not the only way it helps the economy of a country grow, foreigners can also help to if a country is accepting Bitcoin as a mode of payment it is also adding a boost to a country's economy.
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.
I think your question is 'if any goverment that regulate bitcoin as currency' how will be the economy looks likeAny country or government can create their own crypto currency and regulate withnin the country because they always wants to centralize the currency to rule them. Bitcoin should be like this in order transperent to everyone. It will be good if no country will ban bitcoin in future. That's enough. Fiat will be different and crypto cannot became a fiat. Decentralized will not work under any government.
Bitcoin cannot be controlled and regulated by anyone or even government cannot able to touch the btc economy. Already many governments tried for that no one achieved that here. If they accept the bitcoin as the legal money also regulations will not be used on btc transaction. Everything is anonymous in the blockchain ledger. So they have to accept but cannot expect the tax or anything.
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.
If you mean that bitcoin would be accepted in the economy as a currency and what effect would that have on our economy, then I think it will be an economy where we could use both the digital currency and our local currency at the same time with our own free will. I mean, we all know that bitcoin can't replace fiat money because there are also many things that bitcoin can't do that fiat does and vice versa. So, this will be good if it will also be accepted as a currency. It will open up many opportunities to bitcoin users. 
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.
I think your question is 'if any goverment that regulate bitcoin as currency' how will be the economy looks likeAny country or government can create their own crypto currency and regulate withnin the country because they always wants to centralize the currency to rule them. Bitcoin should be like this in order transperent to everyone. It will be good if no country will ban bitcoin in future. That's enough. Fiat will be different and crypto cannot became a fiat. Decentralized will not work under any government.
Bitcoin cannot be controlled and regulated by anyone or even government cannot able to touch the btc economy. Already many governments tried for that no one achieved that here. If they accept the bitcoin as the legal money also regulations will not be used on btc transaction. Everything is anonymous in the blockchain ledger. So they have to accept but cannot expect the tax or anything.
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.
I think your question is 'if any goverment that regulate bitcoin as currency' how will be the economy looks likeAny country or government can create their own crypto currency and regulate withnin the country because they always wants to centralize the currency to rule them. Bitcoin should be like this in order transperent to everyone. It will be good if no country will ban bitcoin in future. That's enough. Fiat will be different and crypto cannot became a fiat. Decentralized will not work under any government.
First of all,bitcoin would not be able to become primary currency due to its high volatile price.Even though if it gets famous in future,still it might be used as a secondary currency.In future,banks may suffer due to loss of revenue which they get from transactions.
Bitcoin would help for the progress of a nation's economy by providing new earning opportunities to unemployed people.It has already started to play an important role in countries like nigeria,venezuela where economic crisis has occurred.
This is the only thing on where I do see that bitcoin would benefit a particular country which it would really give an opportunity for those jobless people on that place where would really lessen up on the unemployment rate and as being said Bitcoin would never become a main currency and even on my dreams this thing wont really happen as long theres government they will really still be the one who rule and make such decision on their country or on their vicinity. Bitcoin would help for the progress of a nation's economy by providing new earning opportunities to unemployed people.It has already started to play an important role in countries like nigeria,venezuela where economic crisis has occurred.
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.
Although I know it can never happen, I think that Bitcoin will be used more widely very soon. Cryptobanks will play great role then.
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.
The economy is no. All businesses evolve at the expense of loans. How do you imagine the venture will take out a loan in bitcoins. It is better to close the plant. The economy cannot survive without manual control. Periodically various branches require support. As the government will do if they don't control the number of coins in the economy. This will never happen. It is a utopia.
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.
If cryptocurrencies become more mainstream and easier to use and safe, we are going to see people using cryptocurrencies instead of banks to store their money. Not everyone will do this, but it will have an impact on the banking industry. Banks will have to evolve to keep up and of course some will go out of business.
Another thing that’s going to happen is that businesses will begin to used cryptocurrencies as a method of payment. This will impact the credit card industry which is also the big banks.
We will see other impacts in the way we send money and information around the world. There will be impacts in ways that we haven’t thought of yet.
I imagine the world to be very technologically advanced by the time bitcoin is totally adopted. I guess an impact it would have would be that it may hurt the small enterprises and industries, unless a way were to developed for those to accept bitcoin as a payment system. Just imagine street vendors having to accept bitcoin. It's either their businesses get killed or they survive by adopting.
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 have been not so settled economy because of one most important character of the bitcoin, decentralisation.
I mean this is the thing which is keeping bitcoin ATH by attracting more investors into it and they can operate it the way they want. Billionaires are manipulating the market and even on top of this we saw how china behaved in early days. So I believe that it could have been very very unstable market to be used as currency in the real time. Lots of conflict in the trisection could have been their which we see it today also even though it is being used as investment asset only. If it would have currency then it could have never tolerated the instability and thus everything could have been little messy in terms of economic conditions, all the ups and down.
Bitcoin can not become the main currency because its circulation is impossible to regulate. Inflation is the mechanism used by the government to the expense of citizens to revive the economy. How this can be done using bitcoins? Bitcoin will always be in the shadow of Fiat, but it would be a significant damper in the event of emergency situations in the economy.
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.
Currency from what? It can be called as the digital financial economic. But it might not become a part from the economic itself. This time bitcoin still considered as the commodity rather than a currency.But a lot of people are not understand about what are you saying mate.
First of all,bitcoin would not be able to become primary currency due to its high volatile price.Even though if it gets famous in future,still it might be used as a secondary currency.In future,banks may suffer due to loss of revenue which they get from transactions.
Bitcoin would help for the progress of a nation's economy by providing new earning opportunities to unemployed people.It has already started to play an important role in countries like nigeria,venezuela where economic crisis has occurred.
Bitcoin would help for the progress of a nation's economy by providing new earning opportunities to unemployed people.It has already started to play an important role in countries like nigeria,venezuela where economic crisis has occurred.
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.
I think what you are trying to say is the economic system or model. If bitcoin will implement in the world. For sure, capitalism will be the best economic model in bitcoin. Since it is decentralized, private ownership will suit in order for the economy to grow up. It is good to integrate bitcoin in purchasing items or transacting someone. Bitcoin ease everything. Jump to: