Topic: Why bitcoin can not become a global currency - page 2. (Read 1928 times)
I think the main reason is the probability that it can be used to some crime like money laundering. Plus the fact that government doesn't want bitcoin in their country because it may replace fiat money sooner or later. I think it also has a problem in terms of security because it is working all over the internet. Internet is vulnerable to every hackers maybe that is also their reason why they dont want it to become global currency.
Probably it can be a global currency in the future, as we know now there's not a lot of people who use cryptocurrencies around the world. I meant, we need more time to see bitcoin shining in the future. It's just a matter of time. I'm kinda sure that bitcoin will have a bright future and probably we'll see it as a global currency in the future, it's going to be so good for bitcoin and even for other altcoins
Not really, but you are correct since it really takes time for a project or cryptocurrency to achieve some of its goals, but bitcoin needs to be flexible enough to adjust to the market needs especially in lowering its transaction fees where I find not gonna happen. If people will learn the essence that bitcoin is used for huge amount of money transaction, that would be the time we could consider bitcoin could really be a global currency, if not, then people will find altcoins quite better compared to bitcoin in terms of the transaction (efficiency).
I think so, this is too far if Bitcoin is made a global currency. Even though that possibility exists. but as we know, transactions using Bitcoin as a payment instrument are still opposed in some countries. Not easy to implement. only, if you look at the development of digital money. Bitcoin has pioneered quite a lot of Unicorn / Fintech companies that issue digital money as payment transactions that have the same value as fiat currencies.
It is unlikely Bitcoin will be fully legalized even after 10 years. Bitcoin is more likely to be a global independent asset for people who want to abandon a centralized financial system. Governments of a lot of states don't want to legalize Bitcoin because it will destroy corruption and a centralized management system, equivalent to a loss of power
I still think the government is trying hard to have btc more than half the amount available through institutions or even with stable coin conversions to launch. they will be able to control it afterwards and can be made into a kind of reserve because of limitations and scarcity in the future.in this way they will be able to control and then be able to create a new global digital economic order. This is only a rough analysis because in the global economy there must be a dominant party outperforming the others, legalization is only a matter of time.
I think creating a tracking system for Bitcoin is a very bad idea. It doesn't conform to Bitcoin's emergence philosophy. People headed here to escape the current economy. If exchangeler comes up with more hacking news. Decentralized systems may be more popular. I don't like giving my credentials.
in my opinion bicoin has now become a global currency, the proof for the whole world is the same bitcoin price ..!
I don't think that bitcoin become yet a global currency as we all know that not all the countries legalized bitcoin, so we can't just say it's already a global currency I guess. However, there's a lot of people around the world didn't even know about bitcoin, I think it's gonna take a while like from 1 to 10 years to bitcoin will be very known in the world and probably it can be officially a global currency at that time.It is unlikely Bitcoin will be fully legalized even after 10 years. Bitcoin is more likely to be a global independent asset for people who want to abandon a centralized financial system. Governments of a lot of states don't want to legalize Bitcoin because it will destroy corruption and a centralized management system, equivalent to a loss of power
in my opinion bicoin has now become a global currency, the proof for the whole world is the same bitcoin price ..!
I don't think that bitcoin become yet a global currency as we all know that not all the countries legalized bitcoin, so we can't just say it's already a global currency I guess. However, there's a lot of people around the world didn't even know about bitcoin, I think it's gonna take a while like from 1 to 10 years to bitcoin will be very known in the world and probably it can be officially a global currency at that time.
It's decentralized, and not supported by the GOVT and BANKS.
it won't get world all-inclusive, yet millennials are getting it up like hotcakes.
Besides divider st, are currently intrigued.
Regardless of what you think or hear, this isn't GOING AWAY…
it won't get world all-inclusive, yet millennials are getting it up like hotcakes.
Besides divider st, are currently intrigued.
Regardless of what you think or hear, this isn't GOING AWAY…
Bitcoin still can't become global currency because many country dislike with bitcoin as payment currency, they will banned bitcoin and ask to other country for stopping using bitcoin as investment assets, many countries scare when bitcoin become popular many people not care for saving money in the bank but look interested for investing and hold to convert with bitcoin and altcoin assets.
licensing regulations that have not been comprehensive in this world into bitcoin cannot be used as a major global transaction, and many other factors make bitcoin unable to be used en masse for transactions. and large transaction costs make it rarely used for normal transactions, and I think that bitcoin is more suitable for investment and blockchain technology will probably take up more space in the worldlegendary
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US Dollars are used for money laundering even more than Bitcoin, but they are a global currency regardless. Cash is even less trackable than Bitcoin, gold even less because you can melt it.
There are other reasons why Bitcoin will not beat USD for another decade probably. It's less convenient for everyday shopping, it requires some technical knowledge from users and its value in not stable enough so people are afraid to store their wealth in Bitcoins. But all that could change in the future.
There are other reasons why Bitcoin will not beat USD for another decade probably. It's less convenient for everyday shopping, it requires some technical knowledge from users and its value in not stable enough so people are afraid to store their wealth in Bitcoins. But all that could change in the future.
I don’t think that would be possible to include IDs to identify the sender or receiver info. Global currency means it’s should be accepted globally. We are yet to achieve it. Also, you can’t prevent the laundering by creating identity of any currencies. If it works, then “ laundering” word would not get such popularity. Where as, other than crypto, all fiats already are been being used laundering.
I also don't believe the inclusion of Bitcoin sender or receiver ID will happen and the government even understand that they can't achieve such regulation which is the reason why they make almost every crypto to fiat exchange site Io offer KYC/ AML. But purpose of Bitcoin was not to be global currency but liberation from economic break down for those who choose to use it.
I don’t think that would be possible to include IDs to identify the sender or receiver info. Global currency means it’s should be accepted globally. We are yet to achieve it. Also, you can’t prevent the laundering by creating identity of any currencies. If it works, then “ laundering” word would not get such popularity. Where as, other than crypto, all fiats already are been being used laundering.
Probably it can be a global currency in the future, as we know now there's not a lot of people who use cryptocurrencies around the world. I meant, we need more time to see bitcoin shining in the future. It's just a matter of time. I'm kinda sure that bitcoin will have a bright future and probably we'll see it as a global currency in the future, it's going to be so good for bitcoin and even for other altcoins
Not really, but you are correct since it really takes time for a project or cryptocurrency to achieve some of its goals, but bitcoin needs to be flexible enough to adjust to the market needs especially in lowering its transaction fees where I find not gonna happen. If people will learn the essence that bitcoin is used for huge amount of money transaction, that would be the time we could consider bitcoin could really be a global currency, if not, then people will find altcoins quite better compared to bitcoin in terms of the transaction (efficiency).
Probably it can be a global currency in the future, as we know now there's not a lot of people who use cryptocurrencies around the world. I meant, we need more time to see bitcoin shining in the future. It's just a matter of time. I'm kinda sure that bitcoin will have a bright future and probably we'll see it as a global currency in the future, it's going to be so good for bitcoin and even for other altcoins
Bitcoin still can't become global currency because many country dislike with bitcoin as payment currency, they will banned bitcoin and ask to other country for stopping using bitcoin as investment assets, many countries scare when bitcoin become popular many people not care for saving money in the bank but look interested for investing and hold to convert with bitcoin and altcoin assets.
licensing regulations that have not been comprehensive in this world into bitcoin cannot be used as a major global transaction, and many other factors make bitcoin unable to be used en masse for transactions. and large transaction costs make it rarely used for normal transactions, and I think that bitcoin is more suitable for investment and blockchain technology will probably take up more space in the world 
Hi, Gents,
I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?
I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?
most people accuse bitcoin of being very vulnerable to being used for money laundering, because it can be easily used by people who are not responsible for hiding the assets they have. but this is a false thought because in reality money laundering was in place before Bitcoin was issued, and bitcoin was created not for the purpose of such things, but to facilitate all transactions at a fairly low cost.
why can't bitcoin be a global currency?
because basically bitcoin is a technology that has a very valuable value like a currency but cannot be used as a transaction tool worldwide because its existence cannot be formalized by most countries.
That's not easy, I guess, considering that Bitcoin doesn't have someone's ownership status. where the bitcoin market is also free and can be accessed by everyone in the world. the problem of money laundering itself is a negative thing which basically can be done not only by crypto. actually it depends on each person's perspective, because there are still many people in the world using Bitcoin / crypto to make money and support their daily needs. when talking about altcoin / project, no one can be trusted to do that as well. Maybe in the future blockchain will be more advance.
Hi, Gents,
I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?
Containing an ID in each wallet is the same as centralization where all transactions look detailed. I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?
That is not the right way, it is better to give complete socialization so that people avoid money laundering practices because one of the reasons you refuse bitcoin to become a global currency is about money laundering.
There are couple of reasons still BTC failed to be a global currency,There are many countries still struggling for stable the economy of country and having threat of money laundering and illegal financial activities.
In future if possible for the government to track the crypto transactions then possible to be to legalize the Bitcoin.
In future if possible for the government to track the crypto transactions then possible to be to legalize the Bitcoin.
bitcoin will never be a global currency even though every wallet must have an identity. Why? because the value of bitcoin is volatile so it is not suitable as a currency the bitcoin community believes that bitcoin is a digital asset like gold not as payment.
Bitcoin is still using as a payment in the many countries i believe. There are huge countries adopting Bitcoin as a legal currency. Crypotocurrency is always volatile that's not a big deal. But it will not be as a world payment because many country government banned it to prohibited all of the illegal stuff.
Bitcoin still can't become global currency because many country dislike with bitcoin as payment currency, they will banned bitcoin and ask to other country for stopping using bitcoin as investment assets, many countries scare when bitcoin become popular many people not care for saving money in the bank but look interested for investing and hold to convert with bitcoin and altcoin assets.
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