Topic: Why bitcoin can not become a global currency - page 3. (Read 1928 times)
Because bitcoin will not be allowed to do this, it is not profitable for the state, no one wants to depend on another, everyone wants their own currencies.
there must be a special system for bitcoin to be able to meet the requirements of becoming a global currency. now I think bitcoin is more suitable as a money companion, not as a global currency. because seen even now bitcoin still has popularity even if only as a companion for money
I think Bitcoin will never be a global currency, because Bitcoin is a digital currency for investment means. But fore whether bitcoins are used for global currency or not. I don't think it will. Because Bitcoin's price soared.
That's what is happening now, Bitcoin has been part of investment scheme of people, almost everyone are holding it or cashing out but they don't do payment system which is the main goal for crypto, but it is fine as Bitcoin is like a precious gem 'gold' which is worth investing and holding, me too, if I do have spare money, I will just hold my Bitcoin and won't use it for now.
This kind of perception is one of the reasons why bitcoin is still in the bottleneck of massive adoption. And I think, we are all guilty of that. As much as possible, we want to hoard bitcoin for as long as we can. Because of the hope that someday it will be valuable, we don't want it to spend for unnecessary things.
why are we to blame if there are not enough retailers or traders that accept it?
I understand your point , the problem of not spending because of growth expectation is here, but its a double edged sword
we do not spend not only because we think it will be more valuable , but because you can't go to a supermarket next door and pay with bitcoins
or go to a pub and buy a pint with bitcoin and the legal status of bitcoin is not clear in so many countries that is hard to expect to many medium and small enterpreneurs to accept it
I think Bitcoin will never be a global currency, because Bitcoin is a digital currency for investment means. But fore whether bitcoins are used for global currency or not. I don't think it will. Because Bitcoin's price soared.
That's what is happening now, Bitcoin has been part of investment scheme of people, almost everyone are holding it or cashing out but they don't do payment system which is the main goal for crypto, but it is fine as Bitcoin is like a precious gem 'gold' which is worth investing and holding, me too, if I do have spare money, I will just hold my Bitcoin and won't use it for now.
This kind of perception is one of the reasons why bitcoin is still in the bottleneck of massive adoption. And I think, we are all guilty of that. As much as possible, we want to hoard bitcoin for as long as we can. Because of the hope that someday it will be valuable, we don't want it to spend for unnecessary things.
I think Bitcoin will never be a global currency, because Bitcoin is a digital currency for investment means. But fore whether bitcoins are used for global currency or not. I don't think it will. Because Bitcoin's price soared.
That's what is happening now, Bitcoin has been part of investment scheme of people, almost everyone are holding it or cashing out but they don't do payment system which is the main goal for crypto, but it is fine as Bitcoin is like a precious gem 'gold' which is worth investing and holding, me too, if I do have spare money, I will just hold my Bitcoin and won't use it for now.
In the first place how could we define a global currency? Does it mean that we should use that particular cryptocurrency in all of the transactions that we have over the network? Because in my perception, the main concern is to use bitcoin over the whole world, then it can already be classified as a global currency, it doesn't need to be implemented at all of the transactions that we have. In this case, we can utilize bitcoin then utilize altcoin as well to save transaction fees mostly the reason why we don't use bitcoin every time.
I think Bitcoin will never be a global currency, because Bitcoin is a digital currency for investment means. But fore whether bitcoins are used for global currency or not. I don't think it will. Because Bitcoin's price soared.
That's what is happening now, Bitcoin has been part of investment scheme of people, almost everyone are holding it or cashing out but they don't do payment system which is the main goal for crypto, but it is fine as Bitcoin is like a precious gem 'gold' which is worth investing and holding, me too, if I do have spare money, I will just hold my Bitcoin and won't use it for now.
Well, I think you have a valid point, there must be a means of ensuring accountability with Bitcoin, or else it will just end up being used for crimes because of its unaccountability.
Cars, shoes, email and phones are all being used for crimes. Should we ensure accountability of those, also?
Buddy these tracking and id's you have mention, don't you know that one of bitcoin's features is anonymity? I know these bad actors, fraud, scammers, money laundering really exist and it is the platforms or companies duty to implement kyc to avoid these incident.
Well, I think you have a valid point, there must be a means of ensuring accountability with Bitcoin, or else it will just end up being used for crimes because of its unaccountability.
~snip~
All the time there will be multiple ways to blame Bitcoin for money laundering, crimes, many bad things, but we must start that all crimes against humanity have been planned and managed with FIAT money.
Back then,
There are a lot of reasons why Bitcoin can't be easy becoming a global currency one is that, REGULATION. People could feel they will be secured when they are protected by the government. Regardless of its volatility, business owners need assurance as well cause they are afraid any time of the day they will lose their money.
~snip~
All the time there will be multiple ways to blame Bitcoin for money laundering, crimes, many bad things, but we must start that all crimes against humanity have been planned and managed with FIAT money.
Back then,
There are a lot of reasons why Bitcoin can't be easy becoming a global currency one is that, REGULATION. People could feel they will be secured when they are protected by the government. Regardless of its volatility, business owners need assurance as well cause they are afraid any time of the day they will lose their money.
Linking an ID to a wallet is insane. What more must the government want?
Bitcoin is already a global currency and can be used in many places all over the world.
Crap man. What illegal activities? It is the governments that want to remain in power like some sort of monarch and us peasants must use their fiat. The tax thing is another story but it has nothing to do with the government but they still want their cut.
Bitcoin is already a global currency and can be used in many places all over the world.
At current state it can not become a global currency due to illegal activities as some of the ones you described.
Another reason is due to political money countrol by the governments including taxes.
If everything would have an id stick to it it wouldn't be cryptocurrency anymore but other "thing".
Cryptocurrencies are anonymous therefore you can't link it an id and that's it.
Sure there could be mandatory regulation that would incentivate it's global usage but overall and currently it's impossible.
Another reason is due to political money countrol by the governments including taxes.
If everything would have an id stick to it it wouldn't be cryptocurrency anymore but other "thing".
Cryptocurrencies are anonymous therefore you can't link it an id and that's it.
Sure there could be mandatory regulation that would incentivate it's global usage but overall and currently it's impossible.
Crap man. What illegal activities? It is the governments that want to remain in power like some sort of monarch and us peasants must use their fiat. The tax thing is another story but it has nothing to do with the government but they still want their cut.
At current state it can not become a global currency due to illegal activities as some of the ones you described.
Another reason is due to political money countrol by the governments including taxes.
If everything would have an id stick to it it wouldn't be cryptocurrency anymore but other "thing".
Cryptocurrencies are anonymous therefore you can't link it an id and that's it.
Sure there could be mandatory regulation that would incentivate it's global usage but overall and currently it's impossible.
Another reason is due to political money countrol by the governments including taxes.
If everything would have an id stick to it it wouldn't be cryptocurrency anymore but other "thing".
Cryptocurrencies are anonymous therefore you can't link it an id and that's it.
Sure there could be mandatory regulation that would incentivate it's global usage but overall and currently it's impossible.
~snip~
All the time there will be multiple ways to blame Bitcoin for money laundering, crimes, many bad things, but we must start that all crimes against humanity have been planned and managed with FIAT money.
The adoption of Bitcoin is a fact, it is starting with more force in countries with acute financial crises, with high inflation and with a high content of great need, the demand that is being managed is impressive, and more now that the price is high volatility, many investors take advantage of FUD to buy cheap, weak hands sell, negative news, that is, the market moves in a very fast way, movements are much faster than in the Stock Market, this is a great indication of adoption and new players in the market.
I think what you said is only a part, bitcoin is also constrained by the development of organizations that can be affected when bitcoin becomes popular in the world like banks, ... yeah as you think I am think so, only need to remove the disadvantages of cryptocurrencies, then it can develop
~snip~
All the time there will be multiple ways to blame Bitcoin for money laundering, crimes, many bad things, but we must start that all crimes against humanity have been planned and managed with FIAT money.
The adoption of Bitcoin is a fact, it is starting with more force in countries with acute financial crises, with high inflation and with a high content of great need, the demand that is being managed is impressive, and more now that the price is high volatility, many investors take advantage of FUD to buy cheap, weak hands sell, negative news, that is, the market moves in a very fast way, movements are much faster than in the Stock Market, this is a great indication of adoption and new players in the market.
I think what you said is only a part, bitcoin is also constrained by the development of organizations that can be affected when bitcoin becomes popular in the world like banks, ... yeah as you think I am think so, only need to remove the disadvantages of cryptocurrencies, then it can develop
Bitcoin is a global currency. Bitcoin is accepted in developing countries, the amount of Bitcoin left in the world is very small and the governments of their countries are not interested in mining Bitcoin and own it because they have come later in this race.
Bitcoin is traceable, and if you are buying on an exchange with KYC, your ID is linked to your bitcoin.
There are ways to get around this, just like there is with USD. Is your ID on a dollar bill?
Yes but there are decentralized exchanges in which KYC is not needed.At this stage of the formation of cryptocurrencies and bitcoin in particular, it is very difficult to determine the owner of bitcoin. There are ways to get around this, just like there is with USD. Is your ID on a dollar bill?
bitcoin is growing fast on a decentralized path, tracking systems can be seen in transaction hashes. But for ID, not everyone wants it, especially whales, here there is something interesting related to economic freedom.
if bitcoin is included in a centralized system, making it adopted faster, but its value will continue to be suppressed by various policies that will never be higher than fiat, this will make bitcoin end up as a river rock. BTC will become a global currency in its own way.
if bitcoin is included in a centralized system, making it adopted faster, but its value will continue to be suppressed by various policies that will never be higher than fiat, this will make bitcoin end up as a river rock. BTC will become a global currency in its own way.
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