Bitcoin is a global currency. Bitcoin is accepted in developing countries. Authorities fear bad people use Bitcoin to illegally transfer money between countries. But if there is an illegal transfer, it is their money and they are entitled. Authorities must investigate and not blame Bitcoin.
The problem with Bitcoin is that so many people want to speculate on Bitcoin and this makes the risk of manipulating Bitcoin value very large. The number of Bitcoin remaining in the world is very small and the governments of their countries are not interested in Bitcoin mining and owning them because they have come later in this race. They will find a way to create their own crypto.
Topic: Why bitcoin can not become a global currency - page 4. (Read 1928 times)
I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise,
It's a silly joke, it makes no sense.No need to make Bitcoin as a global currency, it will make the price of bitcoin equivalent to the value of currencies in general, such as the dollar, eur etc.
where there is a currency in this world can reach $ 10,000 - $ 20.000, ridiculous.
I prefer as it is today, Bitcoin is valued with a very high and fantastic sale value, much higher with the price of gold.
Your mind is a bit chaotic and confusing, talk about IDs, tracking, etc.
Give ideas that make us able to have fun with Bitcoin now.
For example: https://bitcointalksearch.org/topic/fun-with-bitcoin-jokes-i-give-merit-to-new-jokes-please-contribute-5198754
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?
There are ways to get around this, just like there is with USD. Is your ID on a dollar bill?
Bitcoin transactions using blockchain are difficult to track if not impossible, UK just subscribed to the idea of trading cryptocurrency, a lot of other nations do not,its not time yet for bitcoin to become globally acceptable
BTC is trackable now 
To register a crypto wallet you should always pass KYC. Well, you can stay away from it but then you won't be able to exchange crypto/fiat.
To register a crypto wallet you should always pass KYC. Well, you can stay away from it but then you won't be able to exchange crypto/fiat.
This is hard to do especially since we can easily create a new bitcoin address, Like in Coinbase, Electrum, Coinomi and many more. We also cannot control bitcoin because it is anonymous and we have no idea who actually created bitcoin.
So I think bitcoin will remain decentralized and unstoppable.
So I think bitcoin will remain decentralized and unstoppable.
Because of decentralization and anonymous.. one day bitcoin will be world reserve currency.
because Bitcoin is unstable, that's why the government has announced bitcoin as an illegal digital currency. I consider the government to ban it because bitcoin has too many negative sides rather than the positive side, therefore the government bans crypto or Bitcoin, because bitcoin is considered illegal and can endanger a country.
Bitcoin is a currency that prioritizes user confidentiality so transactions that are prohibited by the state can run initially. Bitcoin is used to buy drugs, firearms and pay for assassinations on the deepweb so it will be very difficult to change the system from confidentiality to open
Another reason is a lot of people still do not understand it, so its not easy to use like fiat money is, big social media companys like Facebook bringing out its ouwn currency will help and maybe sometime in the future people will understand and use it more like a currency rather than a trading commodity.
Trucking on Bitcoin is on. Now, to launch such a system, all the government has to take the initiative legally. However, it is possible to start the trucking system. This requires long-term technical development need.
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.
Speaking of tracking, we can trace it only by IP, that's if you have important authority. I think you need to check the words of the experts, that cryptocurrency is very risky, this is more to volatility. Aas a currency, I'm sure experts think about how volatile values can be very fast and change. This shows how cryptocurrency often moves unexpectedly, so in terms of value it is very risky.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.
Many people use cryptocurrency as a global transaction tool. Because the transaction concerns Peer to peer, as long as both sides accept this. Imagine how each government approves crypto as a global currency. It is very impossible for me, the government wants the country to progress compared to the others, the country's competition makes no sense if you understand it.
What are you trying to say about bitcoin cannot become a global currency?
at the moment bitcoin is slowly making its way to be a global currency infact there are top
company who is accepting bitcoin as payments, there are also banks that is using and have bitcoin atm's
that are being use by people who already use bitcoin as payment, here in the philippines , one of the banks that
is already have atm is Unionbank, there it has atm machine, in a company i know you are familliar with microsoft
they are accepting bitcoin as payments as of this moment , i don't know what you are trying to explain
at the moment bitcoin is slowly making its way to be a global currency infact there are top
company who is accepting bitcoin as payments, there are also banks that is using and have bitcoin atm's
that are being use by people who already use bitcoin as payment, here in the philippines , one of the banks that
is already have atm is Unionbank, there it has atm machine, in a company i know you are familliar with microsoft
they are accepting bitcoin as payments as of this moment , i don't know what you are trying to explain
If every Bitcoin ID can be traced to a specific individual, that is, the owner of Bitcoin. Bitcoin loses the essential value of cryptocurrency. If bitcoin is popular, national regulation will be very clear about everyone's bitcoin ID. Every transaction of it will be tracked. https://www.kindpng.com/imgv/JTbmmw_bitcoin-png-image-transparent-background-bitcoins-png-png/
I think this has been discussed many times already
there are many reasons , but the most important ones are:
1. terrible speed of transactions, bitcoin network cannot compete with Visa nad Mastercard etc. its 1000x times less operations per second , unfortunately
Lightnng network is here to facilitate the things , but it is far from being the solution bitcoin needs to challenge payment systems
2. global central banks simply will not allow some decentralized currency to prosper
they didn't set the network of central banks around the globe for some unknown upstart to get a share of their pie
3. it is too volatile , the rules are not set and the markets are in the wild west period
you would not want to que , lets say to buy a bottle of milk , only to realize you haveto pay for it 20% more than an hour ago
4.every country has its own regulations and they won't agree on how to treat cryptocurrencies
opinions differ as in ban or legalize completely
there are many more , but these , IMHO are the most important ones
there are many reasons , but the most important ones are:
1. terrible speed of transactions, bitcoin network cannot compete with Visa nad Mastercard etc. its 1000x times less operations per second , unfortunately
Lightnng network is here to facilitate the things , but it is far from being the solution bitcoin needs to challenge payment systems
2. global central banks simply will not allow some decentralized currency to prosper
they didn't set the network of central banks around the globe for some unknown upstart to get a share of their pie
3. it is too volatile , the rules are not set and the markets are in the wild west period
you would not want to que , lets say to buy a bottle of milk , only to realize you haveto pay for it 20% more than an hour ago
4.every country has its own regulations and they won't agree on how to treat cryptocurrencies
opinions differ as in ban or legalize completely
there are many more , but these , IMHO are the most important ones
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?
What is your definition of a global currency? Because to me, global currency presents a currency that can be easily used in any country you find yourself without any difficulties. Personally, I see Bitcoin and other cryptocurrencies as global currencies since I can easily trade my bitcoin or cryptocurrencies for physical fiats in any part of the world. Any where you go in the world, there are institutions and organizations that will trade their fiat currencies for cryptocurrencies. Once there is internet connections all around the world, bitcoin and cryptocurrencies in general are global currencies.
I think bitcoin really can't become a global currency because bitcoin has a high risk with unstable prices and if the economy uses bitcoin there will be chaos due to unstable prices
There are several reasons why any decentralized cryptocurrency cannot become a world currency. States and their banks need certain guarantees that the means of payment used will not depreciate sharply. A decentralized cryptocurrency, including bitcoin, just can not give any guarantee to participants in financial relations. For any state, bitcoin is alien, not backed by the authority and obligations of any state. Well, an important role is played by large price volatility and very low possible state control over financial flows in cryptocurrency.
Not good respond from country with bitcoin become legal currency I think why bitcoin con not become global currency for the future, when many country have legal using bitcoin as currency I think bitcoin will be better become global currency payment. I think weakness of bitcoin become global currency with take long term for sending and receiving payment.With that been said, no crypto or fiat currency will be use as global currency because the rules and regulations of every countries are not the same.
Nevertheless, you're wrong when said bitcoin cannot be use in daily life activities because we have crypto credit card which make people spend their bitcoin anytime anyday.
Not yet, it needs to reach even more consumer confidence and better showing it to other users. it takes time for something like that to happen, but it will surely happen, maybe not like bitcoin, but cryptocurrency is the money of the future.
if you say there are less consumers, I think there are already very many consumers and demand is always increasing, but the problem is still a clear regulation about the use of bitcoin in every country, when many countries have received bitcoin payments and many transactions have used bitcoin it will be very easy to make bitcoin a global currency.
Not yet, it needs to reach even more consumer confidence and better showing it to other users. it takes time for something like that to happen, but it will surely happen, maybe not like bitcoin, but cryptocurrency is the money of the future.
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