Why bitcoin can not become a global currency - page 5.

suzanne5223

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Quote from: Ayiranorea on November 22, 2019, 02:43:02 PM

Quote from: suzanne5223 on November 22, 2019, 02:06:35 PM

Quote from: samcun on November 22, 2019, 07:55:06 AM

my opinion is that Bitcoin has no effect on a country and is unstable too so bitcoin cannot become a global currency. therefore the government must pass laws that can regulate bitcoin from all possibilities or crimes, such as money laundering, theft of bitcoin and others.

If you people believes the decentralization and volatility in nature of bitcoin was the reason bitcoin can't be a global currency you are wrong. I believe that the Libra coin not been supported by the governments and the institutions despite it was said to be centralized and have fast transaction confirmation should be enough understand that I'm right with what I just said.

Volatility and decentralization are the two important factors that make bitcoin more valuable. This isn't understood by majority of the users, if this goes centralized it'll be same as the currencies that undergo inflation. Here we have got the limitations that gives value with regards to the need. So it has the complete setup to be a global currency, but in real life implementation it takes time. Maybe after few generations this will happen.

I think the reason why some people don't see the volatility and decentralization of bitcoin as what make bitcoin more valuable is because their expectation towards Bitcoin is very high and they see bitcoin as a quick to rich scheme while the ignore the logical truth behind it creation.

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Quote from: suzanne5223 on November 22, 2019, 02:06:35 PM

Quote from: samcun on November 22, 2019, 07:55:06 AM

my opinion is that Bitcoin has no effect on a country and is unstable too so bitcoin cannot become a global currency. therefore the government must pass laws that can regulate bitcoin from all possibilities or crimes, such as money laundering, theft of bitcoin and others.

If you people believes the decentralization and volatility in nature of bitcoin was the reason bitcoin can't be a global currency you are wrong. I believe that the Libra coin not been supported by the governments and the institutions despite it was said to be centralized and have fast transaction confirmation should be enough understand that I'm right with what I just said.

Volatility and decentralization are the two important factors that make bitcoin more valuable. This isn't understood by majority of the users, if this goes centralized it'll be same as the currencies that undergo inflation. Here we have got the limitations that gives value with regards to the need. So it has the complete setup to be a global currency, but in real life implementation it takes time. Maybe after few generations this will happen.

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Quote from: hulla on November 22, 2019, 02:00:17 PM

Quote from: cutesgirl on November 21, 2019, 11:38:16 PM

Quote from: Tylev on November 20, 2019, 04:40:09 PM

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.

You guys are missing something. Bitcoin was not implemented to be global currency but to be the perfect alternative to save people from world economic break down and make peoples financially ok.
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.

Point taken. But in a sense Bitcoin is a global currency because anyone in any part of the world can use it although it is not legalized to some nor can be used in daily life more often than fiat. Though I find it convenient to do transactions that aren't local or within the country that I belong since it is much easier being peer to peer as what the Bitcoin is made by Satoshi Nakamoto. Mass adoption might come though I highly doubt that a single currency that would become the global currency that is accepted throughout the world would happen because of different set of laws and regulations that each country has and the fact that their monetary system is the manifestation of their sovereignty.

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I don't think this is a true conclusion
the forum is 10 year-old by today
bitcoin is the same age. quite a long time. and now what it can do? prety much huh, transfer without boder, and quite fast too.
to become a global currency, must take some time but I have faith on that.

suzanne5223

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Quote from: samcun on November 22, 2019, 07:55:06 AM

my opinion is that Bitcoin has no effect on a country and is unstable too so bitcoin cannot become a global currency. therefore the government must pass laws that can regulate bitcoin from all possibilities or crimes, such as money laundering, theft of bitcoin and others.

If you people believes the decentralization and volatility in nature of bitcoin was the reason bitcoin can't be a global currency you are wrong. I believe that the Libra coin not been supported by the governments and the institutions despite it was said to be centralized and have fast transaction confirmation should be enough understand that I'm right with what I just said.

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Quote from: cutesgirl on November 21, 2019, 11:38:16 PM

Quote from: Tylev on November 20, 2019, 04:40:09 PM

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.

You guys are missing something. Bitcoin was not implemented to be global currency but to be the perfect alternative to save people from world economic break down and make peoples financially ok.
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.

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my opinion is that Bitcoin has no effect on a country and is unstable too so bitcoin cannot become a global currency. therefore the government must pass laws that can regulate bitcoin from all possibilities or crimes, such as money laundering, theft of bitcoin and others.

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Quote from: Bim abk on November 22, 2019, 03:10:39 AM

Quote from: cutesgirl on November 21, 2019, 11:38:16 PM

Quote from: Tylev on November 20, 2019, 04:40:09 PM

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.

I think bitcoin will be difficult to legalize as a global currency, high inflation makes people think about that coupled with a sizable transaction fee. I think bitcoin remains a suitable asset for the global market

What?, high inflation, Bitcoin does not inflate.
https://bitcointalksearch.org/topic/m.53006960

Bim abk

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Quote from: cutesgirl on November 21, 2019, 11:38:16 PM

Quote from: Tylev on November 20, 2019, 04:40:09 PM

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.

I think bitcoin will be difficult to legalize as a global currency, high inflation makes people think about that coupled with a sizable transaction fee. I think bitcoin remains a suitable asset for the global market

cutesgirl

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Quote from: Tylev on November 20, 2019, 04:40:09 PM

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.

ADVB

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Hola buen día, encontré esta nota y me pareció interesante el porque RUSIA se opone a que la criptomoneda sea utilizada como una manera de sustituir a la moneda global:

La gobernadora del Banco Central de Rusia, Elvira Sajipzádovna Nabiúllina, expresó este jueves su oposición al uso de las criptomonedas dentro del sistema financiero ruso.

Durante su comparecencia ante la cámara baja de la Asamblea Federal de Rusia, Duma Estatal, Nabiúllina dijo que las reservas de oro y monedas extranjeras del país aumentaron el año pasado de USD 430 mil millones a 469 mil millones.

“Gracias a la disciplina financierla nuestras reservas alcanzaron USD 491 mil millones a partir del 1 de mayo. Nos hemos acercado a nuestro objetivo de 500 mil millones. Este nivel es satisfactorio y podría abarcar los riesgos exteriores”, añadió Nabiullina.

“No vemos la posibilidad de que las criptomonedas puedan reemplazar os medios financieros (actuales)”, afirmó la gobernadora.

Anteriormente el ministro de Finanzas ruso, Anton Germanovich Siluanov, había dicho que las criptomonedas debían adquirirse y usarse bajo el control del Estado.

Con todo esto se da a demostrar que es necesario que sea regido por protocolos y leyes, para que no pueda afectar la economía, y eso a todo el mundo le preocupa.

Tylev

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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.

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Quote from: hahay on November 20, 2019, 02:13:29 PM

I only feel that bitcoin is no longer a part of the currency because in reality bitcoin is only used to benefit from investments and also trading that is normally done, and that's why it seems that bitcoin is no longer working as a currency should because it would be more inclined to a digital assets or crypto assets. That is in my opinion bitcoin cannot or is difficult to become a currency and there are many other factors.

I also think that bitcoin is currently more dominant in the investment field, to be used as a transaction tool might take a lot of fees. and in my opinion this is a good thing because it increased its position from a transaction tool to an investment.

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I think it's not the main point, because any currency is used to launder money. If governments were interested in finishing money laundering they would start by deleting paper money from their countries and adopt a 100% digital payment process method for everything.
Bitcoin can't become a global currency just because it's too volatile, a country can't rely its economy on a currency like bitcoin knowing tomorrow they can skyrocket or bankrupt.

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I only feel that bitcoin is no longer a part of the currency because in reality bitcoin is only used to benefit from investments and also trading that is normally done, and that's why it seems that bitcoin is no longer working as a currency should because it would be more inclined to a digital assets or crypto assets. That is in my opinion bitcoin cannot or is difficult to become a currency and there are many other factors.

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Quote from: djefes on October 16, 2019, 04:07:11 AM

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?

You confuse BTC with Bitcoin and laundering is only possible when you cash out, blockchain records are "forever".

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Quote from: oleg681010 on October 16, 2019, 04:53:49 AM

Why not?? Bitcoin can become a global cryptocurrency, this is prevented only by banking systems

banks will do a lot of dirty things to stop the bitcoin move. but funny, banks are starting to imitate the steps of bitcoin in digital assets and transactions. they forget, things like that were started by bitcoin.

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From What I learnt from one of FreshForex weekly tutorials on Crypto, Bitcoin will be accepted with time, But not just yet, it must be embraced by most governments before it can be accepted widely!

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Quote from: Slow death on November 08, 2019, 05:47:08 AM

Quote from: memedennis on November 08, 2019, 05:24:50 AM

i think one of the reasons bitcoin will become a global currency is the rate of acceptability . so far so far so good , alot of organizations are gradually accepting bitcoin as means of payment .

bitcoin is already a global currency, think of the following:

I am from Mozambique and I am in this forum, in this forum there are people from all countries of the world and these people use bitcoin, I may be wrong in my statistics when I say that this forum has people from all countries of the world. But I believe at least one person from every country in the world uses or has had bitcoin.

OP, governments' concern about bitcoin is not just about money laundering, Is about political issues like:

Which country created bitcoin (the person who created bitcoin is from which country)?

this is the central point of many countries' hesitation to agree to create good bitcoin laws

Yes, in some form bitcoin is truly the global currency. It can be accessed from anywhere in the world as well can be cashed out to any of the local currency. As said at least one person from each country keeps using bitcoin. The controversy keeps going forever, who created and which country has a major contribution. The role of the governments in the bitcoin adoption and so on.

We're at the very early days of a new technology making a change in the financial ecosystem. Now few countries have begun to support bitcoin with some legal regulations, and hope the same gets followed by rest of the countries.

Slow death

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Quote from: memedennis on November 08, 2019, 05:24:50 AM

i think one of the reasons bitcoin will become a global currency is the rate of acceptability . so far so far so good , alot of organizations are gradually accepting bitcoin as means of payment .

bitcoin is already a global currency, think of the following:

I am from Mozambique and I am in this forum, in this forum there are people from all countries of the world and these people use bitcoin, I may be wrong in my statistics when I say that this forum has people from all countries of the world. But I believe at least one person from every country in the world uses or has had bitcoin.

OP, governments' concern about bitcoin is not just about money laundering, Is about political issues like:

Which country created bitcoin (the person who created bitcoin is from which country)?

this is the central point of many countries' hesitation to agree to create good bitcoin laws

Topic: Why bitcoin can not become a global currency - page 5. (Read 1932 times)