Why bitcoin can not become a global currency - page 7.

angrybirdy

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Quote from: jakoylantern on October 25, 2019, 01:31:39 PM

For me, the main reason why bitcoin can't become a global currency because you don't have the identity on your wallet/BTC no KYC means that they can't tell how are you. Also, no one can control Bitcoin, for an example on scamming, e.g., if you are paying something using bitcoin, but after the transaction gets to confirm, you don't get what you paid for. In banks, you can retrieve your money, but in bitcoin, you can't. There are still some reasons why it can be done, especially to the government sector parts. By the way, cryptocurrency is created to become an alternate payment/transaction system. It never aims to become the primary currency.

aside from this, we all know that every country has a different value in their currency.
Bitcoin can't make every country to become equal in their economy. Big countries such as US and China won't leave this to happen, they have the biggest economy and they won't agree to become equal with other countries with an economic crisis.

jakoylantern

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For me, the main reason why bitcoin can't become a global currency because you don't have the identity on your wallet/BTC no KYC means that they can't tell how are you. Also, no one can control Bitcoin, for an example on scamming, e.g., if you are paying something using bitcoin, but after the transaction gets to confirm, you don't get what you paid for. In banks, you can retrieve your money, but in bitcoin, you can't. There are still some reasons why it can be done, especially to the government sector parts. By the way, cryptocurrency is created to become an alternate payment/transaction system. It never aims to become the primary currency.

vintages

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Quote from: diahsw on October 24, 2019, 09:16:20 PM

in my opinion, why is bitcoin never a global currency, because every country already has its own currency, if you want to put bitcoin in it, of course there is a process that involves the entire country. If this is the case I find it difficult to make bitcoin a global currency ... !!

Plus one on the point you stated about every country having their own currency.
Probably when there is a world single power, then there will be a one single currency and Bitcoin might be part of it, aside that, Bitcoin can only work in line with every country currency to be functional. That is if it is acceptable in that country.

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Quote from: diahsw on October 24, 2019, 09:16:20 PM

in my opinion, why is bitcoin never a global currency, because every country already has its own currency, if you want to put bitcoin in it, of course there is a process that involves the entire country. If this is the case I find it difficult to make bitcoin a global currency ... !!

I think that means Bitcoin as a global currency like a dollar (widely used). This is not yet possible, because global acceptance by all the countries is needed, and this is not possible, because many countries see Bitcoin as a threat to their economy

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Bitcoin for many - roulette replacement or, speaking financially, it is a great asset for speculation. Buying bitcoins is relatively simple, does not require any special knowledge and trips to investment companies. Cryptocurrencies have very sharp fluctuations, which attracts a lot of “gamblers” to the “game” with the course - those who rather place bets rather than invest. This only increases the fluctuations and makes Bitcoin look like a financial pyramid. But in the Neironix platform, i find a lot of interesting info.

Gotumoot

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Many Bitcoin addresses are genarates everyday, and each one is unique and hard to guess who owns it. And this is why bitcoin is what it is today. So if we insist on having a tracking id to find out who owns it maybe many investors will stop investing in bitcoin. And this is definitely going to be controlled by the government that most crypto currency investors don't like.

AliMan

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I think this plan was too hard for the legislators to fulfill what's the motive and visions for bitcoin, since those said factors like money laundering and other crimes were their basis for hindering this as global currency. Of course the volatile behavior of bitcoin was the first thing about it, but the awareness of it doesn't stop each individuals to still keep this as an asset due to financial independence. Basically our government system cannot intervene on its systematic approach, due to decentralization of bitcoin which was separated from fiat economy.

White Christmas

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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?

The strength of bitcoin is being anonymous so when we provide each wallet our ID's then it would be hard for us to remain anonymous. If we provide our id's then we would probably more easier to track but it is also good because it will lessen the crime in the crypto but in the other side we will not become anonymous anymore if this happens.

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I think every digital currency is short of global currency since it's been using everywhere, but in terms of legality then it can't be still global legal currency, I think there are a lot of reasons behind this scene, First of all, Bitcoin is a decentralized currency, it can't be controlled or regulated by any means, So when you have no control on your act then it must be crazy, I think that's the main problem of becoming a global currency, another thing is that Bitcoin is becoming a part of dispute around the world especially for the conventional banking system and fiat money, So they are trying to minimize Bitcoin and pushing the government for not declaring as a legal currency.

Kambal2000

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Quote from: diahsw on October 24, 2019, 09:16:20 PM

in my opinion, why is bitcoin never a global currency, because every country already has its own currency, if you want to put bitcoin in it, of course there is a process that involves the entire country. If this is the case I find it difficult to make bitcoin a global currency ... !!

Added to that, not all countries are in favor in cryptocurrency, yes they might want crypto, but just means as payment solution, alternative money transfer for fast remitting or money, can be a form of investment but not as a global currency, although I would love too, still we know that it can't happen as of the moment.

diahsw

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in my opinion, why is bitcoin never a global currency, because every country already has its own currency, if you want to put bitcoin in it, of course there is a process that involves the entire country. If this is the case I find it difficult to make bitcoin a global currency ... !!

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Quote from: rodel caling on October 24, 2019, 07:46:41 PM

Be patient time has come for bitcoin become global currency, is too very you g for bitcoin become a global currency and need a lot of improvements bitcoin become global currency.
Regutation is the key for bitcoin become global currency, I heard another proposal from the gold fund proposed to the US security and exchange commission as traded. If this proposal approve by us sec possible this the start for bitcoin become global currency.

Bitcoin is still young so it will still need more improvements and developments for it to become a global currency. For now, a lot of people are still skeptical about bitcoin usage but i know in the long run, bitcoin will be acknowledge by the people because of its own potentials and benefits. Once the government starts to support bitcoin, i believe all good things will follow. Regulations might be its key to be a global currency.

rodel caling

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Be patient time has come for bitcoin become global currency, is too very you g for bitcoin become a global currency and need a lot of improvements bitcoin become global currency.
Regutation is the key for bitcoin become global currency, I heard another proposal from the gold fund proposed to the US security and exchange commission as traded. If this proposal approve by us sec possible this the start for bitcoin become global currency.

crossabdd

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one of the uniqueness of bitcoin is privacy. unknown to the owner and difficult to trace (although it still can) but transaction records remain. if bitcoin is given an ID, bitcoin will lose one of its uniqueness. and influence bitcoin. but keep calm, friend, I have read an article about altcoin which has an ID / serial number, namely KRATSCOIN (KTC) please check here http://3.0.49.178/ This is a new coin that has a serial number. but currently still in the development stage.

Oceat

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Digital currency as a global currency is not what each country like to happen. Besides, cryptocurrency doesn't work without the help of a fiat so that's why in the first place, using Bitcoin as a global currency is not yet effective.

Each country has its own use of their respective national currency as a symbol that they are independent. Besides, the problem of using cryptocurrency or digital currency is still having a huge flaw in terms of using it.

hulla

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Even if Bitcoin was created by the G7 and the institutions it will never be global currency because the government of every country in the world will never let the legacy of their national currency obsolete while they embrace global currency. Mind you, this is the reason why the G7 and the institutions are against Libra coin.
Meanwhile, having a global coin will lead to conflicts cause the rules and regulations of every country on the globe are not all the same. But Bitcoin can still be mainstream of payment.

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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?

It is hard for bitcoin to become a currency, bitcoin wasn't stable, it was extremely volatile. This is because it is not regulated by the government. Also, Bitcoin or cryptocurrencies are still at the initial phase of their journey and not yer fully adopted by the peoole and businesses. On the other hand, the adoption was still on the process, new people everyday are becoming aware about btc and trying to use it by themselves.

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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?

They already have, its called the blockchain, and wallet signature. If you want them to track you, you simply tell them which ones belong to you.

Contrary to your misbeliefs, Bitcoin is rather poor for "money laundering", as it leaves more traces; and if you voluntarily reveal it, they have complete info about your transactions.

If anything, its is people's misconceptions (such as yours) that prevents Bitcoin from achieving even more success. But the time for sensationalist media fud will fade with time, as more and more people use it and debunk those myths.

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Quote from: boyptc on October 24, 2019, 08:42:34 AM

This is like giving the cash that we have a security number but there's no way to track them. But it seems that you don't understand the point of what satoshi did on why he has created bitcoin.

You are concern for bitcoin's adoption but whether it has it or not, the gov't will always intervene to stop it.

The government will always block bitcoin from being a currency because they cannot control it unlike fiat that is fully controlled by them. So if the state refuse to accept bitcoin, then it will not be fully adopted as a global currency. But if there will be a massive adoption for bitcoin, then the government has no choice but to support it in any way.

shield132

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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?

Omg, you are so wrong. At first please can you explain to me what does global currency means for you? Do you want to see bitcoin the only currency in this world used by all of nations? I highly doubt that will happen without whole globalisation, otherwise you can use bitcoin from any place of this world to any place to send money.
Also bitcoin isn't that much safe for money laundering too, if you see a lot of people are caught recently for bitcoin money laundering and scam projects.
Also for global purposes, I think yes, altcoin will be better option, new altcoin with suited possibilities for this.

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