Why bitcoin can not become a global currency - page 8.

cotton ball

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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?

Bitcoin not become global currency because many people do not know with bitcoin, they can't use bitcoin for transaction or sent to other wallet. How to use bitcoin and what for using bitcoin still do not understand by many people, they less information about bitcoin as transaction and become currencies for sending and receiving using bitcoin.

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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.

Just not that, he is also not clear about the concept of cryptocurrency.
See here:

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

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 not possible to create cryptocurrency with tracking system as the architecture on which it works i.e. blockchain and it is not possible to broadcast sender's detail on blockchain along with coins. This is only possible if coin is used within a specific ecosystem - for example, sending from Coinbase account to Coinbase account through email address. But that's not cryptocurrency, it is just digital representation of cryptocurrency.

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

Hi, Gents,

But most important of all, you are addressing only males. That is not fair! Cheesy

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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.
-snip-

If we alter anything in the bitcoin system, it won't be the same bitcoin that we are using. Again, if we start adding IDs to the wallet and keep tracking everything, then we no longer follow the main goal of bitcoin. No more privacy or financial freedom. There won't be any difference between using bitcoin and paypal. Remember, too many restriction is never a good thing. Nothing is preventing bitcoin from being a global currency. And if you didn't know, it is already a global currency.

boyptc

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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.

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Quote from: Ashong Salonga on October 24, 2019, 07:29:10 AM

One of the reasons why bitcoin cannot become a global currency because it is not recommended by government officials. Some countries are banning it because they do not have the power to handle it. Thus, if government do not accept it, people cannot use it officially.

That is why they need to pursue the regulations process in order to regulate crypto and from then, they can control the entire crypto market. But they have failed already, crypto holders never think that it will be the solution of scamming and illegalities happen around with crypto.

Bitcoin's development still going on, it may be the adoption aren't enough for the goverment to reconsider and gives support to us. But we can't just be hopeless, the time will come that they'll open up their mind and could appreciate the importance of Bitcoin to us now.

crisanto01

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Quote from: Eclipse26 on October 24, 2019, 05:03:04 AM

If bitcoin will never be the global currency, then what more for altcoin? Bitcoin is dominating in the market. If tracking system were to be made, what's the point of anonymity? With tracking system, others can track everything.
If it'll be the global currency with tracking device, it will be more likely to be somehow centralized. The government can track every transaction

Aside from that if people would like it to be a global currency, there's a lot of things to be considered just like the unity of all countries, if they will allow it or not. A lot of meetings, regulations, promotions, protest that will happen if we will impel this to our government.

Wintersoldier

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Quote from: Ashong Salonga on October 24, 2019, 07:29:10 AM

One of the reasons why bitcoin cannot become a global currency because it is not recommended by government officials. Some countries are banning it because they do not have the power to handle it. Thus, if government do not accept it, people cannot use it officially.

This is indeed a fact but I want to add more reasons why. In almost all country, we government embed taxes to help the nation grow since we need budget for infrastructure and projects. In this case, since bitcoin is decentralize, we need a way to make it possible. So far, I haven't seen any crypto that provides the function of utilization of taxes so government can still have control over the country.

Ashong Salonga

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One of the reasons why bitcoin cannot become a global currency because it is not recommended by government officials. Some countries are banning it because they do not have the power to handle it. Thus, if government do not accept it, people cannot use it officially.

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If bitcoin will never be the global currency, then what more for altcoin? Bitcoin is dominating in the market. If tracking system were to be made, what's the point of anonymity? With tracking system, others can track everything.
If it'll be the global currency with tracking device, it will be more likely to be somehow centralized. The government can track every transaction

Chris Barth

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Firstly, you're question seems to be directed to only "gents"... We've got ladies here... Lol

About what you said, I don't think bitcoin can be tracked. However, there has always been a way around everything, so, I won't be surprised if they find a way to do it. However, even if it can be tracked, I think it'll be a very stressful thing to do.

ashmodeus

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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 based your mind right ?
and well,that really different with creator mind.
basicaly, satoshi just want this be simple. no need regulation , no need such as u say.
and i am really sure , satoshi doesn't want btc to be global currency

DabsPoorVersion

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Quote from: Aying on October 23, 2019, 12:19:26 AM

Quote from: cotton ball on October 23, 2019, 12:12:37 AM

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?

Bitcoin can not become global currency because many country not ready support with bitcoin as transaction payment, many country still use traditional market where payment transaction only accepted cash money, they do not know how to use bitcoin as currencies payment. Need to evaluation and give instruction for many people how to use bitcoin as legal payment before make bitcoin become public transaction payment.

And an addition to that government still not control bitcoin as their own currency like fiat. how they propose it to their people if they didn't own it. also, a lot of people in local area is still not using gadgets same to us. so its so very difficult to the government support bitcoin or crypto currency as the main payment method everywhere.

The government doesn't need to propose bitcoin to their local netizen, and it is impossible for now to make bitcoin as their global currency.
Bitcoin can easily be adapted by the local netizen of a certain country if ever that it was legally accepted. There is no need to propose it to them since we all know that in every country in the world, there is a bitcoin user.

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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?

This is like saying that owners of physical gold need to have an id. Naturally most of them do when they try to convert it to fiat, and they probably need to show some transactions on how they came up with it when there are large enough amounts of it in order to prove it's not from illegal activity. That doesn't mean gold itself is illegal.

The open ledger is already more trackable then anything else in the history of man and it will probably we even more connected to ids in the future. And there will be more solutions trying to hide and wash transactions. I think that this will be a battle that keeps on happening and there's no solution to it, like with gold or any other commodity.

But i think, because the nature of bitcoin, regulators have to adjust to it, rather then bitcoin adjusting to anything.

SummerBliss

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There are problems related with every currency and money laundering is also present in usage of fiat so we cant blame bitcoin for such activities as criminals who conduct such crimes are responsible for such acts.The governments do not favour btc because of untraceable transactions and being decentralized currency they have no control over them and they will never regulate currency which cannot be controlled.So its hard for btc to become a global currency but still there are chances when volatility reduces and blockchain technology is adopted by governments these coins can be exchanged or act as a medium of payment in legal system of nation.

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Quote from: cotton ball on October 23, 2019, 12:12:37 AM

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?

Bitcoin can not become global currency because many country not ready support with bitcoin as transaction payment, many country still use traditional market where payment transaction only accepted cash money, they do not know how to use bitcoin as currencies payment. Need to evaluation and give instruction for many people how to use bitcoin as legal payment before make bitcoin become public transaction payment.

And an addition to that government still not control bitcoin as their own currency like fiat. how they propose it to their people if they didn't own it. also, a lot of people in local area is still not using gadgets same to us. so its so very difficult to the government support bitcoin or crypto currency as the main payment method everywhere.

cotton ball

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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?

Bitcoin can not become global currency because many country not ready support with bitcoin as transaction payment, many country still use traditional market where payment transaction only accepted cash money, they do not know how to use bitcoin as currencies payment. Need to evaluation and give instruction for many people how to use bitcoin as legal payment before make bitcoin become public transaction payment.

Kambal2000

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Quote from: n0ne on October 22, 2019, 04:30:31 PM

Quote from: Expecto on October 22, 2019, 03:24:14 PM

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?

Governments do not lean towards making a cryptocurrency as their local currency and I don't think it will change in the future either. I think governments won't prefer Bitcoin instead of fiat money because of its volatile nature.

Most of the governments that are against bitcoin used to mention the volatility as the big issue to stop bitcoin growing as a global currency. Already it is a global currency, but few countries use it while majority unites

They are against because of many reasons, they cannot control it, they don't know how are they going to regulate it yet, how to imposed tax and many other things, besides that, a lot of people and countries who doesn't access or don't know how to access internet yet, or don't have even a cellphone, so it will be hard for them.

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Quote from: Expecto on October 22, 2019, 03:24:14 PM

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?

Governments do not lean towards making a cryptocurrency as their local currency and I don't think it will change in the future either. I think governments won't prefer Bitcoin instead of fiat money because of its volatile nature.

Most of the governments that are against bitcoin used to mention the volatility as the big issue to stop bitcoin growing as a global currency. Already it is a global currency, but few countries use it while majority unites

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It's very volatile. That would never make it a real currency. It can be an asset. But never a currency to price tag with.

Expecto

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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?

Governments do not lean towards making a cryptocurrency as their local currency and I don't think it will change in the future either. I think governments won't prefer Bitcoin instead of fiat money because of its volatile nature.

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