Topic: Why bitcoin can not become a global currency - page 9. (Read 1932 times)
I don't think the issue of money laundering will stop bitcoin from becoming a global currency rather lack of proper cryptocurrency regulations around the world. Bitcoin is not the only currency subject to money laundering, even the fiat currencies are also used for money laundering.
Governments and economists are still confused over the fact that if BTC been used globally then what is going to happen. Some gov thinks that their reserve bank will lose control over the economy so the Gov are putting several kinds of ban over the BTC.
The other thing is BTC is still not as simple as the fiat, we need an internet connection, electricity for any kind of transaction. But it is still a tough job to provide internet and electricity 24 hours worldwide.
And the last thing is education. Is it possible for an illiterate person to use BTC ?
The other thing is BTC is still not as simple as the fiat, we need an internet connection, electricity for any kind of transaction. But it is still a tough job to provide internet and electricity 24 hours worldwide.
And the last thing is education. Is it possible for an illiterate person to use BTC ?
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 you are extremely wrong here.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?
We can make the same argument here with fiat currency. Look at cash, it's a tool that can avoid tax extremely easily, and it doesn't have tracking or anything.
We are moving to a society where being anonymous and safe is quickly become a top priority for people, and Bitcoin offers this tool to others and there proof of this with how big it's gotten these past years
anonymous is more important if you playing crypto. money laundry problem can be solve but it will cross with this anonymous. and we can manipulate something easily without problem if 'they' want.
actually people not ready to move in bitcoin as global currency.
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 you are extremely wrong here.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?
We can make the same argument here with fiat currency. Look at cash, it's a tool that can avoid tax extremely easily, and it doesn't have tracking or anything.
We are moving to a society where being anonymous and safe is quickly become a top priority for people, and Bitcoin offers this tool to others and there proof of this with how big it's gotten these past years
anonymous is more important if you playing crypto. money laundry problem can be solve but it will cross with this anonymous. and we can manipulate something easily without problem if 'they' want.
actually people not ready to move in bitcoin as global currency.
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?
It is not the money laundering that is effective on preventing Bitcoin from being a global currency. There is so many examples proving that money laundering is done by any kind of money. In my opinion, the real reason is that Bitcoin has a decentralized system and also it is too volatile. Governments won't be willing to take the risk I think.
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?
If this tracking system for bitcoin that you're saying will be implemented, I don't think the anonymity that the crypto enthusiasts loved won't make any sense at all. The anonymity is what makes it unique from other cryptocurrencies, especially from fiat. And yes, I think there won't be any chance for bitcoin to become a global currency because there are still countries that are banning the use of bitcoin, if not, trying to take it down completely. Plus the said legal issues, there would be a long list of bitcoin-related crimes. So we will be needing to compromise for we can't have the best of both worlds, it could either be the same bitcoin that people preferred due to its anonymity and decentralization but not a global currency, or bitcoin being a global currency but losing its uniqueness from other currencies in terms of privacy. 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?
First bitcoin is decentralized and has a limited supply,maybe government was thinking that the supply is insufficient for people to use as global currency. There is lot of things to consider for bitcoin to become a global currency like internet,banks, etc...Also it's difficult to replace fiat currency because it was issued by the government since then and it was already used for daily transactions anywhere at anytime. Actually if you think tracking system is the problem ,i think your wrong because before you can cash out you need to undergo kyc not only on exchange but also to the remittance where you can cash out your money from bitcoin. So if bitcoin become a global currency there is no difference like cashing out fiat money.
I think this is because the influence of the supply is too little while the number of people in the world exceeds the total supply of bitcoin so it will not be suitable if bitcoin is used as a global currency that is used by many people will certainly be a lot of price manipulation that occurs and the price of bitcoin will has a very extreme movement.
Being a global currency in my opinion is still very difficult to implement. Bitcoin prices are very volatile, volatility is also very high in the market. But it is possible that bitcoin will be used as a payment system in all countries without government knowledge. Because of its anonymous status, bitcoin users can make payment transactions wherever they like and for any purpose as far as getting the agreement of both parties. In my opinion, so far the governments in many countries impose a bitcoin regulation that cannot be used as a payment system and can only be used as a trading asset on the commodity market. As far as I know, the government is afraid that bitcoin will function as a medium for money laundering and financing terrorism and many other crimes. 
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?
Money laundering and other financial problems are a serious thing, of course, but I feel like they are only an excuse that is given to us to delay the acceptance of cryptocurrencies for as long as possible. Think about it — these issues were a part of the financial world long before cryptos were invented, and fiat currencies worked just fine for criminals. Meanwhile, if crypto gets adopted, banks will be left without clients, as they are no longer needed. Some people will remain, sure, but they will still lose billions, even trillions of dollars. That's what's stopping crypto adoption, and not money laundering.
I think this is because the influence of the supply is too little while the number of people in the world exceeds the total supply of bitcoin so it will not be suitable if bitcoin is used as a global currency that is used by many people will certainly be a lot of price manipulation that occurs and the price of bitcoin will has a very extreme movement.
Here's my 4 check points for Bitcoin, or some crypto, to become globally endorsed:
1. More businesses accept it as a form of payment.
2. Software becomes more intuitive and user-friendly.
3. People realise the benefits of using it (https://coinpush.io/blog/the-benefits-of-cryptocurrency)
4. Fiat destabilises - due to inflation, corruption or political circumstances.
1. More businesses accept it as a form of payment.
2. Software becomes more intuitive and user-friendly.
3. People realise the benefits of using it (https://coinpush.io/blog/the-benefits-of-cryptocurrency)
4. Fiat destabilises - due to inflation, corruption or political circumstances.
In fact, I see no reason why bitcoin should not become a world currency. It doesn't happen precisely because some people interfere with it.
bitcoin will never be a global currency even though every wallet must have an identity. Why? because the value of bitcoin is volatile so it is not suitable as a currency the bitcoin community believes that bitcoin is a digital asset like gold not as payment.
Bitcoin is versatile, it can be use as a currency and as an asset as the same time. However, just like you have mentioned it is not perfect of currency due to high volatility rate hence, it is much better it as asset. Bitcoin is good at long term investment and we can classify it by just looking back on its history.Cryptocurrencies especially Bitcoin cannot be global currency due to reason of decentralization which limit the government to manipulate this technology.
bitcoin will never be a global currency even though every wallet must have an identity. Why? because the value of bitcoin is volatile so it is not suitable as a currency the bitcoin community believes that bitcoin is a digital asset like gold not as payment.
There are actually so many hindrances for bitcoin to become a global currency as you are wishing for.
First, it is centralized and doesn't control by any institutions like governments and banks.
Second, it has high volatility characteristics.
Third, not all country accept bitcoin legally. A high chance that it is impossible for it to become global currency.
I don't really understand what ID's are you talking about when it comes to btc or even in btc transactions. That's why it is anonymous it's because we just relying with the btc address itself.
First, it is centralized and doesn't control by any institutions like governments and banks.
Second, it has high volatility characteristics.
Third, not all country accept bitcoin legally. A high chance that it is impossible for it to become global currency.
I don't really understand what ID's are you talking about when it comes to btc or even in btc transactions. That's why it is anonymous it's because we just relying with the btc address itself.
Even with or without anonymity, bitcoin is still far from being a global currency. Why? Because it is decentralized, it would be hard for the government to control its flow in their country if every one in the world uses bitcoin. I see bitcoin as an alternative currency which can be used globally but not as the main currency. Not only with that, there are other factors that need to be considered why it'll be hard for bitcoin to be a global currency.
About money laudering, it's an advantage for the criminal since it'll be hard to locate them. But just like with fiat, money laundering are still everywhere.
When a cryptocurrency falls under the jurisdiction of world banks or bankers, then it is possible and will be the new world currency. So far, cryptocurrency does not show significant success in increasing its capitalization. About money laudering, it's an advantage for the criminal since it'll be hard to locate them. But just like with fiat, money laundering are still everywhere.
Even with or without anonymity, bitcoin is still far from being a global currency. Why? Because it is decentralized, it would be hard for the government to control its flow in their country if every one in the world uses bitcoin. I see bitcoin as an alternative currency which can be used globally but not as the main currency. Not only with that, there are other factors that need to be considered why it'll be hard for bitcoin to be a global currency.
About money laudering, it's an advantage for the criminal since it'll be hard to locate them. But just like with fiat, money laundering are still everywhere.
About money laudering, it's an advantage for the criminal since it'll be hard to locate them. But just like with fiat, money laundering are still everywhere.
The main problem will be taxes I guess. It is very easy to avoid taxes by using bitcoin
Taxes is not a big issues, because first all the countries are accepting the Bitcoin and they analyse the further process of globalization. Normally every countries have different set of regulation is follow the Bitcoin so it will possible in future but it takes some time.I hope 2025 it will possible because many countries are slowly understand the Bitcoin potential and security so it takes 5 to 10 years on entire world.
The main problem will be taxes I guess. It is very easy to avoid taxes by using bitcoin
Bitcoin is bitcoin, with a decentralized system, independent, not controlled by any association or government. Although it does not become a global currency, bitcoin goes beyond that with all the ease of access to transactions from one country to another, from one place to another, without space and time restrictions. Although in some countries it is prohibited and restricted to use, bitcoin can still make new records that were unexpected before.
Even if someday there is altcoin that is recognized globally, of course it is a good progress, meaning that cryptocurrency is truly recognized and benefits can be felt by anyone for more complex activities. And bitcoin will still exist with its own strong ecosystem niche.
Even if someday there is altcoin that is recognized globally, of course it is a good progress, meaning that cryptocurrency is truly recognized and benefits can be felt by anyone for more complex activities. And bitcoin will still exist with its own strong ecosystem niche.
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