Once again.
There is nothing about trust to Bitcoin here. The economy of a country simply won't work with a currency, that can suddenly deflate 10% per day (or the same thing with inflation). In such conditions export of the country would be more expensive and less competitive on a global market and the economy will stop working.
Making BTC the main currency is an extremely retarded idea.
Topic: Will the Scottish people choose Bitcoin rather than a "Scottish Pound"? - page 2. (Read 313 times)
April 30, 2019, 07:50:46 AM
April 30, 2019, 07:38:38 AM
Bitcoin needs to gain trust and reputation first before countries would recognize it as a local currency. Every country's attention is more on their local currency before cryptocurrency. Bitcoin still needs to establish a strong foundation first because people aren't completely educated about what cryptocurrency is.
April 30, 2019, 07:36:17 AM
No govt in their right mind would choose a decentralized crypto as their fiat currency. People need to drop this dumb narrative that Bitcoin will someday become a national currency and will replace fiat, it's not gonna happen, ever!
As for the Scottish people, I think they'll either create their own currency or use the Euro (€). Bitcoin is out of the question.
As for the Scottish people, I think they'll either create their own currency or use the Euro (€). Bitcoin is out of the question.
April 30, 2019, 06:10:17 AM
The SNP voted to drop the British Pound after independence (they will have to win a referendum first). Will the Scottish people accept this or will they use Bitcoin?
https://cryptostar.money/blog/scots-want-to-abandon-the-pound-will-they-choose-bitcoin/
https://cryptostar.money/blog/scots-want-to-abandon-the-pound-will-they-choose-bitcoin/
I just don't think we've come to make such a choice yet. Yet cryptocurrencies are not accepted globally. In fact, it is spreading day by day, but there is a lot to come to an adequate level.
Therefore, no one needs to make a choice. However, in each country, some of the individual investments began to shift to crypto. This is especially intense in economically weak and developing countries. And I guess, Scotland is not one of them.
April 30, 2019, 06:07:00 AM
I have not read that article, but the Scotish people are the most curageous people in the world.
I have seen "Braveheart" 20 years ago, and I was very impressed with the courage of the Braveheart.
They will accept the Bitcoin, they are very curageous and very wise.
I have seen "Braveheart" 20 years ago, and I was very impressed with the courage of the Braveheart.
They will accept the Bitcoin, they are very curageous and very wise.
April 30, 2019, 05:53:45 AM
Bitcoin has been accepted yet it's not yet been adopted as a national currency because most countries see it's volatility as a risk. A well-developed country like Scotland would surely focus on its currency. Bitcoin as a replacement of a local currency needs a lot of time and might consider a lot of things in different aspects of each country's community situation.
April 30, 2019, 05:52:28 AM
The Scottish people will not option in for bitcoin as a national currency why because as a government they will design their own central currency which will be control by the central bank of the country, its ridiculous to think a country will adopt a decentralized currency as a national currency. Bitcoin is already a global currency which is use by most members of the world as a secondary currency.
April 30, 2019, 05:44:53 AM
Nah. Bitcoin being a local currency this early on is obviously going to be a huge disaster. It doesn't take a genius to realize that. Bitcoin is simply too volatile as of now, and Lightning Network isn't even ready for mass adoption yet.
April 30, 2019, 05:37:47 AM
Yeah, bitcoin is far too taboo for it to be declared as a national currency by any of the developed nations. Where it will likely happen first is with a developing nation experiencing hyperinflation. Those in developed nations have gotten spoiled by decades of relatively stable fiat currencies. However, in developing nations there is no luxury of being snotty about such matters.
April 30, 2019, 05:11:09 AM
Meh, this is ridicculus.almost all of us thinks that someday bitcoin will be very important but not now, not for scottish pound, not for any nations for now
April 30, 2019, 04:04:27 AM
The SNP voted to drop the British Pound after independence (they will have to win a referendum first). Will the Scottish people accept this or will they use Bitcoin?
https://cryptostar.money/blog/scots-want-to-abandon-the-pound-will-they-choose-bitcoin/
-- Update 1 May 2019 --
Thanks for lots of feedback. Lots of good points about currency independence and volitility. I have addressed them here.
https://cryptostar.money/blog/will-scotland-choose-bitcoin-part-an-academic-analysis/
TLDR: Small nations will often sacrifice currency independence. Bitcoin volatility will go down.
https://cryptostar.money/blog/scots-want-to-abandon-the-pound-will-they-choose-bitcoin/
-- Update 1 May 2019 --
Thanks for lots of feedback. Lots of good points about currency independence and volitility. I have addressed them here.
https://cryptostar.money/blog/will-scotland-choose-bitcoin-part-an-academic-analysis/
TLDR: Small nations will often sacrifice currency independence. Bitcoin volatility will go down.
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