Topic: would you live in a country that use bitcoin as official currency? - page 12. (Read 5273 times)
November 08, 2017, 02:03:38 AM
Being a digital currency, I would say no, due to the challenges attached to it as a result of the internet usage
November 08, 2017, 01:14:27 AM
I would live in a country that uses both the digital and fiat currency. But as for only digital currency, I don't think so; because unlike the fiat currency that has a direct access of usage at no transaction fee, the digital currency requires the use of internet which would sometimes have difficulties when you want to make a transaction.
November 08, 2017, 01:07:07 AM
I dont think i will live in country using bitcoin as a main currency, i always know bitcoin is digital currency, it is has many benefits that can rise an entire economy of a country but bitcoin is very unstable, its price can rise or drop every hour, make people in that country hard to use bitcoin buying anything.
November 08, 2017, 01:00:26 AM
would you live in a country that use bitcoin as official currency?
assume that you're living there and get paid also in bitcoin. do you think it's possible to live in a country when one day the currency go up or down in 20%?
I can't quite imagine how that would work from the economical point of view. I mean, I think that it may in a way become an isolated country, which means that the bitcoin has no real value. That a loaf of bread would almost always cost let's say 0.01btc, because it would be weird if the prices were adjusted based on all of the price fluctutations and if they were static, it could happen that an apple could cost few hundred dollars, because of price changes.assume that you're living there and get paid also in bitcoin. do you think it's possible to live in a country when one day the currency go up or down in 20%?
November 08, 2017, 12:48:44 AM
I think it's yes because there are many country accept bitcoin and to live in a country where bitcoin is official currency is a pleasure. Even though the price is volatile. But when we think the advantage of bitcoin in different transaction.
November 08, 2017, 12:26:34 AM
Living in a country that uses bitcoin as official currency would require a country with constant power supply, and internet efficient; basic and essential factors you need to make transactions possible. In absent of these, transactions becomes difficult, which would not be good in cases of emergencies.
November 08, 2017, 12:17:43 AM
it will be interesting, because every where i don't need the paper in my pocket that what we said conventional money. and i sure that in the country there was use bitcoin us official currency will have the great system of law and technology to save the society from crime
November 08, 2017, 12:00:05 AM
I say Yes if that's happen many place can be free for in internet not like here in my country a paid internet connection but to slow everytime. So maybe when bitcoin is the official currency many changes can be make to a country.
November 07, 2017, 11:55:39 PM
YES of course i like to like to live in country that uses digital currency in general as a form of payment instead of fiat or that's what i am hoping someday..
November 07, 2017, 11:49:44 PM
Yes I like to use live as legally bitcoin.
In my country I will use bitcoin freely. To permission legally use of bitcoin Need officially permission. Any country need more about secure bitcoin currency. Good try can everyone use freely and they would be rich.c
In my country I will use bitcoin freely. To permission legally use of bitcoin Need officially permission. Any country need more about secure bitcoin currency. Good try can everyone use freely and they would be rich.c
November 07, 2017, 11:16:19 PM
would you live in a country that use bitcoin as official currency?
assume that you're living there and get paid also in bitcoin. do you think it's possible to live in a country when one day the currency go up or down in 20%?
assume that you're living there and get paid also in bitcoin. do you think it's possible to live in a country when one day the currency go up or down in 20%?
I think it would be a great idea to have that country. We need fees to be a lot cheaper first though as buying things that are less than 100USD is actually more expensive to use BTC if we are going in from USD there is a fee + miner fee spending the BTC too.
We need to get rid of things like that and increase theblock size a bit so it doesn't happen(or people need to use segwit transactions more).
November 07, 2017, 11:12:02 PM
Although I am a bitcoin user and fan, but I am not interested in staying in a country that applies bitcoin as the official currency, because if a country uses bitcoin as the official currency it is very risky and dangerous for the country's stability.
November 07, 2017, 11:06:20 PM
I am living in a country where bitcoin is not that popular.
Bitcoin is a strange word for more than 50% of our population.
Those who know bitcoins think it as a internet scam or fraud.
We have bitcoin exchanges in our country but they popular only in limited cities.
It is not possible for bitcoin to replace fiat currency in day t day transactions.
Transaction in paper currency is free from transaction charges, however if bitcoin become our official currency we have to transactions charges on each trade?
In my country it is not convenient to carry internet backed mobile wallets everywhere for pity transactions.
Official status of Bitcoin for any country is possible only when it is regulated by the government of that country.
Bitcoin is a strange word for more than 50% of our population.
Those who know bitcoins think it as a internet scam or fraud.
We have bitcoin exchanges in our country but they popular only in limited cities.
It is not possible for bitcoin to replace fiat currency in day t day transactions.
Transaction in paper currency is free from transaction charges, however if bitcoin become our official currency we have to transactions charges on each trade?
In my country it is not convenient to carry internet backed mobile wallets everywhere for pity transactions.
Official status of Bitcoin for any country is possible only when it is regulated by the government of that country.
November 07, 2017, 10:43:30 PM
Would the wealthy pay transaction fees too?
November 07, 2017, 10:42:07 PM
Yes, of course. But it would be just a fantasy stucked on paper. I think it will not be implented because of hackers and scammers are present. Then, it will be a long process and debate in the govt sectors.
November 07, 2017, 10:36:09 PM
If you mean a country where bitcoin is an accepted currency, but it's also possible to use a regular one, like the US Dollar per say, then yes, I would live there, I would pay for the bare necessities with real money and buy some more expensive ones with bitcoin. If we're talking about a country where the only accepted currency for every service is bitcoin, then no. It's way too convoluted for it to become comfortable to pay with bitcoin for stuff like food, small bills, heating et cetera. If the process was a bit more straightfoward, then we could talk seriously about such a decision.
Well, we'll have trouble if the little things only need to pay with Bitcoin, unless we buy Bitcoin's worth of goods it may be very easy, but we also live in the real world that still need paper money, maybe if my country has legalized Bitcoin as well. just in use for the exchange of paper money, let's look at japan which really legalize Bitcoin for payment method and still many people need paper money for daily life, so the government want to legalize or not functioning as fixed medium of exchange. . November 07, 2017, 10:35:56 PM
would you live in a country that use bitcoin as official currency?
assume that you're living there and get paid also in bitcoin. do you think it's possible to live in a country when one day the currency go up or down in 20%?
So sad that my country banned cryptocurrencies assume that you're living there and get paid also in bitcoin. do you think it's possible to live in a country when one day the currency go up or down in 20%?
November 07, 2017, 10:25:53 PM
Maybe, Bitcoin can be used for payment in some case. But I don't think that most people will use a coin that will increase in few weeks for payment. They will prefer to store it likes an asset.
I agree with you. That is what the people will do because they don't want to lose the opportunity and they want to preserve that coin that is like the gold that its price is keep on increasing year by year and they were going to stick with the paper money or the fiat currency because that fits to their needs for the daily basis rather than losing the opportunity of something by using it like bitcoin. November 07, 2017, 09:55:25 PM
I would instantly move to this country, but unfortunately such a country doesn't exist. 
In the past the fiat money price of bitcoin has steadily increased and if you are paid in bitcoin for example since 2 years then you made a huge profit. Even if the bitcoin price goes down for 20% temporarily it's still better then the fiat money that regularly loses 10% every year. You have to see the living in such a country long-term and not short-term.
I would not mind living in a country like that if it existed but I simply do not have the money to do so, a country like that is probably going to be very expensive and I can barelly afford living in my country. In the past the fiat money price of bitcoin has steadily increased and if you are paid in bitcoin for example since 2 years then you made a huge profit. Even if the bitcoin price goes down for 20% temporarily it's still better then the fiat money that regularly loses 10% every year. You have to see the living in such a country long-term and not short-term.
November 07, 2017, 03:37:24 PM
If you mean a country where bitcoin is an accepted currency, but it's also possible to use a regular one, like the US Dollar per say, then yes, I would live there, I would pay for the bare necessities with real money and buy some more expensive ones with bitcoin. If we're talking about a country where the only accepted currency for every service is bitcoin, then no. It's way too convoluted for it to become comfortable to pay with bitcoin for stuff like food, small bills, heating et cetera. If the process was a bit more straightfoward, then we could talk seriously about such a decision.
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