would you live in a country that use bitcoin as official currency? - page 14.

megynacuna

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Quote from: BingoDog on November 05, 2017, 04:01:41 AM

This is just a hypothetic question because in real life this wouldn't be possible but no, I wouldn't. Bitcoin isn't a type of currency that you can build economy on, especialy not the stable one. This would be a disaster. That is the main reason, not the fees, transactions time and taxes. But I don't believe that bitcoin was ever ment to be as official currency in any country in the world and that wouldn't be good for bitcoin at all.

I think they can adopt bitcoin and add it to the local fiat and should be fine together rather than have bitcoin as the main currency because controlling it will be difficult since it is not centralized and so inflation and other macro economic principles cannot be regulated to suite the livelihood of the local people.

BingoDog

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This is just a hypothetic question because in real life this wouldn't be possible but no, I wouldn't. Bitcoin isn't a type of currency that you can build economy on, especialy not the stable one. This would be a disaster. That is the main reason, not the fees, transactions time and taxes. But I don't believe that bitcoin was ever ment to be as official currency in any country in the world and that wouldn't be good for bitcoin at all.

kucritt

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is all place in the country use bitcoin as the payment maybe i will join that country, we don't afraid about the bitcoin price will go down and go up. and then the price of bitcoin will stable than now because people in that country use bitcoin as the payment, so the price in international will stable

darkywis

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Quote from: CrypTrends on September 19, 2017, 05:11:25 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%?

No, I won't live a country that uses bitcoin as their local currency because you pay fees and you wait for the transaction. And how can the government will maintain the country if there is no taxes to pay?

yndye

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Quote from: CrypTrends on September 19, 2017, 05:11:25 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%?

If I am paid in bitcoin and be able to spend in bitcoin then I wouldn't be affected much by the fluctuating prices because the fluctuations are in fiat price. If I don't have any other option but bitcoin then I can live with that. It would still be normal like how I am using fiat now. The transaction fee in the network is the taxes. The consideration is that I can't be disconnected to the internet because I can't have transactions then if I don't have access to the network.

arlinxoha

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My country Bitcoin is not valid. The government of my country forbids citizens to use Bitcoin. Even the law is frightened. So very few people use Bitcoin in my country. My country's central bank has not yet approved the Bitcoin. But I hope that Bitcoin will be valid in my country very soon. And of course we will use bitcoin as official currency.

Dava.Dina

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Maybe if in the future all transactions will be digital currency.
then I would say that I would love to live in a country where Cryptocurrency is used as the official currency not only because of Bitcoin.

because Bitcoin is not yet stable to be used as the only currency.
I want to use Bitcoin as a currency if they receive everywhere.

teejayrichard2

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No I won't live in a country that uses bitcoin as official currency as this will require regular transaction fee and I have to be online to make payment each time. This is a big disadvantage as it will affect those who are not exposed to the technology world and don't fully understand crypto currency

MoonJeina

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This a dream of every bitcoin user , investor and trader . The headache of changing their bitcoin into fiat currency will go and they will be able to pay their bills , shop and eat by directly using their bitcoins . Every bitcoin user would love to live in such country . The questions raised by banks on the high transactions will not be a reason to worry for them if bitcoin gets legalized.

qwertyup23

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Quote from: CrypTrends on September 19, 2017, 05:11:25 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%?

Should there be a country that uses bitcoin as the main exchange for services or products, I would probably leave that country and transfer to another due to various reasons. First, bitcoin itself is very volatile and decentralized in nature. Meaning, its price varies ever single minute and this might result to a change on the prices of goods every now and then without sudden notice. Second, in the event that bitcoin value's falls, then I guess that massive inflation would likely be the case on that country. Lastly, payments being digitalized will always be subject to hacking and scamming which would tarnish its name on the long-run.

FJNuñez

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I would live in a country that uses Bitcoin as an official currency only if they do not tax it. Instead they teach people how to buy them so organizations in the country can decide what they want to do with Bitcoin now and in the future.

Wulanayu

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I think so, because bitcoin the price is unstable can go up and down sometimes very high but the tour is also not severe once we can take advantage of this moment.the time high bitcoin price we can buy whatever we want and menyetok many personal needs.and at plummet we save first, waiting for the price to rise again Grin

LogitechMouse

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I think it will be good to live in a country that has bitcoin as the official currency but at present, I think I will not live in that country because bitcoin hasn't been used in the world or by many people.

nativevideobox

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I think bitcoin is not stable enough for using it as official currency. I would like to see how such a country will function. It's hard to imagine now.

jagdeepjd

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I would say i will love to stay in that country where cryptocurrency is used as official currency not bitcoin only because bitcoin is not yet stable to be used as a sole currency.

Also the other factors like internet if we dont have internet we wont be able to use it. so there is a lot of improvement innovations required to make digital currency as a sole currency.

NightCloudz07

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Quote from: CrypTrends on September 19, 2017, 05:11:25 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%?

yes i live in a country if have a bitcoin

uzumaki

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Quote from: CrypTrends on September 19, 2017, 05:11:25 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%?

Bitcoin is a criptocurrency that available only 21 million in the world it's very limit when many people looking for bitcoin so the price is fluctuative.
this is difficult to happen if we want to buy an item with a currency that fluctuative value we can not ensure the price of the goods. the price will be change every moment.

Prodigan786

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I don’t think so bitcoin currently highly volatile currency while China ban bitcoin price was 3000 now 6000 so because of this volatility normal people can’t sable to understand value of bitcoin while they really spending or getting the salary.

Wicked17

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Quote from: CrypTrends on September 19, 2017, 05:11:25 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 think it will not be possible that bitcoin will be the main currency of a certain country. There are so many disadvantages you will face when it is the main currency use. Every transaction you had made cost fee of 2$ minimum. Is it ok to you when you are only buying a candy? Its better if physical fiat will still be the main currency.

wagi

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Quote from: CrypTrends on September 19, 2017, 05:11:25 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 would be pleasure if can stay in such kind of country.
But i would be more pleasure if my country is like that. Hope it can be realize in my country.

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