would you live in a country that use bitcoin as official currency? - page 16.

judaspriest

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Quote from: CrypTrends on September 19, 2017, 06:11:25 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 don't want to, because it is too risky, when the advantage approaches us is very good, if the opposite happens, it will make you fall poor on a black hole. and what you say will never happen.

Merovius

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This would be pretty funny actually, if by official currency we mean a regular national currency that is used within a country to settle debts and trades. Overall it would definitely increase the purchasing power and savings of whoever held money in that country since bitcoin has so far increased in value over the long term, albeit with significant fluctuations. I suspect that it could wreak havoc with international trade, however, because importers and exporters in such a country might be hesitant to immediately settle trades when the value of their goods could rise or fall significantly within a few days simply due to volatility in the exchange rates of their currency versus the other national currencies of their trading partners.

StonedWolf

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Unfortunately in my country only a minority of people knows what is the bitcoin, to do this I can not even imagine this paradise life.
Otherwise, you're right in the fact that a curruncy of a country can not have a pretty unstable value like the bitcoin, to vary by 20% in a single day, but I think the bitcoin experts will find a solution .

Marjo04

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I think bitcoin is imposible to be official currency in any country.we cant use it in daily expences or anywhere we go we can pay bitcoin.although we can convert it in our currency already and pay our bills or cash out.

EddyGameta

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It’s possible that Bitcoin system has made it easier for daily use, on a large scale and reduced or eliminated fees due to the government's validation process, but it must also be accompanied by adequated infrastructure support and readiness of people to face a new issue. But if we talk about infrastructure, must be not separated from the tax, well if bitcoin is applied where the government will get taxes from? Is it from fee mining?

nejibens

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No, in my country Bitcoin isn't yet legalized or official currency, but so many people (especially the ppl interested about working online) earn it here in my country.

I think very little number of countries legalized Bitcoin until now.

BITDV

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I don’t think I would want to live in a country that use Bitcoin as an official currency, because of many factors especially Bitcoin is digital currency, what if electricity in your area go down, will you move to another city just to buy some foods when you are starving?

xBitHodler

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I wouldn't like to live in a such country, not yet. I think it's still too early. I really like spending Bitcoin using my phone but hardly any shop in my area accepts Bitcoin as a payment. Bitcoin still needs to be developed. We need more transactions per second. Also, we need to teach more people how does this technology work. It would prevent situations like "Someone stole my money" or "I can't chargeback!". They have to be aware how does this system works.

Phildo

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I think making bitcoin or crypto-currency as the official currency is a bad thing, because the government can use it to monitor every transaction of its people, isn’t we have right to privacy for what we do?

Colt81

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Quote from: nelmari on September 19, 2017, 10:48:30 AM

Yes of course I would live in a country that use bitcoin as an official currency; it would help me to pay my bills, do groceries and even have some left with my salary to buy things I really need and some for savings. Why not and who wouldn't want that kind of life? I think less would be poor by then if that will really happen in a country, everyone would get to afford things they need daily but just as long as they work hard for it too.

I think I would also live in a country where bitcoin was officially legalized and currency. In addition to that, I think it is quite convinient and we all know that it is very easy to use and bitcoin become official currency you can easily pay all your payment like paying bills and many more.

Gilliam

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Quote from: CrypTrends on September 19, 2017, 06:11:25 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 money so yeah I will lived as long as I can used it on many ways there.

Lintel

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Quote from: CrypTrends on September 19, 2017, 06:11:25 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 don't think it will happen anyway because bitcoin has a higher value compare to our currency, I can't imagine what will happen if it would become a currency of one country. If it will happen maybe all countries are doing the same. I can't picture it out really. It's hard. I would rather prefer to be just like now as a cryptocurrency that helps us financially.

sheldonnnn

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I would. Because now it turns out that I have Bitcoin but I do not have real money that can be used. Because the restaurants and shops in my country do not accept Bitcoin. I believe that in the future it will change and bitcoin will be legalized.But on the other hand, there are some disadvantages of this. Because if Bitcoin will be the official currency, then the government will be able to control it and introduce taxes.

Best Dreams

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Quote from: Shinigami78 on October 01, 2017, 09:45:09 AM

whether that might be the case, btc is a virtual currency that each meni can change depending on the exchange rate, the country will be difficult to set up a fluctuating payment system at any time.

Yes I also want to stay in such a country where bitcoin is available anywhere because in my country it work but not in other part of country and a place where I live its work there if I want to buy anything in any shop I can use it easily event it help me college fees also last week I use bitcoin in restaurant as well it really give me big benefit.

Lamisa asfiya

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No,my country don't use bitcoin as official currency.official currency means that,daily expense with bitcoin and paying payment every day activities. but no.in my country we can't do that with bitcoin.

donGeilo

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This is a dream of every bitcoin user to live in a country that use bitcoin as official currency . The payments will be made by using bitcoins . There will be no tactics of banks and so on . But this is not possible because of many reasons . Bitcoin is highly volatile , its prices goes up and down with in a fraction of hours . There are many spams associated with bitcoins . All this will really affect a country's economy . That is why making bitcoin an official currency is a decision which will never be taken by any country's government.

kingragnar

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for me. I will not stay in a country where the official currency is bitcoin. Because for me many people will complain about the fee they are supposed to transact with bitcoin to pay for something you can buy at a mall or at a department store. for me it's not good for bitcoin users.maybe this is the reason why bitcoin breaks down. This is my only point of view brothers.

rasmadisulaiman

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Although bitcoin is very profitable and high value, I am not interested in living in a country that uses bitcoin as the official currency. It's too risky because bitcoin is the currency that requires internet connection, I'm afraid if the state that applies bitcoin as the official money is attacked by hackers and all the bitcoin stolen from the country. It was a nightmare.

Naughtis

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Quote from: DoublerHunter on September 30, 2017, 10:33:32 PM

Quote from: dylanc on September 30, 2017, 07:48:32 PM

Quote from: CrypTrends on September 19, 2017, 06:11:25 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 don't see any reason why not. If you're uncomfortable with the volatility in value, you can always convert and keep your assets in USD, for example, or any other currency.

Yes, why not. It is a beautiful country if they will are accepting bitcoin only because that is why we are working here in bitcoin because we want something good from it and that is to use it on buying things and if we are patience enough, we can have a lot of bitcoins where we can fully use in a country that accept bitcoin.

It was really amazing if my country would adopt bitcoin as currency, it could be a sign that my country was finally improving its economy. But sad to say it is hard to implement, especially when people are still not accepting or they still didnt notice the use or benefits of bitcoin.
Well, back to the topic, living in a country that uses bitcoin as currency I think it would be good. At least you wouldn't carry your money in cash, you will have assurance that it wouldn't get snatch or holdup.

webmastax

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It's amazing to use bitcoin anywhere but i don't think bitcoin is ready to be official currency for any country because of its high volatility.

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