would you live in a country that use bitcoin as official currency? - page 22.

zekeshawn

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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%?

Yes I would I think it would be cool and the experience would be very awesome. And I think that there is a possibility for it to happen since we are now starting the era that most of the transaction are made online. Though the downside is bitcoin price is very volatile so you have to be very careful in spending your bitcoin.

DoublerHunter

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Of course, i will live in a country that uses bitcoin as an official currency because my life will become more easier because i can use bitcoin to buy things and pay all the things that i will buy or use and that is only with use of my smartphone that has bitcoin in it and it is very convenient because i don't need to bring a thick wallet to just be ready for paying things up.

raymart0720

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if that will happen it will limit us to what are we doing right now imagine if you have BTC in your wallet and to earn that is not that simple unless you are miner

it will be difficult also to live there it is good that we have cash paper money and cryptos as well

Mayora143

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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%?

Yes, because a country that has legalized and used bitcoin as an official currency would be no doubt wealthy and a person will not undergo the hardest of work to earn money in the form of bitcoin. One would only need to participate online or do tasks required to acquire bitcoin. The value of bitcoin may go up or down but if a country is using it as the currency, the country would surely have a lot of marketplace with varying bitcoin values and a citizen of that country will have many options or choices to where he/she will exchange his/her bitcoin for greater value of payout.

ZaoXhou

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Who on bitcointalk wouldn't like this Grin

But imagine all the hacks and scams going mainstream.

darkangel11

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Don't let others control your BTC -> self custody

Quote from: Baby Dragon on September 19, 2017, 04:15:26 PM

Quote from: jsscswan on September 19, 2017, 08:15:17 AM

I don't want, we'll see the value of bitcoin is not stable, it is less efficient in my opinion if the official currency of a country. It could be that countries that apply bitcoin as the official currency will experience inflation from all sectors.

Well, I do not want also because we all know that the price bitcoin is volatile and any time it would change. In addition to that, I think bitcoin as currency is a also nice idea but we all know that price of bitcoin is not stable and I think it will accept as currency but not official currency.

Volatility isn't totally a bad thing. It depends how you look at it. You can lose if the price goes down, but you can also gain if it goes up.
That said, I'd like to try living in a bitcoin based economy, even if only for a little while. Maybe somebody should turn a small town into a 100% bitcoin operated, just to see how it goes. I bet it would be popular among tech freaks like me.

Baby Dragon

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Quote from: jsscswan on September 19, 2017, 08:15:17 AM

I don't want, we'll see the value of bitcoin is not stable, it is less efficient in my opinion if the official currency of a country. It could be that countries that apply bitcoin as the official currency will experience inflation from all sectors.

Well, I do not want also because we all know that the price bitcoin is volatile and any time it would change. In addition to that, I think bitcoin as currency is a also nice idea but we all know that price of bitcoin is not stable and I think it will accept as currency but not official currency.

brickafterbrickwalldpt

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A country with bitcoin as it's official currency is a concept that's not currently ready for the current world, as the demand for the currency would skyrocket, and it would require a few kinks to be worked out to make it convinient to use it for everday routines. Maybe in the future, but not now.

natka

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I can not answer this question because the country has not yet officially announced the implementation of Bitcoin, but at the same time, the statement that national crypto currency can be created, as well as some online stores offer to use Bitcoin. This of course makes me happy.

affigne

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I don't think so... volatility is a critical factor when considering relying solely on cryptocurrencies...

syntac

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I do not think any country wants to use bitcoin as the official currency because of the unstable bitcoin value. I also do not want to live in a country that applies bitcoin as the official currency, it's too risk and vulnerable to hacker attacks.

adChain

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At present time, No. It's too volatile and if a country were to adopt the currency the difficulty problem would likely become so hard that the CPU power required would be incredibly environmentally destructive.

pixie85

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Quote from: ennovy22 on September 19, 2017, 10:31:59 AM

My answer is No. I don't think it's a good way to use bitcoin as official currency. Maybe in other countries could be, but for us no. In terms of securing the money is good because it can't get robbed and it is easily earned but do you think everyone can make bitcoin accounts? how about a poor country that can't have mobile phones, tablets and wifi? Yes it might happen when the future comes but for me I won't live in a country that use bitcoin as official currency.

The question wasn't if there's a way to use it as an official currency but if YOU would choose to live in a country that does it.
I would because it would've been fun to be able to transact in Bitcoin every day. To live in a country that doesn't give a damn about the world banking system and is so innovative to break free from them.

BingoDog

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I love bitcoins but I wouldn't. Bitcoin can't be limited exclusively to just one country as official currency and I think that wouldn't work. Bitcoin is not designed as classic currency and it couldn't support any economy to normaly function so that country couldn't survive.

pitiflin

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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%?

Obviously not , I will not change from country to country just because bitcoin will be official in that country. My country doesn't has any issues with bitcoin, so I am not gonna change my citizenship for that sole purpose. And it would be really hard to survive in an economy which will never be stable, cause who knows one minute you have a big profit and the next minute you are in a loss.

googlebtc

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It seems interesting to live in a country that uses bitcoin as the official currency but are you sure you want to live there with an uncertain life with a currency that sometimes goes up or down and there is no certainty, for me no, because bitcoin is just a crypto currency digital, and in every country there are still many who can not accept bitcoin as their official currency

harmunian

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Even if it is difficult, I would say that it is not a bad idea if there was taxation in each transaction.

jatin729

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NO, In india we can't use bitcoin as payment of expenses yet like electricity bill, But it is use for mobile recharge.
otherwise we can convert it into cash anytime with exchange, and pay expenses with fiat money,

lalabotax

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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%?

unimaginable. I dont imagine what you say, sir. so I can not say what I think. because it happens only in fairy tales only.

ihsanskanzaone

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of course I want to live in a country that impose bitcoin as currency
because not all people have atm card but in almost all society almost
all have smartphones so that most people can make transaction easier
and efficient as well as a means of wealth investment.

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