Topic: would you live in a country that use bitcoin as official currency? - page 5. (Read 5273 times)
January 14, 2018, 03:37:20 AM
I live in Bangladesh, here bitcoin wouldn't use as official currency but i wish,in future bitcoin could be make our official currency.
January 14, 2018, 03:24:05 AM
I would like that but only once the price gets more stable and the high transactions fees are reduced.
The bitcoin network needs to develop a whole lot more. In the end it may be more beneficial to live in a country that uses an altcoin specifically designed for this.
The bitcoin network needs to develop a whole lot more. In the end it may be more beneficial to live in a country that uses an altcoin specifically designed for this.
January 14, 2018, 03:11:13 AM
would you live in a country that uses 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, certainly. Because it has very favorable when the price is Bitcoin ride. But if the price goes down to the loss also has a BTC but when in a country making BTC as the official currency of his development surely BTC intensified. 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%?
January 14, 2018, 03:01:02 AM
Would you like to live in a country where all the money is digital and everything you spend is public and could be seen by everyone in the world until the end of days? And if the internet is shut down then you would have no money?
This comment has a point. There's still a lot of things to consider before bitcoin will become an official currency. Bitcoin is still experimental and in developmental process as of to date. We don't know when it can become an official currency. So for now, my answer to this question will be – NO. January 14, 2018, 02:07:33 AM
Like the adage says, it is unwise to keep all eggs in one basket, we all know that bitcoin is an internet based currency, what will happen to the country and the people if the entire internet goes off? So for me, i can only visit that country but not live in it.
Uhm. Dude..
I'm sorry hahahaha I couldn't help but laugh while reading this one.
But did you say, what happens if the internet gets shut off?
Like, as a serious statement?
Impossible doesn't even begin to describe how hard it would be to do that.
But, would I live in such a country?
Well of course I would. Because if a whole country was using (I'm going to sub out Bitcoin with Crypto Currency), if a whole country was running with Crypto Currency, that would mean All goods and services are paid for, using Crypto Currency. Thus, I'm getting paid to do something and can spend that currency to buy things.
So of course I would.
I can't find any reason that would detur me from thinking otherwise. Unless every other country except my country banned the use of Crypto Currency.
Then I wouldn't be able to visit those countries.
Then again. I wouldn't want to. Because any country that bans Crypto Currency is a Fascist state and no one would want to live there.
January 14, 2018, 02:04:28 AM
Like the adage says, it is unwise to keep all eggs in one basket, we all know that bitcoin is an internet based currency, what will happen to the country and the people if the entire internet goes off? So for me, i can only visit that country but not live in it.
January 14, 2018, 02:02:59 AM
In my opinion, bitcoin to be official currency it would be hard, because we all know bitcoin price is very fluctuate. and with that fluctuate it hard to seller to place price to their product. if they place price on their product and suddenly btc price go down seller will loss but if the btc price up the consumer will consider it to expensinve.
January 14, 2018, 01:57:19 AM
nope, i would still want a gubment backing mu funds
January 14, 2018, 01:55:29 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%?
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 bitcoin becomes the official currency there may be advantages and disadvantages, we can buy goods easily using bitcoin but maybe with high cost and when the internet is dead then we can not make transactions
January 14, 2018, 01:54:34 AM
Since you said official that means bitcoin is the generally accepted currency in that country and we can pay for goods and services using bitcoin even to board ataxi and pay for a coffee, it will be nice but very expensive to use and no government will accept such cost in they economic system. Like every transaction you have to make no matter how small it is you pay high transactions fees e.g you are paying for a coffee of $5 and you pay $14 for transactions fees that will be too high to beer with as a nation. But having bitcoin as a secondary currency in a country is good and advisable asides the national currency, because bitcoin need a lot of technology which not every body can have and access it.
January 14, 2018, 01:48:31 AM
Maybe I would if I could considering these factors. First factor, is if bitcoin value gets stable. It is too much risky to live in a country where you do not have an assurance if you would get success or drop down to the worst you think could be. It is such a pleasure to live in a modern country who uses modern money. Second factor, if bitcoin security are on high chance that it would not be steal. Yes, you cannot even hold your money on your own basically you depend upon the gadget you have to save your money but the security but it is not an assurance that it is safe. So, all in all I would live to the country who uses bitcoin as their medium of transaction or all in all a currency like a real money if the factors had met.
January 14, 2018, 01:41:30 AM
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.
January 11, 2018, 12:58:04 AM
I do not expect to live in a bitcoin country, so long as bitcoin gets no restriction in my country then living in my country and hanging out with loved ones is better than having to move the country.
January 11, 2018, 12:18:41 AM
I think living in one country that uses bitcoin as official currency is difficult because the high transaction, what if the btc holding by someone is not enough because transaction fee is more than the amount of thier holding btc how could they use it? Aside from that what if the country is in crisis which the electric power is affected how do we buy our needs, its been have a lot of consequenses if its happen.
January 10, 2018, 07:42:31 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%?
If there would be country that their main currency is bitcoin I don't want to live there.
I think it's hard to live if every moves everyday you should use internet and a gadget to buy everything you need. In my opinion.
January 10, 2018, 07:39:01 PM
I do not see the BTC as an official currency. Although in a certain aspect it is literally achieving financial freedom. Without having a bank that tells you how and when to distribute your money. It would be smart for a country
January 10, 2018, 04:58:00 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%?
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%?
In such a country 1 BTC = 1 BTC always December 21, 2017, 08:50:37 AM
I will live in a country that uses bitcoin as the official currency.
It will be very beautiful.
I do not have to worry about where and how to exchange bitcoin and what currency, I go to cafes, breakfast and pay a little meat and everyone is happy. Everything is so beautiful, why not?
It will be very beautiful.
I do not have to worry about where and how to exchange bitcoin and what currency, I go to cafes, breakfast and pay a little meat and everyone is happy. Everything is so beautiful, why not?
December 21, 2017, 06:00:31 AM
Why not? It would be very wonderful, you do not have to worry about where and how to exchange bitcoin and what currency. And so well, I went to the cafe, had breakfast and paid bitcoin and everyone was happy.
December 21, 2017, 05:35:23 AM
Contrary to popular belief, it’s certainly possible to live and survive on Bitcoin alone. Do keep in mind that just because it’s possible, does not mean one should expect a comfortable life by any means. Living off the grid on cryptocurrency always requires a tradeoff where comfort is concerned.
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