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I think it's main vision is to be the most globally recognized, accepted and commonly used currency in the world between every country with it's own banking system so countries can use Bitcoin to do transactions for international purposes without giving the authority of managing them to a centralized organization for better trust and transparency
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Yest I believe it will help business to improve and develop rapidly and many organizations have understand that too because today there is a trend among many organizations to merge there businesses with a crypto related decentralized ecosystem and many companies focuses on making there core business to rely upon blockchain based systems to do transaction using cryptocurrencies for better security and convenience as an example : shipping industry - Today there are many ecosystems that has introduced by leading shipping business related companies by focusing on many areas in shipping processes so yeah Cryptocurrency can definitely help you if you want your business to grow without any financial barriers and to attract customers from all over the world
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According to my understanding Yes I think it can happen in the future because unlike other currencies bitcoin releases a certain amount per a period of time so if the demand increases rapidly in the near future due to it's low supply that can happen
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Yes that is true and many countries are aware of that matter that is why developed countries like Switzerland and Belgium are making bold moves to accept crypto currencies in to there financial systems which definitely provide better advantages and benefits to them over other countries
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I think you hope to know what are the business areas bitcoin is focused to use on ? if yes I think there is no one specific business area that bitcoin will restricted to use because it's build intention was to make bitcoin a globally recognized currency that bitcoin holders will able to use it for any electronic payment from purchasing goods or services to every essential payment so I think there is no limited targeted market for bitcoin
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Main reason is they have no control over it like fiat currencies and no way to trace any transaction which makes them help less when understanding there citizens true income, transaction, wealth to calculate taxes and other essential things. Those are the main reasons that governments doesn't like bitcoin but banks do not like because with bitcoin there will be no future for them just think if every person decides to use bitcoin as there transaction and saving method what income will banks gain ? none. So I think these are the main reasons and there maybe more
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I think it is too early to say that because still the world becoming to understand what this new currency is and bitcoin has gained many attraction from software companies, Investors, and other organization to use bitcoin as a payment option so it is expanding even now so I think it will be really recognized in the near future than today
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according to my understanding it has nothing to do with the core objectives of bitcoin as a currency but the problem and the issue is made by people who use it. I think it is the human nature some people use the bitcoin blockchain technology to do better and good things while some percentage use it for bad so if a country is going to ban bitcoin for such matters it is because lack of understanding. As a community we can only educate the world regarding the vision and potential of bitcoin for people to understand that this is build to do better and good things
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Well Bitcoin as a currency is build to be fail safe by design to allow user's to do transactions without any issues or worrying but the problem is platforms and exchanges that we are using to do them are not perfect so we are vulnerable to hackers and other criminals. which is not a problem with bitcoin at all it is doing fine considering it's design purpose so we may need to be more care full when using third party services which will help to avoid such issues
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There are many reasons why that happened but not one such as, Government restrictions in major countries like United States, India which has led bitcoin Investors and holders into a difficult situation to think it will not have a significant future and the other reason is lack of practical use in the current world because even bitcoin has become a great investing subject the world still doesn't use it for common transactions which makes bitcoin useless in the real financial world. But this will soon change because there is a positive hope due to technical advancements and attraction of potential industries to use bitcoin for electronic transaction for better convenience and security.
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It depends how closer bitcoin will get to people in the near future and become useful as a globally recognized currency that can use in day to day life for better and effective transactions if not there is a high possibility other coins may beat bitcoin because every day we see new technologically advanced currencies are introduced by promising more services and more usability in the crypto world
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I think if bitcoin needs to continue it's position and expand further it should be used according to it's vision that it was introduced in the first place to be a globally recognized currency not just a major trading asset. We should give it more purpose to make it useful for day to day life that allow it to interact with the real world for better effective transactions.
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Yes I agree because unlike share market or the Forex market I have seen huge cryptocurrency price variations happen for no reason or mainly because of the people perception or attitude at that moment regarding the currency and because still cryptocurrency is new holders tends to hesitate quickly and sell there assets by making market and there financial status at risk so a good potential investor in the crypto world should able to take risks for some extend and also must be patience
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Because it is the best way to launder money by bypassing the traditional banking system and government organizations by keeping no trace about the personals who are involved because the identity of a person is decided on the private key which is not shared among anyone but the owner and there is no centralized place that keeps about transaction which makes government's helpless in many ways so unlike traditional and complicated methods to move large amount of money Bitcoin is the best way to do the same thing in seconds without any risk which makes it the best way to launder money
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I think it is too early to decide and come to any conclusion about Bitcoin right now because we see both positive and negative things happening for bitcoin in financial wise and political wise around the world. The price drop is too much yes but bitcoin due to many reasons such as Digital world concern towards bitcoin as a good payment method, Open mind about digital currencies among developed countries like Switzerland, Belgium and potential cryptocurrency investors there is a huge possibility Bitcoin might increase it's value in the near future
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It is a conclusion that we should not come to yet because even bitcoin price has fallen we can see many positive things happening for the betterment of bitcoin's future such as some developed country's like Switzerland, Denmark legalizing bitcoin as a payment currency and many major organizations in significant industries now focuses to use bitcoin as a transaction currency in there decentralized ecosystems which can help to reduce barriers to expand and grow globally as a well accepted payment currency. so any investor who invested long term in Bitcoin today definitely have a chance to make huge profits in the future
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Yes I really think this will change in the near future because one of the main reason that we don's see Bitcoin as a widely used currency in the world due to government rules, regulations and restrictions against bitcoin but we can see the situation is changing in many countries such as Switzerland legalizing bitcoin as a foreign payment method and some like Cyprus has given a neutral stance when considering bitcoin as a payment currency so considering such facts we can still hope the situation will change immensely in the near future for the betterment of cryptocurrency world
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Have we accomplish according to Mr. Nakamoto vision and mission ? According to my understanding we are really far from achieving that. Bitcoin's One main objective was to use it as a decentralized payment method without any berries in the world which face many difficulties due to new government rules and regulations to limit bitcoin as a payment currency due to many reasons. And another objective was to reduce the gap between poor and rich in the society which has not achieved for some extend because today we see most people who possess bitcoin does not hold until it reaches to it's full potential due to financial issues but rich doesn't have that problem so they have the ability to invest and hold bitcoin long term. The situation is much similar if we consider other objectives of Bitcoin but we can hope it will change much in the near future due to huge attraction among general public into the cryptocurrency world
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I too haven't used them yet but will definitely soon because it will be the most convenient way to use cryptocurrencies for common transactions ina easy way and one of the best method to bridge the gap between real world and the cryptocurrency world. but the thing is how far it will be usable for common transactions because most government's has a negative understanding about cryptocurrencies. So it will take more time to expand around the world.
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