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davis196
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August 14, 2016, 09:03:53 AM |
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What would need to happen to the global economy to actually make Bitcoin take over in place of National Currency like, USD, CAD or EURO?
So many people on here are banking on this happening one day, many even openly use this as a reason to invest in coins like Monero.
So I ask you, what do you think it would it actually take to make that happen?
WW3? An Asteroid, Alien Invasion?
I would say support from the governments and political parties in the western world. This isn`t going to happen so don`t rely on that. WW3,asteroids and alien invasion can destroy the bitcoin infrastructure and also destroy the civilization. |
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n691309
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August 14, 2016, 10:00:57 PM |
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I think that in countries that bitcoin is not supported and banned from their government bitcoin is being used in the illegal way of course and if these countries legalize bitcoin then I believe that bitcoin price will be increased but to be the most used currency I think people should move their big shares in bitcoin
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Aamir1
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August 15, 2016, 07:08:16 AM |
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I think that in countries that bitcoin is not supported and banned from their government bitcoin is being used in the illegal way of course and if these countries legalize bitcoin then I believe that bitcoin price will be increased but to be the most used currency I think people should move their big shares in bitcoin
Not the people, but big companies would have to move their big shares in bitcoin in order to make it one of the most used currencies in the world, because without that it would never be able to reach mainstream if it is not adopted by big companies around the world. |
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Dudeperfect
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August 16, 2016, 05:32:09 AM |
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I think if we want bitcoin to be a (most used) currency of a world then it should give at least double benefits that of fiat currencies and then we can at least hope for this dream. Primary requirements would be wide acceptability (most of the merchants should accept it), cheaper technology (a user friendly smartphone clients and a cheaper internet connection), secure and safety (it should promise security of the user in terms of his balance) and aggressive awareness would make it a global currency.
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HeroCat
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August 16, 2016, 07:13:41 AM |
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Some hundreds millions USD in Web advertising, and BTC implementing in world banks market can be start steps to Bitcoin as most used currency in the world. But even then BTC transaction time must be not more than 2 minutes, otherwise it is not possible to use it in shops.  |
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Xester
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August 16, 2016, 08:18:17 AM |
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It would take time. Time for everyone to be familiar with bitcoins capability and use. For bitcoin to become the most used currency needs a lot of users, people should be aware what bitcoins can do. If many people will be aware of bitcoin then the demand for it will go high. Then if many people will start to use it, maybe some stores, banks, and other companies might think twice to use it as alternative for payments. Then we might just woke up one day that bitcoin will become the most used currency and might take the role of fiat currencies.
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tiggytomb
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August 16, 2016, 08:32:14 AM |
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I think it would take something like the Amazons and the Paypals to add bitcoin as a payment method and that would dramatically increase the visibility and increase adoption. Even better would be to have the bitcoin symbol printed on a limited number of postage stamps lol  |
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Cast12
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August 16, 2016, 03:00:10 PM |
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I wouldn't bet on that happening any time soon since bitcoin is tied to fiat. Although if you were not tieing bitcoin to fiat like this forum(such as 1 btc = 1btc), then I guess it would work.
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BillyBobZorton
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August 16, 2016, 05:14:03 PM |
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It will take the lightning network being ready, so about next year, then from there it will be smooth sailing. Governments will keep fucking civilians and eventually people will be forced to learn and use BTC.
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n691309
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August 16, 2016, 05:55:47 PM |
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I think that in countries that bitcoin is not supported and banned from their government bitcoin is being used in the illegal way of course and if these countries legalize bitcoin then I believe that bitcoin price will be increased but to be the most used currency I think people should move their big shares in bitcoin
Not the people, but big companies would have to move their big shares in bitcoin in order to make it one of the most used currencies in the world, because without that it would never be able to reach mainstream if it is not adopted by big companies around the world. One of them are amazon, aliexpress, walmart etc those that have millions of costumers and from many different countries in the world and when they expand accepting bitcoin then it will make bitcoin price rising even more. |
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European Central Bank
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August 16, 2016, 10:52:33 PM |
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amazon accepting it won't do squat. what would do it is the rise of an online economy among unbanked people. if people in the west saw that new opportunities were being created where they couldn't exist before then they'd start to pay attention.
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The Sceptical Chymist
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August 16, 2016, 11:22:54 PM |
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Death of Fiat. And not just the death of the USD, but the euro and all currencies. It would take nothing short of a global economic disaster, and even then I think people would be flocking to precious metals and tangible things, not bitcoin. I think it would be possible but highly unlikely. If a zombie apocalypse happened today, people still don't know shit about bitcoin. The nerds would be hiding in the bunker trading bitcoin for seeds, but Johnny Lunchbox On The Street would be sitting on a pile of guns and gold.
You have to start small. These kinds of questions are jumping way ahead.
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Aamir1
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August 17, 2016, 05:12:06 PM |
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I think that in countries that bitcoin is not supported and banned from their government bitcoin is being used in the illegal way of course and if these countries legalize bitcoin then I believe that bitcoin price will be increased but to be the most used currency I think people should move their big shares in bitcoin
Not the people, but big companies would have to move their big shares in bitcoin in order to make it one of the most used currencies in the world, because without that it would never be able to reach mainstream if it is not adopted by big companies around the world. One of them are amazon, aliexpress, walmart etc those that have millions of costumers and from many different countries in the world and when they expand accepting bitcoin then it will make bitcoin price rising even more. That would obviously rise the price of bitcoin if those sites accept bitcoin, but it would just spread in the world of internet but we need adoption to a large extent in physical world, so that the people unaware of bitcoin or having different or negative ideas about it start learning and knowing its usage. |
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pooya87
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August 18, 2016, 04:50:25 AM |
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amazon accepting it won't do squat. what would do it is the rise of an online economy among unbanked people. if people in the west saw that new opportunities were being created where they couldn't exist before then they'd start to pay attention.
i disagree. any big place with a huge number of users and huge amount of money transfer every day is a good place to see bitcoin at. this helps the adoption and adoption means more users buying and using bitcoin in other words it can become the most used currency online (at least) and the price will also rise a lot. |
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btccashacc
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August 18, 2016, 05:23:18 AM |
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Some hundreds millions USD in Web advertising, and BTC implementing in world banks market can be start steps to Bitcoin as most used currency in the world. But even then BTC transaction time must be not more than 2 minutes, otherwise it is not possible to use it in shops. Advertising might be a good way to introduce bitcoin? the question is who will do that spend hundreds millions dollar in advertising? satoshi? i completely agree with you bitcoins need to be developed the one is transaction time once bitcoin is powerfull it's ready to be popullar currency in tjhe world |
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naidray
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August 18, 2016, 05:58:51 AM |
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What would need to happen to the global economy to actually make Bitcoin take over in place of National Currency like, USD, CAD or EURO?
So many people on here are banking on this happening one day, many even openly use this as a reason to invest in coins like Monero.
So I ask you, what do you think it would it actually take to make that happen?
WW3? An Asteroid, Alien Invasion?
As per my understanding, bitcoin has all the potential to get into that place. More importantly, the border-less nature of bitcoin will make it to be the most used the currency in this world. Other than that, many of seriously advantageous features of bitcoin undoubtedly will force the world economic to adopt it. Then obviously bitcoin will be the leader with whatever criteria we will be setting. |
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ObscureBean
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August 18, 2016, 06:31:04 AM |
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Stability is the most important factor for mass adoption. People need to know how much money they have at any given time. With Bitcoin, the amount of money you'll have when you wake up tomorrow is likely going to be different from the amount you have now. This makes planning ahead impossible and you can't live with that kind of uncertainty if you have a family and bills to pay. Then there is the fact that nobody is really responsible for Bitcoin, you're not insured and there is nobody you can run to for help if you wake up to a hacked wallet and your life savings gone.
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michelle1845
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August 18, 2016, 06:44:17 AM |
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A killer app would certainly help and lot of promotion would be required.
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shane
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August 18, 2016, 07:18:56 AM |
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difficult to bitcoin would like USD, CAD or EURO, bitcoin only digital currency, and everyone can not use this money for some particular reason. we need that many users to make bitcoin getting bigger, and likely to happen any in the future, as an alternative digital payment used all over the world.
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rekinthis
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August 18, 2016, 07:45:32 PM |
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I think it would take something like the Amazons and the Paypals to add bitcoin as a payment method and that would dramatically increase the visibility and increase adoption. Even better would be to have the bitcoin symbol printed on a limited number of postage stamps lol well you might be right, without them it is going to be hard to get a huge adoption with bitcoins at the moment, though i hope situation will change |
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