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Author Topic: Bitcoin as a leading currency?  (Read 13102 times)
cipherer
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May 05, 2017, 01:28:46 PM
#1

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.
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May 05, 2017, 01:35:40 PM
#2

The maximum amount that will ever be mined is 21 million bitcoin yes, but It's impossible for that amount to be in circulation even when everything is mined because people are losing their bitcoins all the time and they are lost forever.

Bitcoin is unlikely to become a leading currency simply because the banking system won't let it happen. Its unstoppable but won't be the main currency for sure. As for paying using smalls amounts, that's not really where bitcoin strength shows but hopefully with Lightning Network, that would be possible.

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May 05, 2017, 01:39:22 PM
#3

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May 05, 2017, 01:51:49 PM
#4

Indeed, Bitcoin can get lost, so it will get lost. In that case in the end (at last after the mining-process is done) the BTC-supply will be a negative growth function. Are there any empirical data/maths about this decreasing process? Will this negative growth be significant for excluding "Bitcoin as a leading currency"?
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May 05, 2017, 01:54:24 PM
#5

For 9 years we have seen that bitcoin is the leading currency as there are thousands of other alt coins came and went but only bitcoin could withstand this for years and price rose to all time high of 1600+. Near future it could be even more who knows it.

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May 05, 2017, 02:07:18 PM
#6

For 9 years we have seen that bitcoin is the leading currency as there are thousands of other alt coins came and went but only bitcoin could withstand this for years and price rose to all time high of 1600+. Near future it could be even more who knows it.

Same as explained based on bitcoin's technology several other altcoins got existence and very few stay in the growth path, remaining has went out of use. So it's true that bitcoin from the beginning serve as a potential alternative for fiat and the same will grow bigger and bigger as the adoption is increasing along with legalized usage in few countries.

 
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May 05, 2017, 02:21:22 PM
#7

Total cap of Bitcoin currency units that will ever exist stands at 2.100.000.000.000.000 or 2.1 quadrillion it will be perfectly fine to satisfy growing adoption for many many years to come.
In fact I expect that we will have many network scaling upgrades before adding another decimal place will be needed, or we won't never reach that point.
I don't see Bitcoin as main leading currency, not in the foreseeable future. We will have digital crypto issued by central bank, and bitcoin will be merely an alternative.



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May 05, 2017, 02:48:08 PM
#8

Total cap of Bitcoin currency units that will ever exist stands at 2.100.000.000.000.000 or 2.1 quadrillion it will be perfectly fine to satisfy growing adoption for many many years to come.
In fact I expect that we will have many network scaling upgrades before adding another decimal place will be needed, or we won't never reach that point.
I don't see Bitcoin as main leading currency, not in the foreseeable future. We will have digital crypto issued by central bank, and bitcoin will be merely an alternative.



Bitcoin will be the leading cryptocurrency but for the government bitcoin will be the leading commodity that has a value and can be used as a form of payment. The government have not seen bitcoin as a currency and therefore it can never be the leading currency. ANd even if the government will treat bitcoin as a currency the total number of bitcoin in circulation cannot serve the total number of population of people around the world.
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May 05, 2017, 03:39:50 PM
#9

Bitcoin is ultimately deflationary, since in the year 2140, when all bitcoins are mined, the loss of bitcoin continues, because you can't remove the error factor of humans losing passwords, getting their hardware broken and irreparable with the coins in it, be it hard disks, trezors or pendrives, accidents like your house burning with the coins in it including paperwallets... people will keep losing coins.

Some argue this will lead to deflationary spiral. I think this is a non issue, because due the digital nature of bitcoin, it can continue growing as long as there's demand, and if required, we can have more than 8 decimal points to cater for big values per coin while not losing the ability to do micropayments (BTC will be eventually worth millions of dollars, so 1 satoshi will be too high to cater for micropayments, which means we will need more decimal points).
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May 05, 2017, 03:41:01 PM
#10

This argument have been discussed several times and equally laid to rest. Its a simple fact that was even included in the White paper if I am correct that the amount of BTc required to purchase any amount of commodity will reduce as the value of BTC increases and that will solve the issue of limit in the quantity available to go round considering that some will even be lost forever.
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May 05, 2017, 04:42:54 PM
#11

You can't say that bitcoin is a leading currency right now because it's decentralized currency at the same time it's crypto currenct which is developed with a anonymity features and other good features but if bitcoin will be determined as a currency and like a fiat money. it will make the economy more lesser because the features itself will be gone.
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May 05, 2017, 05:41:27 PM
#12

This argument have been discussed several times and equally laid to rest. Its a simple fact that was even included in the White paper if I am correct that the amount of BTc required to purchase any amount of commodity will reduce as the value of BTC increases and that will solve the issue of limit in the quantity available to go round considering that some will even be lost forever.

Clear, but i assume that 8 digits and the possibility for micropayments is a relevant constraint. In that case it will noy completely solve the issue of quantity. I read about a 9-digit, but isn't that a change of concept?
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May 05, 2017, 05:54:54 PM
#13

For 9 years we have seen that bitcoin is the leading currency as there are thousands of other alt coins came and went but only bitcoin could withstand this for years and price rose to all time high of 1600+. Near future it could be even more who knows it.

it is obvious that the prices of Bitcoin will still increase in the future. But look at all other altcoin, all of them are joining the race against each other and even bitcoin. They are trying to become the best crypto on this planet


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May 05, 2017, 06:43:09 PM
#14

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.


Have you heard of mBTC, bits and satoshi?
There are 10 millions satoshi in a bitcoin.

That's pretty much enough for now on.
And if it would really pose a problem a hardfork would solve it but again it is not necessary.

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May 05, 2017, 08:33:23 PM
#15

Because the cap is just 21 million bitcoins that will ever be mined, I think that will never happen.
Bitcoin is just not liquid enough and because of this cap, it will never be. Besides this, the circulation of the BTC can not compete with currencies like the dollar in the near future.

Interesting question by the way.
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May 05, 2017, 08:42:54 PM
#16

That's pretty much enough for now on.
And if it would really pose a problem a hardfork would solve it but again it is not necessary.
Even if hard fork/upgrade was really necessary and needed I have doubt it would be done.
We can see that needed changes - scaling upgrade is neglected for at least 2 years and there is still no solution at hand.
If bitcoin can't successfully manage its own upgrades we might see grim future ahead.


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May 05, 2017, 08:56:03 PM
#17

That's pretty much enough for now on.
And if it would really pose a problem a hardfork would solve it but again it is not necessary.
Even if hard fork/upgrade was really necessary and needed I have doubt it would be done.
We can see that needed changes - scaling upgrade is neglected for at least 2 years and there is still no solution at hand.
If bitcoin can't successfully manage its own upgrades we might see grim future ahead.

Interesting, I think it will depend on the question whether financial institutions and governments will embrace the blockchain.
Not so much de development of Bitcoin itself, but rather the ecosystem around it.
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May 05, 2017, 09:51:15 PM
#18

@OP congratulations, you have just figured the secret behind the Bitcoin's design which was a public knowledge from the start but not many really think about it. here is the code and it functions like this and like that and here is the supporting community.

If you do the following> 20*20=400.

Earth population only increases over time.

Resources are consumed overtly.

Governments are printing too much fiat causing inflation.

Bitcoin doesn't have inflation, it's like a glass of water, if you fill it with liquid gold then does it still hold the same value as the water?

Reminds me of this theory; there is only one female on earth capable of giving birth(there is a TV series about it as well) could you imagine the worth and importance of that lady? she's indeed priceless.

20 years from now Bitcoin will have a price more than $50k/BTC.
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May 05, 2017, 11:59:59 PM
#19

If you said bitcoin is the leading currency in the crypto currency then everyone will be agree, but if you are talking about comparing bitcoin and Dollar or Euro then bitcoin will never defeat them, fiat money is controlled by the government and basically got no limit because they can just create more, while bitcoin got a limit, so there wont be enough for bitcoin to dominate fiat and of course the government will never agree with the idea of bitcoin become a leading currency


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May 06, 2017, 02:49:07 AM
#20

@OP congratulations, ...

Bitcoin doesn't have inflation, it's like a glass of water, if you fill it with liquid gold then does it still hold the same value as the water?

Reminds me of this...

 So it's more like a glass of liquid gold then?  You lost me.
Would it be possible to illustrate this some other way?  I would like to understand.

 
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May 06, 2017, 05:42:42 AM
#21

Reminds me of this theory; there is only one female on earth capable of giving birth(there is a TV series about it as well) could you imagine the worth and importance of that lady? she's indeed priceless

The reverse case would be more demonstrative

I mean with just one male remaining. What's the purpose of that female if she could only give birth to a dozen of children all of them could be boys (and she could die in the process)? While with just one man, given today's technologies (e.g. in vitro fertilisation), it is possible to fertilize many thousands of women. And that would really work out

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May 06, 2017, 06:17:38 AM
#22

Bitcoin is and will be a alternative currency for much time. Dollar controls the world and it will continue happening for much time yet. We can have many currencies in the world being used by many persons, but I don't think bitcoin will be the leading one.
Strong countries control strong currencies and bitcoin is decentralized, no one controls it. It's necessary a lot of effort to make a decentralized currency become the main currency of the world.

 
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May 06, 2017, 11:15:48 PM
#23

If you said bitcoin is the leading currency in the crypto currency then everyone will be agree, but if you are talking about comparing bitcoin and Dollar or Euro then bitcoin will never defeat them, fiat money is controlled by the government and basically got no limit because they can just create more, while bitcoin got a limit, so there wont be enough for bitcoin to dominate fiat and of course the government will never agree with the idea of bitcoin become a leading currency

May be that's the point: Bitcoin got a limit, so we can trust that, fiat money has no limit, so we are delivered to a third party. This may result in an increasing trust in Bitcoin. Trust/confidence comes on foot but goes by horse.
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May 07, 2017, 06:56:28 AM
#24

Bitcoin is a leading currency but it is still on the list of the cryptocurrencies and bitcoin will never be a leading currency among the fiat currencies out there. Bitcoin will become a leading currency if there will be enough demand for the market that can sustain the required demand for having a stable price in the market.
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May 07, 2017, 08:39:12 AM
#25

I think bitcoin still has a long way to go before it becomes a leading currency. For one, the processing speed of transactions need to be greatly increased for it to be used in the mass market.

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May 07, 2017, 10:13:59 AM
#26

I think bitcoin will become a leading currency for as long we have a high demands for the market.

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May 07, 2017, 10:27:06 AM
#27

Bitcoin is a leading currency but it is still on the list of the cryptocurrencies and bitcoin will never be a leading currency among the fiat currencies out there. Bitcoin will become a leading currency if there will be enough demand for the market that can sustain the required demand for having a stable price in the market.
No cryptocurrency is that popular as bitcoin among the entire list of currencies. It has attained the growth similar to dollar in a very short time period of less than 10years time. Only because of certain features it cannot be considered under the fiat currency list. So as mentioned it'll continue to lead in the digital currency network.

 
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May 07, 2017, 11:37:24 AM
#28

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.


It`s pointless to post threads about something that we already know and which is asked so many times.
I guess that you are just trying to bump your post count.
Bitcoin will never be like the USD or the euro.Don`t try to compare them.

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May 07, 2017, 12:33:07 PM
#29

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.

To lead other currencies, bitcoin need to achieve some important things :
- scalability ( which it isn't right now)
-  instant transaction ( we have to wait if use bitcoin to be confirmed)
- legalized by government (many countries doesn't yet)
- cannot spend bitcoin for micro payment, it can be stuck forever.
Bitcoin still far away from many factors that required to become number one currency.

 
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May 07, 2017, 02:39:10 PM
#30

It takes some time for bitcoin to get the maximum of 21 million bitcoin mined because bitcoin price is too expensive that's why it takes a couple years to reach but even bitcoin has reached its maximum or limit, the developer will make a way for it. If bitcoin disappear it will affect all the cryptocurrency.

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May 07, 2017, 03:33:06 PM
#31


Let's inventory the other constraints.


1. Unawareness - The prime constraint in the BTC way is it being too technical. Major portion of the globe is still technical conservative and money over internet is still utopia.

2. Governments' intention - No country would like that its citizens use currency unregulated by it. This will make the country economically weak on international front until it accepts bitcoin as prime currency which none country gonna do ever.

3. Internal conflicts - The scaling issue has arisen the internal conflicts and who knows we gonna see more conflicts and constraints in bitcoin ecosystem in future.

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May 08, 2017, 05:23:49 AM
#32

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.

The satoshi is currently the smallest amount of bitcoin but if bitcoin became so valuable that the value of a satoshi was bigger than that of a dollar cent, then more units could be added to the code and that is it, while Im not a programmer that does not sound too complicated.
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May 08, 2017, 05:57:09 AM
#33

I'm not so sure about that, why would the world want to give so much money to likes of Wu and BU bag holders?
We're not yet mainstream and not yet fully adopted by the majority of markets still they're pulling us down with their stubbornness, let alone the fact about what would've happened if we were in worldwide scene?

Of course Bitcoin will remain the top cryptocurrency but we need a few things to change first to gain the public trust by getting rid of those taking Bitcoin for granted by controlling the network and play monopoly with hash power.

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May 08, 2017, 07:04:58 AM
#34

I'm not so sure about that, why would the world want to give so much money to likes of Wu and BU bag holders?
We're not yet mainstream and not yet fully adopted by the majority of markets still they're pulling us down with their stubbornness, let alone the fact about what would've happened if we were in worldwide scene?

Of course Bitcoin will remain the top cryptocurrency but we need a few things to change first to gain the public trust by getting rid of those taking Bitcoin for granted by controlling the network and play monopoly with hash power.

Indeed, gaining the wide public trust should be the most important job of the market! Than it is just a matter of time that wee wil see bigger players coming.
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May 09, 2017, 04:12:55 PM
#35

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.

To lead other currencies, bitcoin need to achieve some important things :
- scalability ( which it isn't right now)
-  instant transaction ( we have to wait if use bitcoin to be confirmed)
- legalized by government (many countries doesn't yet)
- cannot spend bitcoin for micro payment, it can be stuck forever.
Bitcoin still far away from many factors that required to become number one currency.
yes these are some weakness in bitcoin that can be overcome with the passage of time. but it will take some more time. i think bitcoin is still very young and very little people know about bitcoin, but now the popularity of bitcoin is increasing from time to time and hope that very soon bitcoin will be reach to all part of the world.
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May 09, 2017, 04:21:01 PM
#36

The right comparison but there is a big difference.
Your Euro and USD can be created over and over again once they were lost. Not with bitcoin.
The lost coins which some have huge amounts i.e. the lost old computers where thousands or maybe tens of thousands are missing.
Those will not be recovered or is buried forever.
There will be a time when demands will come consodering the lack of bitcoin outside the market.
That is why many of us here are just holding it thinking it will be rare someday.

 
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December 24, 2017, 06:33:36 AM
#37

Reminds me of this theory; there is only one female on earth capable of giving birth(there is a TV series about it as well) could you imagine the worth and importance of that lady? she's indeed priceless

The reverse case would be more demonstrative

I mean with just one male remaining. What's the purpose of that female if she could only give birth to a dozen of children all of them could be boys (and she could die in the process)? While with just one man, given today's technologies (e.g. in vitro fertilisation), it is possible to fertilize many thousands of women. And that would really work out
Bitcoin is conquering all the currency because of its value every single Bitcoin. As long as the people is using cryptocurrencie, the value of Bitcoin will become higher and higher.

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December 24, 2017, 11:19:02 AM
#38

The maximum amount that will ever be mined is 21 million bitcoin yes, but It's impossible for that amount to be in circulation even when everything is mined because people are losing their bitcoins all the time and they are lost forever.

Bitcoin is unlikely to become a leading currency simply because the banking system won't let it happen. Its unstoppable but won't be the main currency for sure. As for paying using smalls amounts, that's not really where bitcoin strength shows but hopefully with Lightning Network, that would be possible.
There are over a million bitcoin being lost forever and majority of the coins is held by the known address of satoshi which are never moved till now and a lot of coins being lost because of lost private keys and majority from early investors or miners,bitcoin opened a new area of investment and it has its major flaws and hopefully the lightening network implementation would sort some issues we have right now,it is a new era of economy and it is the leading crypto currency and i am not here to see bitcoin compete against fiat but as a solely new form of investment platform.

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December 24, 2017, 12:19:25 PM
#39

The maximum amount that will ever be mined is 21 million bitcoin yes, but It's impossible for that amount to be in circulation even when everything is mined because people are losing their bitcoins all the time and they are lost forever.

Bitcoin is unlikely to become a leading currency simply because the banking system won't let it happen. Its unstoppable but won't be the main currency for sure. As for paying using smalls amounts, that's not really where bitcoin strength shows but hopefully with Lightning Network, that would be possible.
There are over a million bitcoin being lost forever and majority of the coins is held by the known address of satoshi which are never moved till now and a lot of coins being lost because of lost private keys and majority from early investors or miners,bitcoin opened a new area of investment and it has its major flaws and hopefully the lightening network implementation would sort some issues we have right now,it is a new era of economy and it is the leading crypto currency and i am not here to see bitcoin compete against fiat but as a solely new form of investment platform.
For some reason it is a bad fortunate for those who had lost their private key. Bitcoin is really the leading digital currency among all the coins, aside from it is pioneer it has also a stable security which we can assure that it cannot hack or destroyed by any third party, good impact that some btc was lost is that it  can increase the price.
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December 24, 2017, 12:30:39 PM
#40

That's pretty much enough for now on.
And if it would really pose a problem a hardfork would solve it but again it is not necessary.
Even if hard fork/upgrade was really necessary and needed I have doubt it would be done.
We can see that needed changes - scaling upgrade is neglected for at least 2 years and there is still no solution at hand.
If bitcoin can't successfully manage its own upgrades we might see grim future ahead.

Interesting, I think it will depend on the question whether financial institutions and governments will embrace the blockchain.
Not so much de development of Bitcoin itself, but rather the ecosystem around it.

Honestly speaking I dont think the Hard-Forks were of much use. While there have been nice ideas behind these hardforks it does not mean that the ideas are going to realize anytime soon. I saw BTG hard fork and it did not seem to get any edge over others. Then there was sbtc and lbtc forks about which I was not even aware of until HitBTC told me that I would receive the altcoins.

The concept of HF was exciting when it first happened and now its fading away.

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December 24, 2017, 12:58:59 PM
#41

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.

Among cryptocurrencies, I agree that it is indeed the leading cryptocurrency but I doubt that it is the leading in general. Bitcoin is not yet recognized in many countries as of this moment. Even if it had the largest market value among any ither currencies, I think it is not yet the strongest or leading. There will be more years to come for that thing to happen.

 
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December 24, 2017, 01:09:02 PM
#42

Yes true, with the price increase that happened very extraordinary then make bitcoin is very strong currency and counted everybody, I'm sure bitcoin performance keeps improving.

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December 24, 2017, 01:41:05 PM
#43

Let not forget the fact that out of the 21 million bitcoin in circulation 10 million bitcoin is already taken by the great santoshi Nakamoto himself, so we are left with just 11 million bitcoin to the general bitcoin community. But even at that bitcoin is rich in potential to sustain all of us in the community as long as it sustain it steady increase in value against the US dollars and other currencies in the exchange market.
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December 24, 2017, 02:09:45 PM
#44

Many people are stressing on this fact and I think one day will come when government of each country will have to think about the crypto currency in the positive way as we are looking at it today. They don't accept the currency the way we want today but if we see the circulation of coins and the right break up for the currency then we can really go right with it. The break up need not to be related with the dollar cent or euro cent its completely different thing. We can always use the units provided by the Mr. Satoshi and thats the satoshi or bits itself. This we can use easily because the prices already too much for the bitcoin and thus these are the only dollars and cents for us in the world of crypto currency.

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December 24, 2017, 02:39:29 PM
#45

A competition in the economy must be considered when we're making the assumption of Bitcoin that will lead the future trading currencies. In fact that this month isn't that a good month for sellers, how much more could it impact in the presumed reality that it will lead the currencies. It should prove first its competency not just in its price but also in its market characteristics. Will it be reliable as the primary global currency in imports and exports in all of the countries? In general, it needs development.

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December 24, 2017, 04:03:17 PM
#46

A competition in the economy must be considered when we're making the assumption of Bitcoin that will lead the future trading currencies. In fact that this month isn't that a good month for sellers, how much more could it impact in the presumed reality that it will lead the currencies. It should prove first its competency not just in its price but also in its market characteristics. Will it be reliable as the primary global currency in imports and exports in all of the countries? In general, it needs development.
Yes we can say that Bitcoin is a leading currency because it is the top most cryptocurrency today and all the other cryptocurrencies and altcoins are regulated with respect to it.In the last 8 years it has attained a new height and has gained a lot of popularity from the people.More and more people are investing in Bitcoin so as to earn more profits in a short period of time.The signature campaigns also give us decent payments weekly.In signature campaigns you are paid according to your rank.So higher the rank more will be the payment.It is a time of digitisation so everyone wants to know about Bitcoins and use it.
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December 24, 2017, 05:54:21 PM
#47

Currently bitcoin is the main currency in cryptocurrency and is still the source of crypto trading, almost all bitcoin-oriented crypto transactions and its contribution is enormous for the advancement in the field of digital currency so as to be able to popularize digital currency to various countries.
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December 24, 2017, 06:43:36 PM
#48

A competition in the economy must be considered when we're making the assumption of Bitcoin that will lead the future trading currencies. In fact that this month isn't that a good month for sellers, how much more could it impact in the presumed reality that it will lead the currencies. It should prove first its competency not just in its price but also in its market characteristics. Will it be reliable as the primary global currency in imports and exports in all of the countries? In general, it needs development.
Yes we can say that Bitcoin is a leading currency because it is the top most cryptocurrency today and all the other cryptocurrencies and altcoins are regulated with respect to it.In the last 8 years it has attained a new height and has gained a lot of popularity from the people.More and more people are investing in Bitcoin so as to earn more profits in a short period of time.The signature campaigns also give us decent payments weekly.In signature campaigns you are paid according to your rank.So higher the rank more will be the payment.It is a time of digitisation so everyone wants to know about Bitcoins and use it.
I agree, bitcoin is undoubtedly the leading cryptocurrency, for this short time it was able to grow very much and gain immense popularity...I don't know any other currency that is so strong as bitcoin
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December 24, 2017, 08:56:28 PM
#49

Reminds me of this theory; there is only one female on earth capable of giving birth(there is a TV series about it as well) could you imagine the worth and importance of that lady? she's indeed priceless

The reverse case would be more demonstrative

I mean with just one male remaining. What's the purpose of that female if she could only give birth to a dozen of children all of them could be boys (and she could die in the process)? While with just one man, given today's technologies (e.g. in vitro fertilisation), it is possible to fertilize many thousands of women. And that would really work out
Yes it is a leading currency because bitcoin can do anything thats why everyone they are joining bitcoin and still more people are trying to join it bitcoin bring revaluation in many countries in my country bitcoin reduces unemployment and its now very popular in my country next year bitcoin is going to be legal in my country just because of its great performance so I agree with you that bitcoin is a leading currency in market.
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December 24, 2017, 09:39:21 PM
#50

Let not forget the fact that out of the 21 million bitcoin in circulation 10 million bitcoin is already taken by the great santoshi Nakamoto himself, so we are left with just 11 million bitcoin to the general bitcoin community. But even at that bitcoin is rich in potential to sustain all of us in the community as long as it sustain it steady increase in value against the US dollars and other currencies in the exchange market.

Where did you get 10m from? To my understanding it is 4m. Also 21m or 11m doesn't really matter as bitcoin is designed to be used not as whole bitcoins but in smaller fragments of bitcoins.

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December 24, 2017, 09:57:54 PM
#51

Let not forget the fact that out of the 21 million bitcoin in circulation 10 million bitcoin is already taken by the great santoshi Nakamoto himself, so we are left with just 11 million bitcoin to the general bitcoin community. But even at that bitcoin is rich in potential to sustain all of us in the community as long as it sustain it steady increase in value against the US dollars and other currencies in the exchange market.

Where did you get 10m from? To my understanding it is 4m. Also 21m or 11m doesn't really matter as bitcoin is designed to be used not as whole bitcoins but in smaller fragments of bitcoins.
I beleiece that bitcoin is really a leading curremcy today because it has really a big price and a hreat value and it think this progress in bitcoin really depend on its simplicity.People can really earn bitcoin in a simple way that is why is is really getting popular and number 1  in crypto field bitcoin is really amazing and i believe  that no other coin can surpass on it.

 
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December 25, 2017, 03:18:07 PM
#52

Of course, Bitcoin is now the leading currency. And in the near future it will remain the leading currency. I do not see any competitors now.
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December 26, 2017, 11:13:41 AM
#53

Yes true, with the price increase that happened very extraordinary then make bitcoin is very strong currency and counted everybody, I'm sure bitcoin performance keeps improving.
No doubt in it as everyone knows bitcoin is at top these days and bitcoin price is increasing with time more and more. I hope this is time for bitcoin to improve more and get high in price so that it will be big profit currency of the year. Now people who have bitcoin in life are saying it made life beautiful for them. Bitcoin is surely increasing in price and it will give them high benefit for price and demand that is very high.

 
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December 26, 2017, 12:23:10 PM
#54

There will be less than 21.000.000 bitcoin since many of them have been lost forever.

when someone dies or lose access to his wallet for any reoson it will be impossible to recover his lost Bitcoins, that's how the system works, we can't do anything for it (at least for now).
But Bitcoin is highly divisible. There are 100.000.000 Satoshi per Bitcoin, thus even if Bitcoin reaches 1.000.000$, one Satoshi will be equal to 0.01$
and that will make buying the cheapest thing on earth possible.

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December 26, 2017, 12:30:45 PM
#55

Bitcoin is the world's first crypto currency.For this,people called this the mother of all crypto currency.Moreover, Bitcoin lead the other currency. There is no competitors for this forum.But there are more currency alive in the world.

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December 26, 2017, 12:31:43 PM
#56

It has been since its inception and will continue to be for the foreseeable future.
But some cryptocurrency will take its place eventually

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December 26, 2017, 12:37:59 PM
#57

Bitcoin is proving itself as a leading currency from past 9 years. It continues to lead the pack of cryptocurrencies in terms of market capitalization, user base and popularity. Nevertheless, virtual currencies such as Ethereum and Ripple which are being used more for enterprise solutions are becoming popular.
It was amongst the top 90 currencies in the world in early 2017. Within 11 months, it has evolved into the 30th largest currency in the global market with exponential increase in user base, daily transaction volume, and popularity.

Hope this momentum will be continue in 2018 also..............
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December 26, 2017, 12:38:28 PM
#58

This will not happen if bitcoin has become the main currency, it will greatly reduce the number of these countries currency circulation, which for some country's economy is very harmful, liquidity, may limit the money in the bank is also not welcome bitcoin.

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December 26, 2017, 12:45:19 PM
#59

Bicoin is the first ever cryptocurrency,
So it will always be the number one crytocurrency, and until now one can surpass it.
Although few bitcoin is being died, because of some reasons.
But still lets trust bitcoin and i know bitcoin will never fail us.

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December 26, 2017, 12:50:57 PM
#60

Yes true, with the price increase that happened very extraordinary then make bitcoin is very strong currency and counted everybody, I'm sure bitcoin performance keeps improving.

We will see bitcoin at a higher value in the next 3years, bitcoin will really make us rich for sure. It will lead us to a greater nation, and bitcoin will surely remain on top of all altcoins, a bright future ahead with bitcoin.
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December 26, 2017, 12:52:26 PM
#61

In all currencies bitcoin is the most popular in all , and it is has the good rate everyday .
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December 26, 2017, 12:57:18 PM
#62

There is nothing wrong with bitcoin to be used as a leading currency.Earlier,transactions were made very fast and at very low fee when compared to other payment options.But what has made it difficult to be used is the very high fee and even a week for the transaction to get confirmed.

Already,bitcoin is nowadays getting used as an asset.It was said that bitcoin could not be used for micro payments and now,bitcoin has become not even usable for major payments too.

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December 26, 2017, 01:08:04 PM
#63

In all currencies bitcoin is the most popular in all , and it is has the good rate everyday .
which you say is true,
but to force bitcoin into world currency! I think it will be very difficult
because in essence bitcoin still has limits.
because in some areas difficult to get access to the Internet network.
this is the limit that makes it impossible

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December 26, 2017, 01:14:49 PM
#64

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.

This would be easily possible if the market supply was much larger but sadly over half of the coins have already been mined, therefore making it difficult to be traded with. Btc is increasing in value but the same can't be said for its supply.

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December 26, 2017, 01:31:11 PM
#65

Of course, Bitcoin is now the leading currency. And in the near future it will remain the leading currency. I do not see any competitors now.
I think BitcoinCash could be the next competitor with Bitcoin. Looks like people are trying to pump the BCH to the moon.
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December 26, 2017, 01:33:58 PM
#66

    Maybe bitcoin is a leading currency because of it's higher value and a huge of demand. Bitcoin also has a many usage ,so it is not impossible to be a leading currency in digital world.
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December 26, 2017, 02:04:37 PM
#67

I think bitcoin has stable price in many time. So it was reason why bitcoin as a leading currency. Thanks for bitcoin because I always get many more rewards from bitcoin Smiley

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December 26, 2017, 02:05:31 PM
#68

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.

Since its evolution by sathoshi it has come down a long price and development journey and now is at 15000$+ and used by huge masses for several purposes and it is now recognized the leading crypto with a market cap of above $200 billion.Many altcoins came but they cannot withstand its power but some are giving tough competition but still are far behind.The total supply is of 21 million out of which many have been lost permanently but if we talk about its usage in normal life then at current it is not possible because financial agencies prevents this to happen but who knows this currency become a routine part of our lifetime in future replacing all other things.

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December 26, 2017, 02:20:48 PM
#69

I guess that full amount of bitcoins will never be in use. Because from time to time people lose thier wallets or information for it. Also who knows how much was lost in the past. But even with that i think that there are more than enough coins. Bitcoin will never become main world currency, because countries will want their own currency. But that will not stop people from using it all over the world.
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December 26, 2017, 02:26:02 PM
#70

There are two sides of story, Bitcoin has the potential to lead the world currencies but no government will ever want to do so because of its decentralized, anonymous and volatile characteristics. Leading currency should be less volatile than others but bitcoin's volatility is increasing with the increase in price.

And second thing is the possibility of paying bitcoin in small amount (i.e in satoshi) will never be economical due to high transaction fee, even if the transaction fee get lower you will have to pay fee for each an every transaction even for a single satoshi.

 
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December 26, 2017, 02:33:20 PM
#71

@OP congratulations, ...

Bitcoin doesn't have inflation, it's like a glass of water, if you fill it with liquid gold then does it still hold the same value as the water?

Reminds me of this...

 So it's more like a glass of liquid gold then?  You lost me.
Would it be possible to illustrate this some other way?  I would like to understand.

 
I think he's saying that it's only worth what people value it as, and that Bitcoin itself is nothing but code.
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December 26, 2017, 03:11:51 PM
#72

A competition in the economy must be considered when we're making the assumption of Bitcoin that will lead the future trading currencies. In fact that this month isn't that a good month for sellers, how much more could it impact in the presumed reality that it will lead the currencies. It should prove first its competency not just in its price but also in its market characteristics. Will it be reliable as the primary global currency in imports and exports in all of the countries? In general, it needs development.
Yes we can say that Bitcoin is a leading currency because it is the top most cryptocurrency today and all the other cryptocurrencies and altcoins are regulated with respect to it.In the last 8 years it has attained a new height and has gained a lot of popularity from the people.More and more people are investing in Bitcoin so as to earn more profits in a short period of time.The signature campaigns also give us decent payments weekly.In signature campaigns you are paid according to your rank.So higher the rank more will be the payment.It is a time of digitisation so everyone wants to know about Bitcoins and use it.
I agree, bitcoin is undoubtedly the leading cryptocurrency, for this short time it was able to grow very much and gain immense popularity...I don't know any other currency that is so strong as bitcoin


I see and I truly agree with your point. You're pointing that it reduces unemployment that could provide its strength or power to invite more users. I might have missed that point since I was really focused in general, my apology. But yes, it can really dominate at all currencies. Its history and its growth since the origin prove quite enough that it can lead. It is always the good time to introduce Bitcoin to other people around the world where it can build up opportunities, not just for the unemployed but it can also build opportunities to all investors finding their own investments.

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December 26, 2017, 03:20:36 PM
#73

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.

First of all it is the main reason why the altcoins such as ETH,WAVES,LITECOIN,DODGECOIN they all exist because of bitcoin they were invented because of Bitcoin. Bitcoin is a master piece no doubt about it.
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December 27, 2017, 05:39:26 PM
#74

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.

Among cryptocurrencies, I agree that it is indeed the leading cryptocurrency but I doubt that it is the leading in general. Bitcoin is not yet recognized in many countries as of this moment. Even if it had the largest market value among any ither currencies, I think it is not yet the strongest or leading. There will be more years to come for that thing to happen.
Yes its true that bitcoin is a leading currency because bitcoin is last man standing in market all the people around the world they are joining bitcoin some crypto have left market and some of them have replaced by bitcoin is now one of the favorite currency in market and its price is high than any other currency and very soon bitcoin will be able to end world poverty so bitcoin is only currency which is leading than any other currency.
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December 27, 2017, 05:46:07 PM
#75

For 9 years we have seen that bitcoin is the leading currency as there are thousands of other alt coins came and went but only bitcoin could withstand this for years and price rose to all time high of 1600+. Near future it could be even more who knows it.


I agree with that, other people think Bitcoin is the leading fiat which is I am not agree with, Bitcoin has a lot of potentials indeed as well as disadvantage which is we are very aware of that. In this platform of course Bitcoin is the leading currency in which its already approaching a million in our country but I guess in dollars its 10-15,000 ,correct me if Im wrong but still this is indeed a huge amount that we can acquire.

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December 27, 2017, 07:53:19 PM
#76

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.


Thanks for the details. Bitcoins is leading the currency market. Another main things is, a crypto currency is leading the currency market. Very interesting. What it says? Crypto is going to lead the economy market? People will be speaking only about crypto dominant? Where the crypto is leading the economy world to? Every user of bitcoin and other crypto currencies are going to be more wealthy then any other fiat holders down the line? Yes. All these are going to turn as real in coming years. More adaption is going to occur soon. Happy to see it.



























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December 27, 2017, 08:00:06 PM
#77

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.


Thanks for the details. Bitcoins is leading the currency market. Another main things is, a crypto currency is leading the currency market. Very interesting. What it says? Crypto is going to lead the economy market? People will be speaking only about crypto dominant? Where the crypto is leading the economy world to? Every user of bitcoin and other crypto currencies are going to be more wealthy then any other fiat holders down the line? Yes. All these are going to turn as real in coming years. More adaption is going to occur soon. Happy to see it.

What do you mean Bitcoin is leading the currency market? You will have to look at 2 factors - money supply and how much of transactions are denominated in that currency. The US dollar is the leader - no doubt about it. Bitcoin has a long way to go before it gets anywhere close.


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December 27, 2017, 11:07:44 PM
#78

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.


Thanks for the details. Bitcoins is leading the currency market. Another main things is, a crypto currency is leading the currency market. Very interesting. What it says? Crypto is going to lead the economy market? People will be speaking only about crypto dominant? Where the crypto is leading the economy world to? Every user of bitcoin and other crypto currencies are going to be more wealthy then any other fiat holders down the line? Yes. All these are going to turn as real in coming years. More adaption is going to occur soon. Happy to see it.

What do you mean Bitcoin is leading the currency market? You will have to look at 2 factors - money supply and how much of transactions are denominated in that currency. The US dollar is the leader - no doubt about it. Bitcoin has a long way to go before it gets anywhere close.
Doesn't bitcoin fit for that? we all know that bitcoin has those factors, high demand with limited supply and although we do have some crypto that was also popular still bitcoin is the number one in the market and its volatility in the price is one the reason why  it is still the number one and most talked crpto of all time.

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December 27, 2017, 11:15:19 PM
#79

Many countries only have support for Bitcoin wallets. However, soon this will change, and people can finally choose which coin to buy primarily.
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December 27, 2017, 11:36:09 PM
#80

We can say that bitcoin is very popular today and it always appeared in social medias. Gaining those leadership to become on top among other currencies is very amazing. But I don't think that it will be on top for long, since the total supply of bitcoin are almost mined in which it could really affect bitcoin's price. And we can't denied that USD is having a huge fund and with unlimited supply, and it was supported by all countries as a global currency unlike bitcoin. Possible that bitcoin will step aside and USD will move forward taking place after bitcoin.  
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December 27, 2017, 11:59:44 PM
#81

Bitcoin is the first and dominant crypto curreny of all time and its value grows rapidly making remarkable moment as of this yera performance. The bitcoin and the blockchain network has helped me a lot as well as those people the same way of living and other users by providing an additional source of income by working on the bitcoin and crypto network, bitcoin has helped to transaction payments via online  throughout the world without relying on any third party situation like the banking system and any governing bodies. I believed by next year that bitcoin will be more popular as well as its value grows much more as the time passes by.
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December 28, 2017, 12:26:13 AM
#82

We can't say it as a leading currency since it is not widely used for a currency purpose, every transaction fee is so high, for an economic matter a good currency should have been being used by people and it circulates fast. A currency with a transaction fee this high cannot be called as a good currency. Bitcoin maybe a lot better and has a lot features than any other currency but with the transaction fee like this and with the value that don't stop moving I don't think it can ever be a leading currency.





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December 28, 2017, 03:01:46 AM
#83

Bitcoin is ultimately deflationary, since in the year 2140, when all bitcoins are mined, the loss of bitcoin continues, because you can't remove the error factor of humans losing passwords, getting their hardware broken and irreparable with the coins in it, be it hard disks, trezors or pendrives, accidents like your house burning with the coins in it including paperwallets... people will keep losing coins.

Some argue this will lead to deflationary spiral. I think this is a non issue, because due the digital nature of bitcoin, it can continue growing as long as there's demand, and if required, we can have more than 8 decimal points to cater for big values per coin while not losing the ability to do micropayments (BTC will be eventually worth millions of dollars, so 1 satoshi will be too high to cater for micropayments, which means we will need more decimal points).

bitcoin will become a legend of cryptocurrency, in the year 2140 bitcoin is a rare currency. ETH possibilities will be a change for bitcoin, eth use has a big impact and shifts bitcoin & altcoin.
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January 02, 2018, 03:29:32 AM
#84

The bitcoin starts from very small amount which most people didn't believe that it will be successful. If we talk about the leading currency, definitely yes, bitcoin is the leading crypto currency from all crypto currency here in the cyberworld. As the time goes by bitcoin is very unpredictable which suddenly grows its value for just short period of and gives a tremendous performance of the year 2017. Though it will fall for a while due to some users as well as investors some doubts that bitcoin will fall totally but after some moment it will back to its stabilized value which is like in a market by applying the law of supply and demand throughout the world.
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January 11, 2018, 09:10:11 PM
#85

The maximum amount that will ever be mined is 21 million bitcoin yes, but It's impossible for that amount to be in circulation even when everything is mined because people are losing their bitcoins all the time and they are lost forever.

Bitcoin is unlikely to become a leading currency simply because the banking system won't let it happen. Its unstoppable but won't be the main currency for sure. As for paying using smalls amounts, that's not really where bitcoin strength shows but hopefully with Lightning Network, that would be possible.
Bitcoin power lies in a situation where people are sending huge amount of value from one country another per say. It the current bitcoin situation, it is really not possible for the people to be using bitcoin as a medium form of daily transactions. it may rather work as a global payments or a digital store of value.
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January 13, 2018, 08:18:32 AM
#86

           Cripto  money as the main currency. All the wheels are spinning, of course there is a point of change, I tie up the changes that exist if the government participates in giving cripto money for the main money held. Actually this is more shaped like help that can help the economy disebuah country.

But our country still has not seen the cripto money that can be used for the whole world. They do not consider that this is a great opportunity for citizens. Anyone who tries to make a profit with their cripto money can trade with their country money. So they can make easy money for the future. If do not understand then they will not get this cripto money.

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January 13, 2018, 08:42:52 AM
#87

20 years from now Bitcoin will have a price more than $50k/BTC.

20 years? that long? woah, I'm hoping to be still alive when that happen, but I am more excited on how much will be the Ethereum when Bitcoin reach that big value. 2 months ago it was a bit under $300 now it reach more than $1100.

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January 21, 2018, 11:34:22 AM
#88

Bitcoin as a leading currency right now because its decentralized currency at the same time its crypto. Bitcoin it is easy to send real money quickly to any where in the world . Bitcoin can also be used to make purchase from other commodity.
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January 21, 2018, 11:38:50 AM
#89

I doubt that Bitcoin will be the leading currency due to its high transaction fee charges. Everybody always want cost to be reduced to the nearest minimum. I doubt if Blockchain can do that. However, if Bitcoin and Blockchain can do that it could just become the leading currency.

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January 22, 2018, 09:59:01 AM
#90

Near future it could be even more who knows it. Bitcoin will be the leading cryptocurrency but for the government bitcoin will be the leading commodity that has a value and can be used as a form of payment.
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January 22, 2018, 10:33:33 AM
#91

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.


Indeed the Bitocoin is still the best and stable among other cryptocurrencies and as the mother of all Altcoins.
As you can see the trend from last 2017, it shows how Bitcoin rise up until the end of 2017.
Though, there are some dips during January, 2018 but that is normal in trading and as speculated, the price will rise up again by February, 2018 so we better to invest now and hold it until we reached the desired income in the future.
Don't be discourage is the price is going down but instead take it as opportunity to invest additional Bitcoin.

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January 24, 2018, 05:09:40 PM
#92

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.


Still bitcoin is one of the best crypto currency among the other crypto currency , the amount of it is amazing some say it just slightly goes down and unexpectedly raise up. And in the year 2017 bitcoin become or gain some popularity across the world , and bitcoin has a better price than other crypto.
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January 24, 2018, 05:12:39 PM
#93

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.


Still bitcoin is one of the best crypto currency among the other crypto currency , the amount of it is amazing some say it just slightly goes down and unexpectedly raise up. And in the year 2017 bitcoin become or gain some popularity across the world , and bitcoin has a better price than other crypto.

Bitcoin always leading in the currency. Most of the people learn more information for the future invest and finances process. Peoples now use the bitcoin for the business process. So bitcoin peices change. It increas the prices day by day. People now hold and wait for the prices incres  then invest the future for growth..
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January 24, 2018, 05:14:30 PM
#94

I hope that it will implement the lightning network soon to maintain its reputation as the #1 crypto coin... I am afraid that others might overtake it since they have better payment systems...
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January 24, 2018, 05:20:22 PM
#95

Bitcoin will not be a leading currency, there are many altcoins that are better equipped to be used as a currency. And do not forget about the issues like high fees and lengthy waiting times. Also the high volatility makes merchants who had already accepted bitcoin as payment decide to put that to an end and they are looking for another coin. Bitcoin is more of an asset to invest in.

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January 24, 2018, 05:28:24 PM
#96

Bitcoin will not be a leading currency, there are many altcoins that are better equipped to be used as a currency. And do not forget about the issues like high fees and lengthy waiting times. Also the high volatility makes merchants who had already accepted bitcoin as payment decide to put that to an end and they are looking for another coin. Bitcoin is more of an asset to invest in.

Yes, that's all right. Only what happens as the price of bitcoin falls. Other currencies are also falling, so bitcoin is the leading currency. Other currencies follow the direction set by bitcoin.

 
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January 24, 2018, 10:08:46 PM
#97

The maximum amount that will ever be mined is 21 million bitcoin yes, but It's impossible for that amount to be in circulation even when everything is mined because people are losing their bitcoins all the time and they are lost forever.

Bitcoin is unlikely to become a leading currency simply because the banking system won't let it happen. Its unstoppable but won't be the main currency for sure. As for paying using smalls amounts, that's not really where bitcoin strength shows but hopefully with Lightning Network, that would be possible.

People you have/using bitcoin are the one who stops bitcoin as a leading "currency". Because these people are using bitcoin as an investment/asset.
And technically, bitcoin and any other crypto-currency cannot replace fiat as the leading currency. Bitcoin can be the leading "alternative" currency.

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January 24, 2018, 11:36:55 PM
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Now bitcoin is the most popular and uses cryptocurrency in the world. So, bitcoin is the leading currency in the world. 1 bitcoin = maximum 11 or 12K USD. In 2018 it will be more then 14 to 18 K. So, day by day bitcoin more popular and leading currency.  Smiley Wink
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January 25, 2018, 12:47:49 AM
#99

The maximum amount that will ever be mined is 21 million bitcoin yes, but It's impossible for that amount to be in circulation even when everything is mined because people are losing their bitcoins all the time and they are lost forever.

Bitcoin is unlikely to become a leading currency simply because the banking system won't let it happen. Its unstoppable but won't be the main currency for sure. As for paying using smalls amounts, that's not really where bitcoin strength shows but hopefully with Lightning Network, that would be possible.

People you have/using bitcoin are the one who stops bitcoin as a leading "currency". Because these people are using bitcoin as an investment/asset.
And technically, bitcoin and any other crypto-currency cannot replace fiat as the leading currency. Bitcoin can be the leading "alternative" currency.
No doubt about it bitcoin today is really the leading currency because anyone  can really use it even you are not in rge same country i believe that bitcoin is really the most leading currency because it really helps anyone who really believe in it maybe  people will really experiebce the profit that is in bitcoin that is why bitcoin today is really getting more trend.
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January 25, 2018, 12:58:46 AM

Only what happens as the price of bitcoin falls. Other currencies are also falling, so bitcoin is the leading currency. Other currencies follow the direction set by bitcoin.

Not necessarily. If Bitcoin is tanking without anything pointing at more restrictions from the side of the government, altcoins as Ethereum, Dash and BCH tend to increase. Just recently the entire crypto market was tanking because of concerns (i.e. speculation) regarding South Korea shutting down its crypto exchanges. In this case the entire crypto market suffers from that, because if we look at South Korea and their effective importance in this market, it actually makes sense to cause this level of panic amongst traders. That being said, the FUD wasn't the only reason the market started to tank -- it was perfectly timed FUD that made it seem like it was the only reason for panic. Bitcoin was going to correct anyway....
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January 25, 2018, 01:07:16 AM

For my experience, bitcoin is a true leading in all currencies because the high value price of this. I have 2 years in this crypto-currencies industry and i see the movement of every coin in the market , sometimes im scared the dump of bitcoin but in a couple of a days or a weeks its going up again . Many countries accepting the bitcoin thats why bitcoin is very popular and most leading to all coins .  Cool

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January 25, 2018, 03:05:30 AM

Indeed, Bitcoin can get lost, so it will get lost. In that case in the end (at last after the mining-process is done) the BTC-supply will be a negative growth function. Are there any empirical data/maths about this decreasing process? Will this negative growth be significant for excluding "Bitcoin as a leading currency"?

For me it became slowly that bitcoin will became official currency. We hope so that it came the right time that became official currency in whole world.

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January 25, 2018, 06:21:18 AM

Bitcoin is already leading all the cryptos in the cryptoworld. If we look at the graph, bitcoin has been dominating on both attributes as to market capital, price, volume and of course the dominance bitcoin has been since it was launched by Satoshi Nakamoto.

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January 25, 2018, 11:33:06 AM

Bitcoin is already leading all the cryptos in the cryptoworld. If we look at the graph, bitcoin has been dominating on both attributes as to market capital, price, volume and of course the dominance bitcoin has been since it was launched by Satoshi Nakamoto.
As of now, bitcoin is still the king of all of the cryptocurency but there will be a time that the people will just ignore bitcoin and they will be using other cryptocurrency that is better than bitcoin and have a better specifications and as the years goes by, bitcoin needs to be competitive so it will not depend only on the community and get left behind by the futuristic cryptocurrencies.
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January 25, 2018, 03:20:20 PM

Bitcoin is as of now driving all the cryptos in the cryptoworld. On the off chance that we take a gander at the diagram, bitcoin has been overwhelming on the two ascribes as to showcase capital, value, volume and obviously the predominance bitcoin has been since it was propelled by Satoshi Nakamoto.
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January 25, 2018, 03:26:19 PM

Bitcoin will remain to be a forced to be reckoned with as long as there no other coins which is issued by the central bank and supported by the government that will help backed its demand to the people around the world that will eventually lead to it's price increase and over shadow bitcoin. But still bitcoin even though the price crash dramatically it is still continously leading the value of other alternate coins.

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January 31, 2018, 04:47:09 AM

Indeed bitcoin is still by far the leading cryptocurrency in terms of value. But being top of all crypto doesn't mean that bitcoin is the best of all. It still depends on the community or investors on what is best crypto for them. Some people will just ignore bitcoin and they will be using other cryptocurrency that has a better specifications and maybe a lot more convenience for them to use.
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January 31, 2018, 08:19:05 AM

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.

Bitcoin is not only as a top currency, but its price is the highest in the virtual currency because bitcoin is a leader in the commercial field and is of great interest and response, the influence of Bitcoin is widely spoken. that in the future it will replace the dollar

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January 31, 2018, 08:39:29 AM

Affirmative. Bitcoin is the leading currency of all time not only in the crypto world but also in fiat because of its value, market and demand. Even its value drops down in the past few days, it remains on top not only on top but too far gap compare to its second.
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January 31, 2018, 09:18:07 AM

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.



yes, bitcoin maybe the king of all the crypto currencies that are currently present and may stay as king for a very long time. but saying bitcoin will become a main currency for any country is a bit too far of a stretch. while i completely agree that bitcoin really does satisfy the necessary conditions, i still really don't think that it can replace any main currency yet. heck, i don't even think that it will be possible for bitcoin to become something like that. it is pretty obvious as to why. it is simply because there are just too many things that needs to be considered plus the fact that a lot of people are really pushing against bitcoins and all other cryptos because of personal reasons.

you see, i too believe in bitcoin. i actually love its rich history and ideologies.
which is why i am still here. trying to get a hold of as much bitcoins as i can.
but i just cannot see bitcoin as a main currency, it is just something that is
completely impossible. but still, anything can happen. so we'll just have to
wait and see.

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January 31, 2018, 09:49:04 AM

Indeed, Bitcoin can get lost, so it will get lost. In that case in the end (at last after the mining-process is done) the BTC-supply will be a negative growth function. Are there any empirical data/maths about this decreasing process? Will this negative growth be significant for excluding "Bitcoin as a leading currency"?

Since bitcoin has limited supply in nature, Time after time btc will consistently surge up and becomes the most dominant crypto currency ever, As early as possible we should hold our btc wisely.
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January 31, 2018, 09:54:04 AM

For my opinion yes Bitcoin is the leading currency right now and it is the most trusted currency when it comes to investing .Bitcoin is the most popular crypto because of its rate or value that is continuously increasing .
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February 02, 2018, 11:12:01 AM

Indeed bitcoin is still by far the leading cryptocurrency in terms of value. But being top of all crypto doesn't mean that bitcoin is the best of all. It still depends on the community or investors on what is best crypto for them. Some people will just ignore bitcoin and they will be using other cryptocurrency that has a better specifications and maybe a lot more convenience for them to use.
These are some stances on which someone can be evaluated. For the bitcoins to be the best currency go the world, it definitely requires the whole world to accept it as soon as possible and give it legalizing authority to be used at any stage go life. But this isnt the case, bitcoins are continuously banning in different countries due to some reasons. But still, it is on the top in crypto world.
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February 02, 2018, 11:20:41 AM

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.

I believed that bitcoin can be the leading currency because only bitcoin has the highest price than ever i know currency. Even bitcoin can experience a falling down to its price but its still higher because i bitcoin is higher because no one currencies of the nation can be leveled by bitcoin price because it is too much high . So that i believed and i surely assure that bitcoin can be able to become a leading currency through all over the world.
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February 02, 2018, 06:35:43 PM

For my opinion yes Bitcoin is the leading currency right now and it is the most trusted currency when it comes to investing .Bitcoin is the most popular crypto because of its rate or value that is continuously increasing .

It is the leading currency through the largest capitalization and the amount of people who are still ready to invest into it. Almost all have heard about Bitcoin, but a very few people still know about alts. Thus, BTC is a leader.
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March 07, 2018, 11:45:53 AM

In my opinion bitcoin is a leading cryptocurrency, not currency now. But it's good question, coz maybe in the future the value of btc will increase much and who knows what will be after 5years?

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March 07, 2018, 12:11:20 PM

In my opinion bitcoin is a leading cryptocurrency, not currency now. But it's good question, coz maybe in the future the value of btc will increase much and who knows what will be after 5years?
Bitcoin is very demand for people because of the price. Bitcoin is the number one leading in terms of currency. Its very trusted about this currency due to the securities and very reliable site. In all time of my life ,this currency has a good future than other currency .Even a lot of discrimination, bitcoin is totally  doing good in prices and thoughts in country .
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March 15, 2018, 04:18:41 AM

For states, currency is one of the elements of sovereignty. Regulation (weakening) of the exchange rate allows us to make our products competitive in international markets. Not many states with weak economies will agree to switch to bitcoin.

The deflationary model of bitcoin will reduce the volume of investments, although their quality will be higher.

In my opinion, the function of bitcoin is the preservation of the cost of savings - an analogue of precious metals.
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March 15, 2018, 05:43:48 AM

Well we can say that bitcoin is the king of all coins, and also even if there is a thousand icos or alt  coins around the crypto word. Still bitcoin is number one, the bitcoin price is much much more though well you can see it as of now its increasing and lot of predictors and analysis been talking about the bitcoin as a currency on the near future.

 
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March 15, 2018, 06:50:20 AM

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.

They say it is leading currency because bitcoin now is the king of all coins  it is leading because a lot of people now are keep working in it

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March 15, 2018, 06:55:03 AM

  • Sovereignty
  • Stabililty
  • Scalability

About stability Bitcoin has no stability because its price goes up and down whenever and now it is going down, maybe it will collapse.
But regarding the total amount of supply that is fixed, it can not be added, as is the stability of the quantity produced.

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March 15, 2018, 09:18:26 AM

When you look at the market bitcoin still the one leading and next is etherium and i think no one can surpass on it. Because bitcoin was always using to the people in the other country even on my country also bitcoin was known always.

 
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March 16, 2018, 07:19:54 AM

                    If you say bitcoin is a leading currency in a cryptocurrency too.because everyone agree but if you say about comparing bitcoin and a dollar or Euro then the bitcoin is out dated yo defeat everyone fiat money controls a government and basically get out of bounds so there just  created much while the bitcoin also gets limited so won't be enough for bitcoin to dominated fiat and of course the government do not really agree with those another idea of bitcoin become a leading currency .
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March 16, 2018, 01:53:56 PM

We can make known that bitcoin is each and every one popular today and it always appeared in social medias. Gaining those leadership to become concerning top amid new currencies is definitely amazing. But I dbbbvcon't think that it will be upon summit for long, in front the definite idea supply of bitcoin are in the region of mined in which it could in fact produce a consequences bitcoin's price. And we can't denied that USD is having a deafening fund and behind unqualified supply, and it was supported by all countries as a global currency unlike bitcoin. Possible that bitcoin will step aside and USD will pretend to have focus on happening after bitcoin. 
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March 17, 2018, 08:34:22 AM

The economic reach of Bitcoin is an interesting subject of discussion. In the end there will be a maximum of 21.000.000 BTC. BTC is a eight-digit number.
I suppose that a currency can only be leading if it has the possibility ta pay in small amounts, equivalent tot e.g. dollarcent or eurocent. This statement limits the range of BTC, will the satoshi be the future euro/dollarcent?
In that case the maximum money supply wil be BTC 21.000.000,00000000 is e.g. EUR 99.999.999.999.999,99 (by the way: interesting exchange rate).
The money supply in the Eurozone (M3) is over EUR 10.000.000.000.000
So without any constraints, the structure of the BTC satisfies the necessary condition.
Let's inventory the other constraints.

Bitcoin is the number one cryptocurrency and has been the first since the world came to realize cryptos. Well, you can say its because it was the first to be released.But when considering everything that has to do with the market, Bitcoin is not the number one. But it has been able to maintain a good position.

 
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March 17, 2018, 10:05:48 AM

We can't really say for now, because of the state in which bitcoin is now; with the current rise and fall in it's value and countries not legalising it to be a currency spent in our daily activities, also coupled with the fact that it has to withstand a very high competition with major currencies like USD, YN, EUR. So, we can't really see it as a leading currency even though it's pretty profitable; the pressure on this currency is too much already.
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March 20, 2018, 08:28:31 AM

We can make known that bitcoin is each and every one popular today and it always appeared in social medias. Gaining those leadership to become concerning top amid new currencies is definitely amazing. But I dbbbvcon't think that it will be upon summit for long, in front the definite idea supply of bitcoin are in the region of mined in which it could in fact produce a consequences bitcoin's price. And we can't denied that USD is having a deafening fund and behind unqualified supply, and it was supported by all countries as a global currency unlike bitcoin. Possible that bitcoin will step aside and USD will pretend to have focus on happening after bitcoin. 

Bitcoin is far better than all the national currencies of the world and USD has been facing a tough time due to EURO for a long time now. Bitcoin is better than both of them.

It is the future of money and some day in the future, it will take over all other currencies, whether digital or physical. It has been ruling the digital market for a decade now and this shows how much powerful and valuable it truly is.

 
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rancidgash
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March 20, 2018, 08:39:44 AM

We can make known that bitcoin is each and every one popular today and it always appeared in social medias. Gaining those leadership to become concerning top amid new currencies is definitely amazing. But I dbbbvcon't think that it will be upon summit for long, in front the definite idea supply of bitcoin are in the region of mined in which it could in fact produce a consequences bitcoin's price. And we can't denied that USD is having a deafening fund and behind unqualified supply, and it was supported by all countries as a global currency unlike bitcoin. Possible that bitcoin will step aside and USD will pretend to have focus on happening after bitcoin. 

Bitcoin is far better than all the national currencies of the world and USD has been facing a tough time due to EURO for a long time now. Bitcoin is better than both of them.

It is the future of money and some day in the future, it will take over all other currencies, whether digital or physical. It has been ruling the digital market for a decade now and this shows how much powerful and valuable it truly is.
Bitcoin is first decentralized currency now an accepted form of payment in dozens of countries around the world. As more countries begin to adopt this innovative technology, its clear that Bitcoin has the potential to become the new global currency not tied to a specific country or central bank.
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March 20, 2018, 08:57:17 AM

Yes bitcoin right know is leading all crypto currencies then still bitcoin surpass and dominating the crypto world. If we based the price of any crypto currencies bitcoin is the number one but if we based on stock maybe etherium is bigger than bitcoin. Bitcoin has a stock supply of 21 million bitcoin while etherium is 2 billion etherium.
ajochems
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