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Author Topic: Bitcoin as a leading currency?  (Read 13102 times)
Wellyan
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June 05, 2019, 12:21:54 PM
 #181

I believe that bitcoin's economic potential is huge and it may be a leading currency in some countries in future, but many governments would do all they can to stop it to be a leading currency, as they don't want to lose financial control of their economy.
maybe the main currency in the crypto currency today to be the main currency of a country's currency is very difficult because there are still many countries that prohibit crypto currencies from developing freely for their development, but all possibilities can occur with the development of time and technology
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June 05, 2019, 12:54:34 PM
 #182

I believe that bitcoin's economic potential is huge and it may be a leading currency in some countries in future, but many governments would do all they can to stop it to be a leading currency, as they don't want to lose financial control of their economy.
maybe the main currency in the crypto currency today to be the main currency of a country's currency is very difficult because there are still many countries that prohibit crypto currencies from developing freely for their development, but all possibilities can occur with the development of time and technology
right, Bitcoin is the only leader in the crypto world, and I think its contribution to the economy, has no major effect. but we all hope that many countries will legalize it, so that bitcoin returns to its main function

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June 05, 2019, 01:35:40 PM
 #183

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.


We don't know if the 21 million will be circulated at the end of the mining, remember Nakamoto holds 1 million Bitcoin and we do not know if this amount of Bitcoin will ever move and there are those who lost from owner's mismanagement, there should be a study on the full circulation of Bitcoin or some sort of inventory.

 
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June 05, 2019, 02:30:46 PM
 #184

Bitcoin was, bitcoin is, bitcoin will be the leading coin in crypto. Nothing new in crypto to see fud, spam and almost everything else, just remember how many times bitcoin died here on forum, and what`s happened from all that!? Bitcoin is still number one, bitcoin is still making progress, bitcoin continues to live and survive in this cruel world.
What will be the next year!? We can expect higher prices, no matter what we read or hear, it`s enough to look at the charts and see the truth!

 
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June 05, 2019, 03:07:57 PM
 #185

Bitcoin won't be a leading currency because banks and government will disrupt it. We all know that banks and government have increased regulation for the cryptocurrency.
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June 05, 2019, 03:50:31 PM
 #186

I believe that bitcoin's economic potential is huge and it may be a leading currency in some countries in future, but many governments would do all they can to stop it to be a leading currency, as they don't want to lose financial control of their economy.

If majority of the government make it legal then btc could outshine many of the currencies that does exists and also the use and demand will rise very high leading to the easily acceptance by merchants as a payment mode as well. This will be a big boost to business and small entrepreneurs as well.


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June 06, 2019, 09:46:05 AM
 #187

I believe that bitcoin's economic potential is huge and it may be a leading currency in some countries in future, but many governments would do all they can to stop it to be a leading currency, as they don't want to lose financial control of their economy.

I don't think that will always matter.

There is a lot of government of countries that accepted Bitcoin and other cryptocurrencies. They are not just legalizing it in countries, they are also making moves for people to use it. In our country, there are even Bitcoin ATMs now, although I don't know if that is still functioning since a few only uses it, it proves not all of them dislike Bitcoin and cryptocurrencies.

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June 06, 2019, 10:05:45 AM
 #188

Bitcoin won't be a leading currency because banks and government will disrupt it. We all know that banks and government have increased regulation for the cryptocurrency.

No they dont regulate crypto because cryptos are unctrollable but they did allow and support the use of crypos including bitcoin on some developing countries  . however your right that bitcoin cant still be considered as a leading currency because bitcoin still lacks of important features like for example bitcoin cant be touch and we cant use it physically offline without internet or electricity  .  bitcoin is only leading  on the crypto world

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June 06, 2019, 05:07:15 PM
 #189

The government and the banks won't allow the system of digital currencies to rule the world. Even if digital assets are more efficient, low cost and more secure, they won't allow it to happen simply because they have no control over it. And in the future for sure, cryptocurrencies like bitcoin will be the most effective form of doing financial transactions.
Banks really disagree with the existence of bitcoin. they consider this to be their competitor because of the blockchain that makes every transparent transaction able to create a new system that is more trusted.
Implementation is almost certain that each country will be different because not all countries can accept it as a legal payment instrument or even no recognition. although crypto is actually easier to use. because regulations are still not comprehensive, there are still difficulties in their implementation, so there will still be some obstacles.
I don't think bitcoin is easier to use during the adoption process and regulations have not been made for bitcoin. as long as there is no regulation and the ban is still everywhere, the use of crypto will certainly not be as easy as using fiat, bitcoin will not become the leading currency if the legalization of bitcoin has not occurred
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June 06, 2019, 05:47:29 PM
 #190

We don't know if the 21 million will be circulated at the end of the mining, remember Nakamoto holds 1 million Bitcoin and we do not know if this amount of Bitcoin will ever move and there are those who lost from owner's mismanagement, there should be a study on the full circulation of Bitcoin or some sort of inventory.
There are some problems with doing something like that, I understand the desire to know exactly how many coins are actually available and how many of them are lost, but even if you could track all the coin movements during the last year this will not tell you if the coins that have not moved during that time frame are lost, there are many long term holders that are storing their coins in paper or hardware wallets that have no intention of moving them in years or decades, so the figure you could get will be inexact at best.



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June 06, 2019, 07:50:33 PM
 #191

Bitcoin was, bitcoin is, bitcoin will be the leading coin in crypto. Nothing new in crypto to see fud, spam and almost everything else, just remember how many times bitcoin died here on forum, and what`s happened from all that!? Bitcoin is still number one, bitcoin is still making progress, bitcoin continues to live and survive in this cruel world.
What will be the next year!? We can expect higher prices, no matter what we read or hear, it`s enough to look at the charts and see the truth!

I am sure that the leadership would change should take a very long time, as well as the market itself should be subject to certain changes not only associated with the circulation of bitcoin arrays. However, I fear this is only an assumption that is not destined to come true.

 
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June 07, 2019, 06:46:32 AM
 #192

The government and the banks won't allow the system of digital currencies to rule the world. Even if digital assets are more efficient, low cost and more secure, they won't allow it to happen simply because they have no control over it. And in the future for sure, cryptocurrencies like bitcoin will be the most effective form of doing financial transactions.
Banks really disagree with the existence of bitcoin. they consider this to be their competitor because of the blockchain that makes every transparent transaction able to create a new system that is more trusted.
There is no pint disagreeing with what they basically know that is impossible for them to control, them disagreeing with the system doesn’t change things or that fact that people will continue to use the system with or without them. The least they would have just done is to see how the system can be regulated and how they can also work with the system.

Human beings are so easy to deal with, they just need to create a system that will give them confidence and at the same time, still be able to have control a little bit over it, but they would not want to explore that option because of their greed and the money they from the illegal charges.

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June 07, 2019, 07:23:32 AM
 #193

I see BTC more as a future store of value, like a digital gold bar... besides the obvious opposition of the banking system, that will undoubtedly create their own bank/governmental coins, there is the matter of the scalibility needed to preform millions of small transactions... there are a few alts moving that way, but not BTC (Lightning network still has a lot to show, and will remain a patch)

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June 07, 2019, 09:03:00 AM
 #194

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.

And yes, it does get more and had made up to the ATH on 2017 which rose up to 19K USD.

Probably it could go for more this time as the year 2019 for bitcoin for another bull run hoping that it could go for more this time as it will going to reach more or less 20K USD per BTC.

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June 07, 2019, 11:31:00 AM
 #195

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.

And yes, it does get more and had made up to the ATH on 2017 which rose up to 19K USD.

Probably it could go for more this time as the year 2019 for bitcoin for another bull run hoping that it could go for more this time as it will going to reach more or less 20K USD per BTC.
We already had bull run this year, and who knows is this the end or we will see price crossing $10k for the first time this year. Anyway, what ever happens this year will be a good ground for the next year, I dont expect to see  new ath this year, its more likely to happen next year!
In next couple years, after halving, price can reach $50k or $100k, who knows maybe more.

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June 07, 2019, 03:06:38 PM
 #196

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.

Well im sure it would be really bad, BTC is already become a leading cryptocurrency and its make the market so volatile cause almost all coins are following the bitcoin price. I do think its not health for crypto company cause they could be drag down by the bear market. I do believe we still need a stable coins as a leading currency instead of bitcoin.

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June 07, 2019, 09:02:03 PM
 #197

Sense It is not possible if this bitcoin becomes the main currency because there are still many countries that have their own currencies and international world currencies are still held by the dollar and the like and most of the countries do not trust bitcoin as a currency because this bitcoin has no real form at all  , so it is difficult for people to believe it

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June 07, 2019, 11:58:11 PM
 #198

I see BTC more as a future store of value, like a digital gold bar... besides the obvious opposition of the banking system, that will undoubtedly create their own bank/governmental coins, there is the matter of the scalibility needed to preform millions of small transactions... there are a few alts moving that way, but not BTC (Lightning network still has a lot to show, and will remain a patch)

well, this is because the total supply of bitcoin is very limited and the influence of bitcoin demand is very high so that it will make bitcoin one of the alternatives to save the money you have into bitcoin, but you have to be careful when putting your money in bitcoin because nobody know how the conditions of bitcoin in the future.
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June 08, 2019, 12:10:55 PM
 #199

yea , it can be mined at all , but the circulation will not as like that , there r much bitcoin are saved on cold wallet and that hardware was lost

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June 08, 2019, 03:08:56 PM
 #200

Sense It is not possible if this bitcoin becomes the main currency because there are still many countries that have their own currencies and international world currencies are still held by the dollar and the like and most of the countries do not trust bitcoin as a currency because this bitcoin has no real form at all  , so it is difficult for people to believe it
If what is meant is money as a means of physical payment, of course the most important thing is the US dollar, because it can be accepted as a means of payment throughout the world. Besides that the US dollar is not too volatile like bitcoin.
But for digital currencies, bitcoin is in a prime position to be used in countries that have legalized cryptocurrency. Bitcoin is the most popular because in addition to being a payment tool, Bitcoin is also traded or a profitable investment in the future.

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