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Author Topic: Bitcoin as a leading currency?  (Read 13102 times)
Eugenar
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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 that’s 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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kolbalish
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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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