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Author Topic: BTC as a national currency?  (Read 7635 times)
BlackLiSS
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August 22, 2017, 06:45:43 PM
 #161

Bitcoin can not be a national currency. Bitcoin does not come from just one country. A national currency, this is the official currency of any country, and only this country can print this currency.
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August 22, 2017, 07:09:48 PM
 #162

I don't believe any country in the world will take bitcoin as a national currency because, the idea for the creation of Bitcoin is anonymity and decentralization and so, anything that will lead to centralization of bitcoin or been control by the government will contradicting the original idea behind its creation.

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August 22, 2017, 07:35:59 PM
 #163

If I woke up to this news, that BTC was made the national currency of a country, WOW, my day would be made. I doubt it is going to happen in the short term however, but in the future? You never know. Anything is possible in this messed up, crazy timeline.

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August 22, 2017, 07:45:21 PM
 #164

I don't believe any country in the world will take bitcoin as a national currency because, the idea for the creation of Bitcoin is anonymity and decentralization and so, anything that will lead to centralization of bitcoin or been control by the government will contradicting the original idea behind its creation.
Yeah, I think we should call Bitcoin is international currency better than for just in small place like in a country. Because with the definion of Bitcoin, we also understand Bitcoin is decentralization and nobody can control it.
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August 22, 2017, 07:51:20 PM
 #165

Bitcoin will never be a national currency unless some country decides they do not want to control the money which is almost guaranteed not to happen because every goverment wants control.



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August 22, 2017, 08:33:23 PM
 #166

So as far as we know BTC currency is growing wide, do you think there will be when it become a national currency?If yes, why?If not, why?


A national currency for which country if I may ask? I don't see it happening, it may be used side by side with a countries local currency, but that is were it ends.
National currency for any country who wants to adopt it! But as you said, there are minimum chances that any country will adopt bitcoins as their national currency. These digital currencies can be used simultaneously with conventional countries to make transactions faster. Bitcoins can be given a status of secondary currency in any state.

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August 22, 2017, 08:39:59 PM
 #167

Bitcoin will never be a national currency unless some country decides they do not want to control the money which is almost guaranteed not to happen because every goverment wants control.
Any country can use it as a secondary currency right Cheesy ,Japan is doing it and some of the countries that legalized it recently are doing that,they started accepting bitcoin,so there is nothing wrong in it as it could actually happen.

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August 22, 2017, 09:00:47 PM
 #168

So as far as we know BTC currency is growing wide, do you think there will be when it become a national currency?If yes, why?If not, why?

Something like that might happen in the future. But it is very unlikely that it will happen in the near future. The money is consequently proportional to power.
Those who have power will not allow it. But I want this to happen.

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August 23, 2017, 02:22:50 AM
 #169

No, it will never be any country's national currency. First of all, all country's are already stable in using their currency, an actual and non-digital currency. Also, a lot of digital currencies are also coming which may weaken the Bitcoin rates.
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August 23, 2017, 06:18:16 AM
 #170

No, it will never be any country's national currency. First of all, all country's are already stable in using their currency, an actual and non-digital currency. Also, a lot of digital currencies are also coming which may weaken the Bitcoin rates.

If one country legalizes bitcoin as their currency, it will last a lifetime in this country and make this coin centered, not very good, but if it is considered a common currency would be very good, so far we know the euro currency, if it applies on bitcoin then it will be the best solution


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August 23, 2017, 06:30:42 AM
 #171

I think that bitcoin can be a legal form of payment in a nation.
But it can not be the only currency in a nation.
A country has to be able to controle and influence its currency in order to react on changing economical conditions.
With bitcoin that is not possible.

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August 23, 2017, 10:14:13 AM
 #172

I think that bitcoin can be a legal form of payment in a nation.
But it can not be the only currency in a nation.
A country has to be able to controle and influence its currency in order to react on changing economical conditions.
With bitcoin that is not possible.
If a country want to change economical conditions then it doesn't need to control or influence its currency because it doesn't to dictate a currency because the people will be the first movers to change economical conditions and if they will make bitcoin as a national currency then it can attract a lot of income because a single amount of bitcoin can purchase a lot of item which will be going into the income of the country.

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August 23, 2017, 10:17:53 AM
 #173

So as far as we know BTC currency is growing wide, do you think there will be when it become a national currency?If yes, why?If not, why?
It may spread or grow worldwide but the thing you are mentioning here wont really be possible in upcoming years to come on bitcoin.It wont really be considered as a national currency thinking off that we do have lots of local fiat currencies and i dont think that government wont really just consider or easily switch into a decentralized thing which is bitcoin,It would just still remain as an digital currency i strongly believe on that one.

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August 23, 2017, 11:17:51 AM
 #174

I don't think any country in the world will take bitcoin as an "official" currency because of it's volatility and unpredictability, as well as how hard it is for the government to control such a currency
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August 23, 2017, 11:26:59 AM
 #175

Bitcoin will always be an alternative currency for the people. The government will never recognize it as the official currency. But it seems to me that the less the state interferes in the circulation of bitcoins the more popularity will have bitcoin.



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August 23, 2017, 11:30:32 AM
 #176

Bitcoin can not be a national currency, because it is anonymous and created by one developer, not a whole state. No one will make a national currency out of it either because of its volatile price.

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August 23, 2017, 11:34:11 AM
 #177

Bitcoin into the national currency. I think not, with the replacement of the currency konpensional by bitcoin that means everyone in the must transact using virtual currency, it means everyone in must use bitcoin, while to join in bitcoin we must have its media, that is computer or smarphone, while For middle and lower society do not have the media. I think it will be difficult.

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August 23, 2017, 12:13:57 PM
 #178

Nah, I honestly don't think that BTC is stable enough to become a national currency, the market value of BTC is too volatile and investors, stock traders who currently deal with fiat will be in no way happy to see the introduction of BTC as the major player instead of their fiat. They would almost certainly make huge losses, and on the point of view of the whole country, the economy of the country would take a huge dip if suddenly the value of BTC struck the ground.

First BTC needs to achieve quite a bit of stability to be even considered as a possible national currency, and even then I think as governments won't be able to regulate BTC usage, tax it and stuff, they won't introduce it as an official national currency.

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August 23, 2017, 01:36:39 PM
 #179

That’s actually going to be a dream come true but its going to be very hard to come to pass. No nation would ever agree to let go off its own currency and then pick up a currency in which even the inventor isn’t known.

pedrog
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August 23, 2017, 02:16:53 PM
 #180

So as far as we know BTC currency is growing wide, do you think there will be when it become a national currency?If yes, why?If not, why?

It cannot, the same way gold isn't used by any nation state and all sovereign currency is detached from gold prices, it leaves the country currency vulnerable to market forces and manipulation way beyond the country's control.

Gold backed sovereign currency caused many problems for the countries who used at some point, the same will happen if a country adopts bitcoin as currency.

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