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Author Topic: BTC as a national currency?  (Read 11771 times)
KennyR
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August 23, 2017, 02:22:54 PM
 #181

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.
Well that's true, governments never recognize bitcoin to be a national currency rather than few countries that are good in  the technology advancement. If the governments start making it a national currency surely it tries to manipulate the price for economic growth of the country. In this regard I always think that bitcoin will be accepted as an alternative for traditional fiat.


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August 23, 2017, 02:26:21 PM
 #182

The problem in bitcoin being a national currency is that it can't be used by all and can't be used anytime. People without internet especially those in the 3rd world countries would have a hard time using it.

No country would be insane enough to do this i think.  There are far to many risk like the country's wallet getting hacked or illegal transactions booming.Bitcoin i just fine as it is alongside fiat.

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August 23, 2017, 03:49:13 PM
 #183

Currency cryptocurrency or bitcoin in my opinion will not be able to replace the state currency, because if bitcoin will take over the country's currency the government will certainly act immediately to stop bitcoin.

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August 23, 2017, 05:32:22 PM
 #184

No, a decentralized currency will never be a national currency whose transactions are anonymous and there isn't any interference of government. Bitcoin is pioneer in cryptocurrency world and is one of the best investment for the future but it doesn't mean that it will be accepted as a national currecny, no government will ever do it.



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dmamigo
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August 23, 2017, 06:45:07 PM
 #185

No, a decentralized currency will never be a national currency whose transactions are anonymous and there isn't any interference of government. Bitcoin is pioneer in cryptocurrency world and is one of the best investment for the future but it doesn't mean that it will be accepted as a national currecny, no government will ever do it.

Government won't let that happen really, though its not fully anonymous and even if government uses it or accepts it.
Bitcoin can co exist with the specific centralized currency for sure and it will, but it can never be a national currency. It will effect the economy system of the entire world even if one country does it.

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August 23, 2017, 07:23:44 PM
 #186

Nope, not bitcoin and not of any existing country atm. Why would you implement currency, as a national currency, that's so volatile and unstable and when everyone else can mine it. Those are the first things that come to my mind on why not. Also, sure there might be a cryptocurrency implemented as a national currency, but it most likely won't be bitcoin. Probably some new alt-coin.

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August 23, 2017, 08:55:10 PM
 #187

Currency cryptocurrency or bitcoin in my opinion will not be able to replace the state currency, because if bitcoin will take over the country's currency the government will certainly act immediately to stop bitcoin.
This decision pretty much depends on the public of that country. If people are quite fond of this currency and are ready to treat it as state currency, I don’t think so there would be nay problem in doing so. But what my experience and history says is that it could be used as secondary currency by any state.

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August 23, 2017, 09:04:56 PM
 #188

Currency cryptocurrency or bitcoin in my opinion will not be able to replace the state currency, because if bitcoin will take over the country's currency the government will certainly act immediately to stop bitcoin.

It won't be replacing the state currency but for us who are in the community we can just proclaim bitcoin in our jurisdiction as a national currency even without legislation by the law. And suddenly they will be recognizing it and they can't do something about it as we are only proclaiming it as a national currency inside the community.

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August 23, 2017, 09:08:28 PM
 #189

For me bitcoin is worldwide currency that people will use here in the internet and to the stores that accept bitcoin as a payment.
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August 23, 2017, 09:47:19 PM
 #190

Also, sure there might be a cryptocurrency implemented as a national currency, but it most likely won't be bitcoin. Probably some new alt-coin.

It surely will be a completely new currency tool - one that's completely centralized and where the government has the ability to freeze and seize any actual balance with just a few mouse clicks. Another factor is that every coin/token you spend trough their network, will have all your personal information attached to it, and from there the government can follow/track all your movements, purchases, etc. It can even prevent you from donating or paying to whatever entity. It will give people an ultimate form of convenience, but they will have to pay a very heavy price for that. I would never make use of something like that, and neither should others - financial freedom is the goal to aim for, and not going backwards.

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August 23, 2017, 11:03:45 PM
 #191

It will really be fascinating . The first introduction would really take that particular country like storm, people would initially find it difficult to acclimatize. Enough orientation would go in, confidence would need to be built vis -a - vis / security of the currency and overall ,looting by the government won't start immediately. This I foresee.
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August 24, 2017, 08:18:53 AM
 #192

Currency cryptocurrency or bitcoin in my opinion will not be able to replace the state currency, because if bitcoin will take over the country's currency the government will certainly act immediately to stop bitcoin.
it will be good to have bitcoin as our national currency but bitcoin is not having that much popularity yet because still in a lot of countries bitcoin is still growing and soon it will be most popular currency because it is being accepted in several countries and it will make bitcoin a legal currency for sure and the price increases the value so it is not so difficult yet.

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August 24, 2017, 08:29:13 AM
 #193

I wouldn't like that bitcoin is tied only to one or few countries who will have it as their national currency, I don't think something like this was originaly planed. No matter that being a national currency wouldn't stop bitcoin being used in all other countries I believe that bitcoin belongs to everyone and shouldn't in any way be tied just to some countries because that would also have other consequences. 
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August 24, 2017, 11:37:04 AM
 #194

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?


BTC is a national currency. but it has increased, our country national currency Tk, if BTC is legal than this can do our national currency,

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August 24, 2017, 11:44:47 AM
 #195

Bitcoin will never become a national currency. No country will want to accept it as a national currency because of too high and unstable prices. Each country already has its own national currency, which they are proud of.

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August 24, 2017, 11:51:29 AM
 #196

Bitcoin will never become a national currency. No country will want to accept it as a national currency because of too high and unstable prices. Each country already has its own national currency, which they are proud of.

Ton of countries now accepting bitcoin in their place and sort of there are few countries makes a bill about the bitcoin, it is still capable of being a national currency on a country because of its price and demand, if the demand will go up then that is the time i think they will likely to do a research if it is capable. The price is volatile yes but that is the characteristics of bitcoin and the best is it will go up more

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gabmen
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August 24, 2017, 12:26:49 PM
 #197

Bitcoin will never become a national currency. No country will want to accept it as a national currency because of too high and unstable prices. Each country already has its own national currency, which they are proud of.

Ton of countries now accepting bitcoin in their place and sort of there are few countries makes a bill about the bitcoin, it is still capable of being a national currency on a country because of its price and demand, if the demand will go up then that is the time i think they will likely to do a research if it is capable. The price is volatile yes but that is the characteristics of bitcoin and the best is it will go up more
The very nature of bitcoin would not allow any government to adopt it as national currency. It can't be controlled by the government. For the demand that btc generates, some countries have accepted and is promoting its use but not to the point of it becoming a ntional currency

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August 24, 2017, 12:33:57 PM
 #198

No, a decentralized currency will never be a national currency whose transactions are anonymous and there isn't any interference of government. Bitcoin is pioneer in cryptocurrency world and is one of the best investment for the future but it doesn't mean that it will be accepted as a national currecny, no government will ever do it.
I do agree with you. No matter how great bitcoin or the cryptocurrency can be, the government will never accept them as a national currency because it is anonymity and it protects the users's Identity while the government requires more. They want the ID from all citizens so that they can easily control the world and their economic system state Wink

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August 24, 2017, 12:47:48 PM
 #199

Assuming one country would adopt the current Bitcoin as a national currency. This would mean that all the goods and services that you can acquire on the national soil would be payable only with Bitcoins.

I would assume that the drawbacks of a transborder currency (such as EUROS) would scaled proportionnally to the worldwide nature of Bitcoins. Because this would mean than, apart from having no control over the currency itself, this country would be tied by the Bitcoin economy occuring outside of its boundaries. When I refer to EUROS, this is what is happening currently between EURO zone countries yearning for increasing the money supply for developement, and the EURO countries drying the economy for securing savings value.

This would create to much impediments for the national economy to develop accordingly with its needs and ambitions.
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August 24, 2017, 01:14:07 PM
 #200

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?

did you mean a national currency is a currency on just one country? Or whole country in the world? I thought maybe someday bitcoin will replace dollar as a international currency and Everyone know what bitcoin is, just like a dollar. But it will be happen if there's already at least 30% people in this world have know and using it.
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