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Author Topic: BTC as a national currency?  (Read 7229 times)
justdimin
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August 25, 2017, 07:06:08 PM
 #201

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.
Why government act immediately to stop bitcoin ?
I mean is there any trouble for them or they want to make his national currency continue? But any way I think bitcoin will never be a national currency because bitcoin work good on global level, they unique state can’t be able to maintain that popularity of bitcoin, so it work good just the way it is.

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August 25, 2017, 10:51:02 PM
 #202

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?
Maybe yes, if bitcoin become legalise most of the country accept this because of uses and benefits coming from bitcoin. My point is bitcoin is beneficial to us, due to their price, many of us survived in their daily needs, it is one who can help in our economy.

They need a long time before it happen, they need allot of user to become one of the national currency. They need a good images to the old user to hold this currency.

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August 25, 2017, 10:56:04 PM
 #203

Bitcoin is "legal" in most countries. Its just not the national currency. Countries would be stupid to give away their fiscal policy.

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August 26, 2017, 07:45:43 AM
 #204

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. 
Nope, there is nothing to worry about if some country is making bitcoins as their national currency. This would not limit bitcoins just to that particular country. Rather it will make bitcoins more famous and increase their worth. Bitcoins are for everyone and this act will not change this fact in any way.


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August 29, 2017, 06:21:13 AM
 #205

There’s no country actually going to accept that as a currency other than its own and even if its going to do there would be a lot of regulations before anyone can use it freely.

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August 29, 2017, 06:30:24 AM
 #206

I hope bitcoin to be accepted in all countries as a legitimate means of exchange. we do not need to redeem fiat money into money exchange services. if bitcoin can be used to buy plane tickets is great.

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August 29, 2017, 06:40:41 AM
 #207

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?

I guess, it cannot be good as national currency because not all people in the world don't want to get involve in the digital world. it is not back by physical asset or gold or any valuable metal stone.

                             
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August 29, 2017, 06:43:16 AM
 #208

I hope bitcoin to be accepted in all countries as a legitimate means of exchange. we do not need to redeem fiat money into money exchange services. if bitcoin can be used to buy plane tickets is great.
                      It is not that easy, and it will take time to have progress, besides bitcoin yet has a lot to improve. Right now bitcoin is still being talked to so many forums and anywhere, they can see great potential to it as well as us here. In different perspective i think if bitcoin will be legally accepted in the economy and it would be approved by the government, i think  we would have to pay more fees because of taxes they put upon.

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August 29, 2017, 06:44:39 AM
 #209

A truly decentralized currency is the real concept behind Bitcoin. It wouldn't be as popular as today if it is centralized and regulated like normal currency. Remember Silk Road online marketplace that help push the popularity of bitcoin?
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August 29, 2017, 08:03:25 AM
 #210

I hope bitcoin to be accepted in all countries as a legitimate means of exchange. we do not need to redeem fiat money into money exchange services. if bitcoin can be used to buy plane tickets is great.
                      It is not that easy, and it will take time to have progress, besides bitcoin yet has a lot to improve. Right now bitcoin is still being talked to so many forums and anywhere, they can see great potential to it as well as us here. In different perspective i think if bitcoin will be legally accepted in the economy and it would be approved by the government, i think  we would have to pay more fees because of taxes they put upon.

If bicoin is taxed by the government, it's beyond the concept of bitcoin whitepaper. which carries a free transaction. and peer-peer direct transactions

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August 29, 2017, 08:10:23 AM
 #211

No I don't think bitcoin can become a national currency because there is only limited number of bitcoin and I don't think it can sustain the demand in the market and also if it will become a national currency many country may not accept bitcoin the way it is accepted now.

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August 30, 2017, 07:01:23 AM
 #212

No I don't think bitcoin can become a national currency because there is only limited number of bitcoin and I don't think it can sustain the demand in the market and also if it will become a national currency many country may not accept bitcoin the way it is accepted now.

Yep! It is quite absurd to think of bitcoins as national currency and the main reason you have discussed. Bitcoins are limited edition and moreover decentralized. No country can have full control over bitcoins. Bitcoins are supposed to be international currency used by everyone. They are not meant for any particular community or country.

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Tipstar
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August 30, 2017, 07:20:47 AM
 #213

No I don't think bitcoin can become a national currency because there is only limited number of bitcoin and I don't think it can sustain the demand in the market and also if it will become a national currency many country may not accept bitcoin the way it is accepted now.

Yep! It is quite absurd to think of bitcoins as national currency and the main reason you have discussed. Bitcoins are limited edition and moreover decentralized. No country can have full control over bitcoins. Bitcoins are supposed to be international currency used by everyone. They are not meant for any particular community or country.

With the evolution of fiat currency to blockchain based valued tokens, we have changed the way our economy works (at least to some extent).
Who know what the future holds for the definition of a nation.

covfefe_
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August 30, 2017, 07:26:17 AM
 #214

No I don't think bitcoin can become a national currency because there is only limited number of bitcoin and I don't think it can sustain the demand in the market and also if it will become a national currency many country may not accept bitcoin the way it is accepted now.

Yep! It is quite absurd to think of bitcoins as national currency and the main reason you have discussed. Bitcoins are limited edition and moreover decentralized. No country can have full control over bitcoins. Bitcoins are supposed to be international currency used by everyone. They are not meant for any particular community or country.

With the evolution of fiat currency to blockchain based valued tokens, we have changed the way our economy works (at least to some extent).
Who know what the future holds for the definition of a nation.

With your private keys with you, you just need a visa to travel around the world.
Bitcoin shouldn't be a national currency as it is already a global currency.

kevpantof
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August 31, 2017, 05:53:11 AM
 #215

No I don't think bitcoin can become a national currency because there is only limited number of bitcoin and I don't think it can sustain the demand in the market and also if it will become a national currency many country may not accept bitcoin the way it is accepted now.

Yep! It is quite absurd to think of bitcoins as national currency and the main reason you have discussed. Bitcoins are limited edition and moreover decentralized. No country can have full control over bitcoins. Bitcoins are supposed to be international currency used by everyone. They are not meant for any particular community or country.
Yes probably you are right. May be we can’t see it as National Currency now but we can’t predict the future. If somehow it can manage to fulfill the number required by any country, then there are chances that we may be able to see it as Currency as well but for now chances are less.

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CrownPolly
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August 31, 2017, 06:12:07 AM
 #216

No I don't think bitcoin can become a national currency because there is only limited number of bitcoin and I don't think it can sustain the demand in the market and also if it will become a national currency many country may not accept bitcoin the way it is accepted now.

Yep! It is quite absurd to think of bitcoins as national currency and the main reason you have discussed. Bitcoins are limited edition and moreover decentralized. No country can have full control over bitcoins. Bitcoins are supposed to be international currency used by everyone. They are not meant for any particular community or country.
Yes probably you are right. May be we can’t see it as National Currency now but we can’t predict the future. If somehow it can manage to fulfill the number required by any country, then there are chances that we may be able to see it as Currency as well but for now chances are less.

maybe you are right. Someday, crypto currency can become the main currency for people. But it is possible, if the statehood disappears and there will be some other government universal body

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lordquanta
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August 31, 2017, 06:23:41 AM
 #217

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.
Why government act immediately to stop bitcoin ?
I mean is there any trouble for them or they want to make his national currency continue? But any way I think bitcoin will never be a national currency because bitcoin work good on global level, they unique state can’t be able to maintain that popularity of bitcoin, so it work good just the way it is.
Because currency is THE key to control the populous. Currency is the common thread which runs through each part of society. Thus if govt senses they are losing this power then there will grave consequences. No govt or government body will happily let go their power. Everyone loves incoming cash and power. Problem is not with bitcoin as currency but govt losing their control over general populous.

Thus there is no chance of ungoverned crypto-currency (including bicoin) to become national currency.  Though it would really amazing to have bicoin as national currency.

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August 31, 2017, 07:00:30 AM
 #218

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 will never happen. First, even though that BTC is aggressively penetrating the market. Solely because it's not legally accepted worldwide. If this happens then Government would impose laws and regulations in which Bitcoin transaction will be centralized under the Government and we are now not anonymous. Basically, before that could happen it would be turned down by some powerful people that hold a place in the Government. Why? Personal Interest. They know that the current status of Bitcoin in which they took advantage on the decentralization of the industry. So that they could transact freely and without boundaries.

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August 31, 2017, 07:42:56 AM
 #219

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 has the possibility that bitcoin will become the national currency but it takes years for this to be happen. First and foremost to be able for this bitcoin become the national country it should be familiarize with all people around the world. Another is that bitcoin should be accepted with all the country around the world and lastly it should have a price that are affordable by all people.

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August 31, 2017, 07:43:30 AM
 #220

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?

I do not think so...

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