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Author Topic: BTC as a national currency?  (Read 12097 times)
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August 31, 2017, 10:10:28 AM
 #221

If I will be ask for these? It will be great. Not only national but, international currency l. Bitcoin is very strong cryptocurrency. I will not be shock if it will rise above all in this world. Cause we how effective and how wonderfull it is.

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August 31, 2017, 11:29:04 AM
 #222

Bitcoin is becoming people currency. It better suits to bitcoin concept. National currecy is part of state policy and imply certain state control.
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August 31, 2017, 11:52:21 AM
 #223

Bitcoin is already used as an international currency, but no country will make it a national currency, because it will look wrong. There are already national currencies and it is inappropriate to replace them with others.

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August 31, 2017, 12:05:35 PM
 #224

I think the whole idea is not a good one because it's hard to "implement" bitcoin as a national currency because of the infrastructure and other legal issues that a country faces. But I think that it's good to see bitcoin being more popular more useable by people and step by step bitcoin can become the most used currency within a country and then the government can think if it worth or not to set Bitcoin as a national currency.

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September 01, 2017, 07:42:53 AM
 #225

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...
It is really hard to predict what will happen after next 15 years or so. But looking at the way Bitcoin has made its mark in the market, we can expect it to be a National Currency one day. But it will definitely take time.

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September 01, 2017, 08:33:49 AM
 #226

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...
It is really hard to predict what will happen after next 15 years or so. But looking at the way Bitcoin has made its mark in the market, we can expect it to be a National Currency one day. But it will definitely take time.

It will only be possible if Bitcoin doesn't assume any central control at any point in time because becoming a national currency means the central bank or government of a particular nation has approved it and will they approve it as a legal tender without control? That's why it doesn't seem feasible to me even in the next 100 years.

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September 01, 2017, 08:48:34 AM
 #227

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...
It is really hard to predict what will happen after next 15 years or so. But looking at the way Bitcoin has made its mark in the market, we can expect it to be a National Currency one day. But it will definitely take time.

It will only be possible if Bitcoin doesn't assume any central control at any point in time because becoming a national currency means the central bank or government of a particular nation has approved it and will they approve it as a legal tender without control? That's why it doesn't seem feasible to me even in the next 100 years.
Bitcoin is decentralized , it can have a central concern by a specific person. It can be used by anyone with no limits and kt xan consider as a national crypto maybe when its qpplicable to use physically ,which will took too long.


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September 01, 2017, 09:04:29 AM
 #228

It might become a national currency for some virtual country with virtual nationality...
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September 01, 2017, 10:25:17 AM
 #229

Bitcoin is becoming people currency. It better suits to bitcoin concept. National currecy is part of state policy and imply certain state control.
You used the very appropriate term “People Currency”. But you never know when you come across the point where you see this currency changing into “State level Currency” but this will definitely not going to happen in near future. Still chances are there.

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September 01, 2017, 01:54:26 PM
 #230

Bitcoin is becoming people currency. It better suits to bitcoin concept. National currecy is part of state policy and imply certain state control.
You used the very appropriate term “People Currency”. But you never know when you come across the point where you see this currency changing into “State level Currency” but this will definitely not going to happen in near future. Still chances are there.

There will be a huge uproar from long time users and people who've been used to btc as it is. Bitcoin can never be a national currency for any country at it's current state. There would have to be major changes which would be unacceptable for people using it now

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September 01, 2017, 02:52:54 PM
 #231

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 really don't wanna say that this idea is nothing but bullcrap, but the thing is, i have already said it.

Anyways, sorry for that, but really, i can't see this happening. It is just impossible. Because the way i see it, the government and banks secretly hates things they can't control. And guess what? crypto currencies are also a part of it. Plus, the people who don't know about bitcoins or doesn't use them don't need them. Who would want that much hassle in buying a piece of cheap candy? I mean, with all the fees that can even go higher than the price of what you may buy, and the time it takes for confirmations to finish, it is just impossible. Sorry man but this is reality.

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September 01, 2017, 03:08:28 PM
 #232

Bitcoin is already used as an international currency, but no country will make it a national currency, because it will look wrong. There are already national currencies and it is inappropriate to replace them with others.

BTC if not controlled by government cannot become a currency. Because currency is being issues and controlled by government. Any currency which is not legalized and not controlled cannot become a part of country. Also a national currency can only be one currency there cannot be multiples of it. Well yes btc is being used in many counties but by far only for trading , as a investment and few use if for buying stuff. SO a long way to go for btc.

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September 01, 2017, 03:19:26 PM
 #233

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?
Bitcoin is just a digital currency and it will be a digital currency forever. Because being a national currency is the first place is a very big news or milestone. Bitcoin is just for online many people can't access it because the bitcoin is not available when you have no gadget and internet.

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September 01, 2017, 03:43:30 PM
 #234

This could happen because humans always innovating. Anything always has shortcomings, especially for level of state and currency are things and forms that are very important to determine existence and legal status that protect it. Not everything can be solved by digitizing. Bitcoin is presented to facilitate things related to finance, but difficult to adopt as currency a Country.


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Zhukov0
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September 01, 2017, 06:45:52 PM
 #235

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?

Just NO as it is not proper.
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September 01, 2017, 07:30:49 PM
 #236

I think the whole idea is not a good one because it's hard to "implement" bitcoin as a national currency because of the infrastructure and other legal issues that a country faces. But I think that it's good to see bitcoin being more popular more useable by people and step by step bitcoin can become the most used currency within a country and then the government can think if it worth or not to set Bitcoin as a national currency.

Agreed with you, there are so many hurdles in the way of bitcoins to become a national currency. Governments will have to work hard if they regulate the bitcoins, there should be proper system to monitor the each and every transactions related to bitcoins.

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September 02, 2017, 06:37:28 AM
 #237

I think the whole idea is not a good one because it's hard to "implement" bitcoin as a national currency because of the infrastructure and other legal issues that a country faces. But I think that it's good to see bitcoin being more popular more useable by people and step by step bitcoin can become the most used currency within a country and then the government can think if it worth or not to set Bitcoin as a national currency.

Agreed with you, there are so many hurdles in the way of bitcoins to become a national currency. Governments will have to work hard if they regulate the bitcoins, there should be proper system to monitor the each and every transactions related to bitcoins.

Government always wants to be in control of everything. They will stick their nose into Bitcoin and already have on multiple occasions. Unfortunately, it is something we just need to accept.



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ajmapalo22
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September 02, 2017, 07:03:34 AM
 #238

Being a national currency meaning owning the coin and I don't that would be a good idea because if that woukd be happen the price of bitcoin will be probably fixed and it may not be useful globally as it is today. Government will have the control over bitcoin which I think will result to negative feedback of users

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September 02, 2017, 11:35:13 AM
 #239

I don't think a specific country will make bitcoin as their national currency. Bitcoin has been using world wide and I think it will stay that way. No particular country will own it and can use it as their national currency
Yes I agree, because in some regions or country anybody does not allow the existence of the bitcoin because it is considered anonymous currency. and every State also has the characteristic of their currencies respectively. and I think the correct word you that bitcoin will still be used as it is. for me if the bitcoin became the national currency that is a thing which is impossible even impossible.

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September 02, 2017, 03:24:57 PM
 #240


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



That's bitter truth actually. No country would go for second currency which is completely decentralised and works on the virtual processes to use it. They won't accept it as primary or national currency because it break all the regulations of national financial ecosystem. The result could be negative and people might just loose the faith in the finances leading to recession. Yes that much disaster can happen for sure. See, we have traditional currency which is based on instances in the nation and heroic movements that happened before the independence of a country. This has been adopted since long and it will never be shattered like that easy. Plus don't forget bitcoin is limited and needs of people is very much high.

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