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Author Topic: BTC as a national currency?  (Read 11771 times)
Gaff
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October 07, 2017, 02:10:47 PM
 #301

i think that's hard to consider because bitcoin is a big currency but it cant be the national currency because each and every country has their own
Well I respect your idea on this but as for my view, having such a big value in cryptocurrency,there is a higher chance that bitcoin will be a national currency. I strongly believe that if they allow this to happen, maybe many investors will help each other's country to develop establishments and of course the economy. It sounds valuable and amazing for everybody is using bitcoin for every purchases and the like.

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October 09, 2017, 07:23:37 AM
 #302

National Currency is determined by the country and controlled and regulated by them and BTC can't act as a National currency because then the government will have no control over the money and the volatile nature of BTC can highly effect the economic conditions of the country. Also everyone in the state is not connected to internet and also all are not educated to do transactions with BTC so government will never accept BTC as a national currency.
Indeed! If we look at thinks with realistic approach, we will come to conclusion that bitcoins can never ever be the state currency of any country because of the main reasons you have mentioned. It is crystal clear that bitcoins are decentralized in nature and are not controlled by any state.
Even, no one can control it, not only the goverment and any force can not do that. Therefore, Bitcoin has a small ratio to be accept by the government, because you also know they not like accept a thing can not gives them any profits. Grin
Bitcoin is so effective that if a country will declare it as national currency then the economy of that county will be boosted in few days and it will be above many countries and still those countries are economically in well state who are using bitcoins in limited fields of business and from that one can easily predict the economy of that country whose currency will be bitcoin.

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October 09, 2017, 07:44:06 AM
 #303

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?
The economies as we now it rely on several stuff, one of them being the cotrol of their monetary policy. Usually this is made made national central banks in most countries, federal banks as in the US and multinational central bank as in the EURO zone. For a counstry to adopt BTC we would have to see some major cange in our economic principals our a country having a currency so week that it would see some kind of advantage in BTC.

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October 09, 2017, 07:56:36 AM
 #304

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 think it could become the currency of a country, perhaps it is Japanese. Just like the dollar, which is used all over the world, it belongs to the United States and you can not deny that it needs a strong economy to take control of it. Bitcoin, too, so that only really powerful countries can control and manage these currencies.


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October 09, 2017, 08:10:06 AM
 #305

Bitcoin is difficult to consider because of a big coin but it can not be a national currency. Each country has its own currency system. This way, doing bitcoin  nationalization is not just easy, it can be rowdy.

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October 09, 2017, 10:38:48 AM
 #306

obviously not because the national currency is unlikely to be replaced. I think bitcoin will be a tool of exchange in every country if they work in another country and they want to exchange to their local money this will make it easy if to replace currency I think it is impossible.

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October 09, 2017, 10:57:05 AM
 #307

For me, its a no. Many countries nowadays have common problems, the poor and homeless people in the streets. We can't make bitcoin as the national currency if there are a lot of people still don't have food to eat, no home to live in and no access to the internet. How can they get money. But for me maybe it is a good thing to make the bitcoin a currency, there will be no thief, no hostage taking and no robbery if bitcoin become currency.

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October 09, 2017, 11:06:18 AM
 #308

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?

There's no chance btc can become a national currency. Why? It's because first of all, there are the banks who would protest and of course the government will definitely won't allow it. The threat of money laundering is always present with btc and that will always be the case that the govt will reason out. And besides they have no power over btc. They cannot control it and iy can also be used by politicians who don't wish to share their net worth most especially if they are involved in illegal transactions.

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October 09, 2017, 11:39:57 AM
 #309

Nowadays bitcoin have become popular nationwide but as national currency it is hard to implement. I agree with others that how about the poor they can cope up easily with the technology if bitcoin would be use as national currency. So, it is not easy that btc as a national currency because a lot of things to be consider.


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October 09, 2017, 01:23:50 PM
 #310

Bitcoin can not be made in the national currency, because the government in my country is limited to monitor the development of bitcoin.


    
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October 09, 2017, 01:25:00 PM
 #311

that's great if bitcoin can be national currency but in my country, the goverment not admitted bitcoin yet as a means of payment. so difficult for bitcoin can be national currency in my country. maybe if many countries accept bitcoin as a legal payment, bitcoin become legal in my country..

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October 09, 2017, 01:39:20 PM
 #312

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?

There's no chance btc can become a national currency. Why? It's because first of all, there are the banks who would protest and of course the government will definitely won't allow it. The threat of money laundering is always present with btc and that will always be the case that the govt will reason out. And besides they have no power over btc. They cannot control it and iy can also be used by politicians who don't wish to share their net worth most especially if they are involved in illegal transactions.
But there is any chance, example like after any kind of hardfork, it's become crypto currency that belong to some only in one nation. That could be happen any chance? And if it happen what things will happen besides?
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October 09, 2017, 03:16:43 PM
 #313

BTC definely not.. it's "decentralized" and the government wouldn't have any control over it. We might witness a digital currency, but it will definitely be issued by the government itself. They need to have the ability to adjust the supply depending on how the economy is growing (increase/decrease in inflation, liquidity etc.)

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October 09, 2017, 03:23:06 PM
 #314

Bitcoin can not be national currency, because not all people use computer. I do not know any world country, where all people use computer. The second problem is that good & fast Internet coverage is not in 100% places, even in most developed countries. In Swiss or French Alps, for example, can be problems, especially in winter time. 
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October 09, 2017, 03:27:25 PM
 #315

I do not think that's possible. as we know that not everyone supports bitcoin and it also depends on the ability of its human resources, whether it is applicable or not.

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October 09, 2017, 05:49:18 PM
 #316

Bitcoin is difficult to consider because of a big coin but it can not be a national currency. Each country has its own currency system. This way, doing bitcoin  nationalization is not just easy, it can be rowdy.
It could be difficult for the people like us but not for everyone because it is being use in a lot of the countries as the national currency so it is not very difficult the importance of the bitcoin is known by a lot of the people now and they knows how profitable it is to invest in the bitcoin for the long time and it is the best thing to save for the long time.

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October 09, 2017, 10:18:46 PM
 #317

Bitcoin is difficult to consider because of a big coin but it can not be a national currency. Each country has its own currency system. This way, doing bitcoin  nationalization is not just easy, it can be rowdy.

It's not going to happen and I doubt it that bitcoin will become a national currency because it is decentralized and the gov't will never get that adoption for real. They can treat bitcoin as alternative currency but it will never be called as a national currency and it's not even physically generated so it's impossible to see in the future that bitcoin will be a national currency, unless you are at a bitcoin community.



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Rainbot
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October 11, 2017, 09:35:08 AM
 #318

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?

There's no chance btc can become a national currency. Why? It's because first of all, there are the banks who would protest and of course the government will definitely won't allow it. The threat of money laundering is always present with btc and that will always be the case that the govt will reason out. And besides they have no power over btc. They cannot control it and iy can also be used by politicians who don't wish to share their net worth most especially if they are involved in illegal transactions.
But there is any chance, example like after any kind of hardfork, it's become crypto currency that belong to some only in one nation. That could be happen any chance? And if it happen what things will happen besides?
That may be possible in next five to six years and the countries who are been predicted to do so are japan and Singapore, because at the present moment these two countries are making more profit from bitcoin as compare to any other region of the world and anyone who will declare bitcoin as national currency will lead the world due to its economy factor and everyone wants to enter bitcoin country.



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October 11, 2017, 10:12:42 AM
 #319

It is a long shot. Which country will declare Bitcoin as a national currency? In order to do that, they need to mint Bitcoin metal coins and Bitcoin banknotes. And it will be very difficult, since Bitcoin is a digital asset. Another issue is the availability of the internet.

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October 11, 2017, 10:15:35 AM
 #320

It is a long shot. Which country will declare Bitcoin as a national currency? In order to do that, they need to mint Bitcoin metal coins and Bitcoin banknotes. And it will be very difficult, since Bitcoin is a digital asset. Another issue is the availability of the internet.

The difficulty is not whether there will be access to the Internet. The difficulty is that this currency can not be predicted and controlled. For this reason, bitcoin can not become a national currency. The economy is not ready for this

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