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Author Topic: BTC as a national currency?  (Read 12097 times)
Mr.Anonymous
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November 11, 2017, 05:30:50 PM
 #341

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 might be possible because bitcoin comes with so many benefits and advantages that might be any country's whee it's people will use more bitcoin than regular Fiat will make it their national currency.  I believe that you can not predict anything in case of bitcoins.  But with due time there are very chances that people will invest more and more in bitcoin.  So there are possibilities that it may become the worldwide currency.  The system of currency is running from so long.  And this digital advancement is the knock of future on our door steps.
National currency means this currency can manage by the government or the national banking system. You forget the government can not manage the transaction of Bitcoin if the business want to evade tax. Because the business do not report the total revenue from their business, the government will can not tax them Smiley
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November 11, 2017, 09:37:34 PM
 #342

I doubt it will be. Because of the fact that it is difficult to regulate. For it to become a national currency a government must agree to it and do away with their own currency. No government will dothat.
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November 12, 2017, 02:22:08 AM
 #343

bitcoin may be in good form right now, but it still cant be a national currency because of it being very volatile. government cant charge taxes when making a crypto transaction, and crypto is very hard to regulate.

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November 12, 2017, 02:38:30 AM
 #344

bitcoin may be in good form right now, but it still cant be a national currency because of it being very volatile. government cant charge taxes when making a crypto transaction, and crypto is very hard to regulate.

The rate of bitcoin is not still high and it is because still there are maximum number of people who are unknown about bitcoin so when a time came that maximum number of people will know about bitcoin then the rate of bitcoin will also increase and then it will be more probable that bitcoin will become the whole world unique currency not only a national currency.

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November 12, 2017, 03:25:10 AM
 #345

That would sound nice but come to think of it, it already have become a national currency but not just national but international. Sounds great because all of us know and accept bitcoin as a form of payment but when someone pushes bitcoin to become known by our government, come to think of it when bitcoin is under the government, our government. It would be chaos because the output or the result of their actions is already familiar to. Our money has been under so many laws that decreases our profit. This are called income tax and many more. Imagine bitcoin and other cryptocurrencies meet the same state? we would not earn anymore the same. It would be hard and it would be chaotic in my opinion and observation.

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November 12, 2017, 04:35:55 AM
 #346

Maybe not at this moment.There are some factors that need to be considered before making it a national currency.Some countries have bitcoins but not widely used.

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November 12, 2017, 04:41:07 AM
 #347

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 won't be a national currency for a certain country since it is decentralized and is an opensource system so no one owns it. Also a national currency is the symbol and identity of a certain country so I think it is not possible for Bitcoin to be a national currency. It can be an internatinal currency by the tine that it is already legal to most of the countries.

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November 12, 2017, 04:43:36 AM
 #348

Maybe not at this moment.There are some factors that need to be considered before making it a national currency.Some countries have bitcoins but not widely used.
It will take long that bitcoin become national currency. It takes time to be plan and develop bitcoin because it is not yet worldwide use and still fiat currency as the main use by whole nation. Yes there are many things to be considered before this will be finalize.


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November 12, 2017, 05:35:15 AM
 #349

bitcoin will not be as national currency, governments will not agree for this, I prefer to use fiat than bitcoin because fiat is no need to use some of technologies to transaction, but bitcoin we need some technologies to use for transaction, I'm ok with bitcoin as a global virtual currency.

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November 12, 2017, 06:41:41 AM
 #350

maybe we'll be waiting for a long time to find out if national currency is actually a bitcoin if it's national money really is it just how dollar and pesso are they still available? it is no longer just a bitcoin to be used by people so the government simply does not allow it to require a thorough hearing about it.

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November 12, 2017, 07:21:44 AM
 #351

At this moment its a NO for me. There are many reasons why bitcoin cannot be used as a national currency. One is the slow transaction of bitcoin and the high transaction fees. Another is the volatility of it and last is some people didn't know that bitcoin has been exist in the world.

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November 12, 2017, 08:31:21 AM
 #352

Yes....there is a big possibility that the bitcoin will become a national currency. Aside from its popularity, it has an advantage from other currency because of it's amazing features that no other currency has. And that features may be the reason for it will become a national currency in the near future.

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November 12, 2017, 11:46:52 AM
 #353

Yes....there is a big possibility that the bitcoin will become a national currency. Aside from its popularity, it has an advantage from other currency because of it's amazing features that no other currency has. And that features may be the reason for it will become a national currency in the near future.
Bitcoin will not become a national currency because bitcoin is a virtual currency and in a country you cannot avoid that there are people how are homeless or very poor that can't even afford a smartphone or even internet connection so how and what way will the government will help them and try to make them escape from poverty if they cannot use the national currency like bitcoin? If you will ask me, bitcoin will stay at it is, as a cryptocurrency but for the rest, bitcoin is just an option.

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November 12, 2017, 12:27:43 PM
 #354

Bitcoin is a universal monetary valued crypto which is used whole around the world. Who knows even the aliens may use this for transactions with us humans Grin Grin

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November 12, 2017, 01:33:56 PM
 #355

I think Bitcoin can not be a national currency of any country. Although Bitcoin has a bright future. It will be very popular in the future. Many people will be interested in it. But we know Bitcoin is free. The government of any country can not control it, so it is unlikely to be a national currency. It is not a paper currency, it is worthless without internet, because of all this it can not be a national currency.

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November 12, 2017, 03:09:27 PM
 #356

I suspect this, in my view, Bitcoin will not be able to become a national currency, although Bitcoin is of high value and has many benefits but it has a lot of inappropriateness. Bitcoin does not have the necessary basic attributes of a currency, because Bitcoin is just a code sequence generated by complex algorithms. The supply there is also limited, especially as it does not depend on anyone and the currency is under the control of the government. I think Bitcoin can be considered as asset or a high value commodity

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November 14, 2017, 04:08:11 PM
 #357

It is impossible that bitcoin becomes a national currency because it is still in the process and it's volatility so the price will change varies prior to bitcoins. For most of the countries it will hard for them the regulate it. We'll expect this for the future.

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November 14, 2017, 04:36:54 PM
 #358

Bitcoin, for now, is not suitable to become a national currency of any country. Bitcoin's value is too volatile so a product or service will always change in price with respect to the price of Bitcoin. Also, a transaction fee is there with every transaction, this is not practical in using in a daily basis. It will be hard for the government to control the scenario. So if a country will make Bitcoin as its national currency then they have to regulate it first.
I definitely agreed with you that bitcoin is too volatile to be used as a national currency , bitcoin being volatile will cause inflation in that particular country that adopted it as a national currency and coupled with the fact that bitcoin is decentralized I.e it is not controlled by anybody will even makes it much more difficult to be used as a national currency ... But the other side of my opinion is,there is a big possibility that the bitcoin will become a national currency. Aside from its popularity, it has an advantage from other currency because of it's amazing features that no other currency has. And that features may be the reason for it will become a national currency in the near future ...
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November 14, 2017, 09:16:35 PM
 #359

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 is a little bit hard for one country. But if there will be many governments which accepted bitcoin like USA UK CHINA or etc, then many of them start to use bitcoin as natural currency. I think national bitcoin currency is a dream which is hard to make it a reality.

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November 14, 2017, 10:43:50 PM
 #360

I think it's impossible in nearest 50 years. Governments need to take control about national currency. Speaking about Bitcoin I can say that no one government cannot regulate it now.
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