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Author Topic: BTC as a national currency?  (Read 11784 times)
barefield22
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November 14, 2017, 10:43:50 PM
 #361

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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November 15, 2017, 01:23:00 AM
 #362

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?

Its not possible today, Btc needs to develop more innovative changes like, any vouchers you can use as an offline transactions, volatility, and most importantly popularity, its a great factor that could trigger the market or the businesses online to accept Bitcoin as payment or exchange of service due to its high demand. Also one of the factors that Btc may encounter is the government, how can they implement it when Btc is decentralized. I mean you know most (if not all) of the Government in any country WANTS to control over a certain thing going around.

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qwertyup23
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November 15, 2017, 01:33:17 AM
 #363

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?

No. Firstly, you need to consider the nature of bitcoin being decentralized, meaning no government entity or institution can ever regulate its transactions. Second, due to its high volatility, its price is very unstable making products or services inflate in a shorter period of time. Third, bitcoin being digitalized mandates every country to adapt to its system. Since every country have their own technological advancement, countries on the weaker side (developing countries) would have a hard time switching from fiat to bitcoin (some countries still use barter system!). Lastly, bitcoin is always subject to hacking especially if one individual cracks the code and hacks the entire system.

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November 15, 2017, 01:34:34 AM
 #364

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 it will ever become a national currency, there's too much volatility and the ever increasing price is not good to be used as a national currency. Furthermore it is decentralised and so supply cannot be used to influence the economy.

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November 15, 2017, 01:50:27 AM
 #365

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 it will ever become a national currency, there's too much volatility and the ever increasing price is not good to be used as a national currency. Furthermore it is decentralised and so supply cannot be used to influence the economy.
Bitcoin is a crypto currency that lives in the cyberworld which decentralized was occurred. As far as we know it just a currency in the cyberworld and it will never be a currency as what fiats money we have. Furthermore it is a demand crypto currency which many traders and investors or businessman grabbing an opportunity to have a good profit and to have more good return in the future. Also, bitcoin helps the economy in the country legalized bitcoin since many people want to invest and make there life easier and comfortable like paying transaction processes.

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November 15, 2017, 02:14:53 AM
 #366

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.
I agree, the probability is too small. Government will always support their fiat because they need to control it to make their country's economy stable. Government still afraid about bitcoin volatility, I am sure that the governments are prefer like to choose gold as their national currency rather than bitcoin.

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supermam
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November 15, 2017, 02:42:44 AM
 #367

I don't think so that bicoin can become a national currency because of it's value and it's not suitable for daily transactions and also in paying small bill payments not.like moneytary currencies it's very easy to use in all transactions

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November 15, 2017, 03:20:33 AM
 #368

I think it's impossible that Bitcoin will become as a national currency because it's value is high enough and it's not suitable to use it everyday for daily needs and transactions and it's not appropriate to some people without internet whereas monetary currencies can be used in any transactions the easiest way but if the government will approve it why not

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November 15, 2017, 03:44:00 AM
 #369

I don't think any country will want to make BTC as their national currency. It is a online currency. It is not suitable for eveyday transactions as well as it's need internet to access. Everyone not afford internet. Bitcoin only can use for occasionally not evetday because it has a high price.

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November 15, 2017, 04:06:28 AM
 #370

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?
No. Because then it will be centralized because a country owns or represents that currency. The price will depend on their economy. This is sad for non citizens.
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November 15, 2017, 04:33:00 AM
 #371

I don't think any country will want to make BTC as their national currency. It is a online currency. It is not suitable for eveyday transactions as well as it's need internet to access. Everyone not afford internet. Bitcoin only can use for occasionally not evetday because it has a high price.
They might if the world just advanced enough, fiat or called cash will bring us nowhere but the destruction of our planet if keeps continueing, BTC in the other hand, could be used as secondary national currency backing up the main currency. worlds keep growing and internet coverage keep expanding, why worrying about it?
However, just see in the future, digital currency will be a major thing dominating the whole financial technology in this world.

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November 15, 2017, 04:42:11 AM
 #372

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?
That may be possible if all the citizen of that country already uses bitcoin. You cannot make it as national currency if your countrymen doesn't know about it yet. It may take time introducing bitcoin, as well as letting them understand how does it work. Teaching is not that easy specially when they are not interested on what you are teaching. As of now, we cannot see that event, rather there has a chance to have that. When bitcoin becomes the most popular and strongest currency in the world or in a country, it may be consider as their main currency.

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November 15, 2017, 05:10:01 AM
 #373

It might happen in the future if everyone in the country have the knowledge about bitcoin and almost most of them are using it. But as of today it's too far to happen because only in our countries are using it and have the knowledge of bitcoin and its power.
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November 15, 2017, 05:27:44 AM
 #374

Development of bitcoin, bitcoin can produce so many transactions and money that always fluctuates, even other countries use bitcoin as legal currency. Maybe this happens in the future, this country has knowledge about bitcoin and almost most of them use bitcoin.

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November 15, 2017, 07:32:16 AM
 #375

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?
That may be possible if all the citizen of that country already uses bitcoin. You cannot make it as national currency if your countrymen doesn't know about it yet. It may take time introducing bitcoin, as well as letting them understand how does it work. Teaching is not that easy specially when they are not interested on what you are teaching. As of now, we cannot see that event, rather there has a chance to have that. When bitcoin becomes the most popular and strongest currency in the world or in a country, it may be consider as their main currency.
Even bitcoin will become a very popular country then it will not become their main currency bitcoin might be the best currency but its characteristics are not good for a country to use it as a main currency like the limited supply of bitcoin and also the volatility that can be a problem for them so if they really want to use bitcoin then it will stay as an option.

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November 15, 2017, 08:12:30 AM
 #376

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 it will ever become a national currency, there's too much volatility and the ever increasing price is not good to be used as a national currency. Furthermore it is decentralised and so supply cannot be used to influence the economy.

if in my opinion btc is quite difficult, if want to be the national currency. because every country has a government that has been watched and guarded. so that's when bitcoin is willing to become national currency, surely there are government which do not approve it.

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November 15, 2017, 08:33:10 AM
 #377

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 not a national currency because it is used by many people in the world rather so it's world currency.
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November 15, 2017, 09:01:23 AM
 #378

how's that will happen, if btc become our national currency, what will be the exchange of other currency.,, it will decrease or Increase?  Roll Eyes Huh

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November 15, 2017, 09:26:29 AM
 #379

I don't think at all is that will be happened later, I think Bitcoin will only survive as an alternative currency forever, which continuesly side by side with the national currency across the countries. Because until whenever Bitcoin is the online currency, which can't be transacted / processing in offline condition, it's can be a strong reason I guess.
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November 15, 2017, 09:42:07 AM
 #380

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 already is, its just a matter of time when the whole world would acknowledge it. Cryptocurrencies along with bitcoin is becoming very famous to the people and soon will be considered as a real currency by the world. Many people are still not convinced by cryptocurrency, they dont see it as real and its just a crypto thingy.

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