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Author Topic: BTC as a national currency?  (Read 7732 times)
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August 15, 2017, 09:15:40 PM
#41

I think Rogue States like Iran, North Korea, Syria, Israel etc. Can use bitcoin for the supporting to paramilitary groups.

(Rogue States for My opinions. It's not related politics. Just my opinion. Respect!)

These countries may receive money from different people in the form of Bitcoin, but it is impractical for them to actually use bitcoin within their countries on any substantial basis. All Bitcoin does in these cases is transfers value.

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August 15, 2017, 09:33:30 PM
#42

I don't think there is a country who will abandoned there local currency for bitcoin. If that happen I don't know if that is also good to bitcoin.
you are right I also think from your prospective but there is lot other things came in my mind, bitcoin is working globally so why any country want to make it it痴 national currency? There is money system in every country and this would be good for country, and also if some country want to make bitcoin as a national currency then it will be impossible for them to make new budget and bank cycles according to bitcoin and control its price.


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August 15, 2017, 09:58:57 PM
#43

I don't think that Bitcoin can become national currency of any country as Bitcoin can not work offline which simply makes it unsuitable for everyday transactions. Moreover, Bitcoin transaction are not as quick as paper money transactions are.
This, just this. I mean, to use bitcoin, you HAVE to walk around with your smartphone with a internet connection! I mean, how would you give a little kid some money to buy ice cream? To buy something with bitcoin, you make the payment, wait 30-45 minutes then you walk away. That's just not suitable for everyday life.

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August 15, 2017, 10:04:29 PM
#44

Never bitcoin will not be used as the national currency. This is not only because the government is deprived of the opportunity to monitor any crypto currency, but because it is impossible to trust in the wrong hands the fate of the state. It is very risky.

Governments can easily monitor most cryptocurrencies, including Bitcoin. This is one of the reasons that BTC-e was taken down: through blockchain analysis that linked someone to the laundering of ~ 600,000 bitcoins.

The problem lies in the fact that they can't control the currency. Governments (and central banks) want the ability to prop up the economy if necessary. This can't be done with bitcoin as a national currency.
Yes. This is the major reason bitcoins are not being treated as a state currency by any government. Bitcoins give maximum liberty to people and that is not accepted by governments. All governments want to rule and control their people completely whereas bitcoins have contradictory objectives.

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August 15, 2017, 10:11:11 PM
#45

Never bitcoin will not be used as the national currency. This is not only because the government is deprived of the opportunity to monitor any crypto currency, but because it is impossible to trust in the wrong hands the fate of the state. It is very risky.

Governments can easily monitor most cryptocurrencies, including Bitcoin. This is one of the reasons that BTC-e was taken down: through blockchain analysis that linked someone to the laundering of ~ 600,000 bitcoins.

The problem lies in the fact that they can't control the currency. Governments (and central banks) want the ability to prop up the economy if necessary. This can't be done with bitcoin as a national currency.
Yes. This is the major reason bitcoins are not being treated as a state currency by any government. Bitcoins give maximum liberty to people and that is not accepted by governments. All governments want to rule and control their people completely whereas bitcoins have contradictory objectives.
The fact is that many users will still speak very different words than those that speak today. As soon as the government starts the procedure for legalization of the crypto currency, each user will have to prepare to pay taxes, the finance verse that they extract using the crypto currency. I think that many will not be ready for this issue and therefore all legalization will be of no benefit to anyone.

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August 15, 2017, 10:21:56 PM
#46

Never bitcoin will not be used as the national currency. This is not only because the government is deprived of the opportunity to monitor any crypto currency, but because it is impossible to trust in the wrong hands the fate of the state. It is very risky.

Governments can easily monitor most cryptocurrencies, including Bitcoin. This is one of the reasons that BTC-e was taken down: through blockchain analysis that linked someone to the laundering of ~ 600,000 bitcoins.

The problem lies in the fact that they can't control the currency. Governments (and central banks) want the ability to prop up the economy if necessary. This can't be done with bitcoin as a national currency.
Yes. This is the major reason bitcoins are not being treated as a state currency by any government. Bitcoins give maximum liberty to people and that is not accepted by governments. All governments want to rule and control their people completely whereas bitcoins have contradictory objectives.
The fact is that many users will still speak very different words than those that speak today. As soon as the government starts the procedure for legalization of the crypto currency, each user will have to prepare to pay taxes, the finance verse that they extract using the crypto currency. I think that many will not be ready for this issue and therefore all legalization will be of no benefit to anyone.

Legalization will be of great benefit to the venture capitalists and investment bankers who are entering the space. They need the green light from government to fully pile into the Bitcoin space. I think that from a startup perspective, it was pretty risky to be in the Bitcoin industry until this year.

Now, it seems like regulation is happening fast. I bet we'll see an ETF within the next year or two. I think we will also see more law enforcement actions against unregulated exchanges. Undecided

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August 15, 2017, 10:25:01 PM
#47

BTC has no nation, no country, no government, no state, no rule, no borders. Why are you guys attempting to make it a national currency so that it could be under a centralized power's control. This doesn't make any sense.

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August 15, 2017, 10:26:55 PM
#48

Totally impossible in my opinion. Too much volatile and being decentralized is totally a no go for any government at all. Governments need to control their own coin. A coin value can change everything.

And as already been said, the time for a transaction to be confirmed plays another huge factor on it.
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August 15, 2017, 11:08:53 PM
#49

Never bitcoin will not be used as the national currency. This is not only because the government is deprived of the opportunity to monitor any crypto currency, but because it is impossible to trust in the wrong hands the fate of the state. It is very risky.
i think currently it look like impossible but i think in future we can expect that bitcoin will become national currency of every country because every country is going to accept bitcoin. Japan has already accepted bitcoin as legal currency and now they are using it as normal currency in their country,  i am sure that very soon other countries will also follow them and turn bitcoin as legal currency because the new generation are too much interested in online currency.
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August 15, 2017, 11:09:58 PM
#50

BTC has no nation, no country, no government, no state, no rule, no borders. Why are you guys attempting to make it a national currency so that it could be under a centralized power's control. This doesn't make any sense.

I don't know the why did they think of this mattee but one thing for sure, it will not be happening. Also, if this happen, no one will be taking a liking into the new bitcoin that is a centralized one. I'd rather transfer my savings into another digital currency if that happens.



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August 15, 2017, 11:29:08 PM
#51

No that will not happened and it is a bad idea for a country to adopt Bitcoin as a national currency, Bitcoin volatility is very high and uncontrollable, with this condition it can caused the price for daily needs to be fluctuated, and when the supply of Bitcoin is not enough it can caused a big inflation, the country economic will be ruined and unpredictable and the citizen will be suffering

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August 16, 2017, 12:29:14 AM
#52

Never bitcoin will not be used as the national currency. This is not only because the government is deprived of the opportunity to monitor any crypto currency, but because it is impossible to trust in the wrong hands the fate of the state. It is very risky.
i think currently it look like impossible but i think in future we can expect that bitcoin will become national currency of every country because every country is going to accept bitcoin.
The country just want to accept the bitcoin as a national currency. But bitcoin will be considerable as alternative currency that gives the more possibility to make the digital transaction will be so easy.
but the chance for bitcoin to be a national currency is zero.



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August 16, 2017, 12:36:33 AM
#53

in my opinion, it is better for bitcoin as a global currency and not as national currency because if bitcoin as national currency, the government will interfere inside the bitcoin community and blockchain technology and want to dominate and its not fair and not good for bitcoin itself. if bitcoin as a global currency, then the government will not trying to interfere because there will be many people and many country that do not want this happen.

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August 16, 2017, 12:48:30 AM
#54

BTC has no nation, no country, no government, no state, no rule, no borders. Why are you guys attempting to make it a national currency so that it could be under a centralized power's control. This doesn't make any sense.

You are right in there. It seems that some people still do not grasp the idea of decentralization and still stuck in their centralized form of currency. It is hard to change when you have been that way for your whole life.

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skyline247
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August 16, 2017, 02:20:23 AM
#55

BTC has no nation, no country, no government, no state, no rule, no borders. Why are you guys attempting to make it a national currency so that it could be under a centralized power's control. This doesn't make any sense.

You are right in there. It seems that some people still do not grasp the idea of decentralization and still stuck in their centralized form of currency. It is hard to change when you have been that way for your whole life.

But couldn't a country which has no intention of controlling Bitcoin still declare it as their national currency? What is stopping them from doing that? I could see it happening, and it would be a major milestone in Human history!



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bitcoinmaniac52
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August 16, 2017, 02:33:35 AM
#56

BTC has no nation, no country, no government, no state, no rule, no borders. Why are you guys attempting to make it a national currency so that it could be under a centralized power's control. This doesn't make any sense.

You are right in there. It seems that some people still do not grasp the idea of decentralization and still stuck in their centralized form of currency. It is hard to change when you have been that way for your whole life.

But couldn't a country which has no intention of controlling Bitcoin still declare it as their national currency? What is stopping them from doing that? I could see it happening, and it would be a major milestone in Human history!


Small countries could test it out and also countries which go bankrupt could try it to save their citizens from the inevitable plights of fiat.



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carlisle1
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August 16, 2017, 03:27:48 AM
#57

BTC has no nation, no country, no government, no state, no rule, no borders. Why are you guys attempting to make it a national currency so that it could be under a centralized power's control. This doesn't make any sense.

You are right in there. It seems that some people still do not grasp the idea of decentralization and still stuck in their centralized form of currency. It is hard to change when you have been that way for your whole life.

But couldn't a country which has no intention of controlling Bitcoin still declare it as their national currency? What is stopping them from doing that? I could see it happening, and it would be a major milestone in Human history!


Small countries could test it out and also countries which go bankrupt could try it to save their citizens from the inevitable plights of fiat.
but which government will allow it to happen? even small countries have a corrupt officials wo will not allow anything to interfere with their
control regarding to their economic infrastructure bitcoin can be adopted but making it national currency will be a big question.

muncuss
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August 16, 2017, 05:38:07 AM
#58

Many problem. Money laundering will be easier, and we will need a lot of smartphone. And the supply are very very not enough for >250m people in my country and >10m bitcoin user and holder worldwide. Ten richest people in my country will hold more than 1/3 bitcoin supply

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Qunenin
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August 16, 2017, 04:43:46 PM
#59

For most people especially those that have never touched Bitcoin , and it's nothing more than a digital currency and a tool. 95% of the population out there either has no clue that Bitcoin exist, doesn't care, or considers it in the same realm is things like Google pay and PayPal. A lot of people come right up to the point where they're ready to get involved and it is simply too complicated for them. But it's definitely not as popular as people think.

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LuanX3
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August 16, 2017, 04:51:04 PM
#60

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. This would mean the governments will not have any control over the money their people uses.
Losing control over their people will be troublesome, so they will never allow it. It would mean that they can no longer
control inflation too.

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