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Author Topic: BTC as a national currency?  (Read 12097 times)
Zenixin
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November 21, 2017, 01:29:32 AM
 #421

There is no way! Bitcoin can't be a any nations currency, it's impossible. No one would let this happen. But i think that BTC will be all countries currency soon. Around 2020.
its everyone currency in terms of using online, but as exchanging in fiat it will be impossible.

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November 21, 2017, 02:50:47 AM
 #422

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.
You can expect anything to happen in the coming days. There is nothing in this world which is impossible. I think of bitcoin as national currency to be a very good idea. The only thing which matters the most is the role of government in this aspect.

If the government is willing to take positive steps in this regard, then there are likely chances of this thing to happen. This will bring positive impact on society.
Really? I think we have more trouble about society than positive impact on society.
All transactions will create through Bitcoin and no one can knows the source and the person sended or received that amount.
This is really the good thing for anyone wants to use currency for crime.

BTC as a national currency would be smart for any nation to do. I wonder if other nations would make the same choice. I do not see this happening, any time soon that is, because the baby boomer generation still holds a lot of the power that currently, and temporarily, exists today, so once they start to fall off then the current generations can start to use it as sound money which is great for any economy.
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November 21, 2017, 02:54:25 AM
 #423

This is possible but takes more years to happen. As of today the banks and governments cannot immediately change the currency into digital because not everyone that living in the country can handle this kind of changes.

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November 21, 2017, 03:52:33 AM
 #424

National currency for which country? because although bitcoin is well known by public there is no guarantee from a country that bitcoin will become the national currency. and also many considerations about  bitcoin currently against a government policy.
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November 21, 2017, 03:58:58 AM
 #425

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, bitcoin will not become a national currency, the most probability is each government will create their own cryptocurrency which only they who can mine it.

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November 21, 2017, 04:00:38 AM
 #426

I think the US government is developing its own cryptocurrency right now, which might become a national currency
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November 21, 2017, 04:00:53 AM
 #427

I Dont think it will be possible on any other country to announce this to  their nationality or their sole currency. Then about the problm to countries that bitcoin is decentralized and canot be controlled by any other countries so it will be a hassel and reputation is where we talked about this.

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November 21, 2017, 04:02:30 AM
 #428

National currency for which country? because although bitcoin is well known by public there is no guarantee from a country that bitcoin will become the national currency. and also many considerations about  bitcoin currently against a government policy.

IMO bitcoin can't replace fiat as legal currency because they are different and can't be compare.
So even if bitcoin being legalized, people may still use fiat and bitcoin ( as alternate currency )


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November 21, 2017, 04:32:14 AM
 #429

It is near impossible for any country of the world to make Bitcoin it's National currency. The reasons are not far fetched. Bitcoin has a generic characteristics that will make it a herculean task to domesticate as a National currency. Secondly, Bitcoin lacks regulation and there are no legal framework or monitoring structure around it hence, making it a bit vulnerable to uncertainties. National currencies are unique and symbolic to countries and are often categorised as National symbols. It will be difficult to do this with Bitcoin considering that it is a virtual currency.

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November 21, 2017, 10:11:01 AM
 #430

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?

In order to become national currency, cryptocurrency should be regulated and issued by government, therefore, it wouldn't be cryptocurrency anymore as it would become fiat
One thing I believe makes everyone like Bitcoin is the fact that it is decentralized, and for it to be a national currency, it will stop being decentralized. I don’t know if you guys really know what a national currency means– national currency is a currency that is being used by a country, which means that it is Centralized, unlike Bitcoin which is decentralized.

So if Bitcoin is going to be regulated and become a national currency, it will be used by a particular country and not everyone in the world. So bitcoin will never be a national currency, that’s stupidity.

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November 21, 2017, 10:21:18 AM
 #431

Bitcoin as a national currency it is not possible. Each and every country has their own currency which will never give up the traditional value and according to their financial policy the value of each countries currency vary. So cryptocurrency wont be a national currency at any cost and any moment that's for sure.

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November 21, 2017, 10:24:06 AM
 #432

In my opinion it is impossible because people more gladly use real money because think it is more safe, and i think that too. If bitcoin will be national currency will increase numbers of scam.
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November 21, 2017, 11:19:05 AM
 #433

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 not really possible. In the first place, what country will make it a national currency? Butcoin is decentralized and is an open source system so no one clearly owns it. It may be an international currency since it is used in some countries at this moment. But a national currency symbolises a country as a whole and a decentralized currency will not be something such as that.

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November 21, 2017, 11:23:15 AM
 #434

No because it design to be bank (only exchange coin between countries with small fee) and not coin for buy/sell normal things
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November 21, 2017, 01:35:56 PM
 #435

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.
What you said doesn’t really make any sense. And what do you mean by being Centralized and some countries not being able to regulate? Please, stop deceiving yourself, bitcoin can never be centralized, it was made a decentralized currency, and that’s what it will always remain. The only thing governments will create their own coins issued out through banks to the citizens which will be centralized and controlled by that government. But all that won’t really make any sense.

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November 23, 2017, 05:54:33 AM
 #436

There is no way! Bitcoin can't be a any nations currency, it's impossible. No one would let this happen. But i think that BTC will be all countries currency soon. Around 2020.
There's a way you know that bitcoin has been used everywhere you are. And in everywhere country I guess there's a bitcoin user, bitcoin doesn't have to be a national currency because it's also being used as everyone's currency that are mostly living in the web. Government is obviously not going to give an idea to people that they will be adopting a cryptocurrency that is decentralized, if they to use a cryptocurrency as national currency, they will just make one.

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November 23, 2017, 06:15:46 AM
 #437

There is no way! Bitcoin can't be a any nations currency, it's impossible. No one would let this happen. But i think that BTC will be all countries currency soon. Around 2020.
There's a way you know that bitcoin has been used everywhere you are. And in everywhere country I guess there's a bitcoin user, bitcoin doesn't have to be a national currency because it's also being used as everyone's currency that are mostly living in the web. Government is obviously not going to give an idea to people that they will be adopting a cryptocurrency that is decentralized, if they to use a cryptocurrency as national currency, they will just make one.
[/quo



Bitcoin are heading to a national currency not this year but soon. Bitcoin is still in the beginning of development. Still on many debate to make the bitcoin could afford of so many transaction per second. Other factor that may have a hig problem is bitcoin volatility, whi h always flactuate.


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November 23, 2017, 06:34:10 AM
 #438

Bitcoin's present state is not suitable to become national currency mainly because of its unstable price which changes every so often. Bitcoin being a nationwide forex can be taken into consideration if its cost gets steady but as of this moment its far from happening
There is also a problem in scalabilities. Expert try to solve it by try to do fork, but I am not sure that it is good idea. Bitcoin users are very much now. I think its enough to make bitcoin survive. Bitcoin isn't to become a national currency.

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November 23, 2017, 07:25:25 AM
 #439

There is no way! Bitcoin can't be a any nations currency, it's impossible. No one would let this happen. But i think that BTC will be all countries currency soon. Around 2020.
There's a way you know that bitcoin has been used everywhere you are. And in everywhere country I guess there's a bitcoin user, bitcoin doesn't have to be a national currency because it's also being used as everyone's currency that are mostly living in the web. Government is obviously not going to give an idea to people that they will be adopting a cryptocurrency that is decentralized, if they to use a cryptocurrency as national currency, they will just make one.
Bitcoin are heading to a national currency not this year but soon. Bitcoin is still in the beginning of development. Still on many debate to make the bitcoin could afford of so many transaction per second. Other factor that may have a hig problem is bitcoin volatility, whi h always flactuate.

I don't have any insights or never heard of a rumor that bitcoin will be used a national currency. I'm thinking more of it as a secondary payment method or an alternative currency but government will never declare it as a national currency. That's a big deal when a country calls bitcoin as their national currency, they are taking a big risk for doing it so and besides not all the people can adopt this such technology.

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November 23, 2017, 10:50:50 AM
 #440

Bitcoin can't be a national currency because govs won't let it be.
We're still in the beginning of bitcoin development, still on scale debate to make bitcoin could afford so many transaction per second and we shouldn't pay a higher fees. Another factor that may a big problem is bitcoin volatile, a country can't adopt a currency which always fluctuate, even third world countries in Africa using US Dollars as their legal currency.
this is so true,  already bitcoin has created a threat in the mind of government and others as bitcoins has a transaction transparency which cause no idea to the government about the online transactions so that they won't keep an check on these and neither they get to know about it. Not even these bitcoin is free from any transaction fees which make government lose the opportunity to imposed tax on the people's on every transactions.  So this is what trouble them more.  So I don't think so that this will be going to take place ever in future that bitcoin is accepted as a national currency in a country.
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