BTC as a national currency?

[Clairvoyance]

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 huge risk if a country adopts Bitcoin as its main national currency. Not only the price is so much volatile and it can spike up or go down any minute.

[Kindless]

If my country accepts BTC as a national currency I would love em.

[jostorres]

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.

The big hurdle for government to make it a national currency is the same that you have explained. Government want to control bitcoin and this is the only reason why they are all the time working on methods for fighting against it. Some countries have that’s why declared it illegal because they cannot put tax on bitcoin and don’t earn from it. Bitcoin is public currency not government.

[sumanto]

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?

yes of course bitcoin can be a world currency, when bitcoin has been received in the whole world then this will be the trigger of bitcoin price increase, bitcoin price will be more expensive because they are in droves to get bitcoin.

[Sled]

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?

yes of course bitcoin can be a world currency, when bitcoin has been received in the whole world then this will be the trigger of bitcoin price increase, bitcoin price will be more expensive because they are in droves to get bitcoin.

Nope, bitcoin cannot be a world currency because world currency means all of the people are using it but with the supply of bitcoin which is only limited to 21 Millions then it is not enough for the a lot of billions of our population. Bitcoin cannot become a world currency but it can be an option for our world's mode of payment.

[Mainman08]

Bitcoin will not become a national currency. Because bitcoin can't be use by all levels of the society. And not all individual know what bitcoin is.

[gesdan]

for the short time i think bitcoin can't be the national currencies maybe in the next 10 years or more bitcoin can changed the physic payment in offline store, you just need your bitcoin in your phone to pay something, but bitcoin can't be the national currencies because national currencies in a country is an identity for them about their country

[White Christmas]

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 bitcoin will not be anymore a national currency since some of the countries in the world already banned bitcoin. Maybe in the future, most of the countries will legalize bitcoin so that we can use it to buy something we want or even to pay any expenses for traveling around the world.

[Adrianoff]

Bitcoin cannot be a national currency. Maybe, it could become an international. But to say honesty, I would bet on Ether, because I'm quite tired when I need to wait for BTC transaction confirmation for a couple of hours when I needed to transfer asap. Ether is doing much better there. However, I believe in BTC, but it is hyper-volatile.

[thecoder2017]

I don't think so because once that Bitcoin will become a national currency people living in poor countries will be affected because they don't have the modem technology to use in their transactions and it's very hard to use especially when you buy on small stores and also in paying small transactions

[fuer44]

I don't think so because once that Bitcoin will become a national currency people living in poor countries will be affected because they don't have the modem technology to use in their transactions and it's very hard to use especially when you buy on small stores and also in paying small transactions

I agree with you, I also live in the same country as you, where technology has not been so following the developed countries. I think it will be tough when bitcoin becomes the nasonal currency, because for some people, they will find it hard to get it.

[MakeMoneyBtc]

It is impossible for bitcoin to become a national currency from a lot of reason. First of all the transaction fees are t high and also the time that it takes for a transaction to be confirmed is pretty big if you pay a small fee. If you want to buy a coffe or a juice you would have to pay 5-6$ for the product + 4-5$ the fee for transaction so at the end you pay double the price.

The second problem is the big fluctuations of the price. One day a bitcoin can worth 8000$ then the next day it worths 6000$. This will obviously affect a lot of merchants because most of them have to calculate their profits everyday or every 2-3 days.

[Granxis]

It is impossible for bitcoin to become a national currency from a lot of reason. First of all the transaction fees are t high and also the time that it takes for a transaction to be confirmed is pretty big if you pay a small fee. If you want to buy a coffe or a juice you would have to pay 5-6$ for the product + 4-5$ the fee for transaction so at the end you pay double the price.

The second problem is the big fluctuations of the price. One day a bitcoin can worth 8000$ then the next day it worths 6000$. This will obviously affect a lot of merchants because most of them have to calculate their profits everyday or every 2-3 days.

Everyone complains that the transaction fees are high, but what does this have to do with the issue, do you think Bitcoin will not be a national currency because of high transaction fees?

[X-ray]

It is impossible for bitcoin to become a national currency from a lot of reason. First of all the transaction fees are t high and also the time that it takes for a transaction to be confirmed is pretty big if you pay a small fee. If you want to buy a coffe or a juice you would have to pay 5-6$ for the product + 4-5$ the fee for transaction so at the end you pay double the price.

The second problem is the big fluctuations of the price. One day a bitcoin can worth 8000$ then the next day it worths 6000$. This will obviously affect a lot of merchants because most of them have to calculate their profits everyday or every 2-3 days.

Everyone complains that the transaction fees are high, but what does this have to do with the issue, do you think Bitcoin will not be a national currency because of high transaction fees?

I think yes, if the transaction fees on the bitcoin goes high and what will be happening with those are thinking about the crypto fees was so cheap compared with the bank transaction.
The people are using crypto to get an alternative way to get cheap transaction. just like if you are making a transaction and it cost 3 cent for each transaction.

[Marivic13]

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?

For my own opinion ,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. And also because. Once that Bitcoin will become a national currency people living in poor countries will be affected because they don't have the modem technology to use in their transactions and it's very hard to use especially when you buy on small stores and also in paying small transactions...

[allthingsluxury]

I could see a poorer country doing this in a time of crisis.

[muhammad-adnanzain]

No, bitcoin is not a nation currency because currency is an identity of the nation, every nation have own currency that custom to regulate on their nation.

[neonshium]

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.

This is just the beginning of an era of bitcoin as well as all other crypto currencies which are there in the world of crypto currency. Bitcoin is very much capable of becoming a national currency but the thing is it is too early for this thing to happen.

This will of course take lot of time and the government actually needs some time for thinking of making some good decision in the coming days.

[s2]

My hunch is it will never be a country's currency because a country almost by definition needs it's own currency to control supply, allow national debt (which is generally a good thing btw, not deficit which is generally a bad scenario), and enable taxes to be tracked accurately.

That said, I see it almost inevitable that a cryptocurrency will back a nation's currency eventually and why pick anything but the most decentralised secure chain to do this with... at the end of the day backing a currency is about showing the national currency has tangible value outside of the country.

We may see the nations like Venezuela, Iceland, Zimbabwe adopt a cryptobacking approach first starting others to follow suit.  There is very little drive for more wealthy nations to adopt cryptobacking just yet so ironically these messed up economies may end up receiving a massive transfer of wealth as more countries need to adopt an official exchange rate of local currency to bitcoin. 

The on/off ramps to crypto however are likely to be heavily regulated, seems only sensible at this stage but even this may change over time.

[shezu007]

this will be an excellent when bitcoin will become as a national currency but remember that bitcoin is  still not have get such high popularity and value in world that it will become national currency. still bitcoin need large performance and time to get maximum number of users and their interest and become legalize then the probability of acceptance will be increased.