BTC as a national currency?

[fearcoka]

I think the US government is developing its own cryptocurrency right now, which might become a national currency

National currency will be accepted by a country when there are large number of people follow the same currency and I think bitcoin is not still at that stage but it is more possible that bitcoin will cross this target and will become national currency.

The Btc problem today is not the scarcity of currency but the high rates and the overhead in its transactions so that a country adopts it as currency would have to solve all those problems that it has today. On the other hand the difficulty of obtaining btc would not be so much because the currency works quietly fractioned, then would give to use it in the day normally, besides facilitating the payment of accounts inside and outside the country.

You have to know liquidity, fast system and cheap fee all the requirement for a national currency. No one wants to spend more than 10 dollars for every transaction through Bitcoin though just need to spend few dollars for payment. Beside that, the current capacity of Bitcoin system isn't enough to becomes a national currency .

[fanita]

I was wondering if true bitcoin would be a national currency amate, and I've heard there are countries that already recognize bitcoin as the national currency. now technology is growing and economic growth is getting better, it needs an initiative and now its growth is much greater than that of countries that have not acknowledged bitcoin as national currency. In the future you will see for yourself how bitcoin plays a national currency.

[louisedem]

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?

Actually, Bitcoin for this current situation can now be somehow considered as a national currency since a wide range has already been captured to be using Bitcoin cryptocurrency as their personal currency has some states and/or countries are now recognizing not just Bitcoin's presence but also the other existing cryptocurrency which are widely used in a global scenario. The possibility for Bitcoin to become a national currency  is literally and really observable since there are traits and good characteristics to be in lined with to be essential to be used as a national currency.

[Harper6]

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 there is a possibility that bitcoin can be a national currency or it may also go the other way around. Because of its advantages over fiat, government may finally utilized it and made it a national currency for good. But on the negative side of bitcoin, government may also be the first to oppose the use of bitcoin because it's decentralized, and of course, a perfect tool for criminals to commit crimes.

There is no possibility for bitcoin to become a national currency because if it is possible then the people or the government already adopted bitcoin to their system but as you can see that bitcoin is not being accepted as a national currency because there is a lot of problems if they do like the fees that are extremely high and even though you will just spend 10 dollars then you will be paying more unlike the fiat currencies that are well regulated. Accept the fact.

The way bitcoin is going fast I’m sure it will be become national currency because bitcoin is a fast growing currency and its use is going very high and a lot of countries make bitcoin legal so its mean world need bitcoin and in coming time bitcoin will be more useful for world because its helping countries in their economy bitcoin is now very valuable and its some people are donating it to poor countries as well so I’m sure bitcoin can be an national currency.

[Shamburis]

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 don't think that bitcoin would become a national currency because bitcoin transactions are online and not all people have there gadgets to transact with bitcoin, bitcoin now is using in many countries and it is well known, but some poor people do not know exactly what bitcoin is.

[deadthings]

In future of course it could, some of investors believe that it will just replace material money in some countries so why not become national currency at the same moment?

[jak3]

Come on bro let's get serious I do not see any chance that Bitcoin will never become the national currency of any country. No offence but there are a lot of menu another cryptocurrency out there which does not have a lot of problem with them I agree that they are too much violent right now but in future if we find another coin like Bitcoin which has a stable market but with low price then that will have potential to become a nice ok well see I guess. All I can say is there is a lot of problem with Bitcoin right now and the main problem is the transaction fees if it gets all then I think it has some chance.

[Victorycoin]

Why not? I think a lot of countries including US are looking into Bitcoin and considering their options in terms of how to incorporate this technology into their governments and political systems. And also how to get the people on board, because that could be very hard.

Recognizing, incorporating and even legalizing Bitcoin ought not to be confused with becoming a national currency. A national currency is a symbol and an instrument of control governments across the globe put to use in the control of affairs of their various countries and that makes Bitcoin, which is borderless, decentralized and censorship resistant a misfit, no country would be willing to accord the status of their national currency.

Japan by legalizing  Bitcoin for instance, did not have to undermine the Yen, which remains their national currency.

[Omega Weapon]

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?

This is highly unlikely, no government is going to choose bitcoin as their currency, even a country in deep problems will prefer to use other fiat as their national currency, if they proved to be inefficient in managing their own currency, now that does not mean that the people of those countries will not adopt bitcoin in order to protect themselves, this is something we are seeing a lot in countries with problems in their economy and that we are going to keep seeing for some time.

[anonbit992]

Governments want a currency that is under their control. If they can't control it, then they are not going to make it as a national currency. Governments all over the world, regulate the flow of their currency in order to fight inflation and deflation in the economy. Bitcoin doesn't allow anyone to control it. So no chance to see bitcoin as a national currency.

[eastgrand]

I don't think it can, it will confuse the population having to pay things at a fraction of 1 Bitcoin. Then the volatility of it is going to stop people from spending money on things. Because what if it goes up.

[removebeforeflight]

BTC as national currency will happen but it would take some time like 5 to 10 years. All the cryptocurrencies like altcoins also would be part of national currency, each country would choose their own cryptocurrencies as their denomination. Things are changing day by day and this transformation also would definitely occur in a slow and steady phase.

[ymirymir]

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?

Well it will not happen that fast because not all people are aware of bitcoin yet. Some might be aware, however, bitcoin is not yet widely used by people. Some people are not even using their bitcoin for transactions. Some are just hoarding for future income. It's true that bitcoin is really profitable, however, I really think that bitcoin's real purpose is to be used as a medium for transactions.

[surgical_duude]

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 that if Bitcoin develops strongly and meets the needs of a country, it will be the main currency of that country, but Bitcoin is still unknown to many. This makes Bitcoin more difficult to become the main currency

[UsernameBitcoin]

I think Bitcoin won't be used as a National currency. Most likely governments would make their own cryptos and do with them as they please, but they need it to be centralized so that they can control it whereas Bitcoin is decentrlized and therefore not really applicable to be used or adopted by governments. This isn't a bad thing either, because the purpose of government is to control and regulate as long as it's for the benefit of the people like catching criminals and tax evaders.

[Omega Weapon]

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?

national currency for one country bitcoin is Global currency every one have internet access can download wallet and start using bitcoin.

it is impossible for all countries to  make 1 currency

It is impossible but some politicians all over the world are trying to do that, just look at the euro the currency for a full continent that is bound to fail, a closer political union made sense since the two world wars were devastating to the continent but then they tried to force economic union and as we have seen it is not going to work and this is going to dissolve the political union as well.

[Riska katom]

I do not think Bitcoin can be the 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 impossible to become a national currency. This is not a paper currency, no use without the internet, because all this can not be a national currency.

[carter34]

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 difficult a thing to achieve even in a long time. The reason is that bitcoin is decentralized and so many countries would not allow for that. The countries would want to guide their sovereignty.

[NicG13]

Any national currency would have to have the state or the nation in control of the money supply. That's not possible with bitcoin. Also, any currency that is supposed to support a large-scale, developed economy needs to be inflationary which, again, bitcoin isn't.

[cuplisbird]

I hope so but it is very difficult to apply digital currency as the national currency of any country. As if we look at the currency of the country each currency is formed from the first day of formation of the country. So it is not easy to say that bitcoin can be the national currency of any country but still we can look forward to this.