What country do you think will recognize Bitcoin as an official currency?

[FLoving]

I think for bitcoin to be a real currency, government have to accept it first.

So I ask what country do you think will recognize it as a currency?

This is still too far fetched. Any country right now is not going to make it its official currency, that would mean to dump their fiat and adopt a whole new currency, that will cause a major economic crisis in that country of not handled properly. Most likely what could happen is btc being officially legal in some country, that is relatively possible and some countries are already very close to doing that.

These are all our prediction about bitcoin and the future. No one actually knows what will happen in the future. There are so many countries which are looking very much positive from their attitudes towards the establishment of bitcoin. It is very much possible that France will be the country who will be recognizing bitcoin as official currency in the near future.

[faceoff97]

There is still lots of development to be made before it become a currency. But if you mean, bitcoin as a form of payment there were lot of country adapting bitcoin for this kind of use. Like in my country, it was not yet declared government acknowledged  yet different institutions are accepting bitcoin as a form of paymennt. Government institutions like health and life insurance do accept this kind of payment. Though it is accepted as form of payment in my county, we cant still call it currency. The bitcoin users in my country is not so big in number, maybe just the internet people only knew about it.

[gabmen]

I think for bitcoin to be a real currency, government have to accept it first.

So I ask what country do you think will recognize it as a currency?

This is still too far fetched. Any country right now is not going to make it its official currency, that would mean to dump their fiat and adopt a whole new currency, that will cause a major economic crisis in that country of not handled properly. Most likely what could happen is btc being officially legal in some country, that is relatively possible and some countries are already very close to doing that.

These are all our prediction about bitcoin and the future. No one actually knows what will happen in the future. There are so many countries which are looking very much positive from their attitudes towards the establishment of bitcoin. It is very much possible that France will be the country who will be recognizing bitcoin as official currency in the near future.

Unlikely to happen. Though it's possible that soon more countries will adopt btc, they won't go as far as making it their own currency. I don't think any government will risk that because they would have limited control over it

[Apened]

I think for bitcoin to be a real currency, government have to accept it first.

So I ask what country do you think will recognize it as a currency?

The sure thing i know is the government will going to accept bitcoins but they will not accept it as the main currency bevause they have no power in bitcoins they have no tax or few tax it depends by the rules of a state after accepting bitcoins

[kpcian]

a long way to go Bitcoin for becoming an official currency of a government, because being an official currency there are a lot of formalities have to be maintained. japan and South Korea are considering it as a legal money but not officially, so that Bitcoin has to be more formal and hopefully Bitcoin will be a dominant factor in the digital world.

[Heyyyrenz]

No country will accept bitcoin as their official currency you know why? First of all if all the people in the country will work in cryptocurrency and earned a lot of bitcoin. how are they going to put taxes on every people that earns a lot? How will the government will track people who earns legal and illegal.

It's complicated that bitcoin can be used as a official currency because not all people are not into technology and some of the people can't understand what bitcoin is, how it was earned, produced etc.

[Nahl]

if i'm not mistaken none of countries currently admit bitcoin as their main currency although there are several countries admit bitcoin as the currency but even so seems they didn't interested to make bitcoin as their official currency and mostly all of them still stick to their local currency and in my view too many issue regarding use bitcoin so the countries won't considering it

[suzanne5223]

Japan has accepted bitcoin as a legal form of payment and Australia would be following Japan soon. Actually for any country to make Bitcoin their official currency that would not be that easy or even possible because for that a nation has to be so developed that each and every of its citizens must have the knowledge about bitcoin and overall Internet connection for each and every citizen. I do not think any country is that close to such development.

You're right about what you said concerning the Japanese government and concerning the issue of a country making bitcoin their official currency is not going to happen because such thing will created a sort of challenge/battle between bitcoin and their national currency which is the same reason why the Chinese government are acting weird sometime. Though they didn't endorse bitcoin as currency but they are doing everything they can in other to save their national currency. What the government can do is to create their own National Cryptocurrency

[TheUltraElite]

No country accepts bitcoin as official currency - there has been a lot of official talks regarding this but no one is ready to accept it. This is understood because the governments run on taxation and there are people who tax the citizens. Bitcoin stops this and does not allow any taxation however a citizen may pay them still if the governments ask for it, but not involuntarily.

Since bitcoins are not regulated there is no way that the countries will be able to tax their citizens and the banks will collapse. Corrupt governments will no longer be able to operate like usual and thus there will be a distortion in the economy.

[atc1-REAL]

None at all. The very concept of btc is antithetical to the idea of control of finances of the citizens by the state. The only way I see how is if they find a way to control/track the bitcoins any person has, at which point we're back to the present banking system. Plus the blockchain works on verification, and if theres no activity by other peers, transaction times would be lengthy and time consuming, unlike the present scenario where money can be transferred immediately.

[chickenado]

No country accepts bitcoin as official currency - there has been a lot of official talks regarding this but no one is ready to accept it. This is understood because the governments run on taxation and there are people who tax the citizens. Bitcoin stops this and does not allow any taxation however a citizen may pay them still if the governments ask for it, but not involuntarily.

Since bitcoins are not regulated there is no way that the countries will be able to tax their citizens and the banks will collapse. Corrupt governments will no longer be able to operate like usual and thus there will be a distortion in the economy.

Well,if that's a big possibility then how would our country will look like if that case is a kind of unacceptable in governments? If banks will collapse,then what about if bitcoin will manage which is similar to banks but I guess banks won't collapse that quick. I agree on the part that you mentioned on taxes, taxes are everywhere and it annoys me all the time. If only we can suggest to our presidents to which country we belong and have a votation or survey of this matter.

[a4techer]

I think for bitcoin to be a real currency, government have to accept it first.

So I ask what country do you think will recognize it as a currency?

Many country was already recognized bitcoin or already legal if im not mistaken like bangladish, nigeria, zimbabwe,  canada, united states of america at many to mention that's why here in bitcoin have many investor because of the legality of bitcoin  and the amount of coins was already going up not like past years.

[vintages]

No country will make it an official currency.
Reason been that some countries do not officialize or accept cryptocurrencies. So any country that will ever do that is cutting themselves off from trading with countries in the case of raw materials.
Besides, it may sound awkward, but there are many countries in this world that do not know anything about bitcoin or any cryptocurrency.

[mkmdoc]

Bitcoin is a limited supply coin so it is a really bad idea if a country announces Bitcoin as an official currency because surely it will effect on their economic growth because they need to use Bitcoin as an alternate currency for payments.

[okissabam]

In my own opinion the best candidate would be Japan, because they are more technological so basically I wouldn't wonder if Japan would be the first country that will recognize Bitcoin as an official currency. It really makes a lot of sense if that's the case.

[Thyaga]

I think that Japan is the first country candidate to use bitcoin as official and legitimate payment, secondly there is Singapore because singapore is the headquarters for many blockchain start-up.

[audaciousbeing]

I think for bitcoin to be a real currency, government have to accept it first.

So I ask what country do you think will recognize it as a currency?

The truth is that I don't see any country adopting bitcoin just yet not because its bad or because of all the bad happenings they are quick to ascribe to bitcoin but because of the pride of the managers of the economy. The prefer to continue with policies of Cambridge and Oxford thesis to be imported into their economy without having to understudy what will suit their countries the most even the economy of where the schools are domiciled, are only struggling.

Until when they realise the whole economic method are only temporal for keeping the economy in shape, they would try something else.

[Hasbro27]

I do not think there will be a country that applies bitcoin as its currency, because the negra already has its own currency, maybe bitcoin as an alternative payment and investment

[ss890]

I do not think there will be a country that applies bitcoin as its currency, because the negra already has its own currency, maybe bitcoin as an alternative payment and investment

I believe this is what will happen. Countrys have there own traditional currency and nobody will really capture the bitcoin as there real currency because it doesn't work like that. Currency is completely different thing. The money that flows within the nation or outside the nation is circulated with market cap which is way way way bigger than all the 21 million bitcoin together. Just imagine how much money is generated everyday in the RB and how much is really needed to recirculate. It's completely different thing than virtual currency. So I'm speculating that no country will really or won't be accepting it as officially currency.

[Freezingel]

I think for bitcoin to be a real currency, government have to accept it first.

So I ask what country do you think will recognize it as a currency?

It's hard to know this because every country surely prefer their own digital currency  as the official one. But if i have to choose than maybe it will be Japan, the leading country in term of crypto currency support.