The World Needs a New Kind of Currency

[merrillolive]

It's hope of Tim Draper! also many peoples around the world hope now bitcoin will be lead future currency like dollar and euro! but at present many countries government didn't accept bitcoin as a currency by many kinds of excusing but I think once many of countries will be aware about bitcoin security and they're also accept it.

Bitcoin is a virtual currency, bitcoin can not be the international currency, in terms of science, the application system of bitcoin is not perfect, not meet the requirements of consumers. And some people do not know how to use computers, smart phones, they can not trade bitcoin. I think bitcoin is a virtual currency, used for business purposes by professionals, for personal use.

[Javanewstar]

Why can't bitcoin be an international currency? If lightning network has changed the current bitcoin transfer speed and transfer fees, so the bitcoin is may very well become a kind of international currency, the bitcoin has gained the recognition of most countries.

[hermada]

Fiat banks cant stop this process, they will have a major meltdown again and again, and the trust will shift away from them. Money is basically just trust.

[Harlot]

People like him talking like he is not part of a country thinking that his own government is useless for me is a stupid person. To tell you the truth I don't think we need a new kind of currency at all as the traditional fiat currency is not broken. His reasoning that the fiat currency is tied to the government is really without bearing as Bitcoin without Fiat Currency has no value to stand at all.

In my own opinion without the government supporting Bitcoin or any other cryptocurrency, the growth of them would be limited as the government can do certain actions to prevent it happening.

[chidrawarster]

There will be many coins coming and going, I have seen many ico taking place recently, every week we see new coins, I m also shocked to see whether the usage will be done or are these coins are being launched only for collecting investor funds. I genuinely see many investors in product based coins and also they may be worthy in the future. Always, there are chances that new coins will be coming everyday, we need to just wait and watch what is the there in the store for us.

[jaocoincrypto18]

Why can't bitcoin be an international currency? If lightning network has changed the current bitcoin transfer speed and transfer fees, so the bitcoin is may very well become a kind of international currency, the bitcoin has gained the recognition of most countries.

Bitcoin can't be an international currency because not all people know how Bitcoin will work specially the poor unlike fiat currencies everyone knows how to use it even the children. Bitcoin can be an international currency but limited for investment purpose only so that we could earn more fiat currency but as an currency for everyone to use it for direct spending will be very impossible to happen.

[aleksej.rozhkov]

Given the fact that there are enough crypto currencies, I do not think that the world will need any more similarity.

[czhy20]

Yes, even the way we see and use money must adopt to the advancements in technology. Bitcoin revolutionized the every aspect of making money transactions. Gives people the freedom for their money, and gives opportunity to earn for those who are in need.

[Doge dealer]

I think the world bank and the world governments are also of this opinion that a new global currency is needed if we are going to successfully initiate this "new world order" they may not want it to be this particular crypto / digital currency as in the case of bitcoins they cannot exert the control or influence that they currently do with the fiat money and these financial institutions. He makes reference to the unbankable now becoming bankable through bitcoins.This is particularly welcome especially in the cannabis industry where the traditional banks especially in third world countries are afraid to do business with this sector even though trading maybe be legal in their country for fear that they will loose there correspondent international banking partners, here comes bitcoin to save the day as through its own ecosystem it can integrate and facilitate this sector as they can be payed anywhere in the world they are without even interacting with a single bank, its this "ease" of banking that has created so many detractors of bitcoins in the banking and financial sector .

[jmiro1]

The purpose of the currency is to be used as a media of exchange. It stands to measure the values of commodities and services. Bitcoins or crypto coins are technological advancement of the economic system, but they are currency. They are a different form of currency. These are online money. I don't think there's nothing new can be done to the currency. If another way of exchange can be established then I believe that would not be a currency. That would be something else.

[TIDOVEE]

Well, we would not worry if new currency did not emerge but the introduction of the new currency is a welcomed development, because it a the developing technology side and though we may not expect same thing going the same way for too long time, then it's like the appearance of the new currency is a revolution to transform the world economy for a better.

[Ozero]

We can see that the current crypto currency is not ideal for its massive use. Of course, it needs to constantly improve its qualities. It gradually happens all the time. There are new coins that outperform the previous coins, old coins improve, so the process of improving the crypto currency is constantly. At the same time, the appearance of a completely new concept with the approach to the crypto currency is not ruled out. Time will tell which crypto currency will be more reliable and perfect.

[Blackrain13]

       I think it is impossible to happen that the world needs a new kind of currency and if you think is is a bitcoin,well,it is really impossible. Because bitcoin is decentralized digital currency,in which free from government that's why other country banned because they don't want to accept bitcoin. So,i think we're just happy that bitcoin exist for us and not for the government.

[bloodyvio]

just like the Israel government statement yesterday
https://cointelegraph.com/news/israel-confirms-cryptocurrency-will-be-taxed-as-property-not-currency
I also think bitcoin is an asset to invest not as a currency

[BitHodler]

just like the Israel government statement yesterday
https://cointelegraph.com/news/israel-confirms-cryptocurrency-will-be-taxed-as-property-not-currency
I also think bitcoin is an asset to invest not as a currency

Governments considering crypto's to be properties or currencies only matters when it comes to how they get taxed. I personally don't consider Bitcoin's tool name to be anything definitive, and it shouldn't be.

Bitcoin allows itself to be used as a multifunctional tool that shapes itself to your needs in whatever situation. In other words, the tool name isn't important, the actual usage of Bitcoin is the only thing that matters.

People focus too much on Bitcoin being this or that, while as I said before, aside from tax purposes, it's meaningless. Bitcoin can be used right now, and functions as global/new currency already.........

[FrueGreads]

I think he focus on very good points. One being the unbanked that are definitely a problem in our world since no one really cares about them. They don't give any profit to the banks, so they don't develop infrastructures in their countries. It's incredibly hard to send money to them internationally, and when it's available the fees are huge. All that would be made easy with bitcoin.

He then focus another good point when he says that fiat is subjected to governments whims, and that is of course not possible with bitcoin, since it's decentralized.

As for security, he is right again, since exchanges might be hacked, but as far as I know, the blockchain wasn't, meaning that bitcoin is more secure than fiat. Of course that even though this is true, I must say that development still needs to make bitcoin more users friendly. Bitcoins are secure if you know how to use them, but we must have a system that makes it easy for everyone to keep their BTC secure. Hardware and paper wallets might do the trick, but we are still far from that.

I agree with him, there is no point in selling bitcoin for fiat, but although that makes perfect sense, we are still a long way from that world.

[shield132]

Guys the most curious thing here is that when man says bitcoin is the future currency, he calculates it's price in USD, fiat. So why? Seems you use usd and determine bitcoin's price in it, so it's no longer future if you won't change that way.
Also current model of bitcoin isn't for massive use and whole world/goverments can't depend on miners confirmation.

[real_links]

It's not bad. Bitcoin is waiting petienly for it to be approved worldwide.

[uncleduckerr]

It's not bad. Bitcoin is waiting petienly for it to be approved worldwide.

The wait seems to be over we cracked early adoption last year and mainstream will surely adopt this year either now or later. Once we continue to keep giving people education on what Bitcoin is and how the current monetary system operates they won't ever say no to Bitcoin then.

[exul]

For too long, currency traders have been restricted to a few popular currencies, Bitcoin could bring a new dynamic.