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Author Topic: Bitcoin as national currency?  (Read 660 times)
Rc Cola
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February 27, 2018, 01:44:01 PM
 #81

I think it will have a disadvantages and advantages. The advantage it will not be hassle to carry your money it can be in your mobile phone also when digital currency became the mode of payment across a country transferring money will be easy. The disadvantage is the digital currency is an internet dependent also old people will not be easily understanding what these means. Also digital currency will having a long run to become the national currency because many banks/ companies will opposed in the said decision. Though it will be a benefit to us as a Bitcoin investors there are bad sectors that will be happening to other people.
 
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February 27, 2018, 02:06:45 PM
 #82

Could it be possible that in the future there are countries that use bitcoin as the national currency??
no. Bitcoin is decentralized, and the government will avoid anything without a full control. It is too risky for a country if the national currency is something decentralized like Bitcoin without full control over the governments. Even though there is a good side, I believe there will be a lot more of bad side.

Japan is already doing this Smiley.  Zimbabwe is another country that could do this and so is Ireland. As of now it's really difficult for any major country to come out and make it, reason is most of the country's are keen on banning it. So there's little change to see this happen anytime soon, few years down the line I feel yes.
I don't think the government fully accept Bitcoin as a payment system for their country. It just the government is in favor of Bitcoin.


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February 27, 2018, 06:27:39 PM
 #83

Could it be possible that in the future there are countries that use bitcoin as the national currency??

Bitcoin is a digital currency acceptable all over the country, and working perfectly online transaction, Never the less any country want to create it own crypto currency by the government approval, is the Best idea so far, because the rate of bank stress and risk we reduce. Because we are now on digital world by using soft wallet...

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March 22, 2018, 05:20:19 PM
 #84

Finally, the drawdown has come to an end and I hope that many have bought the bitcoins advantageously because now there is growth.
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March 22, 2018, 05:35:50 PM
 #85

If a country uses a bitcoin currency in my opinion it is highly unlikely, in the country's economy. see Bitcoin at an unstable price because of its enormous influence on the country's economy.

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Johnny Lgz
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March 22, 2018, 05:46:09 PM
 #86

I do hope that when a day come wherein we could use bitcoin as national currency, just imagine you can just freely travel all around the globe and no worry to come with your money exchanger.
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March 22, 2018, 05:50:18 PM
 #87

 If bitcoin becomes national currency, then most likely it will be some kind of a new country. Existing countries and governments will not allow bitcoin replace the national currency, because bitcoin is not possible to control.
 There is a version that bitcoin holders will soon buy themselves a piece of land and create their own country, that's where BTC will be the national currency.
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March 22, 2018, 06:06:50 PM
 #88

Could it be possible that in the future there are countries that use bitcoin as the national currency??
It couldn't be possible if just use bitcoin, there is a possibility if use altcoins that is similar with a currency of a nation such as usdt for usd in virtual world.

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March 22, 2018, 06:19:44 PM
 #89

IMHO, If you mean using bitcoin as payment to all daily transactions of all the people buying their daily needs ,wants and etc.,  then its impossible. We all knew that bitcoin has a delayed confirmations. For example if you buy a soft drink in the street and pay with bitcoin, you need to wait at least a couple  of minutes or longer to reflect the bitcoin amount to the wallet of the receiver. So I think a country will make their own utility token with super fast transaction, at the same time this token can be traded also to bitcoin.

Akash1243
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March 22, 2018, 06:24:52 PM
 #90

Nope as bitcoins are now it is not possible to be an national currency and I doubt it ever will be firstly because it is decentralised how would government even use it as a national currency if they can't even use them and also bitcoins are highly volatile and unpredictable which you cause confuse among many people using or accept them as national currency.
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March 22, 2018, 06:28:13 PM
 #91

It can be possible but chances are least.This is because Bitcoin has no physical form and it is decentralized in nature that's why government or bank is not able to control the transactions made through Bitcoin. So I don't think that any government will allow such currency over which they have no control to replace fully trusted fiat currency. No doubt many countries are trying to be cashless nowadays and Bitcoin can be a help in this approach so they can support Bitcoin but declaring Bitcoin as their national currency is not possible.


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March 22, 2018, 06:34:13 PM
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 #92

It is possible and at the same time it wine very hard for that to happen because most countries at this present time are against bitcoin and are seeing bitcoin as a threat to there financial system and at that government are always against and attacking bitcoin but any country looking for ways to grow it economy and being able to control or regulates it activities must first of all accept bitcoin as part of they national currency.

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March 22, 2018, 06:34:53 PM
 #93

Could it be possible that in the future there are countries that use bitcoin as the national currency??
I think it is impossible because  the price of Bitcoin can't be controled by government.
But if the country use blockchain system it is possible, very very possible.  Wink
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March 22, 2018, 06:39:42 PM
 #94

Could it be possible that in the future there are countries that use bitcoin as the national currency??
bitcoin run already like international currency but not really in all things

We can use this to do transaction all over the world like variety of payment method but still because of the volatile price of it some countries not acknowledge it like in our country even we already use this

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March 22, 2018, 06:45:16 PM
 #95

bitcoin can not belong to a nation, it is against it's grain. first feature of bitcoin is to be decentralization and being as a antional currency makes bitcoin centralize.

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March 22, 2018, 06:47:04 PM
 #96

Could it be possible that in the future there are countries that use bitcoin as the national currency??

It would not be possible. Even a country already accepts bitcoin, it would be hard to adapt it as a national currency. People in that country must be interested in bitcoin and must be using it. Considering that it is a cryptocurrency, not all people have an access to it especially those with no internet.

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March 22, 2018, 06:48:09 PM
 #97

I think that all of the countries will produce their own digital money.States have to keep pace with technology.Those who can not compete will suffer economic difficulties in the future.

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March 22, 2018, 07:12:00 PM
 #98

Bitcoin being the national currency of a country could be possible when the majority of the public have embraced the advancement of the way we transact with money. However, due to the unpredictability of BTC price, it is highly unlikely unless regulation and stability takes place.
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March 22, 2018, 07:13:21 PM
 #99

How can you be paid by bitcoin when today it's worth $100 but tomorrow it's just $80?
It's not kind of money for you to use in daily life man, just on crypto market Smiley
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March 22, 2018, 07:15:24 PM
 #100

This will be better if Bitcoin be our national currency. But I think it is not possible  because some of issues.  It has no physical body and also not controlled by government. People  mine it how much they can. Always  it need internet  ,and think if anyone  has no internet  for a while  they can't pay or accept  bitcoin  from other and transaction will be postpone.

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