Bitcoin as national currency?

[amwer]

In order to deal with ever-growing issues with hyperinflation, the country of Venezuela may soon decide to adopt a new currency: Bitcoin.
As explained by CoinTelegraph, Bitcoin has been the subject of a massive amount of mining and purchasing over the last few months, leading to a number of rumors regarding the country’s desire to incorporate it into their financial structure.

[J Gambler]

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

With the history and the tradition of paper money in some countries, I think that there is a little possibility of this happening because of paper money and their national currency makes countries different from one another and also speaks of the marketability and their economic standing in the whole world. That’s why I think that bitcoin is a supplement but it cannot stand on its own due to the world’s dependency on the paper money and its currency it represents

[jancukiyah]

I think is really impossible to make bitcoin as national currency. Because we all know about the price of bitcoin, they always increase and decrease for several time. National currency should have a stable price, so what bitcoin to do if they want to be national currency just make their price stable first.

[adriaymati58]

I think this is possible to happen in the economic developed countries and maybe we will live to see it happening in our lives

[cryptokingdom]

For now bitcoin can not be totally use as national currency, it has to go alongside with the fiat because most people are not acquainted with the usage of bitcoin.

[Fire316]

      Bitcoin as national currency,i think it is impossible because of the nature of bitcoin,verry volatile and many countries are still against in bitcoin. Another thing,bitcoin is decentralized and every country has a government law to follow in terms of currency to be use.

[00DKM@]

Bitcoin how to become the national currency, I think this can not happen. Because bitcoin is not owned by any country, bitcoin price fluctuations, if used as a currency of a country will not be possible, and bitcoin transactions very difficult, only those who know about electricity smartphones and computers can be made.

[wuhanyan21]

I can see it happening on a very free country such as singapore and others.

[zngit]

It is possible. Everything can be possible in terms of currency. Nowadays there is a country that accept the payment through btc amount equal to the items amount. If this will continue it can be applied in other countries. Then applied by others too. Until the time btc will be the national currency. It takes time to make it come true.

[intoy_victor]

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

I don't know if it is possible for just so easy. Maybe it will but I assure you that it will take a lots of time before it will happened. Because government will discuss it first and also in their congress too and the chief executive will agree also with that so that the policy of a country will be proclaim ASAP that bitcoin currency will replace their local currency.

[Ilegendph]

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

Why would they do that? They have their own currency and this currency have history or something that is important to their civilization and development. Besides bitcoin is an application only of blockchain technology and they can make a blockchain themselves that could be use fo their transactions.

[laimaro]

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

Very much possible, especially in case of developed countries. However, in case of developing countries we need improvements like wide internet coverage and more awareness about bitcoins.

[ethereumhunter]

it is possible to use bitcoin as national currency but we are still far away to see this because we need approval from all the government and we need to fix the fee and else. but after this will solve, then I think we can use bitcoin as a new currency for all countries and bitcoin will be the currency that is used in online and offline life.

[jambul_kribo]

it is possible to use bitcoin as national currency but we are still far away to see this because we need approval from all the government and we need to fix the fee and else. but after this will solve, then I think we can use bitcoin as a new currency for all countries and bitcoin will be the currency that is used in online and offline life.

I think it will be very difficult to make bitcoin as a national currency. Politics will certainly be very difficult and this macroeconomic will require a very deep study.this will be very difficult to apply in my opinion

[GalaxyWorld]

To say that bitcoin is a currency for a country, I find it too small. I think it is more like a global currency. As you invest in bitcoin, you can go anywhere with just the internet, you can easily trade for money.

[Bitcoinnumberone]

Maybe not Bitcoin!

But I totally could imagine some countries creating their own blockchain and therefore issuing their own cryptocurrencie!

Presently, it is still far from reality. With the fall of bitcoin's price. It will be quite difficult for bitcoin to be a national currency. Well, if considering national currency, I guess other countries will just create their own instead of adapting bitcoin.

[btcprospecter]

It is possible that a country could use bitcoin as its currency but it would still always be converted back to a fiat equivalent.

What is more likely to happen is that a country would try and create its own version of bitcoin but would probably lack the same principles as many altcoins like privacy.

[baricuri]

Bitcoin can not be used as a common currency of a country, Bitcoin is not owned by any country and the price fluctuates frequently, if you hold a property whose price fluctuates, you have keep them? I think no one can accept that. And bitcoin is very difficult to manage, the tax evasion, money laundering, are concentrated in the bitcoin market.

[CryptoRothschild]

No possibility at all. However, at some point I guess every country will have their national currency or currencies. Venezuela has already launched one, the Petro, backed by oil, and is going to launch another one backed by gold. Iran has announched the launch of one owns cryptocurrency. Russian is planning an own cryptocurrency too. Other countries will follow for sure.

[Juggy777]

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

Japan is already doing this .  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.