if bitcoin becomes the country's currency

[sjdk]

If it is going to be declared as one country's currency it would be pumped as hell. Be sure about it. Current market cap of bitcoin is high but I can't even imagine if country like for example, ireland, using it.

Bitcoin is difficult to become a currency, and it is impossible for governments to make it a unit of account for economic activities and transactions. This is a fundamental attribute of money, and bitcoin can hardly change the credit ecology in a modern economic environment. To reduce the pro-cyclicality of finance, the feasible way is to reform the existing monetary pyramid and standardize finance, rather than restart the stove.

[babarian]

I think this is a very difficult thing, my country has banned bitcoin, even more and more countries are banning bitcoin, if that's the case I would be very happy because bitcoin can be used as a legitimate currency in my country

[artemchernov503]

Transfer fee However, if the transfer is to be made immediately, you will have to pay a commission that you yourself decide to pay the more you pay, the more will be the transfer.

[pelipurlara]

bitcoin will never become the national currency. Because bitcoin is a virtual digital currency. Bitcoin is created for every transaction in place of cash. bitcoin has a certain limit value and it will reach the lowest value of zero.

I think Bitcoin is only used in virtual life but not everyone in a country is not interested in using the Internet for shopping or receiving money about their daily lives. So it is very difficult to become the main currency. Bitcoin will also be a threat to economic conditions because of a decentralized system whose value can not be affected by any policy

[mak2017]

Looking at that fact is it possible bitcoin will be the currency of a country?
And can bitcoin change the country's economy for the better?

Sadly will never happen, governments will never accept something they can't control - bitcoin.
Most likely countries will issue it's own local crypto currency, which they can control and influence the price.
Crypto currency will definitely help some countries to overpass sanctions, and most likely boost economy of this country.

[Minionnn]

It is difficult to make bitcoin into the country's currency. Despite the robust development of bitcoin and it's convenience, many still do not trust it. So many governments do not accept bitcoin. In a country, a lot of people do not know what bitcoin is, there are some elements who don't known about technology, refuse to learn new things, and barely understand the bitcoin knowledge.

[MFY151]

No its not possible. Because there is no country which has population of same IQ that is needed to use Bitcoin. There is always to be some dumbass, that doesn't know anything about technology, and keep being ignorant, because he/she/it doesn't want to learn new stuff.

Aside from that, the country's economy and market itself would be totally reliant to internet and they should be able to provide internet services throughout the nation plus the market price would be very volatile to be used across that county.

[Odlanyer]

I think bitcoin that will not be currency because not all country are agree on bitcoin they ban bitcoin because they can't control it and not all country are have an internet access and not all people have an account on bitcoin.

[rafi035]

The popularity of bitcoin has now grown so rapidly that almost everyone in different countries recognizes and utilizes bitcoin either as a business asset or as a means of payment transactions.
And as we know so far the bitcoin legality is still a consideration for governments in various countries.

Looking at that fact is it possible bitcoin will be the currency of a country?
And can bitcoin change the country's economy for the better?

if to be the currency of a country I think it takes time and process long enough because to replace it it must be accepted by all society and all groups

[xiboothrezi]

Bitcoin is difficult to become a currency, and it is impossible for governments to make it a unit of account for economic activities and transactions. This is a fundamental attribute of money, and bitcoin can hardly change the credit ecology in a modern economic environment. To reduce the pro-cyclicality of finance, the feasible way is to reform the existing monetary pyramid and standardize finance, rather than restart the stove.

You are right because no government can fully control the bitcoin. because the bitcoin is decentralized. The greatest possibility is that a government creates its own cryptocurrency which they can fully control.

[itoyitoy123]

We cannot assure that bitcoin will be a country currency because of the people that dont know about bitcoin or in the crypto world and some people want to help others so that they also know what it is but they’re always refused about it because of the ignorance and not a open minded people, thats why we can say bitcoin will never be a country currency.

[OrangeII]

We cannot assure that bitcoin will be a country currency because of the people that dont know about bitcoin or in the crypto world and some people want to help others so that they also know what it is but they’re always refused about it because of the ignorance and not a open minded people, thats why we can say bitcoin will never be a country currency.

you are right. Nowadays, bitcoin will just be an investment tool, or payments on the internet. there are still so many things to keep in mind. it will make the economic balance becomes unstable because of the btc price of the dump and pum quickly.

[Question123]

The government of each country will not accept bitcoin become currency. Because we have different currency and every country has taxes by using own currency. What the bitcoin can get taxes if our use it. So I think it's not reaility to happen or impossible to happen. Because also we hve big effect on the globalization because some people are investing in other currency and sell it if price increase.

[anhhungcolao]

Bitcoin can not become the currency of a country. maybe a cryptocurrency with features similar to Bitcoin will become international currency, except my county.

[lelylely]

The popularity of bitcoin has now grown so rapidly that almost everyone in different countries recognizes and utilizes bitcoin either as a business asset or as a means of payment transactions.
And as we know so far the bitcoin legality is still a consideration for governments in various countries.

Looking at that fact is it possible bitcoin will be the currency of a country?
And can bitcoin change the country's economy for the better?

No, bitcoins can not be made in a country's currency. Although in the future crypto became very popular and the country adopted the crypto system it is likely the country will make their own crypto currency.

[mornabo]

I think this is a very difficult thing, my country has banned bitcoin, even more and more countries are banning bitcoin, if that's the case I would be very happy because bitcoin can be used as a legitimate currency in my country

it seems that many governments are very anti with bitcoin, bitcoin potential that will harm the government is the reason, but if the government can be a little friendly, maybe they can give certain rules so bitcoin can only be the option for local currency, that would benefit both parties right?

[samidhu1]

then the internet will be the first and most we need then, it all depends on the internet because we trade on the internet and if lose the internet
we will lose the cyber world also the crypto

[dekafee79]

The popularity of bitcoin has now grown so rapidly that almost everyone in different countries recognizes and utilizes bitcoin either as a business asset or as a means of payment transactions.
And as we know so far the bitcoin legality is still a consideration for governments in various countries.

Looking at that fact is it possible bitcoin will be the currency of a country?
And can bitcoin change the country's economy for the better?

It is impossible, I think is very difficult for bitcoin to be used as a currency used by a country, because every country has own currency. Bitcoin is the higjh volatility, it is difficult be comes the country's currency. Maybe In the future it will happen. If the bitcoin is more stable.

[MNtrio]

The popularity of bitcoin has now grown so rapidly that almost everyone in different countries recognizes and utilizes bitcoin either as a business asset or as a means of payment transactions.
And as we know so far the bitcoin legality is still a consideration for governments in various countries.

Looking at that fact is it possible bitcoin will be the currency of a country?
And can bitcoin change the country's economy for the better?

It think it is possible if government of the country will accept bitcoin. As I observed a lot of country are using bitcoin and we can say that it bitcoin could really become the countries currency.

[zhelis74]

The government of each country will not accept bitcoin become currency. Because we have different currency and every country has taxes by using own currency. What the bitcoin can get taxes if our use it. So I think it's not reaility to happen or impossible to happen. Because also we hve big effect on the globalization because some people are investing in other currency and sell it if price increase.

Yes, its hard to attain because each country's has its own currency that have been protected and if that will happen then all establishment in a country from the highest down to the smallest level should have the system to accept bitcoin transaction and it should be granted that internet was fully harness into the different corner.