idex100
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March 22, 2018, 07:54:24 AM |
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While I support this use the fact is when I have gone into different PC parts store as part of my IT job and when I talked about them about the possibility of them accepting bitcoin as a payment they all replied the same. It has major volatilities is the major problem they told me about. I think this will be reason for some time being that bitcoin will not be implemented as national currency.
You are very correct.Volatility issue is a major concern.Bitcoin can gain or loose 20 per cent of its value in just 24 hours.With such volatility may be difficult to make plans or budgets without much tensions |
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kuncimobil
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March 22, 2018, 07:57:26 AM |
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of course I would be happy if bitcoin becomes a legitimate currency but needs many changes to make it happen because of course it takes the internet to be able to use it and the government should improve all the facilities available and it will take a long time so bitcoin can be reached by all the community
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sandybindra
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March 22, 2018, 08:00:34 AM |
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It will be convenient if Bitcoin can work as a national currency of every country or major countries that support bitcoin.
Transactions will be very easy without taking the currency of that country. Globally every country will be connected to each other. Volatility may be the issue for this as bitcoin price changes frequently and plus minus 20% is possible within 24 hours. So this may the problem for the countries to make budget as per bitcoin price. But for young generation it will be a boon for all of us.
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evilgreed
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March 22, 2018, 08:04:35 AM |
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While I support this use the fact is when I have gone into different PC parts store as part of my IT job and when I talked about them about the possibility of them accepting bitcoin as a payment they all replied the same. It has major volatilities is the major problem they told me about. I think this will be reason for some time being that bitcoin will not be implemented as national currency.
You are very correct.Volatility issue is a major concern.Bitcoin can gain or loose 20 per cent of its value in just 24 hours.With such volatility may be difficult to make plans or budgets without much tensions Yeap. Therefore when its time to decide when to invest, it will be much crucial if you think about its volatility, while some people tend to buy and just hoping someday they will gain, we could also read through their minds that they are a long term holders and just want some kind of long term investment, which is more stress free compared to day traders which has lot of things to think before buying. If we talk about implementation of bitcoin as a national currency, most of us around here would vote yes because it has good purpose to begin with, just setting aside those risks, besides the blockchain system has a lot of room to improve. |
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idex100
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March 22, 2018, 08:08:18 AM |
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While it is good news for Bitcoin users/hodlers that countries allow the use of Bitcoin as a means of transactions within their border, what will be your position if a country decides to take a step further by using Bitcoin as its national currency?
I doubt this will happen in the nearest future, govs and banks are generally against cryptos, because when all people will realize how much they can benefit from using them, no one will need banks anymore, only if they accept cryptos, but they won't, because that wouldn't be profitable, they wouldn't be able to regulate money flow, as they used to. Exactly,Government greed and the desire to control everything is the main challenge against mainstream adoption of bitcoins.They keep telling us lies that bitcoins is only meant for criminals.We now know who the real criminals are.-Banks with their fractional reserve system,plunging people into debt |
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ahiaba.john@yahoo.com
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March 22, 2018, 08:15:56 AM |
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It will definitely be a welcome development for bitcoin to be used as national currency but it is also a very difficult situation since every government of a nation want be relevant in everything that concerning their country.
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cewekimut
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March 22, 2018, 08:19:08 AM |
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countries wont use bitcoin as their national currency.
what is more likely to happen over the next decade is that instead of using banks standard database models. governments/banks will create their own fiat 2.0 based on blockchain ledgers. and those ledgers will intercommunicate with each other where by something like hyperledger becomes the IMF auditor/controller of each inter-dependant fiat 2.0 blockchain ledger
I think it is very difficult for a country to decide Bitcoin as their national currency. If it is only as one of the currency for transaction or payment, it is possible. But, if my country decides that, they must have considered the positive and negative truth of the impacts and effects. Now, I'm not sure that it will be successful when applying for the national currency. Many people still don't know and even use Bitcoin. Many still focus on their cash or fiat with the standard bank. The price is also not stable, it will give high influence on the future of currency in the country. |
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dakilangisajaja
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March 22, 2018, 08:40:01 AM |
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of course I support this bitcoin and my parents are also supportive here and we are here in our country to support bitcoin and because this will better show its class as a virtual currency.
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DoublerHunter
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March 22, 2018, 11:22:13 AM |
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I am into bitcoin and i really loved using bitcoin and owning some of it but i don't think that it will support or be in favor in bitcoin to be a national currency because it will just bring chaotic scenarios because the people cannot have a fixed price of the items or goods that they will try to buy so i really believed that it is better to leave being national currency to the fiats.
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AllOfArt
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March 22, 2018, 04:53:20 PM |
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I think that will depends of which country you are talking about, Bitcoin is growing and has a lot of future potential.
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5ensei
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March 22, 2018, 05:07:35 PM |
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It would be too risky for governments to put a foreign form of payment as their national currency. They need something that they can control, even if it means creating their own version of bitcoin. However accepting it as legal tender would be great to supplement the economy and maintain growth.
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Viking81
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March 22, 2018, 05:22:42 PM |
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I really doubt that any sovereign state will ever accept BTC as a national currency. You should firstly understand how sovereing monetary system works and its regulation principles function. Secondly, that scenario is against BTC principles of decentralization though it is not a fully decentralized coin. But I think some countries soon will try to elaborate their own sovereign blockchain systems without any direct linkage with BTC.
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Fusion $FSN
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Adiba14
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March 22, 2018, 05:34:21 PM |
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if bitcoin becomes the national currency does not agree because bitcoin is unstable. and also each has its own currency. mash many that need to be repaired from btcoin system itself to be more safe used by the crowd.
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Hovhannes
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MMOCoin-For-Gamers-&-Traders
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March 22, 2018, 05:55:21 PM |
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I support this, but... I do not think that the central banks will agree to this, because it is against their fundamentals. In my opinion, sooner or later bitcoin will be adopted as a kind of asset and no more.
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must_have
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March 22, 2018, 07:14:25 PM |
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No!! We must use paper money. If you talk about trading, of cource i'll support it more. But national Currency must be a paper money: it is simply for government and people.
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Viking81
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March 22, 2018, 07:37:43 PM |
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No!! We must use paper money. If you talk about trading, of cource i'll support it more. But national Currency must be a paper money: it is simply for government and people.
As for developed countries, paper money is outdated already, cashless economy is in priority. |
Fusion $FSN
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Girtod
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March 22, 2018, 07:42:48 PM |
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Yes, I welcome bitcoin to become a national currency. so it was convenient to come to the store and buy for bitcoin
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Biggapp
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March 22, 2018, 08:53:15 PM |
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While it is good news for Bitcoin users/hodlers that countries allow the use of Bitcoin as a means of transactions within their border, what will be your position if a country decides to take a step further by using Bitcoin as its national currency?
I 100% support for Bitcoin as a national currency because we are now in a new technology its time to go with the flow of new technology we all know that this kind of transaction is much better than before. CONVENIENT no HASSLE and Faster than the current uses of our currency. that's reality. That makes sense. Yes definitely when people are getting in a technical world where you can find every daily thing being converted in digital why you can’t see your currency in such form. We will be welcoming such step by the government if they become sensible and don’t remain dumb anymore. If this would happen, our country will be leading from the front in international market. |
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mrcash02
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March 22, 2018, 09:08:08 PM |
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No, Bitcoin is a worldwide currency and if a country adopts it as national currency, all the other countries can affect its economy by manipulating BTC price. And even if it's not manipulated all the FUD and regulations from another countries will affect BTC's price and consequently the country's economy that has Bitcoin as national currency, it's very dangerous and unstable for the citizens of that country.
If it's a minor country, like those islands and few principalities that almost no one knows, it might work as they have nothing to lose.
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Rooster101
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March 23, 2018, 02:14:01 AM |
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Not sure, they must show valid reasons first why bitcoin can become a national currency someday. Many would reason out that bitcoin is decentralized, tax-free, easy to transfer, no need for intermediary and others. But there are also some disadvantages on using bitcoin as national currency like its high volatility that cause it price to fluctuate rapidly, the price may rise and fall drastically and might cause confusion among the users and there is also a possibility of massive hacking. These and many other possible problems in the future have to be solve first before using bitcoin as a national currency.
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