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Author Topic: Do you support the Use of Bitcoin as a National Currency?  (Read 721 times)
StarKay
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March 06, 2018, 03:07:00 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?
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franky1
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March 06, 2018, 03:11:30 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

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March 06, 2018, 03:12:10 AM
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I'm really not 100% on my decision on this. Even though it's quite unlikely, if a certain country does use bitcoin as it's official currency, then there will most likely be a lot of tracking/surveillance. Governments collects taxes, so one of the easy ways of them to track your earnings/spendings is for them to sort of designate a certain amount of wallet addresses to you for better tracking/traceability. Something like that.

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March 06, 2018, 03:13:12 AM
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The growth of bitcoin depends on mass adoption..I would be the most happiest man if bitcoin gets to the level where countries use it as their main currency..The value will grow like never before.
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March 06, 2018, 03:16:11 AM
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I do not support it, because the price of bitcoin is not stable. If your money changes drastically in a day, I think many people will not accept it.
StarKay
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March 06, 2018, 03:17:07 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
The Free Republic of Liberland already uses Bitcoin as its national currency, though it is a small country.
What happens when bigger countries like USA follows suit.
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March 06, 2018, 03:18:50 AM
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For me, i will not the use of bitcoin as a national currency. Because it will be too unfair for ordinary and poor people who don't know about bitcoin. What if they don't know how to use gadgets and internet? How will they use bitcoin?

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lvincent
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March 06, 2018, 03:23:02 AM
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I don't think bitcoin will be a national currency, bitcoin is decentralized with just that reason you can tell that government will not gonna adopt bitcoin as national currency and their are a lot more reason like bitcoins price is volatile, another thing is security and etc. How can you even make bitcoin a national currency it is a digital currency it's not tangible so i'm sure that it will not be a national currency although i support anything that is good for bitcoin and cryptocurrency.

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March 06, 2018, 03:23:52 AM
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Why not? If this move will make payment more easier in every sector of government, restaurant, hotel or buying all the thing that we need. I will support it all the way.

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StarKay
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March 06, 2018, 03:25:24 AM
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For me, i will not the use of bitcoin as a national currency. Because it will be too unfair for ordinary and poor people who don't know about bitcoin. What if they don't know how to use gadgets and internet? How will they use bitcoin?
That's why there is education, you teach them how to use those gadgets and the internet.
If you don't support the use of Bitcoin for that purpose, what is your vision for Bitcoin?
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March 06, 2018, 03:25:45 AM
 #11

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?
very very bangus, I would tip if our country make bitcoin as national currency
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March 06, 2018, 03:28:24 AM
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I will not support it. Because not all of us know bitcoin. And i don't think it can be a national currency because the value of bitcoin is too volatile. What if you hold many bitcoin then suddenly the price drop. What will you do?

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March 06, 2018, 03:29:50 AM
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I think bitcoin must be layer on national currency, because price of btc while dont predictable

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March 06, 2018, 03:31:28 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?

Behind Bitcoin is the enormous value of blockchain, and even the impact of blockchain on existing economic models is disruptive. So I support bitcoin as a national currency.
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March 06, 2018, 03:36:13 AM
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The growth of bitcoin depends on mass adoption..I would be the most happiest man if bitcoin gets to the level where countries use it as their main currency..The value will grow like never before.
I see that many people do not understand the consequences of this step. Bitcoin can not be recognized as a national currency, on the basis of which the country's economy will be planned. If this happens, any economy will not survive the big volatility of bitcoins and fall apart. There are other serious consequences of this stupid step. I hope that in my country they will not think of this. Bitcoin, like all crypto currency, can and should go in parallel with national money, then the economy of the country will be all right. In order to be recognized as a national currency, first of all, it is necessary to remove its high volatility.

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kumarrajuiitd
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March 06, 2018, 03:38:20 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?
The answer can not be directly yes or no as it is big decision as for developing country there are different situations which a government has to face no doubt its technology is supported by me for national currency as every government wants its complete authority on financial system for tax collection, revenue generation, welfare programs. So its difficult for bitcoin to be a national currency but transaction based on bitcoin should be accepted by the government.
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March 06, 2018, 03:39:51 AM
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i want to say that it won't happen like franky above but i have seen countries do a lot of weird stuff in the past regarding bitcoin so it is not completely unlikely. it is a dumb move though! first they won't be able to control anything about bitcoin, not its supply, not its flow and not its usage,... second the price may not become stable for a very long time and that is not a good thing for a country economically.

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March 06, 2018, 03:41:03 AM
 #18

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?
This i a big news to all crypto holders and users because they already accept it in majority of the countries. The biggest advantage of this news to all is the lower transaction fee because it is alredy legl.
For me it is a big deal to all because they are agree about the usage of bitcoin and how bitcoin helps ll country to increase the economic status of each one of them.
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March 06, 2018, 03:46:46 AM
 #19

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?

For me its not a good idea,
first because of its value are not stable
second what if people dont have internet and gadgets how they can use it if they use bitcoin as a national currency?

And i think government will not do that because economy will change and its a big work for them if they change the currency of all countries.
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March 06, 2018, 03:51:05 AM
 #20

I strongly support if a country makes bitcoin as their currency .. But people should be able to master bitcoin .. Because not everyone knows bitcoin and many who can not use bitcoin.

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