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Author Topic: Do you support the Use of Bitcoin as a National Currency?  (Read 723 times)
iqbalrozi
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March 06, 2018, 03:54:04 AM
Merited by wnj4 (1)
 #21

Countries will never use Bitcoin as a national currency and even I don't want it. Bitcoin never can be a national currency, You have to understand that bitcoin is a digital currency and it is volatile. You never can expect bitcoin price. someday price will 40k USD and someday price can be down at 5k USD.
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March 06, 2018, 03:56:56 AM
 #22

National currency No, but as an International currency : yes.

Bitcoin as international currency is a great idea where in all nations around the world fully recognize bitcoin as a legal tender or currency. This way it is very easy to transfer from anywhere in the world wherein it has value and no need for some restrictions or whatsoever. I know this is far from reality as of now, but I am optimistic walys.

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franky1
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March 06, 2018, 04:01:34 AM
 #23

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.

its not a country..
its not even a civilisation

the liberland is just 7km2. it is not even big enough to have a substantial population or area big enough for living, working and growing its own produce to be self sufficient.

imagine something thats been round longer/has more population/land/cultiure and civilisation..
do you really think that native americans / amish have their own "country". even if they have their own land and try to suggest they dont follow the laws of america and and instead have their own laws/courts/punishment system they are still in america and not their own independent country separate from america.

there is alot more that land owners need to do than just design a flag and stick it in the ground while sipping a glass of champagne saying its their independence day.

..
anyway that said.. proper legit countries wont just take bitcoin on as their national currency. they cannot own/licence/control it like they do with fiat. .. at best they can do is allow people to use it as just another secondary means of payment much like its not illegal to let people swap a case of beers as payment for someone fixing their car or doing a bit of house DIY/plumbing

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Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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March 06, 2018, 04:07:05 AM
 #24

I don't think if country will accept to use bitcoin as a national currency. Bitcoin is decentralized very easy to affect the economy moreover the value is often fluctuation. But if the country will accept that risk i will fully support it.

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March 06, 2018, 04:08:49 AM
 #25

I am less supportive of it for now, because of the high bitcoin exchange rate and the unstable bitcoin price
other than that not many people are familiar with bitcoin
this need to be reviewed again Cheesy
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March 06, 2018, 04:10:43 AM
 #26

I support bitcoin because many people support bitcoin but have not yet approved bitcoin in our country but will also be getting the day to approve the bitcoin here in our country so other people will know more about bitcoin and importance its in person

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March 06, 2018, 04:32:45 AM
 #27

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?

If this is really implemented by the government into the state financial management system it is very possible that the economic change of the nation that leads to for progress will be realized as hoped by the government I certainly will fully support it because only bitcoin which can change the populist economy and the state fairly and equitably.

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March 06, 2018, 04:52:01 AM
 #28

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?

Thats the most stupid thing that a government can do. I love my countries history which are forge and written in our currency. Bitcoin doesnt have a slightest chance to be a national currency because law makers and majority of the people wont allow it. Instead adopt the technology and further improve the monetary system of a country.
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March 06, 2018, 05:08:52 AM
 #29

In my case, I don't want bitcoin to be the national currency as of now. Because a lot of people here in my country does not have any knowledge on how to use cryptocurrency and it is hard to make it as the means of exchange if not everyone knows it well. Maybe, it will be good if almost all people are aware of using bitcoin.

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March 06, 2018, 05:25:21 AM
 #30

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 now and some time to come, it is impossible for my government to allow the use of bitcoin as a means of payment. If for some reason they allow it, I certainly would not simply agree to it. The bitcoin price is very volatile and that is why it will face a lot of problem if bitcoin will be used as a means of payment for every stuffs out there.

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March 06, 2018, 05:28:34 AM
 #31

If Bitcoin is used as a national currency, then I am not the same. There are so many people in the bitcoin that they have no idea. With the nationalization, the government of that country will have to vet. For him many poor people will wear many problems.
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March 06, 2018, 05:32:09 AM
 #32

That would be even better. If we have national currency, we won't worry about going to other countries and changing the money we have. Moreover, we won't be worrying about inflation anymore. On the other hand, we will be worried regarding the unstability of value. So, bitcoin has its pros and cons.

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March 06, 2018, 05:34:41 AM
 #33

It wont happened, there are too many risks to used bitcoin as national currency, if the currency couldn't be controlled it will be very dangerous for all the citizens, and there is a chance that the country could be controlled by bunch of whales, so I don't see any good outcome will come out if btc become the national currency
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March 06, 2018, 05:37:30 AM
 #34

I say it will be verry happy! but in facts it will never happen. Although accepted by the goverment as a tool of transactions but the goverment will never make bitcoin as nationally currency. You know what? every country has its own currency, and this will be a consideration for the government if they use bitcoin, because they fear the original currency will be lost and replaced. I think it would be something bad for a country.
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March 06, 2018, 05:44:34 AM
 #35

How can i support.. if indeed the country hasn't been seen at all to respond on bitcoin intended as a national currency, and anyway i think of course due bitcoin is the currency that's in the cyberspace only.. it's not yet right to be used as a national currency. The price is very fluctuating from time to time that's easily influenced by many things.. i think it's not yet feasible to be used as national currency.
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March 06, 2018, 05:57:44 AM
 #36

I strongly support if bitcoin serve as national currency because by applying bitcoin as national currency then everything will follow modern era.
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March 06, 2018, 06:01:33 AM
 #37

Not as a national currency, as having such a volatile currency would be incredibly risky, and it is not accessible to everyone, but yes as an alternative currency (one that is legally accepted in the country).
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March 06, 2018, 06:05:52 AM
 #38

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?

Does a country have anything to lose by not having its own national currency? Yes - It loses out on seigniorage - the profit between the cost of printing notes and the value of the notes. It also loses out on flexibility to conduct its own monetary policy. You may argue that some countries have adopted the dollar as their official currency - but this is only because the people and markets have lost faith in their national currency.


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March 06, 2018, 06:15:12 AM
 #39

Better not to support it as a national currency because if we do so, government will handle this. And they will collect some taxes on it and then corrupt. I love bitcoin for being decentralize and anonymous.
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March 06, 2018, 06:16:42 AM
 #40

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 government does not use bitcoin as the main transaction tool in the country. In this case, the government needs a stable currency like the dollar. Because bitcoin volatility is so high that it is a bit difficult to make the national currency.
Perhaps, if made as an alternative currency could happen as in Japan, or the US.
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