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just_Alice
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March 07, 2018, 08:03:41 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 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. |
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Make sure you back up your wallet regularly! Unlike a bank account, nobody can help you if you lose access to your BTC.
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Doge dealer
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March 07, 2018, 08:21:26 PM |
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Thats very unlikely due to the fact the bitcoins are still very volatile ,and still decentralized and pretty much uncontrollable at this point, and there lies the challenges in making it into a national currency,that's because any currency you choose to make your national currency must be fairly stable in price , it must be somewhat centralized ...if you cannot control your currency then you cannot plan because planning requires a certain amount of predicting how it will react and you also must be able to influence its upward or downward movements , and if you cant plan against it then it will become impossible to create fiscal and monetary policies , so if that should happen that would spell economic disaster at this point in bitcoins development.
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palle11
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March 07, 2018, 08:27:49 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?
Nice question. Seeking my opinion, I would prefer that bitcoin stays as a choice like it is at the moment but it should be recognized as legally accepted in the country. With such acceptance, the two different currencies would exist distinctly and this will grow the economy and there will be choice of payment |
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Carmen01
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March 07, 2018, 08:30:49 PM |
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No i don't support it but we can say that this can be international money like english language with no regulator because think if we have regulator about this digital currency all will become similar and if that happen what will be happen to some or different coins or tokens here in crypto of course they are all different like developers of it are different too but still it can happen because all are possible
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nick_nick
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March 07, 2018, 08:31:58 PM |
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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.
Very true. Since bitcoin is not a physical currency but digital it will be very difficult to use a national currency. I don't think all the people in the economy know about it. Again volatility in terms of price and security over transaction would be a major drawback |
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dzhan
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March 07, 2018, 08:32:22 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?
This is good for sure, and it will help to support Bitcoin and spread the word even more about it. But in fact it is impossible to happen in my opinion, because Bitcoin is a decentralized currency, and its price is very volatile, and also governments want to support mainly their fiat currencies controlled by them, and they are actually fighting Bitcoin and digital currencies. |
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Umkar
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March 07, 2018, 08:42:38 PM |
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I do not support the idea of using bitcoin as a national currency. If this happens, any economy will not last long and fall apart. It's all about the high volatility of bitcoin. When planning the country's economy, it is necessary to link to a certain rate of national money. If the rate of national money is constantly changing, the economy of the country will not last long. Bitcoin can only walk in parallel with national money.
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adriaymati58
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March 07, 2018, 09:04:42 PM |
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Yes. I think it is a good thing for bitcoin to become a national currency and I am sure this is the way it is heading in the next years
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The best is yet to come!
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Kahoy01
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March 07, 2018, 09:33:05 PM |
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It can't be used as a National currency due to its decentralized nature. if you might be pertaining to bitcoin being an international currency, You are right. The wonders of bitcoin are not only useful as an asset but it also can be used as the main currency of the world.However, people should come up first with a solution for bitcoin's high volatility rate in order for bitcoin to be usable in the currency industry.
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Victorycoin
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March 07, 2018, 09:36:08 PM |
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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.
As is, Bitcoin is the most valuable currency around and because of its intimidating attributes, it's a potential threat to the local currency of any country that settles to use it as a national currency. In the light of that, it's worthy of note that only countries with vibrant economies can be able to muster the strength and the wherewithals to give Bitcoin a nod, Japan is an instance. As for the developing countries, almost all of them are already neck deep in economic crises and bringing Bitcoin into the picture, can only exasperate their situations. |
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markint
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March 07, 2018, 09:37:10 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?
It is impossible for bitcoin to be considered by any consolidated nation as the national currency, because that would mean giving up sovereign decisions pertaining to the country's monetary policy to third parties, when that is the main function of the central banks of every State. However, I have heard that some of the so-called "micronations", most of them without official recognition from any country, have offered a supposed "virtual" nationality through bitcoin payment, which would constitute bitcoin as the de facto currency of those emerging nations. |
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macartem
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March 07, 2018, 09:40:30 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 do not even know, it will be very unexpected. Most people will feel very uncomfortable. |
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xWolfx
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March 07, 2018, 09:57:18 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 don't think that they are ready to do that. When it happens, it will happen because people decide it massively and starts using/accepting it for everyday transactions. Some time is required still until Bitcoin mining rate and people's mindset are suitable for something so big. At the moment a lot of people starts investing in the stock market with Bitcoin you will see that we will be really close on accomplishing that goal. But for now, those of us who want to help can run a Blockchain node and hold Bitcoins, buying as much as we can, Helping it raise. |
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anjaydut
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March 07, 2018, 10:39:39 PM |
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I do not think there will be governments in a country willing to replace their country's current legal currency with bitcoin.
it will be very inconvenient, besides bitcoin still not eligible to be made as the currency of daily payment.
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szpalata
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March 08, 2018, 01:16:44 PM |
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I do not think there will be governments in a country willing to replace their country's current legal currency with bitcoin.
it will be very inconvenient, besides bitcoin still not eligible to be made as the currency of daily payment.
No government indeed will accept that competition and so the earlier some of the posters on this forum forget about that illusion the better. Bitcoin was made to liberate all of us from financial freedom and not to be in competition with fiats all over the world or replace them so lets use it when we find the need and let fiats also serve their purpose. |
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gorodi
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March 09, 2018, 01:14:39 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 can hardly imagine what it means National Currency. Bitcoin is already a currency. To become a full-fledged currency it lacks the clear approval of its legal status. But some progress has been made in this direction. |
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AimHigh
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March 09, 2018, 01:18:46 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?
But the question is can the government allow bitcoin as a national money and if they don't have control in bitcoin. I don't rhink than can the allow bitcoin for that but as a user im agree because until now im using bitcoin one of my transaction like buying load, paying bill, shopping online and as a remittance and no hassles but the government they didn't see what is the purpose or easy to use the bitcoin |
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Xester
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March 09, 2018, 01:19:16 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?
It will not happen since bitcoin cannot be used by every person. Not all have knowledge using computers or smart phones. Others have never experience connecting to internet. Much worse is that there are still places in my country that has no supply of electricity. So your suggestion is next to impossible and countries would not accede to it. |
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cloudbleron18
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March 09, 2018, 01:24:27 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 will supported if thats our government approval because I am just only a simple person that followed what our government decission.If that happen then go,support them what they wanted to do for our own good and for the country.if it is good for everybody then why not? |
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Cacingkemi
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March 09, 2018, 01:26:11 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?
Yeah dude It would be very supportive if it happens,easier and does not take a long time in transacting by scanning the barcode in the product packaging.I want it to happen cause if I'm shopping then the seller does not bother having to return the money left over groceries. |
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