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Author Topic: Bitcoin cannot be a global currency  (Read 4872 times)
huanzhong644306
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March 24, 2018, 02:28:21 PM
Merited by just_Alice (1)
 #1

Technology believers believe that bitcoin is the mission of decentralization, the future of the world currency.


BTC just need, relative scarcity and the manufacturing cost, nature has the price, the price is the fluctuation, as long as access to the securitization in the human history of human use of the most profound institutional invention, the currency is likely to generate huge profits.


You have a lot of money and you have followers. With followers there is a crowd. The masses will naturally divide.


With differentiation, there is naturally a blank majority. Naturally, there are evil men who have been swindled. Nature has its center and leadership.


This is the history of bitcoin's journey along the way, which is why the BTC creator went to the center to turn the government against the pursuit of liberalism.


But on a philosophical basis, technologists are wrong.


The beginning of human birth is said to be monkeys. No government, no center. No money, no inflation. Government is not the product of power, but the government itself is the product of liberalism.


Because freedom must be evil, freedom itself creates chaos, and chaos leads to the pursuit of order, thus freedom produces power and bad power transition to good power.


In the world of BTC, new centralization has begun:


Global mining is concentrated in the hands of a few. The maintenance and development of bitcoin is concentrated in the hands of few digital farmers. The influence of virtual currency is concentrated in the hands of a few big v.


They are the new army, the new bureaucracy, the new emperor. Are these people trustworthy?


The emergence of BTC is a technological advance in the history of human currency. It makes up for the deficiency of the existing monetary system and should also promote the reform of the existing monetary system.


Like insurrection, it is either extinguished or assimilated into the long river of history.
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Rupok
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March 24, 2018, 06:37:50 PM
 #2

Of course, Bitcoin can be a world currency. However, Bitcoin is not valid in all countries. But seeing the popularity of Bitcoin,it will be the world currency for a time.Only the bitcoin has been known in all the countries, which could not make any other coins.Everywhere they are Bitcoin,world Currency Will be.

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BillCoin
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March 24, 2018, 06:52:06 PM
 #3

I agree with you that bitcoin will probably will never be the main global currency, but it can replace the current internet payment systems, instead of paying with credit card over the internet that will also require you to reveal your credit card details, you can play anonymously with bitcoin.

Fiat defends citizens from them-self, if regular people will start using bitcoin on a daily basis, the chances of them to get scammed is pretty high considering all the scams that are running on the cryptocurrencies market.
Unregulated market is really dangerous for some people, and that's what fiat comes to defend.

reflector
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March 24, 2018, 07:35:27 PM
 #4

Of course, Bitcoin can be a world currency. However, Bitcoin is not valid in all countries. But seeing the popularity of Bitcoin,it will be the world currency for a time.Only the bitcoin has been known in all the countries, which could not make any other coins.Everywhere they are Bitcoin,world Currency Will be.

Bitcoin is decentralized money bro until it makes the bitcon as a legal money. You will find the bitcoin price to reach more than 50k USD in 2020. That time you will see the bitcoin has been adopted by the many countries dude.
So that you itself bitcoin is global currency. If you get into the Japan airport, even now itself you can access the bitcoin ATMs at there and can legally used.
BitHodler
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March 24, 2018, 08:45:03 PM
 #5

but it can replace the current internet payment systems, instead of paying with credit card over the internet that will also require you to reveal your credit card details, you can play anonymously with bitcoin.
I highly doubt that. People nowadays are too dependent on credit to sustain themselves, so the fiat related payment infrastructure will remain pretty much for ever and beyond, thanks to this shitty system.

Also, in order to spend Bitcoin, you have to buy it first, and let that buying happen through centralized services, which basically means that the anonymity you're referring to doesn't exist.

Mixing could be an option, but mixing services are still a niche in current days, and as long as that doesn't change, people will not be able to obtain even a remote form of anonymity. Blockchain = big brother is watching you.

BSV is not the real Bcash. Bcash is the real Bcash.
creeps
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March 24, 2018, 10:29:10 PM
 #6

Of course, Bitcoin can be a world currency. However, Bitcoin is not valid in all countries. But seeing the popularity of Bitcoin,it will be the world currency for a time.Only the bitcoin has been known in all the countries, which could not make any other coins.Everywhere they are Bitcoin,world Currency Will be.

Its possible of course since many people are now talking about cryptocurrency and they are planning to invest here so by this we can say that its already a global currency but it doesn't he will replace fiat money. If the regulations for this kind of technology are well organized I believe the price deserve to soar higher.
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March 24, 2018, 10:43:39 PM
 #7

bitcoin should be first currency in the world  Cool
ArdiPrabowo
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March 24, 2018, 11:19:31 PM
 #8

bitcoin only digitgal curency not golbal curency
in G20 meet, crypto curency include bitcoin, only digital asset not curency

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Tyrantt
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March 24, 2018, 11:29:04 PM
 #9

but it can replace the current internet payment systems, instead of paying with credit card over the internet that will also require you to reveal your credit card details, you can play anonymously with bitcoin.
I highly doubt that. People nowadays are too dependent on credit to sustain themselves, so the fiat related payment infrastructure will remain pretty much for ever and beyond, thanks to this shitty system.

Also, in order to spend Bitcoin, you have to buy it first, and let that buying happen through centralized services, which basically means that the anonymity you're referring to doesn't exist.

Mixing could be an option, but mixing services are still a niche in current days, and as long as that doesn't change, people will not be able to obtain even a remote form of anonymity. Blockchain = big brother is watching you.

    Credit cards and fiat money will never disappear, maybe will just change forms. Bitcoin has shown the world the potential of crypto-currency and blockchain but it just might as well remain an investment asset.
    That's why we see that, more and more, countries and various private  businesses are developing their own crypto. That's unleast how I see the future of "future" alt-coins. They'd be developed as a kind of "coupons" that you an cash in for various cost deductions or whatnot, therefore that coin will remain within the business.

Need some spare btc for a new PC that can at least run Adobe Dreamweaver.

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iqlimasyadiqa
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March 24, 2018, 11:58:32 PM
 #10

Of course, Bitcoin can be a world currency. However, Bitcoin is not valid in all countries. But seeing the popularity of Bitcoin,it will be the world currency for a time.Only the bitcoin has been known in all the countries, which could not make any other coins.Everywhere they are Bitcoin,world Currency Will be.

Its possible of course since many people are now talking about cryptocurrency and they are planning to invest here so by this we can say that its already a global currency but it doesn't he will replace fiat money. If the regulations for this kind of technology are well organized I believe the price deserve to soar higher.
Now Bitcoin and other digital currencies are more associated with an asset, some governments in the G20 also agree that digital currency is an asset and can not be a global currency. But we have to see the development later, when a technology is increasing then all sectors must follow it including in financial matters. Digital currency can be an alternative because it has some advantages that are about speed and ease in doing transactions wherever and whenever we want. This is a plus that may change with time. Everything can happen, If we want to apply Bitcoin so much more likely Bitcoin will become more known and could change the government's view of the digital currency at some time.

We will see the next few years, when everything goes smoothly then it is possible digital currency becomes an important part in the economic system in the world.
LuanX3
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March 24, 2018, 11:59:43 PM
 #11

but it can replace the current internet payment systems, instead of paying with credit card over the internet that will also require you to reveal your credit card details, you can play anonymously with bitcoin.
I highly doubt that. People nowadays are too dependent on credit to sustain themselves, so the fiat related payment infrastructure will remain pretty much for ever and beyond, thanks to this shitty system.

Also, in order to spend Bitcoin, you have to buy it first, and let that buying happen through centralized services, which basically means that the anonymity you're referring to doesn't exist.

Mixing could be an option, but mixing services are still a niche in current days, and as long as that doesn't change, people will not be able to obtain even a remote form of anonymity. Blockchain = big brother is watching you.

    Credit cards and fiat money will never disappear, maybe will just change forms. Bitcoin has shown the world the potential of crypto-currency and blockchain but it just might as well remain an investment asset.
    That's why we see that, more and more, countries and various private  businesses are developing their own crypto. That's unleast how I see the future of "future" alt-coins. They'd be developed as a kind of "coupons" that you an cash in for various cost deductions or whatnot, therefore that coin will remain within the business.

Never say never. Nothing lasts forever and that applies to credit cards and fiat money. There will be a chance that they will be replaced by a far more superior form of money. It may no be bitcoins or other cryptocurrencies but it is possible. As the world is transitioning to a more digital and electronic way, then fiat will not be as what it used to be.
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March 25, 2018, 01:07:44 AM
 #12

Bitcoin already is a world currency from the position that is used by people at almost every continent in the world. But because of the reasons that you have described it will never be mainstream currency or official currency in some country. But from my point of view that wasn't the goal and it shouldn't be the goal of bitcoin.
Also the fact that through internet connection bitcoin is available all over the world makes it global and gives opportunity to all nations in the world to use it and that is the beauty of bitcoin.

Unichange.me

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santafewarrior1980
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March 25, 2018, 04:04:41 AM
 #13

Bitcoin already is a world currency from the position that is used by people at almost every continent in the world. But because of the reasons that you have described it will never be mainstream currency or official currency in some country. But from my point of view that wasn't the goal and it shouldn't be the goal of bitcoin.
Also the fact that through internet connection bitcoin is available all over the world makes it global and gives opportunity to all nations in the world to use it and that is the beauty of bitcoin.

Yes, I believe many people aware that many countries now adapt bitcoin in their country as an alternate currency and many businesses in other countries in the world already accepted bitcoin as payment and this is a strong evidence that bitcoin can be a global currency.

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March 25, 2018, 04:57:57 AM
 #14

Bitcoin already is a world currency from the position that is used by people at almost every continent in the world.
This is misleading as I can see there isn't any fact backing it up. Haven't you read about countries criminalizing the Bitcoin and the government cracking down hard on people for using it? There are lots of countries where Bitcoin is declared illegal. And anything illegal is criminal. Let's not waste space here citing these countries.

Let's even paint a scenario where all countries of the world accept bitcoin, it still won't be a global currency. The British Pound Sterling is a popular currency, yet it isn't a global currency like the American Dollar. There are countries that don't recognize the Pound in spite of it being a leading currency. I foresee this same situation with Bitcoin.

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March 25, 2018, 05:38:19 AM
 #15

Of course, Bitcoin can be a world currency. However, Bitcoin is not valid in all countries. But seeing the popularity of Bitcoin,it will be the world currency for a time.Only the bitcoin has been known in all the countries, which could not make any other coins.Everywhere they are Bitcoin,world Currency Will be.
No matter how popular bitcoin may become, it will never be the world currency. Its an independent and decentralized coin. The government won't even let that happen because  every courts current is a symbolization of what the countries is and using bitcoin as the world currency will stripe away this value. But if it is bitcoin becoming popular; it will surely be and it will mostly be used online.
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March 25, 2018, 06:37:59 AM
 #16

The hesitation of the government to give bitcoin time to be competitive in the global currency arena is its decentralized feature. They are afraid of money they can’t control or they can’t profit. If this can be change or at least slightly favour them as a politician financially, a possible talks about global currency is near. This is impossible in nature and would the community will allow it. Who knows!
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March 25, 2018, 06:48:23 AM
 #17

It is not clear to me whether we are referring to bitcoin here as metamorphosing in fiat global currency - and this is impossible to happen.

Or, whether we are talking about bitcoin remaining as cryptocurrency and being a globally used cryptocurrency with any fiat currency.

In my view from second paragraph, bitcoin can only remain as cryptocurrency and won't become a globally used currency, replacing fiat. This is owing to the disadvantages. Topping the list of disadvantages is internet facilitation.

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March 25, 2018, 08:05:38 AM
 #18

IMO it is still 50/50.
if viewed from the positive side its bitcoin could be the world's currency for several reasons, that is.
first, Stabilize the market.
Bitcoin provides a temporary solution to market stabilization efforts.
second, Reducing inflation.
The high circulation of the currency makes the government powerless because it lowers people's purchasing power. As a result, the economy is stagnant, immobile and probably dead.
third, Reduce transaction costs.
Not everyone likes to transact through banks or connect with banks today. The fact that the banks are greedily withdrawing money from over-the-counter transaction fees makes the public feel embarrassed by illegal levies simply because banks want to increase their fee-based income.
fourth, can Restore public confidence.
By allowing Bitcoin as one currency to transact electronically, it means the government understands what is needed by the community, that is, an alternative solution when the standard solution stops.
there are again some negative reasons that bitcoin does not deserve to be a world currency, the reason being that is.
first, extreme bitcoin Volatility.
Using the US dollar as a benchmark, Bitcoin is 11 times more unstable.
second, difficult regulation.
Nothing makes the government body hot and nervous in addition to the popularity that involves money.
third, High security risk.
This fact became legitimate when the hackers managed to steal 119,756 Bitcoin in hongkong a few years ago.
so this is just a matter of time. will bitcoin be a global currency or not! I think no one knows about this problem yet.
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March 25, 2018, 08:15:45 AM
 #19

Well it depends. I think Bitcoin needs a little more to proof.
Bitcoin is likely a paper money. Again if Bitcoin can remove it's unstableness in value then it may be accepted to many countries. To be a global currency Bitcoin also need to accurately follow some principles.
Overall I think Bitcoin need to upgrade it's security, it availability, it exchanging process also need to be developed and many more.
If Bitcoin can't be a global currency then no other currency can be global.

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March 25, 2018, 08:29:46 AM
 #20

Linking today's technology with philosophy is like asking an atheist to believe in the existence of God just because the convincing party is theist. Bitcoin came into picture not exactly to make up for the deficiency in the current monetary system, but in order to make it highly secure and easily accessible although being based online. Who knows, we may even come up with better tech in the near future, marking a new era of easy payments but for now, lets just crown blockchain as the flagship here.
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