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Author Topic: Bitcoin could be use as unified currency for all fiat money around the world?  (Read 155 times)
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September 12, 2018, 03:09:28 PM
 #21

Ths is one of the goals of bitcoin, as to provide more broad and satisfying services and products to its client/customer. I believe that this is possible in the future.

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September 12, 2018, 04:28:45 PM
 #22

As we all know that bitcoin now are being made as a trading pairs to different fiat money all over the world. And we you go round the world having a good vacation on different countries you do not need to bring more fiat or physical money instead bringing gadgets and connecting to internet is enough to get fiat money after it will be traded to local exchange. In this way there is no need for one to bring more physical money as bitcoin could unify all fiat money around the world as trading pairs.
Bitcoin can be used like that if you like but bitcoin is nowhere close to be used like that for the majority of people, if you want to do that then it is way easier right now to use dollars, you can use a credit card that is denominated in dollars and then exchange those dollars for the local currency and have the same experience and it will be way easier to do that exchange due to the popularity of the US dollar.



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September 12, 2018, 04:38:37 PM
 #23

With a lot of countries going cashless bitcoin becoming a unified digital currency is definitely possible. It will be a lot easier and safer to carry than fiat money or even credit cards and debit cards. Hopefully, more and more establishments will start accepting cryptocurrency as payments as well in the near future.
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September 12, 2018, 04:57:40 PM
 #24

I believe bitcoin is the best currency for the world, we don't need permission from the banks to send our money and it can be sent with very little fees.  It will be much easier when everyone transacts in one currency instead of having to convert in between their government's currency.
Yes, I also believe that bitcoin can help as a tool for everyday needs, if I want to go to another country, I also really need it, but we also need the Bank as a medium of exchange, because without banks how would they exchange currencies, if in a country where people need paper money?

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September 12, 2018, 07:15:42 PM
 #25

Usually bitcoin is sold in USD or EURO, even locally when you exchange, firstly you get bitcoin exchanged in one of them, it depends on which currency has major impact on country's economy. Bitcoin -> USD/EURO -> Local currency. There is no need to bring physical money, have a card like Xapo or debit cards with good terms, can't see any idea in your proposal.
Oh, also if you only hold bitcoin, you don't know how will price change, so better to avoid any unwanted issues.

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September 12, 2018, 10:36:22 PM
 #26

States and their bodies will never use bitcoin or any other decentralized crypto currency as a single base currency around the world. There are so many reasons. This is a public form of mining bitcoin, which does not have a country of its creation (extraction), that is, for the functionality of bitcoin, in fact, no one answers. Bitcoin is not provided with anything and therefore has very high volatility in the price. It practically can not be controlled by the state. It has absolutely no binding to the economy of any state. For certain individuals or even groups of individuals, bitcoin will always be inaccessible for use for various reasons.

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September 13, 2018, 04:16:22 AM
 #27

Well it is true that Bitcoin can be use for spending anywhere in the world but it needs more improvement so that it could equal the US Dollar in which it can be use instantly around the world unlike Bitcoin that not all establishments are accepting it and the need for internet is vital on every transaction.

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September 13, 2018, 06:37:12 AM
 #28

Concerning the comments above, it is difficult to use Bitcoin as "unified currency for all fiat money around the world."
Let's say someone visited Russia. Unless there were a possibility of creating a Russian bank account or Bitcoin ATM, he would not be able to transfer Bitcoin to the local money. "Even if he uses localbitcoin, payment methods will be limited [except cash which is considered dangerous]."
After Bitcoin is legally accepted, things will change dramatically.

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September 13, 2018, 08:20:55 AM
 #29

Concerning the comments above, it is difficult to use Bitcoin as "unified currency for all fiat money around the world."
Let's say someone visited Russia. Unless there were a possibility of creating a Russian bank account or Bitcoin ATM, he would not be able to transfer Bitcoin to the local money. "Even if he uses localbitcoin, payment methods will be limited [except cash which is considered dangerous]."
After Bitcoin is legally accepted, things will change dramatically.

That's hilarious. And not that part about Bitcoin not being ready to be used as a "unified currency for all fiat money around the world", which is true but not hilarious, but the part about Russia and someone visiting it being unable to convert their bitcoins to local money, i.e. Russian rubles. There are literally hundreds of exchangers willing to convert your bitcoins, litecoins, or whatever to whatever else including a full spectrum of payment cards starting from Visa and MasterCard and ending with things like AdvCash cards and a whole host of cards issued by local payment systems (like Mir, Yandex.Money, and their likes)

And with these cards you will be able to cash out at any ATM (if you would actually need this)

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September 13, 2018, 11:51:33 AM
 #30

As we all know that bitcoin now are being made as a trading pairs to different fiat money all over the world. And we you go round the world having a good vacation on different countries you do not need to bring more fiat or physical money instead bringing gadgets and connecting to internet is enough to get fiat money after it will be traded to local exchange. In this way there is no need for one to bring more physical money as bitcoin could unify all fiat money around the world as trading pairs.
Unfortunately it can't be. I mean nothing can be but bitcoin definitely can't for sure. First of all lets take a look at why nothing can be global unified money ; because some countries are doing well and some are doing bad and even in euro zone German people hate Greek people because they lose the value of their money and Greek people hate Germans because they feel the economy is not proper because of outside stuff and Germans expect them to fix it.

Now, that we know even euro-zone is troublesome, global unified currency can't be done as you can see. Bitcoin is getting popular barely and when dollars and euros have been here forever and still failing, doubt bitcoin can do that.

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Kevin77
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September 17, 2018, 10:55:39 AM
 #31

Well it is true that Bitcoin can be use for spending anywhere in the world but it needs more improvement so that it could equal the US Dollar in which it can be use instantly around the world unlike Bitcoin that not all establishments are accepting it and the need for internet is vital on every transaction.
Well, it cannot be equal to USD in the logical sense because USD is fiat and centralized. Sure, the idea of seeing it being used all over the world and being a currency more preferred by a lot of citizens of each country could be possible, but we also have to understand that each government will still want to push their fiat and find a way to keep doing that even if it is on the blockchain to at least still make fiat stay relevant, so, i still cannot capture my head on the possibilities of it working out.

Ths is one of the goals of bitcoin, as to provide more broad and satisfying services and products to its client/customer. I believe that this is possible in the future.
Yeah, a time will come when bitcoin will be easily used for payment purposes, and then people will tend to realize how easy things are meant to be without anyone trying to be in control and in this case the government. As a unified currency even though it sounds cool to the ears, I am pretty sure it is something that the government may not really want to allow, but over time, as adoption keeps increasing, real life usage keeps increasing, who can tell?

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