Why bitcoin can not become a global currency

[djefes]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

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[TravelMug]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

What do you mean that every wallet must contain ids? I can have multiple addresses using Electrum and no one can track that it belongs to me.

Maybe want you are describing a a full KYC enforcement for most exchanges of today. Trackable or not, bitcoin will remain dominant. Can you name altcoins that can challenge bitcoin as a global if you think it's not going to be mass adopted?

[ChrisPop]

Money laundering can be easily done with fiat currencies as well. For example you can make f2f transactions with cash with a vendor instead of recording the transaction in a ledger. Money laundering and tax evasion will probably exist forever. You can't put KYC or a restrict a bitcoin wallet. It is against for what it has been created - the freedom of the user against government and central entities' control.

Of course that for companies, it is imperative to create a framework for accounting purposes. Like designate a number of companies' public bitcoin addresses and the private ones will be kept simply confidential and perhaps changed from time to time. Bitcoin can certainly become a global currency, it just needs adoption which will surely come over time IMO.

[djefes]

I mean every wallet must be personal and has identification like passport. This could be only way to track the bitcoins and prevent crimes.

I agree that it will be dominant as long as it is untraceable. Because, most people use bitcoin to send money without being tracked or pay things without tax. Paying bank for transaction commissions can not be the case that why bitcoin is valuable. I do think that bitcoin is a mind blowing development for the world but it is also very dangerous. It must be traceable or every country will ban it because of these reasons eventually.

[NeuroticFish]

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering.

Bitcoin is pseudo-anonymous. This means that anyone can look and see the content of a wallet and if you are not super careful people will also know it's your wallet.
I don't know of any other currency that allows unknown people know how much money you have in your wallet or in your house. It would be thieves' heaven! Not even US Dollar allows that.

And while everybody is already concerned about losing privacy in current society (websites tracking you, cameras tracking you, ...) you say that the only currency for the future will show everything to anybody?

I think that you are awfully wrong.
I think that the future has to help people regain their privacy.
I think that the agencies should start to do more effort and more thinking also and find better methods to fight money laundering and terrorism. The money flow cannot be monitored. The ones who want to avoid monitoring, will always avoid it. There's gold, art and a lot of other means to hide funds, all showing that the current approach is incorrect.

[Kyraishi]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

I think you are extremely wrong here.

We can make the same argument here with fiat currency. Look at cash, it's a tool that can avoid tax extremely easily, and it doesn't have tracking or anything.

We are moving to a society where being anonymous and safe is quickly become a top priority for people, and Bitcoin offers this tool to others and there proof of this with how big it's gotten these past years

[djefes]

I agree that It is against for what it has been created - the freedom of the user against government and central entities' control. That is why basically goverments will ban it eventually but how is the real question. How can you ban bitcoin? You can declare that buying bitcoin is crime but can you prevent people to buy bitcoin?

I also agree with you NeuroticFish. Tracking the wallets will show how much money a person has. It is much more dangerous than money laundering. But consider this, We have bank accounts and they have adresses like bitcoin. Individual address and belongs to one person. They are not traceable. A bitcoin address provided by authorities and traced by authorities only. There should not be a blockchain explorer for it. I believe that this will be the implementation of the cryptocurrency. How could this be is a question for another decade maybe?

[supto005]

yeah, I agree with you. But you know that the Bitcoin price isn't stable. I don't think so that the government will able to create any system that can track bitcoin transactions. This is the main feature of Bitcoin that no one can trace Bitcoin transactions. That's why the government has announced bitcoin as an illegal digital currency.

[odolvlobo]

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

The ability to be used for money laundering won't prevent its use as a global currency because only governments care if money can be used for money laundering, and Bitcoin exists outside of the control of any government.

[oleg681010]

Why not?? Bitcoin can become a global cryptocurrency, this is prevented only by banking systems

[franky1]

privacy/transparency debate has nothing to do with the utility of bitcoin as a currency globally
bitcoin already has all it needs for privacy/transparency.
bitcoin does not link ID to btc address for privacy
if people want to link ID to transactions they can use exchanges that offer that transparent reporting system

also in the widest sense possible. bitcoin is on internet which is worldwide so bitcoin is already global
its not like canadian time tokens thats only distributed in a small town in canada.

but to get to the crux of the whole 'global' currency debate. the issue is after 10 years bitcoin has not exceeded 600,000 transactions a day. this is not due to not enough adoption. but due to development putting a crippling limit on the utility by limiting how many transactions can flow through.

i know i will probably hear the promoters try using this fact as a way to PR campaign their altnetwork that uses millisats(not real BTC) as their pegged token that is used by locking up real btc so that people can use their altnetwork to do things fast and without all the security and purposes that the btc real blockchain offers.. but thats just gimmicky drama to say btc cant do x or y. again not due to technical issues but due to developer decision to force limiting real btc growth/utility.

in short the 600k tx limit a day is the biggest holdback of actual global common utility

[CryptoBry]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

Tracking every Bitcoin maybe impossible, for now. Tracking can even be invading the privacy of those who are doing Bitcoin-based transactions. There are effective ways that can minimize the incidence of money laundering like cryptocurrency exchanges requiring their users to do the KYC requirement. And even if all people will be doing the KYC there is no guarantee that Bitcoin can be a global currency so why waste time and effort? There are other factors why Bitcoin is not yet a global currency and we should not be in a hurry actually...there is no deadline set for Bitcoin, right?

[smyslov]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

How can that be possible when you can create an unlimited wallet, Bitcoin was created to be decentralized and to create as many wallets as you want, who will manage to give us ID and how can we monitor each ID, we cannot apply something that we have in a centralized system to a decentralized system, it will be to much work to much time and so many funds just to implement this.

[darthmaul]

No bitcoin can not become a global currency the governments around the world would never agree to it. For there to be one currency there must be unity all around like the European Union but there is no such thing in case of whole word and nor it is possible in future to have one world without countries.

[fakefrombot]

Ofcourse bitcoin will not become a global currency since its totally unusable bubble. Bitcoin was created as payment system based on blockchain and nothing more. People will use USD as global currency why they should change it on bitcoin? Only criminals using bitcoin as global payment currency since its not monitored by governments.

[imstillthebest]

No bitcoin can not become a global currency the governments around the world would never agree to it.

if all of the governments never agree with it then why do you think bitcoin is still acceptable on most countries these days ? thats only a reason that most of them will agree to use bitcoin but some that bans bitcoin dont agree that bitcoin can become a global currency  .

why bitcoin can not become a global currency ? because bitcoin is still not yet accepted globally  .  soon if other countries accept btc , i think its possible fo btc to become a global currency

[djefes]

It is not possible for bitcoin to be implemented. An altcoin can be created to follow the procedures but it seems it is too late for bitcoin I believe. We are fanatics of bitcoin but we should always consider that bitcoin is not invincible. https://hackernoon.com/bitcoins-biggest-hack-in-history-184-4-ded46310d4ef

If people want to kill bitcoin, it can be figured out eventually. Bitcoin is not the revolution here. It is the idea that come so far. Cryptocurrency is a revolution and it will bring many new features for banking and payment systems. But, bitcoin will not be able to secure it's place.

[Distraction]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

You talk about that Bitcoin can always be used for money laundering. But there is a point that you should know. Money laundering is not just possible with Bitcoin. It also can be done by fiat money too. So, I don't agree with you about the reason could be this.

[Eugenar]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

basically, bitcoin has the possibility to become a global currency, but right now, if we wanted an identity in bitcoin transaction, we will take away the essence of bitcoin being a decentralized crypto. Why can't we use bitcoin for transaction using applications that can distinguish user? In such a case that we can still verify the person but not directly changing the bitcoin blockchain structure.

[MicroGuy]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

Since Bitcoin is now primarily controlled by banks, I think it's going to stick around for a while.

However, over the long term, it is certainly not sustainable with its current PoW consensus model.

[The Cryptovator]

Your description is wrong. It's the not reason why bitcoin still not turn into global money. The main reason is all bankers are against bitcoin due to decentralized system. You can trace bitcoin if you know address won by who. Money laundering doesn't matter in my opinion. You know why? Most of money laundering, crime happening by real money, not by bitcoin. But the only matter is decentralized system, there is not controller that would control bitcoin. If you won bitcoin that means you are the owner of it. No organization there to control your bitcoin. That's why bitcoin still not yet turn onto global money.

[Youghoor]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

You should understand that money laundering can not be the reason why Bitcoin can't become a global currency. Money laundering existed way back before bitcoin was even conceived.
The main reason stopping Bitcoin from becoming a global currency is the low level of adoption, inadequate knowledge, and understanding of how bitcoin works and lack of resources to promote easier use and access to bitcoin.
Money laundering has nothing to do with the low adoption rate of Bitcoin by the general public and can't be the reason why bitcoin can't be a global currency.

[lionheart78]

No bitcoin can not become a global currency the governments around the world would never agree to it. For there to be one currency there must be unity all around like the European Union but there is no such thing in case of whole word and nor it is possible in future to have one world without countries.

Have you read franky1 reply?  Bitcoin being on the internet automatically make it a global currency, the only problem that lies is the question, will government acknowledge it?  Well, some did some did not and majority are on stand by waiting for development country to deal with cryptocurrency and will follow their lead.

I think being global currency does not  mean dominating the world and be the only currency used by all.  See USD, it is a global currency and yet there are still many other currency existing in the world.

The main reason is all bankers are against bitcoin due to decentralized system.  

Not all bankers are against Bitcoin, look at Japan, since the government are into cryptocurrency, banks in Japan welcome it with open arms, Some of the banks here in the Philippines are crypto friendly too.

[gandame]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

I think no need for tracking in bitcoin wallet much better for our wallet are only as can know and no need ids for our safe also. Theres a lot of hacker much better to keep secret your personal information so that they don't know who you are.

[Zeke_23]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

You should understand that money laundering can not be the reason why Bitcoin can't become a global currency. Money laundering existed way back before bitcoin was even conceived.
The main reason stopping Bitcoin from becoming a global currency is the low level of adoption, inadequate knowledge, and understanding of how bitcoin works and lack of resources to promote easier use and access to bitcoin.
Money laundering has nothing to do with the low adoption rate of Bitcoin by the general public and can't be the reason why bitcoin can't be a global currency.

I agree,Illegal activities such as money laundering has nothing to do with bitcoin. Bitcoin was just being used the same way how fiat currency is being used in such a thing.
Lack of knowedge and being uncautious in such things are the reason why they cant accept bitcoin.

Having an identity for every wallet will just bypass the true purpose of bitcoin/crypto which is giving us anonymity to do any transactions.

[Shasha80]

Many side blame bitcoin about the problem of money laundering, even though money laundering was there before bitcoin was created.
There are still many ways to deal with money laundering, no need to track all cryptocurrency wallet. that's is silly act. the question
why bitcoin cannot become a global currency, the answer is simple because bitcoin is decentralized and nobody can control bitcoin.
Because of that many banks  and governments can not accepting bitcoin as a global currency.

[Mandoy]

I think you are talking about KYC/AMLC documents per bitcoin users. Actually there are movement that requires all bitcoin transactions to include sending of person KYC in that transactions. I forgot what agency is that set the guidelines. If I remember well I have read it yesterday and many companies are already lining up to bring solution to make transactions sent together with KYC. But let us get to the point that removing privacy and increasing security will increase the number of bitcoin users. Syndicates will not use authorized exchanges when sending bitcoins they will just use qt wallets or electrum wallets to send bitcoins to the other party without having to comply with the KYC. Removing the privacy to bitcoins to make it  a global currency is not the real solution, the real solution is the adoption and legalization of bitcoin in the global arena.

[Astvile]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

Tracking wallet transactions from a scammers wallet is just a piece of cake. Some people can easily track someones transaction, as long as you have the main suspects wallet address it would be so easy.
Money laundering incidents happens more on fiat currencies day by day money laundering transaction happens even more than the bitcoin money laundering count in each day.

[teosanru]

I think anonymity is a quality of bitcoin and Cryptocurrencies which is the reason why they are so popular however complete anonymity is more or less a myth because we already have kyc for a lot of things. However attaching a unique id for every address would definitely kill the very main quality of bitcoin. It would hamper it's growth in long term and yes money laundering through btc will also stop. Moreover such an id would mean that there will be a central authority keeping record of such thing and therefore it would more or less kill bitcoin.

[ILuckyGuyI]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

I think the main reason is not related to money laundering. Because it can done with any currency digital or not. In my opinion, the main reason can be Bitcoin's volatile and decentralized structure.

[hatshepsut93]

Bitcoin has been a global currency since it was released, you could always send and receive it regardless of where are you from. Your proposal of tying Bitcoin wallets to id would never come to reality, Bitcoin was created to be not like banks with their KYC and middlemen, and yet you want to turn Bitcoin into a payment company that is not different from them - Bitcoin community will never accept it.

[CasinoAdrenaline.com]

Wasn't the Bitcoin at first place created to be anonymous and untraceable? It can become global currency without needing to expose anyone's identity. Furthermore, it is already somehow global currency and it's expanding. And yes, money laundering can be easily done with fiat currencies as well. 

[nreal]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

I disagree with your point of view, money laundering is not the reason why bitcoin cannot become a global currency, simply because people can still launder money with dollars, pounds sterling and other currencies. other currencies, and they are still used in international payments.
The biggest cause lies in the core characteristics of bitcoin that is decentralized, the current world cannot accept a currency that cannot be controlled like bitcoin.

[yazher]

If they can track your BTC funds thats no longer called bitcoin, it's called dollars in a digital currency coat. Everything is decentralized about bitcoin the only things that matter are when you put your BTC on some centralized exchanges. If it is huge money, then you will need to make an excuse about it or you need to provide a reason which is hard to find if you want to tell a lie. The good thing about bitcoin id, you can put it on hard wallets like trezor where you don't need to worry about being asked by the bank or the exchange's representatives. you can hold it there as long as you want without someone to know how much huge you got there.

[kryptqnick]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

Hi. There is already a tracking system for Bitcoin, and it's called 'blockchain'. Some argue, that because of this Bitcoin can actually better for fighting money laundering than fiat because fiat can go without traces (cash), whereas Bitcoin cannot. As for money laundering in general, all types of money can be used for it, so we should not blame Bitcoin for it. Moreover, it's debatable whether Bitcoin is even used for financial crimes more often than fiat. If you are talking about IDs as in government IDs, then you'll find a lot of people being rightfully against it, because such a system could be easily abused and violated privacy even more than it's violated these days.

[ReiMomo]

~snip~

Hi. There is already a tracking system for Bitcoin, and it's called 'blockchain'. Some argue, that because of this Bitcoin can actually better for fighting money laundering than fiat because fiat can go without traces (cash), whereas Bitcoin cannot. As for money laundering in general, all types of money can be used for it, so we should not blame Bitcoin for it. Moreover, it's debatable whether Bitcoin is even used for financial crimes more often than fiat. If you are talking about IDs as in government IDs, then you'll find a lot of people being rightfully against it, because such a system could be easily abused and violated privacy even more than it's violated these days.

This is very well said to me, and that is a good perception. In addition, Bitcoin cannot be a global currency for its nature. It is just accessible through the internet. It is a digital currency where you cannot have any tangible thing. It cannot reach through places that are out of civilization, I mean those places that didn't have internet connections/services. Some also said this is the currency used for illegal transactions so this will not be a possible global currency.

[thesmallgod]

neither bitcoin nor altcoin will be a global currency. We all know this has become the lies those project dev cook up to make a whitepaper. Even though there has been an increased rate at which people are using the underlying technology which is the blockchain while trading of crypto has been affected by volatility. The global rise against crypto by so many countries by banning the use and trying to regulate it is another indication that crypto will not become a global currency.

[mdzahed134]

Why not?? Bitcoin can become a global cryptocurrency, this is prevented only by banking systems

How it’s possible if the government is against with Bitcoin? I think btc wil never global currency for those some reasons. You know money laundering is happen by using Bitcoin it’s one of the main factor. Even without legalization there are no way to btc will become global currency. Banking system is highly affected by btc another reason claimed from central banks. Also government thinking BTC is the big opponent in the bank and economy.                      

[kooboat]

In the very near future, bitcoin would widely be used for various transactions. People who involve in money laundry would always find means to go about their nefarious activity. Money laundry has always been with almost every economy in the world but most people  assume that bitcoin can easily used since it's mode of transaction is very anonymous.

[bobdk]

A lot of stuff that OP is advocating for sounds completely antithetical to the whole spirit of Bitcoin. I'm sorry, but this simply doesn't make any sense.

[chaoscoinz]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

 I think Bitcoin and the Blockchain are the archetype in which a global cryptocurrency may spring from. A few years ago it was just Bitcoin, Litecoin and a few others. Now we have Ethereum, Neo, Eos etc. All of these projects came about from the work and brainstorming of ideas inspired by Blockchain and Bitcoin. In the future, who is to say what new coin or token may arise to be the world currency, it might not even be a coin or token?   Only time will tell, I hope that what ever it is, it's digital!

[vintages]

Any altcoin that will emerge with these features you mentioned will only be used for wealth accumulation during ICO and not for a long time usage not to talk of currency.
Bitcoin signify decentralisation and that's what drew people to it and is still drawing.
Money laundering has always been there since the history of cash flow, so it didn't start from Bitcoin and won't stop with it.
Moreover, so you should know, every Bitcoin transactions is not hidden but explicit.

[Darooghe]

Bitcoin will never be a widely used currency for one reason, you would rarely buy goods and services with something you think is going to go up in value. This is basic economics and the major crux of a deflationary currency. but I’m not too concerned about BTC becoming a world currency. It’s a new type of bankless credit card but it is still only valuable when it exchanges for fiat. At the end of the day you are spending electricity to hash a code and you can’t force the rest of the world’s population to take your code and give you food and gasoline if they don’t want to.

Also, guess what happens when people feel excluded or controlled by a system. they break out and create a new one. Just the same way you are challenging the banks and stock market built over the last hundred years. your kids will ignore your bitcoin wealth and create some other stupid new fad to evade your outdated system.

[Lauren Smith]

People always go on about money laundry. Do they actually ever really know what they are talking about? I dont think criminals launder using bitcoin very often. Even if you use bitcoin you still have to somehow make dirty money suddenly vanish and then explain that. After you launder the money and eant to convert it you still need a bank account and you will be asked a few questions moving that kind of money around.

[radjie]

Any altcoin that will emerge with these features you mentioned will only be used for wealth accumulation during ICO and not for a long time usage not to talk of currency.
Bitcoin signify decentralisation and that's what drew people to it and is still drawing.
Money laundering has always been there since the history of cash flow, so it didn't start from Bitcoin and won't stop with it.
Moreover, so you should know, every Bitcoin transactions is not hidden but explicit.

yes, money laundering has always existed and certainly not started with bitcoin. every person who does a transaction using bitcoin certainly has a public record or called a blockchain, so there is no reason if a bitcoin user does not have a transaction ID that can be tracked

[Kyraishi]

Bitcoin will never be a widely used currency for one reason, you would rarely buy goods and services with something you think is going to go up in value. This is basic economics and the major crux of a deflationary currency. but I’m not too concerned about BTC becoming a world currency. It’s a new type of bankless credit card but it is still only valuable when it exchanges for fiat. At the end of the day you are spending electricity to hash a code and you can’t force the rest of the world’s population to take your code and give you food and gasoline if they don’t want to.

Also, guess what happens when people feel excluded or controlled by a system. they break out and create a new one. Just the same way you are challenging the banks and stock market built over the last hundred years. your kids will ignore your bitcoin wealth and create some other stupid new fad to evade your outdated system.

This is a different mindset to have - your looking at Bitcoin as an investment option only, expecting it to only be used to profit off the markets.

Bitcoin we never meant to just be an investment option, it was also meant to be used by people for everyday transactions.

People always go on about money laundry. Do they actually ever really know what they are talking about? I dont think criminals launder using bitcoin very often. Even if you use bitcoin you still have to somehow make dirty money suddenly vanish and then explain that. After you launder the money and eant to convert it you still need a bank account and you will be asked a few questions moving that kind of money around.

No, they don't usually use crypto-currencies to money launder. There are lots of other ways, and probably easier ways to do those things, crypto-currencies are being used as a scape goat here.

[Upgate]

There is always a side effect do not except bitcoin to be without blemish, the global currency that is traceable there still tales of money laundering, theft and so much more financial crimes.

[jarhed]

There is always a side effect do not except bitcoin to be without blemish, the global currency that is traceable there still tales of money laundering, theft and so much more financial crimes.

You are right my friend! All the negative things that are said about Bitcoin should be calculated as an artificial price reduction in fact or in the future. Bitcoin is in any case better than even fiat money from the government.

[Reatim]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

Lol what I understand is IDK and not IDS 😂,anyway what does it mean?sorry for being innocent..

But if your concern is LAUNDERING i think it has been settled because KYC implementations preventing this laundering to be abused

Like me I need to prepare proper documentation’s before I can cash out my money in any remittances or banks,that’s what you want to be implemented right?but it’s already in progress and now sending money is not that easy thru cryptocurrency specially Bitcoin

[NeuroticFish]

A bitcoin address provided by authorities and traced by authorities only. There should not be a blockchain explorer for it. I believe that this will be the implementation of the cryptocurrency. How could this be is a question for another decade maybe?

This can be (a bad) replacement for fiat. Something centralized and handled by the authorities and central banks. It will be almost no different from how fiat is now handled by the banks.
But it's bad version of fiat: fiat as paper money is still anonymous and untraceable. If replaced by this proposal it'll be a big step in the wrong direction.

And Bitcoin is meant to be something else: a currency NOT controlled by the authorities. And this is part of its success. And your proposal negates all that. So no. Really no.

[blckhawk]

This is the problem with the current system. There must be sacrifices. If you want privacy, then money laundering cannot be solved. If you want insurance when something happens to your wallet, then you must sacrifice your KYC information. As of now, some exchanges and platform crypto-related require KYC. The question is if they provide insurance if something happened. If we provide identification for each addresses, we need to have a regulatory board so that these platforms conform to the standards in terms of privacy, security and insurance policies.

[xiboothrezi]

Bitcoin is bitcoin, with a decentralized system, independent, not controlled by any association or government. Although it does not become a global currency, bitcoin goes beyond that with all the ease of access to transactions from one country to another, from one place to another, without space and time restrictions. Although in some countries it is prohibited and restricted to use, bitcoin can still make new records that were unexpected before.
Even if someday there is altcoin that is recognized globally, of course it is a good progress, meaning that cryptocurrency is truly recognized and benefits can be felt by anyone for more complex activities. And bitcoin will still exist with its own strong ecosystem niche.

[djefes]

The main problem will be taxes I guess. It is very easy to avoid taxes by using bitcoin

[cryptoangel]

The main problem will be taxes I guess. It is very easy to avoid taxes by using bitcoin

Taxes is not a big issues, because first all the countries are accepting the Bitcoin and they analyse the further process of globalization. Normally every countries have different set of regulation is follow the Bitcoin so it will possible in future but it takes some time.
I hope 2025 it will possible because many countries are slowly understand the Bitcoin potential and security so it takes 5 to 10 years on entire world.

[airdnasxela]

Even with or without anonymity, bitcoin is still far from being a global currency. Why? Because it is decentralized, it would be hard for the government to control its flow in their country if every one in the world uses bitcoin. I see bitcoin as an alternative currency which can be used globally but not as the main currency. Not only with that, there are other factors that need to be considered why it'll be hard for bitcoin to be a global currency.
About money laudering, it's an advantage for the criminal since it'll be hard to locate them. But just like with fiat, money laundering are still everywhere.

[jarhed]

Even with or without anonymity, bitcoin is still far from being a global currency. Why? Because it is decentralized, it would be hard for the government to control its flow in their country if every one in the world uses bitcoin. I see bitcoin as an alternative currency which can be used globally but not as the main currency. Not only with that, there are other factors that need to be considered why it'll be hard for bitcoin to be a global currency.
About money laudering, it's an advantage for the criminal since it'll be hard to locate them. But just like with fiat, money laundering are still everywhere.

When a cryptocurrency falls under the jurisdiction of world banks or bankers, then it is possible and will be the new world currency. So far, cryptocurrency does not show significant success in increasing its capitalization.

[maxreish]

There are actually so many hindrances for bitcoin to become a global currency as you are wishing for.
First, it is centralized and doesn't control by any institutions like governments and banks.
Second, it has high volatility characteristics.
Third, not all country accept bitcoin legally. A high chance that it is impossible for it to become global currency.

I don't really understand what ID's are you talking about when it comes to btc or even in btc transactions. That's why it is anonymous it's because we just relying with the btc address itself.

[pamsugas]

bitcoin will never be a global currency even though every wallet must have an identity. Why? because the value of bitcoin is volatile so it is not suitable as a currency the bitcoin community believes that bitcoin is a digital asset like gold not as payment.

[Meowth05]

bitcoin will never be a global currency even though every wallet must have an identity. Why? because the value of bitcoin is volatile so it is not suitable as a currency the bitcoin community believes that bitcoin is a digital asset like gold not as payment.

Bitcoin is versatile, it can be use as a currency and as an asset as the same time. However, just like you have mentioned it is not perfect of currency due to high volatility rate hence, it is much better it as asset. Bitcoin is good at long term investment and we can classify it by just looking back on its history.
Cryptocurrencies especially Bitcoin cannot be global currency due to reason of decentralization which limit the government to manipulate this technology.

[hotmom]

In fact, I see no reason why bitcoin should not become a world currency. It doesn't happen precisely because some people interfere with it.

[Coinpush]

Here's my 4 check points for Bitcoin, or some crypto, to become globally endorsed:

1. More businesses accept it as a form of payment.
2. Software becomes more intuitive and user-friendly.
3. People realise the benefits of using it (https://coinpush.io/blog/the-benefits-of-cryptocurrency)
4. Fiat destabilises - due to inflation, corruption or political circumstances.

[cryptoknightt]

I think this is because the influence of the supply is too little while the number of people in the world exceeds the total supply of bitcoin so it will not be suitable if bitcoin is used as a global currency that is used by many people will certainly be a lot of price manipulation that occurs and the price of bitcoin will has a very extreme movement.

[jootn2kx]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

Money laundering and other financial problems are a serious thing, of course, but I feel like they are only an excuse that is given to us to delay the acceptance of cryptocurrencies for as long as possible. Think about it — these issues were a part of the financial world long before cryptos were invented, and fiat currencies worked just fine for criminals. Meanwhile, if crypto gets adopted, banks will be left without clients, as they are no longer needed. Some people will remain, sure, but they will still lose billions, even trillions of dollars. That's what's stopping crypto adoption, and not money laundering.

[skarais]

I think this is because the influence of the supply is too little while the number of people in the world exceeds the total supply of bitcoin so it will not be suitable if bitcoin is used as a global currency that is used by many people will certainly be a lot of price manipulation that occurs and the price of bitcoin will has a very extreme movement.

Being a global currency in my opinion is still very difficult to implement. Bitcoin prices are very volatile, volatility is also very high in the market. But it is possible that bitcoin will be used as a payment system in all countries without government knowledge. Because of its anonymous status, bitcoin users can make payment transactions wherever they like and for any purpose as far as getting the agreement of both parties. In my opinion, so far the governments in many countries impose a bitcoin regulation that cannot be used as a payment system and can only be used as a trading asset on the commodity market. As far as I know, the government is afraid that bitcoin will function as a medium for money laundering and financing terrorism and many other crimes.

[Nhor1011]

First bitcoin is decentralized and has a limited supply,maybe government was thinking that the supply is insufficient for people to use as global currency. There is lot of things to consider for bitcoin to become a global currency like internet,banks, etc...Also it's difficult to replace fiat currency because it was issued by the government since then and it was already used for daily transactions anywhere at anytime. Actually if you think tracking system is the problem ,i think your wrong because before you can cash out you need to undergo kyc not only on exchange but also to the remittance where you can cash out your money from bitcoin. So if bitcoin become a global currency there is no difference like cashing out fiat money.

[panganib999]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

If this tracking system for bitcoin that you're saying will be implemented, I don't think the anonymity that the crypto enthusiasts loved won't make any sense at all. The anonymity is what makes it unique from other cryptocurrencies, especially from fiat. And yes, I think there won't be any chance for bitcoin to become a global currency because there are still countries that are banning the use of bitcoin, if not, trying to take it down completely. Plus the said legal issues, there would be a long list of bitcoin-related crimes. So we will be needing to compromise for we can't have the best of both worlds, it could either be the same bitcoin that people preferred due to its anonymity and decentralization but not a global currency, or bitcoin being a global currency but losing its uniqueness from other currencies in terms of privacy.

[CLS63]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

It is not the money laundering that is effective on preventing Bitcoin from being a global currency. There is so many examples proving that money laundering is done by any kind of money.  In my opinion, the real reason is that Bitcoin has a decentralized system and also it is too volatile. Governments won't be willing to take the risk I think.

[dimox]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

I think you are extremely wrong here.

We can make the same argument here with fiat currency. Look at cash, it's a tool that can avoid tax extremely easily, and it doesn't have tracking or anything.

We are moving to a society where being anonymous and safe is quickly become a top priority for people, and Bitcoin offers this tool to others and there proof of this with how big it's gotten these past years

anonymous is more important if you playing crypto. money laundry problem can be solve but it will cross with this anonymous. and we can manipulate something easily without problem if 'they' want.
actually people not ready to move in bitcoin as global currency.

[jarhed]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

I think you are extremely wrong here.

We can make the same argument here with fiat currency. Look at cash, it's a tool that can avoid tax extremely easily, and it doesn't have tracking or anything.

We are moving to a society where being anonymous and safe is quickly become a top priority for people, and Bitcoin offers this tool to others and there proof of this with how big it's gotten these past years

anonymous is more important if you playing crypto. money laundry problem can be solve but it will cross with this anonymous. and we can manipulate something easily without problem if 'they' want.
actually people not ready to move in bitcoin as global currency.

Ananimity is actually not as important as they want to bring it to us. On the contrary, when using Bitcoin there is no anonymity. Therefore, I just think that in the future many countries will support Bitcoin.

[suvo05]

Governments and economists are still confused over the fact that if BTC been used globally then what is going to happen. Some gov thinks that their reserve bank will lose control over the economy so the Gov are putting several kinds of ban over the BTC.

The other thing is BTC is still not as simple as the fiat, we need an internet connection, electricity for any kind of transaction. But it is still a tough job to provide internet and electricity 24 hours worldwide.

And the last thing is education. Is it possible for an illiterate person to use BTC ?

[Dreamr]

I don't think the issue of money laundering will stop bitcoin from becoming a global currency rather lack of proper cryptocurrency regulations around the world. Bitcoin is not the only currency subject to money laundering, even the fiat currencies are also used for money laundering. 

[Expecto]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

Governments do not lean towards making a cryptocurrency as their local currency and I don't think it will change in the future either. I think governments won't prefer Bitcoin instead of fiat money because of its volatile nature.

[mr3dds]

It's very volatile. That would never make it a real currency. It can be an asset. But never a currency to price tag with.

[n0ne]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

Governments do not lean towards making a cryptocurrency as their local currency and I don't think it will change in the future either. I think governments won't prefer Bitcoin instead of fiat money because of its volatile nature.

Most of the governments that are against bitcoin used to mention the volatility as the big issue to stop bitcoin growing as a global currency. Already it is a global currency, but few countries use it while majority unites

[Kambal2000]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

Governments do not lean towards making a cryptocurrency as their local currency and I don't think it will change in the future either. I think governments won't prefer Bitcoin instead of fiat money because of its volatile nature.

Most of the governments that are against bitcoin used to mention the volatility as the big issue to stop bitcoin growing as a global currency. Already it is a global currency, but few countries use it while majority unites

They are against because of many reasons, they cannot control it, they don't know how are they going to regulate it yet, how to imposed tax and many other things, besides that, a lot of people  and countries who doesn't access or don't know how to access internet yet, or don't have even a cellphone, so it will be hard for them.

[cotton ball]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

Bitcoin can not become global currency because many country not ready support with bitcoin as transaction payment, many country still use traditional market where payment transaction only accepted cash money, they do not know how to use bitcoin as currencies payment. Need to evaluation and give instruction for many people how to use bitcoin as legal payment before make bitcoin become public transaction payment.

[Aying]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

Bitcoin can not become global currency because many country not ready support with bitcoin as transaction payment, many country still use traditional market where payment transaction only accepted cash money, they do not know how to use bitcoin as currencies payment. Need to evaluation and give instruction for many people how to use bitcoin as legal payment before make bitcoin become public transaction payment.

And an addition to that government still not control bitcoin as their own currency like fiat. how they propose it to their people if they didn't own it. also, a lot of people in local area is still not using gadgets same to us. so its so very difficult to the government support bitcoin or crypto currency as the main payment method everywhere.

[SummerBliss]

There are problems related with every currency and money laundering is also present in usage of fiat so we cant blame bitcoin for such activities as criminals who conduct such crimes are responsible for such acts.The governments do not favour btc because of untraceable transactions and being decentralized currency they have no control over them and they will never regulate currency which cannot be controlled.So its hard for btc to become a global currency but still there are chances when volatility reduces and blockchain technology is adopted by governments these coins can be exchanged or act as a medium of payment in legal system of nation.

[o48o]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

This is like saying that owners of physical gold need to have an id. Naturally most of them do when they try to convert it to fiat, and they probably need to show some transactions on how they came up with it when there are large enough amounts of it in order to prove it's not from illegal activity. That doesn't mean gold itself is illegal.
 
The open ledger is already more trackable then anything else in the history of man and it will probably we even more connected to ids in the future. And there will be more solutions trying to hide and wash transactions. I think that this will be a battle that keeps on happening and there's no solution to it, like with gold or any other commodity.

But i think, because the nature of bitcoin, regulators have to adjust to it, rather then bitcoin adjusting to anything.

[DabsPoorVersion]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

Bitcoin can not become global currency because many country not ready support with bitcoin as transaction payment, many country still use traditional market where payment transaction only accepted cash money, they do not know how to use bitcoin as currencies payment. Need to evaluation and give instruction for many people how to use bitcoin as legal payment before make bitcoin become public transaction payment.

And an addition to that government still not control bitcoin as their own currency like fiat. how they propose it to their people if they didn't own it. also, a lot of people in local area is still not using gadgets same to us. so its so very difficult to the government support bitcoin or crypto currency as the main payment method everywhere.

The government doesn't need to propose bitcoin to their local netizen, and it is impossible for now to make bitcoin as their global currency.
Bitcoin can easily be adapted by the local netizen of a certain country if ever that it was legally accepted. There is no need to propose it to them since we all know that in every country in the world, there is a bitcoin user.

[ashmodeus]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

it based your mind right ?
and well,that really different with creator mind.
basicaly, satoshi just want this be simple. no need regulation , no need such as u say.
and i am really sure , satoshi doesn't want btc to be global currency

[Chris Barth]

Firstly, you're question seems to be directed to only "gents"... We've got ladies here... Lol

About what you said, I don't think bitcoin can be tracked. However, there has always been a way around everything, so, I won't be surprised if they find a way to do it. However, even if it can be tracked, I think it'll be a very stressful thing to do.

[Eclipse26]

If bitcoin will never be the global currency, then what more for altcoin? Bitcoin is dominating in the market. If tracking system were to be made, what's the point of anonymity? With tracking system, others can track everything.
If it'll be the global currency with tracking device, it will be more likely to be somehow centralized. The government can track every transaction

[Ashong Salonga]

One of the reasons why bitcoin cannot become a global currency because it is not recommended by government officials. Some countries are banning it because they do not have the power to handle it. Thus, if government do not accept it, people cannot use it officially.

[Wintersoldier]

One of the reasons why bitcoin cannot become a global currency because it is not recommended by government officials. Some countries are banning it because they do not have the power to handle it. Thus, if government do not accept it, people cannot use it officially.

This is indeed a fact but I want to add more reasons why. In almost all country, we government embed taxes to help the nation grow since we need budget for infrastructure and projects. In this case, since bitcoin is decentralize, we need a way to make it possible. So far, I haven't seen any crypto that provides the function of utilization of taxes so government can still have control over the country.

[Rufsilf]

One of the reasons why bitcoin cannot become a global currency because it is not recommended by government officials. Some countries are banning it because they do not have the power to handle it. Thus, if government do not accept it, people cannot use it officially.

That is why they need to pursue the regulations process in order to regulate crypto and from then, they can control the entire crypto market. But they have failed already, crypto holders never think that it will be the solution of scamming and illegalities happen around with crypto.

Bitcoin's development still going on, it may be the adoption aren't enough for the goverment to reconsider and gives support to us. But we can't just be hopeless, the time will come that they'll open up their mind and could appreciate the importance of Bitcoin to us now.

[boyptc]

This is like giving the cash that we have a security number but there's no way to track them. But it seems that you don't understand the point of what satoshi did on why he has created bitcoin.

You are concern for bitcoin's adoption but whether it has it or not, the gov't will always intervene to stop it.

[adzino]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency.
-snip-

If we alter anything in the bitcoin system, it won't be the same bitcoin that we are using. Again, if we start adding IDs to the wallet and keep tracking everything, then we no longer follow the main goal of bitcoin. No more privacy or financial freedom. There won't be any difference between using bitcoin and paypal. Remember, too many restriction is never a good thing. Nothing is preventing bitcoin from being a global currency. And if you didn't know, it is already a global currency.

[aysg76]

This is like giving the cash that we have a security number but there's no way to track them. But it seems that you don't understand the point of what satoshi did on why he has created bitcoin.
You are concern for bitcoin's adoption but whether it has it or not, the gov't will always intervene to stop it.

Just not that, he is also not clear about the concept of cryptocurrency.
See here:

I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

It is not possible to create cryptocurrency with tracking system as the architecture on which it works i.e. blockchain and it is not possible to broadcast sender's detail on blockchain along with coins. This is only possible if coin is used within a specific ecosystem - for example, sending from Coinbase account to Coinbase account through email address. But that's not cryptocurrency, it is just digital representation of cryptocurrency.

Hi, Gents,

But most important of all, you are addressing only males. That is not fair! 

[cotton ball]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

Bitcoin not become global currency because many people do not know with bitcoin, they can't use bitcoin for transaction or sent to other wallet. How to use bitcoin and what for using bitcoin still do not understand by many people, they less information about bitcoin as transaction and become currencies for sending and receiving using bitcoin.

[shield132]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

Omg, you are so wrong. At first please can you explain to me what does global currency means for you? Do you want to see bitcoin the only currency in this world used by all of nations? I highly doubt that will happen without whole globalisation, otherwise you can use bitcoin from any place of this world to any place to send money.
Also bitcoin isn't that much safe for money laundering too, if you see a lot of people are caught recently for bitcoin money laundering and scam projects.
Also for global purposes, I think yes, altcoin will be better option, new altcoin with suited possibilities for this.

[Artemis3]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

They already have, its called the blockchain, and wallet signature. If you want them to track you, you simply tell them which ones belong to you.

Contrary to your misbeliefs, Bitcoin is rather poor for "money laundering", as it leaves more traces; and if you voluntarily reveal it, they have complete info about your transactions.

If anything, its is people's misconceptions (such as yours) that prevents Bitcoin from achieving even more success. But the time for sensationalist media fud will fade with time, as more and more people use it and debunk those myths.

[Magkirap]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

It is hard for bitcoin to become a currency, bitcoin wasn't stable, it was extremely volatile. This is because it is not regulated by the government. Also, Bitcoin or cryptocurrencies are still at the initial phase of their journey and not yer fully adopted by the peoole and businesses. On the other hand, the adoption was still on the process, new people everyday are becoming aware about btc and trying to use it by themselves.

[hulla]

Even if Bitcoin was created by the G7 and the institutions it will never be global currency because the government of every country in the world will never let the legacy of their national currency obsolete while they embrace global currency. Mind you, this is the reason why the G7 and the institutions are against Libra coin.
Meanwhile, having a global coin will lead to conflicts cause the rules and regulations of every country on the globe are not all the same. But Bitcoin can still be mainstream of payment.

[Oceat]

Digital currency as a global currency is not what each country like to happen. Besides, cryptocurrency doesn't work without the help of a fiat so that's why in the first place, using Bitcoin as a global currency is not yet effective.

Each country has its own use of their respective national currency as a symbol that they are independent. Besides, the problem of using cryptocurrency or digital currency is still having a huge flaw in terms of using it.

[crossabdd]

one of the uniqueness of bitcoin is privacy. unknown to the owner and difficult to trace (although it still can) but transaction records remain. if bitcoin is given an ID, bitcoin will lose one of its uniqueness. and influence bitcoin. but keep calm, friend, I have read an article about altcoin which has an ID / serial number, namely KRATSCOIN (KTC) please check here http://3.0.49.178/ This is a new coin that has a serial number. but currently still in the development stage.

[rodel caling]

Be patient time has come for bitcoin  become global currency, is too very you g for bitcoin become a global currency and need a lot of improvements bitcoin become global currency.
Regutation is the key for bitcoin become global currency, I heard another proposal  from the gold fund proposed to the US security  and exchange commission as traded. If this proposal approve by us sec possible this the start for bitcoin become global currency.

[Maslate]

Be patient time has come for bitcoin  become global currency, is too very you g for bitcoin become a global currency and need a lot of improvements bitcoin become global currency.
Regutation is the key for bitcoin become global currency, I heard another proposal  from the gold fund proposed to the US security  and exchange commission as traded. If this proposal approve by us sec possible this the start for bitcoin become global currency.

Bitcoin is still young so it will still need more improvements and developments for it to become a global currency. For now, a lot of people are still skeptical about bitcoin usage but i know in the long run, bitcoin will be acknowledge by the people because of its own potentials and benefits. Once the government starts to support bitcoin, i believe all good things will follow. Regulations might be its key to be a global currency.

[diahsw]

in my opinion, why is bitcoin never a global currency, because every country already has its own currency, if you want to put bitcoin in it, of course there is a process that involves the entire country. If this is the case I find it difficult to make bitcoin a global currency ... !!

[Kambal2000]

in my opinion, why is bitcoin never a global currency, because every country already has its own currency, if you want to put bitcoin in it, of course there is a process that involves the entire country. If this is the case I find it difficult to make bitcoin a global currency ... !!

Added to that, not all countries are in favor in cryptocurrency, yes they might want crypto, but just means as payment solution, alternative money transfer for fast remitting or money, can be a form of investment but not as a global currency, although I would love too, still we know that it can't happen as of the moment.

[Murat]

I think every digital currency is short of global currency since it's been using everywhere, but in terms of legality then it can't be still global legal currency, I think there are a lot of reasons behind this scene, First of all, Bitcoin is a decentralized currency, it can't be controlled or regulated by any means, So when you have no control on your act then it must be crazy, I think that's the main problem of becoming a global currency, another thing is that Bitcoin is becoming a part of dispute around the world especially for the conventional banking system and fiat money, So they are trying to minimize Bitcoin and pushing the government for not declaring as a legal currency.

[White Christmas]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

The strength of bitcoin is being anonymous so when we provide each wallet our ID's then it would be hard for us to remain anonymous. If we provide our id's then we would probably more easier to track but it is also good because it will lessen the crime in the crypto but in the other side we will not become anonymous anymore if this happens.

[AliMan]

I think this plan was too hard for the legislators to fulfill what's the motive and visions for bitcoin, since those said factors like money laundering and other crimes were their basis for hindering this as global currency. Of course the volatile behavior of bitcoin was the first thing about it, but the awareness of it doesn't stop each individuals to still keep this as an asset due to financial independence. Basically our government system cannot intervene on its systematic approach, due to decentralization of bitcoin which was separated from fiat economy.

[Gotumoot]

Many Bitcoin addresses are genarates everyday, and each one is unique and hard to guess who owns it. And this is why bitcoin is what it is today. So if we insist on having a tracking id to find out who owns it maybe many investors will stop investing in bitcoin. And this is definitely going to be controlled by the government that most crypto currency investors don't like.

[NeironixNV]

Bitcoin for many - roulette replacement or, speaking financially, it is a great asset for speculation. Buying bitcoins is relatively simple, does not require any special knowledge and trips to investment companies. Cryptocurrencies have very sharp fluctuations, which attracts a lot of “gamblers” to the “game” with the course - those who rather place bets rather than invest. This only increases the fluctuations and makes Bitcoin look like a financial pyramid. But in the Neironix platform, i find a lot of interesting info.

[nienzer]

in my opinion, why is bitcoin never a global currency, because every country already has its own currency, if you want to put bitcoin in it, of course there is a process that involves the entire country. If this is the case I find it difficult to make bitcoin a global currency ... !!

I think that means Bitcoin as a global currency like a dollar (widely used). This is not yet possible, because global acceptance by all the countries is needed, and this is not possible, because many countries see Bitcoin as a threat to their economy

[vintages]

in my opinion, why is bitcoin never a global currency, because every country already has its own currency, if you want to put bitcoin in it, of course there is a process that involves the entire country. If this is the case I find it difficult to make bitcoin a global currency ... !!

Plus one on the point you stated about every country having their own currency.
Probably when there is a world single power, then there will be a one single currency and Bitcoin might be part of it, aside that, Bitcoin can only work in line with every country currency to be functional. That is if it is acceptable in that country.

[jakoylantern]

For me, the main reason why bitcoin can't become a global currency because you don't have the identity on your wallet/BTC no KYC means that they can't tell how are you. Also, no one can control Bitcoin, for an example on scamming, e.g., if you are paying something using bitcoin, but after the transaction gets to confirm, you don't get what you paid for. In banks, you can retrieve your money, but in bitcoin, you can't. There are still some reasons why it can be done, especially to the government sector parts. By the way, cryptocurrency is created to become an alternate payment/transaction system. It never aims to become the primary currency.

[angrybirdy]

For me, the main reason why bitcoin can't become a global currency because you don't have the identity on your wallet/BTC no KYC means that they can't tell how are you. Also, no one can control Bitcoin, for an example on scamming, e.g., if you are paying something using bitcoin, but after the transaction gets to confirm, you don't get what you paid for. In banks, you can retrieve your money, but in bitcoin, you can't. There are still some reasons why it can be done, especially to the government sector parts. By the way, cryptocurrency is created to become an alternate payment/transaction system. It never aims to become the primary currency.

aside from this, we all know that every country has a different value in their currency.
Bitcoin can't make every country to become equal in their economy. Big countries such as US and China won't leave this to happen, they have the biggest economy and they won't agree to become equal with other countries with an economic crisis.

[tambok]

For me, the main reason why bitcoin can't become a global currency because you don't have the identity on your wallet/BTC no KYC means that they can't tell how are you. Also, no one can control Bitcoin, for an example on scamming, e.g., if you are paying something using bitcoin, but after the transaction gets to confirm, you don't get what you paid for. In banks, you can retrieve your money, but in bitcoin, you can't. There are still some reasons why it can be done, especially to the government sector parts. By the way, cryptocurrency is created to become an alternate payment/transaction system. It never aims to become the primary currency.

aside from this, we all know that every country has a different value in their currency.
Bitcoin can't make every country to become equal in their economy. Big countries such as US and China won't leave this to happen, they have the biggest economy and they won't agree to become equal with other countries with an economic crisis.

We can just do it as an alternative option or alternative currency but not as global currency just like you said, countries have different currency and it will be  hard to implement to make it as global currency. If ever one proposes it, it will be a very long deliberation, arguments and many more but still will end as 'no'. 

[Asmonist]

For now, its really difficult to make bitcoin  as global currency. There are many complications like the regulations to be set, knowing the client, the process of social adaptation to its system of exchange, etc. However, there are many who had really adapted it but mostly are still unaware of it. But someday soon I believe it can be as we are going digitally.

[jets567]

As they say, money laundering has been on our society for a long time so even with or without Bitcoin they will continue to exist. Global adoption will happen if people understand and learn how to use of Bitcoin and for me the governement will play a big role on it because if they support Bitcoin then their citizens can use it feely without any fear and eventually they will see the importance of Bitcoin and benefits they can get.

[qwertyup23]

There are several factors to consider before thinking the possibility of cryptocurrencies becoming the new global currency in the market.

First, bitcoin (to be specific) cannot be considered as a global currency due to its acceptance among the countries. Others prohibit the utilization of such while some accept it on their transactions.
Second, having a currency that contains a limited supply is subject to inflation in the future. People who own majority of its supply has the potential to manipulate or control the market; and
Third, the application of a digitalized currency cannot be implemented in countries who are living on the underdeveloped state. Their priority revolves around strengthening their economic and political state before considering this kind of change.

[7788bitcoin]

in my opinion, why is bitcoin never a global currency, because every country already has its own currency, if you want to put bitcoin in it, of course there is a process that involves the entire country. If this is the case I find it difficult to make bitcoin a global currency ... !!

You seriously do not need any country to accept bitcoin to use it as a global currency and all you need is people accepting it as a mode of payment and as long as there are merchants accepting bitcoin you can use it as a global currency, why everyone is thinking about making bitcoin their version of fiat currency. Bitcoin is a global currency simply because you can trade freely without any boundaries and that is what you need to be accepted as a global currency.

[Herry Toms]

I think it could be a global currency but the problem is these politician guys are the old school they don't understand this technology and other reason it with Bitcoin they can do any correction. So it is really hard for bitcoin to become a global currency.

[jony1313]

DIFFERENCE BETWEEN FIAT AND CRYPTO:

•   Fiat Currency is backed by Governments/Countries itself. What determines the value of a currency is the economic health, demand, growth, political stability to name a few, of the respective country. Before 1930, most fiat currencies were backed by gold and silver.

•   Since 1971, U.S. citizens have been able to utilize Federal Reserve Notes as the only form of money that for the first time had no currency with any gold or silver backing. This is where you get the saying that U.S. dollars are backed by the “full faith and credit” of the U.S. Government - quoted in google.com.

•   What backs crypto value is purely supply and demand. The demand creation of a crypto is its sole objective. To create demand, the crypto has to have a purpose. And most purpose commonly promoted is utility. The number of ways you can utilize the said crypto. The more utilization factors the more demand there is for it.

•   There are other ways to substantiate value of a crypto and that is to back the crypto with a 1 to 1 ratio in assets or in USD. Then the question is, how 3,000 crypto currencies in circulation be monetary eco sustainable? Can anyone imagine walking into McDonald and view a chart of 3,000 different pricing? Which also means the crypto is a payment gateway pegging against USD instead of bearing any true characteristic of a currency.

•   A country’s currency is in its own legit form of legal tender, the only currency acceptable under financial sovereigns of a country. People in the world must be made to understand that. Retailers in Thailand cannot put up products price tags in EUROS/USD, it is illegal. It has to be in Thai Baht.

•   It is hardly imaginable for everyone in the world to retail with a Crypto-Currencies at a rate of 7 transactions per second. When mining nodes are reduced due to non-performing mining ratio, mining blocks in the Blockchain will significantly be limited too, rendering delays in transactions while usage increases.

•   In time to come, as trends of crypto picks up, Thailand can issue BAHT COIN or UK the STERLING COIN, exactly what China wishes to do. Digital RMB, but would such crypto currencies be fully decentralized? We all have our answers. Absurd to even think of producing Thai Baht, Pound Sterling or Chinese Yuan at the cost of electricity. It is currencies in digital forms.

KRATSCOIN is not meant for that purpose. In some opinion, apart from utilization, a crypto can be for safekeeping, an entity for keeping money while allowing easy liquidation, at a click of a mobile button, not to mention sending or transferring without the trouble of going to banks, which was the original purpose of Bitcoin to begin with. Therefore, KRATSCOIN would be better termed as Crypto Commodity, sharing similarities as Metal Commodities.

An individual cannot use gold to make a purchase, neither can one eat gold. It can only be kept or invest in for appreciative value over time. Gold is being exampled for its scarcity which reasons for its higher value over its cousin, silver or bronze. Who or what determines the value of gold? Just like any other crypto, demand by humanity. As in all other commodities, it must also be placed in checks by governments. To put in checks, serial numbers are introduced to protect a country’s commodities outflows or illegal exports.

Humanity made Bitcoin a reality. Acceptance by the majority members of the public made Bitcoin to what is it today with the trust they entrusted it with, or is the majority public hopping on the band wagon to make a few quick extra bucks? Whatever the reasons are, the characteristics of Crypto Currencies are only matched by the behavior of Commodities.

SERIALIZED COINS - WHAT IT MEANS FOR THE PUBLIC:
Every currency has its own remarkable name, design and colors. Dollars, Euros, Pound, Tugrik, Peso, Rupee, Rupiah, Dina, Ringgit, Baht and the list carries on. One thing every currency have in common - Serial Numbers.

In any crime, investigators will firstly establish motives and mode of operation, both of which are very likely related to money. So following the money trial is a natural thing to do for investigators/authorities and it has become a common practice. Crimes require funding ie robbers need money to buy guns to carry out its robbing activities. Cutting off financing will reduce criminal activities. That’s the approach governments of the WORLD have adopted for crime fighting.

Perhaps people do not realize this while most do not feel the pinch. Humanity tends to take life for granted until apocalypse happens. Take a minute to visualize the tallest tower in your homeland collapse into a pile of dust with thousands of casualties effecting everything else that comes to mind. Imagine a family member, just 1 is enough, is among those casualties.

• Imagine if monetary system is not in place and drug dealers, among many, roam the earth freely distributing what can be death threatening substance to your kids. What if you are mugged of your inheritance [items left to you by your father] that is beyond retrieval? As for crypto enthusiast, what if your wallet gets hacked as even the mighty Pentagon gets hacked. All the above can go away if the crypto system leaves a trail for hound dogs to sniff out. Money Trail or Serial Codes Trail to be exact.

• Citizens rely on governments and their countries to do what is best for them to lead their daily lives, flourish, advance, improve and strive but at the same time, citizens want to take away the single most important thing deemed crucial in the hierarchy of humanity from governments with additional boastful remarks such as “I transferred $400 million from one corner of the earth to another corner in a single transaction and no governments can do anything about it”.

• In-short, to boast unregulated financial movement is to arrogantly promote crime without realizing it while challenging the world’s monetary authority. Oldest advice in the book teaches us never to pick a fight we can’t win.

• Serial Coded Coins does not take away the financial movement freedom nor does it take away your privacy. It merely provides Authorities the necessary means needed for crime prevention and fighting. It only re-inforce security and safety.
SERIALIZED COINS - WHAT IT MEANS FOR GOVERNMENTS:
• Governments are relentlessly trying to find new ways to keep track of crypto transactions. Crypto Currency Exchanges, just like all other Financial Institutions and Banks, are required to practice the most stringent Know Your Customer (widely known as KYC) process. The KYC is designed to provide governing agencies and authorities with information pertaining to crypto ownerships.

• But no governments can have information on Peer-to-Peer (also known as P2P) transactions unless the government in question launch a full scale Federal Investigation on certain suspected individuals seeking Wallet Developers to unveil the ownership of certain wallet addresses. Do not forget, National and Global Security trumps Privacy Act. Refusal to co-operate under the pretext of Global or National Security will only result in an out-right ban, which is exactly what happened to Blackberry.

• Questions to Governments – What if Wallet Developers or Crypto Exchanges shuts down which can happen for various reasons be it foul-play, sinister or forcefully under threat? What if servers are damaged and ruined? An EMP strike or a simple magnet can make it happen. Information/identities of suspected customers of such addresses shall be lost forever and along with it the Money Trial.

• The most probable way of evading Authorities with crypto assets are developing an e-wallet for own illicit purpose. Since the cost of developing an e-wallet is relatively low in considerable cost to hiding, what can governments do to flush out these ants from the vast networks of tunnels?

• With Serialized Coded Crypto Assets, it doesn’t matter if servers of Exchanges or Wallets are destroyed. The Serial Codes of each token/coin enables governments of every participating country to track both origin and destination by identifying records of each token/coin in wallet address. It can disappear into a cold wallet but emerging some place later yet Authorities can still detail which particular token/coin has at one moment of time been into which wallet, on what day and date.

• If the battle of financial crimes can be resolved with a simple Serialize Coded Crypto Asset, the eradication of corruptions, money laundering, unlawful proceeds and terrorism financing will be made possible. Criminals can no longer exploit the genius creation of Sathoshi – Blockchain and Crypto-Currencies.

• Global Security, Anti-Terrorism Financing and Money Laundering could just be excuses granting government agencies the need to have access to financial information in the Monetary System. Nonetheless, it is in the interest of every nation that capital outflow is controlled. Capital Outflow is most frequent when the economy of a country is deteriorating. In the face of an economy meltdown, monetary flow is most needed and yet citizens tend to transfer monies further away illegally from their own country in an act of selfishness. This would not be tolerated by any country. Serial Coded Coin shall prove this attempt futile.

• In most part of Asian Countries, many crypto-currency mining operations are carried out illegally. The legality sits on thin fine line where Authorities can pin only stealing of electricity as a major concern to the respective country. Since most Power Companies belongs to the Country in one way or another, it is financially damaging to Power Producers and Utility Suppliers. Serial Codes can determine if the KRATSCOIN is mined legally or illegally making it difficult for miners or mining farms to mine crypto while avoiding making electricity payments. Will this deterrent disrupt the chain of KRATSCOIN supply? That’s not how Blockchain Tech works.
TAXATIONS - WHAT IT MEANS FOR PUBLIC AND GOVERNMENTS:
• Taxation cannot be imposed on “Illegal & Unlawful Proceeds” instead confiscation is enforced in many countries. Origins or proceeds of Serialized Coded Crypto Assets can be easily identified by the Serial Codes in-conjunction with the Blockchain. This exercise can evidently proof the legitimacy of the aforesaid token/coin. By “Illegal & Unlawful Proceeds” also refers to crypto coins obtained via illegal mining operations.

• Taxation on Crypto Assets are calculated on profits deriving from the sale/disposal of the crypto Assets. If we are small crypto believers, the amount of taxation rendered by Inland Revenue will be insignificant. Why risk Freedom of Life over Freedom of Small Monies. If we are big crypto believers, taxation on Serialized Coded Coins can be considered added security to your assets protection.

• By adopting Serialized Crypto Assets, declaration is made easily possible via proof of token/coin origin via the Blockchain. If the Authorities can know where our crypto assets come from, the Authorities will know where it will disappear to. It is taxation cum insurance in one tiny sum. This added security with freedom feature will encourage self-declarations of crypto assets to Authorities and Agencies.
PRIVACY & ANONIMITY:
• Many may be skeptical of their wealth being tracked and monitored. But in this era of technological advance society, everything we touches has our signature. Banks, iPhones, Samsung Mobiles, Google, Facebook, Whatsapp, WeChat, LINE, Viber, Facebook, Properties, Utilities. Almost everything. It is to this fact that there is a need for Privacy Protection Act.

• As explained before, Crypto Currency Exchange KYC procedures is designed to expose the identity of Crypto Assets ownership. The Blockchain is supposed to serve as a transparent information platform. The question of privacy over Serialized Coded Coins does not exist, it does not make Serialized Coded Coins ownership any less private.

• Ownership of wallet addresses shall always remain anonymous while the only way Authorities can get to it is through Wallet Developers by virtue of Global/National Security Threats or by a Court Order as per the Privacy Protection Act.
SAFETY & SECURITY (CODED CRYPTO VS FIAT + COMMODITIES):
• No human mind can memorize the millions of serial numbers printed on fiat currencies. The records of Serialized Coded Coins will forever be in the Blockchain embedded within each transaction from wallet to wallet.

• Serialized Commodities such as gold can be melted down. Diamonds recrafted. Fiat double printed. But not Serialized Coded Crypto Assets.

• Should an accessory system be added into the KRATSCOIN Blockchain, allowing reports on criminal activity be made within the Blockchain, notifying all ledgers of certain stolen Serial Coded Coins, enabling WARNINGS and forbidding next transaction of that particular Serial Coded Coin, wouldn’t this function enhance protection. A theft deterrent function which can never be achieved with physical gold, diamonds or fiat.
KRATSCOIN SUMMARY:
• Most crypto currencies have not reach a level of security alert for governments. This could be the only reason why a possible ban has not been discussed. China and India has begun efforts to control or ban crypto currencies in their quest to combat capital outflow, writer’s personal opinion. The EU has stopped Libra from implementation. “A company cannot be allowed Authoring Power for issuance of currencies” quoted the governments. KRATSCOIN is fully decentralized with no ownership nor control by any country, company or individual. Once again, the beauty of Bitcoin decentralization concept prevails.

• “There is no such thing as a world currency. However, since World War II, the dominant or reserve currency of the world has been the U.S. dollar” quoted in google.com.

• Most countries have “Foreign Reserves” as backing to a country’s fiat currency. It is a mean of “back up” attempt should all factors above mentioned leading to the value of their currencies collapse. Then what will happen if the Country of the Foreign Reserves collapse?

• Serial Coded KRATSCOIN belongs to no one, no country, no company and therefore theoretically shall not be effected by politics, war or global economy meltdown yet everyone, every country and every government is able to benefit from KRATSCOIN.


"Quoted by"
https://lintangnews.com/ada-kratscoin-ini-bedanya-dengan-bitcoin/
https://0xzx.com/201910111244312902.html
https://news.tokocrypto.com/tag/kratscoin-ktc/
http://bbs.tianya.cn/post-lookout-836105-1.shtml
https://zhuanlan.zhihu.com/p/84844615

[sapnu]

in my opinion, why is bitcoin never a global currency, because every country already has its own currency, if you want to put bitcoin in it, of course there is a process that involves the entire country. If this is the case I find it difficult to make bitcoin a global currency ... !!

Added to that, not all countries are in favor in cryptocurrency, yes they might want crypto, but just means as payment solution, alternative money transfer for fast remitting or money, can be a form of investment but not as a global currency, although I would love too, still we know that it can't happen as of the moment.

I can say that bitcoin can be our global currency if we adopt the technology that is using bitcoin as payment so fast because not all country is not that rich, and also not all people really know bitcoin is. So we should spread more of it so that many people will use it or even buy it, tell them how bitcoin beneficial to everyone, and how it is helpful to any transaction we are making. If we can adopt the technology so easy, it can actually happen, but I think it is not gonna happen if the government dont want it to happen because they are regulating it since if we use bitcoin they cannot get some taxes. But maybe they can if they make some law about it. It is actually hard to say.

[CLS63]

I wish that Bitcoin price would never lose suddenly lots of value and so be less volatile. Then I think Bitcoin would be a candidate to be a global currency for sure. But that is not the nature of Bitcoin and so it is a far possibility that Bitcoin to be the local currency of all countries.

[StayFly]

in my opinion, why is bitcoin never a global currency, because every country already has its own currency, if you want to put bitcoin in it, of course there is a process that involves the entire country. If this is the case I find it difficult to make bitcoin a global currency ... !!

Added to that, not all countries are in favor in cryptocurrency, yes they might want crypto, but just means as payment solution, alternative money transfer for fast remitting or money, can be a form of investment but not as a global currency, although I would love too, still we know that it can't happen as of the moment.

I can say that bitcoin can be our global currency if we adopt the technology that is using bitcoin as payment so fast because not all country is not that rich, and also not all people really know bitcoin is. So we should spread more of it so that many people will use it or even buy it, tell them how bitcoin beneficial to everyone, and how it is helpful to any transaction we are making. If we can adopt the technology so easy, it can actually happen, but I think it is not gonna happen if the government dont want it to happen because they are regulating it since if we use bitcoin they cannot get some taxes. But maybe they can if they make some law about it. It is actually hard to say.

For Bitcoin to be accepted as a global currency it needs regulations. The bitcoin price volatility is freaking the people out and the governments as well. therefore for bitcoin to be accepted as a global currency the high price volatility must be contained.

[Drai]

I don't think this is the reason why bitcoin is not a global currency yet, there are offshore and Swiss accounts in existence where transaction are very discreet and the customer identity are protected like it is worth a billion dollars, those banks didn't ruin that economy and while I have to admit that shady people use it, I also have to point out that even with traditional currencies that can be traced to the last penny, shady people still find ways to launder it.

Personally I think what's holding Bitcoin back is the fact that it's not scalable yet and can handle just 7 TPS, whenever we see a spike in usage, transaction fees soar through the roof and you see so many unconfirmed transactions, that isn't something that is ready to serve as the default payment method the world over.

[rmhuntley]

The emergence of Bitcoin also affects currency value even though it is not too large. The progress of the contest contributes to the reduction in the value of conventional currencies. The perceived impact may not be as fast as inflation, but you can already see it in the increasingly popular online transactions. If the possibility of conventional currency is abandoned increases, this is where the role of Bitcoin as a virtual currency will be considered vital.

It seems someday Bitcoin will be a global currency but do not know when it happens

[sandra2010]

Bitcoin already a global currency.

[sandra2010]

Specially that you can use it in buying goods and service which is not exists in any other coin or only few coins.

[bobdk]

For Bitcoin to be accepted as a global currency it needs regulations. The bitcoin price volatility is freaking the people out and the governments as well. therefore for bitcoin to be accepted as a global currency the high price volatility must be contained.

I'm not following you here. Are you making two separate points, one about regulation and the other about price volatility, or are you somehow suggesting that price volatility can in some way be contained by regulation? How are these two things connected?

[bitcoinposts]

More the merchant acceptance around the world we can expect bitcoin to be global currency with  the major merchant terminals and many business accept btc as major currency

[Memminger]

For Bitcoin to be accepted as a global currency it needs regulations. The bitcoin price volatility is freaking the people out and the governments as well. therefore for bitcoin to be accepted as a global currency the high price volatility must be contained.

I'm not following you here. Are you making two separate points, one about regulation and the other about price volatility, or are you somehow suggesting that price volatility can in some way be contained by regulation? How are these two things connected?

Exactly LOL. This two aren’t connected really. High volatility happens because the market is still young and what I mean by young is that the volume aren’t that huge but in the future which I am optimistic about is that when there are more people who are into Bitcoin or the cryptocurrencies in general then there will be lesser volatility as the price would tend to to be more stable.

[iamaruf]

Bitcoin already a global currency.

No,bitcoin is not global currency.because many countries don't support bitcoin even it's illegal in our country.but yes people all over the world use bitcoin anonymously.Because government can't identify bitcoin trx.If all countries accept bitcoin then it will be a global currency.

Specially that you can use it in buying goods and service which is not exists in any other coin or only few coins.

why you are making two different post? for activity?don't do this.this is against forum rules.

[TheGreatPython]

I don't think this is the reason why bitcoin is not a global currency yet, there are offshore and Swiss accounts in existence where transaction are very discreet and the customer identity are protected like it is worth a billion dollars, those banks didn't ruin that economy and while I have to admit that shady people use it, I also have to point out that even with traditional currencies that can be traced to the last penny, shady people still find ways to launder it.

Personally I think what's holding Bitcoin back is the fact that it's not scalable yet and can handle just 7 TPS, whenever we see a spike in usage, transaction fees soar through the roof and you see so many unconfirmed transactions, that isn't something that is ready to serve as the default payment method the world over.

On my own opinion, I think what is stopping it from becoming global currency is just the volatility of it, people cannot rely in the currency that once they receive it send money to someone, they will get the same value, they are not also considering the fact that they could also have a big win if bitcoin spikes at the time the money was received.

This is the reason why many are just holding it as a digital asset first pending the time that bitcoin will get to a stable point where it will have a very much reduced volatility AMD become more reliable coin. I want to also believe that government supports it but they would not want to give their consent for now because if this Issue of volatility so that people will not have issue with their policy for approving it, but I know it will only be for a matter of little time, bitcoin will soon become a global currency.

[memedennis]

i think one of the reasons bitcoin will become a global currency is the rate of acceptability . so far so far so good , alot of organizations are gradually accepting bitcoin as means of payment .

[Slow death]

i think one of the reasons bitcoin will become a global currency is the rate of acceptability . so far so far so good , alot of organizations are gradually accepting bitcoin as means of payment .

bitcoin is already a global currency, think of the following:

I am from Mozambique and I am in this forum, in this forum there are people from all countries of the world and these people use bitcoin, I may be wrong in my statistics when I say that this forum has people from all countries of the world. But I believe at least one person from every country in the world uses or has had bitcoin.


OP, governments' concern about bitcoin is not just about money laundering, Is about political issues like:

Which country created bitcoin (the person who created bitcoin is from which country)?

this is the central point of many countries' hesitation to agree to create good bitcoin laws

[romero121]

i think one of the reasons bitcoin will become a global currency is the rate of acceptability . so far so far so good , alot of organizations are gradually accepting bitcoin as means of payment .

bitcoin is already a global currency, think of the following:

I am from Mozambique and I am in this forum, in this forum there are people from all countries of the world and these people use bitcoin, I may be wrong in my statistics when I say that this forum has people from all countries of the world. But I believe at least one person from every country in the world uses or has had bitcoin.


OP, governments' concern about bitcoin is not just about money laundering, Is about political issues like:

Which country created bitcoin (the person who created bitcoin is from which country)?

this is the central point of many countries' hesitation to agree to create good bitcoin laws

Yes, in some form bitcoin is truly the global currency. It can be accessed from anywhere in the world as well can be cashed out to any of the local currency. As said at least one person from each country keeps using bitcoin. The controversy keeps going forever, who created and which country has a major contribution. The role of the governments in the bitcoin adoption and so on.

We're at the very early days of a new technology making a change in the financial ecosystem. Now few countries have begun to support bitcoin with some legal regulations, and hope the same gets followed by rest of the countries.

[francmorio]

From What I learnt from one of FreshForex weekly tutorials on Crypto, Bitcoin will be accepted with time, But not just yet, it must be embraced by most governments  before it can be accepted widely!

[budi691]

Why not?? Bitcoin can become a global cryptocurrency, this is prevented only by banking systems

banks will do a lot of dirty things to stop the bitcoin move. but funny, banks are starting to imitate the steps of bitcoin in digital assets and transactions. they forget, things like that were started by bitcoin.

[ðºÞæ]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

You confuse BTC with Bitcoin and laundering is only possible when you cash out, blockchain records are "forever".

[hahay]

I only feel that bitcoin is no longer a part of the currency because in reality bitcoin is only used to benefit from investments and also trading that is normally done, and that's why it seems that bitcoin is no longer working as a currency should because it would be more inclined to a digital assets or crypto assets. That is in my opinion bitcoin cannot or is difficult to become a currency and there are many other factors.

[uneng]

I think it's not the main point, because any currency is used to launder money. If governments were interested in finishing money laundering they would start by deleting paper money from their countries and adopt a 100% digital payment process method for everything.
Bitcoin can't become a global currency just because it's too volatile, a country can't rely its economy on a currency like bitcoin knowing tomorrow they can skyrocket or bankrupt.

[imutlinda]

I only feel that bitcoin is no longer a part of the currency because in reality bitcoin is only used to benefit from investments and also trading that is normally done, and that's why it seems that bitcoin is no longer working as a currency should because it would be more inclined to a digital assets or crypto assets. That is in my opinion bitcoin cannot or is difficult to become a currency and there are many other factors.

I also think that bitcoin is currently more dominant in the investment field, to be used as a transaction tool might take a lot of fees. and in my opinion this is a good thing because it increased its position from a transaction tool to an investment.

[Tylev]

There are several reasons why any decentralized cryptocurrency cannot become a world currency. States and their banks need certain guarantees that the means of payment used will not depreciate sharply. A decentralized cryptocurrency, including bitcoin, just can not give any guarantee to participants in financial relations. For any state, bitcoin is alien, not backed by the authority and obligations of any state. Well, an important role is played by large price volatility and very low possible state control over financial flows in cryptocurrency.

[ADVB]

Hola buen día, encontré esta nota y me pareció interesante el porque RUSIA se opone a que la criptomoneda sea utilizada como una manera de sustituir a la moneda global:


La gobernadora del Banco Central de Rusia, Elvira Sajipzádovna Nabiúllina, expresó este jueves su oposición al uso de las criptomonedas dentro del sistema financiero ruso.

Durante su comparecencia ante la cámara baja de la Asamblea Federal de Rusia, Duma Estatal, Nabiúllina dijo que las reservas de oro y monedas extranjeras del país aumentaron el año pasado de USD 430 mil millones a 469 mil millones.

“Gracias a la disciplina financierla nuestras reservas alcanzaron USD 491 mil millones a partir del 1 de mayo. Nos hemos acercado a nuestro objetivo de 500 mil millones. Este nivel es satisfactorio y podría abarcar los riesgos exteriores”, añadió Nabiullina.

“No vemos la posibilidad de que las criptomonedas puedan reemplazar os medios financieros (actuales)”, afirmó la gobernadora.

Anteriormente el ministro de Finanzas ruso, Anton Germanovich Siluanov, había dicho que las criptomonedas debían adquirirse y usarse bajo el control del Estado.

Con todo esto se da a demostrar que es necesario que sea regido por protocolos y leyes, para que no pueda afectar la economía, y eso a todo el mundo le preocupa.

[cutesgirl]

There are several reasons why any decentralized cryptocurrency cannot become a world currency. States and their banks need certain guarantees that the means of payment used will not depreciate sharply. A decentralized cryptocurrency, including bitcoin, just can not give any guarantee to participants in financial relations. For any state, bitcoin is alien, not backed by the authority and obligations of any state. Well, an important role is played by large price volatility and very low possible state control over financial flows in cryptocurrency.

Not good respond from country with bitcoin become legal currency I think why bitcoin con not become global currency for the future, when many country have legal using bitcoin as currency I think bitcoin will be better become global currency payment. I think weakness of bitcoin become global currency with take long term for sending and receiving payment.

[Bim abk]

There are several reasons why any decentralized cryptocurrency cannot become a world currency. States and their banks need certain guarantees that the means of payment used will not depreciate sharply. A decentralized cryptocurrency, including bitcoin, just can not give any guarantee to participants in financial relations. For any state, bitcoin is alien, not backed by the authority and obligations of any state. Well, an important role is played by large price volatility and very low possible state control over financial flows in cryptocurrency.

Not good respond from country with bitcoin become legal currency I think why bitcoin con not become global currency for the future, when many country have legal using bitcoin as currency I think bitcoin will be better become global currency payment. I think weakness of bitcoin become global currency with take long term for sending and receiving payment.

I think bitcoin will be difficult to legalize as a global currency, high inflation makes people think about that coupled with a sizable transaction fee. I think bitcoin remains a suitable asset for the global market

[ðºÞæ]

There are several reasons why any decentralized cryptocurrency cannot become a world currency. States and their banks need certain guarantees that the means of payment used will not depreciate sharply. A decentralized cryptocurrency, including bitcoin, just can not give any guarantee to participants in financial relations. For any state, bitcoin is alien, not backed by the authority and obligations of any state. Well, an important role is played by large price volatility and very low possible state control over financial flows in cryptocurrency.

Not good respond from country with bitcoin become legal currency I think why bitcoin con not become global currency for the future, when many country have legal using bitcoin as currency I think bitcoin will be better become global currency payment. I think weakness of bitcoin become global currency with take long term for sending and receiving payment.

I think bitcoin will be difficult to legalize as a global currency, high inflation makes people think about that coupled with a sizable transaction fee. I think bitcoin remains a suitable asset for the global market

What?, high inflation, Bitcoin does not inflate.
https://bitcointalk.org/index.php?topic=5197106.msg53006960#msg53006960

[samcun]

my opinion is that Bitcoin has no effect on a country and is unstable too so bitcoin cannot become a global currency. therefore the government must pass laws that can regulate bitcoin from all possibilities or crimes, such as money laundering, theft of bitcoin and others.

[hulla]

There are several reasons why any decentralized cryptocurrency cannot become a world currency. States and their banks need certain guarantees that the means of payment used will not depreciate sharply. A decentralized cryptocurrency, including bitcoin, just can not give any guarantee to participants in financial relations. For any state, bitcoin is alien, not backed by the authority and obligations of any state. Well, an important role is played by large price volatility and very low possible state control over financial flows in cryptocurrency.

Not good respond from country with bitcoin become legal currency I think why bitcoin con not become global currency for the future, when many country have legal using bitcoin as currency I think bitcoin will be better become global currency payment. I think weakness of bitcoin become global currency with take long term for sending and receiving payment.

You guys are missing something. Bitcoin was not implemented to be global currency but to be the perfect alternative to save people from world economic break down and make peoples financially ok.
With that been said, no crypto or fiat currency will be use as global currency because the rules and regulations of every countries are not the same.

[suzanne5223]

my opinion is that Bitcoin has no effect on a country and is unstable too so bitcoin cannot become a global currency. therefore the government must pass laws that can regulate bitcoin from all possibilities or crimes, such as money laundering, theft of bitcoin and others.

If you people believes the decentralization and volatility in nature of bitcoin was the reason bitcoin can't be a global currency you are wrong. I believe that the Libra coin not been supported by the governments and the institutions despite it was said to be centralized and have fast transaction confirmation should be enough understand that I'm right with what I just said.

[Micerker]

I don't think this is a true conclusion
the forum is 10 year-old by today
bitcoin is the same age. quite a long time. and now what it can do? prety much huh, transfer without boder, and quite fast too.
to become a global currency, must take some time but I have faith on that.

[GideonGono]

There are several reasons why any decentralized cryptocurrency cannot become a world currency. States and their banks need certain guarantees that the means of payment used will not depreciate sharply. A decentralized cryptocurrency, including bitcoin, just can not give any guarantee to participants in financial relations. For any state, bitcoin is alien, not backed by the authority and obligations of any state. Well, an important role is played by large price volatility and very low possible state control over financial flows in cryptocurrency.

Not good respond from country with bitcoin become legal currency I think why bitcoin con not become global currency for the future, when many country have legal using bitcoin as currency I think bitcoin will be better become global currency payment. I think weakness of bitcoin become global currency with take long term for sending and receiving payment.

You guys are missing something. Bitcoin was not implemented to be global currency but to be the perfect alternative to save people from world economic break down and make peoples financially ok.
With that been said, no crypto or fiat currency will be use as global currency because the rules and regulations of every countries are not the same.

Point taken. But in a sense Bitcoin is a global currency because anyone in any part of the world can use it although it is not legalized to some nor can be used in daily life more often than fiat. Though I find it convenient to do transactions that aren't local or within the country that I belong since it is much easier being peer to peer as what the Bitcoin is made by Satoshi Nakamoto. Mass adoption might come though I highly doubt that a single currency that would become the global currency that is accepted throughout the world would happen because of different set of laws and regulations that each country has and the fact that their monetary system is the manifestation of their sovereignty.

[Ayiranorea]

my opinion is that Bitcoin has no effect on a country and is unstable too so bitcoin cannot become a global currency. therefore the government must pass laws that can regulate bitcoin from all possibilities or crimes, such as money laundering, theft of bitcoin and others.

If you people believes the decentralization and volatility in nature of bitcoin was the reason bitcoin can't be a global currency you are wrong. I believe that the Libra coin not been supported by the governments and the institutions despite it was said to be centralized and have fast transaction confirmation should be enough understand that I'm right with what I just said.

Volatility and decentralization are the two important factors that make bitcoin more valuable. This isn't understood by majority of the users, if this goes centralized it'll be same as the currencies that undergo inflation. Here we have got the limitations that gives value with regards to the need. So it has the complete setup to be a global currency, but in real life implementation it takes time. Maybe after few generations this will happen.

[suzanne5223]

my opinion is that Bitcoin has no effect on a country and is unstable too so bitcoin cannot become a global currency. therefore the government must pass laws that can regulate bitcoin from all possibilities or crimes, such as money laundering, theft of bitcoin and others.

If you people believes the decentralization and volatility in nature of bitcoin was the reason bitcoin can't be a global currency you are wrong. I believe that the Libra coin not been supported by the governments and the institutions despite it was said to be centralized and have fast transaction confirmation should be enough understand that I'm right with what I just said.

Volatility and decentralization are the two important factors that make bitcoin more valuable. This isn't understood by majority of the users, if this goes centralized it'll be same as the currencies that undergo inflation. Here we have got the limitations that gives value with regards to the need. So it has the complete setup to be a global currency, but in real life implementation it takes time. Maybe after few generations this will happen.

I think the reason why some people don't see the volatility and decentralization of bitcoin as what make bitcoin more valuable is because their expectation towards Bitcoin is very high and they see bitcoin as a quick to rich scheme while the ignore the logical truth behind it creation.

[Maotezi]

Not yet, it needs to reach even more consumer confidence and better showing it to other users. it takes time for something like that to happen, but it will surely happen, maybe not like bitcoin, but cryptocurrency is the money of the future.

[Google+]

Not yet, it needs to reach even more consumer confidence and better showing it to other users. it takes time for something like that to happen, but it will surely happen, maybe not like bitcoin, but cryptocurrency is the money of the future.

if you say there are less consumers, I think there are already very many consumers and demand is always increasing, but the problem is still a clear regulation about the use of bitcoin in every country, when many countries have received bitcoin payments and many transactions have used bitcoin it will be very easy to make bitcoin a global currency.

[hulla]

There are several reasons why any decentralized cryptocurrency cannot become a world currency. States and their banks need certain guarantees that the means of payment used will not depreciate sharply. A decentralized cryptocurrency, including bitcoin, just can not give any guarantee to participants in financial relations. For any state, bitcoin is alien, not backed by the authority and obligations of any state. Well, an important role is played by large price volatility and very low possible state control over financial flows in cryptocurrency.

Not good respond from country with bitcoin become legal currency I think why bitcoin con not become global currency for the future, when many country have legal using bitcoin as currency I think bitcoin will be better become global currency payment. I think weakness of bitcoin become global currency with take long term for sending and receiving payment.

You guys are missing something. Bitcoin was not implemented to be global currency but to be the perfect alternative to save people from world economic break down and make peoples financially ok.
With that been said, no crypto or fiat currency will be use as global currency because the rules and regulations of every countries are not the same.

Point taken. But in a sense Bitcoin is a global currency because anyone in any part of the world can use it although it is not legalized to some nor can be used in daily life more often than fiat. Though I find it convenient to do transactions that aren't local or within the country that I belong since it is much easier being peer to peer as what the Bitcoin is made by Satoshi Nakamoto. Mass adoption might come though I highly doubt that a single currency that would become the global currency that is accepted throughout the world would happen because of different set of laws and regulations that each country has and the fact that their monetary system is the manifestation of their sovereignty.

Glas you understand my point of view and some people in the crypto sphere believe the correction which bitcoin platform need in terms of transaction span and decentralization are what hinder from being a global currency. Meanwhile, if that how it works some of the altcoin which had almost instant transaction with lower feel than bitcoin would take away the number 1 position from bitcoin.
Nevertheless, you're wrong when said bitcoin cannot be use in daily life activities because we have crypto credit card which make people spend their bitcoin anytime anyday.

[enwi]

I think bitcoin really can't become a global currency because bitcoin has a high risk with unstable prices and if the economy uses bitcoin there will be chaos due to unstable prices

[minersday]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

What is your definition of a global currency? Because to me, global currency presents a currency that can be easily used in any country you find yourself without any difficulties. Personally, I see Bitcoin and other cryptocurrencies as global currencies since I can easily trade my bitcoin or cryptocurrencies for physical fiats in any part of the world.  Any where you go in the world, there are institutions and organizations that will trade their fiat currencies for cryptocurrencies. Once there is internet connections all around the world, bitcoin and cryptocurrencies in general are global currencies.

[veleten]

I think this has been discussed many times already
there are many reasons , but the most important ones are:
1. terrible speed of transactions, bitcoin network cannot compete with Visa nad Mastercard etc. its 1000x times less operations per second , unfortunately
Lightnng network is here to facilitate the things , but it is far from being the solution bitcoin needs to challenge payment systems
2. global central banks simply will not allow some decentralized currency to prosper
they didn't set  the network of central banks around the globe for some unknown upstart to get a share of their pie
3. it is too volatile , the rules are not set and the markets are in the wild west period
you would not want to que , lets say to buy a bottle of milk , only to realize you haveto pay for it 20% more than an hour ago
4.every country has its own regulations and they won't agree on how to treat cryptocurrencies
opinions differ as in ban or legalize completely
there are many more , but these , IMHO are the most important ones

[felicialee]

If every Bitcoin ID can be traced to a specific individual, that is, the owner of Bitcoin. Bitcoin loses the essential value of cryptocurrency. If bitcoin is popular, national regulation will be very clear about everyone's bitcoin ID. Every transaction of it will be tracked. https://www.kindpng.com/imgv/JTbmmw_bitcoin-png-image-transparent-background-bitcoins-png-png/

[akirasendo17]

What are you trying to say about bitcoin cannot become a global currency?
at the moment bitcoin is slowly making its way to be a global currency infact there are top
company who is accepting bitcoin as payments, there are also banks that is using and have bitcoin atm's
that are being use by people who already use bitcoin as payment, here in the philippines , one of the banks that
is already have atm is Unionbank, there it has atm machine, in a company i know you are familliar with microsoft
they are accepting bitcoin as payments as of this moment , i don't know what you are trying to explain

[ufaiz50]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency.

Speaking of tracking, we can trace it only by IP, that's if you have important authority. I think you need to check the words of the experts, that cryptocurrency is very risky, this is more to volatility. Aas a currency, I'm sure experts think about how volatile values can be very fast and change. This shows how cryptocurrency often moves unexpectedly, so in terms of value it is very risky.

Many people use cryptocurrency as a global transaction tool. Because the transaction concerns Peer to peer, as long as both sides accept this. Imagine how each government approves crypto as a global currency. It is very impossible for me, the government wants the country to progress compared to the others, the country's competition makes no sense if you understand it.

[ttcsalam]

Trucking on Bitcoin is on. Now, to launch such a system, all the government has to take the initiative legally. However, it is possible to start the trucking system. This requires long-term technical development need.

[Cryptoshops]

Another reason is a lot of people still do not understand it,  so its not easy to use like fiat money is,  big social media companys like Facebook bringing out its ouwn currency will help and maybe sometime in the future people will understand and use it more like a currency rather than a trading commodity.

[Firecold4]

Bitcoin is a currency that prioritizes user confidentiality so transactions that are prohibited by the state can run initially. Bitcoin is used to buy drugs, firearms and pay for assassinations on the deepweb so it will be very difficult to change the system from confidentiality to open

[samcun]

because Bitcoin is unstable, that's why the government has announced bitcoin as an illegal digital currency. I consider the government to ban it because bitcoin has too many negative sides rather than the positive side, therefore the government bans crypto or Bitcoin, because bitcoin is considered illegal and can endanger a country.

[Prateek_sharma]

Because of decentralization and anonymous.. one day bitcoin will be world reserve currency.

[Palider]

This is hard to do especially since we can easily create a new bitcoin address, Like in Coinbase, Electrum, Coinomi and many more. We also cannot control bitcoin because it is anonymous and we have no idea who actually created bitcoin.

So I think bitcoin will remain decentralized and unstoppable.

[mlmdaily]

BTC is trackable now To register a crypto wallet you should always pass KYC. Well, you can stay away from it but then you won't be able to exchange crypto/fiat.

[Bitcoin ShitList]

Bitcoin transactions using blockchain are difficult to track if not impossible, UK just subscribed to the idea of trading cryptocurrency, a lot of other nations do not,its not time yet for bitcoin to become globally acceptable

[southafricadude]

Bitcoin is traceable, and if you are buying on an exchange with KYC, your ID is linked to your bitcoin.
There are ways to get around this, just like there is with USD. Is your ID on a dollar bill?

[YOSHIE]

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise,

It's a silly joke, it makes no sense.
No need to make Bitcoin as a global currency, it will make the price of bitcoin equivalent to the value of currencies in general, such as the dollar, eur etc.
where there is a currency in this world can reach $ 10,000 - $ 20.000, ridiculous.
I prefer as it is today, Bitcoin is valued with a very high and fantastic sale value, much higher with the price of gold.
Your mind is a bit chaotic and confusing, talk about IDs, tracking, etc.
Give ideas that make us able to have fun with Bitcoin now.
For example: https://bitcointalk.org/index.php?topic=5198754.0

[ampu]

Bitcoin is a global currency.  Bitcoin is accepted in developing countries.  Authorities fear bad people use Bitcoin to illegally transfer money between countries.  But if there is an illegal transfer, it is their money and they are entitled.  Authorities must investigate and not blame Bitcoin.
The problem with Bitcoin is that so many people want to speculate on Bitcoin and this makes the risk of manipulating Bitcoin value very large.  The number of Bitcoin remaining in the world is very small and the governments of their countries are not interested in Bitcoin mining and owning them because they have come later in this race.  They will find a way to create their own crypto.

[TRONTON]

bitcoin is growing fast on a decentralized path, tracking systems can be seen in transaction hashes. But for ID, not everyone wants it, especially whales, here there is something interesting related to economic freedom.

if bitcoin is included in a centralized system, making it adopted faster, but its value will continue to be suppressed by various policies that will never be higher than fiat, this will make bitcoin end up as a river rock. BTC will become a global currency in its own way.

[Nolimitz84]

Bitcoin is traceable, and if you are buying on an exchange with KYC, your ID is linked to your bitcoin.
There are ways to get around this, just like there is with USD. Is your ID on a dollar bill?

Yes but there are decentralized exchanges in which KYC is not needed.At this stage of the formation of cryptocurrencies and bitcoin in particular, it is very difficult to determine the owner of bitcoin.

[Samsungs10]

Bitcoin is a global currency. Bitcoin is accepted in developing countries, the amount of Bitcoin left in the world is very small and the governments of their countries are not interested in mining Bitcoin and own it because they have come later in this race.

[ohyeahhaha122]

I think what you said is only a part, bitcoin is also constrained by the development of organizations that can be affected when bitcoin becomes popular in the world like banks, ... yeah as you think I am think so, only need to remove the disadvantages of cryptocurrencies, then it can develop

[LUCKMCFLY]

~snip~

All the time there will be multiple ways to blame Bitcoin for money laundering, crimes, many bad things, but we must start that all crimes against humanity have been planned and managed with FIAT money.

The adoption of Bitcoin is a fact, it is starting with more force in countries with acute financial crises, with high inflation and with a high content of great need, the demand that is being managed is impressive, and more now that the price is high volatility, many investors take advantage of FUD to buy cheap, weak hands sell, negative news, that is, the market moves in a very fast way, movements are much faster than in the Stock Market, this is a great indication of adoption and new players in the market.

[k@suy]

I think what you said is only a part, bitcoin is also constrained by the development of organizations that can be affected when bitcoin becomes popular in the world like banks, ... yeah as you think I am think so, only need to remove the disadvantages of cryptocurrencies, then it can develop

Yes. Many more reasons why bitcoin still not accepted as global currency, I think in order for it to accept as global currency is, when it has a physical coin and it is regulated in a country or in government. Also, many crimes related to bitcoin created a bad image to it.

[Savemore]

~snip~

All the time there will be multiple ways to blame Bitcoin for money laundering, crimes, many bad things, but we must start that all crimes against humanity have been planned and managed with FIAT money.

The adoption of Bitcoin is a fact, it is starting with more force in countries with acute financial crises, with high inflation and with a high content of great need, the demand that is being managed is impressive, and more now that the price is high volatility, many investors take advantage of FUD to buy cheap, weak hands sell, negative news, that is, the market moves in a very fast way, movements are much faster than in the Stock Market, this is a great indication of adoption and new players in the market.

Bitcoin is better than fit money in terms of transaction but there are also disadvantages of mass adoption. Right now, the senate of our government are talking about the money laundering that keep increasing because of the regulation of cryptocurrencies.

[DreamStage]

At current state it can not become a global currency due to illegal activities as some of the ones you described.
Another reason is due to political money countrol by the governments including taxes.

If everything would have an id stick to it it wouldn't be cryptocurrency anymore but other "thing".
Cryptocurrencies are anonymous therefore you can't link it an id and that's it.

Sure there could be mandatory regulation that would incentivate it's global usage but overall and currently it's impossible.

[Daffadile]

Linking an ID to a wallet is insane. What more must the government want?

Bitcoin is already a global currency and can be used in many places all over the world.

At current state it can not become a global currency due to illegal activities as some of the ones you described.
Another reason is due to political money countrol by the governments including taxes.

If everything would have an id stick to it it wouldn't be cryptocurrency anymore but other "thing".
Cryptocurrencies are anonymous therefore you can't link it an id and that's it.

Sure there could be mandatory regulation that would incentivate it's global usage but overall and currently it's impossible.

Crap man. What illegal activities? It is the governments that want to remain in power like some sort of monarch and us peasants must use their fiat. The tax thing is another story but it has nothing to do with the government but they still want their cut.

[Yamifoud]

~snip~

All the time there will be multiple ways to blame Bitcoin for money laundering, crimes, many bad things, but we must start that all crimes against humanity have been planned and managed with FIAT money.

We haven't blame Bitcoin for these evil doings cause it has been existed before then. Anyway, we can't deny that they are prefered to use crypto over fiat because of fast and easy transfer, and the being in anonymous.

Back then,
There are a lot of reasons why Bitcoin can't be easy becoming a global currency one is that, REGULATION. People could feel they will be secured when they are protected by the government. Regardless of its volatility, business owners need assurance as well cause they are afraid any time of the day they will lose their money.

[AjithBtc]

~snip~

All the time there will be multiple ways to blame Bitcoin for money laundering, crimes, many bad things, but we must start that all crimes against humanity have been planned and managed with FIAT money.

We haven't blame Bitcoin for these evil doings cause it has been existed before then. Anyway, we can't deny that they are prefered to use crypto over fiat because of fast and easy transfer, and the being in anonymous.

Back then,
There are a lot of reasons why Bitcoin can't be easy becoming a global currency one is that, REGULATION. People could feel they will be secured when they are protected by the government. Regardless of its volatility, business owners need assurance as well cause they are afraid any time of the day they will lose their money.

Most important is the regulations, even after years of its service all around in different sectors there is misunderstanding among the people that bitcoin and other cryptocurrencies were meant for gambling and other illegal activities. This perspective needs to change, and to experience such a change it takes time. In some means it is perfectly a global currency, because it is the one that can be converted to any of the fiat form as required.

[Excell110]

Well, I think you have a valid point, there must be a means of ensuring accountability with Bitcoin, or else it will just end up being used for crimes because of its unaccountability.

[LbtalkL]

Buddy these tracking and id's you have mention, don't you know that one of bitcoin's features is anonymity? I know these bad actors, fraud, scammers, money laundering really exist and it is the platforms or companies duty to implement kyc to avoid these incident.

[odolvlobo]

Well, I think you have a valid point, there must be a means of ensuring accountability with Bitcoin, or else it will just end up being used for crimes because of its unaccountability.

Cars, shoes, email and phones are all being used for crimes. Should we ensure accountability of those, also?

[Kambal2000]

I think Bitcoin will never be a global currency, because Bitcoin is a digital currency for investment means. But fore whether bitcoins are used for global currency or not. I don't think it will. Because Bitcoin's price soared.

That's what is happening now, Bitcoin has been part of investment scheme of people, almost everyone are holding it or cashing out but they don't do payment system which is the main goal for crypto, but it is fine as Bitcoin is like a precious gem 'gold' which is worth investing and holding, me too, if I do have spare money, I will just hold my Bitcoin and won't use it for now.

[Wintersoldier]

I think Bitcoin will never be a global currency, because Bitcoin is a digital currency for investment means. But fore whether bitcoins are used for global currency or not. I don't think it will. Because Bitcoin's price soared.

That's what is happening now, Bitcoin has been part of investment scheme of people, almost everyone are holding it or cashing out but they don't do payment system which is the main goal for crypto, but it is fine as Bitcoin is like a precious gem 'gold' which is worth investing and holding, me too, if I do have spare money, I will just hold my Bitcoin and won't use it for now.

In the first place how could we define a global currency? Does it mean that we should use that particular cryptocurrency in all of the transactions that we have over the network? Because in my perception, the main concern is to use bitcoin over the whole world, then it can already be classified as a global currency, it doesn't need to be implemented at all of the transactions that we have. In this case, we can utilize bitcoin then utilize altcoin as well to save transaction fees mostly the reason why we don't use bitcoin every time.

[Twinkledoe]

I think Bitcoin will never be a global currency, because Bitcoin is a digital currency for investment means. But fore whether bitcoins are used for global currency or not. I don't think it will. Because Bitcoin's price soared.

That's what is happening now, Bitcoin has been part of investment scheme of people, almost everyone are holding it or cashing out but they don't do payment system which is the main goal for crypto, but it is fine as Bitcoin is like a precious gem 'gold' which is worth investing and holding, me too, if I do have spare money, I will just hold my Bitcoin and won't use it for now.

This kind of perception is one of the reasons why bitcoin is still in the bottleneck of massive adoption. And I think, we are all guilty of that. As much as possible, we want to hoard bitcoin for as long as we can. Because of the hope that someday it will be valuable, we don't want it to spend for unnecessary things.

[veleten]

I think Bitcoin will never be a global currency, because Bitcoin is a digital currency for investment means. But fore whether bitcoins are used for global currency or not. I don't think it will. Because Bitcoin's price soared.

That's what is happening now, Bitcoin has been part of investment scheme of people, almost everyone are holding it or cashing out but they don't do payment system which is the main goal for crypto, but it is fine as Bitcoin is like a precious gem 'gold' which is worth investing and holding, me too, if I do have spare money, I will just hold my Bitcoin and won't use it for now.

This kind of perception is one of the reasons why bitcoin is still in the bottleneck of massive adoption. And I think, we are all guilty of that. As much as possible, we want to hoard bitcoin for as long as we can. Because of the hope that someday it will be valuable, we don't want it to spend for unnecessary things.

why are we to blame if there are not enough retailers or traders that accept it?
I understand your point , the problem of not spending because of growth expectation is here, but its a double edged sword
we do not spend not only because we think it will be more valuable , but because you can't go to  a supermarket next door and pay with bitcoins
or go to a pub and buy a pint with bitcoin and the legal status of bitcoin is not clear in so many countries that is hard to expect to many medium and small enterpreneurs to accept it

[Kocret02]

there must be a special system for bitcoin to be able to meet the requirements of becoming a global currency. now I think bitcoin is more suitable as a money companion, not as a global currency. because seen even now bitcoin still has popularity even if only as a companion for money

[Jammermob]

Because bitcoin will not be allowed to do this, it is not profitable for the state, no one wants to depend on another, everyone wants their own currencies.

[Oneandpure]

Bitcoin still can't become global currency because many country dislike with bitcoin as payment currency, they will banned bitcoin and ask to other country for stopping using bitcoin as investment assets, many countries scare when bitcoin become popular many people not care for saving money in the bank but look interested for investing and hold to convert with bitcoin and altcoin assets.

[zahed]

bitcoin will never be a global currency even though every wallet must have an identity. Why? because the value of bitcoin is volatile so it is not suitable as a currency the bitcoin community believes that bitcoin is a digital asset like gold not as payment.

Bitcoin is still using as a payment in the many countries i believe. There are huge countries adopting Bitcoin as a legal currency. Crypotocurrency is always volatile that's not a big deal. But it will not be as a world payment because many country government banned it to prohibited all of the illegal stuff.

[angrynerd88]

There are couple of reasons still BTC failed to be a global currency,There are many countries still struggling for stable the economy of country and having threat of money laundering and illegal financial activities.

In future if possible for the government to track the crypto transactions then possible to be to legalize the Bitcoin.

[bitvalak]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

Containing an ID in each wallet is the same as centralization where all transactions look detailed.
That is not the right way, it is better to give complete socialization so that people avoid money laundering practices because one of the reasons you refuse bitcoin to become a global currency is about money laundering.

[marcous]

That's not easy, I guess, considering that Bitcoin doesn't have someone's ownership status. where the bitcoin market is also free and can be accessed by everyone in the world. the problem of money laundering itself is a negative thing which basically can be done not only by crypto. actually it depends on each person's perspective, because there are still many people in the world using Bitcoin / crypto to make money and support their daily needs. when talking about altcoin / project, no one can be trusted to do that as well. Maybe in the future blockchain will be more advance.

[Cacingkemi]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

most people accuse bitcoin of being very vulnerable to being used for money laundering, because it can be easily used by people who are not responsible for hiding the assets they have. but this is a false thought because in reality money laundering was in place before Bitcoin was issued, and bitcoin was created not for the purpose of such things, but to facilitate all transactions at a fairly low cost.

why can't bitcoin be a global currency?
because basically bitcoin is a technology that has a very valuable value like a currency but cannot be used as a transaction tool worldwide because its existence cannot be formalized by most countries.

[aomakun]

Bitcoin still can't become global currency because many country dislike with bitcoin as payment currency, they will banned bitcoin and ask to other country for stopping using bitcoin as investment assets, many countries scare when bitcoin become popular many people not care for saving money in the bank but look interested for investing and hold to convert with bitcoin and altcoin assets.

licensing regulations that have not been comprehensive in this world into bitcoin cannot be used as a major global transaction, and many other factors make bitcoin unable to be used en masse for transactions. and large transaction costs make it rarely used for normal transactions, and I think that bitcoin is more suitable for investment and blockchain technology will probably take up more space in the world

[Aikidoka]

Probably it can be a global currency in the future, as we know now there's not a lot of people who use cryptocurrencies around the world. I meant, we need more time to see bitcoin shining in the future. It's just a matter of time. I'm kinda sure that bitcoin will have a bright future and probably we'll see it as a global currency in the future, it's going to be so good for bitcoin and even for other altcoins

[Wintersoldier]

Probably it can be a global currency in the future, as we know now there's not a lot of people who use cryptocurrencies around the world. I meant, we need more time to see bitcoin shining in the future. It's just a matter of time. I'm kinda sure that bitcoin will have a bright future and probably we'll see it as a global currency in the future, it's going to be so good for bitcoin and even for other altcoins

Not really, but you are correct since it really takes time for a project or cryptocurrency to achieve some of its goals, but bitcoin needs to be flexible enough to adjust to the market needs especially in lowering its transaction fees where I find not gonna happen. If people will learn the essence that bitcoin is used for huge amount of money transaction, that would be the time we could consider bitcoin could really be a global currency, if not, then people will find altcoins quite better compared to bitcoin in terms of the transaction (efficiency).

[AssociatesBumble579]

I don’t think that would be possible to include IDs to identify the sender or receiver info. Global currency means it’s should be accepted globally. We are yet to achieve it. Also, you can’t prevent the laundering by creating identity of any currencies. If it works, then “ laundering” word would not get such popularity. Where as, other than crypto, all fiats already are been being used laundering.

[hulla]

I don’t think that would be possible to include IDs to identify the sender or receiver info. Global currency means it’s should be accepted globally. We are yet to achieve it. Also, you can’t prevent the laundering by creating identity of any currencies. If it works, then “ laundering” word would not get such popularity. Where as, other than crypto, all fiats already are been being used laundering.

I also don't believe the inclusion of Bitcoin sender or receiver ID will happen and the government even understand that they can't achieve such regulation which is the reason why they make almost every crypto to fiat exchange site Io offer KYC/ AML. But purpose of Bitcoin was not to be global currency but liberation from economic break down for those who choose to use it.

[Swordsoffreedom]

US Dollars are used for money laundering even more than Bitcoin, but they are a global currency regardless. Cash is even less trackable than Bitcoin, gold even less because you can melt it.
There are other reasons why Bitcoin will not beat USD for another decade probably. It's less convenient for everyday shopping, it requires some technical knowledge from users and its value in not stable enough so people are afraid to store their wealth in Bitcoins. But all that could change in the future.

[Oneandpure]

Bitcoin still can't become global currency because many country dislike with bitcoin as payment currency, they will banned bitcoin and ask to other country for stopping using bitcoin as investment assets, many countries scare when bitcoin become popular many people not care for saving money in the bank but look interested for investing and hold to convert with bitcoin and altcoin assets.

licensing regulations that have not been comprehensive in this world into bitcoin cannot be used as a major global transaction, and many other factors make bitcoin unable to be used en masse for transactions. and large transaction costs make it rarely used for normal transactions, and I think that bitcoin is more suitable for investment and blockchain technology will probably take up more space in the world

Licensing regulation bitcoin is not important when population of using bitcoin in one country still less, so far almost bigger popular bitcoin in some country but other side still under 0.5% population there using bitcoin impossible bitcoin become global currency payment in one country, government looking for how many their people have adopted and know whit bitcoin before legal using crypto as payment transaction.

[jasper.ethan77]

It's decentralized, and not supported by the GOVT and BANKS.

it won't get world all-inclusive, yet millennials are getting it up like hotcakes.

Besides divider st, are currently intrigued.

Regardless of what you think or hear, this isn't GOING AWAY…

[Aikidoka]

in my opinion bicoin has now become a global currency, the proof for the whole world is the same bitcoin price ..!

I don't think that bitcoin become yet a global currency as we all know that not all the countries legalized bitcoin, so we can't just say it's already a global currency I guess. However, there's a lot of people around the world didn't even know about bitcoin, I think it's gonna take a while like from 1 to 10 years to bitcoin will be very known in the world and probably it can be officially a global currency at that time.

[migws]

in my opinion bicoin has now become a global currency, the proof for the whole world is the same bitcoin price ..!

I don't think that bitcoin become yet a global currency as we all know that not all the countries legalized bitcoin, so we can't just say it's already a global currency I guess. However, there's a lot of people around the world didn't even know about bitcoin, I think it's gonna take a while like from 1 to 10 years to bitcoin will be very known in the world and probably it can be officially a global currency at that time.

It is unlikely Bitcoin will be fully legalized even after 10 years. Bitcoin is more likely to be a global independent asset for people who want to abandon a centralized financial system. Governments of a lot of states don't want to legalize Bitcoin because it will destroy corruption and a centralized management system, equivalent to a loss of power

[carlzec]

I think creating a tracking system for Bitcoin is a very bad idea. It doesn't conform to Bitcoin's emergence philosophy. People headed here to escape the current economy. If exchangeler comes up with more hacking news. Decentralized systems may be more popular. I don't like giving my credentials.

[TRONTON]

It is unlikely Bitcoin will be fully legalized even after 10 years. Bitcoin is more likely to be a global independent asset for people who want to abandon a centralized financial system. Governments of a lot of states don't want to legalize Bitcoin because it will destroy corruption and a centralized management system, equivalent to a loss of power

I still think the government is trying hard to have btc more than half the amount available through institutions or even with stable coin conversions to launch. they will be able to control it afterwards and can be made into a kind of reserve because of limitations and scarcity in the future.

in this way they will be able to control and then be able to create a new global digital economic order. This is only a rough analysis because in the global economy there must be a dominant party outperforming the others, legalization is only a matter of time.

[marcous]

Probably it can be a global currency in the future, as we know now there's not a lot of people who use cryptocurrencies around the world. I meant, we need more time to see bitcoin shining in the future. It's just a matter of time. I'm kinda sure that bitcoin will have a bright future and probably we'll see it as a global currency in the future, it's going to be so good for bitcoin and even for other altcoins

Not really, but you are correct since it really takes time for a project or cryptocurrency to achieve some of its goals, but bitcoin needs to be flexible enough to adjust to the market needs especially in lowering its transaction fees where I find not gonna happen. If people will learn the essence that bitcoin is used for huge amount of money transaction, that would be the time we could consider bitcoin could really be a global currency, if not, then people will find altcoins quite better compared to bitcoin in terms of the transaction (efficiency).

I think so, this is too far if Bitcoin is made a global currency. Even though that possibility exists. but as we know, transactions using Bitcoin as a payment instrument are still opposed in some countries. Not easy to implement. only, if you look at the development of digital money. Bitcoin has pioneered quite a lot of Unicorn / Fintech companies that issue digital money as payment transactions that have the same value as fiat currencies.

[julius caesar]

I think the main reason is the probability that it can be used to some crime like money laundering. Plus the fact that government doesn't want bitcoin in their country because it may replace fiat money sooner or later. I think it also has a problem in terms of security because it is working all over the internet. Internet is vulnerable to every hackers maybe that is also their reason why they dont want it to become global currency.

[Janation]

in my opinion bicoin has now become a global currency, the proof for the whole world is the same bitcoin price ..!

Same Bitcoin price?

If we will be using USD as the basis with the same exchanges, obviously it will be having the same price but when it comes to other currencies, other exchanges, other countries, there will be a difference. That is why there are some investors that take advantage of that difference, not only in Bitcoin but on other cryptocurrencies as well.

[BeManga]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

in my opinion bitcoin have the large chance to become the global currency
as of now there is no global currency if you will go to some country you need to change your money to their money
but in bitcoin there a lot of place all over the world that already accepting bitcoin
what we are only waiting is the mass adoption where more merchant will start to accept bitcoin

[Bitcoinislife09]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

In my opinion like what it is today I think it is already a global currency in my opinion as we could use it my make transaction all over the world using a decentralized system. For me bitcoin was just made or suitable to be a global currency than just a one country because this country currency needed to be regulated by the government which is I think is impossible in bitcoin since it is a decentralized system and no one owned bitcoin.
As a global currency I think bitcoin will be a and it is already a great example.

[Twentyonepaylots]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

It doesn't necessarily have to become a global currency per se, since as long as borders and countries exist, their respective governments will put up their own currencies, fortifying the ones that are existing if ever, nonetheless, with the current widespread state of bitcoin we can almost say that it is a global currency since anyone who has internet can get a hold of this and some other cryptocurrencies. In the case of having it become a global currency there are much more complicated matters that would need to be settled first before higher-ups consider setting up a global currency.

[WRAOUF]

There are several reasons why any decentralized cryptocurrency cannot become a world currency. States and their banks need certain guarantees that the means of payment used will not depreciate sharply. A decentralized cryptocurrency, including bitcoin, just can not give any guarantee to participants in financial relations. For any state, bitcoin is alien, not backed by the authority and obligations of any state. Well, an important role is played by large price volatility and very low possible state control over financial flows in cryptocurrency.

[TitanGEL]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

It doesn't necessarily have to become a global currency per se, since as long as borders and countries exist, their respective governments will put up their own currencies, fortifying the ones that are existing if ever, nonetheless, with the current widespread state of bitcoin we can almost say that it is a global currency since anyone who has internet can get a hold of this and some other cryptocurrencies. In the case of having it become a global currency there are much more complicated matters that would need to be settled first before higher-ups consider setting up a global currency.

Bitcoin will only become a global currency if most of the governments will accept and legalize it. Regulation is still hot topic globally, there are countries that are favor and there are countries who banned the bitcoin. The decentralized characteristics of the bitcoin is one of the factors why there are government who doesn't want to legalize bitcoin. They are aware that they cannot control the bitcoin because there is no one who backed it.

[riso2015]

Yes, I agree eith this people look up to the stability of their money and Bitcoin might not be able to satisfy it due to the fact that Bitcoin's fluctuation rapidly changing and I think it is not suitable in performing transactions like paying bills which may be one of the possible uses of Bitcoin if it was accepted locally and of course the government would not allow this kind of system that might overpower them.

The stability factor is indeed one of the reasons why Bitcoin cannot become a global currency, In addition, the decentralization factor owned by Bitcoin I think also includes other reasons. We know that Bitcoin is a decentralized system where the Government or other third parties cannot regulate and control Bitcoin.

[bitcoinsocial09]

Yes, I agree eith this people look up to the stability of their money and Bitcoin might not be able to satisfy it due to the fact that Bitcoin's fluctuation rapidly changing and I think it is not suitable in performing transactions like paying bills which may be one of the possible uses of Bitcoin if it was accepted locally and of course the government would not allow this kind of system that might overpower them.

The stability factor is indeed one of the reasons why Bitcoin cannot become a global currency, In addition, the decentralization factor owned by Bitcoin I think also includes other reasons. We know that Bitcoin is a decentralized system where the Government or other third parties cannot regulate and control Bitcoin.

I think the decentralized system of bitcoin could be a big issue here when it comes to being a currency because it cannot be regulated by any government. I think having a global currency is impossible since in different countries we have different standards we cannot buy something that is at the same price in other countries. We are already using bitcoin as a global currency since anyone could use it in the world and send a transaction but just an alternative currency.

[the rise]

There are several reasons why any decentralized cryptocurrency cannot become a world currency. States and their banks need certain guarantees that the means of payment used will not depreciate sharply. A decentralized cryptocurrency, including bitcoin, just can not give any guarantee to participants in financial relations. For any state, bitcoin is alien, not backed by the authority and obligations of any state. Well, an important role is played by large price volatility and very low possible state control over financial flows in cryptocurrency.

I prefer deflation rather than always referring to price depreciation. however, bitcoin will always collide with central system rules because there is no usage algorithm that can be put together. bitcoin will always act as an alternative as a global currency, government anxiety is always focused on controlled fluctuations and guarantees, if so then it is likely to only be regulated as assets with a customized system.

[Latviand]

Well, I think there are still too many reasons why bitcoin or other cryptocurrency still can't be a global currency. One because most of the country even don't want to accept and adopt it, and there are countries that treat usage of crypto as illegal and so many more. But I think laundering can also or safer using fiat currency because as we know crypto is untrackable so if there's an instance that you lend money to someone over crypto they may not pay you on time or will not pay at all so its lot more safer if it's done using fiat currency.

[Bitcoincc]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

People do not want to accept that bitcoin and altcoins are world currencies. People in each country all over the world are holding bitcoin in wallets. Some are evening using it to do daily transaction, especially, countries in Europe.

You said bitcoin transaction can not be tracked. Although, bitcoin transactions can not be canceled but can be tracked or traced.

Bitcoin wallet ID will can not stop money laundering or terrorism financing because all this has been happening before the adoption if bitcoin by Satoshi Nakamoto in 2009.

[Wipeout2097]

There are numerous reasons which are big hurdle in BITCOIN to become a global currency is the decentralize because government unable to control it.Government experienced many cases that BITCOIN is used in money laundering and illegal funding for illegal activities.
Bitcoin is fruitful for stable economy if government find the way to control and track the transactions,Because transactions will generate revenue in form of tax that revenue can be used for further development and infrastructure of the country.

[Linkkoin]

There are numerous reasons which are big hurdle in BITCOIN to become a global currency is the decentralize because government unable to control it.Government experienced many cases that BITCOIN is used in money laundering and illegal funding for illegal activities.
Bitcoin is fruitful for stable economy if government find the way to control and track the transactions,Because transactions will generate revenue in form of tax that revenue can be used for further development and infrastructure of the country.

Unless the USA is the biggest economy and its currency has the status of an international one, there is a very little chance for BTC to replace it. As well, the fiat currencies are way more often used for money laundering and illegal activities. Especially in a physical form.

As well, if it not controlled, country cannot manipulate its own economy in such easy way as simply printing more fiat currency out of thin air, but would need to make serious and unpopular decisions instead. This is why until now, some countries of the Eurozone - like Spain and Greece are not fully recovered from the last economic crisis.

In general, BTC transactions can be tracked, and with current FATF guidelines and direction of new legislation - the general goal is that like with wire bank transfers both sending and receiving party will be fully identifiable.

[Assface16678]

There are numerous reasons which are big hurdle in BITCOIN to become a global currency is the decentralize because government unable to control it.Government experienced many cases that BITCOIN is used in money laundering and illegal funding for illegal activities.
Bitcoin is fruitful for stable economy if government find the way to control and track the transactions,Because transactions will generate revenue in form of tax that revenue can be used for further development and infrastructure of the country.

Bitcoin is one of the most profitable today, and many people already adopted the use of this coin as payment for a different transaction. Now there are a lot of countries that uses the bitcoin and support this, but still, there are few countries does not support bitcoin because of many reasons. The government wants to secure first the transaction like who send the money and where the money came from all of the transaction today must be recorded to avoid some fatal error of money transfer into different funds and also to monitor each transaction, but the governments knowledge about cryptocurrency is not enough to support the use of bitcoin as payment.

[Yatsan]

Because the price of bitcoin is not as stable as the fiat currencies in the world, its price can quickly rise or fall in a short time, which will make the economy unstable if Bitcoin is used as Fiat. And governments cannot control bitcoin and tax it as accurately as possible ... Those are the main reasons why bitcoin is never accepted as a means of payment from governments.

You forgot one which is availability, It is not available to those individual that don't have internet, mobile phone or computer. That is the most basic aspect of, if you can't use it then it will be never be a currency for the world or even one country. Yes! We are in digital era but, not all people are using technology, Fiat will always be our medium of exchange and it will never be replace by a digital currency.

Bitcoin cannot become a world currency for two reasons, Bitcoin is not regulated and so far Bitcoin is not supported by the government.

Well lot of government are supporting bitcoin LOL, a lot of the countries legalize the use of bitcoin.

Proof: https://www.valuewalk.com/2018/01/bitcoins-illegal-russia/

And business related to bitcoin and other cryptocurrency are getting taxed, so I think regarding that it can be regulated as long as your business is registered on your government.

[Asuspawer09]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, no one can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

Surely we could track the transaction of bitcoin as it is recorded in the blockchain. But the identity was still anonymous and they don't know who makes the transactions. Surely that is the reason that is why their are so many scam cases here in cryptocurrency because it is difficult to track this transaction and i think if the money laundering is done globally it will be difficult to go and make a case in the other country.

In my opinion, bitcoin is already a global currency since we could all use it globally as a currency there are ways that we could use to buy bitcoin and then use it as a currency or as a payment. Also, I think the bitcoin could just be a global currency just like what it is these days, but it is just an alternative global currency since a lot of countries have their own fiat money. For me, bitcoin will have a hard time to be the number 1 currency in the world and probably it is not going to happen since there are so many governments around the globe. There could only be possible if there is one government that is going to regulate bitcoin and going to govern all the countries in the world.

[Linkkoin]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

It doesn't necessarily have to become a global currency per se, since as long as borders and countries exist, their respective governments will put up their own currencies, fortifying the ones that are existing if ever, nonetheless, with the current widespread state of bitcoin we can almost say that it is a global currency since anyone who has internet can get a hold of this and some other cryptocurrencies. In the case of having it become a global currency there are much more complicated matters that would need to be settled first before higher-ups consider setting up a global currency.

Anyway, the idea of wallet ID with identifiable owner of it is precisely what authorities are looking forward.

[CarnagexD]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

Setting up a tracking ID for wallets that store bitcoin will defeat bitcoin's purpose of being a decentralised and secure coin. Since anyone who can get a hold of someone's ID can just steal money from them in any case. Bitcoin in itself has the potential to become a globally accepted coin. It just so happens that we don't have the best technology as of yet to support bitcoin. That is why it's currently used as an asset

[Jiyens3]

Hi, Gents,

I think there has to be a way to create a tracking system for bitcoin. Every wallet must contain ids. Otherwise, bitcoin can be always used for money laundering. If you want to launder money, you can find a cash seller everywhere. After bitcoin is bought, noone can prove whose bitcoin it is. I think this is the only think that preventing bitcoin to become a global currency. Do you think it would worth this much if it is trackable. I dont think so. There will be altcoins that work with tracking system and ids. They will become a global currency. Bitcoin? I think never. What do you think?

need more time to make bitcoin as a global cryptocurrency because not all people accept bitcoin. they are thinking that bitcoin is a criminal way so they do not want to use bitcoin so its make difficult for the right now to bitcoin accept as cryptocurrency
if someone want to bitcoin become global cryptocurrency the goverment have to accept bitcoin first.

[Ozero]

Because the price of bitcoin is not as stable as the fiat currencies in the world, its price can quickly rise or fall in a short time, which will make the economy unstable if Bitcoin is used as Fiat. And governments cannot control bitcoin and tax it as accurately as possible ... Those are the main reasons why bitcoin is never accepted as a means of payment from governments.

Bitcoin's high price volatility is just one of many reasons why it cannot be a world currency. For states, this is a foreign, “no man's” currency, for which no state stands. Why should they risk their economy so much? Therefore, now many of them have announced their intention to issue their own national stable coin, which will be used by states instead of bitcoin and other cryptocurrencies.
Most likely, bitcoin and other decentralized cryptocurrencies will mainly be used mainly by citizens.