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pixie85
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March 07, 2020, 09:10:30 PM |
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Not without the whole infrastructure built around it. A billion people won't be able to transact in Bitcoin at the same time without the use of solutions like the lightning network and this is the background that needs to be set up. More nodes, more adoption, more laws.
It is ready because it could be used if countries wanted to adopt it and turn it into a state currency but I don't think they will.
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thisnewcoin
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March 07, 2020, 09:19:20 PM |
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Absolutely not, and the truth is Bitcoin won't get there when the world will use Bitcoin as the primary currency. If you want to think a world without fiat then how can you think a world with the only Bitcoin? Rather I think we should spread the news so Bitcoin can be used as a secondary currency instead of PayPal/Payoneer, not primary which is not possible.
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metenjean
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March 08, 2020, 03:27:45 AM |
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Will be bitcoin become world wide first currency in the world because bitcoin have anything needed by the world, bitcoin could increase economic world and bring more profitable at the future for investor and holder.
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iamsheikhadil
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March 08, 2020, 04:28:02 AM |
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Lol. If people are scared to hold money, why can't they just keep it in bank and go digital  I don't think small risk like golfing money can truly make Bitcoin go over fiat currencies haha  but the moment people understand that fiat currencies are as much dangerous as Corona virus, they would all choose crypto! |
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KrisAlex18
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March 08, 2020, 05:27:05 AM |
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I don't think so, being a standard currency is not simple, and I don't think that bitcoin can bi a standard currency, or even other cryptocurrency because it is volatile, and it would be hard for everyone of us to have that kind of currency if it always changes its price day by day. I think only those currency that has fixed price can only be the world wide currency. Like Pesos, etc. Dollars also changes its price but it won't change day by day, it changes so rare.
Implementing new standard currency will be hard also for some governments in different countries because it will have so much process before it will be implemented world wide.
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TheUltraElite
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March 08, 2020, 06:37:22 AM |
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Trust me in 50 years from now or less there will be no government or organisation controlled currency anymore. At least not any that will be meaningfully valued. Considering the average life expectency of the users accessing this forum, I dont think they are going to here anymore for that long time, I do hope to be proven wrong though.  Rather I think we should spread the news so Bitcoin can be used as a secondary currency instead of PayPal/Payoneer, not primary which is not possible. You mean secondary to fiat. I also feel this because the big companies that run the country are always going to go for fiat and not a crypto based system. Whether we will see future development in crypto and companies accepting crypto for use is a second topic to discuss about. Currently bitcoin should be kept to a trading asset status. If your country allows crypto, use it but also depending on who accepts it and who does not. |
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Sanugarid
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March 08, 2020, 11:00:18 AM |
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Well, we can't really say that bitcoin will have no value at that point. Another thing is that the government will not be accepting this so, despite the fiat's value going down, that just means the conversion of bitcoin to that currencies will be going up. When there is no fiat, then bitcoin will be the only currency, no conversion, no other things just bitcoin and other crypto currencies.
no problem if there is no fiat money, then the comparison will be in the goods, for example if Bitcoin has been recognized as a safe currency then buying coffee or food must have prices according to Bitcoin, 1 coffee = 0.0003 Bitcoin, this is an example This all will be possible if countries will legalize or allow bitcoin transactions in their countries and spread of virus will really be reduced but until then we will face risk for both ends but the things is bitcoin isn't the only paperless currency out there so even if this happens we're not guaranteed that country government will go with bitcoin than digital fiat. This is so far to happen because as of now, we can say that yes there are lots of countries who really accepts the use of cryptocurrency and they have their own technology to use to buy crypto-like ATM machines but to think that crypto is going to be the currency of the world, it can possible to happen but it is really hard to implement because there are still countries that did not accept crypto to use on their country because of their own reasons. Let us say that when all countries allow the bitcoin or crypto to use, it is still hard to adopt it just like that because we are still into the use of traditional currency which is called fiat. Yes, bitcoin is really a good currency because it makes our transaction safe and fast compared to fiat, it is also space-saving because you are holding your money with the use of website or application but there are still disadvantages, but I am believing that developers will make their own technology and innovate the present technology. |
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criza
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March 08, 2020, 01:17:19 PM |
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I think the answer of that lies not on Bitcoin itself but, to the world or in the society because, implementing Bitcoin to be used as a worldwide currency especially when there are still a lot of countries that are not capable for internet and also the complexity of the transactions made in the society are hard because it might cause a lot of side effects for the economic state of a country. For a crypto currency to be implemented in the society it requires further testing and time to understand on how it will be used and maintained for the benefit of all.
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Jateng
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March 08, 2020, 01:38:39 PM |
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Many countries are not yet accept bitcoin as currency. If bitcoin will use for world wide currency it needed to accept first by all of countries. Bitcoin is not yet suitable to use in some countries that don't have access to internet. There prefer to use fiat rather than bitcoin. People don't want to explore what the current technology and don't like to know if this will help them. Bitcoin for now is currency for the people who want to used it.
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Febo
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March 08, 2020, 03:49:47 PM |
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Trust me in 50 years from now or less there will be no government or organisation controlled currency anymore. At least not any that will be meaningfully valued. Considering the average life expectency of the users accessing this forum, I dont think they are going to here anymore for that long time, I do hope to be proven wrong though. But my statement still stand. The ghost of permissionless money is out of the pandora box. No one can put it back anymore. Impossible. They can only struggle some time to not infect them. But that is just temporary. |
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awik p
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March 08, 2020, 04:50:51 PM |
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Many countries are not yet accept bitcoin as currency. If bitcoin will use for world wide currency it needed to accept first by all of countries. Bitcoin is not yet suitable to use in some countries that don't have access to internet. There prefer to use fiat rather than bitcoin. People don't want to explore what the current technology and don't like to know if this will help them. Bitcoin for now is currency for the people who want to used it.
in terms of bitcoin it might already be ready to become a global currency, but in terms of the problems of each country, many are not ready to accept it. Moreover, only a few countries have legalized it. In addition to uneven internet access, many crimes such as money laundering and drug transactions have become considerations |
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klava1983
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March 09, 2020, 12:06:03 AM |
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No, it isn't ready for now. The system itself is immature. A significant part of the world population has no idea about what is it and how it works. As a result, they don't trust a "currency with a value comes from thin air". We want Bitcoin to be accepted, then it needs to be popularized.
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kooboat
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March 09, 2020, 11:11:25 AM |
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With the kind of leadership we are seeing in many parts of the world, I don't see how bitcoin will become a widely accepted payment medium in the short foreseeable future. Most governments across the globe will always resist the use of cryptocurrencies as a main currency for business transactions.
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michellee
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March 09, 2020, 11:58:43 AM |
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No, it isn't ready for now. The system itself is immature. A significant part of the world population has no idea about what is it and how it works. As a result, they don't trust a "currency with a value comes from thin air". We want Bitcoin to be accepted, then it needs to be popularized.
Yes, that is true. Besides that, maybe bitcoin needs to wait for some years to be used by all people. But to be the one currency in all country, I don't think that will happen soon because we need to see the government can accept the existence of bitcoin among the people. We need to be patient for more while we can still spreading the news about bitcoin to our city and we can also teach people how to use bitcoin. With doing this, sooner or later, people will see the benefits of using bitcoin, and they will see that bitcoin can be used as fiat too. |
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coinfinger
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March 09, 2020, 01:03:18 PM |
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There is really no possible way that in 50 years there will be no governments, the world doesn't run around that fast at all even with the huge advancement of technology and maybe we can finally have people on mars actually living there like the ISS.
Governments are based on racial differences and even though we can't really call it racism because everyone is entitled to their own nations, we can't really say it has nothing to do with race neither, nobody wants to live in a one full government world where everyone lives everywhere because some nations are better to live and some nations wants to keep it that way whereas some nations are bad and poor and nobody really wants to live there. So if you make it a global thing that would create a huge chaos.
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imstillthebest
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March 09, 2020, 01:28:34 PM |
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With the kind of leadership we are seeing in many parts of the world, I don't see how bitcoin will become a widely accepted payment medium in the short foreseeable future. Most governments across the globe will always resist the use of cryptocurrencies as a main currency for business transactions.
not true bro . many country are now not against on bitcoin and they are now accept bitcoin with all thier heart . once few countries will also do the same , that will be the time that bitcoin will be honored as an offcial worldwide currency . world wide because all countries are now accepting it and worldwide because there is the same value for btc and the same icon/design not unlike to a local fiat currency that cant be a 1 world currency due to thier different value and characteristics . |
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Baoo
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March 09, 2020, 03:32:51 PM |
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Not yet, the current situation of Bitcoin is really complicated, due too many governments cannot accept the digital currencies and remember the world economy is based on FIAT. In addition to that, I thought that Corona virus did not have any affect on Bitcoin but to be honest I changed my mind , now the dip is still continued beause of the negative impact of Coronavirus and unfortunately, we have no idea when this crisis is going to end.
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kawetsriyanto
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March 09, 2020, 11:58:01 PM |
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I ask this because of the corona virus where people are too scared to hold money.
Are you sure that this can make Fiat money disappear or no longer desired? If we look at the current situation, it may be possible. But I'm pretty sure that we will find out the solution to deal with the problem. At least, people can clean their hands with hand sanitizers. So, Fiat money isn't entirely dangerous to hold in a proper way. Is Bitcoin ready for world wide 1 currency?
I'm not sure if it is ready. There are still some problems to deal with Bitcoin. Not all countries in the world have adequate infrastructures to support Bitcoin as the main currency. And the Bitcoin value is also very volatile to use. These must be fixed first to consider Bitcoin as the worldwide 1 currency. |
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Blackdeath
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March 11, 2020, 04:13:41 PM |
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In my own personal opinion, it will be difficult for bitcoin to become the main currency. To be honest, not everybody in this world has the ability to hold and have their own cryptocurrency because not everyone has the enough money to buy smartphones or computer, so they could uaed cryptocurrency for making transactions.
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Barbut
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March 11, 2020, 06:20:15 PM |
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Bitcoin is not ready yet, but DigiByte is ready for that. I think the number 1 currency is not a future of Bitcoin with just 21 million coins, minus the ones that are lost. We will need some superfast crypto, that is able to handle a lot of transactions in any given time, DigiByte is already doing that if you didn't know, and it's one of the oldest Blockchain projects out there, with awesome community!
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