Sirait
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January 26, 2021, 03:38:45 PM |
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Can Bitcoin ever be use as other country currency and it will still maintain it decentralized digital currency?
^ a country will never want to make Bitcoin the currency of their country, there is no way they can remove their previous currency and patented Bitcoin as the currency of their country. Bitcoin is the currency of everyone, not belonging to a country or a single satoshi Nakamoto.
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Ucy
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January 26, 2021, 04:36:49 PM |
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It needs to remain a decentralized currency. That's part of what makes it unique. I prefer an economy that shares thesame ideals built around Bitcoin and subjected to its decentralization-friendly rules, than allowing centralized entities/businesses built around it, influence and centralized it. It's basically corrupted once it's centralized and controlled by people with contrary agenda. Your kind of question is one of reasons I prefer an autonomous Bitcoin Network free from the control of "external forces" with contrary agenda
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Ozero
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January 26, 2021, 05:41:39 PM |
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I hope that soon we will be able to use bitcoin as an international currency.
Now anyone can use cryptocurrency for transactions to any other country in any corner of our planet where there is Internet. However, at the state level, cryptocurrency, including bitcoin, will certainly not be used as a currency to service international treaties. States will already have their digitized central bank currencies to do this, or they will create regional stablecoins. Cryptocurrency is not suitable for this, if only due to the fact that it has very high price volatility.
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Youghoor
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January 26, 2021, 09:28:45 PM |
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Can Bitcoin ever be use as other country currency and it will still maintain it decentralized digital currency?
No government will never decide or want to adapt the use of a decentralized money, whiles they know perfectly well that they will not have control over the use and the amount of it in circulation. Bitcoin is better as a universal currency rather than a currency for one country. Government prefer centralized systems rather than decentralized system where they do not have a single control. People managing and controlling a country always want total control of the country's financial transactions, and Bitcoin does not provide that kinda freedom.
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CODE200
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January 26, 2021, 09:45:17 PM |
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It needs to remain a decentralized currency. That's part of what makes it unique. I prefer an economy that shares thesame ideals built around Bitcoin and subjected to its decentralization-friendly rules, than allowing centralized entities/businesses built around it, influence and centralized it. It's basically corrupted once it's centralized and controlled by people with contrary agenda. Your kind of question is one of reasons I prefer an autonomous Bitcoin Network free from the control of "external forces" with contrary agenda
Corruption I think has nothing to do with this case. Corruption exist in fiat but it is not such currencies which is aimed to be corrupted. Even if cryptos will be linked to corruption, that won't matter that much since that is another concern. Cryptocurrencies I think will not be a currency to be used in a country alone. There's this taxation which is necessary for an economy to grow and it does not imply to decentralized currencies. Fiat is more likely to be supported in such aspect given that it is more globally accepted. Cryptos as an alternative is possible but to be the only currency to be used, I guess that won't be possible especially at this point of its development.
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KevinRosa
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January 27, 2021, 03:24:05 AM |
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I think it’s impossible. Bitcoin is a decentralized digital currency. It is a completely new technological revolution. It aims to re-establish a new economic order. It will not be restricted by any party. It is a completely free country, although the government will Increase supervision, but it will still exist in every corner of the world, and there may be governments that use Bitcoin as legal tender. This is possible. Bitcoin is the messenger of Jesus' second coming.
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Bagshlvp
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January 27, 2021, 03:38:05 AM |
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Bitcoin cannot be used as the currency of other countries. It is not applicable to all countries, but more and more people will use it.
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cocoladygaga
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January 27, 2021, 03:43:22 AM |
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Bitcoin's system is currently obviously unable to provide this function for the global economy, but its non-replicability as an electronic symbol does make it an electronic tool that realizes some currency functions. For example, the most realistic one is to become a kind of cross-border Electronic wallet. However, since it is not subject to any central bank or government supervision, on the surface this is a completely market-oriented system, but the instability that this market-oriented transaction inevitably faces is also fatal.
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Genemind
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January 27, 2021, 03:56:56 AM |
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Bitcoin replacing fiat in a country is still too far from reality, a lot of things have to take place. Mass adaptation, government's approval and acceptance, which I think is less likely to happen due to the inherent risk of crypto and volatility. However, crypto or even just BTC as an alternative payment method which is possible and is already happening in some countries like Japan is possible. We are yet to achieve mass adaptation and crypto is as young as it seems, there are still a lot of things that can be made and changes that can happen.
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kiki8899
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January 27, 2021, 06:17:23 AM |
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Perhaps, in some countries with severe inflation and severe currency devaluation, the credibility of Bitcoin may become a currency in circulation, just like the US dollar before it.
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death69
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January 27, 2021, 12:11:15 PM |
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Bitcoin can maintain its decentralization while becoming a currency of a nation. Unfortunately, there is no sign that any country willing to accept bitcoin as a major payment option. The government will be difficult in collecting tax, which is the main reason why they avoid using bitcoin. Next important thing that they can not cooperate with bank to shut down any bitcoin account and those governments do not like when they cant control it. Therefore, it is lucky that we can still use bitcoin anonymously without being trace by any authorities
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Kong Hey Pakboy
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January 27, 2021, 01:13:43 PM |
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Since bitcoin is decentralized, it has no central authority. There is no exact country where it originates so that any country can use bitcoin as a digital currency. If this happens, bitcoin will continue its purpose of being a new payment system as a digital currency that people will mostly use bitcoin in exchange for goods and services, other than using it as a highly volatile investment.
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bitzizzix
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January 27, 2021, 01:35:42 PM |
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Bitcoin can never be the currency of a country and bitcoin is a world currency or virtual currency that anyone can use, and its status as an alternative currency and will continue to be an alternative. and bitcoin is a currency that is decentralized and cannot be controlled and regulated by the government of any country and is very unstable, all countries have different currencies and as a symbol of the country which has meaning and is tangible while bitcoin is intangible and there are still many differences which in my opinion are not maybe.
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faulkner27
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January 27, 2021, 08:43:56 PM |
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Bitcoin cannot be a currency because it has intrinsic value. While some would argue against it, the resources spent to issue new units ensure that, unlike fiat currency, bitcoins cannot be created out of thin air and there are still no uniform international laws that regulate bitcoin.
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AmoreJaz
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January 27, 2021, 08:59:06 PM |
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Bitcoin can never be the currency of a country and bitcoin is a world currency or virtual currency that anyone can use, and its status as an alternative currency and will continue to be an alternative. and bitcoin is a currency that is decentralized and cannot be controlled and regulated by the government of any country and is very unstable, all countries have different currencies and as a symbol of the country which has meaning and is tangible while bitcoin is intangible and there are still many differences which in my opinion are not maybe.
in the first place, i dont think a specific country will solely patronise the use of bitcoin instead of their local currency. their local fiat is what sets them apart from other countries. so dont think exclusively using bitcoin will be one of the major goals of one country. but maybe using it along side with their fiat, thats more then likely to happen. maybe aim first for a small city or town, a progressive town using bitcoin only. now, that's awesome! but i dont think we will be seeing this in the next 5 years to come.
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Saltius
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January 28, 2021, 02:51:04 AM |
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Never. But it can be used to back one country's digital fiat.
Just as USA once uses gold to back paper USD.
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In the silence
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January 28, 2021, 04:24:02 PM |
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if to become the currency of a country it seems impossible. bitcoin is a digital currency and all countries are familiar with bitcoin, bitcoin is used as an investment and digital payment instrument not to become the currency of a country. in the future bitcoin will be known to many people and more and more people will use bitcoin.
IF there would be a cashless fiat in the near future, guess bitcoin can be considered as a currency for a country since we already know that we can use it as an investment and for online payment. But for now, we cannot guarantee that it can be use as a currency of a country unless the world will have a cashless fiat currency.
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