Can Bitcoin ever be use as other country currency

[Lorokan]

Can Bitcoin ever be use as other country currency and it will still maintain it decentralized digital currency?

Bitcoin can definitely be used as a currency in nations, to put it rightly, bitcoin is already in use in several parts of the world to pay for services, pay for goods on msme platforms and lots more. Even vpn platforms accept bitcoin as a means of payment too.

What I doubt is a country adopting it as an official currency. Nations will prefer to have their own centralized token.

[BIT-BENDER]

Yes I believe, in countries which are underbanked or underdeveloped. Bitcoin would surely fix problems such as counterfeit money. It is never going to be a country's main currency though.

No if under-developed countries dumps their currency to favor the use of Bitcoin, the country may not have successful eradicate monetary problems, it might tackle/fix one but give rise/birth a new problem to the under-developed countries, Bitcoin has not paper/physical appearance, should any country adopt Bitcoin as principal currency they might change things, about -Bitcoin within their country-

[Gotumoot]

Can Bitcoin ever be use as other country currency and it will still maintain it decentralized digital currency?

Everyone could use Bitcoin so it is up to the people if they would want to use it like that but I don't think that their government would take it lightly.
To be honest Bitcoin has becoming centralized for the past few years KYC and other restriction that would cause the users to submit their personal identity just to use some platform for crypto currency.
We have been moving slowly and becoming centralized again giving up our privacy so we could use their system or platform.

[verita1]

Any country can decide to use Bitcoin as a local currency. Bitcoin is decentralized since its inception and forever.
Right now it is important that more people join Bitcoin because there will be important use cases.
This time was propitious for us to realize that in the face of the crisis we must work more in the development of new technologies and that they will contribute to the better performance of the economy in its role in safeguarding the destinies of nations.

[serjent05]

Can Bitcoin ever be use as other country currency and it will still maintain it decentralized digital currency?

Bitcoin can definitely be used as a currency in nations, to put it rightly, bitcoin is already in use in several parts of the world to pay for services, pay for goods on msme platforms and lots more. Even vpn platforms accept bitcoin as a means of payment too.

What I doubt is a country adopting it as an official currency. Nations will prefer to have their own centralized token.

Indeed as I stated in my previous reply, Bitcoin can be a personal option to use as currency but the government won't render it as an alternative currency next to their national money due to the fact that they cannot control the flow of BTC.  They can implement control on the third party services but never on the core chain of Bitcoin.  As we all know the government hates and fears those that they cannot control completely so them letting people use BTC in their country and acknowledging BTC as an asset or legal tender or mode of payment but not as an alternative or main currency is just an act of taking advantage of the popularity of BTC and to take profit from it. And it is obvious that this kind of adoption is half-hearted.

[Ridwan Fauzi]

Can Bitcoin ever be use as other country currency and it will still maintain it decentralized digital currency?

I haven't seen it honestly, most people who know bitcoin now just using bitcoin as an investment place, yeah I rarely see it since the fee transaction is getting high right now, so many people will use money fiat only for their transaction.

Moreover with a country, it'll be weird if there is a country that uses bitcoin as a main of payment system and they abandoned money fiat, it will be really weird. You have to know that many countries still ban bitcoin especially for a payment system, even there are some countries that applies a rule where if the people use the payment system with bitcoin or they use bitcoin for anything, the government does not hesitate to give punishment for them.

[Argoo]

Bitcoin will definitely never be used as the main currency in any country.  This is impossible neither from the point of view of the nature of bitcoin, nor from the point of view of the tasks and functions of the state.  The national currency of the state should be a reflection of the value of material assets that can be in the civil circulation of the country.  In this regard, Bitcoin has a completely different nature and cannot be associated with the economy of any state.  And its high price volatility does not allow its use as the main currency of the state.

[Leviathan.007]

It's totally impossible to see such thing happen. One reason of why bitcoin is getting famous everyday is because of the decentralization of bitcoin. because it's not getting related to any country or organization, so none can get control over it. But, if any country wants to use crypto currency as their official currency I guess they must create a new coin with a new blockchain for themselves. 

[dizzy1996]

I will tell you that this is impossible, since the national currency is subject to control, that is, centralization, and bitcoin positions itself as a decentralized cryptocurrency that is regulated by the community and that is why bitcoin cannot be the national currency

[Crptomagma]

The idea of bitcoin becoming the country currency isn’t going to be very simple because bitcoin is a decentralized currency and most bitcoin enthusiasts are passionate about bitcoin trade and investment. Bitcoin is an electronic currency and cannot be used without a digital wallet so I guess everyone in the country must learn how to use bitcoin, bitcoin shouldn’t be forced on anyone.

Bitcoin is for the world but if any country choose to use it as one of its major currency, then it’s good and a welcome development to the bitcoin community because many countries government are still fighting against bitcoin technology and restricting its citizens to use bitcoin by implementing unfavorable charges for bitcoin users.

[Dfinest]

I strongly doubt this will ever happen. Bitcoin is very different from a national currency and it will stay that way. National currencies main role is to regulate their economy, while Bitcoin is a different kind of animal.

[Arkann]

I strongly doubt this will ever happen. Bitcoin is very different from a national currency and it will stay that way. National currencies main role is to regulate their economy, while Bitcoin is a different kind of animal.

One way or another, everything will depend on the government, which, first of all, must decide not only on plans to reform the country's economic and financial system, but also on the desire to carry it out. The fact is that national currencies are depreciating and it is no longer a secret for anyone that fiat currencies have exhausted their capabilities and only harm society, while providing an opportunity for malicious manipulation by the government.

[Imran232]

I don't think so it can fully replaced any countries currency.  Though it can be uses as a site currency. Means like,  we use mobile wallet replaced cash it will be like this we can use as a site payment option same as mobile wallet. Sorry for bad english but i hope you understand what i want to say. BTCBTC

[heztida3]

Basically understand that bitcoin isn't for any country, it is for the world and only for the people that are buying and using it. Bitcoin is completely decentralized totally and thoroughly open-source. In fact, even the creator, Satoshi Nakamoto doesn't have any order over bitcoin while governments and other central bodies don't have authority over bitcoin, not to comment on it transforming into the money of some particular countries. Without a doubt, China mining most proportions of bitcoin, yet people and relationship from another country are getting it. Bitcoin can not be brought together yet remain decentralized, what can make it become united won't happen anyway results in hardfork while bitcoin will remain to be bitcoin.

[mindrust]

Technically it is not possible. Blockchain cant handle that kind of demand and off-chain solutions don't really make things easier.

So the answer of your question is "no".

[SATWAT]

Technically it is not possible. Blockchain cant handle that kind of demand and off-chain solutions don't really make things easier.

So the answer of your question is "no".

This is really simple and good reply because I am newbie but reading about this around here its showing its really technically not possible with many troubles for many things.

[Casdinyard]

Yes I believe, in countries which are underbanked or underdeveloped. Bitcoin would surely fix problems such as counterfeit money. It is never going to be a country's main currency though.

That's too much of an expectation. Being used as a currency is already a thing but for a country to use it as its own currency on daily transactions is already something. Keep in mind how decentralisation affects the acceptance of this technology. A currency to be used in a country or across countries is something which is accepted by other countries or is something recognize by the majority and not merely a currency which is just popular. Try to compare the characteristics of Bitcoin to fiat currencies. There are indeed advantages of Bitcoin over fiat but still, it is lacking in aspects which are more important such as having no risk of putting your "all" into it as well as being supported by governments, which are characteristics under regulation. So maybe it would be impossible for not only Bitcoin but to this industry in general to achieve such acceptance even in the future.

[Becky666]

Can Bitcoin ever be use as other country currency and it will still maintain it decentralized digital currency?

Personally, i don't see any reason while other countries will choose to make or use Bitcoin as their sole local currency becasue Bitcoin is decentralized, no one has control over it. Basically, no government will ever think about this becasue they all want powers to oppress the people which Bitcoin won't give to any country that accept it as a currency. Moreover, Bitcoin as a payment method can be use by country alongside the country fiat currency and still stand as a decentralized coin.

[RokokGudangGaram]

I believe that this type of topics has been started even before. My opinion is that Bitcoin and the cryptocurrency in general is not for all country. As a matter of fact, there are several countries that avoid and ban cryptocurrencies. Thus, these cannot be really seen as a country’s currency considering that currencies are parts of culture or even under a global union. Although I agree that this can be used alongside with the country’s flat currency, especially with the new normal during and after this pandemic.

[imstillthebest]

btc is currently being used now as every others country's alternative currency next to thier fiat or whatever currency they have because btc was only digitally made and works on This environment.

Every other country can declare regulation and other rules to deform Bitcoin but still Bitcoin is universally remain as decentralized . that's the goodness of btc because no one can totally own and consume it's powers but all have an equall use  towards it .