The use of Bitcoin as a local currency!

[EYC_ONE]

Everyone on the forum knows what Bitcoin is. We already know that many countries have removed this currency from the ban. I mean, will all the nations of the world use Bitcoin as a currency?How important will it be? It will not go to the good side to the bad side?I want to know the opinion-

[TheNineClub]

Everyone on the forum knows what Bitcoin is. We already know that many countries have removed this currency from the ban. I mean, will all the nations of the world use Bitcoin as a currency?How important will it be? It will not go to the good side to the bad side?I want to know the opinion-

No. And this is by no mean a pessimistic view. BTC was the first, but I doubt it will be the last and only. What I mean by this is that BTC is just a stepping stone to a future with crypto. As with FIAT, I doubt we will have one worldwide currency, but an assortment of government-created cryptocurrencies. At the end of the day, BTC is too volatile and lacking of being controlled that the governments would put so much trust in it.

[BitMaxz]

In addition from the above post, Bitcoin doesn't have physical coin everything in crypto are digital.

What do you think about other people who don't know about Bitcoin do you think they will use it or accept it?
I know there is some restaurant who accept BTC but not all people pay with bitcoin it's just an optional.

[sheenshane]

Everyone on the forum knows what Bitcoin is. We already know that many countries have removed this currency from the ban. I mean, will all the nations of the world use Bitcoin as a currency?

Look at this, Legality of bitcoin by country or territory.
There are some countries Bitcoin is legal but the banking ban and its worst most of them are totally banned which is illegal and lucky those countries was implemented legal tender.  Now, if the banking system banning Bitcoin, how could the nation use Bitcoin as one currency.  Probably time will come, those countries that banned Bitcoin will someday realize how it will useful to society, or until such day they will realize that most of their people using it and no one can stop.

How important will it be? It will not go to the good side to the bad side?I want to know the opinion-

The fact is, most cryptos of those enthusiasts realized that keeping Bitcoin to store value is much more important than using this as a currency to pay online.  They are hoarding this and waiting at the right time to gain profit.

[bosede1]

It is evident recently that we see some countries lifting their ban which is good for bitcoin but for the whole world using it as a local currency, I don't know if what you mean will be that it will be in printed form like fiat or will be the most used currency. For all nations to use it I will say not visible as we have some countries who are underdeveloped and haven't heard or known about this coin.

[haidil]

Enough as a payment intermediary is more than enough, as for the adoption of other countries, we must be able to have the same understanding as local governments who like the existence of crypto. In our place, although Bitcoin is not a legal payment, its position is very special, the government only places it as a medium of investment and trade.

[rigmasterkurulum]

Bitcoin at its current state is not scalable for worldwide usage. Moreover, Central Banks wouldn't let some random currency to take over in near future (I'm not saying it won't happen at the end) and until then I am 100% sure that there will be not just one but many different currencies and all of them will be equally valid. I see a future with tokenized asset instead of money, tokenized wheat, tokenized butter even tokenized houses that you can exchange 1-1 instead of putting money into the equation.

Money was invented because it was hard for people to trade 1 tonnes of carrots for a horse cart, now we have the technology for that, a facility can provide the storage and issue some amount of tokens for the carrots, that person can then sell those tokens to businesses for goods and other tokens, and businesses can claim those carrots later on.

[Anonylz]

Some countries may use btc as an option to their already known legal currency, even though some countries may decide to legalise btc I doubt they will have it as the main legal tender, btc is highly volatile which can be a strong point of consideration for many country, an optional currency will be possible but as main currency will be difficult.

[Fortify]

Everyone on the forum knows what Bitcoin is. We already know that many countries have removed this currency from the ban. I mean, will all the nations of the world use Bitcoin as a currency?How important will it be? It will not go to the good side to the bad side?I want to know the opinion-

I can never see Bitcoin being accepted for use officially alongside any major fiat currency. There may be certain countries who have fairly small economies that accept its use, however that will be the extend of it. Governments want control (via central banks) of their own monetary policies and that becomes impossible if you are using a currency where you cannot expand the supply if it is required. Every country in the world loves being able to depreciate their own currency because it makes any debts owed cheaper to service and allows them to export goods to other countries for cheaper - there is a constant battle between major powers to devalue. Besides all that Bitcoin simply does not have the processing power to cover all the transactions required and there are options that allow for instant settlement which will always be preferred. It has a useful purpose - moving larger amounts.

[Oshosondy]

Everyone on the forum knows what Bitcoin is. We already know that many countries have removed this currency from the ban. I mean, will all the nations of the world use Bitcoin as a currency?How important will it be? It will not go to the good side to the bad side?I want to know the opinion-

El Salvador has accepted bitcoin as a legal tender but possible other countries may not accepted that. Also some other countries are working towards accepting bitcoin as a legal form of payment but not as a legal tender. It depends on what the future holds, if the governments see bitcoin as threat, they will regulate it in a way it will not be used more of currencies but this does not change bitcoin at all to be an asset, this is the reason why I like bitcoin.

[CryptocurencyKing]

Let's not fprget fact that, the currencies of the world is a national symbol for the nations that uses it. Bitcoin on it's own can't contest that and despite the fact that, most nations might do what El-Salvador did in the near future, the local currency would still be very functional. Bitcoin would be used when the need applies and when it's most convenient.
Lifting of bans while the rest of the world is hinged on a global adoption is going to be hard. As government always looks towards the adoption of what they can control so, we are likely not to see a crypto or bitcoin enabled world without some really strict regulations from the government and should this be possible, it would defeat some of the bitcoin goals in the long run.

[sapnu]

Everyone on the forum knows what Bitcoin is. We already know that many countries have removed this currency from the ban. I mean, will all the nations of the world use Bitcoin as a currency?How important will it be? It will not go to the good side to the bad side?I want to know the opinion-

The currency being used by each country has different value when you use it in other countries. It means that not all currency has the same value and it somehow maintains balance towards each nation's economy although third world countries has the lowest value compared to other currencies. Bitcoin, as the world's only currency might be possible someday but there would be a lot of adjustments and innovation needed first so that it would work smoothly and properly regardless of the country. The outcome is still not clear since it is just a theory and there are not much proofs about it yet but maybe we'll know through El Salvador's recent legalization of bitcoin.

[TimeTeller]

Everyone on the forum knows what Bitcoin is. We already know that many countries have removed this currency from the ban. I mean, will all the nations of the world use Bitcoin as a currency?How important will it be? It will not go to the good side to the bad side?I want to know the opinion-

El Salvador has accepted bitcoin as a legal tender but possible other countries may not accepted that. Also some other countries are working towards accepting bitcoin as a legal form of payment but not as a legal tender. It depends on what the future holds, if the governments see bitcoin as threat, they will regulate it in a way it will not be used more of currencies but this does not change bitcoin at all to be an asset, this is the reason why I like bitcoin.

We should not expect that every country will follow the path of what El Salvador has taken.
Every country has their own financial approach towards crypto.
Just be grateful if some of them are already considering btc as a legal form of payment.
The adoption that btc has achieved today is I think already more than what Satoshi has envisioned.
Regulation of crypto is not part of it, but as time goes by, we just accept it to further increase its scope of use.

[hatshepsut93]

People need a reason to adopt Bitcoin. And this reason should outweigh Bitcoin's flaws or the flaws should become smaller with time. Bitcoin's main's proposition is that it gives the user control over their money, but most people aren't interested in control, especially since it's also a burden, they are fine with outsourcing it to a third party. Inflation is also not a problem for most, because either they don't have enough money to notice it, or they store their wealth in assets. Bitcoin gains a popularity as one of such assets, but it's not becoming significantly more popular as a currency that also serves as a savings asset.

[ralle14]

I mean, will all the nations of the world use Bitcoin as a currency?How important will it be? It will not go to the good side to the bad side?I want to know the opinion-

Currently it won't happen and in the future it's difficult to say Bitcoin will be legal in every country as they all have different views on crypto, even though only a few countries banned Bitcoin it'll take time to lift those restrictions. As of now using Bitcoin as a local currency is a bit of a hassle since you have to use exchanges for better spending options. Then again it's still important to have people spend them as a currency it encourages more payment options plus that's one of the main reason to use Bitcoin but we can't blame the others for not doing the same though.

[Dhoe]

Bitcoin is touted as new in the millennium. From a mathematical program code for a computer system device, Bitcoin then managed to establish itself as a universal currency. Bitcoin qualifies as money because it is durable, rare, shareable, and recognizable. In the end, the most important thing for an award to gain recognition as money is the trust and acceptance of the community. Well, the condition is a general convention. Even people recognize paper, metal, gold, diamonds, mutual funds, stocks and other commodities as wealth as well as a mere convention. transfer of capital and means of accumulation of wealth. Bitcoin has accelerated its amazing function from a technological product solution to an 'idol' of wealth. Not a few people in the world believe that Bitcoin will be a superior and powerful future currency.

[Kemarit]

Everyone on the forum knows what Bitcoin is. We already know that many countries have removed this currency from the ban. I mean, will all the nations of the world use Bitcoin as a currency?

There will be countries that are going to totally opposed bitcoin, specially oppressive government because they don't what their population have financial freedom (and any freedom for that matter).

How important will it be? It will not go to the good side to the bad side?I want to know the opinion-

It's too early to say what will be the good and bad effect. But we have seen countries like El Salvador, Japan and even Australia embracing bitcoin as legal tender. And so far, specially the last 2 nations that I mentioned have some bumps along the way, but still bitcoin is being used and government are still allowing it to flourish.

[yhiaali3]

I don't think that is possible at the moment, Bitcoin lacks a lot of flexibility to deal with it on a daily basis as a national currency in addition to its high volatility, if you want to buy a sandwich for example does the seller have to wait several hours to get the price of a sandwich in Bitcoin? This is difficult, in addition, the economically strong countries will not accept to have the same currency that the weak countries use, but it is possible instead for the Bitcoin to be the second monetary currency next to the national currency of all countries, and for the Bitcoin to be accepted as a global currency in the world like the dollar.

[yazher]

Everyone on the forum knows what Bitcoin is. We already know that many countries have removed this currency from the ban. I mean, will all the nations of the world use Bitcoin as a currency?How important will it be? It will not go to the good side to the bad side?I want to know the opinion-

Not all countries will accept bitcoin for granted. Even though the trend is already echoing. but many considerations from the government about this. And bitcoin does not have physical money so it may not yet be made into a currency. Maybe it's just a payment option in various stores that support btc payments.

If they smell some profits on it, they wouldn't think twice to give it a try. Some countries are just don't really want to get to the point where they implement bitcoins to the public and doubt about it later when the price has fallen in the crypto market. If that is the case, the good thing to do is stay neutral about it and let those companies run on their countries and get some reasonable taxes from them. Of course, they need to warn their people about those scammers who will gonna take advantage of the situations.

[Darker45]

Not banning Bitcoin does not mean accepting it as a currency. However, accepting Bitcoin as a currency may not be important to them, I mean from the government's side. Why would they do that? A currency beyond their control is devastating. Bitcoin is highly incompatible with current financial, economic, monetary systems, and even law enforcement policies.

The people may want Bitcoin's features but not the government. However, I guess the general direction is still toward regulating the use of Bitcoin as the demand for it is rising. I hope this will end up on the good side. For now, things are still a bit unstable primarily because regulators and policy-makers are crafting policies on something which has yet to be thoroughly understood.