The use of Bitcoin as a local currency!

[Liamttw]

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?

The popularity of Bitcoin is far from enough, and there is still a long way to go before it becomes a world currency.
Most countries in the world are cautious about Bitcoin, and there are still many countries that oppose the use of Bitcoin. Bitcoin still has a very high threshold, and the government cannot track transactions that manipulate Bitcoin.
And the price of Bitcoin is very prone to large fluctuations, which are very rare in legal tenders, so Bitcoin is not suitable for becoming a world currency.

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[Rajamuda]

In my country, it looks like it will only be an asset or like an alternative from the financial side that still sells it to the local currency. When viewed from the overall side, I think it is still a matter of consideration and it is not certain that Bitcoin can become a currency like local currency, maybe only a few or most countries can adopt bitcoin become legalized, of course it depends on the government system of each country.

[lienfaye]

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-

Bitcoin really gain popularity worldwide especially during pandemic wherein people are staying at home and their attention is on the internet to look for opportunity online and one of that is crypto.

But even the users are increasing and some countries lifted the restrictions they set on bitcoin, it doesnt mean it will be use as currency together with fiat. Using bitcoin in everyday transactions wont be as smooth as we anticipated it to be, you need gadgets and internet (not to mention the fees) to be able to transact and these are some of the hindrance on why it wont be easy.

Nevertheless its a good alternative however it still depends on the stance of the particular country regarding bitcoin.

[The Cryptovator]

Many countries in the world allow Bitcoin. And from that countries, you can purchase with Bitcoin where it's acceptable. But don't expect ever we can use Bitcoin like physical money. It's because of a lack of knowledge about Bitcoin. Just ask yourself how much percent of people in your country know about Bitcoin. Of course, there is advantage and disadvantages using Bitcoin during purchase goods. It would be a long story, in simple words, you can use virtual currency in a physical store and you don't need to carry any physical money. The main disadvantage is double-spending, otherwise, you have to wait in the store until getting confirmation and transaction fees are another disadvantage. So only Bitcoin lovers would use Bitcoin to purchase or sell goods lately.

[LimLims]

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-

Many countries allowing BTC whereas there are many countries which still have banned the coin.
Now as the coin is getting more recognition and people are using it , so the countries are becoming liberal to allow the coin.
It can’t be treated as a local currency though, but yes it can be used for sure.
The government will use it as a form of barter system, like exchanging the assets.

[nicecrypto]

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-

When you say "We already know that many countries have removed this currency from the ban" was it is ban in all countries before? Only one country has legalized it as a legal tender, El Salvador and even though some countries have not banned it, it is not a legal tender also only that some organizations accept it for payments within that country. It's going to take more adoption even within whichever country before we can really see bitcoin been accepted by most as a currency even though it is not a big deal if they don't IMHO. 

[Melody kdl]

Bitcoin has been used as an example of currency, and more and more countries have begun to support the acceptance of Bitcoin. As the final transaction of currency, both parties must recognize its value in order to complete the exchange. However, some countries still have not lifted the ban on Bitcoin, and the liquidity of Bitcoin is still insufficient. There is no restriction on the circulation of Bitcoin in a small area, but it cannot be used as a universal currency in the end.

[Kong Hey Pakboy]

They wouldn't, there's a certain pride that these countries have that won't make them consider bitcoin as a local currency, remember that the national currency of a country have some back story as to why they were chosen, some might even say that those banknotes are even their identity. So in conclusion, it's impossible to replace a nation's currency with bitcoin no matter how attractive it is and it's current price is.

[Obito]

In my country, it looks like it will only be an asset or like an alternative from the financial side that still sells it to the local currency. When viewed from the overall side, I think it is still a matter of consideration and it is not certain that Bitcoin can become a currency like local currency, maybe only a few or most countries can adopt bitcoin become legalized, of course it depends on the government system of each country.

I think that it's for the better, doesn't local currency have laws as to why they're there in the first place? Plus, pushing for this one will make things sour between the country that either supports or is neutral towards bitcoin. Probably doing what El Salvador did could be followed but a total replace would seem to be disrespectful.

[JillianTaft]

Every country has a different view of cryptocurrency, and the scope of countries in the world is too large. Many countries have no choice but to adopt Bitcoin. Bitcoin is only used as a payment method. The right to choose is still in the hands of consumers. I think some countries may keep up with El Salvador, but as far as China is concerned, it will not choose to accept cryptocurrencies.

[MIldic1c]

Some countries have accepted Bitcoin as a payment method and use Bitcoin. We can use Bitcoin to make purchases wherever Bitcoin is accepted. Although many countries support Bitcoin and accept Bitcoin as a payment method, this does not mean that it can replace their domestic legal tender. The final choice of the country depends on the national government.

[Shasha80]

They wouldn't, there's a certain pride that these countries have that won't make them consider bitcoin as a local currency, remember that the national currency of a country have some back story as to why they were chosen, some might even say that those banknotes are even their identity. So in conclusion, it's impossible to replace a nation's currency with bitcoin no matter how attractive it is and it's current price is.

Local currency does have a history of its own why it was chosen to be used as a transaction tool in a country. So Bitcoin, which may be more attractive
and innovative, is unlikely to replace the local currency of a country. Local currency is indeed an identity for a country, and will be maintained to be
the most important means of financial transactions. Even some countries that have legalized Bitcoin, do not think of replacing their local currency
with Bitcoin. Bitcoin will only be an alternative to local currency for payments.

[Kakmakr]

Most governments do not want ANY competition for their local reserve currencies, so they will do anything in their power to squash any competition for their power over local currencies. You have to remember this, governments have full control over the supply of reserve currencies and they have ZERO control over the supply of Bitcoin... so why will they ever want to relinquish that power to a new currency?

This is why you see government regulating Crypto currencies and also defining it as a Commodity. A Commodity are not in a position to compete with their reserve currency. 

[Ausgewielt]

That's may be happen but maybe not in my country. In my country there is only one currency that allowed to be used by citizens, it is our national currency. I think this is one of the proof that all citizens should love the country, maybe I can call it nationality. Anyway, holding bitcoin is not prohibited in my country. Need good infrastructures to make it happen.

[boharadeepaknp@gmail.com]

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-

[Sebas.tian]

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 guess with special agreement the world can use bitcoin as a currency. Bitcoin is a digital currency that came to eliminate poor financial transaction in the world.
It will bring more development to the world economy. It will reduce unemployment in the the world and it will make financial transaction more easy to all citizens in the world, if bitcoin accepted as a currency in the world.

[Yamifoud]

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 guess with special agreement the world can use bitcoin as a currency. Bitcoin is a digital currency that came to eliminate poor financial transaction in the world.
It will bring more development to the world economy. It will reduce unemployment in the the world and it will make financial transaction more easy to all citizens in the world, if bitcoin accepted as a currency in the world.

Bitcoin is not and can never be a solution to unemployment but this considers as an alternative currency online which everyone could enjoy unless if it was banned in their place.
Although we wanted to have Bitcoin use offline and can be a part of living, that was still far from going to happen due to slow adoption and local support. In fact, only a few establishments are accepting Bitcoin payment which is hard to adopt when we go offline. Maybe we could think this a decade from now but we are still not sure how this going to happen if the issue of its volatility hasn't changed.

[nightxglow]

I don't think all countries will use bitcoin as a currency, not because bitcoin is bad or anything, it's just that not all countries are ready for adopting it yet. There are so many countries that lack of internet services in some areas, and of course internet is so important if we want to use bitcoin as a currency. Although there are so many great advantages that bitcoin has, but I think it will be hard. I guess it might be great though, like we all have only one currency, so we shouldn't be confused, or stressed over rates, and other things if we only have one currency. However the implementation won't be that easy.

[bittraffic]

For countries that doesnt have their own currency I guess they can use Btcoin. El salvador  didnt have their own currency that is why they made BTC as legal tender. It will be hard for countries to abandon their established local currency because its part of their culture already. 

New countries that could gain independence I guess could declare BTC as their currency easily.

[AicecreaME]

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-

Mass adoption is slowly happening. This is a good thing because it will benefit the cryptocurrency community. The users will have more options on what mode of payment they will use. This would also entice new investors along the way. However, bitcoin as a legal payment is still almost impossible to happen unless a particular country has no other choice but to adopt it as their local currency instead of dollar.

In addition, it would be hard for most to adopt because most people are used with traditional mode of payment. For sure, fiat will still remain to be the primary payment for transactions most especially given that cryptocurrency's nature decentralized and volatile. It would be very hard for the government to control, regulate, and monitor it the moment they will accept it as a local currency. They wouldn't just allow a speculative asset such as bitcoin to instantly take over and then they will lose control of the financial aspect of their nation for doing so.