The use of Bitcoin as a local currency!

[Rehan Zakir]

Bitcoin becomes the international currency. This currency is used in the worldwide. We can also named it as a local currency of the world. But the best thing is that it is not a currency of a country. And there is no owner of this currency. Satoshi nakamoto is the founder of this currency. But the concept of this currency is that it is decentralized and anyone can used it from anywhere in the world.

[breathlessz]

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.

For a country that has its own currency, it seems as if it has sovereignty and by strengthening its own currency, the sense of nationalism seems to be thick. therefore it is indeed difficult to leave the currency itself, and moreover have to equalize the currency for all countries. but it does not rule out the possibility that if it is in accordance with the situation and conditions, it is not impossible that bitcoin will be used later too

[magnum1010]

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-

As I understand you wonder if Bitcoin is likely to become less volatile in the future. Well, according to some economists, Bitcoin will become less volatile when ETFs on Bitcoin appear. It is said that all assets (for example, gold) become more sustainable when there are ETFs on them.  Some countries have already accepted Bitcoin as the means of payment, so I am sure that it will sweep the globe.

[Tahsin Kabir Kollol]

I don’t think this would be possible in the current situation. Although Bitcoin is currently considered a good investment vehicle, it is not yet suitable for day-to-day transactions. Companies and organizations that are using Bitcoin as a medium of the transaction are aware of the future growth of Bitcoin and consider it as an investment. However, the general public, especially those who are not aware of this technology, will not be interested in managing their daily income and expenditure through it. Therefore, in the current situation, it is not possible to use Bitcoin as a local currency at all levels.

[mrongos]

The era of digitalization of technology gave birth to Bitcoin as an exciting new currency for the world community. He became an alternative to complete the needs of financial transactions at the global level who crave convenience, efficiency and security.

[Dhaniii]

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 country is struggling to strengthen the local currency as a legal medium of exchange, so it is linked to bitcoin and made into a legal medium of exchange I don't think it's possible. if bitcoin is used as a running asset, if the term is economic with the aim of strengthening the country's economy, I think it is possible and many countries have adopted it.

[Koro-Sensei]

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 it will not. As you have mentioned, several countries ban it due to the fact that these countries are afraid of the decentralisation of it. They can't tax nor benefit from using it because BTC's vision is to have an electronic money outside the authority of any central provider. In example, China bans bitcoin because they were afraid that BTC inherent speculative nature threatens their economic stability.

[Wakate]

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-

For countries to use Bitcoin as local currency will be a good innovation  will have it's own advantage and disadvantages for people that have no good knowledge in cryptocurrency and how it works. Bitcoin is very volatile and many new adopters might be shocked and depressed on how the valuable of their Bitcoin is falling and rising making it hard to sell back to the market when the need occurs, and it can cause delay for investors waiting for the price to go up to the price when they acquire in order not to make loses.

Bitcoin will be a good idea if it's used as local currency making it more volatility for traders to trade and for short buying and selling. It will reduce the stress of cashing out funds from the bank or going to queue for one to collect is own money

[Gosgosking]

Bitcoin is important for transactions that cannot be traced. It's also important for investment to get  profit , it can also be saved without no stress instead going to the bank

[7788bitcoin]

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 am not sure why would anyone has to wait for a country to give permission to use them as a currency, everyone in the market is trading irrespective whether your local government announced cryptocurrency as a trading asset. If that is the situation then why would anyone wait for the government to form a legal framework. If you are a merchant start accepting Bitcoin rather than waiting for permission.

[Oasisman]

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-

That vaguely happens in this current timeline.
We can just all agree that fiat, digital money, and cryptocurrency could all co-exist and use it to pay for everything. Bitcoin as a local currency has a lot of downside, to name a few are volatility, needs to have an e-wallet and internet to do transaction, and not everyone is tech-savvy enough to use Bitcoin in a daily transaction.
If that actually happens, I guess we still need to wait for quite a long time for Bitcoin to be totally globally adapted.

[GeorgeJohn]

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-

That's not possible because Fiat and Crypto are working together when you sell BTC you get currency which you like, is it a paper Currency or Gold and when you buy BTC you give Currency and if you purchase some thing it' a BTC value exp; a Pizza or car, it's have a fiat value but the difference between fiat and Crypto.
Fiat is Stable and Bitcoin going up day by day.
 

Yeah you are partially right because i noticed that the possibility of making or turning BTC to local currency will be at higher potential, normal fiat has gather firms before the existence of cryptocurrency more especially bitcoin in particular, so using bitcoin purchase our needs in our various domains will not be as easy as we expected because old adults has not acclimatized with uses of fiat currency and is not all countries that legalize the adoption of bitcoin, some countries accept the BTC transactions or exchanges but not every country, so before this view of yours will come in accomplish it will take a period of time.

[n0ne]

Already some countries have leaglized the usage of cryptocurrencies. In those countries it is quite a possible thing to gets recognised as a local currency. It is stated bitcoin could eliminate unemployment which is a wrong understanding, It gives transparency and accountability through its better infrastructure. The same doesn't have the potential to overcome unemployment issues.

Unemployment is a social issue that mostly happens out of corruption, which can be solved only by the active plans of governments.

[Slow death]

Everyone on the forum knows what Bitcoin is. We already know that many countries have removed this currency from the ban.

As far as I know I haven't seen the countries that ban bitcoin back down from that decision, aren't you confusing countries that allow bitcoin from the countries that ban bitcoin?

I mean, will all the nations of the world use Bitcoin as a currency?

eventually yes, bitcoin is something that is becoming popular with big investors and big companies, governments are driven by big companies and big investors, so eventually every country will use bitcoin as a means of payment, but that doesn't mean that someday bitcoin can replace the local currencies of each country, because this is impossible

How important will it be?

the price will go up a lot and people will be able to become a little more independent when using something decentralized

It will not go to the good side to the bad side?I want to know the opinion-

there is no way to have a bad side

[xiboothrezi]

Digital money is still very common for everyone to use as payment and Bitcoin becomes famous when the price goes up very high but Bitcoin will be very difficult to accept to replace fiat currency.
For now, there may be some shops that provide payment services using Bitcoin but not as a substitute for fiat currency.

so far digital currency or e-money is indeed more common and can be used legally anywhere, depending on the currency of each country. This is also easier to use, many banks already serve e-banking so that transactions can be done easily using only a mobile phone.

whereas crypto currency, doesn't seem to be able to easily replace the country's official currency, it will just be an alternative. in addition to its use which is quite complicated for ordinary people, not everyone is ready for a decentralized system, not everyone is ready to become their own bank.

[Qikiye]

Bitcoin is completely banned in my country and Bitcoin users cannot use Bitcoin directly. So it is not possible to expect Bitcoin to be legalized in our country as a legal currency. Moreover, the rest of the world accepting Bitcoin as legally. So we can easily guess that bitcoin would be a legalize currency one day.

[adzino]

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-

Bitcoin right now? Not really. Imagine if all countries in the world made bitcoin a legal tender. This means people will starting investing and using it as a currency. This in turn will cause network congestion. And when that happens, you what's going to happen next. I am sure you have seen it. Absurd/insane transaction fee and very long waiting period for just one network confirmation. We need something better to overcome the current issue. If no solution is found, bitcoin can't be used as a regular day to day currency.

[Dhaniii]

Already some countries have leaglized the usage of cryptocurrencies. In those countries it is quite a possible thing to gets recognised as a local currency. It is stated bitcoin could eliminate unemployment which is a wrong understanding, It gives transparency and accountability through its better infrastructure. The same doesn't have the potential to overcome unemployment issues.

Unemployment is a social issue that mostly happens out of corruption, which can be solved only by the active plans of governments.

The government measures the unemployment rate through real jobs or under government protection, while jobs are carried out by professionals such as investors, bounty players who generally have high incomes, trading players like we do now. many bitcoin adopters are already successful, are they still considered unemployed. Broadly speaking no, so the use of bitcoin as a transaction tool can reduce unemployment.

[Marvell1]

In my opinion, accepting BTC into use as a payment currency is a pretty good thing, and we are living in a time when BTC technology is the foundation of money technology in this respect. development of all of us, for the benefit of long-term storage with no security problems only you can use it, no tax and you are completely free of your own finances.

Countries that accept Bitcoin as a currency are great. But I'm sure they will collect taxes, which is what has to happen. The government can't accept a currency that it can't control and does not get any benefit from bitcoin.

[Xinarae*]

Although it is convenient for people to adopt bitcoin as a currency it may take a long time to use bitcoin as a local currency. Bitcoin has not yet been properly introduced in many countries of the world bitcoin is much more secure for crypto than local currency individuals are able to do everything as they wish the government has no control. For example the way it is doing business now someone is buying and keeping it selling it again when the price goes up but as has happened in the capital market in our country there is also an opportunity for deception due to misunderstanding.