The use of Bitcoin as a local currency!

[Shenzou]

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 honestly don't see bitcoin being used as a global currency and i feel like a lot of people have moved away from the idea of bitcoin is a currency overall, and it is only viewed as a valuable asset and a way to earn money, and because of that i think that we will see bitcoin grow more and more and become the number one investment in the world, but i don't believe that all the countries would agree on using it as a legal currency.

[glendall]

only a few countries are adopting bitcoin as a payment, but not as a currency
one thing that is impossible if bitcoin becomes a currency, where as I know bitcoin does not have a physical like fiat, the nature of the price that does not necessarily ,make bitcoin difficult to become a currency

[dimox]

older dont really know enough about bitcoin, you need to explain more and more. when younger know about bitcoin, they will find the best way how to use it, i mean for money.
its hard to use bitcoin as a currency if people know how potential it is.
nation need to create own local currency, just for transaction, not as investation

[mckinleeanael07]

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.

[Luzin]

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.

If it's officially and recognized by the state for now then it's like impossible. The IMF and the World Bank also seem to have refused to use bitcoin and other crypto as a means of transaction, because they are volatile. But that's right now, I don't know for next year. But if the concept remains volatile it looks like impossible.

[carrigan]

I don't think that's possible. Bitcoin is not physical but digital, and not everyone can access digital money because of technological limitations. Moreover, Bitcoin is also very volatile and unstable so it will be difficult to control. Every country that prohibits the use of Bitcoin as a means of payment in their country must have their own reasons that are really important with the policies they make. There must be a strong and basic reason that they have thought through carefully, so changing the policy will definitely be difficult. Bitcoin is more suitable as an investment because the profits are really promising and you can get rich suddenly.

[Ruvi2000sew]

Bitcoin takes over as the world's currency. This currency is accepted all across the world. It can also be referred to as a global local currency. The nicest part is that it is not a national currency. There is no one who owns this currency. The creator of this currency is Satoshi Nakamoto. However, the idea behind this currency is that it is decentralized, which means that anyone can use it from anywhere on the planet.

[ReiMomo]

Really wonder how economy would be if Bitcoin is accepted world wide. As long as Bitcoin is held with each one, yes its going to benefit them. Bitcoin can be used as an asset rather than as currency. This will support the local fiat currency stand on its own value in the market which will not disturb Bitcoin's growth as well. So yes, accepting Bitcoin as an asset would certainly support the economy.  

[Davidvictorson]

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-

Presently, the cryptocurrency model is a threat to the modus operandi of the banking system. It is decentralized. However, the scenarios I see for the world use Bitcoin as a currency are:
1)   If the governments of different countries approve of it just like El Salvador.
2)   If merchants worldwide are willing to accept transactions in bitcoin.

[Vaskiy]

Majority of the countries are free to use it, and no law/framework have been developed for its usage. Maybe those countries can make some positive impact over the rest of the countries that are against the usage of bitcoin. China at present has banned the usage. The illegal market and access is a bad thing that makes government to ban bitcoin. Iran is one such country that gave the access to use, but the mining process through illegal power stealing had made the government take action against the usage. So, the users also at times serve as a reason.

[californiaquail]

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-

Well, no government can "ban" the use Bitcoin. So that never happened.

It's like saying, "hey look we banned decentralized P2P file sharing".  It's not technically feasible, nor is it enforceable.
The most a government can do in that regard, is to scare people by shutting down mining operations and delicense exchanges operating on its soil (just like they shut down Kazaa, eMule or other centralised P2P services & servers, before BitTorrent came along with full decentralization ).

Worst case scenario, a government could ban the possession of Bitcoin, and that would suck.

"When Owning Gold Was Illegal in America: And Why It Could Be Again"
https://www.huffpost.com/entry/when-owning-gold-was-ille_b_10708196

[famososMuertos]

... Everyone on the forum knows what Bitcoin is ...

Well! I answer you primarily that "I bet you a satoshi" that here there are users who do not know what bitcoin is, we may be in the most important forum about bitcoin but if we could take a survey and ask that question, many would fail ... in a specific answer .

In that sense, the following answers to your question fall into the area of ​​uncertainty, the variables are very complex to consider, yes! bitcoin has everything to be successful, in fact it is having a lot, although some people only see that "temporary" success when it goes to the moon or they evaluate it for its price.

bitcoin not only has everything as a technological element to be able to break paradigms, as well you say, several countries support it, not many, but with only one country that does it formally it is already a "We are The Champion" but we only have to wait. And be careful, it has a lot of competition, the Russians, the Chinese and some other countries want to displace the dollar, and several of them see bitcoin as competition as well.

So with a little more than 10 years in the life of bitcoin, chances are that the correct answers to your questions will be far from the zero probability that it was years ago.

[Liamttw]

Not all countries will choose to use Bitcoin as a legal currency to replace traditional financial currencies.
The high volatility of Bitcoin price cannot be used as a daily transaction currency, and the rise and fall of Bitcoin price will affect the original income. The transaction fees for small transactions and the long waiting time for transaction confirmation are inconvenient.
Bitcoin runs on a network system, and transactions must be carried out on the Internet. However, many countries lack Internet services in certain areas, and they do not understand the use of Bitcoin. There are also some countries that explicitly prohibit bitcoin transactions and do not allow the use of bitcoin to pay any fees.

[Sayeds56]

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 think in the distant future it is  possible that Bitcoin will be used as Alternative currency to buy goods and services but use of Bitcoin as national currency is not going to happens so soon specially in developed world as their economies are based on diversified souces of income and adopting Bitcoin will rise many issues but some under developed might adopt it becuase their economies are so weak and their main source of income is from overseas Remittance like EL-SALVADOR.

[blue_nexus15]

That will never happen until bitcoin is legalized by the laws and regulations based on the constitution of each country.  In addition, to use bitcoin as a local currency, it is necessary to prepare many infrastructure devices for the payment process to take place, and before that, there must be many educational courses to raise people's awareness about use and security bitcoin.  It's too hard to be feasible

[conected]

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-

Although currently several countries have accepted bitcoin back, I'm not really sure if their government will make bitcoin a legal currency in their country, because bitcoin has several characteristics that cannot be used as a currency, one of which is because bitcoin does not have an underlying assets and bitcoin cannot be regulated like paper currencies in general, which can be regulated by banks to maintain their value stability.

- If we try to hope for a country to turn it into a currency, it's only a few special cases each year but the international agencies will still isolate these special cases, with such an unsatisfied and somewhat disgusted attitude, we can also imagine how the high-level authorities think about bitcoin. I think bitcoin has also formed a neutral environment and it is possible to call the internet world a miniature locality with a full collection of countries as long as they have a need for bitcoin, bitcoin can be exchanged as currency here with other altcoin commodities, another space without extra operations from local governments

[suzanne5223]

Everyone on the forum knows what Bitcoin is.

Bitcoin name is the combination of 2 things i.e Bit and Coin
Bit means piece or basic unit of information in computing and digital communications.
A coin is a metal used as currency.
Therefore, Bitcoin is a basic computing information currency and that's why private keys play an important role.

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

It is not possible. A country that is communist like China will find it hard to accept Bitcoin as currency.

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

Yes, it won't and the government's negative stance towards Bitcoin is the major problem we have, if the government support Bitcoin totally, I'm the Dev will find a total solution to every problem cryptocurrency is facing now.

If I'm not mistaken, it depends a lot on the region. In some places this is not a problem at all, but in some places it is quite difficult.

There are several bitcoin ATMs and bitcoin-accepting outlets that I've met, I don't know how bitcoin ATMs work, but I think this is a good idea so crypto users are more active and no longer have trouble transacting.

Bitcoin ATM is a good innovation and it is easy to use but the hike charges fees are the major problem people have with the use of Bitcoin ATM and it will be nice if something is done about this in the future.

[bitzizzix]

The future of bitcoin is still uncertain, but developments that occur in the near future will be a new point for bitcoin and we'll see what happens, and in my opinion the digital currency system or bitcoin is difficult to become a national currency because of the trust and acceptance of conventional currencies still very large and so on.
My assessment of the future of bitcoin and national currencies will go hand in hand without eliminating either one, and bitcoin will remain an alternative payment option that can be used worldwide.

[ILuckyGuyI]

When it comes to the probability of all the nations in the world to start using Bitcoin as their legal tender, it is not more than a dream I think. I give zero chance for this to happen. Because not all of the governments in the world are leaning towards Bitcoin right now. They just want to regulate it and benefit from it somehow. But because of its volatility, especially developed countries are not intending to accept it like that. They are just happy about the current status of Bitcoin.

[AakZaki]

Majority of the countries are free to use it, and no law/framework have been developed for its usage. Maybe those countries can make some positive impact over the rest of the countries that are against the usage of bitcoin. China at present has banned the usage. The illegal market and access is a bad thing that makes government to ban bitcoin. Iran is one such country that gave the access to use, but the mining process through illegal power stealing had made the government take action against the usage. So, the users also at times serve as a reason.

bitcoin faces pros and cons in its use for several countries, China has even become one of the countries that openly prohibits bitcoin to make the bitcoin price crash.
However, several other countries such as El Salvador which legalized the use of bitcoin certainly had a good effect on the development of bitcoin. Bitcoin can be a local currency or as another payment option. The adoption of bitcoin is getting stronger and this proves that bitcoin is not only a speculative asset but can become a local currency although not completely.