Athenasian
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Activity: 11
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September 21, 2016, 03:17:28 AM |
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It could be possible but not eventually. There would be many things to consider for it to become a global currency.
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Transactions must be included in a block to be properly completed. When you send a transaction, it is broadcast to miners. Miners can then optionally include it in their next blocks. Miners will be more inclined to include your transaction if it has a higher transaction fee.
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madwica
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September 21, 2016, 04:51:50 AM |
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It could be possible but not eventually. There would be many things to consider for it to become a global currency.
Bitcoin now is able to used in an international currency but it can not spend it in offline method because there is not real coin as this moment, but i think bitcoin now is global currency which can be use it in online method. |
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bryant.coleman
Legendary
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Activity: 3654
Merit: 1217
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September 21, 2016, 08:02:44 AM |
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It could be possible but not eventually. There would be many things to consider for it to become a global currency.
Bitcoin now is able to used in an international currency but it can not spend it in offline method because there is not real coin as this moment, but i think bitcoin now is global currency which can be use it in online method. First, Bitcoin needs to establish itself as a "currency". Right now only 2 or 3 countries recognize Bitcoin as a form of currency. The usage is also quite low, and daily transaction volumes amount to less than $10 million USD. Compare this to the forex volumes of hundreds of billions of USD for the major world currencies such as the US Dollar and UK Pound. |
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chaser15
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Activity: 2688
Merit: 1065
Undeads.com - P2E Runner Game
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September 21, 2016, 01:52:32 PM |
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One of the primary reasons why Bitcoin has the ability to become very very popular that it'll eventually become scarce. Bitcoin can be used anywhere in the world, thus, it's a currency that can conquer the world of currencies. Right now, dollar seem to be the most universal fiat. But if you're going to pay a Philippine Peso in a country like Vietnam, they wouldn't recognize that money. Bitcoin, on the other hand, no matter where you are, it can be recognized.
Very well said dude, bitcoin has a great potential to be the most popular online currency in the future as anywhere it can be accepted if people will adopt on it, however the only problem I can see is on the actions of the government towards bitcoin, they are aware already of bitcoin and its popularity nowadays, if they will not support it, we will be having a problem promoting this to the majority of the people. Bitcoin will be the most popular currency online since in the first place, bitcoin was made purely on online transactions. Fiat will take care most the physical transaction and bitcoin will dominates the online transactions of sending and receiving money. and we are seeing that every person with their business is going to shift to online world now everyone prefer digital system of business so the use of fiat will remain much lower and bitcoin will have dominance over all other currencies. In the coming future we will see that even governments will approve bitcoin for their financial affairs and will support that currency as this currency is a worldwide currency which have no any single nation owner. Well Im not sure of that. There are lots online transactions now but still today, fiats dominates the online transaction since banks are upgrading continously. Here in my country, bank services are really great and transferring money to other person with the same bank account is just a seconds away. But one thing for sure, even without dominance, bitcoin is good option in terms of online transacting. |
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goinmerry
Legendary
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Activity: 2940
Merit: 1083
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September 21, 2016, 01:59:01 PM |
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It could be possible but not eventually. There would be many things to consider for it to become a global currency.
Bitcoin now is able to used in an international currency but it can not spend it in offline method because there is not real coin as this moment, but i think bitcoin now is global currency which can be use it in online method. First, Bitcoin needs to establish itself as a "currency". Right now only 2 or 3 countries recognize Bitcoin as a form of currency. The usage is also quite low, and daily transaction volumes amount to less than $10 million USD. Compare this to the forex volumes of hundreds of billions of USD for the major world currencies such as the US Dollar and UK Pound. But the mere fact that a big amount like $10 million is a good start for bitcoin. It is still young so it will grow more in the coming months or years and I think we will somehow reach it near those price from major currencies. |
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Doamader
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September 21, 2016, 02:25:51 PM |
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knowing that bitcoin has a limited circulation and just a few bitcoins are into transactions, its already a great ammount, since no banks or entity is around bitcoin, fiat has always countries interest and support.
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Carmen_Sandiego
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September 22, 2016, 06:59:34 AM |
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It is a global currency, in my opinion... still needs to be used by more people, of course. But I'm sure that the future may bring great possibilities for it.
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Indrawan77
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September 22, 2016, 07:03:46 AM |
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It could be possible but not eventually. There would be many things to consider for it to become a global currency.
Bitcoin now is able to used in an international currency but it can not spend it in offline method because there is not real coin as this moment, but i think bitcoin now is global currency which can be use it in online method. First, Bitcoin needs to establish itself as a "currency". Right now only 2 or 3 countries recognize Bitcoin as a form of currency. The usage is also quite low, and daily transaction volumes amount to less than $10 million USD. Compare this to the forex volumes of hundreds of billions of USD for the major world currencies such as the US Dollar and UK Pound. Bitcoin still need to be more famous, in order to become a global currency, for now its still too little user know bitcoin and using bitcoin as transaction, and bitcoin still need to develop to upgrade the transaction speed, so it's still a long way to become global currency |
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Fraxinus
Legendary
Offline
Activity: 1274
Merit: 1000
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September 22, 2016, 07:31:54 AM |
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It could be possible but not eventually. There would be many things to consider for it to become a global currency.
Bitcoin now is able to used in an international currency but it can not spend it in offline method because there is not real coin as this moment, but i think bitcoin now is global currency which can be use it in online method. First, Bitcoin needs to establish itself as a "currency". Right now only 2 or 3 countries recognize Bitcoin as a form of currency. The usage is also quite low, and daily transaction volumes amount to less than $10 million USD. Compare this to the forex volumes of hundreds of billions of USD for the major world currencies such as the US Dollar and UK Pound. Bitcoin still need to be more famous, in order to become a global currency, for now its still too little user know bitcoin and using bitcoin as transaction, and bitcoin still need to develop to upgrade the transaction speed, so it's still a long way to become global currency Exactly,there are just not enough people using BTC right now and it has to change in order for BTC ro reach such a level.I really hope this happens as I want to pay with BTC  |
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groll
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September 22, 2016, 07:42:51 AM |
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It could be possible but not eventually. There would be many things to consider for it to become a global currency.
Bitcoin now is able to used in an international currency but it can not spend it in offline method because there is not real coin as this moment, but i think bitcoin now is global currency which can be use it in online method. First, Bitcoin needs to establish itself as a "currency". Right now only 2 or 3 countries recognize Bitcoin as a form of currency. The usage is also quite low, and daily transaction volumes amount to less than $10 million USD. Compare this to the forex volumes of hundreds of billions of USD for the major world currencies such as the US Dollar and UK Pound. Bitcoin still need to be more famous, in order to become a global currency, for now its still too little user know bitcoin and using bitcoin as transaction, and bitcoin still need to develop to upgrade the transaction speed, so it's still a long way to become global currency Exactly,there are just not enough people using BTC right now and it has to change in order for BTC ro reach such a level.I really hope this happens as I want to pay with BTC Yes it will become famous. The news that I read here on thread stated that New York judge ruled out that bitcoin is a legal currency. So it will speed up its popularity on people who do not and have little knowledge on bitcoin. Plus, it will gain curiosity to people who are afraid on using bitcoin as currency. They will start on investing on it, maybe. There is really a good time for everything. |
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Ulloa
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September 22, 2016, 08:02:28 AM |
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Technically bitcoin has always been a global currency but just not globally used as much as we would prefer ofcourse.
But this can change and it should change. Once people realise it's better than fiat then everybody will use and accept it causing it to explode.
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diodio5
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September 22, 2016, 08:46:49 AM |
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My answer would be that's true. Bitcoin has become a global currency, in Australia for example, btc will save for people hundreds of billions of dollars per year, due to transactions fees.
I was quite amazed by bitcoin user growth in Asia and Australia, there may be some communities there so bitcoin bitcoin can develop quite rapidly there, I hope bitcoin will continue to spread throughout the world, not only in Australia, but all over the country |
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mirakal
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Activity: 3108
Merit: 1290
Leading Crypto Sports Betting & Casino Platform
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September 22, 2016, 09:15:17 AM |
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My answer would be that's true. Bitcoin has become a global currency, in Australia for example, btc will save for people hundreds of billions of dollars per year, due to transactions fees.
I was quite amazed by bitcoin user growth in Asia and Australia, there may be some communities there so bitcoin bitcoin can develop quite rapidly there, I hope bitcoin will continue to spread throughout the world, not only in Australia, but all over the country Well, we need more time to witness that, actually we are going their and the future is bright for bitcoin, just continue to support bitcoin and we will be able to reach the promise land. It has already become a global currency for me since the world is already aware and using bitcoin. |
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Raja_MBZ
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Activity: 1862
Merit: 1505
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September 22, 2016, 02:52:22 PM |
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Bitcoin is born to become a global currency, Internet now known as global village, should have a global currency as well. Bitcoin has the potential to replace the US Dollar on internet, and honestly, it has already started to do that.
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Rostadom
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September 22, 2016, 02:55:53 PM |
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That's basically one of the privileges that you get by using Bitcoin. You don't have to worry about the location of the sender of your payment. Even if he's in the Atlantic ocean as long as there's an Internet connection, he'll be able to send you your money. Bitcoin is accepted everywhere and can be converted into almost all currencies in the world in preev.com. Bitcoin is, indeed, a global currency. |
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anonbit992
Sr. Member
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Activity: 378
Merit: 251
A Trader & An Investor
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September 22, 2016, 03:11:02 PM |
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Bitcoin is still capturing the market. People are starting to understand about the problems and issues of the Monetary policies and the ruthless printing of money without anything to back it up. This will get unfolded in the coming years and everyone will start looking for alternative sources to store wealth. Bitcoin has already been considered as an alternative investment. It's not adopted completely yet, but it will.
The Global meltdown in 2008 should have inspired satoshi nakomoto to start something innovative like bitcoin. Another global recession and we can see a big user growth for bitcoin. I am not happy with global recession like any normal person, but the authorities have screwed up and now like it or not we all have pay a price.
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pitham1
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September 22, 2016, 03:14:16 PM |
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Bitcoin is born to become a global currency, Internet now known as global village, should have a global currency as well. Bitcoin has the potential to replace the US Dollar on internet, and honestly, it has already started to do that.
It has the potential, but will governments and vested interests allow it to do so? We have already seen many governments banning the use of cryptocurrencies. |
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Fraxinus
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Activity: 1274
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September 22, 2016, 04:55:09 PM |
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Bitcoin is born to become a global currency, Internet now known as global village, should have a global currency as well. Bitcoin has the potential to replace the US Dollar on internet, and honestly, it has already started to do that.
Online I think there's more room to grow,however I agree that it's very spread online and maybe prevails the cash,there need to be more retailers accepting BTC really  |
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bitcoinisbest
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September 22, 2016, 05:30:57 PM |
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Bitcoin has a very good features and advancement of technology will make it more powerful. Only thing is the stability of some sort will help it to be become global currency in coming time.
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upsidedown75
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Activity: 1288
Merit: 1036
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September 22, 2016, 05:34:35 PM |
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Bitcoin has a very good features and advancement of technology will make it more powerful. Only thing is the stability of some sort will help it to be become global currency in coming time.
Other than the inherited advantages, the real power will come into bitcoin system only when more people will be adopting it. Until then expecting bitcoin to become a global currency is meaningless, we need to promote bitcoin heavily to reach the very big achievement of becoming global currency. |
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