Bitcoin is Becoming a Global Currency

[biggerbig]

I'm pretty sure that Bitcoin is the future but as for now people are still   not use to/ don't know about   bitcoin or virtual currency in general. For example most of my friends don't know any thing about BTC and don't care. Even if I'm willing to explain it to them they still refuse to use btc or some of them even are not interested in my explanations. Maybe the right way for bitcoin is to advertise itself in some way? maybe on some e-sports event or in some ad on tv?

Certainly Bitcoin is the future. I would like to know are your friends interested in tech at all? Because I've told my few non-techie friends about Bitcoins and they don't care about it.

Some of them are interested in tech. But most of them are just using all sorts of tech and don't have any idea how it works. I'm no genius but I'm curious how some things work and how some things are made. So BTC is abstraction for them and they don't care, until it will be common as using net in your mobile

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[traderbit]

when fiat will worth near nothing BTC may be The world currency for future generation

[waterpile]

when fiat will worth near nothing BTC may be The world currency for future generation

and thats not likely going to happen and also btc being a global currency..

[soowein]

I believe that the other country will accept BTC for payment and exchange it as a official currency.

No other way , so they had to accept it.

The only problem is the time !

[jt byte]

I think I saw a infographic somewhere stating for BTC to be 1% of the world economy, it would have to be priced around $10,000 or more for 1 bitcoin

[gentlemand]

I think I saw a infographic somewhere stating for BTC to be 1% of the world economy, it would have to be priced around $10,000 or more for 1 bitcoin

Have a play with this - http://worldbitcoinnetwork.com/BitcoinPriceModel-Alpha.html

It gives plenty of ideas for possible future developments.

[zimmah]

For a given country's population, if the share of bitcoiners was the same in every country, Americans would only make 5% of all transactions. On the other hand, if using bitcoin is relative to the available wealth, the U.S. will keep on dominating bitcoin for many more years.

Except eventually they will bleed dry because America doesn't export anything of value. Countries that rely heavily on import with almost no export will be hurt in a gold or commodity based currency like Bitcoin.

This is because for every product you import, your country will lose Bitcoin.

Right now America can sustain their way of life by just printing more dollars, and the inflation will not only hit America, but the whole world. So America is basically stealing wealth from the whole world by importing goods with infinite dollars. Once Bitcoin becomes mainstream and dollars become relics of the past, America will need to find export products or else their economy will collapse, they can't print their way out of this. Even if they'd own every single Bitcoin, they minute they import something the world will demand something of equal value back, so eventually they either need to export or hand over some bitcoins.

This means wealth will theoretically become more evenly distributed. You can get a huge head starts by investing early, but once Bitcoin is the 'reserve currency' of the world you will eventually have to do something productive or accept the fact that you will eventually bleed dry.

[deisik]

For a given country's population, if the share of bitcoiners was the same in every country, Americans would only make 5% of all transactions. On the other hand, if using bitcoin is relative to the available wealth, the U.S. will keep on dominating bitcoin for many more years.

Except eventually they will bleed dry because America doesn't export anything of value. Countries that rely heavily on import with almost no export will be hurt in a gold or commodity based currency like Bitcoin.

This is because for every product you import, your country will lose Bitcoin.

Right now America can sustain their way of life by just printing more dollars, and the inflation will not only hit America, but the whole world. So America is basically stealing wealth from the whole world by importing goods with infinite dollars. Once Bitcoin becomes mainstream and dollars become relics of the past, America will need to find export products or else their economy will collapse, they can't print their way out of this. Even if they'd own every single Bitcoin, they minute they import something the world will demand something of equal value back, so eventually they either need to export or hand over some bitcoins.

They can always start another "war on terrorism". Oh, wait, that's what they are doing right now in Iraq. Not that ISIS are angels in the flesh or anything of the kind, but weren't the Americans the ones who had toppled Saddam Hussein and unleashed chaos in this wretched country? Aren't they the ones who tried to do the same in Syria and recently in Ukraine?

[Erdogan]

For a given country's population, if the share of bitcoiners was the same in every country, Americans would only make 5% of all transactions. On the other hand, if using bitcoin is relative to the available wealth, the U.S. will keep on dominating bitcoin for many more years.

Except eventually they will bleed dry because America doesn't export anything of value. Countries that rely heavily on import with almost no export will be hurt in a gold or commodity based currency like Bitcoin.

This is because for every product you import, your country will lose Bitcoin.

Right now America can sustain their way of life by just printing more dollars, and the inflation will not only hit America, but the whole world. So America is basically stealing wealth from the whole world by importing goods with infinite dollars. Once Bitcoin becomes mainstream and dollars become relics of the past, America will need to find export products or else their economy will collapse, they can't print their way out of this. Even if they'd own every single Bitcoin, they minute they import something the world will demand something of equal value back, so eventually they either need to export or hand over some bitcoins.

This means wealth will theoretically become more evenly distributed. You can get a huge head starts by investing early, but once Bitcoin is the 'reserve currency' of the world you will eventually have to do something productive or accept the fact that you will eventually bleed dry.

That's right. The emerging markets will eventually have all the bitcoins, and we will have to send over some valuable goods to get them back.

[loan4]

For the first time, when I look at the offers on LocalBitcoins.com, there are a half-dozen currencies ahead of the US dollar, offering a higher price for Bitcoin than US dollar users.

Euros, South African Rands, New Zealand Dollars, Hong Kong Dollars, Polish Zloty, Malaysian Ringgits.

It is no longer just the US, EU or even China driving adoption.  There is a market for Bitcoins in major countries all over the world.

Yes, sure. Bitcoin will become a popular payment method all over the world in the future

[marcus_of_augustus]

For the first time, when I look at the offers on LocalBitcoins.com, there are a half-dozen currencies ahead of the US dollar, offering a higher price for Bitcoin than US dollar users.

Euros, South African Rands, New Zealand Dollars, Hong Kong Dollars, Polish Zloty, Malaysian Ringgits.

It is no longer just the US, EU or even China driving adoption.  There is a market for Bitcoins in major countries all over the world.

Yes, sure. Bitcoin will become a popular payment method all over the world in the future

Disruptive technologies begin by servicing niche market cases that incumbents serve poorly or not all. As the new ways take root, become stronger, better adapted and more familiar, then they start encroach on existing markets, eventually overwhelming them with better services, efficiency and economies of scale. Expect the peripheral economies and niche markets inside the large countries, to lead the way with real bitcoin economic activity. Bitcoin speculative activity however could well be concentrated in the large centers since these are basically just speculative hubs now after 4 decades of fiat financialisation of the real economy led by central banks driven on by predatory multinational banking mega-corporations.

[foxbitcoin]

Governments will not accept to see their currency lose value, but they will also realize that they can't ban bitcoin.

[ahmedjamal1998]

Just to join the thread

if you check , there are alot of offers in Egypt too.
Yes, it's not that popular in here but it's on its way to be....

[ShintoshiBTC]

For the first time, when I look at the offers on LocalBitcoins.com, there are a half-dozen currencies ahead of the US dollar, offering a higher price for Bitcoin than US dollar users.

Euros, South African Rands, New Zealand Dollars, Hong Kong Dollars, Polish Zloty, Malaysian Ringgits.

It is no longer just the US, EU or even China driving adoption.  There is a market for Bitcoins in major countries all over the world.

Then why is the Bitcoin price keeps stalling at $250?

[Denker]

Governments will not accept to see their currency lose value, but they will also realize that they can't ban bitcoin.

Right! So finally they will stop fighting and try to make a use of it. Something I would totally be ok with.Give them a piece of the pie.But just a piece of course!

[Jeremycoin]

Well, in my country BTCitcoin doesn't have law
So we can use BTCitcoin as we want
And also with our own risk

[bornil267645]

Yup, that's a pretty positive site. But the worrying part is, people within it's community is losing hope. People who don't know anything about the bitcoin market, invested solely because he saw it on the internet, or in friends android or by seeing the neighbor  , are creeping up bad influences. We need to stop that.

And also need Bitcoin here in Bangladesh.

[erikalui]

For the first time, when I look at the offers on LocalBitcoins.com, there are a half-dozen currencies ahead of the US dollar, offering a higher price for Bitcoin than US dollar users.

Euros, South African Rands, New Zealand Dollars, Hong Kong Dollars, Polish Zloty, Malaysian Ringgits.

It is no longer just the US, EU or even China driving adoption.  There is a market for Bitcoins in major countries all over the world.

There are few buyers who offer a higher price in bitcoins as they are mostly in urgent need to buy bitcoins and invest it in some website or purposes like gambling. In my country India, I dint notice anyone offering higher than the market price unfortunately.

[maku]

Do you know what is probably the biggest obstacle in regards to mainstream adoption of bitcoin by the general public? it is conservatism towards money amongst a mass populace who do not appreciate the way 'the dollar in your pocket' has been successfully eroded by inflation, government debt and of course the massive madness of quantitative easing.

[aso118]

Do you know what is probably the biggest obstacle in regards to mainstream adoption of bitcoin by the general public? it is conservatism towards money amongst a mass populace who do not appreciate the way 'the dollar in your pocket' has been successfully eroded by inflation, government debt and of course the massive madness of quantitative easing.

The problem is people are okay with a 1% decline in value over a year. They might not even notice it.
But when they see that Bitcoin has lost 50+% of its value in a year, they are naturally reluctant to invest in it.