Bitcoin is Becoming a Global Currency

[HarHarHar9965]

I'm not sure I would class some of those countries as 'major' ... but there is a general sense now that bitcoins are leaving the USA, and at an accelerating rate.

You are correcct. It has not spread across a lot of countries. But not all the major countries , cant say that. But it has become a little more reputed now. I hope it becomes more popular and spreads across the whole globe so that all people can witness its brilliance and promising future plans.

Even if a person lives at some part of the world where he cannot have internet or something, it doesn't matter. Even with modest SMS messaging on your basic phone, you can transact business globally. You are the bank. Buy, sell and trade worldwide, with no banking fees. No car, debit card or ID required. Like a boss

So all the people saying that bitcoin cannot be reached into third world countries because they don't have the appropriate infrastructure, they just need knowledge about it and a social offering by a trading company which should take it as an opportunity of business to help people without smartphones set up their wallets and then give them access through basic sms phones. A

Yes they need a devices that can have a wallet so that they can stored they coins, but i think third world country can't adopt bitcoin right now maybe some day.

There is a huge market out there for so many wallet companies and for so many companies which are bitcoin enthusiasts, they should take some real developement measures to gain this audience and benefit from the rise. Better marketing will lead to smarter adoption bringing in much revenue. It is an advantage for all the bitcoin users so we should support such a cause.

Yeah we all know that company with a business with bitcoin are do things that can affect the growth rate of annual income of their company, Yes company are so very enthusiastic with bitcoin, but some of company do bad things to earn bitcoin, so we can say that we can't depend on company.

There are service providers which might notice an annual increase in their sales if they include bitcoin as a payment gateway, the more use and trade of btc increases thereby increasing price of btc in the market, the price of btc which they receive in exchange of providing these services also increase, at the same time. Thus, they end up making as much money as much as they accept it

[marcus_of_augustus]

I think it stands no chance to become a sort of global currency, because of the bandwith and storage limitations of the nodes. Perhaps all the cryptocurrencies together can achieve this, but not bitcoin by itself.

All you super-optimistic guys should also take a look from an engineering perspective, in my opinion. Every transaction needs let's say 200 bytes, which need to be propagated across the whole network, and then permanently stored on the blockchain. This is not for free and has it's limits. Today it can handle 7 transactions per second at most, imagine what millions of transactions per second would do to it.

Yes, every transaction takes around 200 bytes but not every transaction has to be broadcast or permanently stored on the blockchain. Only those transactions that can afford the full security of the blockchain should be broadcast. Millions of valid bitcoin transactions per second can take place without being broadcast to the bitcoin settlement network but only disputed transactions and final settlements need to afford the full security of blockchain arbitration.

[HeroCat]

Yes, that's true. BTC now is around the world  I think, because BTC is first - first comes, first served 

[dodgecharger]

as bitcoin matures and stabilizes any country that has a financial crisis's people will get to consider it as an alternative . I think the network effects of this type of adoption are what will allow bitcoin to become the world's reserve currency

[Clint]

Great news! Hope it can replace some currencies in the future. Maybe bitcoin can be what it use to be again.

[HarHarHar9965]

As of now also no country is officially accepting bitcoin as a currency. It is still a new technology so just invest very small % to take advantage if it grows. But do not put all your savings here.

Here I must say your information is little outdated.Australia is the first country which begins to accept Bitcoin as currency.Just few days ago they officially announced that Bitcoin will be recognized as currency from now onward in Australia.

Well actually Australia has not accepted bitcoin officially yet, so there is still no country that accept bitcoin so far.

Australia has displayed its support for bitcoin by making good rules and regulations in terms of bitcoins, they have officially tweaked their laws just so bitcoin expands, most of the crypto business owners are Australia-based and there is a lot of adoption of bitcoin in Australia, I think they have accepted bitcoin very well. What is your definition of acceptance, make it their national currency? lol bro

[MinerHQ]

As of now also no country is officially accepting bitcoin as a currency. It is still a new technology so just invest very small % to take advantage if it grows. But do not put all your savings here.

Here I must say your information is little outdated.Australia is the first country which begins to accept Bitcoin as currency.Just few days ago they officially announced that Bitcoin will be recognized as currency from now onward in Australia.

Well actually Australia has not accepted bitcoin officially yet, so there is still no country that accept bitcoin so far.

Australia has displayed its support for bitcoin by making good rules and regulations in terms of bitcoins, they have officially tweaked their laws just so bitcoin expands, most of the crypto business owners are Australia-based and there is a lot of adoption of bitcoin in Australia, I think they have accepted bitcoin very well. What is your definition of acceptance, make it their national currency? lol bro

Not only that, the price must be regulated with some big institutions otherwise traders will take the advantage will never allow grow prices.

[Eodguy149]

Great news! Hope it can replace some currencies in the future. Maybe bitcoin can be what it use to be again.

Bitcoin never stopped being "what it used to be." It makes me sad when people gauge the quality of Bitcoin by the price speculators set.

[Nizam ibrahim.P.N]

If bitcoins are used as usual currency it will be used by many people in the world. And the range of BTC reaches higher. Thus Bitcoins act as Global currency in future!!

[HarHarHar9965]

Great news! Hope it can replace some currencies in the future. Maybe bitcoin can be what it use to be again.

Bitcoin never stopped being "what it used to be." It makes me sad when people gauge the quality of Bitcoin by the price speculators set.

Get accustomed to the classic bullshit of newbies who have no knowledge about what the technology is, believe that they can be millionaires one day by buying 1 btc and they gradually either end losing it all up on gambling, then come back here as trolls and call btc a hoax, cry and say 'told you so' every time there is a slight btc crash. Classic bullshit of newbies

[ralle14]

yeah its true btc spreading and spreading
but others don't want to use them though
or don't want to accept bitcoin in their life
but we need to accept change you know

[Falconer]

Australia has displayed its support for bitcoin by making good rules and regulations in terms of bitcoins, they have officially tweaked their laws just so bitcoin expands, most of the crypto business owners are Australia-based and there is a lot of adoption of bitcoin in Australia, I think they have accepted bitcoin very well. What is your definition of acceptance, make it their national currency? lol bro

Yes, I have different definition about acceptance with legalizing. Maybe I'm wrong, but if its just about legalizing bitcoin, then there are many country which has done that. So there is no special with Australia then.

[zimmah]

Great news! Hope it can replace some currencies in the future. Maybe bitcoin can be what it use to be again.

Bitcoin never stopped being "what it used to be." It makes me sad when people gauge the quality of Bitcoin by the price speculators set.

Get accustomed to the classic bullshit of newbies who have no knowledge about what the technology is, believe that they can be millionaires one day by buying 1 btc and they gradually either end losing it all up on gambling, then come back here as trolls and call btc a hoax, cry and say 'told you so' every time there is a slight btc crash. Classic bullshit of newbies

buy and hold seems to be pretty hard for some.

[kenbytes]

bitcoin will be the next curency of the planet i think...will never die it`s to big and to many people ar using it

[Falconer]

bitcoin will be the next curency of the planet i think...will never die it`s to big and to many people ar using it

Bitcoin has been our currency, thats why we can using it. But, no one could guarantee that bitcoin will never die, and I think its still not too many people who using it, especially in third world countries.

[HarHarHar9965]

Yes, I have different definition about acceptance with legalizing. Maybe I'm wrong, but if its just about legalizing bitcoin, then there are many country which has done that. So there is no special with Australia then.

Australia is special because they have the most crypto business in their country and their rules and regulations support bitcoins, which is different from legalizing as they officially said that they like the technology too. And there are not 'so many' countries which have legalized bitcoins, they don't consider it a currency but instead treat it as capital and the profit is taxed like capital gains.

buy and hold seems to be pretty hard for some.

boohoo, go hard or go home.

[Falconer]

Yes, I have different definition about acceptance with legalizing. Maybe I'm wrong, but if its just about legalizing bitcoin, then there are many country which has done that. So there is no special with Australia then.

Australia is special because they have the most crypto business in their country and their rules and regulations support bitcoins, which is different from legalizing as they officially said that they like the technology too. And there are not 'so many' countries which have legalized bitcoins, they don't consider it a currency but instead treat it as capital and the profit is taxed like capital gains.

Not only australia, but some banks have stated that they like bitcoin technology. Beside that, there are many countries that have many crypto business in their country. Legalizing means government let bitcoin grow, no matter if it will be a currency or capital or anything else, its up to bitcoin user in their country, which there are many countries have done that.

[HarHarHar9965]

Yes, I have different definition about acceptance with legalizing. Maybe I'm wrong, but if its just about legalizing bitcoin, then there are many country which has done that. So there is no special with Australia then.

Australia is special because they have the most crypto business in their country and their rules and regulations support bitcoins, which is different from legalizing as they officially said that they like the technology too. And there are not 'so many' countries which have legalized bitcoins, they don't consider it a currency but instead treat it as capital and the profit is taxed like capital gains.

Not only australia, but some banks have stated that they like bitcoin technology. Beside that, there are many countries that have many crypto business in their country. Legalizing means government let bitcoin grow, no matter if it will be a currency or capital or anything else, its up to bitcoin user in their country, which there are many countries have done that.

yes, these countries seem to appreciate the block-chain technology a lot, while they hardly talked about bitcoin individually. I don't really think any country would come out and support bitcoin like we ideally want them to, because why the fuck would a country do that for us? The only time they'd do something like that would be strictly for personal gains, and I doubt a country would risk their money with btc, despite knowing that it would boost bitcoin like crazy. what do you think?

[MinerHQ]

bitcoin will be the next curency of the planet i think...will never die it`s to big and to many people ar using it

I think to it will be very difficult to replace any existing currencies for bitcoins. It can be considered as a alternative currency to buy online items

[Falconer]

yes, these countries seem to appreciate the block-chain technology a lot, while they hardly talked about bitcoin individually. I don't really think any country would come out and support bitcoin like we ideally want them to, because why the fuck would a country do that for us? The only time they'd do something like that would be strictly for personal gains, and I doubt a country would risk their money with btc, despite knowing that it would boost bitcoin like crazy. what do you think?

Well I agree with you about that. Governments will support something that could make its people to avoid their taxes, like bitcoin immediately. Even if they stated to support it, surely they have some plans behind that. So, to become a global currency, bitcoin doesnt need any support of government, but it only need us.