Bitcoin is Becoming a Global Currency

[bitlancr]

Yes I also think that bitcoin is becoming a worldwide currency and more people are interested to know about it, how they can treat it.

You can already say that the bitcoin is global currency because if you want to make use of it you will only have to have access to the internet. Everyone can make use of it so you could say that it is a global currency.

[Vaccinus]

Yes I also think that bitcoin is becoming a worldwide currency and more people are interested to know about it, how they can treat it.

You can already say that the bitcoin is global currency because if you want to make use of it you will only have to have access to the internet. Everyone can make use of it so you could say that it is a global currency.

not everyone,what about those that have no connection, how can they use bitcoin? bitcoin is not a global currency yet, it need to be accessible by everyone on the planet

[gtglener]

I think that bitcoin is already a Global Currency because many use it worldwide. May it be in terms of recharging their airtime on their smartphones, trading into fiat, or buying many things.

No currently it is not a global currency, it has to pass a lot of phases to become a global currency and for becoming global currency it has to get the support of governments especially of major powers and banks etc, to be involved in world major businesses.

Actually it can be accessed globally online. That is the difference. Actually I dont really know if I will treat it as a currency or a commodity. I think it is both just different in how you use it.

Majority of people views it as a both currency and also as an investment, but the fact is people don't use it as a currency, mostly they treat is an investment.

A number of people are using it as a currency, there are only newbies who are using this currency as investment, I think when they spend sometime in there they will understand it.

[CryingMidget]

Yes I also think that bitcoin is becoming a worldwide currency and more people are interested to know about it, how they can treat it.

You can already say that the bitcoin is global currency because if you want to make use of it you will only have to have access to the internet. Everyone can make use of it so you could say that it is a global currency.

It is a good thing that people has started seeing the goodness of the digital currency. I always say that once the superpower countries or the first world countries have accepted the bitcoins, it will be easier to roll out to the rest of the world. I do think the reason why it has been a challenges for the growth is because at first bitcoin was tainted to have been used by criminals. I also hope that the coin will be the new mode of currency in coming years.

[Barnabe]

Yes I also think that bitcoin is becoming a worldwide currency and more people are interested to know about it, how they can treat it.

You can already say that the bitcoin is global currency because if you want to make use of it you will only have to have access to the internet. Everyone can make use of it so you could say that it is a global currency.

It is a good thing that people has started seeing the goodness of the digital currency. I always say that once the superpower countries or the first world countries have accepted the bitcoins, it will be easier to roll out to the rest of the world. I do think the reason why it has been a challenges for the growth is because at first bitcoin was tainted to have been used by criminals. I also hope that the coin will be the new mode of currency in coming years.

It's funny because I was rather thinking that the lower-income countries would be the ones pushing for bitcoin. They have more economical problems which could be solved by using bitcoin (inflation, unsecure banking companies and so on), so it would make sense that they have more incent to use it.

[Karolus]

It's funny because I was rather thinking that the lower-income countries would be the ones pushing for bitcoin. They have more economical problems which could be solved by using bitcoin (inflation, unsecure banking companies and so on), so it would make sense that they have more incent to use it.

Really? Lower income countries have economic problems partly because of vast amounts of tax evasion. Without adequate tax collection, how are poor countries going to pay for public education, better infrastructure, public safety, and a reliable legal system? Without those things, they will stay poor.

A lot of people want to use cryptocurrencies precisely for tax evasion. Governments don't want cryptocurrencies partly because they don't want to enable tax evasion. Tax collection requires being able to identify people and their transactions. Isn't that the opposite of what cryptocurrencies are about? And I don't see how the expansionary supply of bitcoin will reduce inflation.

[marcus_of_augustus]

It's funny because I was rather thinking that the lower-income countries would be the ones pushing for bitcoin. They have more economical problems which could be solved by using bitcoin (inflation, unsecure banking companies and so on), so it would make sense that they have more incent to use it.

Really? Lower income countries have economic problems partly because of vast amounts of tax evasion. Without adequate tax collection, how are poor countries going to pay for public education, better infrastructure, public safety, and a reliable legal system? Without those things, they will stay poor.

A lot of people want to use cryptocurrencies precisely for tax evasion. Governments don't want cryptocurrencies partly because they don't want to enable tax evasion. Tax collection requires being able to identify people and their transactions. Isn't that the opposite of what cryptocurrencies are about? And I don't see how the expansionary supply of bitcoin will reduce inflation.

most of these 'lower income' countries need bitcoin for protection from rampantly corrupt governments ... in such cases it is your duty to starve them of taxes which are levied criminally when there is no accounting for where the money gets spent/wasted

[Karolus]

most of these 'lower income' countries need bitcoin for protection from rampantly corrupt governments ... in such cases it is your duty to starve them of taxes which are levied criminally when there is no accounting for where the money gets spent/wasted

That mentality is what keeps those countries poor. Even countries with corrupt governments need tax revenue to provide for improvements. The less tax revenue, the fewer improvements. There is no way around that. Bitcoin isn't going to magically pay for public education, infrastructure, etc.

[WaffleMaster]

most of these 'lower income' countries need bitcoin for protection from rampantly corrupt governments ... in such cases it is your duty to starve them of taxes which are levied criminally when there is no accounting for where the money gets spent/wasted

That mentality is what keeps those countries poor. Even countries with corrupt governments need tax revenue to provide for improvements. The less tax revenue, the fewer improvements. There is no way around that. Bitcoin isn't going to magically pay for public education, infrastructure, etc.

Bu the thing is, in those countries, they don't use the tax money they get for public things. That's why the infrastructure is so bad. Maybe if they actually had accountability for the money then yeah it would go to good use but as it is now it just lines the politicians pockets.

[marcus_of_augustus]

most of these 'lower income' countries need bitcoin for protection from rampantly corrupt governments ... in such cases it is your duty to starve them of taxes which are levied criminally when there is no accounting for where the money gets spent/wasted

That mentality is what keeps those countries poor. Even countries with corrupt governments need tax revenue to provide for improvements. The less tax revenue, the fewer improvements. There is no way around that. Bitcoin isn't going to magically pay for public education, infrastructure, etc.

no but it could starve out all the corruption in public systems and allow for better private schools for all (which are always better quality with better societal outcomes of free-thinking individuals) and also allow for private roads, better housing, private water supplies built by communities who actually have money to spend on projects that they benefit from ... you get the picture.

Big public works projects are a magnet ofr corruption, waste and incompetence. Bitcoin could stop all this socialist bullshit that keeps countries in 3rd world status.

[Dakron]

This is possible to happen it takes more year as of this year but i think this will be stay as decentralize currency which is we can use it only in only shopping and other online transaction globally.

[Karolus]

most of these 'lower income' countries need bitcoin for protection from rampantly corrupt governments ... in such cases it is your duty to starve them of taxes which are levied criminally when there is no accounting for where the money gets spent/wasted

That mentality is what keeps those countries poor. Even countries with corrupt governments need tax revenue to provide for improvements. The less tax revenue, the fewer improvements. There is no way around that. Bitcoin isn't going to magically pay for public education, infrastructure, etc.

no but it could starve out all the corruption in public systems and allow for better private schools for all (which are always better quality with better societal outcomes of free-thinking individuals) and also allow for private roads, better housing, private water supplies built by communities who actually have money to spend on projects that they benefit from ... you get the picture.

Big public works projects are a magnet ofr corruption, waste and incompetence. Bitcoin could stop all this socialist bullshit that keeps countries in 3rd world status.

Unfortunately, I find your ideas to be incoherent. You expect corrupt politicians to legalize bitcoin so that those same corrupt politicians starve? Good luck persuading those politicians to commit suicide like that. 

I don't think poor people using bitcoin would starve corrupt politicians. Those politicians probably already have enough assets allowing them to live off the income from their investments. The poor people in low income countries are more likely to starve themselves by impoverishing their countries even more through tax evasion.

[marcus_of_augustus]

Unfortunately, I find your ideas to be incoherent. You expect corrupt politicians to legalize bitcoin so that those same corrupt politicians starve? Good luck persuading those politicians to commit suicide like that.

Bitcoin is not illegal, therefore it is legal. And who cares wtf corrupt politicians say anyway? That way lies slavery.

Bitcoin is designed from the ground up to resist corruption and attacks of all kinds. Good luck you and the socialists tying to stop it. People have a way of preferring good money before lies and false promises.

[danherbias07]

This is possible to happen it takes more year as of this year but i think this will be stay as decentralize currency which is we can use it only in only shopping and other online transaction globally.

That is really a good purpose so for bitcoin and the transactions are fast so online shops would love that and that could also lead to more online shops opening in the future.

[FabioDelcatto]

Bitcoin can become a global currency for sure without any doubts, I think it has a good future a head and its growing very fast.
Its just a matter of time before the bitcoin is gonna be one of them in my eyes.

[Farma]

Bitcoin can become a global currency for sure without any doubts, I think it has a good future a head and its growing very fast.
Its just a matter of time before the bitcoin is gonna be one of them in my eyes.

but I think in the future, although bitcoin become a global currency , I guess bitcoin will not be made in the form of a real, bitcoin may only be used from smarthphone alone, or may be made a special credit card bitcoin

[Colt22]

I think bitcoin will become a global currency only when we make aware everyone from this currency, and in our business we accept only bitcoin and not any other currency .

[harizen]

I think bitcoin will become a global currency only when we make aware everyone from this currency, and in our business we accept only bitcoin and not any other currency .

Awareness isn't quite a big deal. Actually with the current of numbers of bitcoin users it's enough to become this crypto a global currency. But still it isn't considered as a global currency? Because in most of the cases, bitcoin used to get profits. Yes, an investment and that isn't the role of a global currency.

[JohnyWalkerUK]

I think bitcoin will become a global currency only when we make aware everyone from this currency, and in our business we accept only bitcoin and not any other currency .

Awareness isn't quite a big deal. Actually with the current of numbers of bitcoin users it's enough to become this crypto a global currency. But still it isn't considered as a global currency? Because in most of the cases, bitcoin used to get profits. Yes, an investment and that isn't the role of a global currency.

Due to the current low adoption rate, there are still long way to go before the price will be stable. As Bitcoin is improving in its features and usability, the advantages of it is showing up gradually and ppl will realize it.
On the other side, USD dollar will show its disadvantages of being centralized currency, such as inflation, transfer fee, counterfeited notes, space to carry etc.

[Karolus]

The problem with bitcoin is precisely that it doesn't offer advantages over cash for the extreme majority of people. Consider the advantages of the dollar:

* almost universal acceptance

* up to $250,000 in government-funded depositor insurance per bank account, at least in the U.S.

* reimbursement from banks if an account is hacked and money is stolen, or if there is credit card fraud or check fraud

* chargebacks available for purchases made with bank cards

* enough stability that it serves as a store of value or unit of account for assets worth hundreds of trillions of dollars

Regarding inflation of the dollar:

* inflation also existed when currencies were based on gold or silver

* a low amount of inflation is healthy and desirable for an economy; when people expect prices to rise, they are less likely to delay purchases, and that consumption helps the job market; by comparison, zero inflation or deflation would encourage delayed purchases, which would would hurt job growth

* the amount of bitcoin keeps increasing, and a growing money supply can be inflationary