Bitcoin is Becoming a Global Currency

[OrangeII]

I wouldn't technically consider Bitcoin as a global currency, as it still isn't very widely known. Countries tend to like to have total control of their coin, and since Bitcoin is a P2P currency, their only kind of control is having a huge share of the 21 million coins. I really don't think click hereit will become a global currency, as it is quite an unstable little thing.

well maybe still very difficult to believe for the moment, but bitcoin has the potential to become a global currency. Well, bitcoin might become a global currency for on the internet. the use of very simple and super fast transaction, make a lot of people become very comfortable to use. Well, we just need to wait a few more years until the potential benefits bitcoin

[darklus123]

I hope that one day it will become a currency Bitcoin global great and I hope it is used by many people and many countries I believe it will happen in the future. But maybe it will happen for a long time because of limited distribution sangant bitcoin.

It could really happen and i can really feel it. As more and more companies and guess what they are not just a small ones they are a big whales in the marketing industries are trying to adopt this certain currency which we are using called bitcoin.

Big companies know already the potential of bitcoin however due to the price volatility of bitcoin not all industries has a viable business plan using bitcoin, for merchant it is not good as they may lose for big price fluctuation and sometimes could lead to price fall back. They do not want that as they want to be safe.

Actually this is not a big issue anymore. Like the current online wallet that i am using which promotes a fiat currency wallet. So everytime to merchant received their payment then they can directly move their funds into fiat wallet.

[Senor.Bla]

I hope that one day it will become a currency Bitcoin global great and I hope it is used by many people and many countries I believe it will happen in the future. But maybe it will happen for a long time because of limited distribution sangant bitcoin.

It could really happen and i can really feel it. As more and more companies and guess what they are not just a small ones they are a big whales in the marketing industries are trying to adopt this certain currency which we are using called bitcoin.

Big companies know already the potential of bitcoin however due to the price volatility of bitcoin not all industries has a viable business plan using bitcoin, for merchant it is not good as they may lose for big price fluctuation and sometimes could lead to price fall back. They do not want that as they want to be safe.

Actually this is not a big issue anymore. Like the current online wallet that i am using which promotes a fiat currency wallet. So everytime to merchant received their payment then they can directly move their funds into fiat wallet.

it is today easier to quickly convert from bitcoin to fiat and back, but as a merchant you still have the issue of pricing the items and book keeping and so on. this is still not to easy, but i think we will get there.

[deisik]

it is today easier to quickly convert from bitcoin to fiat and back, but as a merchant you still have the issue of pricing the items and book keeping and so on. this is still not to easy, but i think we will get there.

Many exporters (and I guess importers as well) are essentially in the same conditions. For proper accounting and paying taxes they have to convert their export proceeds in foreign currency from that currency into their national currency. They may also have to sell some part of the profits earned to a local central bank or on the currency market. In my opinion, Bitcoin as a means of payment and currency in its own right should be treated accordingly, i.e. as a foreign currency...

Until governments decide to use Bitcoin as a legal tender, of course

[Senor.Bla]

it is today easier to quickly convert from bitcoin to fiat and back, but as a merchant you still have the issue of pricing the items and book keeping and so on. this is still not to easy, but i think we will get there.

Many exporters (and I guess importers as well) are essentially in the same conditions. For proper accounting and paying taxes they have to convert their export proceeds in foreign currency from that currency into their national currency. They may also have to sell some part of the profits earned to a local central bank or on the currency market. In my opinion, Bitcoin as a means of payment and currency in its own right should be treated accordingly, i.e. as a foreign currency...

Until governments decide to use Bitcoin as a legal tender, of course

true but i still see to things to add. exporters or people who have the problem to deal with multiple currencies have to do it. they would stop doing this if it was not necessary. so convincing somebody, who right now does not have to do this, to do this because of bitcoin is hard.
the other thing is that government are familiar with this process with the big currencies. if you have an unusual currency or bitcoin it is somehow harder for them to deal with it. just for tax purposes they have daily exchange rates you can use and nobody will question this, but with bitcoin you would need to do extra work and prove and document everything. nobody likes extra work.

[diodio5]

I wouldn't technically consider Bitcoin as a global currency, as it still isn't very widely known. Countries tend to like to have total control of their coin, and since Bitcoin is a P2P currency, their only kind of control is having a huge share of the 21 million coins. I really don't think click hereit will become a global currency, as it is quite an unstable little thing.

I think although bitcoin is not widely used, but I think bitcoin is already used by many people around the world, and I think automatically bitcoin is a global currency #IMO

[deisik]

it is today easier to quickly convert from bitcoin to fiat and back, but as a merchant you still have the issue of pricing the items and book keeping and so on. this is still not to easy, but i think we will get there.

Many exporters (and I guess importers as well) are essentially in the same conditions. For proper accounting and paying taxes they have to convert their export proceeds in foreign currency from that currency into their national currency. They may also have to sell some part of the profits earned to a local central bank or on the currency market. In my opinion, Bitcoin as a means of payment and currency in its own right should be treated accordingly, i.e. as a foreign currency...

Until governments decide to use Bitcoin as a legal tender, of course

true but i still see to things to add. exporters or people who have the problem to deal with multiple currencies have to do it. they would stop doing this if it was not necessary. so convincing somebody, who right now does not have to do this, to do this because of bitcoin is hard.
the other thing is that government are familiar with this process with the big currencies. if you have an unusual currency or bitcoin it is somehow harder for them to deal with it. just for tax purposes they have daily exchange rates you can use and nobody will question this, but with bitcoin you would need to do extra work and prove and document everything. nobody likes extra work.

I certainly understand the pains that a lot of merchants wanting to use Bitcoin along with their local currency might feel. But with or without Bitcoin, they will have to tackle this issue of dealing with foreign currencies sooner or later, and I would say rather sooner than later, especially if they want, for example, to go international. Many online resellers like Amazon are selling their goods all over the planet as payment processing platforms like PayPal commonly and ordinarily handle the conversion of a multitude of currencies...

The world is definitely becoming a tighter place over time

[betohell]

I wouldn't technically consider Bitcoin as a global currency, as it still isn't very widely known. Countries tend to like to have total control of their coin, and since Bitcoin is a P2P currency, their only kind of control is having a huge share of the 21 million coins. I really don't think click hereit will become a global currency, as it is quite an unstable little thing.

well maybe still very difficult to believe for the moment, but bitcoin has the potential to become a global currency. Well, bitcoin might become a global currency for on the internet. the use of very simple and super fast transaction, make a lot of people become very comfortable to use. Well, we just need to wait a few more years until the potential benefits bitcoin

bitcoin has something unique that is not shared by other currency. This makes bitcoin special and many people interested in bitcoin, this is the potential for bitcoin to continue to grow and become a global currency

[Senor.Bla]

it is today easier to quickly convert from bitcoin to fiat and back, but as a merchant you still have the issue of pricing the items and book keeping and so on. this is still not to easy, but i think we will get there.

Many exporters (and I guess importers as well) are essentially in the same conditions. For proper accounting and paying taxes they have to convert their export proceeds in foreign currency from that currency into their national currency. They may also have to sell some part of the profits earned to a local central bank or on the currency market. In my opinion, Bitcoin as a means of payment and currency in its own right should be treated accordingly, i.e. as a foreign currency...

Until governments decide to use Bitcoin as a legal tender, of course

true but i still see to things to add. exporters or people who have the problem to deal with multiple currencies have to do it. they would stop doing this if it was not necessary. so convincing somebody, who right now does not have to do this, to do this because of bitcoin is hard.
the other thing is that government are familiar with this process with the big currencies. if you have an unusual currency or bitcoin it is somehow harder for them to deal with it. just for tax purposes they have daily exchange rates you can use and nobody will question this, but with bitcoin you would need to do extra work and prove and document everything. nobody likes extra work.

I certainly understand the pains that a lot of merchants wanting to use Bitcoin along with their local currency might feel. But with or without Bitcoin, they will have to tackle this issue of dealing with foreign currencies sooner or later, and I would say rather sooner than later, especially if they want, for example, to go international. Many online resellers like Amazon are selling their goods all over the planet as payment processing platforms like PayPal commonly and ordinarily handle the conversion of a multitude of currencies...

The world is definitely becoming a tighter place over time

what is interesting is that amazon, ebay and such companies have different sites for each country with different products and you need new accounts if you want to shop at another counties site (at least this is the case with amazon). i guess this has not only todo something with the different laws in those countries, but also with the used currency which is always the national one. they maybe offer a service to exchange it, but the books are pretty much in the native currency.

[EdenHazard]

I wouldn't technically consider Bitcoin as a global currency, as it still isn't very widely known. Countries tend to like to have total control of their coin, and since Bitcoin is a P2P currency, their only kind of control is having a huge share of the 21 million coins. I really don't think click hereit will become a global currency, as it is quite an unstable little thing.

I think although bitcoin is not widely used, but I think bitcoin is already used by many people around the world, and I think automatically bitcoin is a global currency #IMO

actually it is depends on how you define global currency.

i personally define it as a currency that used in different place , different countries and acclaimed globally. bitcoin have been included in that category so yes bitcoin have considered as global currency.

[thezerg]

In a few years we are going to be mainstream and everyone will knowns our name.

[goldcoinminer]

In a few years we are going to be mainstream and everyone will knowns our name.

Wow that was intense dude, what is you basis on that? Everyone seems impossible in the future? We will still be in the crypto and it's only limited number of people who will avail because only few understands bitcoin and you cannot make the others adopt by not understanding first.

[Pursuer]

in my opinion, bitcoin unlikely to be a global currency, why? when I saw the article about bitcoin often I find that bitcoin is banned in some countries. it makes it difficult to become a global currency bitcoin. besides that, bitcoin is also famous as the currency used for illegal activities like in deep web and any other. that makes me pessimistic become a global currency bitcoin.

Even if it's ban, the government cannot make it completely ban, we are living online so we know how to bypass so we can still use our bitcoins, and even if there are countries that ban bitcoin still more countries are using bitcoin. Anyway, we do not need the government because we are decentralized.

true but you have to consider this. if many countries ban bitcoin it will become harder and harder. and the price would take a hit i guess. also this would limit the banned countries to online businesses. i hope bitcoin will be more available offline in the future and this would set us back. 

when did you see all countries ban something this stupidly ever?
that will never happen. as we can see today after this many years since bitcoin introduction in 2008 (8 years) only a couple of random third world countries banned bitcoin usage and no one cares about it.

and meanwhile some advanced first world countries like Japan have even announced bitcoin to be a real legitimate currency.

[nerFohanzo]

It wont be accepted as a global currency until some regulations are made. But digital currencies will be the future but not very soon as we expect. Bitcoin will force governments to take digital currency right away.

[Senor.Bla]

in my opinion, bitcoin unlikely to be a global currency, why? when I saw the article about bitcoin often I find that bitcoin is banned in some countries. it makes it difficult to become a global currency bitcoin. besides that, bitcoin is also famous as the currency used for illegal activities like in deep web and any other. that makes me pessimistic become a global currency bitcoin.

Even if it's ban, the government cannot make it completely ban, we are living online so we know how to bypass so we can still use our bitcoins, and even if there are countries that ban bitcoin still more countries are using bitcoin. Anyway, we do not need the government because we are decentralized.

true but you have to consider this. if many countries ban bitcoin it will become harder and harder. and the price would take a hit i guess. also this would limit the banned countries to online businesses. i hope bitcoin will be more available offline in the future and this would set us back. 

when did you see all countries ban something this stupidly ever?
that will never happen. as we can see today after this many years since bitcoin introduction in 2008 (8 years) only a couple of random third world countries banned bitcoin usage and no one cares about it.

and meanwhile some advanced first world countries like Japan have even announced bitcoin to be a real legitimate currency.

would banning bitcoin be a stupid move? i think so, but to some governments it might look like an good idea. most likely the people in charge would not even understand what they are banning, but some trusted adviser told them to do it, because bitcoin is bad. people are dumb, just look at some public votes in the world. would a ban surprise you? it is not really about if this would be a stupid move or not, but if this is possible.

[Xester]

It wont be accepted as a global currency until some regulations are made. But digital currencies will be the future but not very soon as we expect. Bitcoin will force governments to take digital currency right away.

Yes, government should recognized the bitcoin first so that they can create a law in regards with bitcoins. bitcoins as global currency? why not, low cost of fee could be a good help but i guess, once the government took care the rules on using bitcoins, i am sure that tax will also applied on every transactions, i am wondering of all merchants will accept bitcoins, will they increase fees on every transactions? What if there is no connection? How it can be use?

[Potato Chips]

Global currency is a currency that is accepted for most transaction especially international transactions.  And I think as of now its either USD or Euro.

Bitcoin is an alternative payment system and I think it is designed for all transaction to the point that most people call it  "One Currency For All"

However, As of now there are a very limited number of merchants who accepts bitcoin but it is definitely increasing so if bitcoin will become widely used all around the world then it can be.

[altcoinnxt]

Yes bitcoin is used all over the world but only a few thousand in every country if bitcoin wants to become a global currency i think is should be used by 1/4 or half the human population.

[stark101]

Bitcoin is becoming a global currency? i hope so. Because bitcoin is used by the people in the whole world. If this things happen it is good for me, is simply because it's not ruled or controlled nor issued by the government or bank. It is more usable in terms of transactions and it have no tax.

[Frank Alister]

I'm not surprised about it. With all the benefits that BTC has, it's very logical that is becoming a global currency. More and  more people start using it and take advantage every single day.