babymoney
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May 24, 2017, 05:55:09 AM |
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I would argue that in its current state, bitcoin is far from being the global decentralized currency that it was meant to be and more of a tool used for speculation. I think for it to become a currency, its price needs to stabilize to the point where people would rather spend it as opposed to holding it in hopes that its price keeps going up. WIth the price trend right now, I dont see anybody with a rational mind buying bitcoins for spending rather than an investment.
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kafiddrhman
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May 24, 2017, 05:58:07 AM |
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There is possibility that bitcoin will become a global currency and can be used in many countries, but with some negative rumors about bitcoin this seems to be a bit of an obstacle to the development of bitcoin
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Ziskinberg
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May 24, 2017, 08:21:10 AM |
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There is possibility that bitcoin will become a global currency and can be used in many countries, but with some negative rumors about bitcoin this seems to be a bit of an obstacle to the development of bitcoin
The negative rumors will remain a rumor, it will not make people panic anymore as you can see on their actions, they push the price to a high price and that means they have more support and can disregard that negative rumors. Bitcoin is not perfect but we find more benefits in using it than it's negative aspect, that's how simple it is. |
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subodhmore123aqs
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Activity: 76
Merit: 10
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May 24, 2017, 08:22:28 AM |
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Indeed its becoming Global currency...
now no more have to rely on banks, paperwork, custom issue..
we can transfer money easily from anywhere...
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Kp4everK
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May 24, 2017, 08:30:26 AM |
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Indeed its becoming Global currency...
now no more have to rely on banks, paperwork, custom issue..
we can transfer money easily from anywhere...
Yes, bitcoin is becoming a global currency, but banks will not disappear at all. They will either take bitcoin or destroy it. |
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kpcian
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May 24, 2017, 09:26:35 AM |
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from the deep observation of recent fluctuation or scenario of bitcoin, it can be said easily that bitcoin is becoming more popular and acceptable to the monetary world. basically, bitcoin is the best in a virtual world. but it needs to take some time to become a global currency. but I think it just a matter of time.
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lordquanta
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May 24, 2017, 09:29:23 AM |
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Indeed its becoming Global currency...
now no more have to rely on banks, paperwork, custom issue..
we can transfer money easily from anywhere...
No, it is not. At this stage bitcoin is NOT capable for becoming one. It is not at all scalable. Look at the clogged transaction on blockchain. US dollar is global currency and will remain so. In order to become the global currency bitcoin needs to be scalable to handle the load efficiently. |
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Ayiranorea
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Activity: 1246
Merit: 255
Leading Crypto Sports Betting & Casino Platform
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May 24, 2017, 09:31:12 AM |
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from the deep observation of recent fluctuation or scenario of bitcoin, it can be said easily that bitcoin is becoming more popular and acceptable to the monetary world. basically, bitcoin is the best in a virtual world. but it needs to take some time to become a global currency. but I think it just a matter of time.
As quoted it's a matter of time, because the way bitcoin moving forward cannot be predicted exactly. Being more popular doesn't make it a global currency but it has already got similarities of a global currency in other form due to the acceptance around the world. Monetary system will always serve as the primary and cryptocurrencies will be serving as alternates. |
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Creepings
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May 24, 2017, 09:40:56 AM |
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Indeed its becoming Global currency...
now no more have to rely on banks, paperwork, custom issue..
we can transfer money easily from anywhere...
No, it is not. At this stage bitcoin is NOT capable for becoming one. It is not at all scalable. Look at the clogged transaction on blockchain. US dollar is global currency and will remain so. In order to become the global currency bitcoin needs to be scalable to handle the load efficiently. That is right, with all of the clog in the transaction, bitcoin, becoming a global currency is really hard. If it becomes a global currency, then it means, most of the people here on Earth will be using it, so think what might happen to the transaction, imagine a one way road, with just two lane and full of cars, that is how it will be if it is not scaled. |
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babo
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Merit: 4143
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May 24, 2017, 10:57:54 AM |
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from the deep observation of recent fluctuation or scenario of bitcoin, it can be said easily that bitcoin is becoming more popular and acceptable to the monetary world. basically, bitcoin is the best in a virtual world. but it needs to take some time to become a global currency. but I think it just a matter of time.
yes sure, but actually with this long time waiting for transaction and core developers vision, bitcoin is more similar to gold and not to simple money i hope core devs do love with bu-users, because our ultimate goal is bitcoin like money, community need it i prefer is core devs to develop this |
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lighpulsar07
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May 24, 2017, 04:28:44 PM |
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no not yet bitcoin has to do a lot of things to be a global currency although bitcoin is indeed becoming popular in some countries but the problem is bitcoin just can't handle 250k- 350k transactions per day what if the transactions per day will increase because of the popularity?. we need a solution if we want bitcoin can be a global currency.
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marcuslong
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Merit: 1002
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May 24, 2017, 04:31:56 PM |
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no not yet bitcoin has to do a lot of things to be a global currency although bitcoin is indeed becoming popular in some countries but the problem is bitcoin just can't handle 250k- 350k transactions per day what if the transactions per day will increase because of the popularity?. we need a solution if we want bitcoin can be a global currency.
That is correct also they increasing every transaction fee to get funds and upgrade there system to make things normal again when we are going to try make an transaction it will gonna be back to normal real soon. But for me bitcoin is already a global currency because we can send it anywhere from the world and use anywhere as pocket money the problem on other countries is they trying to block this coins thinking it is black currency or only seen from dark net. |
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deisik
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English ⬄ Russian Translation Services
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May 24, 2017, 07:59:04 PM |
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Indeed its becoming Global currency...
now no more have to rely on banks, paperwork, custom issue..
we can transfer money easily from anywhere...
Yes, bitcoin is becoming a global currency, but banks will not disappear at all. They will either take bitcoin or destroy it They are rather going to ignore Bitcoin altogether Bitcoin is going farther and farther from becoming a viable means of payment which is what any currency is essentially about. We can't say that Bitcoin doesn't affect fiat, since it is going to expel fiat from savings and thus this fiat is set to enter circulation, maybe, increasing inflation somewhat (though the effect should be negligible, as to me), but that's what banks actually need, i.e. more fiat in circulation means more work for banks. Therefore, banks should be pro-Bitcoin on the whole. But you may choose to disagree, of course |
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Sled
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May 25, 2017, 01:32:00 AM |
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no not yet bitcoin has to do a lot of things to be a global currency although bitcoin is indeed becoming popular in some countries but the problem is bitcoin just can't handle 250k- 350k transactions per day what if the transactions per day will increase because of the popularity?. we need a solution if we want bitcoin can be a global currency.
That is correct also they increasing every transaction fee to get funds and upgrade there system to make things normal again when we are going to try make an transaction it will gonna be back to normal real soon. But for me bitcoin is already a global currency because we can send it anywhere from the world and use anywhere as pocket money the problem on other countries is they trying to block this coins thinking it is black currency or only seen from dark net. They are not increasing the fees because of the upgrade on their system. They are increasing the fee because of the miners, the miners are only capable in confirming transaction so we don't have any rights to be against to the increasing fee but to just to that. Soon the fees will increase again if there will be a lot of stuck transaction and also few miners. |
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Kasabus
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May 25, 2017, 02:14:45 AM |
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no not yet bitcoin has to do a lot of things to be a global currency although bitcoin is indeed becoming popular in some countries but the problem is bitcoin just can't handle 250k- 350k transactions per day what if the transactions per day will increase because of the popularity?. we need a solution if we want bitcoin can be a global currency.
That is correct also they increasing every transaction fee to get funds and upgrade there system to make things normal again when we are going to try make an transaction it will gonna be back to normal real soon. But for me bitcoin is already a global currency because we can send it anywhere from the world and use anywhere as pocket money the problem on other countries is they trying to block this coins thinking it is black currency or only seen from dark net. They are not increasing the fees because of the upgrade on their system. They are increasing the fee because of the miners, the miners are only capable in confirming transaction so we don't have any rights to be against to the increasing fee but to just to that. Soon the fees will increase again if there will be a lot of stuck transaction and also few miners. That's probably gonna happen and I think at this moment that btc price is surging its good to start mining, when there are more miners fees could be competitive and there will be faster transaction. |
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asdalani
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May 26, 2017, 05:38:50 PM |
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no not yet bitcoin has to do a lot of things to be a global currency although bitcoin is indeed becoming popular in some countries but the problem is bitcoin just can't handle 250k- 350k transactions per day what if the transactions per day will increase because of the popularity?. we need a solution if we want bitcoin can be a global currency.
If a popular Bitcoin Miner or a group of Bitcoin miner allows people to submit their transactions through a form then there might be a change for transaction speed development. The miners will notice that they could monetize the speeding up of transaction confirmations and they will compete on who’s faster. |
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KingdomHearts
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May 26, 2017, 09:16:41 PM |
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Indeed its becoming Global currency...
now no more have to rely on banks, paperwork, custom issue..
we can transfer money easily from anywhere...
Yes, bitcoin is becoming a global currency, but banks will not disappear at all. They will either take bitcoin or destroy it. yeah you are right that bitcoin will becoming a global currency in the future and i hope bitcoin will much more popular than USD in the future and people will be use bitcoin more usd. |
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Semar Mesem
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May 27, 2017, 02:28:42 AM |
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I noticed there is no thing that makes bitcoin becoming a global currency, the first thing to become a global currency is widely use and known (more than 50% of world population.
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MintCondition
Legendary
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Activity: 1147
Merit: 1007
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May 27, 2017, 03:57:40 AM |
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I noticed there is no thing that makes bitcoin becoming a global currency, the first thing to become a global currency is widely use and known (more than 50% of world population.
It is far from being global currency ,from it is not yet widely use and some countries were not able yet to catch up into technolgy. To be able btc knew there is a need for each country to fully use technolgy which seems impossible to happen. |
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Sled
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May 27, 2017, 04:31:38 AM |
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I noticed there is no thing that makes bitcoin becoming a global currency, the first thing to become a global currency is widely use and known (more than 50% of world population.
It is far from being global currency ,from it is not yet widely use and some countries were not able yet to catch up into technolgy. To be able btc knew there is a need for each country to fully use technolgy which seems impossible to happen. Even in the first place bitcoin is already a global currency because as long as there is an internet in a country and bitcoin is not banned there then they can still use bitcoin for their own and global doesn't mean usage of all the countries because it is all about the availability of a currency or item and that is bitcoin which is already open globally. |
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