Bitcoin Garden Forum
Cryptocurrencies => Crypto Discussion => Topic started by: Cryptoinna on June 23, 2017, 04:03:59 PM
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I think it's quite possible ....what about you?
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One of the biggest barriers that it has to overcome is the general acceptance of Bitcoin being safe and stable as there is no government regulating it, unlike most currencies. Instead, Bitcoin self-regulates and new coins are issued at the pace at which the miners produce the coins. This is a positive, though, as it is designed to be difficult to create coins so that there is a steady stream of coins being produced.
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In my opinion, this possibility will exist in the distant future. At the moment, the economy of most countries is not ready for such innovations.
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it's very interesting.
(http://i.redd.it/0uw0r8ofrdqy.png)
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It’s interesting reading opinions of people here, but I completely disagree over the chances of this happening. I really see this not happening at all! I feel Bitcoin is going to make many head turn with how it’s working, but this type of thing is ruled out as per I feel. I mostly avoid saying impossible, but here I can say and I am willing to stick to it because I know this is not going to be possible.
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With recent research suggesting that the number of active Bitcoin users is set to approach five million by 2019, the issue of whether the cryptocurrency has the potential to become a global currency is being hotly debated in both the technology and financial worlds.
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It can be possible, Bitcoin is getting popular and many are investing. I think it will be possible in the future
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I think it still needs more time to be considered as official currency. I am worry about the volatility and country's regulation that make the chance to be an official currency hard to apply. Bitcoin should fix the problems related to its negative sides to be considered for an alternative official currency.
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According to probability theory, it is quite possible. If Bitcoin becomes the official currency of one state, and this will have a positive impact on the country's economy, then other countries may follow the example of a successful country.
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to be sure bitcoin will ride back, is not possible price will remain I like the right now. as investors will continue to hunt bitcoin, so bitcoin would increasingly up
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bitcoin become an official currency? I think many will not agree with this because you know bitcoin is volatile.
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The volatile nature of BTC makes it hard to be a widely adopted or used as a currency. If a store owner accepts BTC as payment, it must prepare itself for the downfall or rise of BTC's value, same with the BTC user. It can't also be used for everyday transaction because of the scalability and transaction speed, will you wait for minutes to pay what you bought?
You can treat your BTC as a currency, but I'll have it as a store of value.
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Bitcoin was created with the dream of replacing fiat system and I think that dream will come true soon when the price of Bitcoin more stable than the current
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In some US states, like Ohio, bitcoin is a “legitimate form of currency”.
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If it is to become an official currency it is unlikely that this will happen, because every country has its own fiat currency.
if Bitcoin becomes the official currency, fiat money will not function and will have difficulties in making transactions.
because we know that not everyone knows Bitcoin
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bitcoin become an official currency? I think many will not agree with this because you know bitcoin is volatile.
I myself will not agree, because there will be many who cannot accept it. fiat money must remain, nothing can replace fiat money with anything
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I think the answer is yes because Bitcoin was created with the dream of replacing fiat currency system but it will need more time to achieve that dream
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Bitcoin is the money of the future, where times are increasingly advanced and increasingly modern, technology is also increasingly sophisticated. I am sure, someday Bitcoin will truly become the official currency in a country. And in my opinion the biggest obstacle is the unstable value of bitcoin, up and down quickly. this will be a consideration for a country to accept Bitcoib as the official currency.
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Just a matter of time then Bitcoin and crypto will become legit and official replace for fiat in worldwide when everyone accepted them or we have something to control it
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It is quite possible that bitcoin ever become an official currency because day by day many people connected with it and use the blockchain technology.
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I think everyone will soon realize that Bitcoin is the currency of the future. It will undoubtedly become an official currency, but I can’t say so about other cryptocurrencies. All new and new currencies are created every day and you can`t meet them in different services as a https://bestmixer.io/en (https://bestmixer.io/en), so what can we say about them becoming official.
if it seems to be a currency it doesn't seem to be, but if it's for digital assets, yes. because we know that the country's currency will never be replaced
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It's digital currency, I hardly believe it can replace fiat money.
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This is a positive, however, as it is intended to be hard to make coins so that there is a constant flow of coins being created.
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Every thing is possible in crypto but for official currency of the maximum countries is difficult to say in advance.
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So long ago in Japan
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Cryptocurrency appeared not so long ago and its development path has recently begun. Bitcoin now performs one of the main functions of money - it is a means of accumulation and saving. Bitcoin should get 2 more functions - to become a medium of exchange and fulfill the role of a unit of account. I think that these functions will appear in the next 10 years and Bitcoin will become the official currency.
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it's very interesting.
(http://i.redd.it/0uw0r8ofrdqy.png)
Yes, it's very interesting . From the table we can make conclution that there are many countries accepted the cryptocurrency, so I think it's possible but not for Indonesia yet.
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Official currency of what exactly?
Is it for a country? If so, the I don't think so. It'll probably remain as an alternative to fiat.
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it will never happen, because crypto has a flexible feature, the price is definitely up and down in seconds.
but it all depends on the users, the agreement between the two that makes it legitimate
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Yes it can be possible that bitcoin will become a official currency but i don't think it will be in next 5 years. It can happen in future. Also for this there have a lot of way that bitcoin have to run.
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currently bitcoin is not fully official, but in the internet world bitcoin is widely used for transactions. I'm sure this bitcoin can become the official currency if all countries approve it. need a process so that this can be realized.
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for me maybe also in the future, because for me it still requires a longer process. because I'm also sure the development of the price of bitcoin is now getting better.
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I think that the answer is yes because Bitcoin was created with the ambition if replacing paper money but with the current conditions, I think that it will take more time
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I think that the answer is possible because Satoshi created Bitcoin with the dream of replacing fiat and paper money, this dream will come true soon
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bitcoin become an official currency? I think many will not agree with this because you know bitcoin is volatile.
Yes, your answer makes sense. How can the Bitcoin be an official currency with volatility and unstable price. I am sure, all governments in the world will refuse it because of this problem. Except, if the price of Bitcoin can be controlled by regulation. But unfortunately it kills the decentralization.
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I think Bitcoin can be a fiat currency, the initial goal was because Bitcoin was created with the dream of replacing a fiat currency system or maybe equating currencies in the world through cryptocurency. but will need more time to reach the dream, all will come in time.
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I think it's quite possible ....what about you?
Some countries have used bitcoin as official money , the fact that bitcoin become popular just a matter of time
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Yes it can be possible that bitcoin will become a official currency but i don't think it will be in next 5 years. It can happen in future. Also for this there have a lot of way that bitcoin have to run.
if to make bitcoin as official money, it seems to be difficult, but it depends also on the agreement of the person who made the transaction
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if to make bitcoin as official money, it seems to be difficult, but it depends also on the agreement of the person who made the transaction
Agree with you that it is rather difficult to be an official money. But I don't think it is about the agreement of the person, it is about government policy. Government has many things to be considered before accepting the Bitcoin as official money. I know some countries have done it, however every country has its own regulation..
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I think the answer is possible but Bitcoin will need time to achieve this, when Bitcoin price is more stable iand even able to replace gold
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I think the answer is possible but Bitcoin will need time to achieve this, when Bitcoin price is more stable iand even able to replace gold
it doesn't seem that easy to make bitcoin become the official currency, because bitcoin has fluctuating value, so it's hard to determine the price of fiat money
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Bitcoin was created with that ambition but it still too young and the price is easy to control and manipulate by big investor, it only become an official currency when we have laws to control it
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I think it's quite possible ....what about you?
Well, as we can see that the mass adoption is happening and I that is possible that bitcoin can be official currency. Fiat or physical money will vanish I think if that happens.
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To become official it has to get rid of its volatility, which is mostly controlled by big inverstors. So, my answer is -99% no with 1% hoping for yes
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Bitcoin was created with that dream too, but for Bitcoin to become an official currency it will take time and it’s only happen when we can control the price of it
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In my opinion, instead of Bitcoin, something else may well become the official cryptocurrency. Bitcoin is still outdated technology. Now there are more advanced technologies.