Bitcoin Garden Forum

Cryptocurrencies => Crypto Discussion => Topic started by: Cryptoinna on June 23, 2017, 04:03:59 PM

Title: Will bitcoin ever become an official currency?
Post by: Cryptoinna on June 23, 2017, 04:03:59 PM
I think it's quite possible ....what about you?
Title: Re: Will bitcoin ever become an official currency?
Post by: vitalino on June 23, 2017, 09:09:37 PM
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.
Title: Re: Will bitcoin ever become an official currency?
Post by: Natalia_Volkova on June 24, 2017, 07:56:38 AM
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.
Title: Re: Will bitcoin ever become an official currency?
Post by: Kateryna_Oli on June 24, 2017, 09:22:24 PM
it's very interesting.
(http://i.redd.it/0uw0r8ofrdqy.png)
Title: Re: Will bitcoin ever become an official currency?
Post by: WarrenBarren on June 26, 2017, 01:19:26 AM
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.
Title: Re: Will bitcoin ever become an official currency?
Post by: NanaLelyakova on June 26, 2017, 01:54:17 PM
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.

Title: Re: Will bitcoin ever become an official currency?
Post by: Abusadeeq6 on November 29, 2018, 08:04:27 AM
It can be possible, Bitcoin is getting popular and many are investing. I think it will be possible in the future
Title: Re: Will bitcoin ever become an official currency?
Post by: Redix on February 02, 2019, 08:58:53 AM
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.       
Title: Re: Will bitcoin ever become an official currency?
Post by: Millionaire on February 02, 2019, 01:02:46 PM
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.
Title: Re: Will bitcoin ever become an official currency?
Post by: jenica on February 02, 2019, 02:00:30 PM
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
Title: Re: Will bitcoin ever become an official currency?
Post by: shadowdio on February 02, 2019, 02:11:10 PM
bitcoin become an official currency? I think many will not agree with this because you know bitcoin is volatile.
Title: Re: Will bitcoin ever become an official currency?
Post by: Epiphany on February 02, 2019, 03:19:50 PM
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.
Title: Re: Will bitcoin ever become an official currency?
Post by: Rhett on February 02, 2019, 03:34:09 PM
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
Title: Re: Will bitcoin ever become an official currency?
Post by: Danezu. on February 04, 2019, 09:59:54 PM
In some US states, like Ohio, bitcoin is a “legitimate form of currency”.
Title: Re: Will bitcoin ever become an official currency?
Post by: Bamzmeca on February 05, 2019, 02:51:54 AM
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
Title: Re: Will bitcoin ever become an official currency?
Post by: jenica on February 05, 2019, 06:30:26 AM
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
Title: Re: Will bitcoin ever become an official currency?
Post by: NguyenTuan on February 05, 2019, 02:50:26 PM
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
Title: Re: Will bitcoin ever become an official currency?
Post by: Octo on February 05, 2019, 03:12:46 PM
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.
Title: Re: Will bitcoin ever become an official currency?
Post by: Richard on February 05, 2019, 03:52:38 PM
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
Title: Re: Will bitcoin ever become an official currency?
Post by: rituvohra01 on February 05, 2019, 04:30:40 PM
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.
Title: Re: Will bitcoin ever become an official currency?
Post by: jenica on February 06, 2019, 03:19:19 PM
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
Title: Re: Will bitcoin ever become an official currency?
Post by: Lore on February 06, 2019, 03:35:16 PM
It's digital currency, I hardly believe it can replace fiat money.
Title: Re: Will bitcoin ever become an official currency?
Post by: Dkingbh on February 06, 2019, 03:38:57 PM
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.
Title: Re: Will bitcoin ever become an official currency?
Post by: Rabsul on February 06, 2019, 05:22:27 PM
Every thing is possible in crypto but for official currency of the maximum countries is difficult to say in advance.
Title: Re: Will bitcoin ever become an official currency?
Post by: X-MAN on February 06, 2019, 08:38:49 PM
So long ago in Japan
Title: Re: Will bitcoin ever become an official currency?
Post by: Buganat on February 06, 2019, 08:44:44 PM
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.
Title: Re: Will bitcoin ever become an official currency?
Post by: Ghanda on February 07, 2019, 04:35:46 AM
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.
Title: Re: Will bitcoin ever become an official currency?
Post by: Zen10 on February 07, 2019, 07:17:52 AM
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.
Title: Re: Will bitcoin ever become an official currency?
Post by: katemi on February 07, 2019, 08:21:37 AM
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
Title: Re: Will bitcoin ever become an official currency?
Post by: MKH on February 08, 2019, 06:45:35 PM
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.
Title: Re: Will bitcoin ever become an official currency?
Post by: pwt22 on February 09, 2019, 02:37:48 PM
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.
Title: Re: Will bitcoin ever become an official currency?
Post by: Mpxs on February 09, 2019, 02:48:48 PM
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.
Title: Re: Will bitcoin ever become an official currency?
Post by: AdamLu on February 09, 2019, 05:43:53 PM
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
Title: Re: Will bitcoin ever become an official currency?
Post by: Grypsy on February 10, 2019, 09:58:03 AM
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
Title: Re: Will bitcoin ever become an official currency?
Post by: Redix on February 10, 2019, 11:48:20 AM
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.   
Title: Re: Will bitcoin ever become an official currency?
Post by: Ekobejo on February 11, 2019, 06:51:26 AM
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.
Title: Re: Will bitcoin ever become an official currency?
Post by: CQT on February 11, 2019, 10:29:47 AM
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
Title: Re: Will bitcoin ever become an official currency?
Post by: AB_6944_UL on February 11, 2019, 01:57:15 PM
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
Title: Re: Will bitcoin ever become an official currency?
Post by: Redix on February 18, 2019, 11:58:52 PM
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..
Title: Re: Will bitcoin ever become an official currency?
Post by: Johdw on February 19, 2019, 05:27:27 AM
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
Title: Re: Will bitcoin ever become an official currency?
Post by: katemi on February 19, 2019, 05:42:52 AM
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
Title: Re: Will bitcoin ever become an official currency?
Post by: NguyenTuan on February 19, 2019, 02:31:13 PM
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
Title: Re: Will bitcoin ever become an official currency?
Post by: josephabad23 on February 19, 2019, 03:56:56 PM
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.
Title: Re: Will bitcoin ever become an official currency?
Post by: AlissonGreenwich on February 22, 2019, 12:37:41 AM
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
Title: Re: Will bitcoin ever become an official currency?
Post by: AdamLu on February 22, 2019, 12:34:45 PM
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
Title: Re: Will bitcoin ever become an official currency?
Post by: termion on February 22, 2019, 09:47:42 PM
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.