Will Bitcoin or cryptocurrency be widely accepted?

[oussama23 120]

Bitcoin and cryptocurrency has bloomed since 2009. Will it be accepted and regulated by the central bank to be used as trading mechanism in the near future? Albeit there has been minimal informal usage of Bitcoin in some trading.

 

Also, which country would be possibly become the first in regulating the use of cryptocurrency in daily transaction?

[George10 9932]

As time goes on I think bitcoin or the use of cryptocurrence will be accepted worldwide just like fiat but this will not happen easily for governments to approve this and I think there will be more regulations and tax collections on crypto when this happens,let me hear what my friend @Dorjoy12 has to say about this.

[Zeshan Khalid 2577]

It has good chances to be accepted because of its demand among masses. People have a lot of crypto currency stored in their wallet and at one stage nations will have to accept it

[Dorjoy12 8962]

9 hours ago, George10 said:

As time goes on I think bitcoin or the use of cryptocurrence will be accepted worldwide just like fiat but this will not happen easily for governments to approve this and I think there will be more regulations and tax collections on crypto when this happens,let me hear what my friend @Dorjoy12 has to say about this.

@George10 without any doubt you are right because already those country accepted crypto currency now take tax .. You can talk about Israel where 30% tax put down on your crypto balances.. Also you know USA govt out tax in different exchange site.. So whenever the world will be adopted with crypto currency all the stock market, economic rate will be change like a myth                   

[Kami505030 1617]

 I am 100% sure bitcoin and other crypto currencies are the future of new world. In simple words we can say crypto currency will be the language of our banking system, and there will be only selling and buying in these digital currencies. But for this we will wait more for some few years to came to the field.

[PrinceShoto 23]

i think it is already in wild use, practically worldwide

[Tabaluga 166]

It already accepted by a lot of people and companies! so yea I think in future more people will accept it and start using cryptocurrencies , not just for trading, for buying thing in internet or stores.

[Captin 0]

I do not think that the central bank will go to deal in electronic currency as a negotiable currency, but this will not hinder the prosperity of cryptocurrencies. As for the country that will be the first in the field of cryptocurrencies, I think that competition is limited to the United States, Russia and China.

[Nicole018 4548]

Presently, Bitcoins have started to be accepted in the business and investment fields. Most people in these fields are well aware of the potential future prospects of cryptocurrencies. In my personal opinion if the different countries and it's government understand the potential opportunities of cryptocurrencies then in no time cryptocurrencies will be accepted worldwide.

[Sanjana321 6]

In future we would be using cryptocurreny as a digital currency I am 100 confident Because the growth and popularity is increasing day by day we would be useing this kind of currency to exchange between peoples and also many business firms starts investing in this cryptocurreny.

[Projectcrypto 4382]

Bitcoin is a good coin that has bright future ahead because it is getting popular day by day in most part of the world and i believe sooner or later Cryptocurrency especially bitcoin will dominate the world which will enable us to buy food stuff using Cryptocurrencies. Even at present we have some developed countries who make use of bitcoin as legal currency, so let hope for the best.

[Mwangi 5611]

I believe so yes, and having it for 10 years and its still working yes it will be so but the truth is we need to really be sure that we are doing something else important and we need to really value the work we do here , we need to get to a point that we start working so hard to make sure that you are able to really put up a good chance to adopt bitcoin , if you can adopt bitcoin then that would be a perfect chance for you to enjoy this space

[Arpit Gupta 581]

I think in the future when time goes out, government will accept bitcoin and cryptocurrency. But this will happen when every country allow cryptocurrency as it is banned in many countries. Bitcoin will have a bright future.

[Edwin john 649]

In the future i think crypto currency would become the main digital currency used by people because day to day it is getting popular and more people started using this digital currency.In current situation some government do not support crypto currency but in the future i think it could possibly happen. 

Edited October 28, 2020 by Edwin john
Missed a point

[Reyba 175]

It is already kind of accepted. In Japon for instance there is a law that accepts BTC as legal tender, and there are very little countries that are hostile or have banned criptos. You can check this on the link attached, and also the satus of each country regarding acceptance, denyal, or the shades in between.. there is an interactive map for those who dont understand spanish. 

https://www.cambio16.com/paises-que-han-legalizado-las-criptomonedas/

[decemberends 1881]

On 10/8/2020 at 8:07 PM, oussama23 said:

which country would be possibly become the first in regulating the use of cryptocurrency in daily transaction?

Technically its still impossible as you know they are high value compared to each others digital currencies and you know that other poors countries wouldn't agree as they are too high and probably will be a unfair marketing for them.

[mohamedpc1 2213]

It is impossible for a country or international bank to use the cryptocurrency Bitcoin because it is completely unknown and has no credentials. Everything related to Bitcoin is very confidential and dangerous at the same time. I think it is a currency for making money only and for investment.

[Viscount 1357]

Bitcoin and other cryptocurrency are already widely accepted. There are a lot of stores that accepts cryptocurrency as payment, just like Amazon. Yes, amazon is now accepting cryptocurrency for payment that is Ripples.

[Roan 2166]

With the passage of days, we find most of the companies have begun to recognize digital currencies and began to deal with them, and this is due to the large spread of these currencies and I expect a greater spread and expansion in use

We need a number of years, and we will see that countries begin to deal with digital currencies

[entrepreneur 634]

I think that it will be world wide popularized, because the people like it and there is lots of demand, it's just a matter of time untill it will become known by almost everyone

[dchaser 575]

Yes it will be accepted  everywhere because the the nation will go paperless in terms of currency. Most nations start to create laws that govern cryptocurrency according to their monetary laws

[SuperCrypto 7193]

International institutions intensify their efforts to study the economic and financial repercussions and set standards for encrypted assets, and many central banks seek to study the opportunities provided by issuing such currencies. In my opinion, each country needs to weigh the benefits of launching a digital currency issued by the Central Bank, with the challenges that result from that.

[myasoyagnenka 395]

I think that if the crypt is adopted at the state level, the national currency of this country will devalue, since it will have a significant competitor, which can lead to various economic problems.

[saradz 2259]

Cryptocurrencies have managed to get credit from some banks and other institutions, which is a good thing, and I think they will someday be a competitor to other fiat currencies.

[Dormilon 2183]

On 10/8/2020 at 8:07 AM, oussama23 said:

Bitcoin and cryptocurrency has bloomed since 2009. Will it be accepted and regulated by the central bank to be used as trading mechanism in the near future? Albeit there has been minimal informal usage of Bitcoin in some trading.

 

Also, which country would be possibly become the first in regulating the use of cryptocurrency in daily transaction?

It will be very difficult to see BTC as money for normal transactions and in a massive way on the ground for the purchase and sale of goods and services, cryptocurrencies scare large financial investors attached to fiat money and who see them as a threat to their stability, Governments are adopting digital money to compete with cryptocurrencies and hope to obtain their operations with this new modality, so that BTC or any other currency that is not centralized is not in government plans to be considered as normal money of financial transactions, cryptocurrencies will remain for many years an alternative to fiat money, devaluable and centralized to the power of the government of the day, just that, a good alternative that saves our savings from inflation and devaluation and as currencies for profit or loss speculative.