Bitcoin as primary Currency

[Arnab12]

What if in future BTC becomes a primary Currency of a country. The high miner fees will certainly not help in transactions. Not to mention the taken time to send. We are in a time where we can transfer funds with absolutely low fees and instant transfer features through imps or UPI or any other. I guess doge or xrp can do better as a primary Currency of a country

[evet]

I don't know, I would still prefer to have other currencies such as fiat. It's hard to deal with currencies that are too volatile to be a primary currency.

[Ufra]

These altcoins that told at the last has no ATMs. Even it's conversion to the money process is very difficult. However the Bitcoin is much easier process to convert it to hard form of money. So, it's fee cannot impress in this process.

[Ali saher]

I think maybe in future possible this because slowly slowly so many countries attect to crypto currency and I this this is future currency.but I think we need wait some more years slowly slowly this possible.

[Tom mloi]

At the present time, many countries reject Bitcoin, and in turn there are countries that strongly support it. I see that Bitcoin in the coming days will become a basic currency in the world of currencies, and it depends on that on the fundamentals it provides with training and remains conservative on its quality.
 

[Baqee]

I dont think its possible.

Reasons: There is a limited number of BTC available in the whole world. For it to become a basic currency the government have to be the ones controlling the number of BTC in circulation, which is not possible cause a lot of whales have accumulated a lot of BTC for their own use.

If it is to be used as a basic currency, Government should be in charge completely and not citizens.

[sahil777]

thats why bitcoin halving occurs after few years, to reduce mining fee and its coming in 19th of this may then you will see the clear reduction in miners fee, also a huge demand of bitcoin will make bitcoin price more high.

[skrieeee]

I think not in my opinion. Bitcoin's prices are unstable, it means it can lead to grwoth or loss and a risk if someone or some country took it as their primary currency, it'll be bad for the people to buy daily stuff such as food, and etc. . Instead of them buying items for example: buying a house that it worth a $100k next week since you have enough money or lets just say you have the exact money to buy a house next week, instead, you're gonna be scared of what if it goes up or down. Thus, I think it will be a bad call for taking bitcoin as a primary currency for a country to use it. 

[Magdsolieman]

I do not think that it is possible that when a country depends on it, many responsibilities and restrictions will fall upon it. No one in the world can control alone the cryptocurrencies. They are linked to many aspects and the price that is closely related to supply and demand. This will negatively affect that country. They are volatile currencies. You cannot expect its course.

[Killlm]

Bitcoin is the king of cryptocurrencies, Bitcoin is not legal in all countries, Bitcoin will take a long time to establish as the primary currency of every country, Bitcoin is a very expensive currency, not everyone knows about Bitcoin, very few people in the world know about Bitcoin, if everyone knew about Bitcoin  As users grew, I hope Bitcoin would be declared the primary currency of all countries, but de  The country will be much better if Bitcoin is the primary currency of all countries

[Paqui133]

I honestly think that bitcoin is the most indicated and the most powerful. The countries that still use it will end up using it. I gave it a lot of credibility.

[JacksonPalmer]

I don't think Bitcoin or any other cryptocurrency will ever be the only way of paying in any country. You always have to remember that all these cryptos only work because there is internet available and people have the correct devices to use the cryptos. But what if there is an internet outage, what if you can't afford a device to use crypto with. This is why I personally think there will always be some way of physical form of payment.

[Diamond1]

The only way bitcoin can become a country's permanent currency is when bitcoin becomes more secured and stable. No country wants to use a currency that may easily fluctuate and lost it's value.

[windblade]

I don't think Bitcoin will become a central currency really.  Mainly because it's too costly to send and the person trying to pay for a cup of coffee with it.  Would literally cry everytime.  I'm pretty sure it'll become the gold standard.  Yet really there's going to be an alt currency in the long run doing the day to day transactions.  BTC will be like the banks doing the settlements at the end of the night type of coin.  I really think DOGE coin will be the day to day coin, maybe even LTC.  ETH has had a lot of growing pains over the years.  Yet at this point it's all up in the air.

[Aponix]

I do not think that any country adopts bitcoin or some cryptocurrency as their main currency, most governments want to have some control over their own currencies, maybe some governments want to create their own cryptocurrency, but they cannot be compared to btc because these crypto they are decentralized and that the most attractive

[Mejorpens]

Exactly, using BTC will incure high transaction charges. It's better LTC or XRP be the primary currency because to their low transaction fee.

[Babacomputing]

Due to the time it takes to process bitcoin transactions, I think that it cant be used as a primary coin rather XML would be a very good option because it is very  fast. XRP can also be an option.

[itconsults]

Actually these currencies are new and have some limitations regarding transactions, for example some countries are not supporting this currency and you should have an internet connection to make an order. But in future, we would see better. Let's wait.....

[Dena Topik]

It is an interconnected currency and does not have a stable basis until it becomes the primary currency of a country. It is affected by many things. Really, it is impressive. I see that it has become a basic currency of a country, and that has many responsibilities.

[TheGreenTree]

There are layer 2 solutions being developed, which will tackle the problem of high fees and scaling.  Give lightening network a try.

[Bassey Agbor]

Bitcoin as a primary will not be possible because its limited in circulation.Its transaction takes time.

[Raikage]

1 hour ago, Bassey Agbor said:

Bitcoin as a primary will not be possible because its limited in circulation.Its transaction takes time.

agree..simply said!

[maddyb]

that would be cool

[DenrickEugenio]

nope, needs to be stable.

[Ganjacoin]

XRP's system is currently being used by Major Banks. I think XRP is a better choice over BTC