Ninjastic
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Board Economics
Re: Bitcoin is Becoming a Global Currency
by
Honeybooboo
on 14/03/2015, 11:36:15 UTC
Quote from: aso118 on March 13, 2015, 05:29:04 PM
Quote from: BillyBobZorton on March 13, 2015, 04:38:13 PM
Quote from: Nerazzura on March 13, 2015, 04:33:30 PM
Quote from: Inocencio on March 10, 2015, 11:16:45 AM
i think bitcoin is still a long way from being the global currency
Bitcoin is very flexible because he can be accepted and exchanged with any payment and transaction done very quickly. No need to wait a long time. It's already happening now
I had to send a bank transaction inside my country to another bank entity and it was so annoying now that im used to BTC transactions. Once you are in its forever.

The reason for the annoying procedures is government regulations.
Banks have to comply with know your customer norms, anti-money laundering norms, foreign exchange rules, etc.
Bitcoin has it easy. Smiley

Sadly these regulations will eventually come to bitcoin too. It's just a natural process really as the governments aren't going to freely and easily launder your money like this without them wanting their cut. Using exchanges that don't comply with these laws will become illegal and it probably is already.

Quote from: countryfree on March 13, 2015, 07:45:40 PM
BTC is a global currency, because there isn't any country behind it. Somehow, it's countryfree. Just like me.

I think bitcoin is the first truly global currency and it truly does have the power to be a borderless, worldwide currency. My dream is that it just catches on so everybody else sees it like this because without being able to spend it at many places across the world it is kinda useless as a currency but I think this will change over time.