Quote from: PokerFace3 on October 27, 2017, 10:50:37 AM

Quote from: player514 on October 26, 2017, 04:40:25 AM

Quote from: Sled on October 26, 2017, 04:29:43 AM

The possible impact of the bitcoin in the economy for a country will be good because the people will find faster way of transacting money and transferring money from one point to another. The flow of money will become so much faster and it will make the economy of the country much healthier than before and i think that is the impact of bitcoin and there is nothing to worry about the negative impact because they can be fixed with an ease.

The speed of a bitcoin transaction definitely has not been a strong point for the currency at all points and even though its being improved over time, I think it's not a strong point to build support for the currency on. Instead, support will come more from the fact that bitcoin can be treated as an asset and the fact that it is an anonymous currency. People enjoy being able to spend their money with a certain level of protection -- they get that protection from using bitcoin.

100% agree with you on that. Definitely, over time, we may end up seeing some improvements and as Litecoin boss said, it is possible eventually that bitcoin will be more of an asset while another altcoin which seems stable will be used instead for transaction purposes.

So a time will come when we will just have to convert a piece of our bitcoin to another altcoin for transaction. Like you said, that protection is what people have really craved for and finding it in bitcoin is just like finding a solution to their problems.

I hope we all understand the meaning of asset which I dont need to explain here, unfortunately some of the mates think that asset and currency are something different or what? Or if not then this is what I got from what you said. I think that you people want to say that a time will come when bitcoin will be considered as a fixed asset rather than a current asset. At present the status of Bitcoin is a currency (currency is current asset according to the law) and it is assumed that in future due to its high price it will not be a currency but will be treated as a digital commodity. These are just perceptions of the people and propaganda by those who are promoting alts.