Post
Topic
Board Economics
Re: BTC as a national currency?
by
Sweeet123
on 19/12/2017, 17:12:17 UTC
Bitcoin, for now, is not suitable to become a national currency of any country. Bitcoin's value is too volatile so a product or service will always change in price with respect to the price of Bitcoin. Also, a transaction fee is there with every transaction, this is not practical in using in a daily basis. It will be hard for the government to control the scenario. So if a country will make Bitcoin as its national currency then they have to regulate it first.
True that, it would not be feasible for the masses to pay a transaction fee for every exchange, as it would discourage transaction and further lead to economic instability