Quote from: Mhd-Bobbi on August 06, 2018, 01:49:25 PM

Quote from: Horace_Damico on August 06, 2018, 06:38:51 AM

Quote from: Mhd-Bobbi on August 06, 2018, 06:34:31 AM

Quote from: Granxis on May 08, 2018, 10:23:56 PM

Is there a role for Bitcoin in international trade? Have you heard of a trade between two countries?
And will it be in the future?

Of course there is the role of Bitcoin in international trade. Because there are several countries that work together to make shares in the country. If trade between countries is interrelated, there will be cooperation between the two countries.

At this point though, it isn't happening. The dollar is still the unit of exchange for most countries (but I don't think it will be for long). Russia and China are already moving away from it.

Bitcoin's market cap isn't big enough to be a factor in world trade. It's only about $41 billion, whereas physical money is $31 trillion. So there's plenty of room to grow. This means that it cannot influence world trade, but it might be able to in the future. It is a useful enough tool, so more and more countries will want to start using it.

Why do you say Russia and China have moved away from him.
While Saxo Bank said that if Russia and China start implementing Bitcoin as a currency other than the US dollar, then the price of Bitcoin can be ascertained to triple from 700 US dollars / Bitcoin to 2,100 US dollars / Bitcoin.

I meant that Russia and China are moving away from the dollar. They're trying to do trade in their own currencies and are switching their reserve currencies to gold. By selling off the dollar they are signalling that it's not that valuable anymore. Strangely enough, the IMF has also been talking down the dollar as a reserve currency and may have plans in store for a "one world" currency, which might be an imitation of crypto.

Certainly, if Russia and China started using bitcoin then it would increase in value, but I'm not sure it's in their best interests to do so. They'd probably want to establish something of their own as a centralized currency so they could have better control over it.