Quote from: omfg.xekcep on September 22, 2018, 09:59:55 PM

Quote from: Kaycee0202 on September 22, 2018, 08:24:49 AM

Well in most developing countries of the world especially in Africa and southern America the battle of a stable currency has been there issue and this countries has sometime serious of inflation and there currency are so weaker can only be accepted for trade within their country.
If bitcoin becomes adopted generally if will Forster a healthy trading ecosystem among countries and also tackle problems of inflation, slow and ineffective transaction processes and even prevent scam and corrupt practices

Bitcoin will never be used as a national currency. Think yourself, how do you imagine it? Most part of Bitcoins has already issued and investors hold those Bitcoins. Let us go ahead, do you suggest that the government of Africa must buy Bitcoins from investors? If so, than what is the sense? There is another important question, as far as I know the total quantity of Bitcoins is limited and this limit will be reached in several years (I do not remember the number of years but it is exactly less than 10). How are you going to solve this trouble that in the near future there will not be new Bitcoins? I remember you that every economy need to have new money for developing otherwise an economy falls in stagnation.

To cut a long story short, I agree with you. Having said that though, it's not how it is going to happen in real life. It is not about the government of some African country willingly deciding to accept bitcoin. It is more about common people using it as a means of payment among themselves. Personally, I don't think that bitcoin as such is very usable and suitable in this regard and for that purpose but this is another question. So if the local population starts using, for example, litecoins or doges - somehow doges seem to be a perfect replacement for local currencies, cheap as dirt and fast as shit - the government will have to accept them whether they like it or not.

This is how things happened in Zimbabwe. It was not their government that had deliberately chosen to use the American dollar instead of the local dollars, Zimbabwean ones, it is the people of this country that started to use it. And then the government had no other choice but to completely abandon that ultimately useless garbage which they had insolence to call money.