Topic: Bitcoin as reserve currency. (Read 552 times)

Bitcoin will be a large payment system like PayPal, I don't think that Bitcoin has the stability to become a national/global currency. When people claim Bitcoin will be a currency that will change how payments are transferred, they only have part of the point. PayPal is more so looked at the payment system that will last for a very longtime because they have digital formats that could be implemented from Banking systems. When Bitcoin has faster payments then I think the people will pay with Bitcoin more often.

Bitcoin in it's current form will not even scale enough to handle 20% of all transactions that are done in Zimbabwe on a daily basis. The people

who predicted that does not know what they talking about or they have not used the network lately. We need a scaling solution that would be

stable enough to handle that kind of load and still be secure enough to protect the network. 

Yeah bitcoin as a reserve currency is gaining more acceptance and as an investment. At the same leading as a reserve currency defeating most other countries worldwide doesn't gonna take place in the short or long term. Our speculations would take it to some extent and technology is the one which might help with it.

i think it will come sooner or later it is not possible because of its high value in the market. global currency continues to fall into pieces, getting a little amount when it converts to another currency. if other people will be aware to bitcoins they will think that they  will invest to bitcoins.

Well I don't want to believe with this type of speculation maybe you could show us some proof or source here. Bitcoin isn't that good to be estimated as sixth of the largest reserve currency. There are even more good reserve currencies throughout the world and how do you say that bitcoin is on the top 6th right now?

Bitcoin will not be the 6th biggest reserve currency. Who estimated that? How did they come to this conclusion?
As far as the public is aware, Bitcoin isn't used as a reserve currency of any kind in any country in the world.

The AUD is currently the 6th biggest reserve currency, but it is also not really used as a reserve currency. Only the USD and EUR are really.

http://money.visualcapitalist.com/all-of-the-worlds-money-and-markets-in-one-visualization/

That shows how big bitcoin is in the grand scheme of things. It is 4 times bigger now than then, forgetting that a good percentage of Bitcoin have been and/or will be lost.

Bitcoin can become a reserve currency.
Actually, to be a reserve currency, it *doesn't have to scale*.  I think that if bitcoin doesn't "fork to death", this is its possible fate.  Bitcoin, as coins, will be locked up in financial institution's vaults.  No mortal will ever transact on the block chain.  The block chain will be another, extremely expensive, commodity, that serves as immutable ledger for many things.  I don't even know whether the value of kilobytes on the block chain will be worth more or less than a bitcoin.  It would be mightily expensive to do a transaction of a few bitcoin on the chain.  Only large settlements between financial institutions world wide will be able to afford such transactions.   Bitcoin will be entirely fiatised, and, because of its financial importance, be totally put under international control.  Mining without a licence will not be possible.

Bitcoin can become the immutable ledger of the world.
It might also be that the bitcoin token itself becomes irrelevant, and what is the real value of bitcoin, is the room on its block chain.  If the kilobyte on the chain is more expensive than a few hundred bitcoin, say, then the real commodity is room on the chain (for other things than bitcoin transactions: that would be a waste !).  Bitcoin's coin value will then essentially plummet to zero, but will be used as an "app token" to write stuff on the chain (where you pay a miner in fiat or another token for the room taken).

The "internet money for normal people" dream will be entirely over with bitcoin.  This will be left to alt coins that have scalable systems.

Or it might be that bitcoin will fork, and fork, and fork, to make many derived alt coins.

So distant future, who knows what will happen by then and what will be the situation with Bitcoin. This is the area that is very hard to predict something that will actualy be on solid ground. But still from current perspective it doesn't seem very likely that Bitcoin could become the largest reserve currency.

Sources people. Stop creating news like post without giving the sources.

It is still 13 years from now. Anything could happen. It can be the sixth largest reserve currency or it can be deactivated because it failed to scale.

Where did you studied this prediction as their is only 50% of chances of it, and as per my view it will take nearly 2050 for it to become first largest reserve currency.

Well it is still to early to speculate bitcoin as largest reserve currency, bitcoin state is not too stable yet, there are still rejection from people and some country still thinking about banning or legalize bitcoin, I just really hope that bitcoin can work smoothly and become one of the biggest currency in the future, a lot of people and expert predict bitcoin will survive for a long time and become one of the greatest currency

Well if they estimated that it will happen in the world in 2030 then that will be the time for it to possibly become the  first largest reserve currency. The one who made the predictions are well capable and are experts in terms of finance and economics compared to me I am nothing compared to their level. And so I place my trust on their expertise that it will happen by 2030. For me the most important thing right now is that bitcoin is increasing in value.

It has been estimated that Bitcoin would be the sixth largest reserve currency in the world in 2030.Could bitcoin become the first largest reserve currency and when?