Topic: Bitcoin Become Currency of Nations in 10-15 Years - page 2. (Read 310 times)

Your post resonates with me in a way. No government will allow this to happen.

Contrary to the rosy statements and opinion of the majority, I believe that bitcoin will never become the currency of nations / the main currency. CBDC is already being prepared for the role of the main currency.

I will say more, bitcoin has already ceased to be like a currency (BTC's share among other currencies is negligible) and is increasingly turning into an investment instrument. I expect that this trend will continue in the future and then, it would be naive to expect to see btc as not only the main currency, but even just as a currency.

As far as governments imposing regulation bitcoin and collecting taxes on every transaction, I absolutely agree. This is inevitable if they come up with a way to implement it.

OP, good write up but you know what,bitcoin can never be the world currency in 10-15yrs time because not every part of the world has adopted bitcoin. Bitcoin has been banned in some countries and because bitcoin price is not stable,it will not be accepted by the government. The government are kicking against bitcoin because they were not the one that created it and the decentralization of bitcoin makes it beyond their control and I don't think that any government will love to accept whatever project that the can't access. This is why the governments are fighting to regulate it. Bitcoin was created to be an alternative to fiat and not to get rid of fiat.

Traditional currency will not be replaced because the government will definitely defend it, of course, as an alternative, bitcoin can be a companion in the future when the state starts to have it, but I'm not sure bitcoin will become the main currency throughout the world.

I feel that bitcoin will continue to grow rapidly until the government cannot stop its development, on the one hand the community around the world must be big with the use of bitcoin but it is only limited to an investment that is worth more than gold or diamonds, returning to fiat currency will continue dominate even though you know that there is an inflation value.

More countries are considering it as an option but the issue they all seem to have is more about the taxing.
The government in many of our countries see the bad use of it, like to sponsor terror, and that's why U.S is strongly among nations contesting to regulate and tax BTC properly.
In 10-15years time? BTC would have gained much more audience and adoption. People are waiting to see how the halving plays out. If all goes well more users trust would be gained and the boom will accompany more investors.

A country like El Salvador is an example for the world to use incase a mentor state is needed to profer guidance and tools in form of what to expect and how to adjust kinda technical formality brouhaha.

Everyone is welcome to speculate, but surely that is a flawed one. Expecting a currency that is built and enforced based on ignorance is simply without a doubt an absurd take. Bitcoin can not be easily controlled and flexed to adjacent with what the government needs. And the government have no strong motive to apply and enforce a currency(system) that is inherently beyond their control.

15 years is also a rough estimation that does not consider the technical capabilities of Bitcoin to handle such a scenario. We don't know for sure the adoption rate, conveniences, and scalability it would be capable of.

Nation states wouldn't know how to cope if they couldn't print money from thin-air.  Some countries may legalise Bitcoin as a currency, or even make it legal tender.  However, I can't see, in my lifetime at least, that they'll ever give up debt-based money entirely.  Every country on Earth has built their economy on the fundamental basis that banks can create new money, but that's not something they can do in Bitcoin.  They wouldn't be able to set interest rates if they only used Bitcoin, because you need debt-based money to do that.  Every last element of control they can leverage over their economy would vanish completely.  What government would want that?    

It's simple, the government just need to create their own exchange and force all of their citizens to use their exchanges as a wallet and exchange in the same time. Make sure every customer must verify their KYC, so the government can track every citizen wealth.

The next thing is declare for not using other Bitcoin exchange or wallet, use privacy related service e.g. DEX or mixer. Although some people will still use it, but most of people already get tracked by the government.

you should not call Bitcoin as Anti fud because it is not, we all know FUDs are for shorter period of time and people gets to know the truth about FUD slowly slowly. Which means, we can say FUD do comes in BTC but for shorter period of time, like when Elon Musk sells of his BTC investment back in 2021, and said they are not going to accept BTC as payment method for Tesla and then market take a downtrend and after that they make another announcement of accepting BTC for payment method and still in the time many said, elon has sold his BTC reserves but they made several statements that they didn't sold any.

The point is, you should right this heading as Bitcoin is best source for storing value for you money.
Well, i admire your efforts and yet let me tell you that why BTC can not be accepted worldwide despite the fact of current favors from governments, BTC blockchain technically is not capable of processing all the transactions from worldwide, as you mentioned in your 3rd point that how BTC a roadmap, but still it need technical developments to process the millions of transactions if it got accepted a world currency which is not near. You could take an example of recent load on Btc blockchain from Ordinals. You must be aware of the congestion that it made and how it affected the fee.

It greatly depends whether you look on short term or on long term (4 year cycles, at least).
On short term, a lot of things get significance, but only the day traders feel that. On long term, .. all those problems are just noise.
Of course, OP's essay is somewhat generic and everybody will see cracks in his logic, depending on their own short term experiences.

All of three big points are not true.

1. Bitcoin is not anti FUD and you can see many times Bitcoin has big crashes. It is not anti FUD if you look with a view from a market price.

If you look at engaged factors, Bitcoin is not anti anything and not anti FUD. Bitcoin is just Bitcoin and be itself. The factors affected by FUD is people who join the market but can not control their emotion, psychology and can not keep up their belief, plans and actions and get affected by FUD.

2. Bitcoin is Anti Whale
Not true because whales are market makers. In all market, we all have market makers, whales who play their games and steal money from unintelligent investors, traders to their pockets.

3. Bitcoin is not designed to be a world currency not it will not be like that.
It will be used by more people globally but will not be a world currency or a new standard in world economy like gold standard or USD standard.

When you amplify the beauty and power of Bitcoin, you only make more people hate Bitcoin.

Exactly, every whales has group which have a plan to manipulate the market for their own benefits. One thing you can do in this situation is to take advantage of the current situation as they trying to influence the market. It's either join the ride or watch them pump.

In my country, there's a digital app that everyone use for every transactions. With that being popular they are already implementing luttle by little to introduce crypto as they start at investments.

Oh damn I think I believe Bitcoin neither Anti FUD nor Anti Whale or whatever Anti it might be. The problem is, every currency proves itself now and then. Whether it is fiat or digital crypto based currency both the world see worst downfall in terms of valuation. In fact fiat has seen worst of all. The economical crisis that too on global levels. Disastrous inflation, uncalled debts and much more. However, fiat has always stabilised itself over the course of time. I am not saying fiat is best, but what I’m mentioning is fiat is also Anti to all crisis that may come across. Bitcoin isn’t full proof either. It has also seen downfalls, whales manipulation and FUD.

I think (or hope?) that at some point the commercial banks will use bitcoin as reserve (replacing gold or together with gold) and their powerful lobby will go in our favor.
Then Bitcoin will get the path clear for becoming the reserve asset, as a firs step. Then, as a second step, the reserve currency, because the countries will start fearing of entities like SWIFT that can be used as weapons.

Unfortunately I feel like the government(at least in some areas) is not going to allow Bitcoin to become a main currency until they figure out how to tax the fuck out of it. They'll impose loads of regulations and make sure they get a big chunk of every transaction.

I am thinking that even though Bitcoin will become the currency of most nations in the future, the traditional currency we have now will still exist. What I can see is Bitcoin will just be an alternative.
World currency, yes, I agree here and support it because we all know Bitcoin is already doing it and it's really how Bitcoin works right now.

Whales never buy all-in at once. They have a strategy which allows them to acquire Bitcoins worth of millions without you realizing they did, even if they wanted to buy Bitcoin at the current market price, they will as they know their buying's will surely drive the price up of the Bitcoin, so nothing wrong with that too.  I would love if my country accepts Bitcoin or mostly all the crypto payments however I think companies like Apple and Google should be the one integrating it directly to our phones.

Here's a summary for those who don't want to focus on the op's long read:
1. Bitcoin survives FUD, regulations, can help in critical situations when local fiat is rapidly losing value.
2. Bitcoin's price isn't manipulated because that would require immense funds and would be difficult to achieve.
3. Bitcoin is scarce and thus won't go down to zero, and it's also borderless and thus useful for international transactions. The next generation (in 10-15) will simply accept Bitcoin as a global currency and won't question it.

And now to my opinion about it: while Bitcoin seems to recover from FUD and strict regulations, it can also easily lose more than half of its value and remain in that state for a few years. That is a big problem when countries rely on the stability of the value of their reserves. I agree that Bitcoin can be very helpful in situations of hyperinflation, but these are local issues that many people (most people) aren't affected by. I also agree with the second point, but some can frame it very differently as a disadvantage: BTC price is out of anyone's control, while many rely on a strong country impacting its fiat to ensure its stability. As for scarcity, it just doesn't work like that because aside from scarcity, there also needs to be a demand. I don't think Bitcoin will go down to zero, I just don't think that the limited total cap is what guarantees it.
It's an interesting text, but I think that the global politics relies on interdependencies and exercising control, which is why I think Bitcoin won't be the top international currency in 10–15 years (beating fiat).

Nice essay, I didn't read it entirely since it's a bit long, however, what you've wrote may not be complete or entirely true, unfortunately.
For example I expect the whales work on more fields, not only actual market, i.e. also spreading FUD and taking advantage of actual real news. Then they do have a chance to affect the market (a little, only for rather short periods of time, but still....).
Plus, the fake volumes the exchanges still report can easily cover inside jobs and I see exchanges a special class of whales.

So it's nice to have essays telling great things about bitcoin, but we're still early, still poorly regulated (which is both good and bad), hence it's not everything that nice. Not yet.


Still, the conclusion is good. Bitcoin can become the (reserve?) currency of the world in the not-too-far future.

Maybe you ever thought that Bitcoin will be the Future currency in entire World or Nations, So I believe that it will be like the way you are thinking of. So what is the reason, and how could it be ?. Here I will explain it to You, Guys.


I believe that Bitcoin is The Future of currency, Why? Because Bitcoin has been proven to be a crypto coin that survives from various FUDs, no other coin or currency is subject to FUD as badly as Bitcoin. However, the price is still going up. So, it's proven to be Bitcoin FUD proof.

Then, Bitcoin survives various regulations. No other currency or asset is threatened with various regulations like Bitcoin. Has this Bitcoin been threatened with any FUD? Starting from regulatory issues, prohibited trading, prohibited from playing links, environmental issues, CBDC, Altcoins. What it is want to be threatened with? So, America itself has also reduced its opposition to Bitcoin, because they know that the only way to kill Bitcoin is to shut down the worldwide internet. Which is very impossible. History proves that Bitcoin is regulation proof.

Bitcoin has also survived heated regional political conditions. When in Venezuela, there was hyperinflation, the value of the currency is trash. When Myanmar's political conditions heat up, the value of its currency decreases. When Afghanistan was taken by the Taliban, the value of its currency may no longer exist. Those who store their assets in Bitcoin, stay safe. History proves, Bitcoin is Political Turmoil proof. Okay, next Bitcoin marketcap is getting bigger and bigger. And it's not easy to play the bigger Bitcoin market, unless there is an agreement or insider trading that is really controlled.


We should know that there's a super big Global conspiracy at play,but I think they don’t play in the Bitcoin market, Why ?, because it is very difficult and the funds required are very large, Because the market is the world. Playing the world market is not easy, because there is an alternative that is much easier, which is better if I am a whale I prefer to play at shit coin markets where the market cap is still small. If you make a profit, you can later exchange it for Bitcoin or Fiat. Bitcoin is Anti Whale, I mean whale proof.


Maybe you may still not be aware, if this Bitcoin has a bumper that makes its value cannot be zero. The number of coins lost is estimated to be 30 to 50% of coins lost for various reasons, like; someone forgot their keyfreeze, their hardware wallet was thrown away, the owner died suddenly, and so on. The lost coin cannot be Transacted, cannot be Sold, and even can’t be Printed or Minted again, the maximum is still only 21 million coins, and this amount is not enough if it is distributed evenly to everyone. Bitcoin is impossible to zero, Bitcoin is inflation proof, Bitcoin also allows us cross-country transactions.

Cross-country transactions before crypto existed were very complicated, especially if the numbers are big. But, now you don't have to worry anymore, we can use Bitcoin to send funds to each other, Bitcoin is a borderless currency. Now, it's just a matter of time for Bitcoin to be accepted by the wider community, When is it? My guess is 10-15 years from now. 10-15 years from today, Why 10-15 years? Because it need takes a new generation to accept this technology without question, Like we used to be when we were born into the world we became adults and we have never questioned why the dollar has become the world's currency, We also never asked, Why money is in the form of paper, Why not cloth or stone? The next generation will not ask a question in detail Why money is digital ?, Why Bitcoins? What is Bitcoin's underlying asset?. The next generation, like it or not , just accept it. Like us, like it or not , just accept fiat currency. But when it comes to the underlying assets, there are many who are sarcastic;
Bitcoin is a currency or asset that does not have an underlying asset, that means, these cynics don't fully understand the history of money, don't understand the difference between currency and money, don't understand the history of the dollar, don't understand Bitcoin, don't know the difference between Bitcoin and other crypto assets, don't understand Blockchain technology, didn't learn the history of currency and gold, forgot or didn't know about the Bretton Woods Agreement and maybe they either don't know or fail to understand what President Nixon had declared in 1960 as I said in my Last Topic in Bitcoin Discussion (Hold Bitcoin vs Hold Gold, and also in Smart Way to Introduce Bitcoin to Relatives,Spouse and Family), So I recommend you to read that topics what I mentioned, So We can learn and discuss together, don’t ever close your eyes to see how the future works.

Okay then, I think that's all. Those are my Reasons of; Why Bitcoin is the Future Currency?

The Summary :
¹ Bitcoin is Anti FUD
² Bitcoin is Anti Whale
³ Bitcoin Roadmap to be the World Currency

Last Topics related to this Topic :

Hold Bitcoin VS Hold Gold
Smart Way to Introduce Bitcoin to Relatives, Spouse or Family