Topic: Bitcoin becoming the sovereign currency (Read 695 times)
Yes, it is becoming a sovereign currency due to the time it has dominated the cryptocurrency market. It would be said that its foundation has becoming more solid each year that exist in the market.
If bitcoin price become $100k, i am believe bitcoin will be digital asset or store of value. If bitcoin want to be sovereign currency, its need government regulation and i am believe government will regulate bitcoin in near future
Many of the industry experts believe bitcoin will be a world currency in the coming month's bitcoin can be internet most favored currency very soon in next 5 years
Here throw themselves in different terms - bitcoin is a sovereign currency, bitcoin is a world currency and nobody wants to even explain what he understands by these terms and explain his position. However, the word "sovereign" does not fit the crypto currency at all. It is also unclear what is meant by the world's crypto currency. The fact that bitcoin is used all over the world, then from this point of view it can be said that bitcoin is a world currency. However, nothing will change from this in practice. So far, it has been used by several percent of the world's population. And this is still too little to celebrate.
It will become a world currency but whether or not governments will recognize it as such is a different story. Bitcoin at this point is kind of already a world currency, it's known about not just in USA but in 4rd world countries like Argentina, Venuezla, Nigeria (big one) and in parts of Asia that are underdeveloped.
As more and more infrastructure for the population of these countries to GET bitcoin the more widespread it will become. I think it will take a lot of time for bitcoin to finally be recognizes as a currency though, governments don't like to give away their financial stranglehold, they want to be able to control their currency. Once the first big developed country recognizes bitcoin as currency it will be a domino i think.
It's inevitable i think though, see video below from world renowned economists:
https://www.youtube.com/watch?v=6MnQJFEVY7s
As more and more infrastructure for the population of these countries to GET bitcoin the more widespread it will become. I think it will take a lot of time for bitcoin to finally be recognizes as a currency though, governments don't like to give away their financial stranglehold, they want to be able to control their currency. Once the first big developed country recognizes bitcoin as currency it will be a domino i think.
It's inevitable i think though, see video below from world renowned economists:
https://www.youtube.com/watch?v=6MnQJFEVY7s
Have you met people who suffered losses from bitcoin investment? I haven’t. But I saw many who achieved profits.
I'll tell you a little about it, I often see people say they've bought bitcoin above $ 10k at the beginning of last year. now they still hold their bitcoins.I often read here that buying over $ 10k after the fall of the course because of the panic started to sell. They lost their money. Who did not succumb to panic did not lose anything
The idea of Bitcoin becoming the sovereign currency may be too much of an ask but it certainly would be used universally for the transfer of funds and as a store of value. It's amazing how the cryptocurrency has gained acceptance and popularity in recent years all thanks to the amazing community. I see more massive adoption in the future.
If I think it is very bridal, maybe if this bitcoin becomes the country's currency because every country now has its own currency that is not possible to be replaced by this bitcoin currency because this bitcoin currency is still very new and not widely known by the public
It is impossible to apply it to national currency because all this time there is its own currency in each country. But if it is a digital currency that unites the world, this "dream" can be realized, given that only a decade of bitcoin has been famous and used throughout the world, especially in countries that have fast internet, and the government accepts bitcoin. What bitcoin has done in the past has proven that it is a legitimate place to hold and build wealth (I always like to think of it as gold). the market is ranging between .5-.8 trillion. Experts all have no doubt it will reach 5 trillion, and a lot of experts even say that it could and maybe even will be worth 1 million dollars one day.
So for the purpose of this topic, lets just assume all this is true and here we are 2 years later and bitcoin is lets say 100k.
Everyone is freaking out because they fear the value of the dollar and other paper currencies will go down.
So there has to be a point in this transformation of worldly currency, that the value of bitcoin begins to overall outweigh the dollar in a way that its not worth holding anymore and should be invested into assets because from then on out holding bitcoin would have the value of a lot of dollars but because of that the dollar wouldn't be worth anything...so then at that point what would the bitcoin value even be based upon?
Do you guys think that (assuming everything i say becomes a reality) that it would get to a point where you'd be better off investing your bitcoins into assets because it has no more room to grow since the US dollar (and other paper currencies) at this point has become almost irrelevant?
Just a thought i had today and i thought it was interesting and that i'd share with you guys.
P.S. is there anywhere i can change my user? lol
So for the purpose of this topic, lets just assume all this is true and here we are 2 years later and bitcoin is lets say 100k.
Everyone is freaking out because they fear the value of the dollar and other paper currencies will go down.
So there has to be a point in this transformation of worldly currency, that the value of bitcoin begins to overall outweigh the dollar in a way that its not worth holding anymore and should be invested into assets because from then on out holding bitcoin would have the value of a lot of dollars but because of that the dollar wouldn't be worth anything...so then at that point what would the bitcoin value even be based upon?
Do you guys think that (assuming everything i say becomes a reality) that it would get to a point where you'd be better off investing your bitcoins into assets because it has no more room to grow since the US dollar (and other paper currencies) at this point has become almost irrelevant?
Just a thought i had today and i thought it was interesting and that i'd share with you guys.
P.S. is there anywhere i can change my user? lol
Will all of thia you stated is broaded speculation into the worlds of cryptocurrency,because all of this your assumption is you want a reality happen,and evertyhing would be freaking out in the rise of cryptocurrency with no uncertainty,thats everthings could be happen according to your vision,but in reality we could know whats is the true happen in the digital currency investment.
If in Indonesia, it feels rather heavy to replace the medium of exchange for rupiah payments to bitcoin because it collides with the law according to my calculations, it takes a long time.
Bitcoin is becoming a household name on the Internet. It is still growing,gradually but surely. And bitcoin is attracting more and more computer science guys to look to blockchain and explore more about blockchain. As more people know a lot more about bitcoin it is likely to become the currency to store your wealth in.
If I think it is very bridal, maybe if this bitcoin becomes the country's currency because every country now has its own currency that is not possible to be replaced by this bitcoin currency because this bitcoin currency is still very new and not widely known by the public
Currentyly, many peoples investing their money on bitcoin. They believe that bitcoin is more worthed than dollar and many peoples believe its hard to replace dollar as currency because bitcoin not accepted in many country. I am better believe that bitcoin is good investment and it could currency one day when bitcoin mass adoption more wider
Many of the industry experts believe bitcoin will be a world currency in the coming month's bitcoin can be internet most favored currency very soon in next 5 years
Honestly i really find this hard to believe.Maybe it depends on the mass adoption of the people in the coming years on how they see cryptocurrencies by that time.Yes cryptos are very profitable but having it replaced fiat currencies is really a big thing that the government won't permit. Though it have popularity today but I not thinking that it will take over fiat and make it disappear. In fact, there is no such feelings cause wide adoption of bitcoin as becoming currency isn't big enough to have that way, it only happens that people have an options which could they preferred to used in a certain transactions. It could really nice also that bitcoin will officially considered as legit currency in some places and it can be accepted either local or online transactions.
It depends on the location and the different regions to apply them to life. At present, ordinary communities of people, the cash is still the main for them. For daily trading it uses the trade of things that are available immediately. Electronic money or bitcoin just to serve online transactions liquidity fast and convenient. It's also available in some places, but it's time to get it right. 
What bitcoin has done in the past has proven that it is a legitimate place to hold and build wealth (I always like to think of it as gold). the market is ranging between .5-.8 trillion. Experts all have no doubt it will reach 5 trillion, and a lot of experts even say that it could and maybe even will be worth 1 million dollars one day.
So for the purpose of this topic, lets just assume all this is true and here we are 2 years later and bitcoin is lets say 100k.
Everyone is freaking out because they fear the value of the dollar and other paper currencies will go down.
So there has to be a point in this transformation of worldly currency, that the value of bitcoin begins to overall outweigh the dollar in a way that its not worth holding anymore and should be invested into assets because from then on out holding bitcoin would have the value of a lot of dollars but because of that the dollar wouldn't be worth anything...so then at that point what would the bitcoin value even be based upon?
Do you guys think that (assuming everything i say becomes a reality) that it would get to a point where you'd be better off investing your bitcoins into assets because it has no more room to grow since the US dollar (and other paper currencies) at this point has become almost irrelevant?
Just a thought i had today and i thought it was interesting and that i'd share with you guys.
P.S. is there anywhere i can change my user? lol
So for the purpose of this topic, lets just assume all this is true and here we are 2 years later and bitcoin is lets say 100k.
Everyone is freaking out because they fear the value of the dollar and other paper currencies will go down.
So there has to be a point in this transformation of worldly currency, that the value of bitcoin begins to overall outweigh the dollar in a way that its not worth holding anymore and should be invested into assets because from then on out holding bitcoin would have the value of a lot of dollars but because of that the dollar wouldn't be worth anything...so then at that point what would the bitcoin value even be based upon?
Do you guys think that (assuming everything i say becomes a reality) that it would get to a point where you'd be better off investing your bitcoins into assets because it has no more room to grow since the US dollar (and other paper currencies) at this point has become almost irrelevant?
Just a thought i had today and i thought it was interesting and that i'd share with you guys.
P.S. is there anywhere i can change my user? lol
Most of the cryptocurrency analyst are saying that bitcoins might reach $50k dollars before the year ends so keep on holding your coins right now because the market will pump up eventually since the market is in dip.
Many of the industry experts believe bitcoin will be a world currency in the coming month's bitcoin can be internet most favored currency very soon in next 5 years
What bitcoin has done in the past has proven that it is a legitimate place to hold and build wealth (I always like to think of it as gold). the market is ranging between .5-.8 trillion. Experts all have no doubt it will reach 5 trillion, and a lot of experts even say that it could and maybe even will be worth 1 million dollars one day.
So for the purpose of this topic, lets just assume all this is true and here we are 2 years later and bitcoin is lets say 100k.
Everyone is freaking out because they fear the value of the dollar and other paper currencies will go down.
So there has to be a point in this transformation of worldly currency, that the value of bitcoin begins to overall outweigh the dollar in a way that its not worth holding anymore and should be invested into assets because from then on out holding bitcoin would have the value of a lot of dollars but because of that the dollar wouldn't be worth anything...so then at that point what would the bitcoin value even be based upon?
Do you guys think that (assuming everything i say becomes a reality) that it would get to a point where you'd be better off investing your bitcoins into assets because it has no more room to grow since the US dollar (and other paper currencies) at this point has become almost irrelevant?
Just a thought i had today and i thought it was interesting and that i'd share with you guys.
P.S. is there anywhere i can change my user? lol
Man, you just don’t know what you’re saying. Seems like you’re among the lucky winners of 2017 and you’re saying this out of your own greediness. Very good, since you made a lot of profit, have you thought of those that lost their money last year? I lost about 40% of my investment and my friend lost about 50% and there is nothing funny about it. So for the purpose of this topic, lets just assume all this is true and here we are 2 years later and bitcoin is lets say 100k.
Everyone is freaking out because they fear the value of the dollar and other paper currencies will go down.
So there has to be a point in this transformation of worldly currency, that the value of bitcoin begins to overall outweigh the dollar in a way that its not worth holding anymore and should be invested into assets because from then on out holding bitcoin would have the value of a lot of dollars but because of that the dollar wouldn't be worth anything...so then at that point what would the bitcoin value even be based upon?
Do you guys think that (assuming everything i say becomes a reality) that it would get to a point where you'd be better off investing your bitcoins into assets because it has no more room to grow since the US dollar (and other paper currencies) at this point has become almost irrelevant?
Just a thought i had today and i thought it was interesting and that i'd share with you guys.
P.S. is there anywhere i can change my user? lol
There are lots of people making profit from Bitcoin, same as there are people who are making loss, in fact those that are making loss are more than those are making profit, but this is all about having patience.
What bitcoin has done in the past has proven that it is a legitimate place to hold and build wealth (I always like to think of it as gold). the market is ranging between .5-.8 trillion. Experts all have no doubt it will reach 5 trillion, and a lot of experts even say that it could and maybe even will be worth 1 million dollars one day.
So for the purpose of this topic, lets just assume all this is true and here we are 2 years later and bitcoin is lets say 100k.
Everyone is freaking out because they fear the value of the dollar and other paper currencies will go down.
So there has to be a point in this transformation of worldly currency, that the value of bitcoin begins to overall outweigh the dollar in a way that its not worth holding anymore and should be invested into assets because from then on out holding bitcoin would have the value of a lot of dollars but because of that the dollar wouldn't be worth anything...so then at that point what would the bitcoin value even be based upon?
Do you guys think that (assuming everything i say becomes a reality) that it would get to a point where you'd be better off investing your bitcoins into assets because it has no more room to grow since the US dollar (and other paper currencies) at this point has become almost irrelevant?
Just a thought i had today and i thought it was interesting and that i'd share with you guys.
P.S. is there anywhere i can change my user? lol
Obviously the day is not away when bitcoin will declared as a sovereign currency of the world. Bitcoin has a very great potential to be very great and has always proved its worth. Who do ever believe in bitcoin, bitcoin has always helped them to recover their poverty, the only thing you need to have that you can consider it as a limitation of bitcoin also that you need to have knowledge of internet only otherwise there is no doubt that bitcoin is becoming the supreme currency globally. So for the purpose of this topic, lets just assume all this is true and here we are 2 years later and bitcoin is lets say 100k.
Everyone is freaking out because they fear the value of the dollar and other paper currencies will go down.
So there has to be a point in this transformation of worldly currency, that the value of bitcoin begins to overall outweigh the dollar in a way that its not worth holding anymore and should be invested into assets because from then on out holding bitcoin would have the value of a lot of dollars but because of that the dollar wouldn't be worth anything...so then at that point what would the bitcoin value even be based upon?
Do you guys think that (assuming everything i say becomes a reality) that it would get to a point where you'd be better off investing your bitcoins into assets because it has no more room to grow since the US dollar (and other paper currencies) at this point has become almost irrelevant?
Just a thought i had today and i thought it was interesting and that i'd share with you guys.
P.S. is there anywhere i can change my user? lol
What bitcoin has done in the past has proven that it is a legitimate place to hold and build wealth (I always like to think of it as gold). the market is ranging between .5-.8 trillion. Experts all have no doubt it will reach 5 trillion, and a lot of experts even say that it could and maybe even will be worth 1 million dollars one day.
So for the purpose of this topic, lets just assume all this is true and here we are 2 years later and bitcoin is lets say 100k.
Everyone is freaking out because they fear the value of the dollar and other paper currencies will go down.
So there has to be a point in this transformation of worldly currency, that the value of bitcoin begins to overall outweigh the dollar in a way that its not worth holding anymore and should be invested into assets because from then on out holding bitcoin would have the value of a lot of dollars but because of that the dollar wouldn't be worth anything...so then at that point what would the bitcoin value even be based upon?
Do you guys think that (assuming everything i say becomes a reality) that it would get to a point where you'd be better off investing your bitcoins into assets because it has no more room to grow since the US dollar (and other paper currencies) at this point has become almost irrelevant?
Just a thought i had today and i thought it was interesting and that i'd share with you guys.
P.S. is there anywhere i can change my user? lol
bitcoin as a decentralized crypto currency is certainly one of the factors causing the government to be unwilling to adopt bitcoin as the official currency. so I think to achieve as everything you say would be very difficult. because I think how many investors will invest in bitcoin but in government authorities it is impossible to let fiat currency disappear or not worth at all. so I think the right thing maybe should be between bitcoin and fiat currency should keep running side by side.So for the purpose of this topic, lets just assume all this is true and here we are 2 years later and bitcoin is lets say 100k.
Everyone is freaking out because they fear the value of the dollar and other paper currencies will go down.
So there has to be a point in this transformation of worldly currency, that the value of bitcoin begins to overall outweigh the dollar in a way that its not worth holding anymore and should be invested into assets because from then on out holding bitcoin would have the value of a lot of dollars but because of that the dollar wouldn't be worth anything...so then at that point what would the bitcoin value even be based upon?
Do you guys think that (assuming everything i say becomes a reality) that it would get to a point where you'd be better off investing your bitcoins into assets because it has no more room to grow since the US dollar (and other paper currencies) at this point has become almost irrelevant?
Just a thought i had today and i thought it was interesting and that i'd share with you guys.
P.S. is there anywhere i can change my user? lol
That does not stop bitcoin from still acting as a currency in the long run with its own market and users, but fiat in a way will still remain and we may end up having some co-existence in the long run just as you have said. In that way, everyone is happy.
Bitcoin can not be a sovereign currency. The word "sovereign" means autonomy, independence and more suits the definition of a "sovereign state". Any crypto currency can not be sovereign. In any case, it depends on its users. It also depends on the other crypto currency, because the market is constantly interacting with different crypto currency between themselves.
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