Topic: Bitcoin becoming the sovereign currency (Read 685 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

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

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.

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.

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

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.

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.

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

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.

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.

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.

That idea of decentralization is something they obviously will find very hard to absorb in their head. Centralization has been a norm for them and giving that up for decentralization is one thing we all know is impossible.

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.

Exactly! No government will actually want to give the full power to the people and that is the main reason they would rather keep finding ways to make fiat work. However, like you said, even without the government in the show, we have been making use of bitcoin as a currency until recently that it is becoming more of a speculative asset.

As far as I am concerned, even though they would both have to go hand in hand, most people who are smart enough will eventually find out it pays to make use of bitcoin than fiat.

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.

I think it is due to the fact that they(government) were still trying to make more regulations about of the legality of bitcoin. While some are still arguing about of the banks vs cryptocurrency that's why i think this is the main reason that they keep on talking about this all over again.

Of course, any country won't accept the fact that bitcoin could be their legal tender except for Japan. Although bitcoin is treated as money for most of us, still government doesn't want it to consider because its decentralizes and its open for price manipulation. Plus what will happen to the established financial systems like banks in a country? So let's put aside the idea that bitcoin could be main currency. Let it be a investment instrument for most of us, store of value and hope that our own country will accept it so that we can enjoy the fruits of this new technology.

In my opinion, Bitcoin is always been the sovereign currency, It used by most people in the world inside the crypto, and it is the currency that is talking by mostly all nationalities in this forum, You can do a lot by using bitcoin, High profit, balanced market and great platform, the product mostly are the worlds next technological advancement.

If the public's confidence in the sovereign currency disappears, the state expects hyperinflation. In this case, the value of national money primarily falls in relation to the value of liquid goods, such as gold or foreign currency, for example, the US dollar

The finance ministers and heads of central banks of the 20 countries prepared a draft regulatory document that states that the crypto currency "does not have any signs of sovereign currencies" and should be regarded as an asset

I think the possibility of bitcoin being the country's currency is very small because now every country still has its own currency that has been very long applicable in the country and has been very long known by the public, so chances are small they will change their currency.

I have met a lot including myself. Its not because of anything but because of market instability. The market is really poor that the value of my coin has depreciated since the day i bought it as at the price of 10k till now. I am really worried even though i calculated all the risk involved. The loss i will incur will be very great if i should sell out.

my personal views related to the opinion above I agree and justify it, by looking at facts in the field as data, 100% I am not sanctioned that sebanarnya world crypto has started to open our view of modernization both technological and even asset including mindset, and very likely when the assets of crypto, bitcoin and altcoin are of general concern when they can compete even more than the dollar, and it is very and necessary to be considered more profoundly both from economic to cultural analysis, and we must be prepared for that, precisely in the resurrection of our crypto more mature with the economy because crypto becomes privacy and invidual wealth that is not bound by anything including government and bank regulation, and I think the government should support and create comfortable conditions, hopefully useful and successful for all of us

No country will even want to jeopardize the idea of centralization and leave it all up for decentralization to rule. I am not sure how that is going to play out, but I want to believe it is something that may not play out at all.

Bitcoin is a store of value and that is what I believe it is going to keep being whereas even as a store of value it still serves as currency but let us not forget that even though it is accessible to everyone, not everyone will find it easy to access and that makes two community in the long run with one being a fiat community and the other being a crypto community.

Bitcoin is the best way to get extra money without spending your time at the office. All you need is to study the technology, learn information about bitcoin market and make an investment.

You have to keep in mind that our goal is not to make the price of crypto currency higher, but ultimately to make the price more stable and less volatile to actually achieve adoption by businesses. I'm pretty sure when this happens  BTC's price will be lower although very much stabler than it is now. Right now, yes it is better off investing short term on BTC.

bitcoin as the country's currency is very far from the possibility. because bitcoin does not have an official institution to create a law on the subject. bitcoin too independent does not meet the standard laden as the country's currency

You can’t be just so pessimistic. Time has changed now and if you make a comparison of bitcoin with bitcoin of 2009 and around, you would be seeing a comprehensive difference. The reason behind this much gap is performance of bitcoin. Plus the love of people for bitcoin have increased and now they want more bitcoin in their lives. They want to make their lives amazing.

I do not think that bitcoin in the near future can rise in price to one hundred thousand dollars. So far this is not realistic, and I do not know whether it will be good for him or for the whole country. If bitcoin rises to this value, then the risk of investing in it will increase substantially. Then at any moment there can be panic because of negative information and bitcoin after that can fall in price to the level of its practical depreciation. That is, a significant increase in the price of bitcoin can bring about its depreciation. This will greatly damage the popularity of the entire crypto currency.

Not necessarily... A few of my friends' investments into Bitcoin has been to divest their original investment amount once the price has doubled. I started recommending and suggesting investing into Bitcoin to these friends when the price was around $250-500USD. So once the price doubled, they took out their original investments and let the rest ride (upon my suggestion). I'm normally not one to offer financial advice when it comes to Bitcoin, but these friends are now Bitcoin millionaires.

In their eyes, they've doubled up on their investment within a year, and still have millions in their crypto portfolios. I guess timing was perfect for them, and chances are that this won't be possible again in today's cryptoconomy, but I just wanted to relay these experiences to "disprove" your statement lol

If at some point bitcoin becomes so valuable that it displaces the fiat currencies as a point of reference then bitcoin itself will be the point of reference and other things will be valued in bitcoin instead of bitcoin being valued in dollars, I know this may sound strange in a world where everything is valued in dollars but that can change.

That's almost impossible to happen. Realistically, if you invest $50,000 in something, you will likely start cashing out profits at the moment you are up 50%. In case you only cash out half, you will likely end up cashing out the rest if the price once again increases with 50%. No one could have ever seen the price increase that much within the same year. In the same way the majority of the early birds have been cashing out their coins throughout the years. Only people who are firmly holding their coins no matter what the value is will be able to book 1000% gains in the long run. It's definitely not as easy as you state it to be. Only a few manage to do that.

Correct, while making money with bitcoin may seem to be a very complex activity at the end it can be resumed as just hold until the price is higher than the price at what you bought, a person that did not know anything about bitcoin but that was persistent and patient enough could be rich by now if that person invested a big enough capital just in the last year, think about it a person that invested 50k at the beginning of the previous year and sold at the top could have 1 million dollars.

Yeah many investors putted their money just for making more and more money and not to use their holding, while the creation of bitcoin was not for making money but to use one currency in the whole world. When the people treat bitcoin just as a currency and never calculate with their local currency the use of bitcoin will increase and the investment cap will grow more.

I think about other hypothetical situations but the fact is Bitcoin does not let anyone down so far and those who buy it for a low price sell it at a higher price generates huge profits.

I don't understand why people are making statements as if bitcoin will replace fiat. That is not the mere reason why bitcoin was developed. We always relate bitcoin with fiat. So considering what you're saying that fiat will somehow lose its value in the future, what then? I really see no rivalry between bitcoin and fiat. So i feel there is no need to argue things like this

Well, no one knows how the future is going to be playing out, but judging by how things have been and how things are now, I am not certain there would ever be any possibility of that happening at all. As days go by, I believe with the government not having much say or control over bitcoin, it would be accepted in a way but as a means of payment and not to replace fiat.

We all know bitcoin is not going to spread around, as there would be some who would still prefer the traditional system they have been used to and some due to limitations when it comes to internet facilities and some other things, may find it hard to even make use of.

Blockchain technology will certainly be used extensively in all areas of human life. That's for sure. However, Bitcoin is not. Bitcoin is just a currency for this technology. It was bad but I was forced to negate the effect of Bitcoin.

Bitcoin is going to become single largest currency world will ever see in the coming future the growth potential is too huge in the coming days

This is not a valid point. They lost their investment not because of bitcoin or any of its features. They lost it because they trusted the wrong person and this has nothing to do with BTC. If you sign a paper that grants someone access to your home, it has nothing to do with the real estate industry. You didn't have to be a genius to buy BTC at any point since 2009 and hold it. If you did so, you are now one of those millions of "chosen ones" who at some time in their life held BTC and sold it for a higher price.

At some point in the future the potential of bitcoin could be fulfilled but that does not necessarily mean that it will stop growing that will only be possible if bitcoin was the only currency and cryptocurrency used around the world and that is unlikely, but it will come to a point in which bitcoin will reach its maximum market penetration at that point if you are an investor mostly concerned about profits that will be the best moment to sell and do something else with the profits you accumulated over the years.

There were people got lose their bitcoin because they got scammed. Once we are victims it is really hard to on the go into the process of healing. The profit is for everyone but only few that seems are chosen to experience the benefits of bitcoin.

I think that people are slowly realizing how governments are have scammed us over the past decades and how their currencies are just worthless, and they only have values because they said so, and they are realizing how much bitcoin is revolutionary and how much it changes the way we look at money, and i am pretty sure in no time all currencies will become irrelevant and useless, and people will find them selves using bitcoin.

Bitcoin prices will always grow but to become the sovereign currency is a very impossible thing to happen. The decentralization system is a factor that makes a country reluctant to adopt and provide for the bitcoin to flourish.

Indeed, bitcoin price is based on the user, but it does not mean that bitcoin users will pay off entirely with bitcoin, there will always be a time when all bitcoin users use fiat currency for a transaction. It is not easy to change the mindset of humans to make bitcoin as a single currency, at a price of 100k (if it happens) the dollar and other currencies will still have the same function.

will there is nothing wrong of assuming that someday this bitcoin becoming the sovereign currency to the whole world and its leads no1 in the exchange market as crypto than dollar or other fiat currency,therefore its worthy to investing bitcoin now and become a part of cryptocurrency world,because maybe someday all this assuming about bitcoin can lead us into have a great monetary fund into our capital.

I think you are right about this, once the general public realize what Bitcoin is and how much better it is as a store of value, then 100k per bitcoin would not be that far fetched. Most people are lazy by nature and it takes a financial crisis of some sort to force them to look at other alternatives, like Bitcoin.

I only knew about Cash and Credit cards and when my Credit card details were stolen and used online.. then and only then, I looked for other alternative payment solutions. < I was lucky to stumble onto Bitcoin > 

Bitcoin's volatility is definitely a factor of attraction, but it's actually changing, and will change even more when economical difficulties start knocking on the door, which we aren't all that far away from. Bitcoin is Gold, but then the digital equivalent. It will (and already does) serve as a very easy to access hedge against anything the regular economy exposes you to.

Why would you buy a promise on paper in case of Gold, when you can actually hold billions of Bitcoin without needing to store it elsewhere due to the fact that there is no bulk and whatnot. Buying paper Gold isn't the same as buying actual Gold, and if you buy actual Gold, you need to store it somewhere because you definitely don't want that bulk in your house. It's one of the plenty major advantages Bitcoin has over Gold, and that advantage will translate into capital flowing out of Gold to Bitcoin eventually.

We are in the dumb usage stage. Within 5 years we will see a completely different market and completely different uses of Bitcoin.

it will not be because bitcoin can not be owned by anyone and if you know bitcoin or other digital currencies you can use but you can not have as a patent that bitcoin is your country coin because it is all countries already wearing it.

Well expecting surprises might be a good thing but being optimistic all the time calls for being realistic as well. If the value of bitcoin reaches $1 million dollars, the demand for such cryptocurrency would be high and its supply might decrease. Not to mention with that value being that significantly high, investors would actually pull out their investments due to the risk and threat of its value dropping. Its decentralized and high-volatile nature make bitcoin as 'high-risk, high-reward' type of investment wherein you are holding a double-edged sword on your part.


Assuming that bitcoin would be regulated in the future and its value would be less-volatile, the number of investors might pull-out their investments. What makes bitcoin as an opportunity to most investors is its volatile price. Some consider this as a short to mid-term investment since its price may skyrocket at any time- which makes this the perfect tool for risk takers.

Right now investing in dollar is not worth it anymore due to inflation. The introduction of bitcoin shows that we can fight inflation by limiting it but we cannot do it in anyway because as the history suggest, it will create chaos in monetary system. Maybe the one that will be gone is the foreign exchange because of cryptocurrency.

some people may getting profit with with it and some are suffer the loss from it, we are hoping that bitcoin can legitmate accepted by the people in this world as an currency payment, so it can take people to exchange it in any of fiat money

It won't happen. Never.
Not because btc isn't a good currency or a legit one. Of course it is.

But simply because dollar/euros/pound/yen or whatever are backed up by humans. Countries. Weapons. Armies.
It's not the case of btc. Btc is supported by nothing. A bit of trust and computing power... That's all.

Don't take everything that glitters for gold. Btc is good but not the graal.

Bitcoin, much like any other crypto currency, is an investment in itself. But then again, if the question is growth, once BTC achieved a stable value then it always has room to grow. Plus it has many competitors such as a long list of alt coins out there. Projects will be built around it and of course demands for it will increase. Either way, there is always an improvement.

It seems unlikely right now to see bitcoin all of a sudden overtake fiat in terms of daily usage. I think that there is a chance that this scenario will eventually happen, although currently we're definitely not close to that yet.

But you have to understand that bitcoin is a currency. If people feel like that they want to cash out their bitcoins in order to partake in some other venture, they are welcome to do so. People are already using bitcoin to invest in assets, so it's not like it's going to be any drastic changes here.

I don't really understand where your concern is coming from, honestly. There will always be demand for bitcoin, as a store of value. Not always will people want to invest in things or buy things, and even when they do, the bitcoin just ends up on another person's hands. If you're talking about the fact that once adoption hits its peak, there is no more room to grow, then that could be true to some extent. In that scenario, if it ever happens, I would definitely try to seek to invest in other things with more potential since bitcoin's potential by then would be mostly fulfilled, as in your scenario, fiat is already completely worthless. It's completely hypothetical, though.

It seems impossible if for example bitcoin into the currency of a country because now every country has its own currency and currency used by the country has been very long in use and already all people know the currency and also the currency of a country is the identity of a country .

Your thinking may become a reality in the future, where the local currency will lose its value and will be replaced by a digital currency such as bitcoin. But initially we also still need a reference paper currency such as dollars or euros to determine the value of bitcoin.

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.

It is very unlikely we are going to reach that point, even if the sovereign currencies of all the countries were in a state of crisis governments are not going to give their right to print their own currencies and accept bitcoin, they will lose power if that happened however we do not need recognition of the government if bitcoin becomes the most widely used currency around the world then there is no doubt that bitcoin would have achieved its goal to become a currency you can use without any third party interference.

Around a few years back people were thinking that bitcoin never reaches 10K and it will be unrealistic. But bitcoin has surprised everyone in just last one year it went up to 20K. This market is not controlled by any institution or government so anything can happen either it can reach to 1 Million or similarly it can go down as well. As a crypto investor, we should be always ready to receive surprises from this market.

$1m is absurdly unrealistic. If that happens then the demand of Bitcoin is superb that all other altcoins is neglected. Nowadays crypto competitions is high and it is difficult to reach that certain amount you said.

Bitcoin has made a lot of changes to the world, Bitcoin is a pioneer of crypto coin, bitcoin has made a lot of changes in people's lives, everyone believes that bitcoin values ​​will continue to grow and get higher.

If the bitcoin'value gets to the figure of $1 million and overcomes the whole process of gold capitalization then that would be great but let's not run ahead of a boat and see what happens. 

If your scenario played out we'd have so much money (all of us) that we'd simply have to allocate this wealth into other investments like real estate, collections, precious metals, art... It would be unwise to keep millions in BTC while living in a small flat and driving an old car.

You want to change your name? Since you're a newbie you can simply make another account. Maybe they would agree to change your name if you donated enough, but it's not worth given your current rank.

The price and cost bitcoin does not affect the price of oil, gas, gold, diamond and other minerals. It seems to me, very soon the cost bitcoin will affect the value of many currency currencies. It is already a sovereign currency.

We are still ahead. There will also be rises in the price of bitcoin, and there will be losses when its price suddenly collapses down on a larger scale, as after the December recession. Maybe after that people will be afraid to invest large amounts of bitcoin and hold it, and we finally get a normal bitcoin for making various transactions, that is, using it as a means of payment, as it was intended by Satosh Nakamoto.

Personally, I don't think the governments would even let that happen or let bitcoin go so big that it will outweigh the dollar and other fiat currencies. Besides, there are still entities that hold vast amounts of bitcoin that they can control the economy at will if they wanted to. But if ever that happens, we will see smaller units for bitcoin and every marketplace and establishments would be accepting it since it carries more value than your traditional fiat currencies around. We're far from being a society run by digital cash and with the amount of bitcoin in the hands of a few, I doubt if we'll ever come close to that.

If bitcoin ever becomes the currency of choice of one particular country, or potentially of the entire world, then obviously people are going to use it differently to how they are using it right now, and that pretty much goes without saying.

Right now bitcoin is seen as more of a store of value than anything else.

If adoption rates increase so much in the future, that the bitcoin market share as a currency increases drastically to outweigh fiats, then it would mean that bitcoin would simply perform the roles that fiat performed in the past. And as more merchants accept bitcoin, it's no wonder that whether transacting or buying other assets with bitcoin as a primary currency will become more prominent.

Do not look at the price of the Bitcoin because it reflects people's willingness to pay for it.
The limited supply makes the bitcoin as important as the price increases day after day. Supply and demand base
The price may reach 1 million and may not arrive but adopting it as an investment is a waste of time.

Bitcoin-based on an algorithm and the ease of making transactions with a minimal fee.

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In my opinion, the bitcoin has a certain value. people who recognize this consensus come from many countries. De facto, actually bitcoin has become one of the world's currency. Accidentally bitcoin has become one of the country's currency.

We can think about any other hypothetical situation but the fact is Bitcoins haven't disappointed anyone so far and people who bought them for low sold it for higher prices making huge profits. On the other hand those who got them for higher price are not willing to sell them on low price and waiting on its prices to get stabilise which will happen soon.

Now this consensus is already established, that bitcoin has a certain value. people who recognize this consensus come from many countries. De facto, actually bitcoin has become one of the world's currency. so indirectly or unintentionally bitcoin has become one of the country's currency, just in my opinion.

Bitcoin has already affected the lives of many people and it’ll change also financial situation.

Me too, i didnt encounter  people who suffered losses from bitcoin, however interms of becoming successful bec. Of btc there are a lot, many people change their lives and became more convenient in living, once you get in your dreams is reacheable.

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 also do not have such acquaintances who would have lost in crypto-currency, but the one who made a profit, there are a lot of examples. It was they who were successful people in crypto currency invited me to this market....

I think in this world where the dollar looses its value would mean that bitcoin would be way more likely to become a reserve type currency with a strong store of value so I suppose its a case of what your goals are, if your investing to see 50x gains then I don't think btc at that point of real estate will be the right investment for you. To be honest I think we are very lucky to have been alive and involved when a new market is emerging. These are the things that will be discussed by future generations, the way we talk about the gold rush or the initial stock market bubble.

Have you met people who suffered losses from bitcoin investment? I haven’t. But I saw many who achieved profits.

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