Topic: Bitcoin cannot be a global currency - page 59. (Read 5119 times)

It will possible if all people give a trust and hope of their investment it will be work in the future so it is not possible by this situation and I hope if it possible there is some good changes will happen definitely.

Yes bitcoin has the cent percent ability to be an globally currency if all people in the world hope bitcoin investing in future but it is not happen by this situation and so we will definitely hope that changes in the world.

I think bitcoin is just a global asset, not currency.

It is the leading cryptocurrency but as a global there are factors that many establishments, big companies and countries that are doubting it with it. Actually bitcoin is already being used as a global currency but there are some other things that we should divert our attention since this thing has been circulating around within the bitcoin community. Forget about replacing fiat, making banks gone, they are all institutions that are needed by a country, why not work all of it with bitcoin?

Definitely bitcoin can be the leading currency throughout the world in future.Though it is not valid in all countries but gradually it is getting adopted by big countries and companies which indicate a bright possibility for bitcoin.

Bitcoin has the potential to be the world currency. But for now, it seems like a future possibility. It’s always hard to take place of something that exists in mainstream for long time. Bitcoin still needs access and legal stay in all the countries, needs many more people involved in it to be the mainstream currency.

Bitcoin can be a global currency and it is utilize now all over the countries around the world, it's just there are some countries who banned this bitcoin but it is consider as a global currency in an online market. It can replaced the idea of traditional transaction in the banks and as the present technology with the helped to recognize the bitcoin, it is pretty much sure in the near future the bitcoin will be part of a legal global currency.

Wrong, There is no doubt that Bitcoin will be the currency of future.  Transactions of Bitcoin are increasing rapidly. It will turn into human resources in the future. Bitcoin also has a number of benefits that government-issued and government-backed currencies simply cannot offer. Many people are worried about the future of traditional currencies. Many people see Bitcoin as a natural hedge against the risk of traditional currencies, as well as a valuable safe haven should a crisis occur.

a good explanation, this is the name of the times. it just takes time to be able to accept it all. because now many governments are resisting bitcoin. but all that will disappear as the development of technology created by humans. we can not stay in place, therefore bitcoin will be the future of digital money world

Fiat and credit cards are so engraved into todays society that it would be very, very hard to stop using them, similar to fossil fuel. Well crypto-currency seems like the most superior form of currency so far, what can top it? The fact that you only need simple qr code to pay/recieve and no need to carry anything else is a great advantage, among all.


That's why I've said that state developed crypto, backed by something, will most likely replace todays physical money. 

There must be a certainty of each country, and what the cryptocurrencies user most anticipates is that there is a regulation that can support the use of Bitcoin in the global economic system. At least there should be an addition of a country that recognizes Bitcoin and makes the decision to legalize Bitcoin. This is important because by being legal Bitcoin will be increasingly free to use in various sectors, in addition it will increase investor confidence. With the increasing number of users and the growing number of transaction volumes then cryptocurrency, especially Bitcoin can be used as a global currency. It will not happen quickly, but we are optimistic it can happen in the future when we can support it from today!

Bitcoin is not recognized by bank as currency, so it will never be a global currency. Other than that, every country have their own type of currency with different values, and change of fait to bitcoin will never be easy. It will take a lot of time for it to happen, and if the government will allow it.

I consider bitcoin as an investment tool only if it is more real and people who assume it as an investment, where bitcoin prices are relatively fast changing and never stable. This may be a bitcoin character is an investment character.

yes, if bitcoin wants to be a global currency all countries should legalize or approve, we know at this time that there are still many countries that prohibit this digital currency for various reasons. it is quite difficult to be true if there are still plenty of pros and cons.

For now it seems to be difficult that btc can become globally recognized as single currency because for that it requires years of existence with stability and accepted worldwide It is being banned in few countries and majority still do not own a stand for or against it yet.

Linking today's technology with philosophy is like asking an atheist to believe in the existence of God just because the convincing party is theist. Bitcoin came into picture not exactly to make up for the deficiency in the current monetary system, but in order to make it highly secure and easily accessible although being based online. Who knows, we may even come up with better tech in the near future, marking a new era of easy payments but for now, lets just crown blockchain as the flagship here.

Well it depends. I think Bitcoin needs a little more to proof.
Bitcoin is likely a paper money. Again if Bitcoin can remove it's unstableness in value then it may be accepted to many countries. To be a global currency Bitcoin also need to accurately follow some principles.
Overall I think Bitcoin need to upgrade it's security, it availability, it exchanging process also need to be developed and many more.
If Bitcoin can't be a global currency then no other currency can be global.

IMO it is still 50/50.
if viewed from the positive side its bitcoin could be the world's currency for several reasons, that is.
first, Stabilize the market.
Bitcoin provides a temporary solution to market stabilization efforts.
second, Reducing inflation.
The high circulation of the currency makes the government powerless because it lowers people's purchasing power. As a result, the economy is stagnant, immobile and probably dead.
third, Reduce transaction costs.
Not everyone likes to transact through banks or connect with banks today. The fact that the banks are greedily withdrawing money from over-the-counter transaction fees makes the public feel embarrassed by illegal levies simply because banks want to increase their fee-based income.
fourth, can Restore public confidence.
By allowing Bitcoin as one currency to transact electronically, it means the government understands what is needed by the community, that is, an alternative solution when the standard solution stops.
there are again some negative reasons that bitcoin does not deserve to be a world currency, the reason being that is.
first, extreme bitcoin Volatility.
Using the US dollar as a benchmark, Bitcoin is 11 times more unstable.
second, difficult regulation.
Nothing makes the government body hot and nervous in addition to the popularity that involves money.
third, High security risk.
This fact became legitimate when the hackers managed to steal 119,756 Bitcoin in hongkong a few years ago.
so this is just a matter of time. will bitcoin be a global currency or not! I think no one knows about this problem yet.

It is not clear to me whether we are referring to bitcoin here as metamorphosing in fiat global currency - and this is impossible to happen.

Or, whether we are talking about bitcoin remaining as cryptocurrency and being a globally used cryptocurrency with any fiat currency.

In my view from second paragraph, bitcoin can only remain as cryptocurrency and won't become a globally used currency, replacing fiat. This is owing to the disadvantages. Topping the list of disadvantages is internet facilitation.

The hesitation of the government to give bitcoin time to be competitive in the global currency arena is its decentralized feature. They are afraid of money they can’t control or they can’t profit. If this can be change or at least slightly favour them as a politician financially, a possible talks about global currency is near. This is impossible in nature and would the community will allow it. Who knows!