Bitcoin Replacing U.S Dollar as the global Reserve Asset - page 3.

electronicash

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Quote from: avikz on August 10, 2021, 09:01:31 AM

Lol! I don't see it happening ever. Unless,

1. China attacks America with nuke and vice versa and then both countries disappear
2. Hyperinflation enters US
3. Taliban overtakes Washington DC

In a nutshell, US has to fall from the position of a superpower for bitcoin to become a reserve currency. Also most other nations should not be in a position to become another superpower.

Government dislikes anything that is not controlled by them. So I don't see it happening ever!

you can actuallly forsee it coming because all these super power countries today seem preparing for war. even UK that isn't too powerful is trying to portray like they are in South China Sea. for now you can see skirmishes in Lebanon, Afganistan which Biden is once again sending troops.

if BTC becomes Digital reserves without war, then all the.series of debates about crypto bill amendment are just soap opera.

avikz

legendary

Activity: 3080

Merit: 1500

Lol! I don't see it happening ever. Unless,

1. China attacks America with nuke and vice versa and then both countries disappear
2. Hyperinflation enters US
3. Taliban overtakes Washington DC

In a nutshell, US has to fall from the position of a superpower for bitcoin to become a reserve currency. Also most other nations should not be in a position to become another superpower.

Government dislikes anything that is not controlled by them. So I don't see it happening ever!

BIN-BIN

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Quote from: Jawhead999 on August 10, 2021, 07:43:51 AM

Bitcoin can be global reserve asset when the price is already million, so it's will be more stable and of course every countries already accept since they already believe about Bitcoin. But 2025 is too soon, probably 10-25 years more we can see Bitcoin become global reserve asset.

I don’t think the price of bitcoin has to reach a million dollars before bitcoin can serve as a reserved asset, with a stable price at $100,000 Bitcoin can attain that rank in the exchange market.

ChiBitCTy

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Count me in as a bit skeptical for anything like this happening. I think that there are way too many countries right now that simply will not allow bitcoin to present on any sort of platform of theirs, let alone adopt it as the world's reserve currency. Also, bitcoin has to act more so like a currency in order for it to be considering as the worlds reserve currency. It is currently too slow and too expensive.

BlackHatCoiner

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Farewell, Leo

Bitcoin is, socially, something new. It may replace the dollar as a global reserve currency in the far future. I actually believe that it's a matter of time; that it is inevitable.

Although we shouldn't hold our breaths. Even if it never does, it'll surely be a recognized currency due to its resistance from the government. People usually seek for revolutionary solutions. Bitcoin will always be seen useful by some people and that's a fact whether the governments choose to use it or a small community of crypto anarchists.

ajochems

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Quote from: BIN-BIN on August 10, 2021, 05:50:38 AM

With the mainstream and institutional adoption of Bitcoin, the coast is becoming clearer to analyze bitcoin becoming the global reserve currency if the current trends continue till 2025 I see bitcoin rendering the present reserve system useless because Bitcoin will outperform another global reserve asset in terms of price and market cap and circulation reason being that.

Factors that will put Bitcoin over the U.S dollars as global reserves.

1. The major reason that will pave the way for bitcoin to become the global reserve asset is the fact that Bitcoin has a fixed calculating supply of 21 million Bitcoin which can not be added and this makes the currency immune to inflation.

Unlike the U. S dollars, the government can print additional currency notes at will, which makes it prompt to inflation, and has no calculating supply.

With the current global economic meltdown, which gave birth to a high inflation rate, the world trade union will not hesitate to replace U.S dollars with a currency that has a fixed supply and market dominance like Bitcoin in the future when the enabling environment is created.

WHAT ARE YOUR VIEWS ON THIS?

We are able to see the topic like this over a huge period.The reason behind this was very simple.Over 70 percentage of world population is holding of crypto currency for now.If the bitcoin replaced the U.S Dollars,we can able to see many new millionaire in a couple of days.If you want to became a billionaire,you need to hold the coin for 6 months after the exxchange.

KingsDen

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Goodnight, o_e_l_e_o 🌹

The 21million cap you see as a factor for btc to becoming a global reserve currency is also its limitation. Have you also considered its volatility? Who will reserve wealth in a highly unstable asset you don't control?
Have you thought about the scalability issue?
Besides, its legal requirement and regulations across different countries is a limitation to it being a global reserve.
Let btc be what it is created to be and the most important to me is its sustainability and not to control the world.

Jawhead999

legendary

Activity: 1834

Merit: 1208

It's nonsense, there's no relation between inflation and global reserve asset.

To become global reserve asset need a lot requirement :
1. Flexible to convert and can be used in foreign countries.
2. Stability and transparent
3. Every countries accept and trust it.

Bitcoin can be global reserve asset when the price is already million, so it's will be more stable and of course every countries already accept since they already believe about Bitcoin. But 2025 is too soon, probably 10-25 years more we can see Bitcoin become global reserve asset.

BIN-BIN

member

Activity: 504

Merit: 57

With the mainstream and institutional adoption of Bitcoin, the coast is becoming clearer to analyze bitcoin becoming the global reserve currency if the current trends continue till 2025 I see bitcoin rendering the present reserve system useless because Bitcoin will outperform another global reserve asset in terms of price and market cap and circulation reason being that.

Factors that will put Bitcoin over the U.S dollars as global reserves.

1. The major reason that will pave the way for bitcoin to become the global reserve asset is the fact that Bitcoin has a fixed calculating supply of 21 million Bitcoin which can not be added and this makes the currency immune to inflation.

Unlike the U. S dollars, the government can print additional currency notes at will, which makes it prompt to inflation, and has no calculating supply.

With the current global economic meltdown, which gave birth to a high inflation rate, the world trade union will not hesitate to replace U.S dollars with a currency that has a fixed supply and market dominance like Bitcoin in the future when the enabling environment is created.

WHAT ARE YOUR VIEWS ON THIS?

Topic: Bitcoin Replacing U.S Dollar as the global Reserve Asset - page 3. (Read 462 times)