Topic: Bitcoin to Become a World Reserve Currency - page 2. (Read 3242 times)

Lets be realistic - for many more years bitcoin will be still predominantly used by people whose business is related to the internet. Even if the dollar will crash, major countries would rather use Yuan or Ruble in international payments then bitcoin. Do you seriously imagine gas and oil contracts to be made in bitcoin?

Inflation hurts the saver and benefits the debtor.

Who is the largest debtor in the world?  Hint -> http://www.usdebtclock.org/

Just for the sake of the argument: Why would politicians like that scenario? (serious question)

so you like that a barrel of oil 10 years ago was X and now it costs you X+X

or put simply a loaf of bread cost you $1.50 now costs you $2.. which 'people' like that? .. oh not people, but politicians.. o i see. so we should not be a reserve currency to appease politicians. ..
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I can't see Bitcoin being the World Reserve currency, just like how you don't see gold as the world reserve currency. Now, I'm not saying Bitcoin is the equivalent to gold, it's just an example.

Bitcoin is like a currency, and it's like gold at the same time. So I doubt it would become the world reserve, even though it has a limited supply, but I think it would be better to have an ever-inflating fiat as the reserve, so it will look better for other currencies as opposed to having every currency keep dropping. People like numbers that go up.

seems from these posts like people want to keep bitcoin measured against FIAT and let the FIAT world do the hard work..

i guess no one see's the easy option of measuring bitcoin against a cost of living index and then make the FIAT lovers have to change their habits and evolve towards measuring things against true value before converting to their national currencies...

oh well seems we just sit on our hands and let the governments decide how to treat bitcoin again (face palm)

ive book marked this post so i can refer to it in a few years once people cotton onto the idea and truly see what effect it can cause if exchanges measured bitcoin differently

Nah, highly doubt that, to be honest. I mean it would be a great thing, but it is much too small currently. As of now the most daring thing we may see is some smaller country investing some amount in bitcoin.

Maybe he copied it because Forex Minute website is a fucking visual disaster when trying to read articles on mobile.

I can't see anything written because their banner ads block all the content.  You'd think one of them might use a cell phone to view their own site sometime.

-B-

That would be a giant step. Imagine holding such a big part in a world reserve currency! This would be unprecedented. Although I believe chances aren't that good.

Um, unless they are in copyright violation, what is your problem?

He gave a link to the story.

I would find this unlikely. A country's government gets to choose what currencies to hold as reserves and bitcoin is much to new and has too small of a market cap for this to be a possibility in the near future.

i think BRICS has a better chance than this reserve currency basket the article mentions..

im not sure if the article is suppose to be a half whit trying to understand BRICS but then throwing mud into the mix.. or he talking about something else.. but oh well.. i dont read ahametals much.. too little detail or lack of thought

the thing that i find truly funny is that people want bitcoin to be the reserve currency, yet they also value bitcoin to the dollar.. just like the ahametals. you cant have a reserve crrency if its a mix of multiple currencies.. and then to include dollar in that mix defeats the purpose..

it makes me laugh..
i personally value my bitcoins to my living costs EG
%rent, how many loaves of bread, pints of milk and tins of baked beans. i dont think of it as direct fiat value anymore. although i know somewhere in the middle it still requires converting to FIAT by the merchants i deal with.

cant wait till their employes and suppliers accept bitcoins too.

but these "bitcoin reservist" people shouting out bitcoin to become reserve currency and in the same breath shouting out, that bitcoins will then be worth thousands of dollars, have definitely missed the point of what a reserve currency is

if bitcoin was measured as a cost of living index. EG directly valued to household essentials without one whiff of mentioning FIAT then bitcoin has a chance.

i think the next idea is to have a bitcoin index where
bitcoin is given a global value that today its worth 2 weeks minimum wage salary
or x amount of oil barrels and just do away with dollar valuations, thus allowing the whole world to calculate bitcoin to their local currency based on the international index. ofcourse, demand will make the price raise to 3 weeks income, 4 weeks and upwards as bitcoins popularity rises. but atleast its not pegged to the dollar and then converted to other currencies

Why shouldn't they? Lazy people will find an easy way to accomplish a task - B.G.

Seems to be the case to me.

Hi Keanbosch, just a quick question, what's your relationship with ahametals.com? Are you doing astroturfing/seo for them? Is it your site and you're chasing backlinks? Almost everyone of your posts seems to link to stories that have been re-written and posted there.

here you go, the original source. The OP linked article even copied the same horrible graphic to go along with the article.

Well, they were kind enough to credit the work that they copied, but why should they be rewarded for simply copying somebody else's work?

I like the idea of Bitcoin going global because there is not one country or group of countries in the case of the Euro, that issues it.  It's a totally independent currency.  So it can't be controlled at the whims of central bankers.  But I think it would take a really long time to get used as a reserve currency, since it's supposed to be something that supposedly very "safe" and you can't say that for Bitcoin right now, I mean a 51% attack could totally knock it out and if a country was on the line you could see that happening, especially if a big country.

I doubt it will become a reserve currency but I think it could become like a one world currency. I think one is needed that can be used workdwide especially with little fees and bitcoin is perfect for this.

I think they've credited the source..