Can Bitcoin become a global currency ? - page 2.

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Quote from: harapan on August 12, 2022, 05:04:05 AM

In my opinion, bitcoin being accepted and used as a global currency is a fallacy. I don’t think it would ever happen cause for it to become a global currency, the fiat system of payment would have been phased out and that’s not happening any time soon. Most governments of various countries have openly criticized and denounced bitcoin so btc being a global currency isn’t really possible now or anytime soon.

It is the fact that we have always wanted bitcoin to be the currency of the world that has made the government more annoyed with bitcoin. I must admit that this is highly unlikely and seems like a mission impossible, how will the fiat system disappear and be replaced by bitcoin? It is unlikely that the government will allow that to happen, regardless of what they have to do, unless they figure out how to control the entire bitcoin market.

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Since it was created and gained so much fame, bitcoin has caused numerous speculations. Many experts are confident that it will become a currency used throughout the world in a very short time, and others just think that it will continue its normal course. The truth is that this currency is very unpredictable, most who know it know that it works more as a type of savings that produces considerable money in the long or medium term depending on how it is managed, using it as a current currency as it is done with traditional money will be a bit difficult as you would prefer to handle this differently; It may be that if it becomes used by more people and could become very important in the future for world economies, but I doubt very much that it can replace traditional assets.

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Quote from: TravelMug on August 13, 2022, 07:29:20 AM

Quote from: ?? on ??

Bitcoin will become a global currency when fiat currency is no more.

I'm not sure if fiat will just disappear or will have no value. It will remain dominant, the banking system will continue in the next centuries.

Quote from: ?? on ??

But since fiat currency is still valuable in any other country. So with what I'm seeing today i have notice that cryptocurrency and Bitcoin will not take over the responsibilities of Fiat currency, i believe agree that bitcoin has it channel of currency but as to control or dominate Fiat kind of currency. If bitcoin should take over fiat what can we be using to buy our needfuls and our demands

Crypto though will be a good option. Another means to pay and uses as digital money and many more. But it won't simply replace the dollar, even if people losses trust on fiat system, I don't see crypto taking over. Maybe what crypto can be in the future is that it could be view as a new world reserve currency, maybe just like gold or any other precious metal.

Cryptocurrencies are now all over the world.There will come a time when the whole world will use cryptocurrencies together.People are reaching the peak of progress day by day but everything is progressing more and more.Every person now always wants more convenience.But everything but we see in cryptocurrency we can send millions and billions of dollars from one customer to another in an instant.And there are more special benefits that are seeing people flocking to Bitcoin more and more.Still since Bitcoin is popular with everyone then surely we can say it is a global currency.Bitcoin is used by people all over the world but some countries still declare it illegal.

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Quote from: bestcoins1 on August 15, 2022, 01:01:25 AM

Quote from: Jatiluhung on August 15, 2022, 12:14:48 AM

I think fiat remains irreplaceable in becoming a global currency. so Bitcoin can not shift the position of fiat. but in fact that bitcoin has actually become a digital currency that is used globally on the internet. so I can say that bitcoin has become a global currency in internet users.

That is because of the different nature of the two and also based on the usefulness of each currency. So that Bitcoin is still widely used via the internet because it is also easier to use and use by the Bitcoin users themselves. Likewise with fiat which is still very easy to use in everyday life for every need in life, so the use of fiat in offline life is still very dominant than Bitcoin.

Despite fiat dominance , i would say that bitcoin has been a global currency right now , especially post-war between ukraine and russia ... there is a lot of transaction made through bitcoin due some payment restriction especially for those who come from russia , bitcoin become a safe haven!

Other than that , it's been quite wide used around the globe and when they faced an international payment problem ... bitcoin often comes to someone's mind. It's become a standard for bitcoin though.

Detritus

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According to what proceeds, Bitcoin will not be able to compete with standard currencies. So the question we can ask : can Bitcoin become a global currency?

I think you should have been more specific on your question. You did not mention if it was cryptocurrency or fiat currency.
Bitcoin is the first thing (crypto coin) anyone would mention if they were to be asked what cryptocurrency do they know, that is because Bitcoin is already serving it's purpose in many countries.

Quote

can Bitcoin become a global currency?

*In terms of other cryptocurrencies: Bitcoin is the first crypto anyone would think of or heard of, even before any other cryptocurrency so Bitcoin can become a global crypto currency.
*In terms of Fiat currency: Bitcoin is known as a digital asset that operates in a decentralised system so it can not serve as a fiat currency because because there for can not become a global currency for all. Most companies/business may decide to accept payment in Bitcoin but it can not complete be a global fiat currency.

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Quote from: Jatiluhung on August 15, 2022, 12:14:48 AM

I think fiat remains irreplaceable in becoming a global currency. so Bitcoin can not shift the position of fiat. but in fact that bitcoin has actually become a digital currency that is used globally on the internet. so I can say that bitcoin has become a global currency in internet users.

That is because of the different nature of the two and also based on the usefulness of each currency. So that Bitcoin is still widely used via the internet because it is also easier to use and use by the Bitcoin users themselves. Likewise with fiat which is still very easy to use in everyday life for every need in life, so the use of fiat in offline life is still very dominant than Bitcoin.

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I think fiat remains irreplaceable in becoming a global currency. so Bitcoin can not shift the position of fiat. but in fact that bitcoin has actually become a digital currency that is used globally on the internet. so I can say that bitcoin has become a global currency in internet users.

danadc

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With all the things that are happening in the world, that the dollar is going straight to an obvious crash, and Europe is accompanying it, it is very likely that Bitcoin can become a global currency, which is now being widely used, if we go to a country at least in one store you can buy things with Bitcoin, the countries in Europe have a lot of development in this, but El Salvador is the country that stands out the most.

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Quote from: Doan9269 on August 13, 2022, 05:09:16 PM

Quote from: harapan on August 12, 2022, 05:04:05 AM

In my opinion, bitcoin being accepted and used as a global currency is a fallacy.

Why will you say that, we are in the world of all things possible, think smart we are in a digital world and technological era of development.

Quote from: harapan on August 12, 2022, 05:04:05 AM

I don’t think it would ever happen cause for it to become a global currency, the fiat system of payment would have been phased out and that’s not happening any time soon

How i just wish the meterverse technology got implemented soon so as to clear all your doubts about possibilities, but at the moment, we are not saying it will eradicate fiat but it's already contending it, while fiat being used, many will orefer bitcoin than fiat which is the very possibility we are talking about

Crypto had made many things possible for us which there is no double but adopting Bitcoin as the global currency will surely be possible but it will take some times for it to happen. The way things are happening now need time for everything to be in a perfect place. There are many crypto projects coming to the market which is making Bitcoin more popular through that and I know that the crypto market is becoming bigger than what we thinks will be. Time works with possibility so let's watch how everything will play out.

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Quote from: harapan on August 12, 2022, 05:04:05 AM

In my opinion, bitcoin being accepted and used as a global currency is a fallacy.

Why will you say that, we are in the world of all things possible, think smart we are in a digital world and technological era of development.

Quote from: harapan on August 12, 2022, 05:04:05 AM

I don’t think it would ever happen cause for it to become a global currency, the fiat system of payment would have been phased out and that’s not happening any time soon

How i just wish the meterverse technology got implemented soon so as to clear all your doubts about possibilities, but at the moment, we are not saying it will eradicate fiat but it's already contending it, while fiat being used, many will orefer bitcoin than fiat which is the very possibility we are talking about

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Being a global currency is quite unlikely but betting on bitcoin is pretty much betting against the federal government and the financial system in the long run. Bitcoin is already causing the disruption of the actual financial system that have concentrated the power in hands of a few institutions and corporations for so long. This to me is the greatest revolution in the world and of course will have to fight many battles against the current system before becoming the new financial system free from manipulation of unfair interests.

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Quote from: Cryptmuster on August 13, 2022, 08:48:22 AM

Quote from: TravelMug on August 13, 2022, 07:29:20 AM

Crypto though will be a good option. Another means to pay and uses as digital money and many more. But it won't simply replace the dollar, even if people losses trust on fiat system, I don't see crypto taking over. Maybe what crypto can be in the future is that it could be view as a new world reserve currency, maybe just like gold or any other precious metal.

The fiat system is already under criticism, constant inflation it just constantly causes people to lose the value of their savings. But I still don't think that bitcoin can become a global currency, I assume that bitcoin will remain an investment vehicle, digital gold. It's just that in the future its volatility will decrease very significantly and it will be more stable. Some digital currencies will exist, but they will also be controlled by a central government.

I also don't believe bitcoin will become a global currency, because it will not be easy to replace FIAT currency which is controlled by all governments, I also agree that bitcoin will remain a crypto currency forever and forever bitcoin will still be an investment asset, because the purpose of the emergence of bitcoin is not to replace the FIAT currency, but the emergence of bitcoin to be able to make the economy better and grow the world economy.

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Quote from: TravelMug on August 13, 2022, 07:29:20 AM

Crypto though will be a good option. Another means to pay and uses as digital money and many more. But it won't simply replace the dollar, even if people losses trust on fiat system, I don't see crypto taking over. Maybe what crypto can be in the future is that it could be view as a new world reserve currency, maybe just like gold or any other precious metal.

The fiat system is already under criticism, constant inflation it just constantly causes people to lose the value of their savings. But I still don't think that bitcoin can become a global currency, I assume that bitcoin will remain an investment vehicle, digital gold. It's just that in the future its volatility will decrease very significantly and it will be more stable. Some digital currencies will exist, but they will also be controlled by a central government.

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Quote from: ?? on ??

Bitcoin will become a global currency when fiat currency is no more.

I'm not sure if fiat will just disappear or will have no value. It will remain dominant, the banking system will continue in the next centuries.

Quote from: ?? on ??

But since fiat currency is still valuable in any other country. So with what I'm seeing today i have notice that cryptocurrency and Bitcoin will not take over the responsibilities of Fiat currency, i believe agree that bitcoin has it channel of currency but as to control or dominate Fiat kind of currency. If bitcoin should take over fiat what can we be using to buy our needfuls and our demands

Crypto though will be a good option. Another means to pay and uses as digital money and many more. But it won't simply replace the dollar, even if people losses trust on fiat system, I don't see crypto taking over. Maybe what crypto can be in the future is that it could be view as a new world reserve currency, maybe just like gold or any other precious metal.

harapan

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In my opinion, bitcoin being accepted and used as a global currency is a fallacy. I don’t think it would ever happen cause for it to become a global currency, the fiat system of payment would have been phased out and that’s not happening any time soon. Most governments of various countries have openly criticized and denounced bitcoin so btc being a global currency isn’t really possible now or anytime soon.

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Quote from: Flamous on August 11, 2022, 07:39:20 AM

I don’t think it would be easy for bitcoin to become a global currency since not many governments seem to be interested in legalising it.

Although Bitcoin isn't legalized yet as a currency in every country in the world, people already use it as a digital currency for any transaction in many places in the world. Since Bitcoin is already used for any transaction around the world, I think Bitcoin is a global currency already. To be a global currency isn't a must to accept by each country in the world.

Quote from: Flamous on August 11, 2022, 07:39:20 AM

As no country would like to lose control of its financial system, I doubt if bitcoin will ever be made a legal tender.

Why doubt it?
El Salvador already legalized it as a legal tender. I heard that there will be more countries to consider Bitcoin as legal tender as well. The progress of Bitcoin to be a legal tender in most countries in the world look quite positive.

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Quote from: carlfebz2 on August 11, 2022, 06:30:24 PM

Quote from: Flamous on August 11, 2022, 07:39:20 AM

I don’t think it would be easy for bitcoin to become a global currency since not many governments seem to be interested in legalising it. As no country would like to lose control of its financial system, I doubt if bitcoin will ever be made a legal tender. Bitcoin might be doing really well but it has a long way to go.

It cant or never be possible even though it does have huge support from the community or becoming the trend but there are just even on technical aspects which it cant be possible.
For alternative yes but for general or whole scale then it cant really be going to global.Lets just accept that fact or fate of it.

It would really be just fit out on being alternative.One of the things on what it wont make it possible is about regulation plus having that decentralized then it would really throw off the
probability.Lets just leave this to fiat or into those typical ones.

Im not that too negative but lets just realistic into this one and dont hope that much that we would be reaching this point.

Besides, the said creation is not meant to disable Fiat money and stop people from using it but the design was to make Bitcoin as an alternative mode of payment Online. If we think this becomes a global currency, that still remains reasonable however, we can't urge people to use it all the time. The government had imposed some sort of crypto regulations and in some cases, it was banned and considered illegal which hinders people to use it.
10 years, 20 years, there might have a big change but I still believe that the majority are still using fiat money, not Bitcoin.

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Quote from: Flamous on August 11, 2022, 07:39:20 AM

I don’t think it would be easy for bitcoin to become a global currency since not many governments seem to be interested in legalising it. As no country would like to lose control of its financial system, I doubt if bitcoin will ever be made a legal tender. Bitcoin might be doing really well but it has a long way to go.

It cant or never be possible even though it does have huge support from the community or becoming the trend but there are just even on technical aspects which it cant be possible.
For alternative yes but for general or whole scale then it cant really be going to global.Lets just accept that fact or fate of it.

It would really be just fit out on being alternative.One of the things on what it wont make it possible is about regulation plus having that decentralized then it would really throw off the
probability.Lets just leave this to fiat or into those typical ones.

Im not that too negative but lets just realistic into this one and dont hope that much that we would be reaching this point.

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I don’t think it would be easy for bitcoin to become a global currency since not many governments seem to be interested in legalising it. As no country would like to lose control of its financial system, I doubt if bitcoin will ever be made a legal tender. Bitcoin might be doing really well but it has a long way to go.

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Quote from: Franctoshi on August 10, 2022, 06:43:10 AM

I do think so and not only gonna serve as global currency but also serve other purposes, However I believe that is where we're heading into right now and in my opinion, that is next main event remaining for Bitcoin where everything will no longer be be priced base on dollar but in Bitcoin. It just a matter of time since they're trying to do away about everything regarding the old monetary system and moving us into different economy which involves digital currency like Bitcoin and Ethereum, therefore in this new world order system I believe Bitcoin is gonna be that global reserve currency to use by everyone around the world.

I'd never see other purposes for its creation but just being considered as a currency. However, people had looked at the other side of Bitcoin, and taking this as an investment is somewhat unbelievable yet profitable in the end. Yes, it is a matter of time, that certainly comes someday, in fact, it was started already in some place like El Salvador - that is quite impressive and serves as an example that Bitcoin really has the potential to be considered as a currency and used globally.

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