Topic: Can BTC become the world central currency? (Read 1214 times)

According to my opinion, Bitcoin cannot replace the physical currency as the governments of countries will not allow to use it as digital currency. Also, it is a decentralized currency. If the bitcoin is used as a world currency , then it will also affect the people's income.

It's not possible because Bitcoin not a centralize currency and any government never except it as a currency. Anybody can not pay any taxes through Bitcoin and its trading ............

In fact, the government of any country will not allow Bitcoin to be the central currency.Because this bitcoin is a completely temporary currency system. The price of this bitcoin is changing all the time. So never let this bitcoin become the central currency of the world.

Bans from countries like China, Turkey, Russia, Egypt, Vietnam and etc., it would be really hard to have a one world currency. Ideology and perspective by each country differs so uniting them would be really hard but I think in the future it will. When World War III happens and a new world order happen where a central government governs the world according to scriptures.

a country will not give up their currency but Bitcoin can be used alongside with the digital currencies that they're now developing. it's not gonna affect the income of the people whether they are paid in BTC or digital fiat, is the same thing. it will only affect if they are not going to spend it cause they may see BTC as an investment like we do today.

You are saying right. But now bitcoin becomes the global currency. The reason is that bitcoin is used from anywhere in the world. And there is no government that is involved in bitcoin price movements. And its supply is limited. No one can increase their supply as we compare it with our local currencies. But it is the best currency for investing money.

Dont know about temporary currency system but would rather be an alternative decentralized payment system which is totally opposing centralization and with that alone, you could already tell that government wouldnt

really let this thing to happen that something decentralized would become mainstream or main currency and thinking off realistically on where bitcoin doesnt really fit out on some aspect which fiat could simply do.

Just let it be and it would be better on not minding about this stuff and mind off that we do have at least some options.

Am very sure bitcoin will never be allowed and a general currency due to so many reasons and even if other countries accept it I believe China and united state will never accept and if those two countries don't accept it I don't really think that will be possible most expecially if united state don't really accept it as a general currency in there country then it can't be possible. Bitcoin is number one degital currency, bitcoin have been very popular and lot's of people have been adopting bitcoin but it won't still be accepted all over the world but it can easily be used as payment method in some places and some companies are beginning to pay their worker's with bitcoin which is very nice.

The way Bitcoin is growing in popularity, it is safe to say that Bitcoin will become a central currency for the foreseeable future.Many countries are approving bitcoin anew, many countries are again on bitcoin Urging the imposition of taxes. So wait for you to become the center of Bitcoin.

I read the news that several countries have legalized bitcoin and now that country has made many changes for the better. Is this proof that if bitcoin becomes the world's central currency, the world will be better off, but I think if bitcoin is made into a currency? the center of the world maybe in a matter of hours there are people who will be suddenly poor or vice versa suddenly rich by holding bitcoin because basically the price of bitcoin is unstable and can change at any time.

Yes no dout Btc more famous crypto and have a bright future but may b not because it's crypto and in crypto everything is possible  so becarefull.

No one can say that for sure. So I prefer we say "an inventor known as Satoshi Nakamoto."




Wonder what you mean by "Unified Currency for the whole World",   you mean like a One global currency without fiats , One Global currency without altcoins, or a Global currency with fiats & altcoins. I don't see why it shouldn't latter.... Should be that just incase your country requires you to have a mark of loyalty in order to buy and sell, then you can always flee to the available well decentralized currencies/currency.

I don't think bitcoin will ever be the world's central currency.

Foremost, bitcoin is decentralized. If it will be nominated to become a global currency, it will lose its true nature. It can't be centralized and shouldn't be. Hence it's really impossible to happen. Second, the government is against everything they cannot control. Since bitcoin is decentralized, they wouldn't want it to take over because they can't regulate it much compared with fiat. Third, bitcoin is volatile. If they will make it as a global currency, they will risk so much of their resources. They don't want that. Fourth, bitcoin is scarce. It has a very limited supply. The government cannot just produce and print it like what they usually do with fiat. Lastly, bitcoin isn't recognized as currency by the government. So why would they even thought of making it a global currency? They don't acknowledge the cryptocurrencies purchasing power because it isn't legalized to most countries yet because of the aforementioned reasons.

Aside from all of this, the a lot of features must have to improve first before diving into mass adoption and into world domination (btc being global currency/reserve asset). Transaction fees are still very high while processing time takes so long to be confirmed. Hopefully these things will be enhanced for the betterment of the community and users' experience.

True, world finance is very complicated, decentralization is like a roller coaster, there will be speculators who play the price of bitcoin so as to make the price of commodity goods and services unclear, this will create new problems so I think bitcoin and crypto is not the solution to become the world central currency.

A thousand no's to this one. Why would you want a decentralized cryptocurrency to be a world central currency? It can a major currency along with the other most frequently used and powerful currencies but as THE currency. For one, The volatility of Bitcoin alone will make a person hesitate to use it as a mode of payment, especially those that of the small consumption or small payments like the ones with a cheap or small price.

It is a long way to go, honestly. We are still at the very beginning trying to attract more support from the community and from the government as well but was very unfortunate which we can see that some countries are declining such huge development in the world of currency. I'm not getting hopeless at this time and besides, the adoption keeps growing even we can feel it was very slow, at least, we can say that there will be a perfect time for this. Though it can't be a world currency at least we could consider it as a legal currency worldwide, not only in a specific area or country.

Bitcoin is indeed more suitable to be used as an investment tool than central currency, in my opinion.
The reason is as you said, the high fluctuating price of Bitcoin is very unlikely to be used for central currency, but if it is used as an investment tool then it makes more sense and is more profitable.

We don't know that for sure, maybe they will see the merit of using bitcoin as a reserve currency, maybe they see that it can help them increase their control, influence or wealth. We don't know how the real owners think so it's going to be hard for us to actually know what's going behind those corrupt and greedy minds.

I think no, the ruling strata need controlled finances.

Every strong system come to an end one day because of its flaws. The inflation is now ever increasing in this fiat system that it will very soon collapse and bitcoin will be ready to replace the world currency.