Topic: Can BTC become the world central currency? - page 2. (Read 1169 times)

I don't think it's possible if bitcoin becomes a world central currency. We know for ourselves that Bitcoin is unstable because the price is always up and down and hard to predict. Even smart people can't predict market developments with certainty. So I don't think Bitcoin can be a world central currency. What is more appropriate now is to make Bitcoin an investment tool because it can be profitable. There are also many Bitcoin projects that are fairly good, so instead of thinking about the impossible, we better move to take advantage of opportunities that can lead us to profit.

I don't think bitcoin can be the central currency of the world. we know that bitcoin price movements are difficult to predict. Bitcoin is unstable and will continue to move up and down so this makes it less likely for it to become a central currency. Bitcoin is more suitable to be used as an investment, in fact the opportunity to soar is greater as it is today. Most people already know about bitcoin. The number 1 coin in cryptocurrency whose price is the most fantastic among others. Many are hunted but bitcoin has a threshold.

  My answer is a Big NO  and it can't be a central currency. More people experience difficulties specially at Young age they can not verify because of their age and also they don't have a primary ID to get verified in the system,and it's a big risk for us specially Cryptocurrencies is an Volatile.

I don't think bitcoin can be the central currency of the world, where bitcoin is still being rejected in every destabilized country, there is no admin or controller it is a big risk factor for the government because they need a place where they have to discuss and fix problems that occur, and another factor, namely the price of bitcoin which is not certain and enough, even in 1 bitcoin it takes 57k $ even though it can be obtained in the form of cents there are still those who can't have it

It's more unlikely to ever happen to be honest because it's limited in supply and it's too expensive to be used solely for currency to spend on transactions. Maybe you're right that we will find a way towards it that it's possible to use it like a currency even with a limited supply.

it seems that it is not easy to replace the existing fiat currency and has become a legal exchange and is recognized throughout the world, even if you want to force it, it may only be able to support it.

after all, fiat money will always remain the money that is used as a legal medium of exchange, because fiat currency has been used for a long time and it is not easy to replace it even though there are changes due to the advanced technological situation. to remember that every country has created digital currency and there are still limitations compared to fiat money. so crypto will be used only to make up for the shortfall of fiat transactions.

Although Bitcoin is gradually being accepted by more and more countries, it has certain advantages over fiat currencies. But it is still impossible for Bitcoin to become a global currency.

• Bitcoin is more expensive for daily small consumption payments.
• Bitcoin's volatile price makes it incapable of playing the role of a global currency. Large fluctuations in purchasing power are something that bitcoin can bear, but it is not something that ordinary people can bear.
• Bitcoin is not yet fully popularized. More people's perception of Bitcoin is still a scam, without realizing the benefits it brings, and not having a correct understanding of Bitcoin.

The current system, which uses fiat currency is not a very sustainable one. The governments are taking loans like there is no tomorrow and the det-to-GDP ratio is already higher than 100% for most of the countries. At some point, it is going to implode. We already saw this happening in certain countries such as Greece and Cyprus. A higher debt ratio means that the national currencies will rapidly lose their purchasing power and those who have savings denominated in the fiat ends up on the losing side. Bitcoin can emerge as a hedge in such situations.

Bitcoin is not a currency to be traded like in general, paper money, digital Bitcoin that can be exchanged for paper currency, In digital form and paper money, there are far differences, very far both from the physical, the manufacture and also who controls it.

You need to know, the world bank will never make Bitcoin a unified currency as you say, the world bank will never consider Bitcoin as a legal currency, more inclined to digital online or as a medium of exchange.

There are several reasons Banks cannot make Bitcoin a unified currency.
1. The creator of Bitcoin is unclear, although what people know is that Bitcoin was created by satoshi.
2. Bitcoin is not in physical form, like paper money, only based on online transactions and prices are not as stable as currencies in general.
For example: today the price is $30k two hours later it could be $25k or vice versa, this kind of nature can disrupt the world, the biggest risk and negative effect for the world.

Another example: you are a car dealer, selling and buying, today you buy a car in a warehouse at a price of 1 Bitcoin/unit at a price of $ 30k, today your car has not been sold, tomorrow someone wants to buy the car in Btc, because they know the price of the car and the Bitcoin price for that day is $20k, the loser in this case is the trader/buyer profit, if measured by Bitcoin, something like this if it happened the world could go berserk.

For this reason because Bitcoin is not as stable as paper currency in general, it is certain and guaranteed that it cannot be made as an integrated currency by every bank, let alone a central / world bank.

it is still difficult to make bitcoin a global currency but it does not rule out the possibility that bitcoin can be an alternative currency that can be used to transact digitally and is recognized globally
Currently, an international currency or alternative currency is needed for online store transactions between countries

I think BTC will stay as digital gold. We're not using gold as currency. And also BTC is decentralized. How can it be central currency? I don't think we'll have one. But it's great that crypto can be easily sent from any point of the globe.

it's not that easy to change bitcoin into currency,, because the human resource factor of each country is different, and also people's understanding of bitcoin is not yet fully understood by people, there are still difficulties in using or transacting with bitcoin..

It is impossible for now. And if it becomes a world currency, the governments of every country will stop it. There are also countries that ban Bitcoin or Bitcoin mining.
However, if the volatility of Bitcoin is gradually reduced in the future, it may be allowed to be used worldwide. Because it is more convenient to use globally.

No it can't. In my opinion btc can never handle the wolrd economy to change every countries fiat currency, yes btc are now legal to other country to use as mode of payment but we all know that other countries not accepting it because of its volatility. Btc is not the only crypto currency that can we use to replace the fiat money but some other country can make their own crypto to be able become cashless society as trend of changes in the economy if the world economy will implement the use of crypto currency to replace the fiat money of every country.

Its hard to think that it will happen while the fact is even even dollar didn't succeed to be the 1 world currency even if how rich this country is and how strong tge law they have so maybe the idea of bitcoin to go thru that far is so impossible maybe for now we should enjoy the benefits of having bircoing on our pockets.

The government is really trying to isolate bitcoin from most users due to the ideology it brings but this separation seems to be tightening ties and pushing up high confidence in bitcoin and its ability to free people from government influence, the metric of popularity is also drawing a scenario where bitcoin will soon be used by most people. However, the upper class and the management are the guidelines of the social world, the lower classes can come together but without the consent of the leaders, bitcoin is still just a system normal

I don’t think Bitcoin will be able to establish itself as the world’s central currency. There are many reasons behind this. Because Bitcoin is a decentralized cryptocurrency, it cannot be controlled by the government and certain individuals. Moreover, due to the decentralized nature of Bitcoin, it is highly unstable and therefore cannot be considered as the central currency of the world. Moreover, since the origin and use of Bitcoin are not dependent on the economic development of a country, it is difficult to determine the economic growth and potential of a country by it. So it can be said that Bitcoin is very unlikely to be considered as the central currency of the world.

I'm not really sure about that. If that would be a central currency I'm sure that many people will use it and use it in illegal ways like private transaction or anonymous transaction and money laundering I don't think all the governments would not agree to let this happen, I'm not really sure about the consequences but I'm sure that it's impossible to happen right now.

Can the world come together? No! Because people's opinions differ, you cannot expect them to act your way. Bitcoin can never become the world central currency cause they'll always be criticisms from people. And if it even became the world central currency, then there's a need to be afraid. But this can't be. Not with the decentralization that Bitcoin offers. Governments are seeking to even rip it off from those who are already using it.

Bitcoin being the world Central currency isn't gonna happen for now. Maybe in the future it has high chance, because of more corporate networks involvement into the usage of cryptocurrencies and development of their own cryptocurrencies tied to the Bitcoin network. As an user mentioned, there are people who aren't aware of digital fiat and there are regions where there is no internet access. Bitcoin needs internet connectivity for accessing. Likewise several hurdles need to be overcome to reach the mainstream adoption through which it can move towards the next level. This gradual move could make it the central currency after fifty years.