Topic: Can BTC become the world central currency? - page 4. (Read 1214 times)
Do you mean that it will replace fiat? If so I think it will be hard for bitcoin to be world central currency. Fiat has been for so long, and it's been adapting too well, so it will be really hard to change our currency to a new one, especially technology based one since the technology is not well adapted yet, so i think it will be hard. Not impossible, but might took so long time to happen.
Anyways, Bitcoin has already been used and legalized in some countries. And I believe in the domino effect which I think that many countries will follow.
Legalization will not make Bitcoin a central currency, because as long as the USD is still strong, Bitcoin will be difficult to replace the existence of FIAT currencies.
Owning and using BTC for current transactions is quite a drain on transaction fees, it is not recommended if you use it for daily purposes. But it is possible to use it to buy expensive items that cannot be done using a credit card.
It might happen someday. But only if it is a completely different Bitcoin
What do you mean by different Bitcoin? Is there another Bitcoin that exists? Anyways, Bitcoin has already been used and legalized in some countries. And I believe in the domino effect which I think that many countries will follow. Of course, the adoption won't be so fast (that is what we expect), maybe we could see 10 years from now, almost all countries are legalizing Bitcoin. Who knows, right? But for now, we are still far from it, the development is slow, well, it is might because of some factors and the banning of crypto in some countries making people give a doubt.
Bitcoin can't be the world central currency but it can be an alternative to a fiat currency. Bitcoin is not yet fully accepted anywhere and there are also many things to consider as a currency but bitcoin is a useful digital currency and can be use in many ways not only as investment but also as payment method. But although bitcoin is useful, it's still impossible to be a world currency because we know that government of other countries are against about it because of being a decentralized currency.
It will be difficult to say yes completely that btc can become the world central currency, just as it is difficult to say a complete "no" as well, for reasons being that there are no certainties and the things which are probable are not many.
It is possible to say btc can become amongst the world's central currency over time, but it will not come easy because most governments in some countries do not easily subscribe for what they cannot completely control or influence. So if btc is to be used and adopted by major world countries, it might result in some change of some things that make cryptocurrency unique from the traditional centralised fiat.
It is possible to say btc can become amongst the world's central currency over time, but it will not come easy because most governments in some countries do not easily subscribe for what they cannot completely control or influence. So if btc is to be used and adopted by major world countries, it might result in some change of some things that make cryptocurrency unique from the traditional centralised fiat.
Governments all over the world never agree in creating peace and harmony, so we should not expect them in making bitcoin as a central currency. Most of world problems (like unjust distribution of wealth) will be solved if we have a central currency to whom everyone has equal access but thats a dream and will remain dream.
From 2009 till date, bitcoin suffered too many set back, ranging from disbelief to doubt about its future.
But 10 years down the tunnel is a great improvement and acceptance of the first cryptocurrency - bitcoin.
The huge acceptance lead to the creation of several altcoins.
Now many countries are willing to involve in the cryptocurrency world despite some restrictions in some countries because according to an African adage "No one knows the Goose that will lay the golden egg".
I am seeing in the future where BTC will become a unified currency for the whole world.
I think bitcoin is already serving a purpose that is close to that, there are lots of ways that bitcoin serves us for a greater purpose. By being a decentralized currency, it makes it a central currency that a lot of people can make use of; everyone around the world is free to make use of bitcoin, there is no restrictions since it is not controlled by anyone or organization, it is open to everyone that wants to make use of it, even if it is banned you can still access it in one or the other. But there are also other methods that are fulfilling the same purpose, and I don’t think any one of them is going to be the main currency that people will be using. But 10 years down the tunnel is a great improvement and acceptance of the first cryptocurrency - bitcoin.
The huge acceptance lead to the creation of several altcoins.
Now many countries are willing to involve in the cryptocurrency world despite some restrictions in some countries because according to an African adage "No one knows the Goose that will lay the golden egg".
I am seeing in the future where BTC will become a unified currency for the whole world.
Let's look at it critically, though it may not be used in place of fiat or for direct exchange except with merchants that accept it because even at the moment, some merchants do but then, it could be incorporated in lto the banking systems for fiat exchange. I'm just trying to see a possibility but still, that would be subject to a lot of national policy as well as price rate and taxing. Its one way the government can actually take the bitcoin that exists but then, this would be a promotion for black market exchanges to strive as well as promoting bitcoin, spreading its universality as well.
Although, it been accepted as a currency of the world, I seriously won't expect this to happen. The world has never been a unified place, there are lots of organisations out there that have or are attempting this especially the UN and have not been able to merge nations not to talk of bitcoin, a decentralized system being a unifying factor for centralization. I don't see how this would work.
Although, it been accepted as a currency of the world, I seriously won't expect this to happen. The world has never been a unified place, there are lots of organisations out there that have or are attempting this especially the UN and have not been able to merge nations not to talk of bitcoin, a decentralized system being a unifying factor for centralization. I don't see how this would work.
Even though Bitcoin can solve some issues in the system of our money, I don't think it's possible for now. People of interest can still benefit from it.
It's already an alternative for fiat for some of us. It has a long way to go; the vulnerabilities based on its volatility can be detrimental to its image, limiting new users to come.
It's already an alternative for fiat for some of us. It has a long way to go; the vulnerabilities based on its volatility can be detrimental to its image, limiting new users to come.
Not possible, imagine a main currency being easily manipulated by whales, an unstable currency cannot be considered as a main medium of exchange. Economy will easily crash if crypto will be used as a main currency. But, there is no doubt it can be one of the best alternative to cash.
I don't think so, in my opinion, if bitcoin is seen as a fiat currency and can be used by everyone, and can be traded with bitcoin, I think the price of bitcoin will go down, and bitcoin will no longer have a lot of interest, because we can no longer be an investment, and we can't use bitcoin itself, so leave bitcoin where it is, so we can make money in bitcoin..
Currency is a general equivalent, a yardstick used to measure value and a medium of exchange value. Value exchange forms a market. The market is part of the economy, and economy and politics are closely related. If a country uses Bitcoin to replace legal currency as currency, it is equivalent to tying the country’s economy with Bitcoin. Judging from the current market and monitoring, Bitcoin, a digital asset, is extremely susceptible to manipulation by capital, which is important for national politics and Economic stability is obviously not desirable.
There are many ways that the world can achieve peace and I don’t think that the currency we are all making use of has anything to do with whether we have peace or not. For us to achieve peace in this world, what we are all going to be needing is understanding and tolerance.
Having understanding among every ethnic groups, religion, race, etc. is the first thing that is going to help us on our quest of achieving peace all around the world. If you check right now, some of the problems we are having at this time is being caused by religion and race; if you check you will see some people from a different race who lacks understanding, hating on another race. And then you will also see people of a particular religion hating on other religious groups. So we very well need understanding and tolerance, before any other thing.
Having understanding among every ethnic groups, religion, race, etc. is the first thing that is going to help us on our quest of achieving peace all around the world. If you check right now, some of the problems we are having at this time is being caused by religion and race; if you check you will see some people from a different race who lacks understanding, hating on another race. And then you will also see people of a particular religion hating on other religious groups. So we very well need understanding and tolerance, before any other thing.
Yes, there are many other ways that the world will achieve peace but the issue of unified currency is not out of point. In your comment you were saying different races. Yes, these races are attached to their identity. Currency is a national identity. When a race is hated, its currency is hated too. Trade among this race becomes very difficult
Cannot be ascertained because there are still many concerns being considered, however there are still many people/governments who consider the risks due to the nature of bitcoin itself. If we look at it from the bright side, I think it would be and can coexist with ordinary currencies, like a tool for a more modern and useful economic life.
At present, bitcoin will not become the currency of the world's central bank. The market of bitcoin has not stabilized and fluctuates greatly. In order to stabilize the situation, the government will not let bitcoin become the currency of the world's central bank.
Most people in today's world do not understand or recognize bitcoin. This also restricts bitcoin to a certain extent. But I always believe that bitcoin can become the world's central bank currency in the near future.
Most people in today's world do not understand or recognize bitcoin. This also restricts bitcoin to a certain extent. But I always believe that bitcoin can become the world's central bank currency in the near future.
I guess that will never happen, even if bitcoin becomes the top he will not be the center of the whole world, there will still always be backups of fiat. I just agree bitcoin is a testament to the progress of a centralized fiat system, they have a decentralized system. and a technological advancement.
I actually think differently from youBitcoin really has a big opportunity to become the world central currency
maybe not in the near future but it's definitely heading there
Volatile prices should not actually be used as a reference, because that means we consider Bitcoin the same as fiat
I'm sure it will not do this ever. It's decentralization and volatility wouldn't let it to do so. And if BTC will lost it, the whole point of BTC will be lost too.
Per my opinion it is hard to become. Banks and economy and every economy big fish want to have control of money flow. I am wrong maybe, we will see.
I don't think you're wrong, because every pope always wants to signify the market, and that's happening to bitcoin now. Like when Elon Musk supported bitcoin, then he manipulated the market. That is one of the truths you say, I think this is the weakness of the decentralized system.
I guess that will never happen, even if bitcoin becomes the top he will not be the center of the whole world, there will still always be backups of fiat. I just agree bitcoin is a testament to the progress of a centralized fiat system, they have a decentralized system. and a technological advancement.
I think in the future bitcoin will become the central currency of the world. From the beginning of 2021 until now, the cryptocurrency market has witnessed many fluctuations, with the focus of attention being bitcoin. The bitcoin price continuously broke records, suddenly turned sharply lower and recovered in a short time. Bitcoin is making a big impact globally.
Maybe, I mean there is a huge chance but not it becomes the main currency, it will be just an alternative for fiat money. Whether we like it or not, Fiat money couldn't vanish and to find no reason why it has to be. But it takes years, several years before this will happen. We know the situation and still, a lot of countries are against crypto. Maybe it is needed for their support as well before Bitcoin finally becomes a legal currency globally.
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