Do you think Bitcoin will lead the world currency market??

Abiky

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Quote from: posi on March 22, 2023, 06:27:32 AM

This is also what I used to think, bitcoin will become an asset like gold and will be the choice in the budget reserves of countries. But even if that happens, it will never be able to replace fiat, the government will never let that happen. Given the speed of the world, it is certain that the fiat system will be upgraded, but it will still be a centralized and government-run system. There can't be a decentralized asset like bitcoin that can replace existing fiat.

Governments always want control/power over the mainstream economy, so they will reject Bitcoin in every way possible. Of course, that doesn't mean they won't add BTC to their balance sheet like they've been doing with Gold a long time ago. What it means is that governments won't let BTC replace Fiat for their own convenience. This shouldn't be a reason of concern, especially when BTC is decentralized. You can't replace centralization with decentralization or vice-versa.

I'm fine with Bitcoin just the way it is, as long as people achieve true financial freedom. In the future, BTC will live alongside existing Fiat currencies and even precious metals for generations. People will get to decide which currency/asset to use depending on their needs. Who knows if almost everyone in the world gets to "own" some Bitcoin in the future? Just my thoughts Grin

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Quote from: Abiky on March 21, 2023, 09:35:52 PM

Maybe someday world governments will add Bitcoin to their reserves just like they've been doing with Gold today?

This is also what I used to think, bitcoin will become an asset like gold and will be the choice in the budget reserves of countries. But even if that happens, it will never be able to replace fiat, the government will never let that happen. Given the speed of the world, it is certain that the fiat system will be upgraded, but it will still be a centralized and government-run system. There can't be a decentralized asset like bitcoin that can replace existing fiat.

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Quote from: peter0425 on March 21, 2023, 11:23:47 PM

I don't see the reason why there is a need for leadership in currency world when the service is what we need from those? I mean even whatever coins this is either currency in fiat or crypto , but as long as this brings help and usage in the people? it doesn't matter who will be i use.
bitcoin or dollar ? it doesn't matter as long as i can use to pay bills and bring me some good return in the future.

But at the moment you are not using bitcoin for payment, at the moment you are using the dollar to pay, right? So for you there is a difference than to pay for goods and services. And you most likely use bitcoin now as an investment, because you expect it to rise in price in the future and you will make a profit. Therefore, there is always a difference, especially since now we do not have the opportunity to pay in bitcoin wherever we need it, so we will need some time for adoption.

FahriZah

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Why Not? We Know Crypto Currency Is World Of Biggest Currencies And All Coin Of Mother That's Name Of Bitcoin. Without Bitcoin Crypto Currency Market Is Not Valuable BECAUSE First Need To Mother's And Than Thinking About Son's. And I Thinking Crypto Currency Bitcoin Next Generation Leading Market At Crypto Currency. Like Now Many People’s Are Using Bank Account,Paypal,Skrill,Neteller Etc. There Will Come A Time When Everyone Will Use Bitcoin.

coinremitter

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Defiantly, cryptocurrency is ruling the market. I find crypto is the safest currency because neither you loose it nor anyone will robe it! Also cryptocurrency payment getaways charges the lowest fees on transaction so people will save more. I find it so attractive and Bitcoin is the top cryptocurrency so it is very obvious that Bitcoin will lead the world currency market.

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Quote from: Crypto Library on March 15, 2023, 02:54:45 PM

Quote from: Clark Anderson on February 09, 2023, 06:38:27 AM

Do you think bitcoin will be the leader of the world’s currency market like US dollar in the future? Huh

Bitcoin is already lead the crypto industry but to taking the the place of Us dollar It is very difficult to say how much time it will take. But it is not impossible, in the future cryptocurrency will definitely be used as an alternative to the current currency, then Bitcoin will show its strength.

I think Bitcoin will replace US dollar in few years. As the demand of Bitcoin is increasing day by day and Bitcoin will be used as an alternative to current currency in few years. It will take about 5 to 7 years I guess. But if Bitcoin can take the place of US dollar, I can't estimate how many times the price of Bitcoin will increase. I am looking forward to when I can pay all my daily expenses with Bitcoin.

peter0425

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Quote from: Clark Anderson on February 09, 2023, 06:38:27 AM

US dollar is the world accepted currency and can be used as a medium of exchange. In the crypto world, Bitcoin is the most popular and the highest accepted currency with greater value. Different countries have permitted bitcoin for transaction and many of them are thinking so and will eventually do so. Its acceptance is gradually increasing day by day. Do you think bitcoin will be the leader of the world’s currency market like US dollar in the future? Huh

I don't see the reason why there is a need for leadership in currency world when the service is what we need from those? I mean even whatever coins this is either currency in fiat or crypto , but as long as this brings help and usage in the people? it doesn't matter who will be i use.
bitcoin or dollar ? it doesn't matter as long as i can use to pay bills and bring me some good return in the future.

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Quote from: Clark Anderson on February 09, 2023, 06:38:27 AM

US dollar is the world accepted currency and can be used as a medium of exchange. In the crypto world, Bitcoin is the most popular and the highest accepted currency with greater value. Different countries have permitted bitcoin for transaction and many of them are thinking so and will eventually do so. Its acceptance is gradually increasing day by day. Do you think bitcoin will be the leader of the world’s currency market like US dollar in the future? Huh

bitcoin is now in the middle of the road to get closer to the peak of its success.
the name bitcoin is now worldwide, many of the richest people in the world are investing in bitcoin, and there are already countries that make bitcoin a currency, for example, like el Salvador.

if you look there now bitcoin continues to increase in terms of investors and in terms of support.
maybe in the next 10 or 15 years bitcoin can be even more advanced than now.

Abiky

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Quote from: Pierre 2 on March 21, 2023, 03:39:05 AM

I think Bitcoin's market cap will always stay very high as it's very cool method of wealth transfer, its also currency which has no limits, no national control etc. This is why I think people will never stop demanding Bitcoin. If option was given and Bitcoin was regulated I would rather use Bitcoin instead of USD because i don't wanna pay huge amounts of money to banks that sell USD to me in very high rates compared to real markets. Bitcoin can become one world's top 3 currencies with USD and Euro in my opinion.

Bitcoin will be the leading cryptocurrency of the decentralized Blockchain world, but it will never replace Fiat because of the way it was designed. This shouldn't be a reason of concern, as long as Bitcoin does the job it's supposed to do (which is to bring financial freedom to the world). It's been going strong for nearly 14 years now, so I'm certain it will last a lifetime.

Maybe someday world governments will add Bitcoin to their reserves just like they've been doing with Gold today? If that happens, BTC will "explode" in market prices. As long as you don't invest more than what you can't afford to lose, there should be nothing to worry about. Just my thoughts Grin

Bollexz1

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The cryptography technology makes Bitcoin transactions tamper-proof. The built that nobody can reverse or alter the details of a Bitcoin transaction upon its validation and addition to the blockchain. Such traits make more individuals and institutions trust and love Bitcoin. So basically for me, with its growing adoption, it might likely lead but that however would take years. Matter of fact, it might not happen even in this generation.

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Quote from: freedomgo on March 21, 2023, 11:07:34 AM

Quote

Do you think bitcoin will be the leader of the world’s currency market like US dollar in the future? Huh

I think not. I mean I have no doubts about bitcoin that it could dominate the whole market someday because that is totally possible given the factors that we're experiencing in the previous years and since bitcoin is created, it became a new hope to the people to hedge themselves from the over-increasing inflation that has been destroying lives year by year. But regarding to your question OP, bitcoin isn't created to become a leader of the world's currency nor replace any existing fiats especially like dollar.

There is nothing like leader in the market because market exploration is any project's ultimate goal. Since bitcoin entered the market early and has a high trading volume, it is the only cryptocurrency that now dominates the market. It comes in first place on the list, followed by Ethereum. Bitcoin is a leading effort in the field and its existence does not stand for others; rather, it is intended for everyday transactions. Fiat money differs from cryptocurrency because it is supported by governments as a generally recognized form of payment.

freedomgo

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Quote

Do you think bitcoin will be the leader of the world’s currency market like US dollar in the future? Huh

I think not. I mean I have no doubts about bitcoin that it could dominate the whole market someday because that is totally possible given the factors that we're experiencing in the previous years and since bitcoin is created, it became a new hope to the people to hedge themselves from the over-increasing inflation that has been destroying lives year by year. But regarding to your question OP, bitcoin isn't created to become a leader of the world's currency nor replace any existing fiats especially like dollar.

suzanne5223

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Quote from: Abiky on March 19, 2023, 12:03:44 PM

Quote from: suzanne5223 on March 16, 2023, 12:16:08 PM

I agree with the statement you made. I believe the reason why we're seeing people bring up this type of discussion is that they never understand the government's concept ruling that decentralized currency will never be allowed to lead or be among the world currency market no matter the potential and the benefit it posed.
This is the exact reason why the government makes sure the movement and the creation of Libra introduced by Facebook were shut down years ago. I am sure if Satoshi Nakamoto didn't my himself invisible the government will have tried every possible means to him do something about Bitcoin based on how they tried to make it obsolete.
Having said that, some Bitcoiner are drifting away from the reason why Satoshi created Bitcoin maybe it is because of their optimism or high enthusiasm for Bitcoin because BTC was created as an alternative, not the main or leading world currency.

Libra wasn't going to be decentralized at all, especially with Facebook behind it. The new digital cash system was meant to work closely with banks to help provide "banking to the unbanked". It was easy enough to shut down the project due to its centralized nature.

Yes, Libra is not going to be decentralized. Thank you for pointing that out. I just forgot to analyze what I mean when I was talking about the government's stance on cryptocurrency.

Quote from: Abiky on March 19, 2023, 12:03:44 PM

But I can't say the same about decentralized cryptocurrencies such as Bitcoin and Ethereum.

I don't know about Ethereum but for Bitcoin, if the government have the power to shut it down I think they would have done that. meanwhile, they can still manipulate the mining of Bitcoin.

Quote from: Abiky on March 19, 2023, 12:03:44 PM

While a decentralized cryptocurrency will never be accepted by mainstream governments as the leading world currency, it will certainly reduce Fiat's dominance by a large margin.

There will be more pressure against decentralized cryptocurrencies as they go against what was establish in the first place. I'm fine with Bitcoin just the way it is, as long as it remains decentralized and censorship-resistant. Who knows if Bitcoin lives for centuries? Just my opinion

Based on my understanding. I don't see the reduction of the fiat currency dominance is the reason why the government won't accept decentralized crypto as mainstream. They just don't like the currency not solely controlled by them

CryptSafe

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Quote from: Clark Anderson on February 09, 2023, 06:38:27 AM

US dollar is the world accepted currency and can be used as a medium of exchange. In the crypto world, Bitcoin is the most popular and the highest accepted currency with greater value. Different countries have permitted bitcoin for transaction and many of them are thinking so and will eventually do so. Its acceptance is gradually increasing day by day. Do you think bitcoin will be the leader of the world’s currency market like US dollar in the future? Huh

I have not doubt about that OP. Bitcoin definitely will outperform the United States Dollar in the nearest future and as a store of value the demand for bitcoin would increase thereby making it the digital gold it is called and referred to. With respect to adoption, currently not many nation's have adopted bitcoin as a legal tender in their various locality but I strongly believe they are aware of the bitcoin movement and ate likely doing examination on it while some are just afraid of implementing it so as not to expose their corrupt act and system for which they have been doing. It's is pertinent to note that bitcoin is for transparency and accountability so therefore, any body coming for bitcoin must come with clean hands and this is just the reason why most nation's are yet to adopt bitcoin so as their corrupt practices would not be exposed.

crypticj

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No. I think bitcoin will just become a part of the system and the economy will react to it as a whole. But I don't think it will "lead" the market. But the fact that it will be a huge and important thing for the markets and economy is great too.

But I think we still have a long way to go before that. It's hard to predict how fast adoption will go up but it's clear that we need to wait until bitcoin will come back to at least 50k.

Pierre 2

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I think Bitcoin's market cap will always stay very high as it's very cool method of wealth transfer, its also currency which has no limits, no national control etc. This is why I think people will never stop demanding Bitcoin. If option was given and Bitcoin was regulated I would rather use Bitcoin instead of USD because i don't wanna pay huge amounts of money to banks that sell USD to me in very high rates compared to real markets. Bitcoin can become one world's top 3 currencies with USD and Euro in my opinion.

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Quote from: Abiky on March 19, 2023, 12:03:44 PM

Libra wasn't going to be decentralized at all, especially with Facebook behind it. The new digital cash system was meant to work closely with banks to help provide "banking to the unbanked". It was easy enough to shut down the project due to its centralized nature. But I can't say the same about decentralized cryptocurrencies such as Bitcoin and Ethereum. While a decentralized cryptocurrency will never be accepted by mainstream governments as the leading world currency, it will certainly reduce Fiat's dominance by a large margin.

There will be more pressure against decentralized cryptocurrencies as they go against what was establish in the first place. I'm fine with Bitcoin just the way it is, as long as it remains decentralized and censorship-resistant. Who knows if Bitcoin lives for centuries? Just my opinion

Thats right, Libra was a scam no other than basically all alt coins. Facebook wanted to trick uninformed people to buy the coins to weaken the crypto market and also to look innovative to get investors to buy more stocks. I am very glad that it failed but at the same time libra was so bad, that the failing also did not surprise me at all Cheesy

pgbit

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Quote from: Clark Anderson on February 09, 2023, 06:38:27 AM

US dollar is the world accepted currency and can be used as a medium of exchange. In the crypto world, Bitcoin is the most popular and the highest accepted currency with greater value. Different countries have permitted bitcoin for transaction and many of them are thinking so and will eventually do so. Its acceptance is gradually increasing day by day. Do you think bitcoin will be the leader of the world’s currency market like US dollar in the future? Huh

It's hard to say with any certainty what the future holds for Bitcoin and its acceptance as a global currency. While the digital currency has come a long way since its creation a decade ago, it still faces a lot of obstacles and questions around regulation, security, and adoption. At this point, it is difficult to say whether Bitcoin will be the leader of the world's currency market, but it certainly has the potential to become a major player in the global economy.

gocryptoz

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It is tough to expect the destiny of Bitcoin or another cryptocurrency with certainty. While Bitcoin and different cryptocurrencies have received good sized interest and recognition in latest years, they're nevertheless now no longer as broadly widespread as conventional fiat currencies.

One of the principle demanding situations going through Bitcoin and different cryptocurrencies is their volatility. The cost of those currencies can differ extensively over brief intervals of time, which makes them much less appropriate to be used in regular transactions wherein human beings commonly need to understand the precise cost of the products or offerings they're purchasing.

In addition, there are nevertheless a few technical and regulatory problems that want to be addressed earlier than cryptocurrencies may be broadly used as a substitute for fiat currencies. For example, the infrastructure for accepting and the use of cryptocurrencies as a shape of price isn't always but as evolved as it's far for conventional fiat currencies.

Abiky

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Quote from: suzanne5223 on March 16, 2023, 12:16:08 PM

I agree with the statement you made. I believe the reason why we're seeing people bring up this type of discussion is that they never understand the government's concept ruling that decentralized currency will never be allowed to lead or be among the world currency market no matter the potential and the benefit it posed.
This is the exact reason why the government makes sure the movement and the creation of Libra introduced by Facebook were shut down years ago. I am sure if Satoshi Nakamoto didn't my himself invisible the government will have tried every possible means to him do something about Bitcoin based on how they tried to make it obsolete.
Having said that, some Bitcoiner are drifting away from the reason why Satoshi created Bitcoin maybe it is because of their optimism or high enthusiasm for Bitcoin because BTC was created as an alternative, not the main or leading world currency.

Libra wasn't going to be decentralized at all, especially with Facebook behind it. The new digital cash system was meant to work closely with banks to help provide "banking to the unbanked". It was easy enough to shut down the project due to its centralized nature. But I can't say the same about decentralized cryptocurrencies such as Bitcoin and Ethereum. While a decentralized cryptocurrency will never be accepted by mainstream governments as the leading world currency, it will certainly reduce Fiat's dominance by a large margin.

There will be more pressure against decentralized cryptocurrencies as they go against what was establish in the first place. I'm fine with Bitcoin just the way it is, as long as it remains decentralized and censorship-resistant. Who knows if Bitcoin lives for centuries? Just my opinion

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