Do you think Bitcoin will lead the world currency market?? - page 2.

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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 already a currency and it is the leading cryptocurrency in the market now with huge liquidity and momentum. If some countries decided not to accept Bitcoin as a legal currency that will not be a problem because there are some countries that are already planning to make Bitcoin a legal tender. Things are changing gradually and with time the US dollar may not be the world or universal currency that will be used to make trades and transactions so we don't know the next currency that will dominate the market but with time people are going to see the need to accepting Bitcoin for transactions and payments.

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Quote from: Abiky on March 16, 2023, 05:35:37 AM

I know Bitcoin is getting adopted by many countries worldwide, but let's not get ahead of ourselves. Fiat is and will always be "king", because it's backed by the government. Which means the USD won't be going anywhere as the world's reserve currency anytime soon. Even if it did lose its status as the "reserve currency of the world", it certainly won't be replaced by a decentralized cryptocurrency that's outside the reach of both central banks and governments worldwide.

I'm fine with BTC just the way it is, as long as it proves to be a strong alternative to existing Fiat currencies. What's important is that people can get true financial freedom no matter where they are in the world. Bitcoin is already doing its job pretty well, so there's that. If it stays decentralized, it will be able to last a lifetime. Maybe it will co-exist with Fiat decades into the future? Just my opinion

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.

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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 know Bitcoin is getting adopted by many countries worldwide, but let's not get ahead of ourselves. Fiat is and will always be "king", because it's backed by the government. Which means the USD won't be going anywhere as the world's reserve currency anytime soon. Even if it did lose its status as the "reserve currency of the world", it certainly won't be replaced by a decentralized cryptocurrency that's outside the reach of both central banks and governments worldwide.

I'm fine with BTC just the way it is, as long as it proves to be a strong alternative to existing Fiat currencies. What's important is that people can get true financial freedom no matter where they are in the world. Bitcoin is already doing its job pretty well, so there's that. If it stays decentralized, it will be able to last a lifetime. Maybe it will co-exist with Fiat decades into the future? Just my opinion

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Quote from: Oceat on March 15, 2023, 05:24:17 PM

There's a big difference of talking about fiat and crypto they aren't the same and each one of them has its role. Why not accept the fact that Bitcoin can coexist with the existing fiats and I don't think Bitcoin will be ever designated as a world currency because no matter what we think there's always a government that would hinder this to work. They are all pro-bankers or shall I say it's the banks telling them to do it or else there are consequences. Who knows? But I don't believe in Bitcoin as the next world currency, it has a lot of red flags if you think about it. Well both actually have their own pros and cons.

Bitcoin is innovated to fulfill things that the traditional fiat system failed to accomplish. This eventually could coexist with the traditional system and function in an effective manner. Governments have the highest role and very few governments will be in favour of bitcoin whereas the majority doesn't want it for various reasons. For now bitcoin could serve as an alternate to the traditional fiat system. To take the place of fiat isn't possible at the shortest. Maybe in the long run if people all around the world starts using bitcoin, things may change. Even at such situation bitcoin to lead the world currency isn't possible.

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There's a big difference of talking about fiat and crypto they aren't the same and each one of them has its role. Why not accept the fact that Bitcoin can coexist with the existing fiats and I don't think Bitcoin will be ever designated as a world currency because no matter what we think there's always a government that would hinder this to work. They are all pro-bankers or shall I say it's the banks telling them to do it or else there are consequences. Who knows? But I don't believe in Bitcoin as the next world currency, it has a lot of red flags if you think about it. Well both actually have their own pros and cons.

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Quote from: BenCodie on March 15, 2023, 03:03:51 PM

It's a recipe for a global world currency lead. Bitcoin is accessible and can be utilized by anyone on an unlimited basis. Bitcoin's economics are far more superior to any other option out there. Bitcoin can also now be considered to be quite mature. After a wave of bank collapses that highlight flaws in the monetary system and validate the original Bitcoin use case (being to escape the banking system) it's almost safe to assume that Bitcoin will reign supreme. It's only a matter of time.

Until the right time comes, the wait continues. The growth of bitcoin have been happening around, but this to be the superior of monetary system takes time. US dollar for now leads the world currency market for some reason and slowly the currency is losing its power. Surely bitcoin have got the ability to be an alternate, but how far this is possible depends completely on the governments. For now governments won't easily accept bitcoin being the supreme currency as it can't be controlled by them. As said bank collapses will show the monetary system flaws and people will consider bitcoin. More the people's involvement automatically things change with time.

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Quote from: Ozero on March 15, 2023, 10:04:54 AM

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 is necessary to accept the fact that states will not use bitcoin and other decentralized cryptocurrencies as a means of payment at the international level. There are many reasons for this, and above all, because of its high price volatility.
But citizens of different countries can and do use bitcoin as a global currency. The states can no longer interfere with this.

I would guess that states do not have to, but we also have to realize which nations? I mean central Africa made it a legal tender if I am not wrong, so did El Salvador, so if those two governments ever paid each other for something then they could use bitcoin for the transaction. Obviously it would be very tough for those two nations to have anything in common enough to make a transaction, what are they going to buy from each other, but at the end of the day it's a possibility.

Right now, not many nations made it a legal tender, but if that type of movement grows then we could see nations do send each other bitcoin for payments and that would be a lovely thing.

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The biggest misunderstanding around cryptos is that if they aren’t doing a great job of replacing USD, then crypto is failing in its mission.
Most of crypto is about replacing the centralized banking system with networks that allow user control versus bank control. Major cryptos, such as BTC and ETH, should be viewed more like internet stocks than currency.
It’s more like you bet on Google if you think there’s going to be high internet traffic; if you short it, it’s that people are going to go back to the post office. But it’s not that BTC or ETH or anything else is trying to replace USD, it’s trying to replace the system of transmitting value.

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It's a recipe for a global world currency lead. Bitcoin is accessible and can be utilized by anyone on an unlimited basis. Bitcoin's economics are far more superior to any other option out there. Bitcoin can also now be considered to be quite mature. After a wave of bank collapses that highlight flaws in the monetary system and validate the original Bitcoin use case (being to escape the banking system) it's almost safe to assume that Bitcoin will reign supreme. It's only a matter of time.

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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.

Quote from: Rigon on February 14, 2023, 05:25:48 PM

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Bitcoin is officially legalized in some countries. But when Bitcoin is officially legalized all over the world, Bitcoin can lead the global market. But the popularity of Bitcoin is increasing day by day. There may come a time when people around the world will choose Bitcoin as their top currency for transaction and investing. Bitcoin may be expected to lead the world then. But it may not happen in our era. Maybe in our next generation or the one after that. But I hope one day Bitcoin will lead the world market.

Not only just officially legalization in few countries Bitcoin take as their official legal tender And 5 more countries are expected to join the line. And I think until it becomes legal tender in most countries of the world, it will not be able to compete with the US dollar and it can really get our Next Generations.

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Looking at the current worldwide situation, it must be understood that the circulation of fiat currency or paper currency will disappear in the future. And there will come a time when people will do all their transactions through cryptocurrency. And in this case Bitcoin will definitely be the first and lead. So in my personal opinion Bitcoin has the potential to lead Cryptocurrency instead of fiat currency in future.

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Quote from: BlackHatCoiner on February 11, 2023, 07:01:18 AM

I do. The USD is nothing more than an empty promise from a debt to the bone nation. At least in the long term. Dominating fiat currencies come and go, analogously with the top nation, in terms of world order. Before the US there was Britain, before that France. Maybe the next is China, who knows, but the US doesn't seem a sustainable nation to me.

Bitcoin is fuck you money. Fuck bureaucracy. Fuck debt. Fuck bailouts. I think people will appreciate this as time goes by.

A lot of people already do appreciate it, but there is still the threat that government will significantly undermine its utility, at least in the short and mid term. I guess we will see an interesting push for further adoption when the cryptocurrency industry gains in financial power and political influence. Banks have an incredibly strong lobby and governments and banks protect each other, finance each other for as long as the story can be sold to the public (or the majority of the public). I expect there will be a point where more and more politicians realize that there is more to be gained as a crypto proponent than there is as a fiat banking proponent.

The only way I see a cryptocurrency like Bitcoin ever become the leading currency in global markets is when some of the leading nations control the majority of the crypto industry, then fully legalize it, perhaps even make it legal tender and push adoption so hard that they can then shove it down other nations' throats.

I don't know whether gold reserves can effectively be hidden, but Bitcoin reserves could be hidden. In theory, the US or China could already control the majority of the Bitcoin supply without anyone knowing even vague numbers.

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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 is necessary to accept the fact that states will not use bitcoin and other decentralized cryptocurrencies as a means of payment at the international level. There are many reasons for this, and above all, because of its high price volatility.
But citizens of different countries can and do use bitcoin as a global currency. The states can no longer interfere with this.

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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 officially legalized in some countries. But when Bitcoin is officially legalized all over the world, Bitcoin can lead the global market. But the popularity of Bitcoin is increasing day by day. There may come a time when people around the world will choose Bitcoin as their top currency for transaction and investing. Bitcoin may be expected to lead the world then. But it may not happen in our era. Maybe in our next generation or the one after that. But I hope one day Bitcoin will lead the world market.

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Whether Bitcoin will lead the world currency market is a matter of speculation and debate. There are many factors that could influence the future of Bitcoin and other cryptocurrencies, including government regulations, security concerns, and competition from other cryptocurrencies. Additionally, the stability and widespread adoption of cryptocurrencies is still in question, which could impact their ability to compete with established fiat currencies. And also the fact that Cryptocurrency is volatile. This is why many will ignore crypto.

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Quote from: virasog on February 13, 2023, 01:32:34 PM

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

To tell you truth, it may take many years minimum a decade or two, for bitcoin to replace the US dollar. There are so many challenges in the crypto world that i don't think it can be a streamlined process for this shift from US dollar to digital currency.

Bitcoin volatility and governments around the world not interested in this transformation are the major hurdles, for bitcoin to become the mainstream currency around the world.

Paradigm shifts happen faster than you would imagine. We are at the beginning of hyper-inflation stage of the US dollar and this is not something that is just falling due, it has been band-aided over and over again for decades. Two rounds of bailouts (08' and covid) combined with monumental QE (money printing) for over 7 years (started in the EU in 2016, US following shortly after) and now there is really not much stopping it from hitting the fan in a very quick amount of time. It should have happened during covid, though the stimulus and printing combined with economic shut down and distractions allowed another dying breathe. Another decade of the US Dollar? Highly unlikely. I give it 5 years and no more. Even that I think is over-shooting it by a lot.

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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

To tell you truth, it may take many years minimum a decade or two, for bitcoin to replace the US dollar. There are so many challenges in the crypto world that i don't think it can be a streamlined process for this shift from US dollar to digital currency.

Bitcoin volatility and governments around the world not interested in this transformation are the major hurdles, for bitcoin to become the mainstream currency around the world.

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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

People's positive thoughts about Bitcoin are increasing day by day. There are already many countries that have legalized Bitcoin in their countries. Considering the convenience and security of using Bitcoin, many people now choose Bitcoin as their means of transaction. Many countries have recently joined Bitcoin. When Bitcoin is adopted by people all over the world, people will definitely transact with Bitcoin instead of paper money. Maybe Bitcoin can be used as an alternative medium to the US Dollar but I don't think Bitcoin can replace the US Dollar.

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Quote from: Sayeds56 on February 13, 2023, 09:56:47 AM

It is is difficult to predict with certainty that Bitcoin will lead the world currency market in the near future. However, Bitcoin has the potential to address many issues in the current financial system. Bitcoin's unique characteristics, such as its deflationary nature, ability to hedge against inflation, and fast and cheap transactions, make it a promising alternative to current fiat currencies. However, there are many challenges that Bitcoin and other crypto currencies face, including adoption, regulation and security. Therefore, it remains to be seen if Bitcoin will emerge as leader of the world currency market.

I can exclude security from one of your reasons because so far bitcoin has a pretty good security case, in fact I believe that bitcoin is not hackable.

Bitcoin is a good alternative to fiat, but of course bitcoin is not to replace existing payment systems. The fiat system will still exist and may never be replaced, but for something better then bitcoin offers a solution. So definitely I support some of the variables you said, but about security I guess that doesn't include why bitcoin doesn't dominate over fiat in the long term.

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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

It is is difficult to predict with certainty that Bitcoin will lead the world currency market in the near future. However, Bitcoin has the potential to address many issues in the current financial system. Bitcoin's unique characteristics, such as its deflationary nature, ability to hedge against inflation, and fast and cheap transactions, make it a promising alternative to current fiat currencies. However, there are many challenges that Bitcoin and other crypto currencies face, including adoption, regulation and security. Therefore, it remains to be seen if Bitcoin will emerge as leader of the world currency market.

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