Do you think Bitcoin will lead the world currency market?? - page 3.

coinerer

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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

Us doller (USD) is issues by United States of America. And it is a dollar created by the government because of which the world has gained trust in it and everyone believes that it will never be destroyed or scammed and everyone's money will be completely saved that is why it is now used as the number one currency worldwide. Although crypto currency lovers trust and support Bitcoin enough. But out of 8 billion people worldwide, only 420 million people use cryptocurrency so far. So Bitcoin may one day be used as an alternative to USD but it is hard to say how long it can take.

if later bitcoin is legalized like USD or the whole world has recognized it as a legal currency, then the possibility of becoming like USD will be wide open. but the problem is that most countries have not recognized it, so that more people still do not understand about bitcoin, and it seems that until now there have been no signs to legalize bitcoin for big countries, so it is true that maybe generations after us will happen

Bitcoin is already used as a legal currency in some countries, but it will take several more years before it is used as a legal currency in all countries around the world. Then of course Bitcoin will be used as an alternative to USD and I think Bitcoin will be widely used for import and export of various products. But it is doubtful whether we will see it in our generation. Maybe our next generation can see and enjoy it

Yes, it's true, bitcoin has actually become a global currency.

Bitcoins can be sent and received anywhere in the world as long as the user has a bitcoin wallet.
Bitcoin ATMs are present in the UK, Europe, US, Asia and Africa.
Bitcoins can be bought from almost anywhere in the world.
And there are already many who use bitcoin, and even continue to grow with their respective goals and also serve as an alternative transaction among bitcoin users which I think will continue.
and bitcoin has been accepted by many countries and big companies including Microsoft, Subway, PayPal and so on.
and it is only a matter of time before Bitcoin is known globally, because we will never know in the future for our next generation, and currently there are still pros and cons, especially its instability.

The biggest advantage is that there is no limit on Bitcoin transactions, the only limit is the wallet's rules & regulations. This is also a disadvantage because it is very easy to do bad things like money laundering. On the other hand, there is a bank specific limitation for USD transactions. For example in my country a user can endorse a maximum of 12k USD per year on his Debit/Visa card. But Bitcoin doesn't have this problem. Hopefully our next generation will be able to use these benefits of bitcoins for globally transaction like USD

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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

No.

Just think of it. Will the government of each country allow a currency that they can't control to be the leading currency? I mean US dollar currently is the accepted currency worldwide and that as well is controlled by the FED and the government. Will they allow something like Bitcoin to be the currency of the world if they know that they can't control it.

Different countries might've permitted Bitcoin for transaction, but that doesn't mean that it will be the leading currency of the world. Don't jump to conclusions like that just because a few countries tried to permit it or accepted it. No possibilities, no chances, just no, no. It can still be used as an alternative payment though, but will not be a leading currency.

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Quote from: xSkylarx on February 12, 2023, 02:50:38 AM

It has a possibility because some countries already use bitcoin as their legal tender, right? So it is really possible, but the question is when for sure it will take more years or decades, but also keep in mind that bitcoin was not made to replace our current fiat system, hence it was made so that we can transact or send and receive money online that can be easily tracked and has low fees. Due to technology getting better and cashless society getting introduced to us, it is really possible that bitcoin was one that will be used, or if not for sure, it was derived from bitcoin also.

So far, we only have 2 countries that accept bitcoin as legal tender, and those 2 are 3rd world. Even with more countries in the future, there is no chance that bitcoin will be able to lead the world currency market unless the major powers accept it as a legal tender. But that is even more unlikely because the US and China both want their currencies to lead, if bitcoin exceeds that limit, they will find a way to stop it. But you are right, bitcoin is not created to replace the fiat system, it will become an alternative that exists side-by-side with the traditional monetary system.

xSkylarx

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It has a possibility because some countries already use bitcoin as their legal tender, right? So it is really possible, but the question is when for sure it will take more years or decades, but also keep in mind that bitcoin was not made to replace our current fiat system, hence it was made so that we can transact or send and receive money online that can be easily tracked and has low fees. Due to technology getting better and cashless society getting introduced to us, it is really possible that bitcoin was one that will be used, or if not for sure, it was derived from bitcoin also.

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Quote from: coinerer on February 11, 2023, 06:54:06 AM

Quote from: Xampeuu on February 11, 2023, 01:24:20 AM

Quote from: coinerer on February 10, 2023, 11:53:20 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

Us doller (USD) is issues by United States of America. And it is a dollar created by the government because of which the world has gained trust in it and everyone believes that it will never be destroyed or scammed and everyone's money will be completely saved that is why it is now used as the number one currency worldwide. Although crypto currency lovers trust and support Bitcoin enough. But out of 8 billion people worldwide, only 420 million people use cryptocurrency so far. So Bitcoin may one day be used as an alternative to USD but it is hard to say how long it can take.

if later bitcoin is legalized like USD or the whole world has recognized it as a legal currency, then the possibility of becoming like USD will be wide open. but the problem is that most countries have not recognized it, so that more people still do not understand about bitcoin, and it seems that until now there have been no signs to legalize bitcoin for big countries, so it is true that maybe generations after us will happen

Bitcoin is already used as a legal currency in some countries, but it will take several more years before it is used as a legal currency in all countries around the world. Then of course Bitcoin will be used as an alternative to USD and I think Bitcoin will be widely used for import and export of various products. But it is doubtful whether we will see it in our generation. Maybe our next generation can see and enjoy it

Yes, it's true, bitcoin has actually become a global currency.

Bitcoins can be sent and received anywhere in the world as long as the user has a bitcoin wallet.
Bitcoin ATMs are present in the UK, Europe, US, Asia and Africa.
Bitcoins can be bought from almost anywhere in the world.
And there are already many who use bitcoin, and even continue to grow with their respective goals and also serve as an alternative transaction among bitcoin users which I think will continue.
and bitcoin has been accepted by many countries and big companies including Microsoft, Subway, PayPal and so on.
and it is only a matter of time before Bitcoin is known globally, because we will never know in the future for our next generation, and currently there are still pros and cons, especially its instability.

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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

No, because Bitcoin is too volatile and the BTC blockchain cannot handle billions of transactions per day. This question has been answered a billion times in the forum already. Grin

Just try to find the old forum threads about this topic, instead of creating another useless forum thread.
It's historically proven that the biggest empire in the world has the dominating currency. First it was the British pound in 19th century, and then the US dollar took over after World War 2. Maybe the Chinese yuan will replace the US dollar as a global currency, or maybe not. Who knows. Bitcoin doesn't have a big empire behind it's back. A bunch of small underdeveloped countries are Bitcoin-friendly, but that doesn't mean anything. The big powers must accept BTC as a legal tender, which is close to impossible to happen,

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Quote from: Ra2 on February 09, 2023, 10:02:33 PM

Recent, I think this is not qualified subject. Because Bitcoin already leader of digital ecosystem industry. we can not wait to see, Bitcoin will be able to rebuild any volatile industry, if they have hold to btc. And Can't wait to see in future, all of LC, industries products, electric bill, gas bill and much more will be approve payment by Bitcoin. Every country will approve Bitcoin. So it's future leader of all industry.

I think it will be great for us if we can pay gas bills, electric bills and other bills through bitcoin. Because bitcoin is gaining a lot of popularity now. If the bills are introduced through bitcoin then the popularity of bitcoin will increase. . Everyone will be encouraged to use Bitcoin then I think we will see that very soon.

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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.

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Quote from: Xampeuu on February 11, 2023, 01:24:20 AM

Quote from: coinerer on February 10, 2023, 11:53:20 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

Us doller (USD) is issues by United States of America. And it is a dollar created by the government because of which the world has gained trust in it and everyone believes that it will never be destroyed or scammed and everyone's money will be completely saved that is why it is now used as the number one currency worldwide. Although crypto currency lovers trust and support Bitcoin enough. But out of 8 billion people worldwide, only 420 million people use cryptocurrency so far. So Bitcoin may one day be used as an alternative to USD but it is hard to say how long it can take.

if later bitcoin is legalized like USD or the whole world has recognized it as a legal currency, then the possibility of becoming like USD will be wide open. but the problem is that most countries have not recognized it, so that more people still do not understand about bitcoin, and it seems that until now there have been no signs to legalize bitcoin for big countries, so it is true that maybe generations after us will happen

Bitcoin is already used as a legal currency in some countries, but it will take several more years before it is used as a legal currency in all countries around the world. Then of course Bitcoin will be used as an alternative to USD and I think Bitcoin will be widely used for import and export of various products. But it is doubtful whether we will see it in our generation. Maybe our next generation can see and enjoy it

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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 be honest, yes more people are buying Bitcoins and adopting it. But you need to understand the fact that, they are not using it as a currency. Rather they are using it as an asset. They buying the Bitcoins and holding it to yield more and more profits from it. So if you debate regarding the lead of world currency, then it’s completely baseless. Yes I have seen many people using the Bitcoins to do little payments, but majority of the people hold it as an asset. Therefore I don’t think Bitcoins will lead anywhere, if the World’s Currency is considered.

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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 think there are two changes happening in the world currency markets at the moment. The first is the rise of crypto currencies. For the last few years a lot of investors started to aquire druotos. The second trend is the losing power of the US Dollar as the world dominating currency. This is comes as other countries like China, India, Russia and big oil export countries in the middle east are trying to trade in their own currencies between each other, instead of settling all trade in USD. All these countries would like to see another currency as the world leading trading currency, if possible their own currency. This seems very unrealistic at the moment, why would any country support something else then their own currency. The real question is now would there be a compromise to find a different currency every country would be happy with. Here comes crypto currencies in as the perfect solution, an independent currency that is not controlled by government. The main problem here is that the price for bitcoin is not really stable, as long as there are big price fluctuations it's hard to use bitcoin as the world currency to settle all trade.

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Quote from: coinerer on February 10, 2023, 11:53:20 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

Us doller (USD) is issues by United States of America. And it is a dollar created by the government because of which the world has gained trust in it and everyone believes that it will never be destroyed or scammed and everyone's money will be completely saved that is why it is now used as the number one currency worldwide. Although crypto currency lovers trust and support Bitcoin enough. But out of 8 billion people worldwide, only 420 million people use cryptocurrency so far. So Bitcoin may one day be used as an alternative to USD but it is hard to say how long it can take.

if later bitcoin is legalized like USD or the whole world has recognized it as a legal currency, then the possibility of becoming like USD will be wide open. but the problem is that most countries have not recognized it, so that more people still do not understand about bitcoin, and it seems that until now there have been no signs to legalize bitcoin for big countries, so it is true that maybe generations after us will happen

coinerer

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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

Us doller (USD) is issues by United States of America. And it is a dollar created by the government because of which the world has gained trust in it and everyone believes that it will never be destroyed or scammed and everyone's money will be completely saved that is why it is now used as the number one currency worldwide. Although crypto currency lovers trust and support Bitcoin enough. But out of 8 billion people worldwide, only 420 million people use cryptocurrency so far. So Bitcoin may one day be used as an alternative to USD but it is hard to say how long it can take.

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Quote from: mk4 on February 09, 2023, 09:41:10 PM

Quote from: LittleBitFunny on February 09, 2023, 08:56:12 PM

I assure you that bitcoin will never be able to lead the world monetary system. Our world is becoming modern day by day, there is a possibility that fiat will be replaced by digital currency, but it will be government generated money, not bitcoin or altcoins, government will never let that happen. Bitcoin acceptance is on the rise, but it will only stop as an alternative, an optional payment method, it will never be an official world currency.
I think in the future, it is more likely that bitcoin will be more of a gold-like asset than a payment method, even though it can be used for payments.

Do you really think it's that impossible knowing that Bitcoin's reach is global, while the US Dollar is only for a single (albeit huge and powerful) country? Bitcoin can easily beat the USD in terms of marketcap in the long term.

I don't think the dollar is only for one country, if I'm wrong please correct me, all international commercial transactions today use the dollar as the main currency. During the 2022 crisis, the USD is still considered a safer haven relative to other assets. The possibility of USD being replaced is still there but the probability is too low, and as I said, if it does, it will be another centralized currency and not a decentralized currency.

As for whether bitcoin will beat the USD cap in the long term, let's wait and see because if we compare bitcoin's capitalization to gold or the stock market today. The capitalization of gold is $11 trillion, and the stock market's capitalization is over $70 trillion.

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Yes it can be done whenn all people know how the technology work, by far people use fiat because it is well known to all people on earth "maybe" and gold. But the global currency is supposed to be gold or fiat backed by real gold. Bitcoin is can be global currency but it will takes time

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Quote from: lionheart78 on February 10, 2023, 05:25:15 PM

Quote from: mk4 on February 09, 2023, 09:41:10 PM

Quote from: LittleBitFunny on February 09, 2023, 08:56:12 PM

I assure you that bitcoin will never be able to lead the world monetary system. Our world is becoming modern day by day, there is a possibility that fiat will be replaced by digital currency, but it will be government generated money, not bitcoin or altcoins, government will never let that happen. Bitcoin acceptance is on the rise, but it will only stop as an alternative, an optional payment method, it will never be an official world currency.
I think in the future, it is more likely that bitcoin will be more of a gold-like asset than a payment method, even though it can be used for payments.

Do you really think it's that impossible knowing that Bitcoin's reach is global, while the US Dollar is only for a single (albeit huge and powerful) country? Bitcoin can easily beat the USD in terms of marketcap in the long term.

I agree, as far as I know that USD even though widely use is only a legal tender to eight countries[1], so I think with the features of Bitcoin, it will eventually beat USD in terms of country that will accept it as a legal tender. It is that Bitcoin economy is still young so we might need a longer time for Bitcoin to start its climb on the ranking of global currencies.

If the market of Bitcoin matures, I also think that it can easily dethrone any top-ranking global currency

https://www.nationsonline.org/oneworld/currencies.htm#:~:text=The%20US%20Dollar%20is%20the,Palau%2C%20Panama%2C%20and%20Zimbabwe.

Bitcoin needs time to take the lead. People aren't prepared enough to consider it as the primary currency on daily usage. To reach such a level it takes time and countries needs to be supportive. More countries making it legal tender makes way for the bitcoin to take lead of USD. In all means bitcoin is serving the world as an alternate and this needs to change.

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Quote from: mk4 on February 09, 2023, 09:41:10 PM

Quote from: LittleBitFunny on February 09, 2023, 08:56:12 PM

I assure you that bitcoin will never be able to lead the world monetary system. Our world is becoming modern day by day, there is a possibility that fiat will be replaced by digital currency, but it will be government generated money, not bitcoin or altcoins, government will never let that happen. Bitcoin acceptance is on the rise, but it will only stop as an alternative, an optional payment method, it will never be an official world currency.
I think in the future, it is more likely that bitcoin will be more of a gold-like asset than a payment method, even though it can be used for payments.

Do you really think it's that impossible knowing that Bitcoin's reach is global, while the US Dollar is only for a single (albeit huge and powerful) country? Bitcoin can easily beat the USD in terms of marketcap in the long term.

I agree, as far as I know that USD even though widely use is only a legal tender to eight countries[1], so I think with the features of Bitcoin, it will eventually beat USD in terms of country that will accept it as a legal tender. It is that Bitcoin economy is still young so we might need a longer time for Bitcoin to start its climb on the ranking of global currencies.

If the market of Bitcoin matures, I also think that it can easily dethrone any top-ranking global currency

https://www.nationsonline.org/oneworld/currencies.htm#:~:text=The%20US%20Dollar%20is%20the,Palau%2C%20Panama%2C%20and%20Zimbabwe.

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If its already legal and being accepted in every country then its possible though we have to consider its supply as well, this can be very inconvenient and very expensive to some if the supply is limited for the world market. Bitcoin should not aim for this, instead it should remain a crypto currency that gives access to everyone which the fiat money can’t give. I still see USD will be the leader when it comes to currency, they are too strong for that reason.

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Quote from: Sayeds56 on February 10, 2023, 07:12:25 AM

The potential of Btcoin to become a global currency is very interesting topic of discussion on both print and electronic media. The increasing acceptance of Bitcoin as method of payment by many businesses and individual is very positive sign for it future prospects. On the other hand, Bitcoin is still a relatively new currency and its value can be very volatile. It also face regulatory hurdles, that must be overcome before it can be widely adopted as a currency. It remains to be sen how adoption will progress in coming years.

this is why i don't think we will see in our lifetime that btc will surpass the dominance of USD. it may increase its popularity of usage but it won't surpass the USD. people should be grateful the usage of crypto is increasing but aiming to surpass USD, not yet. there are pros and cons of using this currency, and the governments are still on the cons side.

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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 will agree with you that bitcoin is gaining wide acceptance, and it is getting bigger and bigger. But to think that it will replace the US dollar or government currency as the main currency in the world, that is unlikely. I think there's not even a chance for that to happen unless the government gets control of bitcoin and can print more bitcoins.

Topic: Do you think Bitcoin will lead the world currency market?? - page 3. (Read 560 times)