Do you think Bitcoin will lead the world currency market?? - page 4.

Raceonsucced

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Quote from: Edwardard on February 09, 2023, 11:14:04 AM

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

Although I think BTC is primed to beat gold in the near future and become one of the top accepted digital currency globally, but it still cant replace the USD to lead the world markets.
Actually, the us dollar moves the entire markets such as gold, btc, stocks, etc. and governments wont let anything replace that. Market pumps and recession everything happens based on the USD.

I agree with you. indeed btc is very famous and is the king of crypto coins. but the US dollar will still be irreplaceable, because the US dollar is still needed for the entire market and btc will not be able to replace it.

Sayeds56

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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 faces regulatory hurdles, that must be overcome before it can be widely adopted as a currency. It remains to be seen how adoption will progress in coming years.

yazher

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I believe that will happen in the future because, as we can see, those big companies that were not supporting it back then are now changing their minds and are the ones who are doing their job promoting it to their client. Also, other payment platforms are adopting it and implementing cryptocurrencies in their services. As we all know, some online payment that we usually used back then now have their own version of exchanges because they don't want to be left behind and don't want to spoil the chance where they can make more money from it. instead of listening to the bank's supporters, they instead do their own research and finally found out that implementing Bitcoin as one of their accepted payments is a good idea. With this kind of scenario going on, we have a high percentage that it will become one of the world currencies in the future if nothing will going to change the cause of the negative impact of some major exchanges.

maxreish

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Why not? Everything is possible in the future, but that doesnt mean it will gonna lead the world currency, though bitcoin is starting to be known and its popularity is at high level, we cant still predict about it., That is beyond words but if we are talking about digital eras and future happenings, then the power of digital currency will gonna improved. However, the fiat money is hard to replace and regulations about cryptocurrency are still on going on some countries.

CryptoBuds

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Bitcoin can survive and thrive without government approval, but for it to become a world currency or be used globally, it will depend on the government's decision. The government is not the issuer, nor does it control it, so it is very unlikely for bitcoin to lead the world currency market in the world. Even if bitcoin is judged to be superior to fiat, there is potential to reduce inflation for the economy if using it, but they will never do it because it directly affects their interests.

Ra2

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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.

mk4

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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.

Sanitough

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Quote from: OgNasty on February 09, 2023, 11:54:51 AM

Quote from: Yogee on February 09, 2023, 10:54:43 AM

Bitcoin can be an alternative but will not be a replacement. Banks and Government will move heaven and earth to make sure that will never happen hehe. They can make concessions like allowing it to co-exist with their national currency as an investment product or a legal tender but they will never allow it to exceed fiat or their own CBDC if they have one.

I would agree with this assessment. Right now Bitcoin is still relatively small on the global scale, especially when compared with top currencies. While I do believe the dollar will be replaced, I think it’s likely it will be replaced by a central bank digital currency, possibly made up of a basket of currencies. There is a chance that the people will reject government and use Bitcoin only, but I’d put the odds of that happening at probably 1%.

Well, this one has a good point too. Since we are now heading into a fully digital world, if USD will be replaced, most likely it would still be a centralized digital currency which is still in complete control with the government and central bank. Though bitcoin may also be globally accepted as a currency in the near future, but it will never lead the world currency market because of its decentralization nature.

LittleBitFunny

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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.

yudi09

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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

Governments around the world want to ensure that their currency is a currency that is free to move in all forms of local and global market activity every day even though some countries also use digital currencies to invest.
Bitcoin will go hand in hand with the official currencies of each country such as USD and EUR and I can say that Bitcoin cannot lead the world currency market but Bitcoin can be an alternative.

GreatArkansas

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Quote from: serjent05 on February 09, 2023, 06:20:19 PM

I think Bitcoin as an alternative currency will not lead the world currency market. Where do you see an alternative leading the market? Unless all governments in the world accept Bitcoin as legal tender then by all means, it will beat even the USD or Euro in terms of currency ranking.
(....)

As always. Bitcoin was created also to solve the current issues in our financial system. If you take a look and appreciate Bitcoin, you will see how Bitcoin can help us and become financial freedom compare to traditional banks or the financial systems we have right now.
For me, even though Bitcoin will not lead the world currency, Bitcoin is still the best digital currency, Bitcoin is here to stay.

serjent05

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I think Bitcoin as an alternative currency will not lead the world currency market. Where do you see an alternative leading the market? Unless all governments in the world accept Bitcoin as legal tender then by all means, it will beat even the USD or Euro in terms of currency ranking.

Bitcoin is yet to be acknowledged by many countries, and even ban them because they think that bitcoin is destroying their economy, and or their citizens are being exploited.

Yatsan

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Been asked multiple times and I'd still say no. Bitcoin has a lot of potential to be a good investment because of its volatile market value and the same reason why it won't be a leading currency. Yes, it has advantages over payments; not taxable, anonymity, low fees but faster transaction and such. But it has problems with adoption around the globe. Even at this point, people are only making use of it for profit purposes and only a few are actually using it with transactions because of many factors such as guilt of losing potential profit in comparison with just holding. And as long as its nature would be the same, I guess same thing would happen in the future.

Russlenat

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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 think bitcoin will be chosen for that position seeing that most of the government are against from the perception of bitcoin. I would rather accept the challenge that it could be a global currency in the future but will never reach to the point of replacing US dollar from leading the world currency market. But nevertheless, maybe in the future it might be possible once the government will become more open-minded and will accept the fact that bitcoin is more useful and beneficial than fiat.

Finestream

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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 was a similar thread like this in the past but I still want to give my point of view about this. It never come to my senses actually that we will end up seeing bitcoin overtaking the position of US dollar. Because bitcoin is not actually made to become the leading market currency but rather a good alternative as a payment method so that people can use them freely whenever they think it’s more convenient to use bitcoin than fiat. However, maybe in the future when all the countries will support bitcoin, seeing it leading the market will be possible but for now it’s too far from that to happen.

The Cryptovator

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Since it has been in existence for more than ten years, bitcoin has significantly increased in popularity and acceptance as a form of money. Whether it will eventually lead the world currencies is still to be determined. For Bitcoin to dominate the global currency market, a number of criteria, including stability, scalability, acceptance by governments and institutions, security, and regulatory measures, would need to be taken into account. Several issues that Bitcoin and other cryptocurrencies are currently facing in these areas remain to be addressed in the future.

teosanru

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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 think what you are saying will happen. I have discussed it so many times. Bitcoin has inherent problem which is it's huge volatility so whenever a government decides to keep bitcoin in reserve it's taking a huge foreign exchange risk which it has to hedge unnecessarily so unless it becomes the local currency of that area too it makes no sense to do foreign trades in this currency which is why it'll never become world currency.

so98nn

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May be or may be not. There are pros and cons for the use of bitcoin. There are definitely infrastructure based limitations to the bitcoin while making world's currency. Though this topic is discussed many times, the conclusion has always been mixed up. A bitcoin maximalist will always be positive about their answer but a realism one would say its not 100% possible to make it world's currency. With the time we will have bitcoin's adoption but it does not mean it will be throughout the world. Though bitcoin has reach to every corner of the world through internet, it still lacks proper infra (laws, rules, scalability) sort of problems putting it one step behind all the time. Till today the adoption is only 3-4% of the entire population. It's not even 1/10th of 100% which means we are far from the acceptance reality dude.

PrivacyG

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I doubt Bitcoin will get to dominate the Fiat market. The Fiat market is way too big. Way too Centralized. Do you think they will ever let Bitcoin become a majority?

The leading World Currency will continue to be a Centralized one. Bitcoin may become a national asset and legal tender in countries, but I will never expect it to exceed the size of Fiat markets because at this point I think it is very unrealistic.

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PrivacyG

pooya87

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You made a bad comparison hidden inside your question. Comparing bitcoin with altcoins like you compare USD with other fiat currencies is wrong because unlike altcoins, other fiat currencies are still useful and their nature is pretty much the same as dollar (unlimited supply, not backed by anything and weak). But altcoins are useless and many of them have severe security flaws.

As for your question, I don't think the centralized system is going away any time soon. With it the [centralize] fiat will remain and dominate the world. When these fiats are replaced they are replaced by another fiat.
But bitcoin will continue growing and continue being used on the global scale as a means of payment and a hedge against inflation.

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