if bitcoin was main currency, what's gonna be the BTC value?

Obito

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Quote from: noorman0 on February 08, 2022, 05:18:08 AM

If bitcoin is the main currency, then any government will absorb bitcoin as much as possible to be able to control it and only circulate in their own country centrally (blockchain is underfunctional). Maybe bitcoin can also be used as a reference for a country's wealth because it is a rare digital asset reserve.

Bitcoin will forever be an alternative even if it is legalized. It's not worth pairing with something that can be created infinitely.

They won't be able to do that though as they're going to need to circulate it because hoarding it won't lead them anywhere besides their economic collapse. If it's the only currency then that can only mean that the countries won't be able to keep bitcoin for themselves. I would say that bitcoin would be worth around a billion for it to be a currency used by every country because that's going to be a lot of countries.

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If bitcoin is the main currency, then any government will absorb bitcoin as much as possible to be able to control it and only circulate in their own country centrally (blockchain is underfunctional). Maybe bitcoin can also be used as a reference for a country's wealth because it is a rare digital asset reserve.

Bitcoin will forever be an alternative even if it is legalized. It's not worth pairing with something that can be created infinitely.

Dunamisx

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Quote from: Bohfin Legasof on January 06, 2022, 03:20:47 AM

BTC was created with a new transaction system without a central authority. The BTC can be used in the future as the main currency that we gonna pay with. But what's gonna be the value of a main currency? What's the value of dollars or eur?

-Answer is: The dollar IS the value. The dollar doesn't cost anything. The dollar is the value.

If BTC is gonna be used in future, it not gonna cost anything, because the BTC is gonna be the value. It not gonna be like Bitcoin cost 50,000dollars... Bitcoin not gonna cost anything because Bitcoin IS the value. But that's probably not gonna happen. We not gonna pay with BTC but with stable coins like USDT...

For now base on what we can see and believe, bitcoin is coming up to the standard of the US dollar in the nearest future whereby it will be generally acceptable and adopted as a legal tender, though I cant say it will erase the US dollars from existence but likely to work along with US dollars as the world most recognized currency, bitcoin already is the leading cryptocurrency and the value cannot be exactly predicted as its volatile but can place a great significance other than US dollars in the nearest future.

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Quote from: virasog on February 03, 2022, 08:05:15 PM

Quote from: Mamun74 on February 01, 2022, 08:56:15 AM

I think Government Won't allow to happen bitcoin is main currency. So It's impossible to bitcoin main currency. Bitcoin is most popular and most valuable coin in crypto market. We already know that all coin price depends on bitcoin price. Bitcoin price now little dip i hope bitcoin price will be more increase in this year and i hope market will be green again.

Once the bitcoin will be used by more than 50% of the population of the world, it will no longer be in the control of the governments to stop the usage of bitcoin or ban it. Instead the governments will themselves buy it and those who won't have bitcoin in their reserves will be left behind.
We can continue to compare the price of bitcoin with USD but after a certain time, there wil be only bitcoins and no usd or fiat currency.

Well, it is a possible conclusion but it needs to take time before that will happen.
I am always certain that bitcoin would never be able to replace fiat currency, and I have no idea what its value will be until it does. It may be used for exchange or purchase, but it will never be the main currency. If you are wondering what would happen if the government allowed it, I am very sure they won't let it happen easily, and there's no way for any crypto to be worth anything given the fact that there's no assurance or measure of its value.
In short, --bitcoin and fiat should always be there forever.

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Quote from: virasog on February 03, 2022, 08:05:15 PM

Once the bitcoin will be used by more than 50% of the population of the world, it will no longer be in the control of the governments to stop the usage of bitcoin or ban it. Instead the governments will themselves buy it and those who won't have bitcoin in their reserves will be left behind.
We can continue to compare the price of bitcoin with USD but after a certain time, there wil be only bitcoins and no usd or fiat currency.

I am inclined to think that the fiat will not disappear no matter how much its use decreases, as discussed above. Even when gold was used as currency, it coexisted with less valuable coins of other metals. Typically this will be a process where we see more and more use of Bitcoin for payments and less and less use of fiat.

So, going to what the OP was asking, is that it is so relative. As of today we compare Bitcoin to other currencies, mainly the dollar. If in the transition I was talking about earlier it became Bitcoin unit of account, it would be the other way around, we would look at how many satoshis a dollar would be worth at that point. And in absolute terms, in the unlikely event that all other currencies disappeared and only the Bitcoin remained, 1 BTC would be one BTC but the value would be measured based on the things we could buy with it.

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Quote from: virasog on February 03, 2022, 08:05:15 PM

Quote from: Mamun74 on February 01, 2022, 08:56:15 AM

I think Government Won't allow to happen bitcoin is main currency. So It's impossible to bitcoin main currency. Bitcoin is most popular and most valuable coin in crypto market. We already know that all coin price depends on bitcoin price. Bitcoin price now little dip i hope bitcoin price will be more increase in this year and i hope market will be green again.

Once the bitcoin will be used by more than 50% of the population of the world, it will no longer be in the control of the governments to stop the usage of bitcoin or ban it. Instead the governments will themselves buy it and those who won't have bitcoin in their reserves will be left behind.
We can continue to compare the price of bitcoin with USD but after a certain time, there wil be only bitcoins and no usd or fiat currency.

That is a scenario that can obviously happen, but it is not what many think, some have in their mind that BTC can reach values of more than $200k, and it is not bad, when looking at models like the S2F it can be seen that it is not an insane amount and that it can possibly occur, however taking into account the current situation, people will not see it that way but quite the opposite, that it will not be able to arise and that it will decrease, but for me, the value of BTC could not calculate it , because it would be like doing an appraisal of capital gains, which is very difficult to do.

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Quote from: Mamun74 on February 01, 2022, 08:56:15 AM

I think Government Won't allow to happen bitcoin is main currency. So It's impossible to bitcoin main currency. Bitcoin is most popular and most valuable coin in crypto market. We already know that all coin price depends on bitcoin price. Bitcoin price now little dip i hope bitcoin price will be more increase in this year and i hope market will be green again.

Once the bitcoin will be used by more than 50% of the population of the world, it will no longer be in the control of the governments to stop the usage of bitcoin or ban it. Instead the governments will themselves buy it and those who won't have bitcoin in their reserves will be left behind.
We can continue to compare the price of bitcoin with USD but after a certain time, there wil be only bitcoins and no usd or fiat currency.

TelolettOm

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If BTC becomes the main currency in the world, I am sure that the world has been changing into something great. This means that the mass adoption of Bitcoin and blockchain technology have been very spreading.
Using Bitcoin as the major currency in the world is not easy, moreover, this is decentralized.
The value?
I am sure that it will be as high value, as the dollar right now.
We have seen many cases where something becomes the major, the thing will have a very high value. Moreover, if all countries similarly accept this.
But will it be?
I am not sure about this.
For we know that there is a big power of fiat as the main currency in the world. Bitcoin may be one of the currencines, but not as a main currneyc.

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I've often thought about this as well.

If the currency goes away and BTC is adopted as the central currency for all what would it be worth?

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if bitcoin is the main currency I think this is the best news in the world it is also time for bitcoin to become famous all over the world and since bitcoin is the global currency, not all of it can be thought of as the value in an economy of a country so let's estimate it based on how much we can buy in a B

Best news? No not really because not all countries or people loves bitcoin but they only used to using the standard currency and it will be very weird for them if BTC suddenly introduced as a main currency. BTC is somewhat popular now but BTC is going to be a talk in the town once this event happen but will will this event really happen? I have a doubts on this one because it can look very complicated.

How do we know the value of BTC if there will be no more dollar and local currencies because they will be gone too once BTC takes place as the global currency. What will the pricing of the items? And how much BTC are we going to pay to buy them.

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It is not possible to answer this question in exact numbers, however, if you think about it, it becomes clear that it will be very expensive. That is, the price of one bitcoin will be very high - since there will be a frantic demand for bitcoin - after all, it is legal tender everywhere and everyone needs it. Such demand and the absence (suppose) of supply that could satisfy such demand - there is a shortage and prices rise. I think it's too early to talk about it, but it's always good to dream!

Mamun74

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I think Government Won't allow to happen bitcoin is main currency. So It's impossible to bitcoin main currency. Bitcoin is most popular and most valuable coin in crypto market. We already know that all coin price depends on bitcoin price. Bitcoin price now little dip i hope bitcoin price will be more increase in this year and i hope market will be green again.

AicecreaME

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Quote from: Bohfin Legasof on January 06, 2022, 03:20:47 AM

BTC was created with a new transaction system without a central authority. The BTC can be used in the future as the main currency that we gonna pay with. But what's gonna be the value of a main currency? What's the value of dollars or eur?

-Answer is: The dollar IS the value. The dollar doesn't cost anything. The dollar is the value.

If BTC is gonna be used in future, it not gonna cost anything, because the BTC is gonna be the value. It not gonna be like Bitcoin cost 50,000dollars... Bitcoin not gonna cost anything because Bitcoin IS the value. But that's probably not gonna happen. We not gonna pay with BTC but with stable coins like USDT...

Foremost, bitcoin being the main currency is close to impossible because the government won't allow it to happen in the first place. The central organizations wouldn't permit the blossoming of bitcoin and before it even start to soar, they would definitely stop it instantly. But if it were to be the main currency, I bet the price of it would depend on the supply and demand because in the first place that's what really distinguishes the price position of bitcoin. The market demand and supply circulation as well as the season would predict what value it may hold.

Wawa2013

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if bitcoin is the main currency what is the value of btc, honestly I will not be able to answer the question you ask, because I am not sure bitcoin will be the main currency, because bitcoin will still be a very valuable investment and asset, even if we make bitcoin as the main currency is definitely the government will oppose us, and find a way to bring down bitcoin.

With the volatile price of Bitcoin, it is not possible to become the main currency, while the main currency requires a stable price. After all
the government will never allow Bitcoin as the main currency, and also from the beginning Bitcoin was not created to replace fiat. So I see
the most ideal Bitcoin should be only as an alternative to payment, it makes more sense to be realized. But there are still many countries that
reject Bitcoin as an alternative payment, especially as the main currency, really hard to come true. Bitcoin is also now more widely used
by the majority of people as an investment asset, because the price is volatile can give us profit if hold in the long term. So instead of thinking
about things that are difficult to achieve, why don't we just focus on using Bitcoin as an investment.

KaliLinux

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Quote from: ChrisPop on January 08, 2022, 01:55:29 PM

Indeed, if BTC become the mainstream currency of the world all the other assets' values shall be denominated in BTC value. But Bitcoin could end up only becoming the main store-of-value asset and we'd use a more stable currency for day-to-day payments.

Look, I am all for Bitcoin and the general cryptocurrency adoption but how do you think that, something with only 21mill total supply will be the world's mainstream currency? Even if many countries eventually adopt Bitcoin as a legal tender which I believe can happen, it will not replace fiat currency but will be accepted as such for payments and true value will be determined then because it should be more stable as a mainstream currency.

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Quote from: taufik123 on January 23, 2022, 09:11:04 AM

Quote from: teosanru on January 22, 2022, 01:19:52 PM

I don't think value will be dependent upon the adoption instead valuation will be more dependent upon the play by the whales, adoption as you can see is much more than what it was an year ago but still the price of Bitcoin is somewhat less than what it was a an year ago. I think whales are going to continue their own play with the price and adoption is going to happen side by side.

adoption is only a trigger that bitcoin is recognized by several companies which will certainly make the price spike, but over time the price will go down again. Bitcoin is a cryptocurrency that has a volatile nature with high volatility, so bitcoin cannot be used as the main currency just like that. to become a major currency like Fiat must have strong price stability. Whales play a role for the volatile bitcoin market and many more that affect the bitcoin price.

Really, price stability in terms of what? If bitcoin is the main currency how will you measure it's price in? Moreover in the adoption stage every currency has high price fluctuations only, many fiats too experience pretty high inflations.

Quote from: suzanne5223 on January 23, 2022, 09:34:23 AM

Quote from: taufik123 on January 23, 2022, 09:11:04 AM

Quote from: teosanru on January 22, 2022, 01:19:52 PM

I don't think value will be dependent upon the adoption instead valuation will be more dependent upon the play by the whales, adoption as you can see is much more than what it was an year ago but still the price of Bitcoin is somewhat less than what it was a an year ago. I think whales are going to continue their own play with the price and adoption is going to happen side by side.

adoption is only a trigger that bitcoin is recognized by several companies which will certainly make the price spike, but over time the price will go down again. Bitcoin is a cryptocurrency that has a volatile nature with high volatility, so bitcoin cannot be used as the main currency just like that. to become a major currency like Fiat must have strong price stability. Whales play a role in the volatile bitcoin market and many more that affect the bitcoin price.

@teosanru The value of every commodity or store of value always depends on the level of adoption and enthusiasm within the ecosystem but that doesn't mean the bigger fish won't manipulate the market. However, the price of Bitcoin was more than what it's was years ago because of adoption and halving effect.

Here I meant value in terms of price, what I am trying to say is we will obviously grow in longer term but valuation and pricing we will never be able to equate in terms of the adoption we are having in bitcoin.

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Quote from: taufik123 on January 23, 2022, 09:11:04 AM

Quote from: teosanru on January 22, 2022, 01:19:52 PM

I don't think value will be dependent upon the adoption instead valuation will be more dependent upon the play by the whales, adoption as you can see is much more than what it was an year ago but still the price of Bitcoin is somewhat less than what it was a an year ago. I think whales are going to continue their own play with the price and adoption is going to happen side by side.

adoption is only a trigger that bitcoin is recognized by several companies which will certainly make the price spike, but over time the price will go down again. Bitcoin is a cryptocurrency that has a volatile nature with high volatility, so bitcoin cannot be used as the main currency just like that. to become a major currency like Fiat must have strong price stability. Whales play a role in the volatile bitcoin market and many more that affect the bitcoin price.

@teosanru The value of every commodity or store of value always depends on the level of adoption and enthusiasm within the ecosystem but that doesn't mean the bigger fish won't manipulate the market. However, the price of Bitcoin was more than what it's was years ago because of adoption and halving effect.
@taufik123 Understand that fiat currency are also volatile in there own way. Bitcoin been highly volatility doesn't mean it cant be a major currency but it can't major currency because of it decentralization which is a setback to the government.

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Quote from: teosanru on January 22, 2022, 01:19:52 PM

I don't think value will be dependent upon the adoption instead valuation will be more dependent upon the play by the whales, adoption as you can see is much more than what it was an year ago but still the price of Bitcoin is somewhat less than what it was a an year ago. I think whales are going to continue their own play with the price and adoption is going to happen side by side.

adoption is only a trigger that bitcoin is recognized by several companies which will certainly make the price spike, but over time the price will go down again. Bitcoin is a cryptocurrency that has a volatile nature with high volatility, so bitcoin cannot be used as the main currency just like that. to become a major currency like Fiat must have strong price stability. Whales play a role for the volatile bitcoin market and many more that affect the bitcoin price.

teosanru

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Quote from: Bohfin Legasof on January 06, 2022, 03:20:47 AM

BTC was created with a new transaction system without a central authority. The BTC can be used in the future as the main currency that we gonna pay with. But what's gonna be the value of a main currency? What's the value of dollars or eur?

-Answer is: The dollar IS the value. The dollar doesn't cost anything. The dollar is the value.

If BTC is gonna be used in future, it not gonna cost anything, because the BTC is gonna be the value. It not gonna be like Bitcoin cost 50,000dollars... Bitcoin not gonna cost anything because Bitcoin IS the value. But that's probably not gonna happen. We not gonna pay with BTC but with stable coins like USDT...

I don't think value will be dependent upon the adoption instead valuation will be more dependent upon the play by the whales, adoption as you can see is much more than what it was an year ago but still the price of Bitcoin is somewhat less than what it was a an year ago. I think whales are going to continue their own play with the price and adoption is going to happen side by side.

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If history is any guide I don't think it will be stable nor will it become a major currency, with what we have seen so far, Bitcoin price is rising and falling steadily almost every minute, so I doubt it will stabilize.
associated with bitcoin as a whole will not be easy to predict and no one knows in the future, even though it becomes the main currency my hope seems to be taking a very long time because it is still very vague because it will continue to fluctuate.

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