Is bitcoin now the strongest currency in the world? - page 85.

Finestream

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Quote from: n0ne on June 22, 2017, 12:22:28 AM

Quote from: Dudeperfect on June 21, 2017, 11:57:28 PM

Quote from: v0rtecxz on June 21, 2017, 10:13:15 PM

I think the strongest currency is still held by USD $, but for the crypto currency I think bitcoin is at the top of the standings in the market, but for the future development bitcoin can be the strongest, because the bitcoin growth is very good and supported by the stable price in the market , I think sooner or later bitcoin will be a strong virtual currency and have a big impact for the economy in the future

Yes, most of the international transaction takes place in USD even at this moment and bitcoin is not a buzzing currency for the businesses yet. There are multiple reasons behind it and I think the main reason is volatility in the price and growth in the transaction fees. If we could somehow control these two aspects then many businesses would definitely use bitcoin for their financial needs which indirectly boost the global economy.

As mentioned even now USD is used much for majority of the transactions and volatility is one among the reason for the increased use of USD. Right now bitcoin is used for large volume transactions which needs a large set of process if done through banking system. Looking this I think bitcoin is one among the strongest currency, with the increased value than most other currencies. To be the strongest currency it needs to travel a longer time period.

Bitcoin simply is not the strongest currency, the value itself is not enough to represent it's strong.
The fact shall remain that this is not even a currency that can compete to a legal currency like USD, it's just a payment system which will help us bridge for faster transaction, take a look more on the estimated number of users than the price, it's volatile so it's not strong enough.

n0ne

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Quote from: Dudeperfect on June 21, 2017, 11:57:28 PM

Quote from: v0rtecxz on June 21, 2017, 10:13:15 PM

I think the strongest currency is still held by USD $, but for the crypto currency I think bitcoin is at the top of the standings in the market, but for the future development bitcoin can be the strongest, because the bitcoin growth is very good and supported by the stable price in the market , I think sooner or later bitcoin will be a strong virtual currency and have a big impact for the economy in the future

Yes, most of the international transaction takes place in USD even at this moment and bitcoin is not a buzzing currency for the businesses yet. There are multiple reasons behind it and I think the main reason is volatility in the price and growth in the transaction fees. If we could somehow control these two aspects then many businesses would definitely use bitcoin for their financial needs which indirectly boost the global economy.

As mentioned even now USD is used much for majority of the transactions and volatility is one among the reason for the increased use of USD. Right now bitcoin is used for large volume transactions which needs a large set of process if done through banking system. Looking this I think bitcoin is one among the strongest currency, with the increased value than most other currencies. To be the strongest currency it needs to travel a longer time period.

keithers

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As much as I believe in bitcoin and bitcoin's future, I still think it is way too volatile to be anywhere near the worlds strongest currency. For instance, just this past week my buddy needed to borrow $800 in Bitcoin to purchase some shoes because the seller was offering a discount for the buyer to pay in bitcoin. He sent me $800 on Venmo, and then I instantly purchased $800 worth of bitcoin because I always replenish the bitcoin that I spend.

Within the span of less than 2 minutes (or the time it took me to log in and buy), the same amount of bitcoin that I had just sent my buddy was worth $760. This doesn't count the $11.95 fee that I ate when I bought the $800 in Bitcoin on Coinbase. I didn't mind eating the fee because it was for a friend, but we wil definitely need a lot more stability to become the world's strongest currency.

I would agree that it's the worlds strongest currency from a tampering standpoint.

Dudeperfect

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Quote from: v0rtecxz on June 21, 2017, 10:13:15 PM

I think the strongest currency is still held by USD $, but for the crypto currency I think bitcoin is at the top of the standings in the market, but for the future development bitcoin can be the strongest, because the bitcoin growth is very good and supported by the stable price in the market , I think sooner or later bitcoin will be a strong virtual currency and have a big impact for the economy in the future

Yes, most of the international transaction takes place in USD even at this moment and bitcoin is not a buzzing currency for the businesses yet. There are multiple reasons behind it and I think the main reason is volatility in the price and growth in the transaction fees. If we could somehow control these two aspects then many businesses would definitely use bitcoin for their financial needs which indirectly boost the global economy.

batang_bitcoin

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So this thread / question was created last 2013. And for sure op's friends are now into bitcoin. No doubt that bitcoin is now the strongest currency not just in the real world but also include the crypto world. Bitcoin has been mere topics by business articles and investments.

v0rtecxz

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I think the strongest currency is still held by USD $, but for the crypto currency I think bitcoin is at the top of the standings in the market, but for the future development bitcoin can be the strongest, because the bitcoin growth is very good and supported by the stable price in the market , I think sooner or later bitcoin will be a strong virtual currency and have a big impact for the economy in the future

frowsiter

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The importance bitcoin can not be understood at this stage. It has all the potential that an ideal currency would want. It can also stand a chance to reserve the money in the world in bad times. Bitcoin is technology which can change the world in future by modernization of the transaction that we usually do. This will make bitcoin vital currency in the future because I think then we won't be having time to trade with physical currency and we may just wanna show up our hand with barcode on it to do the transaction. I'm just guessing all the importance that it can have making it unique currency of the era.

Sithara007

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The OP might have been on shrooms, if he wrote in 2013 that Bitcoin is the strongest currency in the world. The United States Dollar is the strongest currency in the world, as it is used for 90% of the international trade. Also, it is regarded as the reserve currency of the world. I don't know whether Bitcoin will ever be able to achieve that status.

freebutcaged

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Here we go again people quoting someone from 2013 as it was posted yesterday without looking at the date, I bet this thread could go on and

Becomes 250 pages long in the next 30 days, and as always now everyone are experts in economy with a few nobel prize in their resume.

They think if they say something it is the truth then? just point me to the right direction where I can find anything remotely similar to Bitcoin.

marcuslong

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Quote from: melvster on March 22, 2013, 08:43:58 AM

After the events of last week.

I was making this suggestion to some folks yesterday, but they claimed that bitcoin is too small. Does it matter?

It doesn't matter to those who hold bitcoins and getting profit from it however bitcoin is still not the strongest currency it still dollar however bitcoin can be use for those local sites they accepting bitcoins also when bitcoin becomes more useful like we xan use bitcoin anywhere maybe it will become one soon.

itsallpc

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Quote from: melvster on March 22, 2013, 08:43:58 AM

After the events of last week.

I was making this suggestion to some folks yesterday, but they claimed that bitcoin is too small. Does it matter?

It has been estimated that bitcoin would be the sixth largest reserve currency in the world in 2030.But for bitcoin to become the strongest currency,it would take more time.Now USD continues to be the strongest currency as it has been universally accepted.Its because USD has been in the market for more than 80 years and bitcoin has just crossed its initial eight years.

Superzpay

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Quote from: adzino on June 21, 2017, 05:50:16 PM

Would not say bitcoin is the strongest of all kind of currency. Would make more sense if we say it is the strongest of all crypto currency. The value of bitcoin is currently extremely volatile as we saw in past few weeks. A currency needs to be more stable in its value for it to be strong and compete with other currency.

The value is not the only thing which make sense for a currency to be a stronger currency. But there are a lot of other features which are attracting people towards itself and these people then do not leave off from bitcoin so I think it is a thing which make the sense that bitcoin is a stronger currency of the world.

adzino

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Would not say bitcoin is the strongest of all kind of currency. Would make more sense if we say it is the strongest of all crypto currency. The value of bitcoin is currently extremely volatile as we saw in past few weeks. A currency needs to be more stable in its value for it to be strong and compete with other currency.

carlerha

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Quote from: voltesbit777 on June 20, 2017, 02:11:15 AM

Quote from: melvster on March 22, 2013, 08:43:58 AM

After the events of last week.

I was making this suggestion to some folks yesterday, but they claimed that bitcoin is too small. Does it matter?

Bitcoin is becoming popular in different countries, but not enough to says that strongest currency in the whole world.
Due to dollars was still the world currency so far. Maybe in the near future bitcoin can become the the world currency.

no doubt that in crypto world bitcoin is already one of the most strongest currency of the world, but If we talk about the whole world including fiat currency, then very honestly USD is still in top, and the reason is that USD is present for a long time and I am sure that it will continue as number one for a long time because the community of bitcoin is still very small and it will take a large time to make it more stronger than USD.

Himanshu111

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I don't think Bitcoin is now the strongest currency in the world. It is becoming very valuable and popular all around the world but it is still not as popular as the global currency "USD" and it will have to travel a very very long way to surpass dollar.

richsoon

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Bitcoin is strong in the sense its value is going up and its surviving all types of crashes but its terribly weak if you think of how few transactions are made with it. Its strength lies in its speculation not its current usability.

wuvdoll

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Quote from: voltesbit777 on June 20, 2017, 02:11:15 AM

Quote from: melvster on March 22, 2013, 08:43:58 AM

After the events of last week.

I was making this suggestion to some folks yesterday, but they claimed that bitcoin is too small. Does it matter?

Bitcoin is becoming popular in different countries, but not enough to says that strongest currency in the whole world.
Due to dollars was still the world currency so far. Maybe in the near future bitcoin can become the the world currency.

But I too think yes. Because it’s the beginning of bitcoins, these days bitcoin is using just to make money and on the other side fiat has spent thousands of years so fiat is stronger and one thing I know is that bitcoin will make the revolution the day is not so far when bitcoin will be the strongest currency in world.

Sled

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Bitcoin is not considered as one of the strongest currencies in the world because it is still young and a lot of things to prove. I think that the strongest currency in the world is dollar because it is one of the most well known currency from the past until now so it is like one of the strongest and most stable currency but if we talk bitcoin then i can say that it is just getting to that point.

gabmen

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Quote from: matuson on June 20, 2017, 06:40:07 AM

Bitcoin is the most expensive currency in the world, but it does not mean that he is the strongest currency. We constantly see price spikes in the market, and this is evidence of instability and so the weakness of the currency. I hope that someday the situation will change and bitcoin will be strong and predictable currency.

Btc probably is not even considered my most as a currency at par to that of the dollar or fiat in general. I think it's right mow more of an investment and way for people to earn money from. Btc probably will reach that status in he future by for me i also don't consider btc as the monetary currency yet

fitty

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I think this is a no,being a strong currency would be easy by bitcoins but being the most strongest i think its not,its still in big fiat currencies in the market who is the strongest i think

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