Topic: Will Bitcoin become the reserve currency of the world? - page 11. (Read 50449 times)

I think bitcoins will eventually become the world's reserve given that it reaches a certain amount of supply that it can finally reach every sector of the world including the poor. I guess we'll have to wait a little more and wait in the background of it all. We can expect bitcoins may achieve such feat.

For the foreseeable future, I would argue no. Bitcoin is a new type of electronic money created by a software engineer (Satoshi Nakamoto) in 2009. Bitcoins are not controlled by a central bank, but rather are created by users who generate new Bitcoins when they use their computing power to verify and process Bitcoin transactions (a process known as “mining”).

The answer to the question on whether Bitcoin will become a common currency of the world turns, to me, on whether Bitcoins satisfy the three key functions of money (medium of exchange, unit of account, and store of value). It is a medium of exchange. Fees are low (certainly when compared with using credit cards), transactions can be made anonymously (for those who value their privacy).

But Bitcoins are not good units of account or stores of value. The price of Bitcoins is very volatile (over seven times as volatile as the price of gold, and over eight times the volatility of stock market indices such as the S&P 500). For example, in 2011, the price of Bitcoins fluctuated between 30 cents and $32. It rose to $255 on April 10, 2013, and fell all the way down to $55 on April 17. By November of the same year, it was up to $1125. Today it is worth about $6,399

High volatility means Bitcoins do not function well as a store of value or a unit of account and so its use is likely to be severely limited in the foreseeable future.

There is a big possibility to become the reserve currency. The problem is government except that bitcoin has every opportunity to be that. But we can support Bitcoin for the worldwide reserve currency.

Hard to replace US Dollar as currency reserve. Bitcoin is decentralized system and its need more than regulation from government to be world reserve. But i do believe bitcoin is good long term investment like gold

I think bitcoin has some characteristics to become a virtual gold, and by electronic nature of store and transmission, bitcoin can be a currency for large and instant payment as well.

Bitcoin is a decentralized currency which means no one controls it and the government does not control it, so, bitcoin can not be a reserve currency.

According to my opinion , bitcoin will not become the world's reserve currency but Bitcoin or cryptocurrency will be the world's alternative currency.
We can send it anywhere without any obstacles and without any distress from one place to another place.

I think with the present, bitcoin will not become the world's reserve currency but in the future it will be accepted and become the world's reserve currency. I hope it will come true

1) Bitcoin pump? 2) Two narratives in crypto. 3) Elastos FUD? Time to buy ELA!
https://youtu.be/34x4xyBuqCM

Some people think that the altcoins market is signaling for the recent weeks that it is in front of the big move upwards. Other people believe that the move was already done, and it is time for the correction. I believe in a first one, but hedging is important!
Elastos – price is very low, it is time to buy ELA! I don’t believe in FUD and don’t even look at the news when I see its price chart!

I don't think bitcoin and cryptocurrency will become alternative currency. On the other hand, it will survive at the same time with fiat currency.

it could be, theres a greater possibility that it will not just become the reserve currency of the world, it could also become a legal currency of the world and or replace some currency in a certain country

Hardly the amount of paper money can be limited, because in addition to the cheapness of the product, it is possible to set any denomination of the bill. The transition to paper money was caused just by the high cost and inconvenience of working with metals. Therefore, Bitcoin is unlikely to have a chance in the near future to become a reserve currency, its purpose is to be an alternative currency.

although currently it is very popular and many exchanges in the world use it but for the world globally it still cannot use bitcoin, because there are many restrictions on the use of bitcoin from many governments that do not support bitcoin and they threaten bitcoin a threat to state authorities that ban bitcoin many countries have denied that bitcoin can be an option other than usd

maybe bitcoin is made into a world currency reserve as one of the best options. we know if bitcoin has a price and it can be used as one of the uses of bitcoin, so this is something that we can take from bitcoin and have a positive impact.

Governments are constantly pushing for cashless societies.

Cryptocurrency will likely become the new cash for the world. People will always find a way of controlling their finances

I think bitcoin has the opportunity to grow and become more popular in the future, Bitcoin in the future is more acceptable and certainly can be a reserve currency.

In my opinion bitcoin could be the alternative currency for future in the technology era. Many people will use bitcoin as an easy way to pay in everything. It could be a large scale of user with the technology growth bitcoin is alreafy together with the high technology.

Bitcoin OTC market is huge – accumulation in action. $20T cryptocurrencies capitalization prediction – underestimation!
https://youtu.be/e40CX0wRi5E

Кaк cдeлaть 1000x нa кpиптoвaлютax? Пo-пpeжнeмy вoзмoжнo! Hoвocти: BAT нa Coinbase.
https://youtu.be/DCAoWS1iqsI

in my opinion. that might happen bro. because if we see the number of paper currencies in the world is limited so there will be a high probability. bitcoin is the world's reserve currency