Topic: Will Bitcoin become the reserve currency of the world? - page 22. (Read 50449 times)

It has been foretold that a cashless economy or society will emerge. The US$ and majority or all of the world's known legal currencies will seize to exist. Bitcoin may be decentralized and that the government may not have any or full control over it, but I'm pretty sure they'll find a way to identify who owns BTC and then try to manipulate these people or even worse, force them to give up their holdings. This may be far into the future, but it is the most probable thing I see will happen.

Might be or not but for me, it's hard to make it as the reserve currency since bitcoin is decentralized and no one can have a control over it. Some countries or government might disagree on making it as their currency. They still prefer gold than cryptocurrency.

I don't understand the way it could become the reserve currency of the world because it has a different nature from a fiat currency. Maybe in some very distant future it might be possible, but not within the next 40 or 50 years, I guess.

Look what is happening today and you have answer
Currency with that kind of liquidity to be global currency it is joke i guess
Forex is trillions dollars market all crypto market is just about 1% of  global assets
Bitcoin is also mot currency what you can buy with any crypto worldwide almost nothing
If will be possible to make daily shopping with crypto in most countries of the world we can talk about bitcoin is currency but global not possible at all

Yes, because Bitcoin is like a medium of exchange and a means of payment, gold, diamonds, banknotes, stocks, good things are a general consensus on the results of public acceptance and trust.
Bitcoin exchange rates change over time and are volatile. In the future Bitcoin will still be an alternative currency

Bitcoin will never become the reserve currency of the world. All countries will prefer like to hoard gold. Now USD is not so good as reserve currency, the value of USD is always decreasing and bitcoin price is unpredictable so gold is the only one choice for those countries who want to make sure their country economy good.

Well, it might. Why not? But in order to be the reserve currency it has to go a long way to stability and trust first.

US Dollar will be the reserve currency in the future. If it was replaced by another currency, it would be Euro. For their security and borderless transactions, cryptocurrencies will also be used. But it does not make it a candidate for being reserve currency.

Unlike other reserved currencies like USD It is not accepted in the formal financial world as a global trading currency yet but it will gain that position sooner with the crypto revolution we see in today world where many major industries are trying to connect there Businesses processes with blockchain technology and Bitcoin so in the future we could see Bitcoin is used by more and more businesses and individuals in the world and if that happens eventually Bitcoin will become a reserve currency of the world

No I don't think it will be either the Euro nor the Sterling Pound. They are all the same - fiat currencies with their value derived from debt. If the US dollar gets dethroned, they are all really only the equivalents.

I think it will be Special Drawing Rights or CO2 certificates or something exotic just as those. Or maybe bitcoin. Or maybe we will go back to gold standard. We'll have to see when it happens (not if it happens)

This will not be possibly happened because we have in a certain country's currency's value is different from the other. But, we can use as world's cryptocurrency because of it's characteristic that could be convertible in different currencies. All of the countries have a stable currency and it will not be changed.

You do have a point there, mate. Bitcoin works well as a "reserve currency" for third world countries, mostly because their currencies are worthless. For example, in Venezuela, people have been using Bitcoin as a hedge against their traditional Fiat currency. Since the Bolivar currency is highly inflated, their only choice to gain greater spending power is via the use of Bitcoin itself. Since the pioneer cryptocurrency is not issued by any central authority such as a Bank or a Government, its value is dependent on the people itself.

The unique characteristics of Bitcoin assimilates those of true Gold. That explains the reason why many people in countries like Venezuela, and even India, have been using Bitcoin for their daily needs. However, because Bitcoin is decentralized, some governments have been opposing it every step of the way. India has announced that it will ban Bitcoin and cryptocurrencies altogether, while Venezuela has shown a certain level of opposition against Bitcoin. Because of this, Bitcoin cannot be the reserve currency of the world, leaving the path open for centralized fiat currencies such as the US Dollar and the Euro.

However, if Bitcoin becomes centralized, then there's a huge possibility that it might become the world's reserve currency in the future. Banks and governments worldwide will embrace the cryptocurrency, as it's truly a unique form of digital gold. Until then, only Ripple has a higher chance of becoming the world's reserve currency if it becomes adopted by many banks worldwide. Just my thoughts

Yeah i have been thinking about this also since there are many currency all over the world in different countries. However, if you think that one currency of a certain country may undergone some problems to other countries for it will not be accepted for some reasons then this would be the time that we will going to put a reserve digital currency and that would be bitcoin.

It will be very difficult to make Bitcoin a reserve cryptocurrency. In the places, where people do not use the Internet or even do not know about it, BTC is simply useless. This crypto can become an alternative currency.

That's possible although I'm thinking that, in the future, there will be a more enhanced crypto that will be the universal currency in the world. Something that is more secure and is much less volatile. Maybe not so soon but somewhere in the future and I think it will be the one to most likely replace USD. For now, USD still gets stronger.

Inevitably bitcoin's indeed the most widely used cryptocurrency than other cryptocurrencies, this thing is evident from the many service providers or exchanges that serve bitcoin selling/buying transactions wherever we are.

Now the development of Alt-coin is no longer dependent on bitcoin, because of the many facts that show, that the growth of cryptocurrency is actually very dependent on most of its active users.

Bitcoin is very likely to be used as a reserve currency especially for countries affected by inflation, such as Zimbabwe and other countries. But also, bitcoin will function as a parallel moving currency along with the fiat currency.

I don't think like that, in my opinion bitcoin is an alternative for people who are blocked by conventional payment systems. Because with bitcoin, we can send money anywhere without significant obstacles

the world reserve currency is a currency held in large amounts by the government and includes a part of foreign exchange. and since the 20th century the USD has been established as the strongest reserve currency. and in my opinion bitcoin will not be able to replace the position of the dollar. because even though bitcoin is now popular and many know it, there are still many countries that reject bitcoin. whereas to become a world reserve currency must be approved by other communities and countries and also decentralized bitcoin.

I can’t see that as of now. Though there’s a probability of it if things change with its volatility and control. Let’s jyst wait and see how things change for a better world.

Maybe Bitcoin in the future will be a reserve currency for all or maybe it will be used as an alternative currency, if its value is acceptable as equal to the present currency or more, because the government will surely make their own crypto currency in the future, but who knows? It could be the opposite.