Topic: Will Bitcoin become the reserve currency of the world? - page 24. (Read 50449 times)

If you look at Bitcoin's current model, it's decentralized. This means that it's impossible to become the reserve currency of the world in its current state, as no one can control its supply or issue the same. For Bitcoin to achieve its status as a reserve currency, it would need to become centralized without a doubt. Only that way, governments could easily manipulate it by either issuing more coins (inflation) or restrict access to the same. Like I said before, I once thought that Bitcoin could become a reserve currency of the world because it was growing in popularity.

However, upon realizing that most governments have been against decentralization, it's hard to believe that Bitcoin will become the reserve currency of the world anytime soon. Despite this, the US Dollar might continue to be the world's reserve currency for quite some time. Even if the US Dollar gets displaced in the future, cryptocurrencies like Bitcoin won't get chance of becoming the world's reserve currency. Instead, another centralized Fiat currency issued by the government will take the lead in case the USD fails. It could be the Euro, the GBP, the Yen, or even the Chinese Yuan.

do you mean bitcoin is a substitute for dollars?
no, bitcoin is an alternative currency that has a different function than dollars, as well as profitable investment assets of course.

Bitcoin is one of the greatest invention of the century by Satoshi Nakamoto for the benefit of the global community to their daily requirement which can be operated world wide .Bitcoin has a strong net work system with the modern technology. It is the first crypto currency which introduces a modern economical concepts through out the world but it is found totally contrary to the present form of economy  which we follow at present.The crypto currency or bitcoin is found deem suitable to the modern era.Since bitcoin will not effect any type of inflation this can be operated parallel to the official currency where the countries are in financial crash down. Bitcoin could help to overcome some countries of the world while they were effected severe financial crash down to their economy like Greece, Japan and Brazil etc. In such a circumstance bitcoin can be used to support the  financial stability of any country while they are in trouble so bitcoin  as a reserve currency of the world.

yes indeed no one knows about what will happen in the future, I just hope the best for bitcoin in the future, in my opinion bitcoin cannot replace fiat money but bitcoin can be a currency that accompanies conventional currencies, I'm sure bitcoin will accepted as a currency throughout the country

Bitcoin is virtual currency, it decentralized, it very volatile and it a liberation of common from the government. Therefore, there is no chance for bitcoin to be world currency reserve because the government will want to force and control bitcoin to the extent of changing the protocol led by Satoshi when he implemented bitcoin.

Bitcoin is fundamentally better than fiat money such as the Euro and the US dollar because it is voluntary and it does not require anyone in the market to use it with violence, mandatory regulations, and impractical policies.

Looking at the quality and the technology of this virtual currency,maybe there is a possibility of bitcoin to become a reserve for the worldwide currency.
But the problem is,would be the dollar allow this to happen?as we know the stand of the US government in every circumstances.well this maybe declared in future since this too early to tackle

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Bitcoin already recognize as currency that can be use in different transactions but thinking about bitcoin as reserve world currency is hard to predict because there many things that could happen in the near future. Even bitcoin already use by many countries still we can't remove our traditional money which is fiat.

Banks are as of now making harmonious associations with computerized resource trades and blockchain systems that use digital currencies. Driving cryptographic money trade Bittrex reported today that it's starting fiat exchanging for Bitcoin,

A cryptocurrency will inevitably become the global currency of the virtual life, or the internet, where an increasing amount of people are residing, but I don't think it will be Bitcoin. It will begin with cryptocurrency in general and then everyone will gradually lean towards an altcoin with more benefits.

I think we're heading towards an organized virtual shared reality of sorts in which value will predominantly be exchanged in a digitized, global society. Playing a part in traditional countries would be outdated, unsustainable and obsolete. Not going to happen for another few generations though.

It was the growing leader, it has hit a "bum in the rod" and now bitcoin cant even transition into the bull market. but with time bitcoin can be the leader, since its the first cryptocurrency.

That's certainly true, mate. For Bitcoin to become the reserve currency of the world, it would need to become centralized and regulated by the government. Otherwise, it would be nearly impossible for Bitcoin to achieve said status as it's decentralized. The huge factor which prevents Bitcoin from becoming a reserve currency of the world is the huge volatility in prices. Hence, if Bitcoin would've been more stable, then it could've been used more as a currency than as a store of value, IMO.

However, as well as you do, I believe that Bitcoin is a great investment for the long term like Gold. Eventually, people will demand the pioneer cryptocurrency once more, resulting in new ATHs that were never seen. While this is not indicative of Bitcoin becoming a reserve currency, it'll mean that Bitcoin would become extremely popular as an alternative currency from traditional Fiat.



Instead of becoming the world's reserve currency, it could become the global currency of the people within the future. Bitcoin is decentralized now, which makes it unfriendly to banks and governments worldwide. Unless it becomes centralized for any reason, I don't see it becoming the reserve currency of the world. I've once thought about such possibility but given the fact that centralized Fiat currencies are too dominant in the mainstream world, it's very unlikely that Bitcoin will become a reserve currency within the future. In the end, the reserve currency of the world will be the US Dollar (as it is right now) or another currency with greater spending power than the USD.

Nobody knows what will happen tomorrow, But i hope every people can support bitcoin. Maybe bitcoin will not change physical currencies just complement. Indeed today some people has used bitcoin in daily life, and some altcoin depend on bitcoin, because bitcoin is first digital currency in the world. I hope it will be better in future.

I think so, when the USD starts to strengthen and other Fiat weakens, there are some countries that suggest switching it to Bitcoin
although Bitcoin is currently not legal in all countries but I believe in the future Bitcoin will be an alternative solution to avoid the impact of the world economic crisis

Each country already has its own currency, and that is the pride of every country. So in my opinion it is impossible for Bitcoin to become the world's reserve currency. Bitcoin is just an investment that is very good for the future and only for exchanges in the two cryptocurrency alone.

Bitcoin digital currency, meaning: Bitcoin is intangible, or held and touched.
Bitcoin is sold and bought based on the country's legal currency, for example, one Bitcoin price $... To be traded in certain countries.

In this case it is impossible for bitcoin to become one of the world's reserve currencies, because all countries now have their own currencies, to be officially traded.

no it is not difficult to convert local currencies into digital currencies today , how much more if we are already in the future ? with the advanced technology and more inventions or innovations , im pretty sure that everything in the future will now be possibe and everything will be so easier .

bitcoin and other cryptos is not also a reserve currency because they arent only for display or for reserve because we are already using them on our daily lives .


why ? i dont  see any risk with it .  changing thier money to cryptos is actually more beneficial because they can do cool things like online shoping , paying ,  gambling , etc .


this is already  happening ,  crypto and local currencies are now working as one because we can exchange them vice versa .

This is a speculation. Bitcoin has everything to become the reserve currency of the world. It is popular, people are using it and can exchange it. Bitcoin is creating and will create a lot of jobs in the future. Investors are looking for more freedom in business and bitcoin allows that. It is international and does not depend on any countries. Bitcoin cannot be used as a political instrument. It is a currency for the people and by the people. All in all, Bitcoin would be a great world reserve currency. However, I believe banks and governments will come out with an alternative.

yup this makes more sense, that cryptocurrency will become the reserve currency in the world in the near future, because it is very difficult to convert conventional currencies to digital currencies in a global context in the near future, it is very risky to force all world people to change their money into crypto / bitcoin. I agree more if crypto and conventional currency are able to collaborate to provide benefits for the wider society.