Topic: Will Bitcoin become the reserve currency of the world? - page 25. (Read 50421 times)

Yes. The US Dollar continues to be a strong currency that's trusted by many countries in the world. For it to be replaced, it needs to fall in value which is very unlikely. Even with the popularity of cryptocurrencies such as Bitcoin and Ethereum, no other currency has been able to replace the USD. For this and many other reasons, Bitcoin cannot be the reserve currency of the world anytime soon. While it's still practical and functional as a global currency that's easily accessible by anyone, it'll be nearly impossible for it to become the standard or reserve currency of the world because it's decentralized.

As such, a reserve currency needs to be controlled and manipulated by a central bank and a government. Since Bitcoin lacks these properties, no single entity could control its supply, or enforce regulations. Centralized currencies are the best bet for a reserve currency, and the USD fits the bill nicely. Whenever it'll still be the USD, or another currency like the Euro, we do not know for certainty. However, we do know that Bitcoin will continue to grow over time until it becomes a viable alternative towards Fiat.

Nevertheless, cryptocurrencies like Bitcoin are unpredictable and no one could know what will happen with them in the future. Whenever Bitcoin becomes a reserve currency (by becoming centralized) or not, it's yet to be seen. Just my opinion

I doubt about this. We know that the bitcoin are still not approved by all country in this world. We know that there are many countries who banned and not allowed the bitcoin to enter to their country. In this only statement the possibility of the bitcoin was not sure. Maybe becaise the bitcoin was not stable. And it os very difficult to adjust. We know that.

In some ways bitcoin already is a global reserve currency.

Particularly regarding the global BTCl network, which is already  well established.

Bitcoin doesn't need permission from government to be global p2p currency.

More and more people are waking up to what this means.

The giant fiat currency bubble looming over the entire world is going to go 'pop' fairly soon, imho!

It can happen due to the demand it has gained in the world as the first digital currency and also as a great investment asset and that is the reason many people in the world who seek to gain profits are attracted to Bitcoin. The usage of Bitcoin becomes much higher than any other cryptocurrency in the world so that is a main reason that we can predict there is a big possibility Bitcoin will become the reserve currency of the world   

Bitcoin is not that much different from gold with the difference that it has not physical form, but governments do not use bitcoin or gold as reserves because they are too comfortable with the fiat system they have created even if they know that at the end the system cannot sustain itself for long but they are fine with that since they have stole money from people for decades thanks to fiat.

For me it might not be that easy to fill the USD's role as a real currency. We know for a fact that indeed bitcoin is really a wonderful and useful cryptocurrency, yet we have to consider how quickly it can become very volatile which maybe bad for a currency. We also know that bitcoin is not being governed by anybody and therefore regulating the prices may just be difficult. We know how any government needs to have the power to regulate its own currency for economic balance. So for me it is too early for bitcoin to replace dollar or it might not really be a big possibility in the future.

Bitcoin is one of the major crypto currency started in the year 2009.It is an electronic asset and can be operated world wide for the benefit of the human being.This is a new form of economy as against the the current economical concepts in which we follows at present .Bitcoin has a strong net work systems,  connected with the modern technology and hence the global investors are attracted to bitcoin for their daily business deal.So its popularity has increased world wide and more people are utilizing the benefit out of it.So bitcoin become a reserve currency of the world.

Yes. USD being the current reserve currency of the world, would be too hard to replace in the future. I've once thought about Bitcoin becoming the reserve currency of the world, because of its increasing popularity over the course of time. However, I've found out that it'll be nearly impossible for the pioneer cryptocurrency to achieve said status unless it becomes centralized. Only then, governments and banks around the world could easily manipulate it and enforce AML at will. With Bitcoin's current state, it's impossible to track down every user with the purpose to freeze access to their funds.

This makes it unideal for a reserve currency of the world, unlike the USD which is backed by controlled by the US government. Eventually, as blockchain technology becomes studied by such entity, the USD could change from being a physical currency to being "digital cash". Then, the USD might remain as the reserve currency of the world in the future, or another currency would prevail over the USD.

Nevertheless, what matters is that Bitcoin has become a global currency which anyone could use without restrictions. It may not be the reserve currency of the world, but it's a store of value which has gained the trust of many people in the mainstream world over time. Just my thoughts

Yes you are right, I also think that Bitcoin is an alternative currency as a substitute for making transactions, because using crypto currency makes it easier for all transactions, as I have now.

That maybe the right idea that bitcoin does not become a reserve currency but as an alternate currency , because if bitcoin will be fulliy recognized and legit ,the other currency will still be working, so bitcoin and fiat currency might go along with each other ,evem if the cryptos are already been recognized worldwide.

The US cant handle the burden of keeping its Dollar as reserve currency for the world. This will going to implode the US economy sooner or later. There are many economists who have already predicted this about Dollar and we will be needing a reserve currency which is not the currency of some country.

Bitcoin will definitely be a store of value for the future. I can see it being used as a Gold-like type of investment for individuals and possibly countries like China. The good thing is people can already trade their Bitcoins to Gold and vice-versa on places like Vaultoro.

As for reserve currency, I don't think it has the potential to serve as money for most people around the world. Other types of cryptocurrencies will likely have to enter the fold and serve as crypto-paper money.

It depends on the country you are living if they will not banned bitcoin it can be their currency as reserved.Due to its decentralized and possible that can be a payment system in our country.If crypto will stay forever and be strong until the ends.

It is already a currency and it is a crypto currency LOL
It has a high chance to become a reserve if majority of the people agrees to make it centralized with a stable price or value but this idea will be bloody because a lot of people will surely oppose to it.


If there will be a central governance for Bitcoin and its price will stable it could be a reserve crypto currency for digital goods but this will take a long period of time and there will be tremendous amounts of discussions about this because not every people like this kind of aspect and opposing people are expected. Some of the reasons why other people don't like this kind of centralization idea are the facts that those people are the ones that bought Bitcoin at the highest price. And of course, there are also whales with a huge amount of Bitcoin that wanted to control the market and against the centralization idea.

even though bitcoin is not a real currency. but the use of bitcoin is almost the same as real money. so bitcoin can be used for fiat currency. but there are still many countries that are still opposed to the circulation of bitcoin. so btc isn't used in real currency transactions.

Well, in terms of value, it may possibly become a reserve because it is easily transferred and stored. However, in the real world, it has difficulty retrieving it because it depends on the virtual world.

Yes that's true bitcoin is getting more and more popular, and many other altcoin still depends on bitcoin a lot. Maybe because it's the first coin and it's not really easy to replace the first, moreover if the first is successful. But maybe other altcoin will have other chance later in the future. Begin to be better and doesn't depend on bitcoin anymore.
But i think although that means bitcoin is the best in cryptocurrency, it doesn't apply in the real world. Since i think usd is still better and it'll be hard to replace usd, although i like bitcoin a lot and i'll be happy if it becomes more popular than before.

Yes. There's still opposition from world governments into recognizing Bitcoin as a legal medium of exchange for people to use in their daily lives. While Bitcoin lives on the Internet, not everyone is permitted to gain access to it, if the government restricts it. For Bitcoin to achieve the status of a reserve currency of the world, it needs to be accepted as a legal currency in every country worldwide. Due to Bitcoin's decentralization, it's threating government's current economic system, which explains why some countries have devised laws against it. However, if Bitcoin becomes centralized, then it would gather the likes of banks and governments worldwide.

Despite this, I believe that there's no reason to worry about this, since Bitcoin will always serve as an alternative currency to Fiat. Without a doubt, a centralized currency will become the reserve currency of the world. However, it's a matter of time before the US Dollar remains as such, or another currency would take its place. For the meantime, Bitcoin could be the reserve currency of all the cryptocurrencies on the market today. Just my thoughts

It is already the reserve cryptocurrency and is serving as the reference currency with the US dollar for all altcoins on many exchanges around the world and so I for instance wouldn't be surprised to wake up one day to find bitcoin as the reserve currency worldwide.

It seems that it can be because bitcoin is proven to be a good investment and its security is also hard to hack ... and also because Bitcoin is developing and leading from all crypto currencies that exist ...