Will Bitcoin become the reserve currency of the world? - page 29.

tegarp90

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Quote from: Abiky on August 04, 2018, 12:12:09 PM

Do you think Bitcoin will become the reserve currency of the world sometime in the future? I was wondering about this since Bitcoin is now a widely used cryptocurrency worldwide. Since most altcoins in the market today, are dependent on Bitcoin's price movements, it seems like Bitcoin is the reserve currency of cryptocurrencies.

However, if Bitcoin tends to become more popular each day, it could eventually take the USD's place as the reserve currency of the world. Hence, what are your thoughts about this? Will it happen or not? Huh

Yes it will... if btc has more improvement and faster transaction speed and 1 more, it has to improve the safetyness of their wallet.
If those improved, i'm sure btc will be the world currency

hastag_80

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Quote from: Abiky on August 04, 2018, 12:12:09 PM

Do you think Bitcoin will become the reserve currency of the world sometime in the future? I was wondering about this since Bitcoin is now a widely used cryptocurrency worldwide. Since most altcoins in the market today, are dependent on Bitcoin's price movements, it seems like Bitcoin is the reserve currency of cryptocurrencies.

However, if Bitcoin tends to become more popular each day, it could eventually take the USD's place as the reserve currency of the world. Hence, what are your thoughts about this? Will it happen or not? Huh

Actually my opinion about this if the cryptocurrency someday would become the reserve currency of the world,its would only been happen if its accepted as being regulated and legalized by the world government as part of the monetary fund of all over the world,and its will become a legitmate parts of world exchange currency fund,but for as of now thats its only a digital figures and not totally global accept this cryptocurrency,its will serve's as only part of economic investment.

hardip567

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Absolutely sure When everyone knows the benefits of bitcoin, then gradually the bitcoin will be included in the world.

lornadane

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Quote from: Abiky on August 04, 2018, 12:12:09 PM

Do you think Bitcoin will become the reserve currency of the world sometime in the future?

No, I don't think Bitcoin will become the world's reserve currency. Because there have many facts of course. Bitcoin is popular but not enough familiar with every people of the world. Bitcoin has volatility nature, anytime its price can go very high or low, no one has bitcoin's control. Bitcoin is not helpful for the developing country because its tax-free, World has better currency than Bitcoin. So, bitcoin can't be the reserve currency of the world.

Quote from: Abiky on August 04, 2018, 12:12:09 PM

Since most altcoins in the market today, are dependent on Bitcoin's price movements,

I agree with it, without bitcoin's good movements, altcoin will not be big! Bitcoin dominate the crypto market, that is why many people know the cryptocurrency market only for Bitcoin.

zedrickjuls

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I don't think this will happen because the government do not allow bitcoin to replace fiat money and there are still lot of countries that banned bitcoin,so I think it takes more time to happen.

Dean Collins

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Bitcoin could become a global reserve currency, but it will not. Two main similarities are the lack of control by the authorities and a limited amount of gold and bitcoins. Recall, the algorithm limits the number of bitcoins 21 million "coins". If bitcoin becomes a world reserve currency, then on its basis central banks will be able to issue their fiat money. Issuing fiat money will be one of the last opportunities for central banks to influence monetary policy. At the same time, if bitcoin becomes a standard, then a moderate increase in deflation will occur. But after reaching a certain level, its speed will be minimal. At the same time, the introduction of a new standard will not abolish economic crises, they will continue to occur.

muddy waters

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Quote from: Abiky on August 04, 2018, 12:12:09 PM

Do you think Bitcoin will become the reserve currency of the world sometime in the future? I was wondering about this since Bitcoin is now a widely used cryptocurrency worldwide. Since most altcoins in the market today, are dependent on Bitcoin's price movements, it seems like Bitcoin is the reserve currency of cryptocurrencies.

However, if Bitcoin tends to become more popular each day, it could eventually take the USD's place as the reserve currency of the world. Hence, what are your thoughts about this? Will it happen or not? Huh

Your scenario is unlikely to take place in the nearest hundred years, or at least while the US (and China with its yuan) remain the wold's leading economies.
Rome was not built in a day, and in the same way btc will not become as widespread as the current fiat leaders - dollar, yuan, euro, won.

Jyominall

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In fact, Bitcoin is rapidly displacing the US dollar as the world's reserve currency. But there are significant impediments to the adoption of Bitcoin for daily retail and wholesale purchases and for settlement of debt. So, it will not happen soon.

kram31

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I think bitcoin deserves more than a reserve currency.
Most people in cryptocurrency world are looking forward to BITCOIN as the mai currency to use world wide.
With the support of many alternative coins. this will happen very soon.

GeorgiyBilyk

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already the International Monetary Fund itself drew attention to the crypto system and to bitcoin! Today, a lot of banks invest in bitcoin and other crypto coins! for this I would not be surprised if bitcoin would be a reserve currency! bitcoin for 8 years to the whole world showed that it is worthy of attention and investment!

Valer4ik

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that you so believe in this halving do not understand ...

Now every hamster knows about halving, and it is already embedded in the current price.

On the costs of miners in general, do not give a shit to everyone, everyone loves only to be jealous of income.

When the time comes to halving, there will be no rush, the maximum of the big players will try to organize a pamp, but it will be as short as the one that was this winter, if there will be.

OffGrid54

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It is right that within a short time bitcoin become very popular but still compare to fiat or USD it is still nothing but may be some day it will happen.

iv4n

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Quote from: Kuchiyose on October 08, 2018, 09:55:00 AM

Quote from: endut15 on October 08, 2018, 09:51:43 AM

Quote from: senin on October 08, 2018, 12:44:56 AM

It depends on what you mean by this value. I think that Bitcoin will be mainly used by citizens and will be mainly for carrying out large-value transactions. States and business structures do not seem to use it as often because of its high volatility. However, all this will depend on how well Bitcoin will be improved.

no one knows, how the development of bitcoin will be in the future, whether what you say is true, or vice versa, so we all never know how in the future, our desire for future bitcoin can be used as a currency. even though it's only a side currency.

Absolutely true, something that cannot be ascertained about what happened with Bitcoin in the future because all have high hopes and ugliness in the future with the existence of several governments that do not like Bitcoin.

Bitcoin can become global reserve currency, why not, but will it happen or not, we will see about that yet. I think in this faze it`s too early to even discuss about it, because it can`t happen anytime soon. Governments are not ready to get into bitcoin , they can`t trust in something so new and untested. If they dare to get into it they will need to have miners, they will need to have some kind of control over transactions. We see more efforts towards regulating Bitcoin, which also gives it more legitimacy in the long run, but years will pass before anything happen on global level. We need to wait more countries to adopt and legalize bitcoin and crypto currencies, after that we will see some moves on global level.

beryziq

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I'm sure, even today Bitcoin has become more popular over time. However, bitcoin will not take the place of USD or other fiat currencies, I think, bitcoin will only be an alternative currency that is highly favored by the society.

Kuchiyose

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Quote from: endut15 on October 08, 2018, 09:51:43 AM

Quote from: senin on October 08, 2018, 12:44:56 AM

It depends on what you mean by this value. I think that Bitcoin will be mainly used by citizens and will be mainly for carrying out large-value transactions. States and business structures do not seem to use it as often because of its high volatility. However, all this will depend on how well Bitcoin will be improved.

no one knows, how the development of bitcoin will be in the future, whether what you say is true, or vice versa, so we all never know how in the future, our desire for future bitcoin can be used as a currency. even though it's only a side currency.

Absolutely true, something that cannot be ascertained about what happened with Bitcoin in the future because all have high hopes and ugliness in the future with the existence of several governments that do not like Bitcoin.

Impulseboy

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While that idea is fun to think about, I do not think bitcoin will ever replace USD as the world's reserve currency. I agree with the others, though, bitcoin can instead become the world's alternative currency. Plus, it will be a few years before this happens, but it will especially since the crypto world keeps on growing.

endut15

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Quote from: senin on October 08, 2018, 12:44:56 AM

It depends on what you mean by this value. I think that Bitcoin will be mainly used by citizens and will be mainly for carrying out large-value transactions. States and business structures do not seem to use it as often because of its high volatility. However, all this will depend on how well Bitcoin will be improved.

no one knows, how the development of bitcoin will be in the future, whether what you say is true, or vice versa, so we all never know how in the future, our desire for future bitcoin can be used as a currency. even though it's only a side currency.

Amarantcoral

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I think bitcoin has such a potential to become the reserve currency of the world but it's need a long time.

basyang

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Quote from: Abiky on August 04, 2018, 12:12:09 PM

Do you think Bitcoin will become the reserve currency of the world sometime in the future? I was wondering about this since Bitcoin is now a widely used cryptocurrency worldwide. Since most altcoins in the market today, are dependent on Bitcoin's price movements, it seems like Bitcoin is the reserve currency of cryptocurrencies.

However, if Bitcoin tends to become more popular each day, it could eventually take the USD's place as the reserve currency of the world. Hence, what are your thoughts about this? Will it happen or not? Huh

I do not think so. It seems to me that we do not need to jump in a conclusion because some of it could happened and some of it could not. We shoul always need to think what will be the pros and cons of it in the market. Maybe same countries did not want it because of its decentralized and even a government did not want it.

jennygamilo

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For that thing to happen countries all over the world should be legalized bitcoin for us tl use it freely bit for me it hink no because it is not yet k own all over the world

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