Topic: Will Bitcoin become the reserve currency of the world? - page 32. (Read 50449 times)
i was wondering about this since bitcoin is now a widely used cryptocurrency worldwide..most altcoins in the market today are dependent on bitcoin's price movements, it seems like Bitcoin is the reserve currency of cryptocurrencies.if Bitcoin tends to become more popular each day, it could eventually take the USD's place as the reserve currency of the world...bitcoin is certainly a reserve currency for the altcoins but don't see it happening for fiat, even in future! Bitcoin is not designed that way to become a reserve currency and our current centralized system would not allow this happen. should not mix this two economies separate economy and we must consider cryptos as a parallel economy system which will rule its own kingdom. when it comes to ruling both economies, centralized banking cartels will have the control on their hand only they won't let a decentralized currency become so strong that it threatens the existence of current system...
Recently, the popularity of bitcoin is slowly decreasing due to it being banned in multiple countries and a new set of rules that are made by the bitcoin personnel. Users that disobey these said rules are banned and in order to still continue using bitcoin they would create a new account but would have a hard time to rank up due to the merits required. and if the cycle continues this would be hard for bitcoin to be a currency but if people understand bitcoin not just a scam or a fraud it would be much easier for it to be the international currency.
According to me, bitcoin will not be the world's reserve currency, but Bitcoin or cryptocurrency will be the world's alternative currency. because we can send it anywhere without obstacles and without distress.
You have a point, because fiat was too hard to kill or remove from every country because it is the part of the history and it is need by community and country. Crypto was volatile price so it is not good to become the focus money of every country. It is like a fiat that the economy was too fast to grow and dump. When everybody use this, every money in the world has the same economy or when the price dump, the whole world affect.
yeah i want to make that happen to, so the bitcoin user and bitcoin holster can use bitcoin in every country in the world, i think if we want to create this situation happen, bitcoin should accept in all country in the world, so the bitcoin developer or 3rd party developer that will make the bitcoin for payment can make this without restriction from the rules
i think it's 50:50
maybe yes maybe no
bitcoin has the value to transfer money anywhere
but to become a reserve currency of the world i think bitcoin can't
because bitcoin is not scalable
i can't imagine people all over the world having to queue for transaction confirmation
7 to 16 transactions per second are not enough for worldwide adoption
maybe yes maybe no
bitcoin has the value to transfer money anywhere
but to become a reserve currency of the world i think bitcoin can't
because bitcoin is not scalable
i can't imagine people all over the world having to queue for transaction confirmation
7 to 16 transactions per second are not enough for worldwide adoption
Yes. Bitcoin needs to scale urgently if it wants to become a worldwide currency. While it's decentralized and highly unlikely to become the world's reserve currency, it could become a second alternative to fiat currencies for years to come. It will depend on how popular and widely used it will be around the world. At its current state, it's useless for handling transactions of all the world's inhabitants.
However, with the Lightning Network, I believe that Bitcoin could reach many people worldwide, without limitations. Depending on its technical aspects, it would allow Bitcoin to infinitely scale to millions of TPS without adding stress to the main network. Another thing that needs to happen would be the widespread adoption of the internet worldwide. Since some countries lack internet access, it'll be impossible for Bitcoin to be used there. This is one of the many things Bitcoin would need to address, to become a worldwide currency which is scalable, and most of all, unstoppable.
With good effort and dedication from the dev team, and the community, Bitcoin could become a solid reserve currency for all cryptocurrencies in existence to date. Just my thoughts
I think bitcoin may not become a reserve currency of the world at this current time but perhaps in the near future where bitcoin is already under mass adaptation globally, then it may have a chance that it will be considered soon. Bitcoin is a growing currency and the leader of all cryptocurrencies will become the most valuable currency in the world where many people would wanted to have their own.
On my opinion, I think bitcoin will be the primary currency of this world for every country except of those country that banned the cryptocurrency. In a world we’re politics is controlling the financial system and reserve currency is doomed from its real purpose, but for power. But I also think that bitcoin will not be the reserve currency for the future as it is very much fluctuating but, Maybe Etherium will get a good stable position in the cryptocurrency world.
It is going to globally accepted as a digital currency. But i don't think that it will be the reserve currency because it has volatile nature.
There is also the possibility of ubiquitous use of quasi-money, the growth of their turnover, exit from the informal sector and, of course, attempts to integrate technology into the banking sector. On the other hand, it is a speculative asset, a tidbit for venture transactions between major players in the market. All is far from unambiguous, therefore now it is best to observe the development of the situation.
The popularity of bitcoin is amazing now. Social media has helped to get bitcoin into the minds of people. Most of them still don't know how to genuinely start joining the bitcoin market but with time, when more people get to understand how to own a wallet and conveniently convert fiat to bitcoin, it is possible for bitcoin to be a currency reserve for a good number of countries.
according to my opinion bitcoin can't be reserve currency and we can expect it to be a one, cause we all know it is a cryptocurrency which is online based currency it can't become reserve country for the world but nothing can be ensure maybe in the future things can turn into something else
I think we cannot mix these two economies. Fiat has a separate economy and we must consider the cryptos as a parallel economic system that will rule its own kingdom.
But when it comes to governing both economies, the centralized banking cartel will only have control in their hands! They will not allow decentralized currencies to become so strong that they threaten the existence of the current system!
Bitcoin is certainly a reserve currency for altcoins but I don't see it happening for fiat, even in the future! Bitcoin is not designed that way to become a reserve currency and our centralized system will not allow this to happen.
I don't think that will happen. Because it is a decentralized system so it is quite impossible to make it as a reserve currency.
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?
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?
Bitcoin could become reserve currency if bitcoin price always increasing and reach $1million dollar. Bitcoin is digital gold and bitcoin proven as good investment and bitcoin security very high and hard to hack.
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?
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?
Based of my observation about the capasity of bitcoin to become a currency in the world.Yes it could be true that someday bitcoin replaces fiat money because today bitcoin is very popular and their are some other progressive country are now using bitcoin as their payment. And they like to use bitcoin and this could be the reason that the existence of bitcoin will cover all over the world.
As you know that nowadays bitcoin already accepted in some country. In those country can used for transaction. But we have to faced that some country also prohibit bitcoin because of so many reason, such as security reason, legal and policy, bitcoin is not a real money and etc. If we want bitcoin accepted in all country and become international currency, we have to find the solution.
Yes, since bitcoin is the most widely accepted in crypto currency I think it is possible that it can be a reserve universal currency and no doubt about the technology on how we are going on that because blockchain technology is almost a perfect design in terms of data holding, transparency and security what crypto needs to develop is only the speed of transaction and the availability of machine everywhere like our widely used electronics transaction the ATM, and if if all establishment adapt bitcoin then bitcoin is already a reserve currency used to purchased for goods and services that we can use in our daily needs.
Maybe it is possible but at least not in 5 or 10 years from now. As many countries are still not aware of the usage and systems of bitcoins it is not possible in near future that it will become a reserve currency.
Bitcoin has the ability to be a currency of the world, however there is much more study and thus every country should be unite and pay attention for this matter that will it be made currency of the world or not, if not it only stays as it is, a online money currency and if it is approved by the governments in all of the country to be as a currency, surely many of us feels great and happy about bitcoin industry.
Increasing the popularity of Bitcoin. I think its popularity will increase further as well as increase the number of its users. But it will be in its own place. And the US dollar will be in its place. Because it is the digital currency and the dollar is real.
As you know that nowadays bitcoin already accepted in some country. In those country can used for transaction. But we have to faced that some country also prohibit bitcoin because of so many reason, such as security reason, legal and policy, bitcoin is not a real money and etc. If we want bitcoin accepted in all country and become international currency, we have to find the solution.
I personally think it is not possible that the bitcoin will become reserve currency of any country. Most countries are still did not legalize the cryptos. So, there is no hope that bitcoin will become reserve currency for any country sooner.
Bitcoin is one of the major crypto currency with the strong net work systems .It has the specific features which are enables to the global investors to attract bitcoin for their various usage.Bitcoin is revolutionized the global economy in various aspects such as a good media for the transactions, as an investment tool, good for the day trading,, for the on line shopping, also suitable for the service bill payments etc. Due to its wide usage it become a reserve currency for the global usage.
With all the advantages I think bitcoin is not only a reserve for the global currency. even in some countries bitcoin has become the main option for payment. when they don't bring cash and debit cards. they will think of using bitcoin. and in the future of course bitcoin will be increasingly used. bitcoin will be more than just a reserve Jump to: