Topic: Will Bitcoin become the reserve currency of the world? - page 8. (Read 50449 times)
At present, one can not make such inferences and discuss such a money. Presently bitcoin is en route to getting to be, similar to the digital currency showcase with which it is firmly interconnected. Bitcoin needs to work to perfection for his legitimization, so we'll watch out for what comes next straightaway.
I do not think bitcoin will become a reserve currency because it is not accepted in some countries and it can not replace the USD as a global currency as a currency for trade and transaction.
Bitcoin cannot be a world reserve currency like USD and Euro because the value of bitcoin is unstable. Bitcoin can only be said as a cryptocurrency reserve currency such as altcoin.
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Cryptocurrency can not reserve currency, and will not happen. IT is only going to a substitute for stock.
I think that it is possible that it will become the reserve currency of the world. To my mind, it is better to have it as the long term investment at the moment and to wait until the price increases
may be bitcoin will become the world reserve currency but it happens in 50 or more years. do you want to wait for such a long time?
For the foreseeable future, I would argue no. Bitcoin is a new type of electronic money created by a software engineer (Satoshi Nakamoto) in 2009. Bitcoins are not controlled by a central bank, but rather are created by users who generate new Bitcoins when they use their computing power to verify and process Bitcoin transactions (a process known as “mining”).
The answer to the question on whether Bitcoin will become a common currency of the world turns, to me, on whether Bitcoins satisfy the three key functions of money (medium of exchange, unit of account, and store of value). It is a medium of exchange. Fees are low (certainly when compared with using credit cards), transactions can be made anonymously (for those who value their privacy).
But Bitcoins are not good units of account or stores of value. The price of Bitcoins is very volatile (over seven times as volatile as the price of gold, and over eight times the volatility of stock market indices such as the S&P 500). For example, in 2011, the price of Bitcoins fluctuated between 30 cents and $32. It rose to $255 on April 10, 2013, and fell all the way down to $55 on April 17. By November of the same year, it was up to $1125. Today it is worth about $1,365.
The answer to the question on whether Bitcoin will become a common currency of the world turns, to me, on whether Bitcoins satisfy the three key functions of money (medium of exchange, unit of account, and store of value). It is a medium of exchange. Fees are low (certainly when compared with using credit cards), transactions can be made anonymously (for those who value their privacy).
But Bitcoins are not good units of account or stores of value. The price of Bitcoins is very volatile (over seven times as volatile as the price of gold, and over eight times the volatility of stock market indices such as the S&P 500). For example, in 2011, the price of Bitcoins fluctuated between 30 cents and $32. It rose to $255 on April 10, 2013, and fell all the way down to $55 on April 17. By November of the same year, it was up to $1125. Today it is worth about $1,365.
it can happen but it takes a very long time because bitcoin has an unstable movement so it might make price movements stable and after that there are clear rules about using cryptocurrency so bitcoin can be used as a world currency.
I think that it is possible that it will become the reserve currency of the world. To my mind, it is better to have it as the long term investment at the moment and to wait until the price increases
Bitcoin has already taken the world by storm last year, but even though things have calmed a little, financial experts keep on saying how cryptocurrency will be massive in the future. These digital dollars obviously work through the Blockchain network, meaning that its continued existence is virtually guaranteed and it will have a massive impact on the world economy! Is this the time to start investing before it goes mainstream in a global scale??
Nowadays many investors use bitcoin as a valuable storage tool and in the future it may become the official currency.
This perspective seems to me quite real. Bitcoin can perfectly cope with this task, but first it needs to solve the problem of transaction speed. If this problem is solved qualitatively, then nothing will prevent it from becoming a global currency.
Bitcoin is becoming very popular every day and due to that reason of course it can happen within the crypto world if another currency won't rise in the crypto market and that is uncertain because if we look into the market there are many alternative currencies that has many potential capabilities to over come bitcoin but because bitcoin's popularity and demand still it remains in the first place and continuing to become a reserve currency
We can call it a base currency for crypto and it is the one which has high influence in the crypto world, but if we have crypto and we could use it professionally so we can make more money with it like for betting now it is using and there are online bitting in different countries where we can earn bitcoin and crypto and when the bitcoin position is not good in the market people not goes for alt coin too because of the bitcoin association with it.
We all recognize that bitcoin is indeed very popular, and various purchase transactions have been able to use bitcoin, both food and certain items. In addition, bitcoin has been widely used as an investment, where many people believe that bitcoin will provide a big advantage for them. But even so, I think bitcoin will not be able to become the world's reserve currency, because of its nature and form which does not allow bitcoin to become the world's reserve currency.
I think what exactly as a currency Bitcoin itself will not find application, but how digital gold it can become a good alternative to physical gold
yes maybe that would happen if everyone didn't spread negative hoaxes about bitcoin which made the government not approve of bitcoin entering the country. but I'm sure bitcoin will become the world currency.
this currency has a good future in the market
I think in 50 years it very possible but only if government of many countries will accept bitcoin as currency number two after usual money
Hmmm , maybe or maybe not because currently the status of Bitcoin is not very well. It's not failed, just this isn't the moment of Bitcoin so it's going down but not too long , it will be back to the game soon.
Bitcoin is likely to be like the current gold, a type of reserve asset. It is difficult for Bitcoin to become a currency. according to the needs and regulations of each country. For bitcoin to become a reserve currency, there is a need for common regulations for the cryptocurrency.
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