Will Cryptocurrency be a Global Currency in the Future? - page 3.

Botnake

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Quote from: sherenikaw on October 19, 2021, 06:03:29 PM

We don't know what will happen in the future but I think it will be difficult because every country has their own currency and it is difficult to be removed. although crypto is a digital currency that is developing well, it cannot compete with the currency of a country. but keep in mind that although crypto is not the currency of a country but crypto really helps us to invest in it or transact. Fiat and crypto currencies both have their own benefits and policies.

Even at the present, i really think that its a hard process for crypto to be a global currency because aside from being decentralized, its volatility will also create a barrier not to be adopted by majority of the countries. El Salvador may have succeeded having bitcoin as a legal tender but we know how tough it was in the start. There may be a lot of protests i guess that will certainly happen because they don't want crypto to be a global currency.

However, when it comes to crypto matters, i guess it all relies in the government itself. Even if we, citizens, are thinking that it would be a great idea making crypto as a global currency but if the government won't allow, then maybe we should just settle having crypto as a reserved currency and as an investment.

TelolettOm

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Quote from: syedakhlaque on October 16, 2021, 10:10:26 AM

Will Cryptocurrency be a Global Currency in the Future?

The answer is yes
Because right now, Cryptocurrency especially Bitcoin has been also used as a currency in some certain countries in which Bitcoin is legal tender as currency.
However, will it be for all countries?
I don't know enough, for we know that many countries still ban crypto and most of them don't legalize Bitcoin or another crypto as a currency of their country. Most countries have their own fiat that is centralized. But cryptocurrency is decentralized mostly.
that is why not all countries may use this as a currency.

But once more, we will not know what will happen in the future. Let's wait and see.

Quote from: syedakhlaque on October 16, 2021, 10:10:26 AM

Moreover, It has equal chances for poor or rich for development.
This currency has brought a revolutionary change in the world of business and trade.
It promotes a positive activity also.

Making crypto as a currency is not as easy as this. There must be a regulation over the crypto that will be used as a currency. We cannot only use it for payment. Most countries will make certain regulations of using crypto as currency. ANd this may be complicated. And the government will also think that it will be difficult and hard to control the use of cryptocurrency if as a currency or payment.

But actually, this is not impossible. Because we know what happens to El Salvador and other countries that have been implementing this.
But it may be difficult enough as what happened in my country and others probably.

sherenikaw

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We don't know what will happen in the future but I think it will be difficult because every country has their own currency and it is difficult to be removed. although crypto is a digital currency that is developing well, it cannot compete with the currency of a country. but keep in mind that although crypto is not the currency of a country but crypto really helps us to invest in it or transact. Fiat and crypto currencies both have their own benefits and policies.

Marvell1

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With the development of crypto today, it will certainly become a global payment method in the future with the conveniences and conveniences it brings be it bitcoin or any altcoin or CBDCs created by the government. It will not be able to completely replace fiat but it will grow strongly in the following years.

syedakhlaque

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BTC being a global currency in cryptocurrency is real, but not for the world. because what I see if it becomes the world's global currency it will be difficult because now not all countries approve of bitcoin and recognize bitcoin as one of the global currencies

Although there are many problems and difficulties in travelling Bitcoin. But this is satisfied that its popularity acceptance & adopting is increasing day by day. The legal process is also continuing towards betterment. It has crossed many limits of borders and this process continues successfully.
If we look into fifty years befoe, then no one can say that the invention of the computer and then internet development will make this world a Global village. But today you can see it has happened. So there is also the possibity that crypto may be a Global currency in future.

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Quote from: Mpamaegbu on October 19, 2021, 09:25:39 AM

Yes, I acknowledge that and I certainly know that whenever records would be made of inventions that took the world by surprise, Bitcoin will have a mention. It's a great phenomenal. However, we also have to note that not everyone thinks Bitcoin is anything special. I'm not referring to the hypocrites in the banking section who want to FUD on Bitcoin or the government of China; I'm talking about the genuine illiterate folks. Hopefully, some day these ones will come to terms with what Bitcoin is and the inherent good from it.

Some people who don't think of bitcoin as anything special are people who don't really know bitcoin. they only know the name of bitcoin and don't know what the benefits are in it.
Bitcoin is a future asset that will be contested by many people, but to be used as an asset or main payment will be very difficult because the pros and cons of using bitcoin will continue to exist. Bitcoin is an optional digital asset that can be chosen and other altcoins will receive the same treatment.

geegaw

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BTC being a global currency in cryptocurrency is real, but not for the world. because what I see if it becomes the world's global currency it will be difficult because now not all countries approve of bitcoin and recognize bitcoin as one of the global currencies

The world is an ocean full of kings with powers that rule different lands, a small boat like bitcoin when it wants to cross such borders, it needs to prove it from many angles, from a legal perspective to being useful and not causing side effects for users, there are many small doors and regulations to go through, it's not easy to become a standard that circulates around the world. Failing to fulfill such roles, attempting to cross sensitive borders, is easy to become targeted and asked to be removed.

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Quote from: syedakhlaque on October 16, 2021, 10:10:26 AM

It has an attraction for all ages of life. It has a great opportunity for those who want to do something and desire to step forward.

It's the same attraction paper money has too for all ages too. Anything that makes people's lives easier gives them a level of attraction (attracts them). That attraction from Bitcoin isn't anything different if you asked me, though Bitcoin's attraction is majorly occasioned by curiosity. It was curiosity that attracted me to Bitcoin, and I guess it would be same for most people here.

Quote from: syedakhlaque on October 16, 2021, 10:10:26 AM

This currency has brought a revolutionary change in the world of business and trade.

Yes, I acknowledge that and I certainly know that whenever records would be made of inventions that took the world by surprise, Bitcoin will have a mention. It's a great phenomenal. However, we also have to note that not everyone thinks Bitcoin is anything special. I'm not referring to the hypocrites in the banking section who want to FUD on Bitcoin or the government of China; I'm talking about the genuine illiterate folks. Hopefully, some day these ones will come to terms with what Bitcoin is and the inherent good from it.

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BTC being a global currency in cryptocurrency is real, but not for the world. because what I see if it becomes the world's global currency it will be difficult because now not all countries approve of bitcoin and recognize bitcoin as one of the global currencies

Bitcoin has no doubt that it can be a global currency in the future. Its features are well established and can really cater to the fast changing technology that we are experiencing right now. But knowing its decentralized, i think it will find a hard time getting its approval from most of the countries' governments. Althought there are already quite number of countries who are thinking to adopt it later on, but there is still no guarantee that it will certainly happen. While fiat will always remain as a main currency, but crypto or bitcoin's future is still uncertain up to now.

GeorgeJohn

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Quote from: syedakhlaque on October 16, 2021, 10:10:26 AM

Yes, It can be expected that cryptocurrency will be a Global currency in the future.

Bro it's very clear that cryptocurrency have gain ground all over the world because of its advertisement and how influential in terms of services via investment and transactions purposes, i can equally says that it's also a helping hands to accumulate a financial capability if handled with a determination, but the aspect of becoming a global currency, i think it will take year's or century if really it's existence will be up to that before it will become a global currency, really no country that will like to abandone their fiat currency and adopt exchanges with cryptocurrencies, it's obvious that many countries never legalize the adoption of cryptocurrency especially bitcoin fully in her countries.

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Quote from: Rehan Zakir on October 18, 2021, 02:30:44 PM

Yes. Due to the massive increase in popularity of Bitcoin currency. Now, Bitcoin currency becomes the future global currency that can be used from any country of the world.

That is what we're thinking of but who knows, right? Might it happen or not, people still continued to support Bitcoin and the entire crypto market. I believe it was not necessary to go to that point as Bitcoin will remain Bitcoin no matter what will happen as it was because we can't assure that all people will force themselves to understand this and going to adopt this.
But what I'm seeing as the obvious possibility to happen about Bitcoin is becoming the global gold digital investment.

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Quote from: syedakhlaque on October 16, 2021, 10:10:26 AM

Yes, It can be expected that cryptocurrency will be a Global currency in the future.
The BTC will be the father coin and there will be a lot of sub coins.
Cryptocurrency is a unique kind of currency that has great potential.
It has an attraction for all ages of life. It has a great opportunity for those who want to do something and desire to step forward.
Moreover, It has equal chances for poor or rich for development .
This currency has brought a revolutionary change in the world of business and trade.
It promotes a positive activity also.

Well, isn't Bitcoin a Global currency already? I mean, Borders pose no challenges whatsoever; Governments can't do much against it as it is accepted everywhere in the world including in countries that have criminalised its use such as China. Why shouldn't we consider Bitcoin as a Global Currency?

Rehan Zakir

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Yes. Due to the massive increase in popularity of Bitcoin currency. Now, Bitcoin currency becomes the future global currency that can be used from any country of the world. And the most unique thing is that it is borderless. We can send or receive this currency from any crypto currency wallet through a internet

CrySmile

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It is hard to say whether bitcoin will become a world currency in the future, but judging by the regular discussion of such a prospect, it is quite possible. In this regard, I, like any sensible person, transferred some of my assets into bitcoin. I keep some coins in a hardware wallet and some coins in a free online cryptocurrency wallet. I believe that nowadays, everyone has to think about the future and buy at least some cryptocurrency to have reserves for a rainy day.

King Raymond

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What you mean by a global currency is what I don't understand. Do you mean cryptocurrency will be the main currency worldwide, or do you mean cryptocurrency will be accepted all over the world? If you mean the latter, I will agree with you. But if you mean the former, i doubt it will ever happen.
Finance and global economy is controlled by government. This does not comply with the essence of cryptocurrency which is decentralization and autonomy. Government as we all know does not give permission for what it cannot control.

Alert31

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It depends on the country if they want bitcoin to be their currency like in Brazil but most countries doesn't like it to happen because they don't have full control over it. Government just allowed bitcoin as investment but in order to benefit this digital currency you still need to exchange it first into fiat currency like here in our country before you can use to buy although there are some personalities and stores that accept bitcoins payments directly but still limited.

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Quote from: Sled on October 17, 2021, 10:03:13 AM

Quote from: Ararbermas on October 17, 2021, 09:47:38 AM

Nope because as you can see there's still some of the countries that don't want this kind of technology to implement as a legal tender because of some reason.. Wherein only ELSAVADOR did that, for me even in the future it's too hard to tell to be honest in my personal opinion,. maybe adaption but not as a legal tender wherein only a digital asset.. In fact we don't know if there's a chance as well some of the country will make their own digital currency in the future like what happened to China, because for them it's a good idea than what crypto currency we have right now in the space.

If we just take a look at this time, it was our presumptions that it won't happen. But being considered as a Global currency I think it won't need all the countries that will participate, that might have some exemptions as we can't force others to take the risk. But what I'm thinking, having been accepted by the majority as their mode of payment aside from fiat, I think we're in that position.
Maybe 10 years, 20 years from now, I don't think if China won't change its mind if all developing countries will adopt this new technology.

From this point of view, as an alternative to fiat or co-existing with fiat I think also that we are near to that level, Currently Bitcoin still on the stage that it's mostly treated as investment or asset than a tool for payment transaction, but because of those many institution and businesses who adopt this system, the process of being accepted is no longer far to happen.

Maybe the timetable that you provided is enough or long enough for this to take place. We really don't know just hoping that it will be considered by more countries as the same as how you think of it.

maju69

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Quote from: DoublerHunter on October 16, 2021, 04:45:50 PM

Quote from: maju69 on October 16, 2021, 04:31:03 PM

There are always two sides to support for the future of crypto in the future, first the opposition who will always prevent it all from happening, then the CBDC which is certainly a reference when a country wants to enter digital money. so it is possible that only a few countries will definitely use Bitcoin as the main payment. Not far off as it is today. Except all countries really have other interests behind it all.

^ As the main payment?
Remember that there are too many currencies that can transact online and it could be cryptocurrency is one of the best alternatives to them. If we are talking about BTC, yes it could be but if we are talking it generally like cryptocurrencies including altcoin, theoretically, I must BE said no, just only for BTC.
However, if you don't mind BTC was now considered a global currency, it is widely used now in most different countries and I think we almost happen that BTC can be used worldwide in a different transaction online, but not as the main payment method.

I've also said a few meaning that not all of them have Bitcoin as their primary payment. But every other country still makes alternative payments. Isn't it very clear between the alternative payment and the main payment?
For example in my country, Bitcoin is an alternative investment, but it can also be used as an alternative payment with fellow users.

Sir Legend

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I knew bitcoin about 8 years ago and the hope to make bitcoin a global currency at that time was massive, but many experts and bitcoin users were pessimistic, but after seeing the facts of bitcoin today, it's certainly not a difficult thing to make bitcoin a global currency that unites the world. in single currency.

dansus021

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maybe yes and maybe no , but crypto acceptable as asset or other invesment maybe yes.

if crypto become global currency who come first will stable coin backed by government in my opinion

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