Most of us here would love to see bitcoin as the top-used currency in the future. But it is too difficult to predict the future especially when it is decentralized and is against what governments want which is to take control within its borders and citizens. I am optimistic though that bitcoin will become a global currency but not sure if it will become the general currency which is actually unlikely.
Bitcoin becoming a common currency worldwide is possible in the next decade but bitcoin becoming the general currency worldwide which is far from reality might become possible in many decades to come.
Topic: Would Bitcoin become The General Currency in the Future? (Read 582 times)
According to evolution of money, trade was first done with the barter system, then it evolved to commodity money using Gold and it's kind,then into metal coins then paper money, later transactions where done with plastic cards, before it's evolved into electronic money and now crypto currency.
About years ago El Salvador became the first country to adopt Bitcoin as a legal tender and there are speculations that other countries would also adopt it in the nearest future now my question is, with bitcoin being the leading crypto currency is there a tendency that it would become the generally used currency worldwide?
About years ago El Salvador became the first country to adopt Bitcoin as a legal tender and there are speculations that other countries would also adopt it in the nearest future now my question is, with bitcoin being the leading crypto currency is there a tendency that it would become the generally used currency worldwide?
It is very likely that the general use of bitcoin is going to grow over the next years even with major governments regulating crypto currencies more closely. Bitcoins offer a lot of advantages for international cross border transaction and I think that many customers will switch to bitcoin instead of dealing in their local fiat currency. The main question is if corporations would switch too into the crypto world for their major transactions. Most of the international money transfers are being done by corporations and consumers make up a small fraction compared to that. So even if most consumers would only deal in bitcoins in the future, as long as the big companies don't do the same Bitcoin is not going to be a major used currency worldwide. But if almost every consumer would use it, then the companies would have to adopt and follow the demand of the consumers.
BTC being the general currency in the future is just being speculative. Other crypto currency perform as good if not better, with better gains than Bitcoin as it already is.
The number of users might be doubled if BTC after the coming halving in 2024, performs up to expectations and shows its consistency on top.
Countries that are wanting to tax BTC now, may be the problem of it being accepted as legal tender. Unless a miracle happens and unless fiat currency no longer serves gainful international transaction successfully, then would BTC have been a noteworthy solution.
It is a decentralized currency and until Web3, A.I, become dominant, cryptocurrency or BTC is still just around the corner making a swerve.
According to evolution of money, trade was first done with the barter system, then it evolved to commodity money using Gold and it's kind,then into metal coins then paper money, later transactions where done with plastic cards, before it's evolved into electronic money and now crypto currency.
About years ago El Salvador became the first country to adopt Bitcoin as a legal tender and there are speculations that other countries would also adopt it in the nearest future now my question is, with bitcoin being the leading crypto currency is there a tendency that it would become the generally used currency worldwide?
About years ago El Salvador became the first country to adopt Bitcoin as a legal tender and there are speculations that other countries would also adopt it in the nearest future now my question is, with bitcoin being the leading crypto currency is there a tendency that it would become the generally used currency worldwide?
Bitcoin can be used in the world as way of mode of payment but seems quite different from the reality that this will be use as their primary mode of payment, each country must need to use their very owned money as their payment, and exchange into other currencies if they want but with the use of the bitcoin to adopt seems like only third world country will adopt this and not below them. Theres a lot of factor before they will decide on it and we know how does the bitcoin volatility works, each people will holding bitcoin as their mode of payment and the price varies every time and there's no consistency in their economic price if they adopt this. Imagine daily the price of the bitcoin goes up and down and expect the stores will use the fix price of the USD pairing or etc. to make it fair to them. Not all people look for the bitcoin as bitcoin still they matters on the price of it.
When governments ban Bitcoin transactions, isnt it proof of its unsettling power rather than defeat? Doesn't this spark necessary conversations and a thrust for open, decentralized systems?
It doesn't matter to us how far the government tries to ban it and it also doesn't affect the value of trust in bitcoin for those of us who have been involved. This system has brought more value of trust compared to previous financial systems, the problem is that the ongoing discussion concerns bitcoin as a means of payment globally, but at this time we still need fiat currency to make transactions.Bitcoin is used more as an investment than for payments. Doesnt this amplify its esteemed value? The trend of treating Bitcoin as 'e-digital gold' is a thumbs-up for its future. With blockchain acceptance on the rise, cant we foresee a swing in Bitcoin' use from an investment tool to a payment mode?
Currently people are more likely to use bitcoin for investment and are still quite limited regarding the use of bitcoin as a means of transaction. Big changes require a process and we never know when bitcoin will become a mode of payment globally, because until now there are still many countries that have not accepted the widespread adoption of bitcoin and we are just being more realistic. According to evolution of money, trade was first done with the barter system, then it evolved to commodity money using Gold and it's kind,then into metal coins then paper money, later transactions where done with plastic cards, before it's evolved into electronic money and now crypto currency.
About years ago El Salvador became the first country to adopt Bitcoin as a legal tender and there are speculations that other countries would also adopt it in the nearest future now my question is, with bitcoin being the leading crypto currency is there a tendency that it would become the generally used currency worldwide?
About years ago El Salvador became the first country to adopt Bitcoin as a legal tender and there are speculations that other countries would also adopt it in the nearest future now my question is, with bitcoin being the leading crypto currency is there a tendency that it would become the generally used currency worldwide?
It is very likely that the general use of bitcoin is going to grow over the next years even with major governments regulating crypto currencies more closely. Bitcoins offer a lot of advantages for international cross border transaction and I think that many customers will switch to bitcoin instead of dealing in their local fiat currency. The main question is if corporations would switch too into the crypto world for their major transactions. Most of the international money transfers are being done by corporations and consumers make up a small fraction compared to that. So even if most consumers would only deal in bitcoins in the future, as long as the big companies don't do the same Bitcoin is not going to be a major used currency worldwide. But if almost every consumer would use it, then the companies would have to adopt and follow the demand of the consumers.
It's still too hard to imagine global adoption for bitcoin, that's because governments probably don't want it.
Obviously we know that bitcoin can be used as a means of payment, but its limited use cases and regulations still hinder much growth in one country or another. Bitcoin is a very useful alternative payment solution even safer than fiat, but when one expects it to be adopted globally then of course we need a very long process soon.
In fact, I'm sure, not all users who are active on bitcoin forum want to use bitcoin as a means of payment. They only use it as a means to generate profits or more precisely as an investment asset.
Of course it is not as easy as imagined and maybe it will not be achieved globally towards the adoption of bitcoin because there are limitations that can hinder it, both through regulations and the will of the government itself. Payments using bitcoins are still quite limited and there are even some countries that prohibit payments using bitcoins openly. Even though bitcoin is really easy to use but those limitations will prevent it from achieving global adoption rapidly.Obviously we know that bitcoin can be used as a means of payment, but its limited use cases and regulations still hinder much growth in one country or another. Bitcoin is a very useful alternative payment solution even safer than fiat, but when one expects it to be adopted globally then of course we need a very long process soon.
In fact, I'm sure, not all users who are active on bitcoin forum want to use bitcoin as a means of payment. They only use it as a means to generate profits or more precisely as an investment asset.
For now there are still many people who use bitcoin as an investment and not many people use bitcoin as a means of payment. Even globally, people still use fiat currency to make payments every time they buy something they need and it cannot be denied that fiat currency is still quite needed and is unlikely to be replaced in the near future.
When governments ban Bitcoin transactions, isnt it proof of its unsettling power rather than defeat? Doesn't this spark necessary conversations and a thrust for open, decentralized systems?
Bitcoin is used more as an investment than for payments. Doesnt this amplify its esteemed value? The trend of treating Bitcoin as 'e-digital gold' is a thumbs-up for its future. With blockchain acceptance on the rise, cant we foresee a swing in Bitcoin' use from an investment tool to a payment mode?
According to evolution of money, trade was first done with the barter system, then it evolved to commodity money using Gold and it's kind,then into metal coins then paper money, later transactions where done with plastic cards, before it's evolved into electronic money and now crypto currency.
About years ago El Salvador became the first country to adopt Bitcoin as a legal tender and there are speculations that other countries would also adopt it in the nearest future now my question is, with bitcoin being the leading crypto currency is there a tendency that it would become the generally used currency worldwide?
We don't know how that is going play out now that the adoption of Bitcoin is currently in process. One of the challenges the world might face if Bitcoin is ever accepted as a world currency is the volatility. It Bitcoin the market will be more volatile if Bitcoin is used as the world currency and people would not have to bear the loses they might incur if this finally happens. What the world needed now is a stable currency that do not have fluctuation in price that will affect the market worth. The adoption of Bitcoin will determine if Bitcoin will be accepted as a world currency.About years ago El Salvador became the first country to adopt Bitcoin as a legal tender and there are speculations that other countries would also adopt it in the nearest future now my question is, with bitcoin being the leading crypto currency is there a tendency that it would become the generally used currency worldwide?
And there is little doubt that bitcoin is a hard currency, but it is precisely that characteristic what is going to stop many politicians to support it, as the power they get out of fiat is so huge that they cannot imagine a way to manage the economy and their governments without it.
It's still too hard to imagine global adoption for bitcoin, that's because governments probably don't want it.
Obviously we know that bitcoin can be used as a means of payment, but its limited use cases and regulations still hinder much growth in one country or another. Bitcoin is a very useful alternative payment solution even safer than fiat, but when one expects it to be adopted globally then of course we need a very long process soon.
In fact, I'm sure, not all users who are active on bitcoin forum want to use bitcoin as a means of payment. They only use it as a means to generate profits or more precisely as an investment asset.
Of course it is not as easy as imagined and maybe it will not be achieved globally towards the adoption of bitcoin because there are limitations that can hinder it, both through regulations and the will of the government itself. Payments using bitcoins are still quite limited and there are even some countries that prohibit payments using bitcoins openly. Even though bitcoin is really easy to use but those limitations will prevent it from achieving global adoption rapidly.Obviously we know that bitcoin can be used as a means of payment, but its limited use cases and regulations still hinder much growth in one country or another. Bitcoin is a very useful alternative payment solution even safer than fiat, but when one expects it to be adopted globally then of course we need a very long process soon.
In fact, I'm sure, not all users who are active on bitcoin forum want to use bitcoin as a means of payment. They only use it as a means to generate profits or more precisely as an investment asset.
For now there are still many people who use bitcoin as an investment and not many people use bitcoin as a means of payment. Even globally, people still use fiat currency to make payments every time they buy something they need and it cannot be denied that fiat currency is still quite needed and is unlikely to be replaced in the near future.
About years ago El Salvador became the first country to adopt Bitcoin as a legal tender and there are speculations that other countries would also adopt it in the nearest future now my question is, with bitcoin being the leading crypto currency is there a tendency that it would become the generally used currency worldwide?
At least until now we are still using fiat currency as a means of transaction and can never achieve mass adoption regarding bitcoin as the leading currency in the near future. Maybe we will see payment systems using fiat currencies will decrease and the adoption of bitcoin in the future will increase as we have seen in people's trust in investments. Nothing is impossible and if gold once was bartered in buying and selling or was the currency of its era and it is likely that bitcoin will reach that level in the future.The tendency to become a common currency that is used for the whole world using bitcoin is still not possible and needs a process to reach that stage. It's not as easy as we imagine that in the future bitcoin will become a global currency used by most countries. For now still quite Impossible?
Obviously we know that bitcoin can be used as a means of payment, but its limited use cases and regulations still hinder much growth in one country or another. Bitcoin is a very useful alternative payment solution even safer than fiat, but when one expects it to be adopted globally then of course we need a very long process.
In fact, I'm sure, not all users who are active on bitcoin forum want to use bitcoin as a means of payment. They only use it as a means to generate profits or more precisely as an investment asset.
According to evolution of money, trade was first done with the barter system, then it evolved to commodity money using Gold and it's kind,then into metal coins then paper money, later transactions where done with plastic cards, before it's evolved into electronic money and now crypto currency.
Gold had triumphed in its time and was once used as a barter system in buying and selling and then it was also used as currency. However, along with the development of the era, paper money began to be created and the previous payment system was abandoned according to its time, however, there was a process from the emergence to the end of the heyday of the previous payment system. About years ago El Salvador became the first country to adopt Bitcoin as a legal tender and there are speculations that other countries would also adopt it in the nearest future now my question is, with bitcoin being the leading crypto currency is there a tendency that it would become the generally used currency worldwide?
At least until now we are still using fiat currency as a means of transaction and can never achieve mass adoption regarding bitcoin as the leading currency in the near future. Maybe we will see payment systems using fiat currencies will decrease and the adoption of bitcoin in the future will increase as we have seen in people's trust in investments. Nothing is impossible and if gold once was bartered in buying and selling or was the currency of its era and it is likely that bitcoin will reach that level in the future.The tendency to become a common currency that is used for the whole world using bitcoin is still not possible and needs a process to reach that stage. It's not as easy as we imagine that in the future bitcoin will become a global currency used by most countries. For now still quite Impossible?
According to evolution of money, trade was first done with the barter system, then it evolved to commodity money using Gold and it's kind,then into metal coins then paper money, later transactions where done with plastic cards, before it's evolved into electronic money and now crypto currency.
About years ago El Salvador became the first country to adopt Bitcoin as a legal tender and there are speculations that other countries would also adopt it in the nearest future now my question is, with bitcoin being the leading crypto currency is there a tendency that it would become the generally used currency worldwide?
We don't know how that is going play out now that the adoption of Bitcoin is currently in process. One of the challenges the world might face if Bitcoin is ever accepted as a world currency is the volatility. It Bitcoin the market will be more volatile if Bitcoin is used as the world currency and people would not have to bear the loses they might incur if this finally happens. What the world needed now is a stable currency that do not have fluctuation in price that will affect the market worth. The adoption of Bitcoin will determine if Bitcoin will be accepted as a world currency. About years ago El Salvador became the first country to adopt Bitcoin as a legal tender and there are speculations that other countries would also adopt it in the nearest future now my question is, with bitcoin being the leading crypto currency is there a tendency that it would become the generally used currency worldwide?
It's pretty great that El Salvador adopted Bitcoin as legal tender and I am sure other countries are watching them carefully and will eventually follow their steps, but will it replace all fiat currencies globally? I doubt that's going to happen. At least not anytime soon. The Bitcoin network can get clogged up and when that happens the confirmation times is unbearable slow and the fees skyrocket. Also the price jumps up and down a lot. Plus, governments love control, and Bitcoin is all about decentralization. I think it's more likely that Bitcoin will live alongside fiat, serving different purposes. We're seeing it happen already in places like El Salvador, but for it to go global, we need better crypto systems and clear laws. Framework that will define everything very clearly so people don't hesitate to use it.
According to evolution of money, trade was first done with the barter system, then it evolved to commodity money using Gold and it's kind,then into metal coins then paper money, later transactions where done with plastic cards, before it's evolved into electronic money and now crypto currency.
About years ago El Salvador became the first country to adopt Bitcoin as a legal tender and there are speculations that other countries would also adopt it in the nearest future now my question is, with bitcoin being the leading crypto currency is there a tendency that it would become the generally used currency worldwide?
I feel like we're going in the right direction but it won't be quick nor easy, that's for sure. First of all bitcoin need more mass adoption and less volatility to be widely accepted as currency. Anyway I don't think it'll ever replace fiat currencies, probably it will be another option, which would be great anyway, that is for sure! Let's hope that other countries will follow El Salvador. About years ago El Salvador became the first country to adopt Bitcoin as a legal tender and there are speculations that other countries would also adopt it in the nearest future now my question is, with bitcoin being the leading crypto currency is there a tendency that it would become the generally used currency worldwide?
Bitcoin has the potential to be the future currency, and it is currently being utilized as an alternative currency.
All cryptovcurrencies, including Bitcoin altcoins, bankcoins, and stable coins, have a place in the global economy. Some are only used as a store of value, while others can be used as an interbank currency and cross-border liquidity. All currency will eventually be cartographic, and you will need to accept payment in bankcoins or stable coins because if you despise BTC, most consumers will likely store their money in a crypto graphic wallet on their phone with the option to
Even this is already many times discussed here but again and again same question is coming with new styles, but mostly peoples understand it's going to happen because we all know bitcoin nature is unpredictable with its use is also not easy for the many peoples and due to network issue and few other factors are also having troubles which can create problems so just because of this all its never been possible we have bitcoin as general currency of world in near future. All cryptovcurrencies, including Bitcoin altcoins, bankcoins, and stable coins, have a place in the global economy. Some are only used as a store of value, while others can be used as an interbank currency and cross-border liquidity. All currency will eventually be cartographic, and you will need to accept payment in bankcoins or stable coins because if you despise BTC, most consumers will likely store their money in a crypto graphic wallet on their phone with the option to
Many developed countries are doing good things for the adoption, but results are not coming as expectations and few countries which are facing financial troubles they are also having good view about this, but it's never been good for this to be had main streamline currency.
We assume that Bitcoin will continue to be a cryptocurrency currency in terms of the needs of each individual, because so far Bitcoin has not been created with the aim of replacing any currency, so far Bitcoin can be used in various aspects, one of which is to function as an alternative currency, and this does not mean that he will become the main currency maybe in the world.
According to evolution of money, trade was first done with the barter system, then it evolved to commodity money using Gold and it's kind,then into metal coins then paper money, later transactions where done with plastic cards, before it's evolved into electronic money and now crypto currency.
With Bitcoin being the leading crypto currency is there a tendency that it would become the general currency worldwide?
We all know that Bitcoin is the leading cryptocurrency, but bitcoin wasn’t created to become the general cryptocurrency world wide, that’s not the purpose why bitcoin was created. Bitcoin was created to serve as an alternative currency. Government won’t want bitcoin to become the general currency world wide, what do you want them to do with fiat currency which they are in control of? they can easily manipulate fiat, they can easily print more money and send to circulation, and they can easily print more fiat currency and divert it to their own personal account. But when it comes to bitcoin it’s having a fixed total supply and the government can’t control it, so am sure the government will do everything possible to stop bitcoin from beginning a general currency and that was not even Satoshi’s plan.With Bitcoin being the leading crypto currency is there a tendency that it would become the general currency worldwide?
Furthermore, bitcoin's nature makes it a difficult tender to be used as general currency. It has a limited supply and though we have minute denomination like satoshi, still the transaction fees are higher in tens of thousands of satoshi and with the frequent congestion in network, it's difficult to use them on quick exchanges. Though some secure enough altcoin with zero or very low fee can be used for the purpose. I've seen a lot of people deal with Bitcoincash in Bangkok just because it has cheap fees and are quick on transactions.
I think it's quite impossible to make bitcoin a currency that is used throughout the world. Because maybe not all countries agree to use bitcoin as currency. Maybe in the country of El Salvador adopted it but not necessarily in other countries adopted it.
Bitcoin has the potential to be the future currency, and it is currently being utilized as an alternative currency.
All cryptovcurrencies, including Bitcoin altcoins, bankcoins, and stable coins, have a place in the global economy. Some are only used as a store of value, while others can be used as an interbank currency and cross-border liquidity. All currency will eventually be cartographic, and you will need to accept payment in bankcoins or stable coins because if you despise BTC, most consumers will likely store their money in a crypto graphic wallet on their phone with the option to
All cryptovcurrencies, including Bitcoin altcoins, bankcoins, and stable coins, have a place in the global economy. Some are only used as a store of value, while others can be used as an interbank currency and cross-border liquidity. All currency will eventually be cartographic, and you will need to accept payment in bankcoins or stable coins because if you despise BTC, most consumers will likely store their money in a crypto graphic wallet on their phone with the option to
According to evolution of money, trade was first done with the barter system, then it evolved to commodity money using Gold and it's kind,then into metal coins then paper money, later transactions where done with plastic cards, before it's evolved into electronic money and now crypto currency.
About years ago El Salvador became the first country to adopt Bitcoin as a legal tender and there are speculations that other countries would also adopt it in the nearest future now my question is, with bitcoin being the leading crypto currency is there a tendency that it would become the generally used currency worldwide?
if I remember correctly the first exchange was for bitcoins to buy 2 pizzas, this could have been the first exchange that opened up other exchanges About years ago El Salvador became the first country to adopt Bitcoin as a legal tender and there are speculations that other countries would also adopt it in the nearest future now my question is, with bitcoin being the leading crypto currency is there a tendency that it would become the generally used currency worldwide?
I think we need a new standard world currency and it must be neutral, not under the control of any government and Bitcoin fits perfectly into this role. I hope it happens.
We can only hope for bitcoin to be broadly recognized worldwide without displacing fiat as the dominant form of money in the future. If it were to occur, the government that I am aware of would fiercely oppose it. Because to them, Bitcoin's status as a global medium of exchange amounts to a theft of their authority, the creation of new money in circulation, money laundering, and currency price manipulation. They know that they have no control over bitcoin, thus they won't agree to such a thing for bitcoin to be a global reality.Let Bitcoin continue to function as the alternative payment method we know it as, nothing more, than hoping the impossible to happen in the future.
The country that will oppose first is the US government because their USD is the general currency of the world, they are ready to destroy anything that hinders or wants to replace their power.
You are right, we should advocate for bitcoin as an alternative payment method rather than trying to propagate it as a replacement.
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