Topic: Would Bitcoin become The General Currency in the Future? (Read 586 times)

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.

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.

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.

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.

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.

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.

Isnt this less a limit and more a dare? Faced with hurdles, Bitcoin' resilience and the blockchain' adaptability have shined

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?

I think that what the world needs right now is a hard currency, a currency which cannot be printed whenever politicians find themselves in a problem and they use this feature of fiat to try to get away with their mistakes.

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.

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.

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.

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.

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.

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.

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?

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.

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.

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.

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.

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.

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

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

We need a new standard and decentralized currency like bitcoin, but the government doesn't need that. They are the ones who control this world, so they will never let bitcoin become the new standard of world currency.
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.

Your skepticism is valid. Breakthroughs like Bitcoin often face initial resistance. However, Bitcoin's mission is to provide an alternative to traditional currencies, not replace them. Yes, worldwide acceptance seems a high peak. But arent we already scaling? With nations and businesses acknowledging Bitcoin, its widespread adoption is foreseeable. Indeed, Bitcoin's fluctuation and regulatory hurdles warrant attention. But they're not unbeatable obstacles. As crypto markets mature and regulations solidify, expect increased stability. As for the existing financial structure, transformation is a given. Maybe not soon, but eventually. Bitcoin is in no hurry. It's here for the marathon. Keep cool and HODL on!

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.

Bitcoin would not become the general currency in the future if you ask my. My opinion on this as I have always stated is that bitcoin has a higher probability of being a reserve currency than a general currency. Bitcoin is will still in the future be used as an asset or investment vehicle, rather than a mainstream currency. But since no one can see the future, bitcoin's growing user base, which could reach 100 million or more may increase the probability of it becoming a widely used currency. Another factor that may improve this probability is when  transaction fees becomes lower and  lightning network addresses the volatility and scalability issues of Bitcoin, making it more viable as a currency.

Define me "general". It's already the dominant Internet currency. If you meant "global reserve currency", then time will tell. If Bitcoin continues maturating as it currency does, and fiat currencies continue collapsing one after the other, then yeah. That's a reasonable guess.

I'm not sure that bitcoin will become a general currency globally considering that Satoshi created bitcoin not for that, but as a digital currency that complements the current financial system. moreover, it seems that the government will not allow this to happen, because it will certainly threaten the existence of the fiat currency they have.

Regulation and government are not the only things that could possibly stop Bitcoin from becoming a global currency—I mean, an entire country's currency. To me, it was never built to ever serve that purpose. In as much as the 21,000,000 limited supply was a result of it being limited and scarce to reach everyone out their 1 Bitcoin to one person in an entire population, That same feature is another thing that could also be considered one of the reasons why Bitcoin could never be a country's currency.

Bitcoin is too small to serve such purpose it will never be enough for everyone to use it at same time. The higher increase in demand for it will definitely put it at a price where the majority of people might not be able to get their hands on it, and most people will not want to release the one that they are holding, which will make it relatively scarce in the market.

And remember, Bitcoin is not just any country's local currency that doesn't have a limit, so its government can just wake up and increase its supply. The supply is fixed, and it can't be increased, at least to the level of my knowledge.

For now I'm skeptical about Bitcoin being able to replace it as the world's currency and I think it's a natural thing. Even though Bitcoin has experienced very good growth from year to year but there are several considerations that need to be taken before we can predict whether Bitcoin will become a world currency in the future.

One of the things that might be taken into consideration is that there must be adoption of bitcoin as a whole to replace the world's currency. Even though now there are several companies and even countries like (El Salvador) have started accepting Bitcoin as a form of payment, there are still big challenges in encouraging the adoption of bitcoin among the world community that must be considered as well as issues such as price volatility and of course regulation in every country. country is still a separate obstacle that must be overcome.

Besides that, there are also other issues that must be considered, the world's financial system has been running with conventional currency, this has been around for decades now. Replacing the Bitcoin currency as the world currency will definitely involve complex changes and of course take a very long time. Therefore, I think that in the near future it is unlikely that bitcoin can replace the world's currency, but it is also possible that bitcoin can replace the world's currency along with technological developments in the future.

We can't say actually about the future of Digital Currency like Bitcoin. Because to be a general currency Bitcoin needs to be legalized by every government and mass adoption needed.
But practically almost every governments are against of it. As it's decentralized so no one can stop using Bitcoin. So it needs pretty much time to be a general currency in the future and it's uncertain too.
But I think most of the governments will be against Bitcoin because government will lose controls, problem with tax regulations and funding for crimes.

Even becoming a currency, a payment method is difficult, becoming a general currency of the world is even more impossible. Indeed, given bitcoin's volatility, I find it more suited as an investment asset than a currency. Not to mention, it is a decentralized asset, so governments would never accept a currency they cannot control as the world's general currency. I don't know if the future will change, but based on what's happening, I don't think bitcoin will be the currency.

If you asking a possibility, the answer is always yes because Bitcoin can be used to store a value or currency and no one can hack Bitcoin.

But the possibility is very low because the government can't 100% control all of Bitcoin and there are still many countries ban Bitcoin. Only few countries are accepting Bitcoin as a currency, so it's still a long path for Bitcoin to become the global reserve currency.

No i don’t think that. Because bitcoin is father of all cryptocurrency. All cryptocurrency created following Bitcoin. Bitcoin is top of all cryptocurrency. It’s Technology is different from others. And it created it position to the moon. It is quite impossible bitcoin will general cryptocurrency. Bitcoin is Leading currency so it always lead  others cryptocurrency. Some general cryptocurrency made by some Company and some people and they control it But bitcoin is fully decentralised and no anyone controlling it. And it never possible to control by any people or any government. So many country and their government don't approve Bitcoin. In the last i tell that there has no possibility to be a general cryptocurrency for Bitcoin. It always be a Leading cryptocurrency there has no confusion.

Bitcoin is a popular digital currency out there and until now we all believed in Bitcoin, Personally, I can see a lot of potential in Bitcoin to become a future currency, I mean it runs on the internet and a lot of transactions these days are already done online, also there are a lot of advantages on using online transaction and it avoids a lot of problems of fiat money.

Still, even though there are a lot of advantages to Bitcoin I don't really think it made to become the general currency around the world, I mean I don't think there will be a currency that the world can use or are we even going to use just one currency in the future? I think not. For me, Bitcoin is a great cryptocurrency but because of its nature, having a volatile market price I don't recall thinking it's going to be capable of becoming a currency that we use daily on our transactions I mean there are a lot of problems on that, I think it is the best for investment and only for investment at this point, surely when we used it on a transaction or in a business that one taking the Bitcoin is investing already since he's not really going to sell the Bitcoin the time the transaction was made.

It will not and let's keep it that way as long as there are governments trying to put into stop into Bitcoin. See how every KYC out there becomes like a pain in the ass just for the sake of compliance to the authority that regulates the usage of crypto? Yeah imagine if almost every single method of being able to use Bitcoin out there now requires KYC and you're not allowed to do P2P or else it's jail time.

It's going to be co existing for sure with fiat money just like how bank cards do.

There were plenty of threads about this back in 2017 about replacing fiat money so surely people already knew the answer that time.

the potential is there, as some countries have also accepted bitcoin as a payment alternative, so i think with the development of time, bitcoin may have a chance to become a recognized currency.
It's just that, the current fact still makes bitcoin more likely to lead to investment than money. besides that, quite a lot of countries prohibit bitcoin as a payment alternative because bitcoin does not have a centralized system. Whereas we know that if the system is not centralized, it is difficult for the government to accept it, and the government has many reasons why they cannot accept the concept of decentralization.

I doubt Bitcoin will be like THE currency for the world. In that I don't think it will ever displace national currencies and become the one currency for humanity. Simply because govts/central banks are not going to give up the immense control and power that a national fiat currency gives them. All fiat currencies will continue to lose value, and some might eventually collapse, some nations may eventually collapse due to the burden of an avalanche of debt, and some of these may choose to go with Bitcoin after that happens, but I don't ever see a time when all the govts in the world abandon national currencies for Bitcoin.


Much more likely Bitcoin is the world's alternate currency. People will use Bitcoin alongside their national currencies, sometimes spending bitcoin something spending fiat, usually saving in Bitcoin of course though, but still saving a basic emergency fund in fiat just due to bitcoin's volatility, even though the volatility will eventually be fairly low once bitcoin is mature and global adoption has been reached. Some places may almost exclusively use Bitcoin, but I expect this to not be the norm.

Besides, in terms of utility for people, fiat currencies (or their stablecoin counterparts) have the important utility of remaining relatively stable. Certainly more stable than Bitcoin ever will since it is not tightly controlled and manipulated by a central bank to remain relatively stable. The world needs relatively stable (though inflationary) currencies, and so the world will continue to use these currencies. But what that world doesn't provide is a hard non-controlled currency which humanity also needs, and that is where Bitcoin comes in. At full adoption, I'd say the highest Bitcoin could reach is something close to 50% usage/ownership compared to all national currencies combined, as the highly used alternative currency for humanity, but I don't see it ever reaching 100% use.

Bitcoin doesn't need to be the general currency for the whole world in the future all I want is the survival of Bitcoin and the overlook of the government on the digital currency to make it more acceptable by the masses in the future.

Enough of the centralized entities and the government trying to control Bitcoin they should start planning to accept Bitcoin and also gave the people the go-ahead signal that Bitcoin is not a dangerous digital currency because I believe that majority of people are waiting for the government to give them the okay sign before they can start investing in something like Bitcoin.

Now that the ETF looks like something that could work out, maybe the way people look at Bitcoin will be different soon.

Bitcoin have stayed up to 13 years since it's created so I believe that will have something like domination when it last up to 50-100 years, in another comment where respond to a similar discussion like this, I made my suggestion to be clear and understanding that Bitcoin can't take over traditional currency and I gave my reasons there, why I said so is that Bitcoin have not gotten enough backyard across the nations because Bitcoin is battling for some certain things that you don't know well.

Day by day the use of money will decrease. Now almost everyone is trusting online exchange. Bitcoin is the most popular currency online. We all know that Bitcoin is not legalized in any country yet. Bitcoin is a platform that is very easy to transact online. You don't have to wait in line like a bank. If Bitcoin is legalized in all countries, its use will spread very quickly to everyone, the effect of which country can't predict. When Bitcoin is launched, everyone will do transactions through Bitcoin. Bitcoin payment system everywhere. If there is then everyone will pay in Bitcoin. Bitcoin is still the number one currency. I think that in the future Bitcoin will take over the whole world if it is legalized. But I am still worried about whether Bitcoin will be legalized.

But even EL Salvador's adoption of Bitcoin the world already let Bitcoin being used in many countries though there are no formal adoption like what that country did,
what I mean here is that Bitcoin already dominating the online money system (at least in some part of the world) and with that we can see the potential of being the main currency if the world continue its acceptance and the discrimination and the FUD will stopped , government only need to accept the fact that crypto is the currency of the future.

Bitcoin as a new form of currency have gained acceptance in some part of the world. This means there is no legal support from all the countries. To achieve legality from all the country will take lot many time. It have got adopted as their currency in El Salvador. They're bold enough to make the decision. Every country won't do it. Compared to the past now people were able to spend bitcoin directly. Over time the transition will happen when governments start understanding the real potential behind bitcoin.

As you have said, money evolved from various forms till this point were we are now. Currently, we are at the digital stage and as time goes on, new discoveries would emanate making some forms obsolete.

Bitcoin is currently the new form of money gaining recognition and according to the whitepaper it is the peoples orientated money whereby no one has control over it. Satoshi invented it and handed it over to the masses to use it as their alternative source of payment which many bought in the idea and since then, millionaires been made, bitcoin is been accepted by nations, businesses etc are thriving on bitcoin and gradually, bitcoin is becoming more popular and stronger.

 After El Salvador's adoption of bitcoin there is an another country that has adopted it which is the Central African Republic but the El Salvador's adoption is not popular than the Central African Republic adoption. Since after the adoption of bitcoin by Central African Republic I have not heard any news from them. Bitcoin being the last currency in the world is not possible but it will be almost but it will still be as the alternative measure to the fiat currencies. If bitcoin will be the last currency in the then they have to print the hard copy of the currency because not everyone can use the internet to buy and sell. What about the age and the old group of people. Though that is the highest expectations of the youths in the world but they have to think of others as well.

 Everyone in the crypto space would wish for this to happen at the moment but there are many challenges that's made this almost impossible to archive even in the future. Bitcoin is a decentralized currency and the government especially (U.S) would not see it'success being used as general currency.
 The government won't want a currency beyond their control, cause bitcoin can't be manipulated just like the fiat currency and moreover there are very few people currently that have a good knowledge about bitcoin including the barriers of mining it as well.
 Though it's likely to be but there a lots of work to be done before it's accepted globally where as the sole aim of satoshi was it to be used as an alternative to fiat as a means of buying and selling and also to remove third parties that are required to conduct digital monetary transfers, well only time would tell if bitcoin would be the currency of the future.

It depends on what you mean by a general currency, if you mean the currency governments use as the reserve currency of the world then I do not think this is likely, as governments will do everything in their power to avoid this scenario happening.

However if by general currency you just mean that people will use bitcoin on their everyday lives and that bitcoin will be accepted in a great deal of businesses around the world then I think this is something which may actually happen, it is just that it will take us some time before it does.

For me now, it's still difficult to say that Bitcoin will be the "general currency" I can say maybe it will be just an alternative to what we have now because we have a lot of issues right now on Bitcoin, especially the volatility.
About El Salvador, it seems that when they started to accept Bitcoin as a legal tender, it seems it is successful and effective. El Salvador will just need to overcome some obstacles including price volatility and adoption.

No.
I already posted about this here, but if you'll look at Bitcoin sentiment right now, people don't even consider it as a currency anymore. Everyone sees it as an investment and an asset to trade.

Besides, it's obvious that something that is as volatile as bitcoin, just can't belive in general currency. People will never use a currency that can drop 5% a day.

So it looks like that Bitcoin will just keep being an asset.

Bitcoin could become the generally acceptable currency since it won't have any restrictions, you can spend it in any countries you travel to without having to exchange it to the countries local currency. Bitcoin is borderless but it'll have a very strong challenge from the government. Government won't make bitcoin a global currency because they can't control it and the governments loves controlling our finances because it give them power over us..

They'll use excuse of Bitcoin been use by criminals to avoid it been globally accepted. The government mightn't openly support Bitcoin but we can make it a globally currency by accepting it in our shops and when every body does that, the government won't have any choice but to accept it too.

The majority of the governments needs to accept it as legal tender if we have to call it accepted currency which might take long as some may put restrictions on usage while some regulate the usage.But fiat will be more used in that time also along with btc but yes adoption will eventually rise but if we say main mode of payment then it's hard because many treat it as investment not a currency where the usage percentage goes down as compared to currency usage.But anything can happen in future as we are not certain about it.

Fortunately governments doesn't have to embrace Bitcoin for it to succeed. If using bitcoin for physical store payments gets banned, then bitcoin will be some sort of like "underground cypherpunk gold" or something — which is fine by me.

In the near future? No, not quite yet. There are still numerous preparations required for Bitcoin or cryptocurrencies to become the currency of the future. So, it may take another 5 to 10 years. But hey, let's wait and see. Time will unveil it all.

The government would not allow such a scenario to unfold; they prefer centralized currency where they hold the reins of control. It is understandable that the government is hesitant to gamble on a currency that is beyond their jurisdiction. This undoubtedly has a significant impact on their economy, as we are all aware that Bitcoin doesn't come without its fair share of drawbacks, rendering mass adoption implausible.

- Volatility: Bitcoin's fluctuating nature poses risks for long-term holding, resulting in potential gains or losses when compared to fiat currencies.

- Transaction fees: Although they may not be expensive presently, who can guarantee that we won't witness another dust attack?

- Transaction speed: With fiat currencies, we can purchase food within seconds, whereas Bitcoin transactions take several minutes. This becomes highly inconvenient when transactions start to pile up.

- Internet dependency: While internet access has become widespread, Bitcoin is heavily reliant on it. In areas with limited internet coverage, Bitcoin would face difficulties.

- Infrastructure requirements: It is unrealistic to expect elderly individuals on the street to utilize electronic data capture (EDC) devices for transactions.

To other Bitcoin enthusiasts, it is said that the time may come when Bitcoin will become the world currency worldwide, but of course, this remains speculation because there is no strong basis to confirm that this is true.

In addition to that, right now what Bitcoin brings to the countries that recognize, it is that it helps the economy and is also an opportunity for the majority of communities that believe in it.

In reality, the current level of accessibility is still lacking, and uneven for every user. some remote areas of the world still do not enjoy proper internet access, even the supporting infrastructure is still lacking and has not even been built.
This will affect how many users or adopters of Bitcoin because it requires an internet network and of course electrical power to turn on the cellphone or device used.

Of course, the government will not give full space to digital currencies such as Bitcoin to become the main currency for payment.
This is against the government, they must be able to regulate everything while Bitcoin cannot be fully regulated.
Bitcoin is decentralized, no one can change it.

Regulations will be given by each government, different governments will have different regulations.
There are those who strictly prohibit and say bitcoin is illegal and there are those who provide regulations only as commodity assets.

Of course, there will be many obstacles and it is still impossible for Bitcoin to become a common currency in the future.

We must be quite satisfied even though the regulations do not fully support Bitcoin, but at least there are still some gaps for Bitcoin to develop.

Such tendency always exists. It's mainly because we would love to use a currency that is free. Meaning, free from the poor judgements of whoever has power over it. Bitcoin is that currency. It is under the control of nobody. It is shared by everybody across the globe.

But the problem is that there is also the tendency of those who are in power to take everything into control. That includes the currency. Since Bitcoin is something they can't control, they'd love to use another currency. This is the problem.

So I think there will always be this struggle against each other. At best, Bitcoin will stay as an alternative alongside fiat. I think I'm good with this.

        You forgot that some countries took some risk when they integrated an additional alternative payment / settlement option in the form of crypto projects into their financial system. I don’t know how this “experiment” will end, but it is already in our reality, and not in 100 years or more.
         Naturally, none of the "managers" wants to lose control over cash flows, but the modern world dictates its own rules of the game. The time will come when there will be no such systems of government as there are today.

Before that happens, there must be an agreement between all countries. They have to agree to use Bitcoin as the common currency used worldwide, and people can transact using Bitcoin and fiat.

But it seems that it's still waiting because the countries in the world are still in a position of discussion even though there has been an agreement to use BRICS among several countries that don't want to depend on the dollar anymore. And it is possible to use Bitcoin as a currency that can function as fiat, especially since we know that Bitcoin can cross borders between regions of the country without any problems.

So when people want to transact using Bitcoin, it depends on the price conversion of Bitcoin to fiat in their respective countries. The important thing is that the number of Bitcoins is the same for all countries.

Government is very skeptical to bitcoin so for sure it is still a long way ahead for bitcoin if it really replaces the fiat but one thing that I've sure in the future is that it would be cashless future on which paper money or coins are not existing as we are just paying possible using a phone, QR code or somewhat using a card which it is almost the same with bitcoin. As of the moment, it is still difficult to implement the payment system as a ton of governments don't like it and have even banned it.

Theoretically speaking, yes there's a chance that it might be, but what are the chances for it to happen? I'm not saying it's impossible, but the chances are slim to none.
There are 2 factors that might affect this. Accessibility, and Government.

What does the word "general" mean? It means all people, or most people. Now how many percent of the people around the world have smartphones? How many percent of the people around the world doesn't have an access to the internet? I mean the point is the accessibility of Bitcoin around the world is low that only those who have smartphones are the ones who can access it. How can a currency be a general currency if not all people can have access to it?

Another one is the government. Do you think that government will just allow it to happen? No because governments want to use their power to the extent, and that includes even the currencies. IMO, there will always, and always be against this especially in the government.

Overall, this is still far from happening, and knowing that Bitcoin is still only 13 years in existence, it's too early to think about it TBH.

Yes, bitcoin can become popular worldwide, and the government will not be able to stop its growth nor prevent people from using it. But for bitcoin to become the world's general currency, the government's consent is required because they are still the rulers of this world. Bitcoin is decentralized, and governments hate it, so I don't think bitcoin will ever become the world's universal currency. But with the rise of bitcoin, it is almost sure that it can become a global asset just like gold.

This is a big dream but it is difficult to realize at the moment, the adoption of bitcoin as a unified global currency around the world will not appeal to many corrupt political leaders and the chief economists associated with them, because they want to maintain centralization and control.

The adoption of El Salvador and some other poor countries for Bitcoin does not mean anything, because these countries are poor and do not have a significant impact on the global economy, so the adoption of these countries for Bitcoin does not mean that we are heading towards global adoption.

I think this step is very far, as long as the major political forces in the world oppose Bitcoin, led by the United States.

bitcoin is a digital currency and there have always been people making payments using bitcoin, but only a few.
and in my opinion now many people are using bitcoin as a future investment asset, I think more people are making bitcoin as an asset rather than making bitcoin as a means of payment, because not all countries and governments agree that btc is used as a legal,
and in my country btc is only used as an asset, and the government prohibits making payments using bitcoin.

so in my opinion no one will know about bitcoin in the future whether it is used as a means of payment general or not.

It's actually premature to say that crypto is the next step, because it hasn't replaced fiat money, it's merely an alternative system that tries to do so. History knows many failed attempt to innovate, including innovation of money. For every new step in evolution of money there were many failed attempts. It will take a lot more years to make any conclusions about crypto, but so far it's clearly not replacing fiat.

Bitcoin will be popular and used globally is almost certain.  but as you said, people are getting into bitcoin and using it as an investment asset, there are very few who consider it a currency. And the OP's question was that bitcoin could become the world's common currency, so I really doubt it.  moreover, it will all depend on the government, and I don't think the government will agree to a decentralized currency to replace their fiat.

I believe Bitcoin will be widely used globally in the future. Going back to 2021, investors are investing in cryptocurrencies, and the price has risen. As a result, ordinary people began to take an interest. Since Bitcoin has become popular, some businesses have begun to accept Bitcoin as payment for their goods. I felt it was a good start, but the price rapidly dropped because institutions were selling their Bitcoins. This event, I believe, has an impact on businesses that plan to take Bitcoin as payment. To boost Bitcoin adoption, I believe volatility should be reduced.

The revolution would continue, it's time for the blockchain era, it has also shown the world its benefits as a technology but Bitcoin will not be able to be the world's dependent currency. The general name "Cryptocurrency" would do more though, but the world would ensure more safety and accountability in using it going forward.

El Salvador has shown the world about Bitcoin's legal tender possibility, thanks to them. But do not forget that they are not depending on it alone, they only make it a legal tender. This doesn't stop them from spending their dollar along with it. Also, Bitcoin has a limitation if the world should embrace it, it has a limited supply of 21 million BTC and the world can't fold to solely use a decentralized system. The economy would collapse by virtue of this.

IMO the chances are very slim that government make Bitcoin a global currency that replaces fiat, it's difficult to mix it up the decentralized and the centralized platform we know there's always a conflict.  Traditional currencies, backed by central banks and stable economies, provide a level of stability and trust that Bitcoin has yet to achieve.

I think let's accept the fact that Bitcoin was created to alternate traditional currency not to replace them.
There are too many barriers that Bitcoin has and it's unlikely to become what you wanted OP.

I agree, whether Bitcoin become a general currency in the future depends on the government's decision.  The main turn-off of the government to Bitcoin is its decentralized nature.  This simply means no authority from the government which the government wanted to have.  Bitcoin is good to be an alternative and the government won't deny that.

Not an easy task to get accepted as a general currency all around. It all depends on the governments and the governing authorities around the world. Very few countries have the positive move with cryptocurrency usage and other other needs whereas majority of the nations try to have their own CBDC. The financial system have experienced a big evolution, and we can't expect bitcoin to get the status of usage similar to general currency isn't gonna happen.

It has always been alluded by a lot of bitcoin supporters that bitcoin has the potential to be the world's leading currency, but let's face it, bitcoin is far from being a widely-used, high throughput and volume currency. It's designed to be used for transfers here and there, but never in the volume that fiat is currently being used with. I guess, there'd be a time wherein a lot of people will be using bitcoin at the same time, but not the main currency the world uses all at once. It will need an overhaul for bitcoin to be able to handle that much volume without causing too much of a delay between all the transactions.

Yes, Bitcoin is the solution.

Banking systems with third parties have no privacy, and once your money is in the bank, you are no longer in control of it, and bankers will use our money to make high-interest loans while paying us no or little interest, which is terribly wrong.
That is why Bitcoin was created to give us financial freedom because there are no third parties involved, and we can also profit if we hold them for a long period.

As a result, we believe that Bitcoin will gain global recognition and be accepted globally for the benefit of our society.

Bitcoin has the potential to be the main currency of the world because it is unique but it still has some limitations. The inconstant nature of its price will discourage people from using it for buying and selling. If the price becomes less volatile in the future people might consider using it more. Another problem will be the technological barrier. Most people don't have access to the internet or Android phones in some developing countries. They might not have access to the Bitcoin network without these technological tools.

Unfavorable government policy will also hamper the spread of the use of Bitcoin as a currency. More countries are getting friendlier with bitcoin but most developed nations are totally against the coin. Some have gone to the extent of banning it because it will limit thier economic control. A high rate of illiteracy and religious belief will impede Bitcoin acceptance and use. Most people will never stop using fiat because it is easier to use. Others might not use it because they feel their religion forbids it. I conclude by saying that Bitcoin and fiat will always exist together for now until the world gets matures for the use of Bitcoin.

I like to be skeptical about this actual thought of bitcoin being the world currency but only time can tell this, the way I see it I think its just simply an evolution that will take place in the financial sector of the world, like you said the world has evolved so  greatly from using different means of money and bitcoin to be used in a general way is still possible in some way but it will take very long but I believe it will surely happen one day.

It seems you're referring to Bitcoin as a potential global currency. However, I believe that a decentralized cryptocurrency with high volatility would face challenges in becoming a widely accepted global currency. While many people appreciate Bitcoin for its potential and the freedom it offers, I personally find it unrealistic to support its adoption as a global currency. One of the reasons is that Bitcoin's decentralized nature makes it difficult for any government to exert control over it, which can raise concerns for regulatory authorities.

Exactly... The people might all be willing to accept it but that won't be enough. Some countries will still be a major racist of the Bitcoin which will be among the reasons why Bitcoin could not necessarily be accepted as a global means of exchange between countries.

The big question is,  will Bitcoin ever become a global currency?

The answer is rather (NO) because countries around the world will not allow a decentralized currency to become the dominant currency and if you want to base your argument on the evolution and transformation of money,  to say bitcoin will gain global adoption then it may lead to a lot of frustrations since most countries are already developing their own CBDC to compete with other cryptocurrencies like Bitcoin.

Bitcoin is just fine playing the role of an alternative currency,  and only a small percentage of people know about Bitcoin.

Anyone can speculate, even I can speculate things but the question should be, is it realistic?  Although El Salvador had adopted Bitcoin as legal tender, are they using it for commerce?  I think no, I think El Salvador acquire Bitcoin as an investment and not to use as currency.

Bitcoin is great as an alternative mode of payment.  Let us be contented as that since government will not accept Bitcoin as their main currency.  They can make it as legal tender or mode of payment but the government always has limitation for BTC.

According to the evolution of money since inception, another currency may soon replace cryptocurrencies. Because the world is continually growing, there is a chance that another currency will emerge after cryptocurrencies.


It has the potential to become the most widely used money in the world, but this is dependent on each country's adoption. Not every country will want to utilize it and make it a global currency. Country leaders like to have influence over the currencies that are used in their countries. There's a chance it'll happen, but there's a much better chance it won't.

As much as we want bitcoin and other cryprocurrencies to become the everyday currency,  unfortunately fiat is one way our governments use to control inflation or generally the economy and a bit of manipulation here and there...But to say Bitcoin should replace such a monetary system,  I think it will take a century for this to happen as this is us saying our governments should give up their control!

Besides , one constraint that wouldn't make bitcoin acceptable world over are the different regulations each country has and not wanting to be controlled by another in the name of looking independent, and apart from this not all countries are up to speed with today's technology and this will need to be taught for users to know how to protect themselves online and the alike.

Next was Central African Republic and then the rest are most likely will just let it as neutral.

If legally speaking, there is a chance but can't you see that it's massively being used globally as you've made this thread? Bitcoin was already used as a payment for many countries and how much even more being used a store of value and being held as an investment by the majority. So going to legally speaking, it's highly volatile and if a government makes the use of it then there could be some precautionary measures on their end to be implemented.

This week alone this would be possible be the fifth or more time I would be seeing this type of question here on the forum. The future is important but if we think too much about the future and neglect the present then I am sorry to say that there won't be any future to start with.

I think the idea of a general currency has for long had it negative effect on the world economy, we have seen the UD dollar hold that position even if it's not the highest value currency in terms of exchange price rate.

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.

Would Bitcoin become The General Currency in the Future?

Do we even want BTC to be THE General Currency in the Future?
A Global, One-world currency where all transactions are public and traceable? Is that the best thing for the average person in the future?

There were already influencers and some users on the internet saying about BTC becoming a world reserve currency. If I remember correctly Max Keiser also believes it.
But renowned Caitlin Long also believes Bitcoin will global money and she is not afraid in expressing it, here is a link https://bitcoinmagazine.com/culture/caitlin-long-interview-on-bitcoin-banking-integration

It's going to be good for the price of BTC but it may not be good for local people who had not owned BTC their entire life. Sad to see the only coins that are cheapest for them to invest are meme coins.

I support this one where Bitcoin does have a chance but in my own opinion, the chance is low as of now because some countries banned the use of cryptocurrency but there's a country that legalized the use of Bitcoin. Op, if you think that the chance of Bitcoin becoming the general currency is high in the future but we don't know when that would be. Not because El Salvador supported the use of Bitcoin doesn't mean it will become the general currency because of what I just explained and if you did a research about the countries that banned from crypto and countries that doesn't ban crypto then you will know.  The only thing I can say is the same as the quote above.

If you're asking if there's a chance — then theoretically of course there is. It's just the question of will governments allow it to be a dominant currency of their respective countries.

Although this question might have been asked a couple of times here on the forum I would suggest you search on it to read other people’s view. As for me my opinion is same as the other replies up. Bitcoin was create to be an alternative and can’t be general currency. Although it has all the features that would solve the problems faced by traditional currencies the issue of volatility is still a concern for some people to accept it as general currency most especially the Arabs that see this a gambling thing. The government also has shown in all aspect that they are against something that they can’t have authority on and the anonymity associated with bitcoin will certainly make it add for them to get their ways like the fiat currency.

Also in the past there have never been a central or general currency, the only one that came close was the dollars and with the way USA is using it get more political power so will others want there currency to be.

I don't know how others view it, but I don't think it will ever be. No matter the amount of adoption that Bitcoin will gain, I don't think it will ever be enough for it to gain such acceptance. There will always be one or two governments that are against it and, as such, won't want to accept it as their international payment option. So I guess it's a big no. This is just like asking if Bitcoin is going to replace a country's world currency, which I recently elaborated on in a recent thread.

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.

 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?