Bitcoin Forum

Personally In short, yes, I do believe we will transition towards it and hit a lot of walls along the way while we find acceptance and mass adoption but I believe we’ll eventually hit a point where most of those walls become insurmountable and that’s when the alternatives start to show up..

We’ll start to see various coins battling for the top and it will almost assuredly be an amazing time in our world.


Either way, we’re in for a ride and in the mean time, those individuals saying we’ll hit $50,000 on Bitcoin are not wrong. We’re already on our way now.
I suppose not investing Bitcoin means losing free money everyday. Soon I will see my mother shopping with Bitcoins And i believe world will have a single currency that is Bitcoin.

no

it will not become a global currency, i will become just one of many pow token cults,

and they wont be very popular or successful as well

no one but bitcoin miners and owners have an interest supporting it. anyone else has to live with the burden of electricity wasting and internet propaganda from it. so there will be constant opposition

bitcoins popularity only existed because people wanted an open financial market.

bitcoin as global currency would mean a world like this: the picture is called "the pethahash trillionaire"

https://i.imgur.com/tJxLvfm.png

IMHO, Bitcoin does not qualify as a currency. It is more of an asset and a medium of exchange.

Is the value of bitcoin stable, of course not. The unstable value of bitcoin will be a risk if bitcoin becomes a global currency. You can see, the decline in bitcoin this year has made many people frustrated because of the losses they face. Well, if bitcoin becomes a global currency and there is a decline like this, then the economy will fluctuate.

Yes, I really believe that digital money will be the future and of course bitcoin is digital money that will be used throughout the world.
You don't need to worry about the future of bitcoin because in modern times digital money is money that is used so you don't have to worry if you want to invest for the long term now.

the idea is that "owners" become a larger and larger group over time, as mass adoption takes over. after a certain point of market acceptance, the naysayers can't avoid it. just like they can't avoid the gold market. if it were purely up to governments, there would only be fiat money. instead, governments have gold reserves among other assets.

the jury is still out regarding mass adoption, though. ;)


isn't that proof enough that demand will continue to exist for bitcoin? what can provide open transparent p2p markets without third party/government intrusion, and do it better than bitcoin?

The challenges of cryptocurrency like internet access might be the hedge but definitely, I will say yes to the topic :
Does Bitcoin have a place in the future of finance as a global currency?


I believe you mean surmountable... I might be wrong though.

The days are not far when btc will be accepted as a global currency.Only thing is the regulation has to fall in place before that happens and in no time we will see that as well soon.But the main thing is people will accept btc in various usages once it goes through the regulation and also worldwide acceptable feature will enable its momentum more and more.Lets wait for what its gonna provide to the users in future.

Its hard to say. if there is no fluctuation, and bitcoin not used as "take profit and leave" tool, it is likely that bitcoin has its place in the global currency. bubble and fluctuations become a frightening specter for investors because things inside can disrupt economic stability if it continues.

Yes, Bitcoin has a very good place and also has a very bright future to be applied as a digital financial system. The use of Bitcoin which has increased at this time has proven that Bitcoin has a lot of users and now we are all in the stage of development. Gradually, it will create an digitalization ecosystem in the world financial system. Bitcoin can be a perfect system and is very possible to be used in everyday financial transactions.

I sincerely think its time we come out of the shell, and call a spade a spade, bitcoin stand no chance in becoming a global currency, it can only serve as a substitute.
Bitcoin has usability limitations while local currency don't, and this is why fiat currency will always be ahead of bitcoin.

I can't predict it, because it is a very unreal thing and I think Bitcoin won't be as a global currency. It is not easy to be a global currency. Bitcoin has millions of fan but bitcoin has millions of hater too. Already 20 Big countries banned bitcoin, it is too volatile, from 20K to 5800 USD proved many bad sides of bitcoin. How can it be a global currency? We love and live with bitcoin, not the rest of the world.

I think it's difficult for bitcoin to be a world currency
because not all countries currently agree with the existence of bitcoin or crypto

Clear and simple,  imagine buying 2pack of chocolates with bitcoin worth approximately $5, going back the next day to buy same chocolates the shop keeper now tells you that, the amount on bitcoin you used in buying chocolate yesterday can no longer get You one chocolate today how will you feel? Crazy!

Come to think of it,  can one actually buy a chocolate with bitcoin? Considering the transaction fee attached to it.

There is an in my opinion rather obvious incentive for states to own bitcoin reserves. States will always want to own reserves of something neutral to hedge against other states failures and their own failures, theirs an endless variables and thus reasons you want something neutral.

Turns out that now we have bitcoin as a gold substitute. Some may argue that it isn't, but the longer bitcoin survives the bigger the incentive will be to hold it.

I don't think the positives of bitcoin vs gold need to be mentioned again and if you can't see them for yourself then think harder.

As far as mining goes, it's a competitive market, monopolies come and go.

It needs to become other things - asset, store of value among others - before it can become a currency. And even then because it's designed to be deflationary hardly anyone will want to use it as a currency if they have an alternative.

In certain strata of society other things are as good as currency but will be roundly rejected by others not in the know. When I used to hang out with scumbags pot was as good as money. That wouldn't really work paying your electricity bill. That could be where BTC ends up.

Yes, I also think in future bitcoin act as a global currency but there will be some regulations of government because without regulations any government will not allow bitcoin to act as a currency.

i disagree. "hitting a wall" is not going to make altcoins rise up. altcoins need to be good and useful in first place to be able to rise up and sustain that rise.
as an example you can look at something similar that happened last year. bitcoin started having higher and higher transaction fees. that was one of those "walls" you are talking about. altcoins started getting pumped because of it but then they started showing their real faces with all the problems that surfaced because of that small increase in their usages. and now as you can see they are all going back down to their real low values because they couldn't sustain  it.

I feel sure about the future of bitcoin. i think bitcoin will soon be accepted as a global currency

Bitcoin may not YET replace fiat, but it already is a global currency. Real economy will reside with what constitutes, the productive class –that means, the people who are actually doing the real work. And it is a fact that bitcoin already is being used worldwide as a store and exchange of real world value. Bitcoin is already functioning as a world reserve currency.

no. because bitcoin is the most appropriate asset and medium of exchange, because until now bitcoin cannot be a global currency

It is impossible to exclude the option that bitcoin will take its place in the global economy , the potential is very large in bitcoin so it is likely that it will become a world currency

Football club Juventus issues its own crypto currency. Soon UEFA will comment on this event. Japan legalized crypto-currencies and issued licenses.

Soon the whole world will switch to bitcoin

Definitely so, but bitcoin and altcoin need more time to grow! At present, is still the first phase of the development process!

Bitcoin has trouble in terms of transactions per second--it is not going to be sustainable when it becomes mainstream in the future. The miner fee might be too high too. It needs to be more scalable first to be used as a global currency.

I think yes bitcoin has a potential in the future to become a global currency. Because i believe the ability of bitcoin, they can do it, difficulties is no barrier.

By global i would would half agree. There are countries like venezuela who are struggling with their own currency and need something like bitcoin to take over and help the people

no one can predict the future, but as for my personal opion- probably. it has a 60-40 shot.

It is possible, because it is now widely used, in the future it is even more known. I have a great belief that one day it will become a global payment unit

Well in one sense bitcoin is already a global currency, it can be used by almost
everyone around the world to pay for certain goods online and depending where
you are in retail shops. It can be used to send funds to somebody else around
the world.

Bitcoin does not have any borders.

what I think is that adoption of bitcoin will continue as it has been so far and we eventually will reach a stage (we can call it mass adoption) where bitcoin is used by a large portion of the world and is used in a lot of places.
and that means by that time bitcoin has found its way in every aspect of economy and since it is already a global currency things will work splendidly.

as for "alternatives" bitcoin doesn't have to hit a wall for them to show up. they showed up in early days of bitcoin and have been showing up ever since. we have a lot of interesting innovations if you put aside majority of the top 50 coins since sadly the way we sort coins is not based on their technology but based on how big a pump they can get and their market cap.

I don't believe it is a 'currency' class, however I do believe it has its place in the future. As to what that place is, I am unsure, but it will still be around in some way, shape or form

Moreover, I read somewhere that in the near future a person with 1 Bitcoin will be a millionaire. So you can believe or not believe in the cryptocurrency, but when you withdraw your crypto from the wallet, leave there just in case, a little satoshi. But what if!

I hope that Bitcoin will become a world currency in the future. unfortunately it will happen not earlier than in 15-20 years

Maybe It will happen because we have some lot of tokens and altcoins Is also good experience in crypto maybe in the future one of them will overtake bitcoins price but no one can say.  ???

Our world needs a new currency that will be independent and convenient for international payments. And bitcoin may well become this currency, its technology is very successful in this regard. And we have to use it.

Bitcoin is likely to become a world currency. There are a number of prerequisites for this, now it is decentralized and people in any country in the world where there is access to the Internet can have it in their assets.

   In my opinion in the future central banks that embrace Bitcoin will have an advantage for some time but in the long run that's equivalent to digging your own grave. Central bank's complex schemes will never beat a p2p money!  8)

I am looking forward to the year when my country will officially accept bitcoin as a currency and I will be able to freely use it for its intended purpose. It will be very convenient for everyday use and especially for international financial transactions.

Bitcoin is a very interesting technology, with a great prospect for the future, and most importantly - it can be used in real life. And this is the most interesting-it is not just an investment, but a technology that can be actively used in everyday life.

I look forward to the moment when the world officially recognizes bitcoin as a currency and begins its widespread use. This will greatly transform modern Finance system. And also, it will be very convenient for travelers - they need more e to think about exchangers.

Well, in my opinion, bitcoin has a good financial future, especially to send money from one country to another using bitcoin and that is needed in terms of transfer speed.

everything has started to switch to digital
technology every day always grows
then the existence of fiat money will soon be replaced with digital money
in this case i'm sure that cryptocurrency will replace fiat money
in the future carrying paper money is no longer efficient, people will prefer to use smartphones for shopping

It may, but not as a legal tender like fiat. Governments may recognize Bitcoin as an alternative mode of payment or a digitized currency but not as legal currency due to its decentralized nature. To become a global currency, Bitcoin will have to be declared by governments as legal and become centralized...which at this point seems impossible.

I think it will be quite difficult to organise this. Bitcoin is more likely to be as a medium of exchange. Perhaps they will be able to pay in some global transactions. But replace the Fiat money he is unlikely to succeed.

Yes , bitcoin have a place in the future of finance as global currency , that will be realized if the world and the world banks will accept and give the cryptocurrency , a part of financial and economic part of every countries world wide

possibility to change fiat currency i think is still there, but not in near future. it still takes a long time and a long process. and i think if it can replace it, it will certainly affect global economy