Bitcoin Forum

If it were the case that the main currency of every country in the world is Bitcoin. Then how do you think the world economy would be run? Because when Bitcoin becomes the main currency, the American dollar and other countries will have Bitcoin as their main currency. The local currency of that country will be associated with it as the second currency. In this case, how would Bitcoin be used or how can it play a good role in the world economy?

Something similar has already happened in history. Only instead of bitcoin, gold was the main currency. The second currency can be considered silver. From history, you can imagine what the economy would look like in such a case. No technological innovations every year, no development. Limited production for limited demand. The compression of lending to microscopic sizes, the absence of financial markets... This is the world before the era of world travel.

The modern financial system was born, in fact, from the moment when gold and silver poured into Europe from new lands (similar to the injection of money into economics under monetarism), then, with the creation of the Federal Reserve, the financial system became a "child", and then it became an "adult" with the abandonment of the gold standard.

And in this system, gold and silver have become commodities rather than currencies. That is why bitcoin is also a commodity in the modern system, not a currency. Another question is that financial capitalism is finite. In the meantime, bitcoin as a currency contradicts not only monetarism, but also Keynesian economics. If capitalism is replaced by another form of social order, then perhaps bitcoin will have a chance to become a currency in the new financial system.

Will it ever be the case? I do not think so. Even though countries of the world decide to then accept Bitcoins and then adopt it as a currency they would never abandon their original currency or make it second to Bitcoin. Bitcoin will only be gone an option something as a second currency that would offer a choice to citizens in terms of use.

I don't think that it doesn't have to go that way, that if Bitcoin becomes a global currency, every country will accept it as a legal tender. It doesn't have to make the other fiat currencies to be boycotted and make people stop using it. From what we can see, it's going to be as simple as an alternative payment method and currency, just as it is intended to be. The best comparison would be like this:
Before, the merchants and cashiers are going to ask you, cash or credit?
Now, it's going to be, cash, credit or Bitcoin?

We must make our self clear with concept of centralised vs decentralised Bitcoin. The majority of governments don't have liking towards decentralised bitcoin. The Bitcoin adoption we see in some countries is a centralised bitcoin that goes through centralised exchanges and provide government necessary info to tax the custodian. Even if decentralised Bitcoin overcomes his problem of scalability and high fee it won't be adopted as centralised currency of the country because government don't have the ability to control and manipulate it like the centralised fiat currency.

There is no need to imagine there because it is an impossible thing to happen seeing that the government is more concerned with securing their currency which is more influential on their economy than prioritising accepting Bitcoin as their main currency. Moreover, the function of Bitcoin itself is an alternative to the centralised fiat system issued by the government, which gives freedom to its users without any intervention, one thing that is hated by the government. And that's why the government is so strict about regulating Bitcoin and prefers to treat it like modern-day digital gold, which can provide long-term profits, rather than as a currency that can be used for transactions in general.

It can't and people who think it can replace every other currency are badly misinformed. The bitcoin network could barely cope with all the transactions that took place daily in a small country with a few million people. It's not even that efficient when it comes to transaction fees and there is too much volatility in the fees to be reliable - I don't want to pay 1% transaction fees one day and 5% the next, when banks can already offer more consistency. The best to hope for is a place and it's probably better if it's not officially sponsored, where it can serve larger transactions of say $500+. There are niches which it can be very successful in, like cross border trade - currency exchanges combined with bank fees can be brought down.

Firstly Bitcoin wasn't created to replace traditional currencies it was created as an alternative currency, something different from what we're used to. I don't think that traditional currencies can be eliminated because they're the identities of countries, except if the whole world becomes one global economy. That is where Bitcoin can be considered as a unified global currency but I doubt that something like that can happen. Again Bitcoin wasn't created to make any economy better, it is a store of value for anybody, institutions or government that holds it. It's a decentralized digital currency for those that enjoys their privacy, those that are avoiding fiat inflation and those that wants to make profit because it is a valued asset.

The more genuine question should be what if Bitcoin gets legalized in every country of the world and gets accepted in all countries of the world? That would be a dream come true experience for most Bitcoin lover and then one will not worry about the centralized systems and one will not always have to rely on centralized systems.

But, who knows if that becomes a reality one day then in order to buy or keep Bitcoin one might have to get permission from the governments and also one may have to declare the wallets that could be used to keep Bitcoin. The centralized system won't allow everyone to be free from the bondage of centralization and thus they will do something by then if Bitcoin becomes fully regulated and accepted in all countries.

I had an AI write a white paper on how to use crypto for transactions in any fiat currency with tax savings in mind. Since crypto ETFs came out their value seems to accurately track the underlying coin. The problem here in Canada is that any profit made when actual bitcoin is sold is capital gains taxed.

I will paste links to the PDF output from a few PDF sites. All the PDF are the same in case one site doesn't download for you. If a mod knows how to insert a PDF then feel free to do so and delete my links.

I have recently sold all my bitcoin, about CAD$100,000 worth, and bought 3 bitcoin ETFs. https://imgur.com/FLUGlOJ The prices were down that day, July 4, because NYC was closed but the Canadian markets were open where my funds are. My TFSA is maxed out for 2025 and my RRSPs will be beefed up before the deadline for 2025 depending on my income for the year. I finally retired for the 2nd time on July 2nd. They may still drag me out of retirement, as I have a while yet before I turn 65. I only made about $1400 'day trading' bitcoin in June. I have pumped up my margin and hope to get back to the $3,000/month target I made a few times the last time I retired. Since my day trade account is offshore, I only pay tax on the funds I bring back to Canada.


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You made a good point here and again Bitcoin was not also created to combat with any other currency or our fiat and beside both curency has their purposes and functions, of course you're right, traditional currencies can not face out completely because even as adoption is taking place globally, we still have some individuals that don't and won't believe in Bitcoin no matter what you tell them, another thing is the government, government of many countries differs in decision making and I don't think any of this nations will want to face out their traditional currency to replace it Bitcoin that has not been made handy beside Bitcoin is a digital currency, an asset, an investment and means of transaction, Bitcoin was created to give individuals hope especially those that are fade up with financial institutions and want to seek for alternatives way to add value to their money.

It will be too volatile. We’d be buying tissue paper for a different price today than tomorrow. It could be cheaper or more expensive tomorrow. The government won’t be able to control bitcoin to fit the situation. If they need to adjust their currency, they can’t do it. The demand might be too high which would drive the currency upwards and would make it more volatile.

It cannot happen because of 3 reasons.

1. The world is not run under the same law for every country to adopt bitcoin as their national currency. Some small countries might recognize it as legal tender (like El Salvador) and it won't be wide spread.

2. Bitcoin network is not capable of nor designed to handle large number of transactions that can answer 8 billion people!

3. Most important reason is that the way economy is designed, it is impossible to have a limited supply currency to have a place in it. This broken deign demands unlimited fiat. So unless that changes (which is a fundamental change that nobody is willing to make and nobody has introduced any alternative) it remains impossible to integrate bitcoin into it.

Yeah, this!
I think that the issue should be firstly solve of what if the network is spammed just like what happened with Ordinals and BRC20. The fees would tremendously high and everyone wouldn't want to spend that much for fees if they're only paying for pennies.

To make Bitcoin the currency of every country, we must fight against the regulation of the Fiat currency first and that is not possible at all can be done by most countries. With so many countries in this world, my question is enough Bitcoin is used as an official currency by all existing countries. As an assumption of chaos that occurs worse and the economy of the poor country will continue to be depressed at the inflation stage which is quite widespread because they are unable to compensate for the amount of Bitcoin ownership because there is no money available to buy some steps to achieve a more developed economy.

The concept is simple to buy in large quantities, the country will become stronger in economic terms if Bitcoin becomes a currency from all countries. Then how for poor countries that cannot afford to buy bitcoin in a minimum number of limits, whether they will get out of economic problems or instead place them on far more worse economic problems and I don't think Bitcoin was created for that.

I should simplify my post #10 to fit into a future using bitcoin for daily transactions. First there were shells, then beads, and then livestock etc. Then came copper/bronze coin. Gold was the longest lasting standard until the early 70's. US.gov gold value is pegged at $42.2222 for 261,498,926.2 troy ounces. The price was set by The Gold Reserve Act of 1934 ($35.00), which made it illegal to own bullion, and then adjusted by Congress in 1973 when the US left the gold standard. Between 1934 and 1973; US dollars were actually paper gold that made transactions easy and legal. If they sold that 261M ounces for $3500 they could buy 9M bitcoin at $100,000, or almost 1/2 the future total.

The current 'paper bitcoin' are ETFs. They should evolve over time to only a few of the best. Just like the Swiss franc and the US dollar did. Blackrock holds 3.25% of all mined bitcoin, and total ETFs hold a over 6%. These numbers go up and down with ETF inflows and outflows. Investment companies are sized by AUM, assets under management. This means they are managing actual coin and we, as ETF owners, actually control it. This was all laid down by the SEC when it approved bitcoin ETFs in Jan/2024. Governments should enable their bitcoin reserves to perform similar to ETFs. Issue shares and the share owners can use a card or app that withdraws; and then coverts to local currency at the current rate. As people 'cash' their ETFs at the end of the month to pay most bills, the price will dip. When they get paid on the 1st and 15th, then they buy back and the price goes up.

When I was paid direct deposit every Friday, the funds would transfer between about 12:01 and  2:00am. Everyone would run tabs at the bar and pay at closing; or use credit cards if they left before 'paytime'. Since ETF markets don't open until 9am local then the prices should 'pump and dump' every Friday morning on ETFs and therefore bitcoin. Volatile still, but at least it will be predictable.

I have three different ETF: iShares Bitcoin ETF - CAD, Purpose Bitcoin Yield ETF - CAD ETF Non-cur Hedged, and Evolve Bitcoin ETF. IBIT was was my 1st because it had a good rep. I then went to BTCY.B because it pays average 11% yield/dividend in monthly instalments. On July 3 my payout was CAD$1,295.12. EBIT, I just bought after it was too late to buy BTCY.B for the July 3 yield.

BTCY.B holds bitcoin but exercises 'covered call' options. https://www.investopedia.com/terms/c/coveredcall.asp (https://www.investopedia.com/terms/c/coveredcall.asp)  It seems I only need to hold the shares for the 'record' date to get the payout about 10 days later. On July 23-25, I may convert more shares to BTCY.B and then convert back after my ownership is recorded.

Paper like the Confederate dollar and German mark dove badly after they lost wars. Collectors still have 5 trillion Mark stamps issued by Germany in 1923. ETFs can't do this because the law states they need digital gold (bitcoin) to back up their digital money (ETFs). Since paper money is only used by criminals now (hookers will take plastic) we will never see paper bitcoin; it will be replaced by ETF cards, tap apps, etc.

The economy will be in shambles, many funds will not be accounted for, and the government will not be able to enforce so many seizures. Bitcoin wasn't wired for the economy but to complement the disparity in financial flows, give more privacy and to make people have the true rights over their money.

This will not happen. The US and many other countries will not allow what they can't control to be their national currency.

Bitcoin cannot be the number one currency in the world  to used by all, because it's decentralized and no government will accept it since they will not be able to control it. Government only embrace what they control and that's why they came up with fiat currency where they are in charge to do the printing of fiat whenever they want.

However, due to the increase in value of bitcoin overtime, majority of people holding bitcoin wouldn't want to use it as a currency but as an asset in order for them to make profit from it in future. If there is fiat as the second choice of currency, why will I use my bitcoin to pay for goods and services. the world is centralized and a centralized currency will always dominate.

It's going to take so much for one to actually see Bitcoin on this brighter side and I doubt there will be massive adoption of the currency by so many countries cause they all have different opinions and mindset and how they conclude on them. Besides we aware that overtime the adoption of Bitcoin has caused so many misunderstanding within and outside and if the government of any country can see the benefits and procure massive adoptions then there's possibility for it to play a better role in the country.

never happening.

btc has a long term issue  as it will run out of coins too soon.🔜

shame as it is a good invention.

most of us will die before the lack of mining rewards causes the switchover to doge.

the reality is doge is better for world wide currency due to an endless supply of coins and an endlessly shrinking rate of inflation.

Definitely agreed that bitcoin can not be the central currency in the world and my main reason is the total supply and of bitcoin, although it can be divided into smaller units (satoshi) it still wouldn’t be enough considering that those holding will be keeping the hold of theirs too and that will limit the supply in circulation more, so having it as main country’s currency will not be looking possible in my perspective,

As for using bitcoin as payment method I don’t think it has any reason why it shouldn’t be used, this is not by any chance going to affect you holdings, one can simply have a some bitcoin holdings and then some more bitcoin for payment, it doesn’t change anything.

Adding to what you said Pooya87. Bitcoin lacks that unified legal status, no country is going to give up control of their local currency. In fact Bitcoin is highly volatile, almost double in a year and then half the next. We cannot predict what it could be this time, tomorrow, and next.  Bitcoin makes it untenable for salaries, mortgages etc. Lastly, the global economy depend on how flexible the monetary system is. The central banks of every country adjust supply to manage crises and debt. A currency like Bitcoin could freeze it. This is not what Satoshi intended if not he would make it so. It is meant for those who are ready to own it.

Spending btc is stupid  as fuck so far.

Buy and hodl works.

Buy and spend is doing the other person a favor.

If you want to know what would happen to the world economy if bitcoin became the primary currency of every country, you can go back in history and look at the world economy when the gold standard was in place. I think they are the same.


In my understanding, the gold standard economy has more disadvantages than advantages, such as lack of flexibility in monetary policy. This can make it difficult for the economy to develop and may lead to a prolonged crisis and recession...Or over-reliance on gold supply will cause the economy to fall into deflation, and deflation is sometimes worse than inflation for economic growth. Or it also causes serious inequality because not every country owns the same amount of gold.

Likewise, I think our economy would face similar challenges if we adopted a bitcoin standard.

Volatility will be the order of the day and government policies and regulations can't control it so it's going to be a hard nut to crack honestly. Yeah we are optimistic to see that happen but looking at the rate at which the price tend to change and affect alot of things I think it's not a good idea to have Bitcoin single handedly play the role of the main currency of the country or the world.

It's something new may try to play more save by having bitcoin as the major portfolio we are holding before any other alternative asset or currency consideration,  in so doing, we may later include exchanging a portion of bitcoin into fiat for the smooth runnings of the economy before bitcoin acceptance for payment becomes harmonized, thing would rather be more better than ever before with the role bitcoin can play in the general and individual financial economy.

There are no such things as a "main currency" and a "secondary currency" in one jurisdiction. There are national currencies and global currencies(US dollar, Euro, etc.). If BTC suddenly becomes a global reserve asset(which is very unlikely to happen) most central banks would simply buy BTC and HODL it in their currency reserves(which would support the value of the national fiat currencies). Bitcoin would play the same role gold did during the gold standard.
Bitcoin cannot become the one and only global currency, because 1.No major central bank would allow this to happen. 2. The transaction fees on the BTC blockchain would hit the Moon. The BTC blockchain cannot handle billions of transactions per day.

First bitcoin is not a contender with the traditional currencies rather it's designed and invented on the motive of giving financial freedom to it community users.
It's not to be figured as a commodity to influence the economy rather profers financial obligations to interest of it community.
If we also look at it the other side, if countries have to adopt it for legal tenders in both acceptance of payments and services, it'd optimize the CBN and the local banking sectors to consider how they can regulate the unlimited printing of the fiats whereas, it can be scarce to an extend and then given it some values.

All of that reserve notes will loose values if not equivalent to every other fiats with it stable and efficient economic system because when bitcoin has become globally accepted, there'd be no valuable hedge on holding your assets on the reserve notes anymore but bitcoin which would play a more welcoming and accessible role to be compared to the reserve notes.
With the impression of bitcoin decentralized, the US and the USD influence on the global financial system will be shrinked as indirectly bitcoin has taken it place with the global adoption considering it also serves as assets which liquidation is more solid than every other assets.

Do you know the reason behind the name Digital Gold? I don't think you know, because bitcoin will never be a world currency, maybe a world currency in another way but it's not going be a main currency for the world. It's digital gold because is more like gold used for reserve for many countries, infact from the onset it's meant to be an alternative currency so the illusion of bitcoin dominating fiat is a facade.

It's always going to be a big deal to hold but it's not going to be a currency to be spent like fiat, the world runs in cash, debt bitcoin isn't debt so it can't be used for controling the masses. fiat is meant to keep the suppressed in a continuous suppression.

Most of us are obsessed with terms like inflation, currency devaluation and we think that if the world had a currency with a limited supply, increasing in value over time...we would be out of the current situation. I guess this is what most bitcoin investors think and that's why they always think that bitcoin will replace fiat or become a global currency. But in reality, is using a currency with a finite supply like bitcoin really good for us?

In my opinion, using a currency with a finite supply will lead to deflation and this will not be good for our economy in the long run. Deflation over a long period of time is scary, it's not as good as we think because it will make businesses stagnate, people won't want to spend much...this will make the economy stagnate, and once the economy cannot grow. How will our lives improve?

I don’t deny the fact that bitcoin best purpose right now is to simply buy and hold but my defense is that been a bitcoin investor or say hodler  doesn’t stops one from using it as a means of payment. People out it out like using bitcoin as a currency is actually going to affect their holdings and certainly I don’t see that happening except you’re taking the bitcoin from your holdings and it is something I don’t advice any one to do.

You can have your bitcoin holings separately somewhere and then have other wallet for bitcoin that you can simply use for transactions, or easily you can simply just use the Fiat currency you want to use for the payment and purchase bitcoin with it and then use the bitcoin for your transaction, this is what I do if I see that the fiat currency transaction will be a big hassle for me most especially during cross boarder transactions where the transaction fees are mostly just too high. So once I see the platform accepting bitcoin or even another cryptocurrency I simply go through this route

Since 2012- 2017

i was all p2p with my btc

Since 2018- 2023

I was a mix of p2p and hodl

Since 2024

I AM NOW HODL AND NOTHING ELSE

How can Bitcoin become the currency of every country in the world? How would people be able to pay for everyday purchases? Bitcoin wasn't designed for that usage, so it's really impossible for it to be a global currency. Even if we enforce it and even if everyone knew how to use Bitcoin, people still wouldn't be able to use it because its block size limits the number of transactions and when billions of people create a transaction in a single day, it will be clogged for months or years.

If we want to develop the world economy, we should work hard and be fair. Bitcoin can't magically boost any country's economy because in the end, it's product and the service that generates value.

The world might never have a single government because there is no single government. The United Nations, which was created to promote world peace, has failed to achieve it. I doubt if Nations will come together and accept Bitcoin as a legal tender.

Fiat will always exist because it has its advantages. Bitcoin will always need the Internet and at least a smartphone for transactions. There are people who don't have such facilities, so fiat will be the only option. Bitcoin will always be an alternative to fiat.

We shouldn't also be deceived that Bitcoin will improve the economy of any nation. A nation can still be poor even when Bitcoin is a legal tender.

I don’t think this can happen in this world because of how selfish our leaders are in almost all the countries around the world. Government always want to be in control of everything including it’s country’s economy, and the country’s currency is among them all; if Bitcoin becomes the general currency, then the world might be stable in some cases and will not be stable in many places because most of the leaders can’t go with it because there will be no control over currencies and many companies will also never agree to that.

Looking at how government agencies are against Bitcoin and crypto in some places around the world, and how some influencers and government officials are trying to use crypto and control the crypto world, it will be very hard to have Bitcoin as the world currency, many will never accept that even if they hold Bitcoin. If it happens, then the government will want to control Bitcoin and it will never be possible and that will be the main cause of the problem.

Why are you posting in a Bitcoin forum when you believe that something so stupid and insecure such as doge is better than Bitcoin?

Nothing wrong with using your Bitcoin, let people use it how they want or need to.

As soon as central banks realized that they could make more profit by printing credit out of thin air, there was no turning back.

The Bretton Woods agreement was torn up and the dollar started to be backed by itself, and then other countries, which themselves were backed by gold and possibly US dollars, followed suit.

Now, OP, do you really think that these governments want to go back to a system where precious assets back their assets, and forego their profits? They won't. So it makes no sense to speculate how they would behave in such a case.

There are two types of countries when it comes to currency. The first one uses their own currency that it prints and controls. The other uses currency of another country, like countries that use USD.
The first type will not abandon its currency because that would mean losing control and trusting a global currency that bitcoin is. A currency that can be easily influenced by others.
The second might, but even El Salvador doesn't use strictly bitcoin and nothing else, so how bullish a country would have to be to focus 100% on bitcoin?

The country’s government will not allow that to happen. No decentralized currency will be adopted as a main currency, even as a reserved currency. Unless if it shifted into a centralized one, and that the government will gain full access and control on it, then there’s no reason that it will be deprived as a main currency.

But as long as bitcoin remained a decentralized currency, this kind of scenario will always be impossible. Let’s just leave it that way, at least we have full control of our bitcoin now, and we can be our own bank with bitcoin. 

There is no need discussing something that can never happen. Bitcoin can never be the main currency of every country, the world is not governed under one government, and there is so much conflict and wars around the world, so how can they arrive at one unanimous decision. That said, governments simply print their fiat currencies whenever they want and however they want, how can they use bitcoin that they cannot control or "print".

On average, bitcoin blocks are mined in 10 minutes, that time is slow to handle all of the world's population, bitcoin is good as an alternative currency and there's no need to think otherwise.

The biggest problem here is high volatility and possibility of manipulation by foreigner nations. Imagine relying the entire economy of a country in Bitcoin. Today it's pricing 100,000$ dollars, but tomorrow it can be heavily dumped by hostile governments which also own large portions of BTC and big techs, dropping Bitcoin to 50,000$.

The impact over the economy which adopted BTC as main currency would be huge and disastrous, turning this country into an easy target for its rivals, in case it's one big potency of the world. Moreover, riots and civil war could be also possibilities.

No one in charge of an influent country would be crazy to do that.

Imagine having to not P2P all your bitcoin with that 2012-2017 time frame how high those bitcoin would have been worth now but nonetheless it is still a good accumulation tactics, early investors are seriously the diamonds hands so I do understand why you think spending using bitcoin is like hand over a diamond to someone  ;D

Nonetheless I also see it as same, there is nothing more precious that I value more than bitcoin right now, I am also stacking with DCA since it was around $16k and not looking to sell off anytime soon now.
But still I can’t do away with the use of bitcoin for payment purposes because from the country I come from it is the most easiest way to make cross boarder transactions because commercial bank charges are way much here and also the hassle is something that it a big deal here, but with bitcoin it is much more easier and faster than other options, but still this doesn’t affects my accumulation process too.

If Bitcoin becomes the major currency of every country, in countries where the inflation rate is at double-digit, it won't be that bad again. The major cause of inflation is devaluation of the currency, so it is no longer able to afford what it could previously afford. This leads to an increase in the prices of goods and services in the country. But with the scarcity of bitcoin, that won't be a problem.
Also, the political and economic unrest of the country won't affect their currency. I think it will benefit 3rd world countries the most because they are the ones with failing currencies, economies and political systems. All these are just hypothetical, though, because I can't imagine a world where Bitcoin becomes the main currency.

Also people do not understand BTC and the scarcity of it.

It is a terrible p2p system.  How about this address:

 https://blockchair.com/bitcoin/address/1JdC6Xg3ajT3rge3FgPNSYYFpmf53Vbtje

it has handled over 600 coins

 https://www.blockchain.com/explorer/addresses/btc/1JdC6Xg3ajT3rge3FgPNSYYFpmf53Vbtje


I did business using BTC as p2p from 2012 to 2021.  Using BTC as p2p does create a churning effect.
So even though the wallet moved 695 coins I never would have owned that many coins at a single time.

But still who wants to spend 0.01 btc today at 1,111 usd when it may be 11,111 by 2030

if you look at that address you can see the churning in the years 2014 2015 around 400 trans actions each year.


3d180b93d5878a546cf13eed436d79d3de8cef62323f551d25feab05c884aad5


https://www.blockchain.com/explorer/transactions/btc/3d180b93d5878a546cf13eed436d79d3de8cef62323f551d25feab05c884aad5

moved 0.1 coins at zero cost back on dec 2013


so at the time that was under 100 dollars in coin about 70-83 dollars

today it is over 11,000 dollars.

Why would anyone pay with 'money' that can go up in value from say 83 dollars to 11,000 dollars in under 12 years.

Yeah you still can do p2p but it is a labor of love to do it.

Ie if I buy this https://altairtech.io/product/bitmain-antminer-s21-xp/

 with btc it will be about 0.0575 btc

so I should go to an exchange buy 0.1150 btc

spend the 0.0575 btc for the miner and put the other 0.0575 btc in a cold wallet for 12 years.

and I would need to do this with any kind of btc spend for something no one does that. This is the single biggest reason BTC will never be good for p2p

take it from me a guy that loved the idea of p2p and got fucked (millions, but I still made say 400k)

Now when I look at the old addresses and see the churning of coin I did for hodl people yeah I do not spend btc for goods.

Doge is not designed to grow like btc grows in price it is superior for p2p.

This is when various countries has accepted it has a legal tender and are willing to use it , but as it stands now most countries leaders are scared of Bitcoin and not wanting to adopt it because they believe that Bitcoin will take over their traditional currency because of its decentralization, autonomy and mainly being a digital currency that can be used without permission, even with these that the presidents are refusing, the politicians of various countries are into Bitcoin, investing as much as they want, despite that fact, some politicians are Bitcoin friendly and they are investors and consumers that has made them indirectly moving after turning their countries into a more pro-bitcoin countries and having their foundation into a Bitcoin community .
As it stands now Bitcoin is well known globally now as a currency that can be sent and received wherever you are in the universe, as long as you have a Bitcoin wallet wherever you are even if not acceptable by your countries President

Theoretically speaking, we can think of alternative realities having btc as the main currency. However, in reality, I don't think it will happen in our lifetime. Each country will stick to their main currency and the possibility that I am thinking is just, they will develop a digital currency corresponding to their main currency. But making btc as the major one, I don't think so.

It is true that currency devaluation is a cause of inflation and poverty, but it is not the main or only cause. There are many causes of inflation, and it is a combination of many factors such as poor state management, imbalance of supply and demand, high production costs, disrupted supply chains...

Just like the covid pandemic has caused the economy to stagnate, supply and demand are out of balance...thus causing inflation to increase. Or the war between Russia and Ukraine causes oil and grain prices to rise, and countries that depend on oil and grain imports suffer high inflation due to supply disruptions.

In this case, bitcoin does not help us. The situation will get worse because the government will not be able to print money to regulate, balance and save the economy.

I've never been under the illusion that Bitcoin will become a global currency. The government will never allow that. Bitcoin becoming a global currency will mean that the value of the local currency will depreciate. Suppose people now try to convert all their money into BTC because of the devaluation of the currency,  the local currency will depreciate even more, and the government doesn't want that.

All I want for Bitcoin is for people to be allowed to use it whenever and wherever they want. It doesn't have to be legal tender or approved by the government, as long as it's not a crime to use it and the government doesn't launch campaigns against it.

At first yeah, it may seem it is but then if we think about it, there is now BTC adoption and I think there is that island called BTC-island. So maybe time will come that this obsession can go severe that they will even made BTC as their main currency. The one that you are thinking there about digital currency which corresponds to the main currency of a country have happened already. Have you heard about CBDC?

We also have stable coins and I think both have a lot of similarities. BTC even as an alternative currency, is already playing a major role on one or the country's economy but how much more if they fully embraced it? The impact can only elevate.

How do you think all of these is going to happen? Why will the government relish their local currency which they have absolutely control over for a currency such like bitcoin that they can't control as it's not centralized as fiat. While I believe it's going to be beneficial for the community should this happen, I do believe that bitcoin has already or is playing it's special alternative role already like the gold, silver and other precious metals. Government can still hold it as national reserve while they still have control of their local currency.