Bitcoin Forum

Could Bitcoin Become Major Reserve Currency?

the media is no more mainstream crap than sky
but if they are pumping bitcoin

http://news.sky.com/story/1581030/could-bitcoin-become-major-reserve-currency

moon, this month?

Well, if I was Chinese and I was a wealthy individual, I have no doubt in my mind that putting all of my Chinese fiat in Bitcoin would remain the best option specially if I was trying to avoid capital controls to get out of the country. Every other alternative is useless compared to Bitcoin. Once this phenomena goes worldwide I expect a massive price with a floor higher than the ATH.

In before the media pumping the price up to 2000$ before the end of the year.

though i do not think that even the top management teams of UK treasury or US fed reserve are very smart enough to answer this, if they were ever asked.

but sky has not interviewed economics experts, or government treasury experts..
instead they interviewed business consultants..

what has mergers and acquisitions got to do with reserve currencies..

thats like asking a yoghurt eater to explain the nuances of wine and which will be next years best wine.
simply because yogurt eater know that wine and yoghurt are fermented..

inshort..
i dont see that interview as holding any weight in regards to viable speculation.. it's just another hype&hope story

SKY News -

Brilliant, this is the kind of exposure we need. Mainstream acknowledgement I'd call it which is what we obviously need to achieve mainstream adoption.

I'm starting to get excited gentlemen.

get on the PUMP before the DUMP LOL

how are the chinese getting fiat into bitcoin exchanges?
I understand they could in past, but worries me if they can't for some time, they are just trying to recycle as much as possible within the exchnages. ei/ pump and dump

this is my primary concern, as imo they are the ones buying right now, volume is in china

joe bloggs is not even awake to bitcoin still and not considering or knowing how to put cash
thefew curious ones prob buy on ebay

if after the pump the price stabilize above 1k, i'm fine if the dump will be at 2k or 3k

it's more important to have progress than anything else

It could, but I think that it is still a ways out.  I think most of the people in the world don't like Bitcoin because no one is backing it.  If their money gets stole, loss they can't recover it, with most banks if that happens you are still covered.

most people still THINK this, even though it is not true
http://money.aol.co.uk/2015/10/28/you-probably-wont-get-your-money-back-if-youre-scammed-bank-w/

get scammed or hacked or anything else with bank, almost no chance of getting your money back

plus if you accidently keyed in a wrong number sent money to someone, if they won't return it, you can do nothing, legally
look into it

however if a bank or someone big, like utility company sent you large sum by mistake, they would simply ake it back, or arrest, you, chase you down in courts, courts would back them

people need to WAKE the f*ck up

Remember 2 years ago when media was bringing btc down to the dirt because of recent Silk Road and mt. gox activity?

Sure praise them now when it's for your self-interest.

Actually it is true.  I have had TONS of people lose money from their accounts, all have got it back 100%.  I have had illegal purchases on my own credit card, all money I have received back. 

lol, if a bank or someone accidentally sends you a large sum they are not going to arrest you.  lol. 

Exactly, this is the right mindset. Imagine you think you are being Mr Clever investor, "oh, this is the right to dump, ATH!" then you wake up with a higher price and it turns where you left was still under the new floor. That would be a wayy worse feeling than missing on the unlikely event of selling at the perfect peak. In other words: HODL

I don't understand why they use the word "Bitcoin" in their title. According to what I read on their previous articles about bitcoin, The Title should have been: "Could Blockchain Become Major Reserve Currency?"  :D

Given the current raise of Bitcoin it seems yes, It may become a major reserve currency. Many people will run to it seeing its raise, which will make it raise more!

The Chinese can get fiat into and out of exchanges without any problems. They can use third party payment processors.

The exchanges are not allowed to deal with banks directly. So the traders cannot use bank to pay and withdraw from exchanges.

I think its just a small bubble.
It might just fall to 200$ tomorrow morning.

Who knows.

i think it will just keep going until the next halving
if it will hit atleast 3k that will be awesome

Thanks for posting that, it explains the one hundred dollar price increase over the last 24 hours. That's the biggest news for Bitcoin since China stopped direct deposits in early 2014. Combined with the Sky publicity we could see Bitcoin going into the thousands of dollars soon.

I think that media is ready this time around. We are already seeing this. Even with this little run so far, compared with the last one 2 years ago, we can see many articles popping. This means that media is ready for a next bubble as well and they will just fuel price rise in this way as well.

Two years ago, Bitcoin was still not known that much, so not too many people were writing about it until we haven't breaker a $1,000.

I think once more and more people wake up, bitcoin will be the de facto world currency. I think the first people to see this will be those from oppressive third world/developing countries.

I agree it's good news on that one, but that bitcoin is becoming major reserve currency now - not so much. The very notion of bitcoin is unknown to majority of
population, so even if that is to be the case at some point in time; it wont happen any time soon, that's for sure. Would you use it as reserve with all the oscillations ? Doubt it.
Bitcoin is speculative investment in the eyes of every investor right now, but sadly, not much more than that.

Obviously I'm hopelessly warped by being on here, but how could someone not think a currency that stands far outside government and bank control, that is totally predictable in its supply and has its workings completely verifiable for all to see as anything other than a prime candidate as a financial backbone?

Bitcoins can become a major reserve currency in upcoming days by the following thing's are done.
(1) Bitcoins are started to be used by more and more people worldwide , so advertising of bitcoins in correct form is needed.
(2) Selling and buying bitcoins is still not possible easily in many countries, and not at all possible in some countries. This should be clarified. And once bitcoins may even replace fiat currencies.

Yes indeed it can become one of the top 10 major reserve currencies in the future and the signs are taking place one after another (Hopefully no downfall along the road)... here's a similar article I red in the morning that is related to the topic: Bitcoin to be the 6th largest reserve currency by 2030 (http://www.cnbc.com/2015/11/03/bitcoin-to-be-6th-largest-reserve-currency-by-2030-research.html?__source=yahoo%7Cfinance%7Cinline%7Cstory%7Cstory&par=yahoo&doc=103135027)

Actually it is PERFECT for a currency reserve. Absolutely perfect.

Even if the media get most of the statements surrounding Bitcoin wrong, it is still a step in the right direction. These last say 2 years, most articles published on Bitcoin was

80% to 100% biased and negative towards Bitcoin. The Blockchain hype is fueling better researched articles and more of them are getting the bigger picture now, than 2 years

ago. I doubt that Bitcoin would become one of the Reserve currencies soon, but after some tweaks in the development, it might stand a chance.  ???

Its the most powerful supercomputing network on the planet

http://famouswonders.com/wp-content/gallery/pyramids-of-egypt/the-sphinx-at-gizacairo-in-egypt-with-the-pyramid-of-chephren-khafre-in-the-background.jpg

I agree. It makes you wonder if they were giving all the negative press so they could buy tons of it themselves!

Indeed, even when I saw that big magazine cover with Blythe masters being hilariously wrong and the those "It's all about the blockchain" letters, I saw well, this is the banking industry having an aneurism at what's coming to them unless they start getting on Bitcoin. All publicity is good publicity at the end of the day.

Bankers will chase profit. If they think they can make good profit from bitcoin without generating their own private currency, they will bitcoin.

It is all about profit.

Bankser are buying this coin now! Everyone is dumping their alts for bitcoin. this is the time dont miss out!

BTC gets to your brain and digital nervous sistem soo its going to bang good into china and europe espect 600$ december