Could BTC ever become fast enough to function as a single world currency?

[wrxbuzz]

means 1 BTC is worth $ 3,571,428.57
meaning 1 satoshi is worth ~4 cents

Fees to withdrawal BTC from an exchange is Fee: 0.00040000
at 4 cents each , that comes out to $1600

you have officially stopped trolling and now you are spreading FUD.
here you are using an imaginary future price but use current real fees in your math and pretend it is correct.

your whole comment is full of flaws.
Today
bitcoin price is $980
fees are ~100 satoshi/byte or 0.0002 per tx
even if we assume it is 0.0004 means it is $0.39

A couple of years back
price was $5-$20
fee was 0.01BTC per tx

in the future
if price were 3.5 billion
fee would be 10 satoshi per tx

fees have changed multiple times in the past and will change in the future also.

YO JACKASS,

No one said that was price as of today.
IF BTC became the 1 world currency it would have to be worth the current Value of the World Currency.
Which is $75 Trillion Dollars.

And the numbers would be accurate.

 


FYI:
Fees will go up , Not down!

If fees go up, poor people can't afford it, the price has to be decreadsed, otherwise people can't afford the high TX price.

[WhyRus]

It is next to impossible for bitcoin to be a single world currency.
This emerged in the year 2011 i guess and now it has been only 6 years.
Also it is just a crypto currency / online currency , and there are more important currencies.
Like USD  etc. But as the world is turning digital , bitcoin stands a chance to be a part of the currency.
So although it might play an important role in digital world , it will not be a single currency.

[joshy23]

No. not fast enough to function as a single currency because not all countries around the world has not supported it yet. Bitcoin is not yet mainstream and not enough exposure as well. People are afraid because bitcoin is not "physical" not like gold or fiat. Although bitcoin is gaining a lot of supporters in some countries, is not fast enough to be considered to function as a single crypto-currency at the moment.

[Xester]

Bitcoin could be the single online cryptocurrency online but to say that it will be the single world currency is impossible. Even if bitcoin will be  used by 90% of the worlds population it will still not replace fiat currency since the government will not allow it due to its decentralized feature that are inviting illicit behaviors and activities. The highest upliftment for bitcoin maybe is that it will be the only representation of fiat currency online.

[lionheart78]

A single world currency, i like that in my dream .  Do not misunderstand me, i love Bitcoin, But government does not like it and Banks hated it and WU and moneygram envy it.  There will be lots of opposition from the centralized network of commantd (government) because economics said, adopting bitcoin will simply giving your country's future to Bitcoin whales. Bitcoin technology may adapt on the needs for the fast transaction but the problem lies on its effect on the economy of the country that accept it as main currency.


And I am more intrigue in kiklo's prediction

An Alt will take BTC place as top coin within 4 years.  
I told you just to upset you.

I have no idea what would be that alt cryptocurrency to beat Bitcoin at this point.

[Victorycoin]

All BTC companies such as coinbase require access to banks for their fiat conversion.
Outlaw BTC and the banks will sever ties with coinbase, then they can't pay their employees in fiat or keep their equipment running without electricity.
Merchants would drop it overnight, because they only care about the FIAT conversion.

Plus if the Governments really wanted BTC stopped , how many ASICS do you think can stand up to an RPG.
The answer is ZERO.

I see you are already a government mouth piece, but not all BTC companies are like Coinbase, that readily folds its tail in between its legs in servitude to the same modern slave masters than Bitcoin set out to liberate us from, likewise some merchants. You will do well to take this message to them - they woke up a little bit too late and Bitcoin is done washing their dirty linen in public. Bitcoin was not created for the fiat currencies instead from the word go, it was designed to be independent of governments and their agencies. That is where and when p2p actually resumes duty,

[Rishabh riyz]

No. not fast enough to function as a single currency because not all countries around the world has not supported it yet. Bitcoin is not yet mainstream and not enough exposure as well. People are afraid because bitcoin is not "physical" not like gold or fiat. Although bitcoin is gaining a lot of supporters in some countries, is not fast enough to be considered to function as a single crypto-currency at the moment.

Yes bitcoins is that fast enough to function as a single currency
Ya it is not a mainstream now but by seeing the growth rate of our technology we can say that in a decade or 2 decade bitcoins can function as a single currency
If everyone gets to know the profit in investing in bitcoins tgen they would obviously turn up fiats and start using bitcoins
As we see bitcoins has a great potential,
But for starting this all the companies should start accepting bitcoins, so that we can shop with our bitcoins
We need to globalise this crypto currency, people should know that though bitcoins are not like fiats physical but they are safe

[kiklo]

All BTC companies such as coinbase require access to banks for their fiat conversion.
Outlaw BTC and the banks will sever ties with coinbase, then they can't pay their employees in fiat or keep their equipment running without electricity.
Merchants would drop it overnight, because they only care about the FIAT conversion.

Plus if the Governments really wanted BTC stopped , how many ASICS do you think can stand up to an RPG.
The answer is ZERO.

I see you are already a government mouth piece, but not all BTC companies are like Coinbase, that readily folds its tail in between its legs in servitude to the same modern slave masters than Bitcoin set out to liberate us from, likewise some merchants. You will do well to take this message to them - they woke up a little bit too late and Bitcoin is done washing their dirty linen in public. Bitcoin was not created for the fiat currencies instead from the word go, it was designed to be independent of governments and their agencies. That is where and when p2p actually resumes duty,

LOL,

Hmm,
You might want to cast blame across the Pacific.
China's Government is exerting way more dominance over BTC & LTC than anyone else.
https://cointelegraph.com/news/bitcoin-price-falls-9-overnight-as-2-chinese-exchanges-stop-withdrawals

The Bitcoin price plunged by 9 percent overnight, declining from $1,060 to $959 across major global Bitcoin exchanges.
The short-term drop in price was likely caused by the announcement of Huobi and OKCoin to temporarily disable Bitcoin and litecoin withdrawals for one month.

Huobi and OKCoin are two of the largest Bitcoin exchanges in China that control approximately 25 percent of the global Bitcoin exchange market.
The two Bitcoin exchanges process around $55 mln worth of Bitcoin and litecoin on a daily basis.

In the morning of Jan. 9, almost immediately after a meeting took place between nine Chinese Bitcoin exchanges and the People’s Bank of China (PBoC),
Huobi and OKCoin abruptly disabled withdrawals for Bitcoin and litecoin funds for up to one month.
OKCoin and Huobi told users that they were asked to upgrade their Anti-Money Laundering systems to ensure they are in compliance with local financial and money transmission regulations.

 

[Viakor]

I don't think that this will happen.
There are going to be too much transactions for the system to handle.

[iram3130]

I don't think that this will happen.
There are going to be too much transactions for the system to handle.

We will have a solution for that. Segwit and Sidechains after that will make it better for all the Bitcoin users.
To OP: It will be in far future and after much compromise to its main features there is a chance of Bitcoin function as a single world currency, But I don't think people will be crazy like now they are to use it without its main features.

[DoublerHunter]

We can't be sure that it gonna happen but for me there is a possibility that bitcoin can reach that expectation and be a single world currency with a faster transactions and lower fees but i think we need a lot of miner for that kind of thing to confirm faster transaction so it will be able to support the world with just one single currency which is bitcoin .

[avikz]

Bitcoin is already functioning as a single world currency from last couple of years now and the price of bitcoin is skyrocketing every single quarter. However, the acceptance is a problem as of now and many government has not yet accepted bitcoin as a legal currency. However, that doesn't hamper the growth of bitcoin in any way. Rather it has become the most valuable internet currency of all time.

The only problem as of now is mass acceptance. Slowly it is growing. There are more investors in bitcoin than merchants. So it is being considered as an investment more instead of a currency now. However, the scenario is slowly changing for good.