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Author Topic: Bitcoin as a global reserve currency?  (Read 570 times)
Bitcoinislife09
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January 02, 2020, 05:34:15 PM
 #61

If there would ever be need for a global reserve currency Bitcoin narrative and activities would pop-up, since a soverign-free, algorithm-based alternative would be more stable and trustworthy and perhaps this would be Bitcoin. This goal would soon be actualized especially as Bitcoin is not too volatile and is widely progressing to be used as a universal settlement token for trading, to be used for contracts even between countries, organizations and persons etc.
I believe in the nearest future businesses and sovereign powers will give up their preference for Fiat, and when this happens it would result to Bitcoin earning general global recognition as an international trading currency that embody trustworthy transactions.
I think as a alternative currency bitcoin will be a great currency and as currently it is already becoming a currency that anyone in the world could use and also we could also make a transaction anywhere all over the world. Surely as alternative or reserve currency online this bitcoin could easily be the best , but still need to implement in the market since it doesn't have a lot of assets.
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January 02, 2020, 05:43:12 PM
 #62

We all know that bitcoin is not controlled by any of the government. Meaning, it is impossible for it to become a global reserved currency. They do not trust bitcoin that much because of its complexity unlike having a fiat in their hands. Plus the fact that bitcoins price is volatile and continuously changing day by day.
This is the fact because there are still countries who hated bitcoin and they dont accept bitcoin as a currency. Does this mean that bitcoin is good to be an asset to us where we store at the safe wallet and waiting to harvest anytime soon as we saw that our profit was there? But to become a global currency? Probably it will take a longer time or probably it will not.
That's true, I mean it will take some time for bitcoin to be used in all the countries over the world, because as we know that bitcoin's price is so volatile and there's some countries are illegalizing it currently. Bitcoin is usually an amazing crypto currency for investment, but I don't think that it's gonna become a global currency really soon.
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