Could Bitcoin be the New King of Currency?

[thend1949]

I think bitcoin is ahead in currency because this crypto currency are have many ways to get earn but the problem in this coin is theres no physical appearance so i dont think that this crypto coin be a new king of crypto currency

[1714176806]

1714176806

[Hazir]

Despite the fact that bitcoin is not backed by anything it has been growing for more than ten years now. I do not see the shortcomings he is talking about except that it's anonymous and that depends on which side of the fence you are.

It is not that bitcoin is not backed by anything. Bitcoins have value because they are useful and because they are scarce.
And Blockchain as the backbone of bitcoin network could be used as ultimate and the best ledger on our planet which alone is very valuable.

[darewaller]

No the bitcoin can not become this, there are just too many currency's that are way bigger than the bitcoin itself.
I think banks will try to stop this and they will succeed with a replacement of the bitcoin with another coin that is made by banks...

No it will not happen as you said, bitcoin has its roots firmed in the financial system of the world and now everyone have some amount of bitcoin and they are relying on it and so they do not want that bitcoin go to die so they will support it with full struggle.

[moviebuff777]

A lot of transaction we do every day are done electronically with US dollars (credit cards, paypal, electronic drafts from bank accounts, etc.)  I think fiat can still be the king even if it goes all electronic.

[upsidedown75]

No the bitcoin can not become this, there are just too many currency's that are way bigger than the bitcoin itself.
I think banks will try to stop this and they will succeed with a replacement of the bitcoin with another coin that is made by banks...

Bitcoin can hypothetically become the king of currency due to it's relative ease of use and it's ability to be simply transferred all over the world, but I agree with your statement about other, bigger currencies being able to snuff out the potential for Bitcoin to be anywhere close to receiving such a title.

Banks have already tried to develop alts for Bitcoin, and so far they have all been fairly poor and half-assed attempts at accomplishing something.

Those attempts against the bitcoin are just the useless attempts by the people who are against bitcoin and bitcoin from now is going to increase in price and will continue to get the success and one day it will be the king.

[BitsandBites]

A lot of transaction we do every day are done electronically with US dollars (credit cards, paypal, electronic drafts from bank accounts, etc.)  I think fiat can still be the king even if it goes all electronic.

I'm also thinking this other currency's are way bigger than the bitcoin and this also why I think it will never happen.
The dollar will also be fully digital on a day and other currency's also..

[actmyname]

Bitgold is not very popular, does not matter, that it is backed by gold. Bitcoin is much more popular. 

The backing of currencies still has some weight to them. Keep in mind that paper money is also much more popular than bitcoins. Does that mean in fact that we should instead always use paper money instead of anything else?

No.

Bitcoin has no intrinsic value and nor does paper money, but the perception of value allows it to keep its value.

[Farma]

of course you can, bitcoin currently has currency prices are the highest of all currencies. even if most people see bitcoin as gold. if bitcoin accepted throughout the country, it will definitely happen

[Tristana]

I like bitcoin but I think I still like paper money more for now.

There is something about currency that you can hold in your fingers.

[MaritiJames3]

I like bitcoin but I think I still like paper money more for now.

There is something about currency that you can hold in your fingers.

The king of currency is the US dollar, this will be for at least a couple of years. Next in line is the euro and maybe on place 20 we can find bitcoin.
There is a long way to go will bitcoin become the new king.. and with that i mean a lot.

[voztata]

I think bitcoin is ahead in currency because this crypto currency are have many ways to get earn but the problem in this coin is theres no physical appearance so i dont think that this crypto coin be a new king of crypto currency

It does not have any real appearance because it is a virtual currency and for a virtual currency why anyone will want a physical appearance, before the invention of it, it was decided to be the virtual currency and so it will be.

[Enotche]

I do not think so. Bitcoin is an alternative to the usual money. All that matters in popularity currencies. Conventional money knows everything, everything they are used, and with cryptocurrency familiar to only a small percentage of people. You can only rely on the development of technical knowledge in the people, and the promotion of Bitcoin in the future. To this must be at few years.But we must remember that the amount of Bitcoins is limited.

[KingdomHearts]

There is no any problem with bitcoin , so bitcoin will be definitely the king of currency , everyone is adopting bitcoin and will prefer on the internet in the coming few years , and if someone is saying that there is any problem in that currency then they should have to support that currency so that the expert feel the need of it and work for it to resolve that problem with bitcoin.

[arwin100]

There is no any problem with bitcoin , so bitcoin will be definitely the king of currency , everyone is adopting bitcoin and will prefer on the internet in the coming few years , and if someone is saying that there is any problem in that currency then they should have to support that currency so that the expert feel the need of it and work for it to resolve that problem with bitcoin.

I could really tell that bitcoin cannot be the king of all curriency for now because the price of it is unstable and many people on the world dont know bitcoin and it really relays on dollar so it can be use to buy goods. And i really think the real king of all crypro curriences is dollar because you can use it anywhere you want even in online stores even any other country and many business adopts dollar and also many people know about dollar.

[LLec]

There is no any problem with bitcoin , so bitcoin will be definitely the king of currency , everyone is adopting bitcoin and will prefer on the internet in the coming few years , and if someone is saying that there is any problem in that currency then they should have to support that currency so that the expert feel the need of it and work for it to resolve that problem with bitcoin.

I could really tell that bitcoin cannot be the king of all curriency for now because the price of it is unstable and many people on the world dont know bitcoin and it really relays on dollar so it can be use to buy goods. And i really think the real king of all crypro curriences is dollar because you can use it anywhere you want even in online stores even any other country and many business adopts dollar and also many people know about dollar.

I think that there is a lack of easy system or an a easy way to use in the real life.
So I can't pay bus ticket, or a coffee during a pause in a lesson.
When People could use bitcoin in this daily task I think that could be the new currency (or the strongest one )

[OrangeII]

I do not think like that, I guess as good as any bitcoin, it will never replace the king of currencies today, because bitcoin only well-known and popular on the internet, even if it appears in the real world it would have been only a card

[thejaytiesto]

There is already a crypto-currency backed up by gold. It is called bitgold. It has been around since a year. But hearing about how they are a fraud has people not trusting in them.

Backing crypto in physical materials defeat the point of crypto.. which is to create scarcity without depending on a physical material. To be honest Bitcoin has no real competition, and it's features defeat all other forms of money we have ever seen. So yes, I can't see other way to define it but king of all currencies/commodities/whatever you want to call it.

[Hazir]

I do not think like that, I guess as good as any bitcoin, it will never replace the king of currencies today, because bitcoin only well-known and popular on the internet, even if it appears in the real world it would have been only a card

You know that our perception of "king of money" is biased, right? It is not that we had one currency which was on top for more than 2 hundred years years in our modern history.
Do you remember that Pound dominated the world for about 100 years and initially 1 Pound was worth $4 and now it is $1.5 and less per pound? 

[Snail2]

Indeed, backing a coin with a commodity isn't an easy business and mostly needs to be centralized. There was one notable exception: URO coin what was backed by urine (it's actually a valuable raw material https://en.wikipedia.org/wiki/Urine#Uses) what is a rather distributed method . URO later turned out to be a scam - maybe the devs developed kidney problems and had had some difficulties with backing their product - but still the best and most community driven approach what I've seen . Also liked the idea of pissing money .

[sukamasoto]

As we can see that bitcoin keep growing and many company try to use bitcoin as their transaction.

Also at my place , local restaurant already accept bitcoin so it will attract more bitcoin user for the future !