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Author Topic: Is bitcoin now the strongest currency in the world?  (Read 41397 times)
malevolent
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March 23, 2013, 11:39:46 AM
 #21

As a currency, Bitcoin is still, and will remain for some time, unstable. There are two things that need to change:

- low capitalization - more people need to join
- centralization - I think it is safe to assume that whatever happens with BTC price on MtGox, it will be reflected on other exchanges which make up (please correct me if I'm wrong) less than 10% of the Bitcoin trading market, with MtGox in control of the rest.
- difficulty of getting started into Bitcoin and actually using it safely and conveniently

Just being an ass Cheesy

Fixed, I intended to mention two at first.
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March 24, 2013, 12:50:22 AM
 #22

Nope, it wouldn't take a whole lot to get the numbers to start going down (compared to other currencies).

But without derivatives markets is it not difficult to get the price going down without already holding bitcoin? Or are there BTC futures & shorting yet?

By one measure BTC is one of the strongest currencies - it is probably one with the least monetary inflation in the near future. It remains to be seen if it will retain its buying power though and thats whats important to most of us.
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March 24, 2013, 03:37:20 PM
 #23

The Bitcoin market is absolutely tiny right now, let's be honest, even if we guessed how much really anonymous deals are going on it still won't amount to much just because it's so new and not many people know about it. That said, I do think the fundamentals behind Bitcoin are extremely solid, far more so than any other currency besides stuff like gold and silver, as long as we don't see any special interests trying to muscle their way in then Bitcoin should do amazingly well this year.
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June 05, 2013, 04:28:20 PM
 #24

Nah, gold is. But bitcoin has huge potential, even if limited by the State to "just" the black market.

gold isn't a currency, its money

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June 05, 2013, 10:14:17 PM
 #25

The strength of a currency depends on the strength of its users. Are you strong? Are we strong?

There are half a billion people using dollars everyday, with some of them being the richest persons on the planet, so bitcoin is very far behind...

Read more from me and follow me on Steemit: https://steemit.com/@countryfree
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June 07, 2017, 03:23:06 AM
 #26

For now I think bitcoin is not yet the strongest currency, because not everyone has, internet network connection, so its conclusion how can we, transact using bitcoin without having computer device





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June 07, 2017, 08:56:11 AM
 #27

For now I think bitcoin is not yet the strongest currency, because not everyone has, internet network connection, so its conclusion how can we, transact using bitcoin without having computer device
Yeah right, this is because the user bitcoin is no more than 5% of the total population of the world, and I think the USD is still the strongest. If the user is bitcoin has reached 50% of the total world population, we would say the strongest currency is bitcoin.

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June 07, 2017, 11:33:25 AM
 #28

For now I think bitcoin is not yet the strongest currency, because not everyone has, internet network connection, so its conclusion how can we, transact using bitcoin without having computer device

Bitcoin is not the strongest currency in the world, but the strongest digital currency for those who have the Internet.

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June 07, 2017, 11:40:15 AM
 #29

Nope, it wouldn't take a whole lot to get the numbers to start going down (compared to other currencies).

As much as it pains me to say it, this is the truth.

Now, it does have the capability to become the strongest, so do take that into account.

Yup I agree, gold is I think the strongest currency as of today (there are some who doesn't consider gold as currency but under the free market system it is, because it's value also fluctuates same as those other exchanges). Though bitcoin is currently the strongest digital currency and it has been progressing every year.
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June 07, 2017, 01:57:51 PM
 #30

I'd say currently bitcoin is one the weakest currencies in the world, but this can (and hopefully will) change in the next couple of years.
If you say bitcoin is the weakest currency, I don't feel comfortable with that. In fact, the price of bitcoin now 2800-2900 USD. It is not a small amount. The market cap is about 70 persen from total 21 million. There would be deflation so the bitcoin price will be more stronger than now. If people out there know bitcoin then they buy some, How much will be per satoshi? I can't imagine if the market cap reach 90 %. More people will hold bitcoin but in small amount. However, the price will be so high, this is my opinion.


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June 07, 2017, 01:59:23 PM
 #31

For now I think bitcoin is not yet the strongest currency, because not everyone has, internet network connection, so its conclusion how can we, transact using bitcoin without having computer device
Yeah right, this is because the user bitcoin is no more than 5% of the total population of the world, and I think the USD is still the strongest. If the user is bitcoin has reached 50% of the total world population, we would say the strongest currency is bitcoin.
Wait a second... There are 350 million bitcoin users?

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June 07, 2017, 02:15:44 PM
 #32

To answer the question, bitcoin is not the strongest currency in the world rather the most expensive one. It is just only a digital currency then I can say it is stongest among all crypto currencies. US dollars is the leading and gold is the best asset.

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June 07, 2017, 02:20:04 PM
 #33

you need about 150 mill usd to change the price of btc for 1 dollar, that means it is very far from being strongest or even just strong

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June 07, 2017, 02:33:03 PM
 #34

After the events of last week.

I was making this suggestion to some folks yesterday, but they claimed that bitcoin is too small.  Does it matter?

I believe it would still be the USD or other developed country's currency. The bitcoin is small because even a small bank can just buy every bitcoin on earth even at these prices. I believe it doesn't even reach a trillion dollars in market value so that's pretty much easy to buy off in case some banks would offer to buy it.
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June 07, 2017, 02:33:51 PM
 #35

After the events of last week.

I was making this suggestion to some folks yesterday, but they claimed that bitcoin is too small.  Does it matter?

Bitcoin as the strongest currency in the world, maybe not. Because I think to be the strongest currency it must be stable, while bitcoin is very volatile. Because if the currency in a stable state means the economy is in good situation while if fluctuating means the economy is very fragile and risky. Maybe I think bitcoin is now not the strongest currency in the world.


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June 07, 2017, 02:58:52 PM
 #36

After the events of last week.

I was making this suggestion to some folks yesterday, but they claimed that bitcoin is too small.  Does it matter?

Bitcoin as the strongest currency in the world, maybe not. Because I think to be the strongest currency it must be stable, while bitcoin is very volatile. Because if the currency in a stable state means the economy is in good situation while if fluctuating means the economy is very fragile and risky. Maybe I think bitcoin is now not the strongest currency in the world.

I agree with you.  Plus the fact that it is not yet recognized in other countries and maybe not yet known.  I think gold and USD are the strongest right now.  But maybe gold, because it stand the test of time.  It was used even before the time of Jesus as there money.  If bitcoin will have the highest price and continues to get high, then maybe it can become.

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June 07, 2017, 03:12:21 PM
 #37

After the events of last week.

I was making this suggestion to some folks yesterday, but they claimed that bitcoin is too small.  Does it matter?

Bitcoin as the strongest currency in the world, maybe not. Because I think to be the strongest currency it must be stable, while bitcoin is very volatile. Because if the currency in a stable state means the economy is in good situation while if fluctuating means the economy is very fragile and risky. Maybe I think bitcoin is now not the strongest currency in the world.
Bitcoin is volatile at the moment, but as you can see the more investors jump into bitcoin the harder it is to affect the price greatly because more money is needed to actually move the price. It is definitely not the strongest currency at the moment, but the more it survives all the tries to centralize it and control it and the more money gets poured into it it becomes increasingly stronger.
you need about 150 mill usd to change the price of btc for 1 dollar, that means it is very far from being strongest or even just strong
Wait what? How was that calculated? You can divide the market cap by the current bitcoin price what would give you 46bil/2900=150mil though it is not the accurate calculation as the buy walls are different on different prices.

So it might take for example only 75 mil to dump the price the first dollar, but 80 mil to dump the second dollar and 500 mil to dump the 200th dollar if that makes sense.
For now I think bitcoin is not yet the strongest currency, because not everyone has, internet network connection, so its conclusion how can we, transact using bitcoin without having computer device
Yeah right, this is because the user bitcoin is no more than 5% of the total population of the world, and I think the USD is still the strongest. If the user is bitcoin has reached 50% of the total world population, we would say the strongest currency is bitcoin.
Wait a second... There are 350 million bitcoin users?
It seems to be just a wild guess as well like the guy with the price that I commented above. To be honest there is no way to check how many people are using it and for 40 bil market cap 5% of all planet people seems way too much.

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June 07, 2017, 03:16:33 PM
 #38

After the events of last week.

I was making this suggestion to some folks yesterday, but they claimed that bitcoin is too small.  Does it matter?
Yes they are pretty right. We can't claim bitcoin to be the strongest currency of the world when 80% of its users don't even consider it to be currency. They are just interested in making some profits by investing in bitcoin. If we want bitcoin to be more mainstream, we need to promote it as currency.
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June 07, 2017, 03:26:48 PM
 #39

From beginning some people said bitcoin can not become something so they refused to invest into it. Now bitcoin is now competing with most of the world currencies. Bitcoin is going to be a number one “world currency”.

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June 07, 2017, 06:58:34 PM
 #40

Bitcoin is undoubtedly strong but definitely not the strongest currency. Bitcoin is still unstable and full of uncertainties. There are rumors about an altcoin has a chance of overtaking the place of bitcoin so we cannot label bitcoin as the strongest now. Bitcoin is still far from being the strongest but it has the potential of being the one. Bitcoin is still young, it has to surpass many obstacle first before becoming the strongest currency in the world.
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