Bitcoin cannot be a global currency

[richardsNY]

Not all country has the buying power to have establishments that it focused on cryptocurrency, and considering in microeconomics that not even all people has access to internet while some can in their own internet cafe but it is quite limited.

If crypto is what we all believe it is, and thus far it has more than proven its power, then weaker economies are the ones who are badly in need of cryptos growth potential. If Belarus can jump into crypto like they did, there is no reason why similar countries (i.e. weak countries) can't do the exact same thing. Spain is a much larger economy, but even they are looking to open themselves up for the crypto rush that is only gaining popularity. Friendly tax policies and growth capabilities are all part of the plan to attract talent, new potentially billion dollar startups, etc. It could be a major long term boost for their country in all aspects, and that's the main point of importance here. Countries saying no to that are ill minded.

[josh07]

bitcoin is one of the earliest coins invented why it can not be a global currency while it is mostly used for me as much as the bitcoin helped so they should make it a global currency.

[nniecan001]

bitcoin is one of the earliest coins invented why it can not be a global currency while it is mostly used for me as much as the bitcoin helped so they should make it a global currency.

This make me frozen for a second, can you please use some comma or period to avoid some sentence fragment. First invented? ( don't think so ) and also that is not enough to be counted as a global currency, specially some countries does not welcoming the bitcoin as currency.

[canaveralnonie]

bitcoin is one of the earliest coins invented why it can not be a global currency while it is mostly used for me as much as the bitcoin helped so they should make it a global currency.

This make me frozen for a second, can you please use some comma or period to avoid some sentence fragment. First invented? ( don't think so ) and also that is not enough to be counted as a global currency, specially some countries does not welcoming the bitcoin as currency.

It will be a online global currency if all countries around the world will accept bitcoin in different ways.  In current time, too far from reality, but in future, there's a potential to be. Bitcoin, never failed me to surprise in such different ways ( either good or bad ).

[ubitcoin]

sure, the technology of bitcoin is too old.but now btc is still the king of cryptocurrency. I think bitcoin is gold, ethereum is gas for now

You never know about the future as we cannot predict that. I am very much sure that anything can happen in this world and that you can expect anything from bitcoin as this is the most valuable crypto coin and has defeated almost all other investments. It is just a matter of time which will decide the things but there is no such big reason because of which you can claim that bitcoin cannot be a global currency.

[ExoticMotors]

It can only be a global currency for the elite few due to limitation. Other cryptocurrencies can pave the way for a dominant global currency. Only time will tell either way because there are several factors that could change the outlook.

[Dreamchaser21]

It can only be a global currency for the elite few due to limitation. Other cryptocurrencies can pave the way for a dominant global currency. Only time will tell either way because there are several factors that could change the outlook.

Bitcoin can only be a global currency only if every country recognize this thing but I think we need more time for that. Bitcoin is a first cryptocurrency and i believe it will continue to spread around the world until it recognized and acceptable around the world.

[Tenderino]

Bitcoin can be definitely a global currency in the sense of be accepted worldwide, but every country of course still needs its own local currency. A government can also not use bitcoin as its official currency where they have no influence whatsoever on it, this is clear. There are also a lot of altcoins available alternatively and we also do not need a global currency as globalization is not good for the average people.

[dutchkay]

Chances of Bitcoin becoming a global currency it's still on the high side. certain things needs to fixed and currently it's lacking the required speed needed and transaction fees are still on the high side. Lightening network are meant to handle the issue of transaction feed and speed when fully implemented. But the volatility nature of the currency is what i don't know how it will be fixed. But am sure with time Bitcoin will be accepted as the internet money.

[TravelMug]

Chances of Bitcoin becoming a global currency it's still on the high side. certain things needs to fixed and currently it's lacking the required speed needed and transaction fees are still on the high side. Lightening network are meant to handle the issue of transaction feed and speed when fully implemented. But the volatility nature of the currency is what i don't know how it will be fixed. But am sure with time Bitcoin will be accepted as the internet money.

Yes, because they are a lot of resistance from government around the world so I'm not surprise that it will not be the future of the currency as what we all have been wanting to.

Government would rather deal with the old and traditional fiat like Dollars or even Gold to transact and trade with other nations. And just look at how slow the adoption of crypto, we are still not hitting 2% globally.

[whandut93]

So many have wondered if bitcoin could be the next global currency. While you may have heard the term bitcoin thrown around, it is understandable if you’re still fuzzy on the intricacies of this digital payment system. Before attempting to answer the question posed above, it is important to understand exactly what a bitcoin is.

Bitcoin is a relatively new technology, in fact, it is less than a decade old. Created back in 2007, bitcoin is the world’s first decentralized virtual form of currency. As of fall of 2016, it is now an accepted form of payment in dozens of countries around the globe. As more nations continue to adopt this groundbreaking technology, it increases the chances that bitcoin will, in fact, become the next global form of currency and one of the few not tied to a specific nation’s economy or a banking system.

Experts estimate that in just three years, by the year 2019, there will be five million active bitcoin users. Of this five million, fifty-one percent of users are expected to be outside the United States.These are impressive statistics, however, consider an even more impressive estimation, bitcoins are expected to be the world’s sixth largest reserve currency by the year 2030.

[jojowar]

For me bitcoin now is a global currency in another aspect or world. It may not be a currency like dollar for those simple person known but in our cryptoworld bitcoin is the oldest, well known and the fundamental cryptocurrency.

[tuikindu01]

Trust is a key issue in whether bitcoin can become a global currency, and if everyone trusts him, it can be used to make money.

But who in reality can trust bitcoin completely? Does anyone change all of their money into bitcoin?

[guoyu78]

I don’t know what you’re talking about, but Bitcoin is decentralized and by being decentralized makes it global (meaning that anyone can make use of it without any restrictions, except the ones placed the government. The only thing that Bitcoin doesn’t have the qualities of achieving is being a real currency… it can’t be a real currency. Well, it’s just an asset. And I don’t believe what you’re saying about human beings originating from monkeys, maybe your family did, but not mine, I don’t believe that trash.

[beej]

I think it won't go well with governments, some nations may have accepted bitcoins and
that's quite a good thing, talks of regulations and taxes may seem to indicate that the
probability of bitcoins becoming a global currency is gaining momentum. But until bitcoins
become stable and fully reliable, I think it's better of as a currency and a commodity.
Though I firmly believe that Bitcoin is the universal global cryptocurrency today, it's the
reigning supreme king of them all, it's influence and impact is paramount.

[EdenHazard]

Bitcoin can only be a global currency only if every country recognize this thing but I think we need more time for that. Bitcoin is a first cryptocurrency and i believe it will continue to spread around the world until it recognized and acceptable around the world.

The government will always know about technological and economic developments. They have decision to bitcoin it's not mean they didn't know bitcoin and cryptocurrency, because before deciding to ban or accept cryptocurrency they will control feasible or not feasible if acceptable in their country.

They will always have a reason why banned bitcoin. And it is very unlikely for those who banned bitcoin now and in the future they will accept bitcoin and cryptocurrency. They will stick to the first decision to ban bitcoin, no more.

[mpetyunov10]

The Financial Times entered into a discussion with Jack Dorsey.
Recently Jack Dorsey, co-founder of Twitter and a crypto-enthusiast, said that Bitcoin could become a global crypto currency in the next 10 years.
The Financial Times refutes Dorsey's optimism. First, the emission of crypto currency is limited, therefore Bitcoin will cost prohibitively expensive to become a global crypto currency, presumably, by 2028 its value will reach about $ 10 million.
Secondly, in the future, the operating costs for Bitcoin mining will be such that $ 15 million will be spent on generating bolkas. Since each block contains about 1500 transactions, each transaction will cost about $ 10,400. With an average price of 11 cents per kilowatt-hour, the energy consumption per transaction will be about 101,114 kWh.

[d1ceplayer]

Trust is a key issue in whether bitcoin can become a global currency, and if everyone trusts him, it can be used to make money.

But who in reality can trust bitcoin completely? Does anyone change all of their money into bitcoin?

I am unable to understand the reason because of which we are getting convinced to such kind of things that bitcoin cannot be the global currency. In fact, there are likely chances of bitcoin to become the world currency but that will surely take lot of time for things to settle down in a positive manner and to let others think in a positive manner regarding bitcoin and above all, to change the behavior of the government officials.

[steveabrahams]

I think it won't go well with governments, some nations may have accepted bitcoins and
that's quite a good thing, talks of regulations and taxes may seem to indicate that the
probability of bitcoins becoming a global currency is gaining momentum. But until bitcoins
become stable and fully reliable, I think it's better of as a currency and a commodity.
Though I firmly believe that Bitcoin is the universal global cryptocurrency today, it's the
reigning supreme king of them all, it's influence and impact is paramount.

Well many countries are rejected and banned bitcoin and cryptocurrency. It might hard to accept but i think it takes time to makes cryptocurrency and blockchain technology being accepted by other countries. I'm sure someday in the future, we will apply these into our life, maybe not now but in the future.

[Starone1]

Trust is a key issue in whether bitcoin can become a global currency, and if everyone trusts him, it can be used to make money.

But who in reality can trust bitcoin completely? Does anyone change all of their money into bitcoin?

If you want something you will have to invest three things, your capital, your patience to hold and your trust for bitcoin to get huge profit, bitcoin is getting legal in a lot of countries which is the sign that bitcoin will become the world legal currency ad it will increase high in price, so more countries will announce bitcoin as legal currency,. To me the increasing demand and the high acceptance will help us to make bitcoin global currency, as bitcoin is famous worldwide but we are just waiting for the worldwide acceptance.