Will Bitcoin become the reserve currency of the world?

[BlackPanda]

Do you think Bitcoin will become the reserve currency of the world sometime in the future? I was wondering about this since Bitcoin is now a widely used cryptocurrency worldwide. Since most altcoins in the market today, are dependent on Bitcoin's price movements, it seems like Bitcoin is the reserve currency of cryptocurrencies.

However, if Bitcoin tends to become more popular each day, it could eventually take the USD's place as the reserve currency of the world. Hence, what are your thoughts about this? Will it happen or not? 

At present Bitcoin can be said to be a supporting currency in the world financial system. It can even be said to be the safest because Bitcoin will not be destroyed like when a disaster occurs. As long as we can still access the account and the bitcoin wallet we have, Bitcoin will still be there. Someday in the future it could be that Bitcoin becomes a currency that is more widely used, we will face a technology era that is much better and more sophisticated technology, so Bitcoin will be increasingly needed.

[finlandais]

Bitcoin is emerging as one of the important currency but  becoming the reserve currency is not possible.It can become a alternate currency but becoming as reserve one is not that easy.But in coming decades it can happen but at present this is not possible at all.Many countries are against it so it had to prove alot to become a reserve currency.

[CryptoSmile]

It is too far to think that bitcoin will become the world's reserve currency, because the existence of bitcoin is still widely opposed and there are still many restrictions on the use of bitcoin by a country. For this reason, bitcoin remains the crypto currency which is currently an investment that many people want.

[player1001101001]

I don't think so it will become the reserve currency of the world. Bitcoin is first decentralized digital cryptocurrency. So because of this thing, no one has control over on bitcoin. And also in many countries bitcoin is not legal. So it will not be accepted universally.

[samuraijin]

Do you think Bitcoin will become the reserve currency of the world sometime in the future? I was wondering about this since Bitcoin is now a widely used cryptocurrency worldwide. Since most altcoins in the market today, are dependent on Bitcoin's price movements, it seems like Bitcoin is the reserve currency of cryptocurrencies.

However, if Bitcoin tends to become more popular each day, it could eventually take the USD's place as the reserve currency of the world. Hence, what are your thoughts about this? Will it happen or not? 

If all the founders of the country talk about this, it will likely be a very good solution if bitcoin becomes a reserve currency, and we know that at present all countries depend on the US dollar, and that it will benefit the US country, if it is changed by using bitcoin to shop for the country's needs, the country's currency will not fall, for example like Turkey !!

[Xising]

Do you think Bitcoin will become the reserve currency of the world sometime in the future? I was wondering about this since Bitcoin is now a widely used cryptocurrency worldwide. Since most altcoins in the market today, are dependent on Bitcoin's price movements, it seems like Bitcoin is the reserve currency of cryptocurrencies.

However, if Bitcoin tends to become more popular each day, it could eventually take the USD's place as the reserve currency of the world. Hence, what are your thoughts about this? Will it happen or not? 

Well, I think that Bitcoin has a wide array of possibilities and potential available to it. However, instead of a reserve currency, I more so foresee it as a currency that can compete with the currencies and other investment assets we have today, just like how it's doing now. However, there's nothing wrong with it being held as a reserve currency or asset, which can be sold at any point when needed. It's not too far off to see that knowing the value it has as it can be turned as a contingency asset that a person can exchange when he needs the money or invest when there is a chance as is.

[zeingrind777]

at this moment I like to see the direction to it. Bitcoin is slowly starting to attract attention and surely in the future, it will take a position as the world's reserve currency, but to get to that stage I think Bitcoin must be able to adjust its exchange rate because currently, the exchange rate is very high against the dollar.

[thankyoulord]

First bitcoin has to be globally accepted for it to possess such potentials. If or when this happens, we can then queue this possibility up as one to hold on to. Secondly, I don't think that there can be a 'World's reserve currency'. Who will regulate it? what policy will it exist on? these are just few questions that should be first put into consideration before we think of such possibility. Moreover, Bitcoin is a technological development and technology innovations are not static, and from what I understand, 'Currency' is not an item to have version 1, version 1.1 and so on.

[hotforblockchain]

Do you think Bitcoin will become the reserve currency of the world sometime in the future? I was wondering about this since Bitcoin is now a widely used cryptocurrency worldwide. Since most altcoins in the market today, are dependent on Bitcoin's price movements, it seems like Bitcoin is the reserve currency of cryptocurrencies.

However, if Bitcoin tends to become more popular each day, it could eventually take the USD's place as the reserve currency of the world. Hence, what are your thoughts about this? Will it happen or not? 

I dont believe that this will be true, at least at official level it wont be recognized as such asset. But in the same time when /if geo political situation will get worse and worse, BTC will become more and more valuable.  Also for this to happen a lot of time has to pass so that we newer generation would be in charge.

[ahmad21]

Do you think Bitcoin will become the reserve currency of the world sometime in the future? I was wondering about this since Bitcoin is now a widely used cryptocurrency worldwide. Since most altcoins in the market today, are dependent on Bitcoin's price movements, it seems like Bitcoin is the reserve currency of cryptocurrencies.

However, if Bitcoin tends to become more popular each day, it could eventually take the USD's place as the reserve currency of the world. Hence, what are your thoughts about this? Will it happen or not? 

LOL!! That is a very far fetched dream, my friend!! Bitcoin is yet not accepted as a global currency, there are many countries that are still not ready to opt for crypto currency market. They have a very rigid approach towards the bitcoin and other crypto currencies. Such kind of a rigid and arrogant attitude towards bitcoin makes it difficult for the currency to survive in an economic system. So bitcoin has become only a means of an investment in those countries and a DIGITAL ASSET. Then there are other countries where the government has imposed a complete ban on the crypto market.

[dreamax25]

One of the best news so far!

˝Fidelity Investments, a financial services giant with over $7 trillion worth of assets under its management, has launched a company called Fidelity Digital Asset Services, which will be providing custody and trade execution services for cryptocurrencies. ˝

https://coincodex.com/article/2488/fidelity-investments-launches-crypto-focused-company/

[TIDOVEE]

Many of us are suspecting the same "bitcoin  becoming the reserved currency of the worked.
Bitcoin is widely spreading across the globe and I don't think anyone who has known well about the use it will want to leave it. But for governments who are yet to accept it. Bitcoin is really worth becoming the world currency.if bitcoin should pump well this year end I'm sure it will attract people's attention the more

[snatoshi]

It can be the reserve value reference for the world but I doubt it can be used as currency any time soon. Micro payments through bitcoin blockchain can be really expensive and also the network congestion in highly demand times like the one we experienced past December 2017 can result in a very slow network. I like bitcoin but it needs to solve it scalability issues first for considering this to happens any time soon  

[shulc7]

It is highly possible but no where in the near future.

But you agree it can happen, right? I also think that it is possible - when Bitcoin is accepted worldwide, it can partly replace some physical money. It might happen in least than 10-15 years.

[Rozita]

Now Dollar is the global currency. Most of the international transactions are done using dollar. It's not fair. Because United States has control over the currency. Why shouldn't another country play that big role? In my opinion dollar will be finally replaced by another currency. A decentralized currency can be a good option. Bitcoin might be that currency.

[humantraffic]

In my opinion, Bitcoin can become a reserve currency all over the world only when all countries begin to actively use cryptocurrency and blockchain technology. But it will be in very many years. Some countries, such as Ethiopia, where the Internet uses 1% of the population. And when it comes to such countries technological development is unknown.

[kalstarzz]

Do you think Bitcoin will become the reserve currency of the world sometime in the future? I was wondering about this since Bitcoin is now a widely used cryptocurrency worldwide. Since most altcoins in the market today, are dependent on Bitcoin's price movements, it seems like Bitcoin is the reserve currency of cryptocurrencies.

However, if Bitcoin tends to become more popular each day, it could eventually take the USD's place as the reserve currency of the world. Hence, what are your thoughts about this? Will it happen or not? 

I think that is quite difficult, considering not all countries in the world accept the existence of bitcoin. if the situation reverses then bitcoin is not only a reserve currency, it can even exceed that.

[Abiky]

First of all, cryptocurrency (Bitcoin) is a technology. Blockchain technology is being actively studied by many countries and payment systems. They are trying to integrate it into business processes, which can help greatly reduce the overhead of bank transfers. The farther, the more new technologies that entail new changes, products, industries. Everything is far from clear, therefore at the present time it is best to observe the situation.

Agree. Blockchain technology brought by Bitcoin is new to the world. Despite this, it's quite surprising to see how a new technology became popular so fast. Within less than 10 years of Bitcoin's existence, the blockchain industry has improved in many ways that were never thought possible. However, there's still the issue of scalability which would prevent Bitcoin to reach millions of users worldwide. When it scales with the Lightning Network successfully, then Bitcoin would become a global currency for anyone to enjoy.

Still though, I'm starting to doubt whenever Bitcoin will become the reserve currency of the world or not, due to its decentralized design. For it to attract the likes of Banks and Governments worldwide, it would need to become centralized, otherwise it'll be difficult to control or maintain order on it. A cryptocurrency that would fit the bill nicely, would be Ripple (XRP) due to its highly centralized design. It's easily controlled by banks, governments, and the Ripple company itself making it extremely ideal for a reserve currency of the world. It may not be the XRP token directly, but instead a fiat currency issued within the XRP ledger.

As such, the Dollar might remain as the reserve currency of the world, but in a whole new way, as it operates in a distributed ledger which can be easily frozen or manipulated in case there's criminal activity (money laundering). This may take quite some time before it becomes a reality, but one thing for sure is that the world is heading towards everything blockchain, as the reserve currency of the world takes advantage of such technology. Just my opinion

[drachman]

Do you think Bitcoin will become the reserve currency of the world sometime in the future? I was wondering about this since Bitcoin is now a widely used cryptocurrency worldwide. Since most altcoins in the market today, are dependent on Bitcoin's price movements, it seems like Bitcoin is the reserve currency of cryptocurrencies.

However, if Bitcoin tends to become more popular each day, it could eventually take the USD's place as the reserve currency of the world. Hence, what are your thoughts about this? Will it happen or not? 

It doesn't seem very likely that bitcoin is going to become a reserve currency anytime soon, before that happens bitcoin will need to become a currency, I know that bitcoin is a currency from the very beginning but people are not using it like it, so to begin with we need people to begin to use bitcoin in that way and only then we can think about the possibility of bitcoin becoming a reserve currency.

[bangkit tri]

Do you think Bitcoin will become the reserve currency of the world sometime in the future? I was wondering about this since Bitcoin is now a widely used cryptocurrency worldwide. Since most altcoins in the market today, are dependent on Bitcoin's price movements, it seems like Bitcoin is the reserve currency of cryptocurrencies.

However, if Bitcoin tends to become more popular each day, it could eventually take the USD's place as the reserve currency of the world. Hence, what are your thoughts about this? Will it happen or not? 

It doesn't seem very likely that bitcoin is going to become a reserve currency anytime soon, before that happens bitcoin will need to become a currency, I know that bitcoin is a currency from the very beginning but people are not using it like it, so to begin with we need people to begin to use bitcoin in that way and only then we can think about the possibility of bitcoin becoming a reserve currency.

right, for short term, government is expected to legalize BTC, and make it a reserve currency. because it is impossible to replace fiat currency. after that it is expected that there will be many shops that facilitate payment using BTC