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Author Topic: Will Bitcoin become the reserve currency of the world?  (Read 50130 times)
FrancePG
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September 10, 2018, 01:13:12 PM
 #61

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?  Huh
Everything goes to the fact that in the future the main coin, make a warning because bitcoin quietly climb into the tops of currencies, and I think they will not stop, and what will happen next, we will find out.

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September 10, 2018, 01:23:17 PM
 #62

Nahhhh not possible. Ithink. Not really sure but since no one can really be called the holder of bitcoin, and no one can really limit it since its pretty much controlled by the user themselves, I doubt it could be the reserve currency. But it is much more efficient than paper money in its continuous transfer and usage so I'm not really sure.
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September 10, 2018, 04:21:58 PM
 #63

It is true that Bitcoin is growing day by day and it will be one of the major currencies on a global scale in the fund transfer industry. However, it will never replace the fiat currency because of the number of reasons. People will definitely give the first choice to the currency which is convenient, secure, cheaper and faster. If Bitcoin could give more utility to the users, then it will be on the top in any time period. I am optimistic about the growth of crypto industry in next 5 to 10 years from now.
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September 10, 2018, 06:59:53 PM
 #64

It is true that Bitcoin is growing day by day and it will be one of the major currencies on a global scale in the fund transfer industry. However, it will never replace the fiat currency because of the number of reasons. People will definitely give the first choice to the currency which is convenient, secure, cheaper and faster. If Bitcoin could give more utility to the users, then it will be on the top in any time period. I am optimistic about the growth of crypto industry in next 5 to 10 years from now.
There is a study that bitcoin can be a reserve when time that there will be crisis, I am not just sure how accurate this might be, but for sure it will gonna happen too but not that too soon as there are lots of things to consider.

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September 11, 2018, 06:39:10 AM
 #65

Stability of the price and future constant demand are few main things in order to become a reserve currency in the world and Bitcoin is gaining them slowly and increasing its user rate rapidly in various business trades so if something tragic wont happen in the future against Bitcoin for it to become the reserve currency of the world is very high but many think this is not possible due to political view about Bitcoin and its existence   

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September 13, 2018, 05:11:30 PM
 #66

I do not believe that bitcoin will become a reserve currency in the world. The currencies used for transactions in interbank and international payments are centralized and strictly controlled, which is all that bitcoin is not by its very nature.
Bitcoin is and will be an alternative currency, and in order to be adopted more, it is necessary to redefine the world economy, and there is a lot of resistance.

That's certainly true, mate. However, there could exist a possibility of Bitcoin becoming a reserve currency of the world if it turns out to become centralized. If this happens, then Bitcoin will become the one currency of the world, where everyone will be transacting with. There will be no need for physical hard cash, as everything will be done in a global ledger backed by banks and governments around the world. Even if Bitcoin doesn't become the reserve currency of the world in the future, another centralized cryptocurrency will take the lead as it fulfills the purpose of being the reserve currency of the world.

If Bitcoin remains decentralized, then it could prove to become a viable alternative against traditional currencies such as the Dollar, Euro, Yen, and more. People would resort to decentralized cryptocurrencies to protect themselves against inflation from fiat currencies, and other undesired situations in the mainstream world. Which means that Bitcoin will not become the reserve currency of the world, but it will become the reserve cryptocurrency of all cryptocurrencies to date. Right now, it's the reserve cryptocurrency of all cryptocurrencies on the market, which explains why altcoins have been falling in price the moment Bitcoin does. However, only time will tell us what lies ahead with Bitcoin's dominance in the crypto market, as other alternatives with better technologies emerge. Just my thoughts Grin

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September 14, 2018, 07:40:54 AM
 #67

I think that Bitcoin will not be a reserve currency of the world. There are back-up reserves in the international organizations and they are willing to provide incase of downfall of the world economy like The Great Depression of 1929-1945.
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September 14, 2018, 07:43:16 AM
 #68

I think that Bitcoin will not be a reserve currency of the world. There are back-up reserves in the international organizations and they are willing to provide incase of downfall of the world economy like The Great Depression of 1929-1945.
Exactly friend, your reply is absolutely right and I will appreciate it.

Bitcoin will not be the currency in this world, but Bitcoin will be a valuable asset.
Bitcoin can be like a Villa, a House, a Land or a Digital Gold whose prices are expensive
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September 14, 2018, 07:45:10 AM
 #69

Maybe not a reserve currency, but as it is limited, well recognized, and has a great number of useful features, I truly believe it will become a store of value.

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September 14, 2018, 07:53:58 AM
 #70

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?  Huh

I have doubt if it's going to happen, not all countries are into technology and some rich countries are banning cryptocurrency, we will have good adoption but I don't think it's going to be 100% if we can have 50% of the country in the world then we can consider, it as a success for our community.

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September 15, 2018, 09:05:20 PM
 #71

I have doubt if it's going to happen, not all countries are into technology and some rich countries are banning cryptocurrency, we will have good adoption but I don't think it's going to be 100% if we can have 50% of the country in the world then we can consider, it as a success for our community.

That's certainly true, mate. I guess that we would have to wait until all the countries of the world, adapt to the latest technologies for their own benefit. As they see how Bitcoin's blockchain technology changes the economy for the better, they would adopt the latest technologies without doubt, to create a digital currency of their own. Then, it would only be a matter of time before Bitcoin becomes extremely popular in every region of the world, to obtain its status as the reserve currency of the world, or simply a centralized alternative would emerge with said purpose.

What really matters is that Bitcoin has managed to go a long way since 2009, where it has gathered a lot of popularity and adoption in the mainstream world. While it's decentralized right now, it can never achieve the status of being the reserve currency of the world. However, it's known that Bitcoin is the reserve currency of all cryptocurrencies in existence to date, since many altcoins rise in value whenever Bitcoin does the same. Perhaps, in the future, Bitcoin could become Gold's successor, as it proves to become a safe-haven for investors against inflation experienced by fiat currencies like the US Dollar.

Therefore, we may never know with certainty if Bitcoin will become the reserve currency of the world, or another contender which is centralized may take the lead. Just my opinion Smiley

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October 07, 2018, 05:29:44 PM
 #72

it will take time and maybe bitcoin will not be a global currency, but the coins based on the blockchain have all the chances for this

Probably. However, because many cryptocurrencies have a decentralized design, it's quite impossible for it to become a reserve currency of the world. Unless, cryptocurrencies replace fiat, the chances of Bitcoin or any other coin to become a reserve currency of the world would diminish every day. Of course, Bitcoin is already the reserve currency of all the cryptocurrencies in existence today, but it might never reach the status of being a reserve currency of the world.

However, in the future, either the US Dollar, the Euro, or the Chinese Yuan might become the reserve currency in the world. Right now, it's the US Dollar, but it could change anytime soon if it weakens over time. I believe that fiat currencies will shift to blockchain technology to gain all the benefits existent into cryptocurrencies. But who knows? In crypto land, anything could happen and if Bitcoin becomes extremely popular and adopted by anyone in the world, it could effectively become the "people's reserve currency of the world". Just my thoughts Grin

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October 07, 2018, 06:25:21 PM
 #73

from technology, maybe bitcoin can excel, but you have to be able to see from a number of cases that exist when bitcoin or digital currency is not widely used for some existing payment platforms because governments in some countries still have not legalized bitcoin as a tool for legitimate payments if there are no regulations. what is clear from the use of bitcoin, yes I know bitcoin is created because it wants to make digital currency that cannot be controlled by anyone all the movement of pure prices from the existing supply and total supply, so this will cause unstable problems in the price of bitcoin, from in this case, there are many problems that exist if bitcoin replaces the world currency so I think bitcoin will be very difficult to replace the world currency. but I am very confident that bitcoin can be one alternative payment that is safer from hacker attacks in the world, because at this time I have not known there are hackers who can steal when a bitcoin transaction is in progress.
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October 07, 2018, 06:34:38 PM
 #74

In as much that bitcoin is becoming more and more popular or known by the world does not mean bitcoin is overtaking USD in terms of popularity. For Bitcoin to become a reserve currency of the world, Bitcoin must be in existence for the next 30 to 50yrs. By then, about 80% of the world would have heard of Bitcoin and it operates.

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October 07, 2018, 07:19:55 PM
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It would be great to see Bitcoin as a reserve currency in the future, but even today many individuals use Bitcoin as an additional way to save their money in the event of devaluation, inflation or in the event of another global financial crisis. But I am sure that in the future Bitcoin will become a reserve currency, first for large businesses, then for corporations, banks and in the future for entire countries.
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October 08, 2018, 04:44:56 AM
 #76

It depends on what you mean by this value. I think that Bitcoin will be mainly used by citizens and will be mainly for carrying out large-value transactions. States and business structures do not seem to use it as often because of its high volatility. However, all this will depend on how well Bitcoin will be improved.
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October 08, 2018, 05:27:15 AM
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It depends on what you mean by this value. I think that Bitcoin will be mainly used by citizens and will be mainly for carrying out large-value transactions. States and business structures do not seem to use it as often because of its high volatility. However, all this will depend on how well Bitcoin will be improved.

No, i think it will not happen that bitcoin is the reserve currency in the world. Because it is a strongest and most popular cryptocurrency all over the world, it should be the alternative.
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October 08, 2018, 06:01:19 AM
 #78

According to me, bitcoin will not be the world's reserve currency, but Bitcoin or cryptocurrency will be the world's alternative currency. because we can send it anywhere without obstacles and without distress.
all can happen and cryptocurrencies can also be the main currency, the most important now is all countries recognize and formalize crypto currencies as the prevailing currency
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October 08, 2018, 06:09:48 AM
 #79

Chances are higher that BITCOIN will become global currency, once developed country started adopting this then all business and country will also start adopting this ,
BTC value rise will also decide many things.

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October 08, 2018, 12:51:41 PM
 #80

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?  Huh

I do not think so. It seems to me that we do not need to jump in a conclusion because some of it could happened and some of it could not. We shoul always need to think what will be the pros and cons of it in the market. Maybe same countries did not want it because of its decentralized and even a government did not want it.

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