Will Bitcoin become the reserve currency of the world?

[Barcode_]

Looking at the number of governments around the world who are trying to restrict their citizens from trading bitcoin in their countries, I believe it will still take a very long time for bitcoin to stand a chance to become the reserve currency of the world. In my opinion, I think the possibility of bitcoin to become the reserve currency of the world is extremely low.

[Crypto one]

Bitcoins are still to centralize to become a truly global reserve currency, the small unknown elite still hold to many bitcoins, most bitcoins owners have less than a whole bitcoins it's very few addresses who controls 50% of all bitcoins.
Bitcoins needs to be better re disputed among a wider crowd than the few people who holds bitcoins now.
In a few years, bitcoins cut be a new digital reserve currency, but we need many millions to hold fraction of a bitcoins and hundreds of thousands of people, to be owners of one or more bitcoins, before bitcoins really become a global reserve currency.

[mcneLubB]

I have the courage to assume that in the future it is real. In addition, imagine that the number of bitcoins is limited and there is constant deflation. With all the desire, when Bitcoin becomes a resource of mass use, it will be impossible to eliminate or crush it. This system will be able to support itself.

And what is most interesting is that world leaders know about it. Therefore, a matter of time. I think this will happen, but not quickly. It takes years for everything to fall into place.

It remains for us so far only to observe what is happening ...

[Zackgeno96]

Currently with the coin's statistics, I don't think Bitcoin can become the reserve currency of the world. Presently the coin is a great investment asset and it will take the coin many years to become a mainstream currency.
For that the coin will have to lose its volatile nature and become quite stable as it is needed for a strong economy.
Also, the coin needs to be totally accepted in the financial market among all the financial institutions.
The coin's decentralised nature also poses a threat as due to it, the coin is not bound to any rules and regulations which is need of the market.

[Anies_Sandi]

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.

Yes, what you say in your opinion is that cryptocurrencies are created as the development of the economic system by using the development of times and technology, one day cryptocurrency will become an alternative currency that is more efficient, practical.

[megynacuna]

It is already the reserve cryptocurrency and is serving as the reference currency with the US dollar for all altcoins on many exchanges around the world and so I for instance wouldn't be surprised to wake up one day to find bitcoin as the reserve currency worldwide.

[Abiky]

Looking at the number of governments around the world who are trying to restrict their citizens from trading bitcoin in their countries, I believe it will still take a very long time for bitcoin to stand a chance to become the reserve currency of the world. In my opinion, I think the possibility of bitcoin to become the reserve currency of the world is extremely low.

Yes. There's still opposition from world governments into recognizing Bitcoin as a legal medium of exchange for people to use in their daily lives. While Bitcoin lives on the Internet, not everyone is permitted to gain access to it, if the government restricts it. For Bitcoin to achieve the status of a reserve currency of the world, it needs to be accepted as a legal currency in every country worldwide. Due to Bitcoin's decentralization, it's threating government's current economic system, which explains why some countries have devised laws against it. However, if Bitcoin becomes centralized, then it would gather the likes of banks and governments worldwide.

Despite this, I believe that there's no reason to worry about this, since Bitcoin will always serve as an alternative currency to Fiat. Without a doubt, a centralized currency will become the reserve currency of the world. However, it's a matter of time before the US Dollar remains as such, or another currency would take its place. For the meantime, Bitcoin could be the reserve currency of all the cryptocurrencies on the market today. Just my thoughts

[nightxglow]

Yes that's true bitcoin is getting more and more popular, and many other altcoin still depends on bitcoin a lot. Maybe because it's the first coin and it's not really easy to replace the first, moreover if the first is successful. But maybe other altcoin will have other chance later in the future. Begin to be better and doesn't depend on bitcoin anymore.
But i think although that means bitcoin is the best in cryptocurrency, it doesn't apply in the real world. Since i think usd is still better and it'll be hard to replace usd, although i like bitcoin a lot and i'll be happy if it becomes more popular than before.

[fianaindriati]

It is already the reserve cryptocurrency and is serving as the reference currency with the US dollar for all altcoins on many exchanges around the world and so I for instance wouldn't be surprised to wake up one day to find bitcoin as the reserve currency worldwide.

even though bitcoin is not a real currency. but the use of bitcoin is almost the same as real money. so bitcoin can be used for fiat currency. but there are still many countries that are still opposed to the circulation of bitcoin. so btc isn't used in real currency transactions.

[denzkilim]

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.

It is already a currency and it is a crypto currency LOL
It has a high chance to become a reserve if majority of the people agrees to make it centralized with a stable price or value but this idea will be bloody because a lot of people will surely oppose to it.

Looking at the number of governments around the world who are trying to restrict their citizens from trading bitcoin in their countries, I believe it will still take a very long time for bitcoin to stand a chance to become the reserve currency of the world. In my opinion, I think the possibility of bitcoin to become the reserve currency of the world is extremely low.

Yes. There's still opposition from world governments into recognizing Bitcoin as a legal medium of exchange for people to use in their daily lives. While Bitcoin lives on the Internet, not everyone is permitted to gain access to it, if the government restricts it. For Bitcoin to achieve the status of a reserve currency of the world, it needs to be accepted as a legal currency in every country worldwide. Due to Bitcoin's decentralization, it's threating government's current economic system, which explains why some countries have devised laws against it. However, if Bitcoin becomes centralized, then it would gather the likes of banks and governments worldwide.

Despite this, I believe that there's no reason to worry about this, since Bitcoin will always serve as an alternative currency to Fiat. Without a doubt, a centralized currency will become the reserve currency of the world. However, it's a matter of time before the US Dollar remains as such, or another currency would take its place. For the meantime, Bitcoin could be the reserve currency of all the cryptocurrencies on the market today. Just my thoughts

If there will be a central governance for Bitcoin and its price will stable it could be a reserve crypto currency for digital goods but this will take a long period of time and there will be tremendous amounts of discussions about this because not every people like this kind of aspect and opposing people are expected. Some of the reasons why other people don't like this kind of centralization idea are the facts that those people are the ones that bought Bitcoin at the highest price. And of course, there are also whales with a huge amount of Bitcoin that wanted to control the market and against the centralization idea.

[smartbitcoininvestor]

Bitcoin will definitely be a store of value for the future. I can see it being used as a Gold-like type of investment for individuals and possibly countries like China. The good thing is people can already trade their Bitcoins to Gold and vice-versa on places like Vaultoro.

As for reserve currency, I don't think it has the potential to serve as money for most people around the world. Other types of cryptocurrencies will likely have to enter the fold and serve as crypto-paper money.

[ubercool]

The US cant handle the burden of keeping its Dollar as reserve currency for the world. This will going to implode the US economy sooner or later. There are many economists who have already predicted this about Dollar and we will be needing a reserve currency which is not the currency of some country.

[Mhd-Bobbi]

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.

Yes you are right, I also think that Bitcoin is an alternative currency as a substitute for making transactions, because using crypto currency makes it easier for all transactions, as I have now.

[Abiky]

Yes that's true bitcoin is getting more and more popular, and many other altcoin still depends on bitcoin a lot. Maybe because it's the first coin and it's not really easy to replace the first, moreover if the first is successful. But maybe other altcoin will have other chance later in the future. Begin to be better and doesn't depend on bitcoin anymore.
But i think although that means bitcoin is the best in cryptocurrency, it doesn't apply in the real world. Since i think usd is still better and it'll be hard to replace usd, although i like bitcoin a lot and i'll be happy if it becomes more popular than before.

Yes. USD being the current reserve currency of the world, would be too hard to replace in the future. I've once thought about Bitcoin becoming the reserve currency of the world, because of its increasing popularity over the course of time. However, I've found out that it'll be nearly impossible for the pioneer cryptocurrency to achieve said status unless it becomes centralized. Only then, governments and banks around the world could easily manipulate it and enforce AML at will. With Bitcoin's current state, it's impossible to track down every user with the purpose to freeze access to their funds.

This makes it unideal for a reserve currency of the world, unlike the USD which is backed by controlled by the US government. Eventually, as blockchain technology becomes studied by such entity, the USD could change from being a physical currency to being "digital cash". Then, the USD might remain as the reserve currency of the world in the future, or another currency would prevail over the USD.

Nevertheless, what matters is that Bitcoin has become a global currency which anyone could use without restrictions. It may not be the reserve currency of the world, but it's a store of value which has gained the trust of many people in the mainstream world over time. Just my thoughts

[PlusOne88]

For me it might not be that easy to fill the USD's role as a real currency. We know for a fact that indeed bitcoin is really a wonderful and useful cryptocurrency, yet we have to consider how quickly it can become very volatile which maybe bad for a currency. We also know that bitcoin is not being governed by anybody and therefore regulating the prices may just be difficult. We know how any government needs to have the power to regulate its own currency for economic balance. So for me it is too early for bitcoin to replace dollar or it might not really be a big possibility in the future.

[drachman]

I don't think so because no one has control over bitcoin. Government has no control of bitcoin because it is decentralized, unlike gold which has physical value and people can actually use it as a reserved currency.

Bitcoin is not that much different from gold with the difference that it has not physical form, but governments do not use bitcoin or gold as reserves because they are too comfortable with the fiat system they have created even if they know that at the end the system cannot sustain itself for long but they are fine with that since they have stole money from people for decades thanks to fiat.

[PointHope]

In some ways bitcoin already is a global reserve currency.

Particularly regarding the global BTCl network, which is already  well established.

Bitcoin doesn't need permission from government to be global p2p currency.

More and more people are waking up to what this means.

The giant fiat currency bubble looming over the entire world is going to go 'pop' fairly soon, imho!

[Abiky]

For me it might not be that easy to fill the USD's role as a real currency. We know for a fact that indeed bitcoin is really a wonderful and useful cryptocurrency, yet we have to consider how quickly it can become very volatile which maybe bad for a currency. We also know that bitcoin is not being governed by anybody and therefore regulating the prices may just be difficult. We know how any government needs to have the power to regulate its own currency for economic balance. So for me it is too early for bitcoin to replace dollar or it might not really be a big possibility in the future.

Yes. The US Dollar continues to be a strong currency that's trusted by many countries in the world. For it to be replaced, it needs to fall in value which is very unlikely. Even with the popularity of cryptocurrencies such as Bitcoin and Ethereum, no other currency has been able to replace the USD. For this and many other reasons, Bitcoin cannot be the reserve currency of the world anytime soon. While it's still practical and functional as a global currency that's easily accessible by anyone, it'll be nearly impossible for it to become the standard or reserve currency of the world because it's decentralized.

As such, a reserve currency needs to be controlled and manipulated by a central bank and a government. Since Bitcoin lacks these properties, no single entity could control its supply, or enforce regulations. Centralized currencies are the best bet for a reserve currency, and the USD fits the bill nicely. Whenever it'll still be the USD, or another currency like the Euro, we do not know for certainty. However, we do know that Bitcoin will continue to grow over time until it becomes a viable alternative towards Fiat.

Nevertheless, cryptocurrencies like Bitcoin are unpredictable and no one could know what will happen with them in the future. Whenever Bitcoin becomes a reserve currency (by becoming centralized) or not, it's yet to be seen. Just my opinion

[bolbau]

yup this makes more sense, that cryptocurrency will become the reserve currency in the world in the near future, because it is very difficult to convert conventional currencies to digital currencies in a global context in the near future, it is very risky to force all world people to change their money into crypto / bitcoin. I agree more if crypto and conventional currency are able to collaborate to provide benefits for the wider society.

[pinoyden]

yup this makes more sense, that cryptocurrency will become the reserve currency in the world in the near future, because it is very difficult to convert conventional currencies to digital currencies in a global context in the near future, it is very risky to force all world people to change their money into crypto / bitcoin. I agree more if crypto and conventional currency are able to collaborate to provide benefits for the wider society.

no it is not difficult to convert local currencies into digital currencies today , how much more if we are already in the future ? with the advanced technology and more inventions or innovations , im pretty sure that everything in the future will now be possibe and everything will be so easier .

bitcoin and other cryptos is not also a reserve currency because they arent only for display or for reserve because we are already using them on our daily lives .

it is very risky to force all world people to change their money into crypto / bitcoin.

why ? i dont  see any risk with it .  changing thier money to cryptos is actually more beneficial because they can do cool things like online shoping , paying ,  gambling , etc .

I agree more if crypto and conventional currency are able to collaborate to provide benefits for the wider society.

this is already  happening ,  crypto and local currencies are now working as one because we can exchange them vice versa .