Will Bitcoin become the reserve currency of the world?

[Lumi3004]

Bitcoin digital currency, meaning: Bitcoin is intangible, or held and touched.
Bitcoin is sold and bought based on the country's legal currency, for example, one Bitcoin price $... To be traded in certain countries.

In this case it is impossible for bitcoin to become one of the world's reserve currencies, because all countries now have their own currencies, to be officially traded.

[syarifbitcoinishack]

I think so, when the USD starts to strengthen and other Fiat weakens, there are some countries that suggest switching it to Bitcoin
although Bitcoin is currently not legal in all countries but I believe in the future Bitcoin will be an alternative solution to avoid the impact of the world economic crisis

[Abiky]

Hard to replace US Dollar as currency reserve. Bitcoin is decentralized system and its need more than regulation from government to be world reserve. But i do believe bitcoin is good long term investment like gold

That's certainly true, mate. For Bitcoin to become the reserve currency of the world, it would need to become centralized and regulated by the government. Otherwise, it would be nearly impossible for Bitcoin to achieve said status as it's decentralized. The huge factor which prevents Bitcoin from becoming a reserve currency of the world is the huge volatility in prices. Hence, if Bitcoin would've been more stable, then it could've been used more as a currency than as a store of value, IMO.

However, as well as you do, I believe that Bitcoin is a great investment for the long term like Gold. Eventually, people will demand the pioneer cryptocurrency once more, resulting in new ATHs that were never seen. While this is not indicative of Bitcoin becoming a reserve currency, it'll mean that Bitcoin would become extremely popular as an alternative currency from traditional Fiat.

I think bitcoins will eventually become the world's reserve given that it reaches a certain amount of supply that it can finally reach every sector of the world including the poor. I guess we'll have to wait a little more and wait in the background of it all. We can expect bitcoins may achieve such feat.

Instead of becoming the world's reserve currency, it could become the global currency of the people within the future. Bitcoin is decentralized now, which makes it unfriendly to banks and governments worldwide. Unless it becomes centralized for any reason, I don't see it becoming the reserve currency of the world. I've once thought about such possibility but given the fact that centralized Fiat currencies are too dominant in the mainstream world, it's very unlikely that Bitcoin will become a reserve currency within the future. In the end, the reserve currency of the world will be the US Dollar (as it is right now) or another currency with greater spending power than the USD.

[FunGate]

A cryptocurrency will inevitably become the global currency of the virtual life, or the internet, where an increasing amount of people are residing, but I don't think it will be Bitcoin. It will begin with cryptocurrency in general and then everyone will gradually lean towards an altcoin with more benefits.

I think we're heading towards an organized virtual shared reality of sorts in which value will predominantly be exchanged in a digitized, global society. Playing a part in traditional countries would be outdated, unsustainable and obsolete. Not going to happen for another few generations though.

[Shiversnow]

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? 

Bitcoin already recognize as currency that can be use in different transactions but thinking about bitcoin as reserve world currency is hard to predict because there many things that could happen in the near future. Even bitcoin already use by many countries still we can't remove our traditional money which is fiat.

[btc78]

Looking at the quality and the technology of this virtual currency,maybe there is a possibility of bitcoin to become a reserve for the worldwide currency.
But the problem is,would be the dollar allow this to happen?as we know the stand of the US government in every circumstances.well this maybe declared in future since this too early to tackle

[hulla]

Bitcoin is virtual currency, it decentralized, it very volatile and it a liberation of common from the government. Therefore, there is no chance for bitcoin to be world currency reserve because the government will want to force and control bitcoin to the extent of changing the protocol led by Satoshi when he implemented bitcoin.

[Stac]

Bitcoin is one of the greatest invention of the century by Satoshi Nakamoto for the benefit of the global community to their daily requirement which can be operated world wide .Bitcoin has a strong net work system with the modern technology. It is the first crypto currency which introduces a modern economical concepts through out the world but it is found totally contrary to the present form of economy  which we follow at present.The crypto currency or bitcoin is found deem suitable to the modern era.Since bitcoin will not effect any type of inflation this can be operated parallel to the official currency where the countries are in financial crash down. Bitcoin could help to overcome some countries of the world while they were effected severe financial crash down to their economy like Greece, Japan and Brazil etc. In such a circumstance bitcoin can be used to support the  financial stability of any country while they are in trouble so bitcoin  as a reserve currency of the world.

[Abiky]

As of now, the United States Dollar is acting as the reserve currency of the world. Replacing it is not a very easy task. But if Bitcoin gets more acceptability in the future, then there is a chance of that happening.

If you look at Bitcoin's current model, it's decentralized. This means that it's impossible to become the reserve currency of the world in its current state, as no one can control its supply or issue the same. For Bitcoin to achieve its status as a reserve currency, it would need to become centralized without a doubt. Only that way, governments could easily manipulate it by either issuing more coins (inflation) or restrict access to the same. Like I said before, I once thought that Bitcoin could become a reserve currency of the world because it was growing in popularity.

However, upon realizing that most governments have been against decentralization, it's hard to believe that Bitcoin will become the reserve currency of the world anytime soon. Despite this, the US Dollar might continue to be the world's reserve currency for quite some time. Even if the US Dollar gets displaced in the future, cryptocurrencies like Bitcoin won't get chance of becoming the world's reserve currency. Instead, another centralized Fiat currency issued by the government will take the lead in case the USD fails. It could be the Euro, the GBP, the Yen, or even the Chinese Yuan.

[Dimas99]

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.

maybe what you are saying is that it is true that bitcoin was created as a crypto currency that uses technological advancements and developments in the past and all possibilities can happen even maybe the crypto currency becomes a fiat currency reserve currency

[serjent05]

Well some of what you’ve said is true but if bitcoin will be the world reserved currency who then will take responsibility of managing it since not all accepts it and no one govern over it because of its decentralized feature? That will be complicated.

[ChinkyEyes]

Given past precedents, the USD should collapse in our lifetime (unless you are like 70 years old I guess) and we should see it within a decade or two.



The USD has already had a good long run and it's now on discount time. I don't believe the USD is any different from former attempts, it will not magically last another 100 years... it must burst and it will burst one way or another. It is then that the elites will have to decide if they want to enter another fiat clusterfuck or they want a neutral global asset class like BTC, and I believe BTC will be it, which will make BTC worth $1,000,000 each if you still want to value it in USD (due the debt default which is funnily enough around $21 trillion just like the total amount of 21 million BTC.

It's gonna stay marginal (at some level). At worst it could be used as virtual money for a video game (I don't remember the name: second life ?) At best it will remain a virtual currency used by geeks or by those looking to hide their funds (taxes evasion or other reasons) or on the darknet. that said, (besides that bitcoin needs to have a minimum value of $213,000 to hit to replace the US money supply)

Bitcoin is global. It could be worth $213,000 without necessarily replacing the US money supply, so no problem about that.

One of the best posts in this thread, would merit if I could. I fully agree that USD will not last much longer, so that begs the question which currency is going to take over? It's either going to be Yuan or Bitcoin. With all the investments and innovation plans China has from now till 2050 it's going to be a serious contender to the throne.

When we keep innovating, newer and better technologies emerge. AI, robots, IOT and much more are going to radically change the way we live right now. So imagine a super advanced future, I don't think we will still be using a FIAT currency as reserve currency. Perhaps USD will be replaced by the Yuan in the coming years and will eventually be replaced by Bitcoin.

[chuoinguyen227]

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? 

The current time will be bitcoin will not be a cash of the current, but you need the bitcoin to be future. There are an existing but more much of the bitcoin, it will not be able to the current cash. The future of bitcoin bitcoin will be used overflow and no such water

[miltonpogi]

Reserve currency? I don't think so because Bitcoin is base on internet which cannot be controlled. I think Bitcoin would end up as a way of payment only or an alternative currency in a certain country. That's what I think about it. Also, new cryptocurrency might sprung that could beat Bitcoin one day.

[Pan Troglodytes]

I think not. I think bitcoin supply in the whole world is too low compared to the total amount of fiat present per country and around the world. I can't agree that bitcoins can be the next world currency but it can be the building blocks for the coming world currency. Bitcoins have laid the foundation.

I don't agree with your argument. It is always good to have a currency which is protected against inflation. If you believe that the total supply (21 million) is too low, then we can do a redenomination  and split 1 BTC to 1,000 new BTC. Then the total supply would be 21 billion coins.

There is no need to do that. Bitcoin was created to be divisible to the 8th decimal digit (1 satoshi) exactly to be able to address the issue Abikyi is rising.

[Utuhikan]

I think that someday it is very possible for bitcoin to become one of the world's currencies that will be taken into account and will be used globally like a dollar. Now it's been proven that every day there is an increase in bitcoin users. They use bitcoin because bitcoin offers convenience, speed and mercy in transnational transactions. In contrast to fiat currencies that require too high taxes and procedures that are also less simple. However, bitcoin and fiat currencies cannot replace each other. The two currencies will work together to complement their functions.

[Rashid555]

With time bitcoin and blockchain have made the market very stable and it is good for business transactions which were difficult and time consuming in the past now it is very easy for every one to pay online with in seconds and if you are used to investment many of new crypto are in the market with a high KYC value so it is the world reserve currency that when there is a shortage of money in fiat with you you can use this as well for your need.

[Abiky]

Reserve currency? I don't think so because Bitcoin is base on internet which cannot be controlled. I think Bitcoin would end up as a way of payment only or an alternative currency in a certain country. That's what I think about it. Also, new cryptocurrency might sprung that could beat Bitcoin one day.

That's certainly true, mate. Still, the benefits of a reserve currency that goes beyond borders are numerous. With the inception of Bitcoin and Blockchain technology, it's possible that a reserve currency would become accessible by anyone around the world as it used the Internet and Blockchain technology. However, Bitcoin and most cryptocurrencies would not fit the bill nicely due to their decentralized design. A centralized cryptocurrency such as Ripple (XRP) might well serve the purpose as the reserve currency of the world since it can be easily manipulated by governments.

Now the question will be whenever the US Dollar will remain as the reserve currency of the future or not. If it becomes replaced by another currency, then it would probably be the Euro or the Sterling Pound. However, one thing for sure, is that such currency will make use of a Blockchain for security, transparency, and borderless transactions. Just my opinion

[damar09]

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? 

maybe it will take a long time and requires some long discussion because global finance will still refer to real money while bitcoin is money that comes from the digital world and maybe someday if bitcoin can be applied into real currency, and it will happen that bitcoin can make global currency reserves

[ocid]

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.

Bitcoin is only an alternative world currency and not a world reserve currency because its existence is difficult to accept throughout the world to be inaugurated by all countries. even so, bitcoin can help overcome the economic problems of a country so that many are used by its users as an alternative world currency