Will Bitcoin become the reserve currency of the world?

[loragean03]

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

Maybe Bitcoin in the future will be a reserve currency for all or maybe it will be used as an alternative currency, if its value is acceptable as equal to the present currency or more, because the government will surely make their own crypto currency in the future, but who knows? It could be the opposite.

[CryptoMoar]

the world reserve currency is a currency held in large amounts by the government and includes a part of foreign exchange. and since the 20th century the USD has been established as the strongest reserve currency. and in my opinion bitcoin will not be able to replace the position of the dollar. because even though bitcoin is now popular and many know it, there are still many countries that reject bitcoin. whereas to become a world reserve currency must be approved by other communities and countries and also decentralized bitcoin.

[Bonsaiav]

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? 

Inevitably bitcoin's indeed the most widely used cryptocurrency than other cryptocurrencies, this thing is evident from the many service providers or exchanges that serve bitcoin selling/buying transactions wherever we are.

Now the development of Alt-coin is no longer dependent on bitcoin, because of the many facts that show, that the growth of cryptocurrency is actually very dependent on most of its active users.

Bitcoin is very likely to be used as a reserve currency especially for countries affected by inflation, such as Zimbabwe and other countries. But also, bitcoin will function as a parallel moving currency along with the fiat currency.

[popolite11]

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

Maybe Bitcoin in the future will be a reserve currency for all or maybe it will be used as an alternative currency, if its value is acceptable as equal to the present currency or more, because the government will surely make their own crypto currency in the future, but who knows? It could be the opposite.

It will be very difficult to make Bitcoin a reserve cryptocurrency. In the places, where people do not use the Internet or even do not know about it, BTC is simply useless. This crypto can become an alternative currency.

[Abiky]

Inevitably bitcoin's indeed the most widely used cryptocurrency than other cryptocurrencies, this thing is evident from the many service providers or exchanges that serve bitcoin selling/buying transactions wherever we are.

Now the development of Alt-coin is no longer dependent on bitcoin, because of the many facts that show, that the growth of cryptocurrency is actually very dependent on most of its active users.

Bitcoin is very likely to be used as a reserve currency especially for countries affected by inflation, such as Zimbabwe and other countries. But also, bitcoin will function as a parallel moving currency along with the fiat currency.

You do have a point there, mate. Bitcoin works well as a "reserve currency" for third world countries, mostly because their currencies are worthless. For example, in Venezuela, people have been using Bitcoin as a hedge against their traditional Fiat currency. Since the Bolivar currency is highly inflated, their only choice to gain greater spending power is via the use of Bitcoin itself. Since the pioneer cryptocurrency is not issued by any central authority such as a Bank or a Government, its value is dependent on the people itself.

The unique characteristics of Bitcoin assimilates those of true Gold. That explains the reason why many people in countries like Venezuela, and even India, have been using Bitcoin for their daily needs. However, because Bitcoin is decentralized, some governments have been opposing it every step of the way. India has announced that it will ban Bitcoin and cryptocurrencies altogether, while Venezuela has shown a certain level of opposition against Bitcoin. Because of this, Bitcoin cannot be the reserve currency of the world, leaving the path open for centralized fiat currencies such as the US Dollar and the Euro.

However, if Bitcoin becomes centralized, then there's a huge possibility that it might become the world's reserve currency in the future. Banks and governments worldwide will embrace the cryptocurrency, as it's truly a unique form of digital gold. Until then, only Ripple has a higher chance of becoming the world's reserve currency if it becomes adopted by many banks worldwide. Just my thoughts

[Pan Troglodytes]

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

No I don't think it will be either the Euro nor the Sterling Pound. They are all the same - fiat currencies with their value derived from debt. If the US dollar gets dethroned, they are all really only the equivalents.

I think it will be Special Drawing Rights or CO2 certificates or something exotic just as those. Or maybe bitcoin. Or maybe we will go back to gold standard. We'll have to see when it happens (not if it happens)

[bitcoincitr]

US Dollar will be the reserve currency in the future. If it was replaced by another currency, it would be Euro. For their security and borderless transactions, cryptocurrencies will also be used. But it does not make it a candidate for being reserve currency.

[Chairul Muttaqin]

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 will never become the reserve currency of the world. All countries will prefer like to hoard gold. Now USD is not so good as reserve currency, the value of USD is always decreasing and bitcoin price is unpredictable so gold is the only one choice for those countries who want to make sure their country economy good.

[Pab]

Look what is happening today and you have answer
Currency with that kind of liquidity to be global currency it is joke i guess
Forex is trillions dollars market all crypto market is just about 1% of  global assets
Bitcoin is also mot currency what you can buy with any crypto worldwide almost nothing
If will be possible to make daily shopping with crypto in most countries of the world we can talk about bitcoin is currency but global not possible at all

[Bes19]

Might be or not but for me, it's hard to make it as the reserve currency since bitcoin is decentralized and no one can have a control over it. Some countries or government might disagree on making it as their currency. They still prefer gold than cryptocurrency.

[coinholic]

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 has been foretold that a cashless economy or society will emerge. The US$ and majority or all of the world's known legal currencies will seize to exist. Bitcoin may be decentralized and that the government may not have any or full control over it, but I'm pretty sure they'll find a way to identify who owns BTC and then try to manipulate these people or even worse, force them to give up their holdings. This may be far into the future, but it is the most probable thing I see will happen.

[Rudi Setya]

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

Maybe Bitcoin in the future will be a reserve currency for all or maybe it will be used as an alternative currency, if its value is acceptable as equal to the present currency or more, because the government will surely make their own crypto currency in the future, but who knows? It could be the opposite.

It will be very difficult to make Bitcoin a reserve cryptocurrency. In the places, where people do not use the Internet or even do not know about it, BTC is simply useless. This crypto can become an alternative currency.

I see with the growing number of users this makes Bitcoin Bitcoin as good deals as an alternative to money.
 so in most parts of the world became a mainstay in the Bitcoin coin a good exchange to run and get a lot of welcome from everyone.

[Snaic]

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?  

No, Bitcoin or any other decentralized cryptocurrency can never become a reserve world currency. It will be used primarily by individuals, that is, individuals and as a means of payment between individuals and legal entities. It is unlikely that states and their bodies will use bitcoin in international relations and in their domestic activities. There are many reasons and the most basic among them is the decentralized nature of Bitcoin and its high price volatility.

[Abiky]

It has been foretold that a cashless economy or society will emerge. The US$ and majority or all of the world's known legal currencies will seize to exist. Bitcoin may be decentralized and that the government may not have any or full control over it, but I'm pretty sure they'll find a way to identify who owns BTC and then try to manipulate these people or even worse, force them to give up their holdings. This may be far into the future, but it is the most probable thing I see will happen.

Probably. However, there's a slight possibility that Fiat currencies will continue to exist within the future. Given how difficult it is to stop decentralized cryptocurrencies such as Bitcoin or Ethereum, governments would still support Fiat over crypto. Traditional fiat currencies would simply shift towards a blockchain system (either public or private) for the masses to use. The benefits of this would be greater transparency, eco-friendliness (no need to print paper money which is harmful to the environment), and convenience (by not having to carry cold-hard cash at all).

As such, I believe that a centralized fiat currency has better chances of becoming the world's reserve currency than Bitcoin. Right now, the US Dollar has the lead, but everything could change anytime soon. No matter what fiat currency it'll be, one thing for sure, is that the economy will become fully digitized within the future.

Nonetheless, it's best to name Bitcoin as the “People's Currency” rather than the “World's Reserve Currency”. If it remains decentralized, then it'll remain with that title for many years to come. However, if it doesn't, then the chances of becoming the world's reserve currency would be greater than before. Just my opinion

[kawetsriyanto]

I think bitcoin cannot become the reserved currency of the world as long as all countries or most countries in the world don't accept it yet. It needs the agreement of many countries to be a reserved currency.
It will be hard to happen since these factors:
1. Bitcoin has limited number
2. The price is unstable and volatile
3. It's decentralized
4. Every country has different exchange rates of national currency
5. Bitcoin has been widespread with various anonymous holders
  

[Kotone]

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 hope so as imo the supply is good for economic sense (or do I have a good sense about it). But comparing to gold that the supply is yet unknown plus the difficulty to trace and mine, bet on the one that is finite and measurable.

[Abiky]

I think bitcoin cannot become the reserved currency of the world as long as all countries or most countries in the world don't accept it yet. It needs the agreement of many countries to be a reserved currency.
It will be hard to happen since these factors:
1. Bitcoin has limited number
2. The price is unstable and volatile
3. It's decentralized
4. Every country has different exchange rates of national currency
5. Bitcoin has been widespread with various anonymous holders
 

Good points. Based on this, Bitcoin could never become the reserve currency of the world. Its highly decentralized design, and open nature, makes it terrible as a world currency for the manipulation of banks and governments worldwide. While this is true, I do believe that Bitcoin will better fit its purpose as the People's Money in the future. Of course, it has its limitations, but over time, it's hoped that the pioneer cryptocurrency would improve in many ways, making it much easier to access it anywhere in the world.

One thing for sure is that the clock is ticking, which means that sooner or later, traditional fiat currencies (such as the USD) will transition into a blockchain of their own. The US Dollar has long obtained the trust of people worldwide, and that's why it’s been the reserve currency of the world for quite some time. Becoming a digital currency with its own blockchain backed by the US Government's Federal Reserve, would bring the US Dollar many benefits such as transparency, eco-friendliness, and more. As such, it should only be a matter of time before this becomes a reality since after all, Blockchain tech is posed to improve into a scalable and secure system for the masses.

Nonetheless, what matters most is that decentralized cryptocurrencies such as Bitcoin or Ethereum, have remained as viable alternatives towards Fiat. In any case fiat fails, then decentralized cryptos would become the number one choice for many individuals across the globe. Just my opinion

[Nolimitz84]

It has been foretold that a cashless economy or society will emerge. The US$ and majority or all of the world's known legal currencies will seize to exist. Bitcoin may be decentralized and that the government may not have any or full control over it, but I'm pretty sure they'll find a way to identify who owns BTC and then try to manipulate these people or even worse, force them to give up their holdings. This may be far into the future, but it is the most probable thing I see will happen.

Probably. However, there's a slight possibility that Fiat currencies will continue to exist within the future. Given how difficult it is to stop decentralized cryptocurrencies such as Bitcoin or Ethereum, governments would still support Fiat over crypto. Traditional fiat currencies would simply shift towards a blockchain system (either public or private) for the masses to use. The benefits of this would be greater transparency, eco-friendliness (no need to print paper money which is harmful to the environment), and convenience (by not having to carry cold-hard cash at all).

As such, I believe that a centralized fiat currency has better chances of becoming the world's reserve currency than Bitcoin. Right now, the US Dollar has the lead, but everything could change anytime soon. No matter what fiat currency it'll be, one thing for sure, is that the economy will become fully digitized within the future.

Nonetheless, it's best to name Bitcoin as the “People's Currency” rather than the “World's Reserve Currency”. If it remains decentralized, then it'll remain with that title for many years to come. However, if it doesn't, then the chances of becoming the world's reserve currency would be greater than before. Just my opinion

name The “People's Currency” is really more suited to bitcoin.Let's now imagine for 1 minute that there is no Fiat money in the world.No government in the .world will dream of the greatness of their country and the value of their money.And if this is so, then no country will have a “military doctrine,” that is, there will be no wars.Is it necessary for the quiet life of all mankind.Bitcoin will give everyone the opportunity to understand that we all live on the same planet and under the same sun.With the help of the Internet, people have become closer to each other. The next stage will be Bitcoin. And this will not be the reserve currency but the main and only one.

[Vishnu.Reang]

There is only one reserve currency in the world and that is gold. This has been the case for the past hundreds (or even thousands) of years. A relatively new entrant like Bitcoin has no chance in breaking this monopoly.

[Sawadekub]

Reserve currency is the generally accepted currency in the world, which is used to create a reserve of funds in the central banks of other countries for the purpose of international settlements. Initially, the reserve currency was the British pound sterling, which played a major role in international payments. Together with the pound sterling, the US dollar gradually began to be used as an international payment and reserve currency, which soon became dominant.
The euro is the second reserve currency in use.
If we dig deeper, we can see that over time, the role of the reserve currency was occupied by different monetary systems. Now also several monetary systems are claiming this role.
Monetary relations are constantly evolving and becoming more perfect. Now in this area came electronic money. Therefore, sooner or later the time will come when an electronic reserve currency will be needed. I think that Bitcoin may well take this place.