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Author Topic: Does Bitcoin have a place in the future of finance as a global currency?  (Read 327 times)
nischal123
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September 18, 2018, 03:47:14 PM
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Personally In short, yes, I do believe we will transition towards it and hit a lot of walls along the way while we find acceptance and mass adoption but I believe we’ll eventually hit a point where most of those walls become insurmountable and that’s when the alternatives start to show up..

We’ll start to see various coins battling for the top and it will almost assuredly be an amazing time in our world.


Either way, we’re in for a ride and in the mean time, those individuals saying we’ll hit $50,000 on Bitcoin are not wrong. We’re already on our way now.
I suppose not investing Bitcoin means losing free money everyday. Soon I will see my mother shopping with Bitcoins And i believe world will have a single currency that is Bitcoin.

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September 18, 2018, 04:31:31 PM
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Personally In short, yes, I do believe we will transition towards it and hit a lot of walls along the way while we find acceptance and mass adoption but I believe we’ll eventually hit a point where most of those walls become insurmountable and that’s when the alternatives start to show up..

We’ll start to see various coins battling for the top and it will almost assuredly be an amazing time in our world.


Either way, we’re in for a ride and in the mean time, those individuals saying we’ll hit $50,000 on Bitcoin are not wrong. We’re already on our way now.
I suppose not investing Bitcoin means losing free money everyday. Soon I will see my mother shopping with Bitcoins And i believe world will have a single currency that is Bitcoin.



no

it will not become a global currency, i will become just one of many pow token cults,

and they wont be very popular or successful as well

no one but bitcoin miners and owners have an interest supporting it. anyone else has to live with the burden of electricity wasting and internet propaganda from it. so there will be constant opposition

bitcoins popularity only existed because people wanted an open financial market.

bitcoin as global currency would mean a world like this: the picture is called "the pethahash trillionaire"

https://i.imgur.com/tJxLvfm.png

BitCoinDream
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September 18, 2018, 05:01:18 PM
 #3

IMHO, Bitcoin does not qualify as a currency. It is more of an asset and a medium of exchange.

vionas
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September 18, 2018, 05:03:59 PM
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Is the value of bitcoin stable, of course not. The unstable value of bitcoin will be a risk if bitcoin becomes a global currency. You can see, the decline in bitcoin this year has made many people frustrated because of the losses they face. Well, if bitcoin becomes a global currency and there is a decline like this, then the economy will fluctuate.
Wulanayu
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September 18, 2018, 05:08:48 PM
 #5

Yes, I really believe that digital money will be the future and of course bitcoin is digital money that will be used throughout the world.
You don't need to worry about the future of bitcoin because in modern times digital money is money that is used so you don't have to worry if you want to invest for the long term now.

figmentofmyass
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September 18, 2018, 05:22:12 PM
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no one but bitcoin miners and owners have an interest supporting it. anyone else has to live with the burden of electricity wasting and internet propaganda from it. so there will be constant opposition

the idea is that "owners" become a larger and larger group over time, as mass adoption takes over. after a certain point of market acceptance, the naysayers can't avoid it. just like they can't avoid the gold market. if it were purely up to governments, there would only be fiat money. instead, governments have gold reserves among other assets.

the jury is still out regarding mass adoption, though. Wink

bitcoins popularity only existed because people wanted an open financial market.

isn't that proof enough that demand will continue to exist for bitcoin? what can provide open transparent p2p markets without third party/government intrusion, and do it better than bitcoin?

Gozie51
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September 18, 2018, 05:22:46 PM
 #7

The challenges of cryptocurrency like internet access might be the hedge but definitely, I will say yes to the topic :
Does Bitcoin have a place in the future of finance as a global currency?

but I believe we’ll eventually hit a point where most of those walls become insurmountable

I believe you mean surmountable... I might be wrong though.

chidrawarster
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September 18, 2018, 06:07:34 PM
 #8

The days are not far when btc will be accepted as a global currency.Only thing is the regulation has to fall in place before that happens and in no time we will see that as well soon.But the main thing is people will accept btc in various usages once it goes through the regulation and also worldwide acceptable feature will enable its momentum more and more.Lets wait for what its gonna provide to the users in future.

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September 18, 2018, 11:17:39 PM
 #9

Its hard to say. if there is no fluctuation, and bitcoin not used as "take profit and leave" tool, it is likely that bitcoin has its place in the global currency. bubble and fluctuations become a frightening specter for investors because things inside can disrupt economic stability if it continues.

gilangIDR
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September 18, 2018, 11:25:28 PM
 #10

Yes, Bitcoin has a very good place and also has a very bright future to be applied as a digital financial system. The use of Bitcoin which has increased at this time has proven that Bitcoin has a lot of users and now we are all in the stage of development. Gradually, it will create an digitalization ecosystem in the world financial system. Bitcoin can be a perfect system and is very possible to be used in everyday financial transactions.
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September 18, 2018, 11:47:42 PM
 #11

I sincerely think its time we come out of the shell, and call a spade a spade, bitcoin stand no chance in becoming a global currency, it can only serve as a substitute.
Bitcoin has usability limitations while local currency don't, and this is why fiat currency will always be ahead of bitcoin.
Sinone
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September 18, 2018, 11:53:37 PM
Last edit: September 19, 2018, 03:48:07 AM by Sinone
 #12

I can't predict it, because it is a very unreal thing and I think Bitcoin won't be as a global currency. It is not easy to be a global currency. Bitcoin has millions of fan but bitcoin has millions of hater too. Already 20 Big countries banned bitcoin, it is too volatile, from 20K to 5800 USD proved many bad sides of bitcoin. How can it be a global currency? We love and live with bitcoin, not the rest of the world.

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bloodyvio
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September 18, 2018, 11:59:27 PM
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I think it's difficult for bitcoin to be a world currency
because not all countries currently agree with the existence of bitcoin or crypto

9jaflick
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September 19, 2018, 12:01:51 AM
 #14

IMHO, Bitcoin does not qualify as a currency. It is more of an asset and a medium of exchange.
Clear and simple,  imagine buying 2pack of chocolates with bitcoin worth approximately $5, going back the next day to buy same chocolates the shop keeper now tells you that, the amount on bitcoin you used in buying chocolate yesterday can no longer get You one chocolate today how will you feel? Crazy!

Come to think of it,  can one actually buy a chocolate with bitcoin? Considering the transaction fee attached to it.
cellard
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September 19, 2018, 01:28:04 AM
 #15

Personally In short, yes, I do believe we will transition towards it and hit a lot of walls along the way while we find acceptance and mass adoption but I believe we’ll eventually hit a point where most of those walls become insurmountable and that’s when the alternatives start to show up..

We’ll start to see various coins battling for the top and it will almost assuredly be an amazing time in our world.


Either way, we’re in for a ride and in the mean time, those individuals saying we’ll hit $50,000 on Bitcoin are not wrong. We’re already on our way now.
I suppose not investing Bitcoin means losing free money everyday. Soon I will see my mother shopping with Bitcoins And i believe world will have a single currency that is Bitcoin.



no

it will not become a global currency, i will become just one of many pow token cults,

and they wont be very popular or successful as well

no one but bitcoin miners and owners have an interest supporting it. anyone else has to live with the burden of electricity wasting and internet propaganda from it. so there will be constant opposition

bitcoins popularity only existed because people wanted an open financial market.

bitcoin as global currency would mean a world like this: the picture is called "the pethahash trillionaire"

https://i.imgur.com/tJxLvfm.png

There is an in my opinion rather obvious incentive for states to own bitcoin reserves. States will always want to own reserves of something neutral to hedge against other states failures and their own failures, theirs an endless variables and thus reasons you want something neutral.

Turns out that now we have bitcoin as a gold substitute. Some may argue that it isn't, but the longer bitcoin survives the bigger the incentive will be to hold it.

I don't think the positives of bitcoin vs gold need to be mentioned again and if you can't see them for yourself then think harder.

As far as mining goes, it's a competitive market, monopolies come and go.
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September 19, 2018, 02:23:43 AM
Last edit: September 19, 2018, 02:35:59 AM by gentlemand
 #16

It needs to become other things - asset, store of value among others - before it can become a currency. And even then because it's designed to be deflationary hardly anyone will want to use it as a currency if they have an alternative.

In certain strata of society other things are as good as currency but will be roundly rejected by others not in the know. When I used to hang out with scumbags pot was as good as money. That wouldn't really work paying your electricity bill. That could be where BTC ends up.

ksupriya94
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September 19, 2018, 02:30:28 AM
 #17

Yes, I also think in future bitcoin act as a global currency but there will be some regulations of government because without regulations any government will not allow bitcoin to act as a currency.
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September 19, 2018, 03:12:35 AM
 #18

I do believe we will transition towards it and hit a lot of walls along the way while we find acceptance and mass adoption but I believe we’ll eventually hit a point where most of those walls become insurmountable and that’s when the alternatives start to show up..We’ll start to see various coins battling for the top

i disagree. "hitting a wall" is not going to make altcoins rise up. altcoins need to be good and useful in first place to be able to rise up and sustain that rise.
as an example you can look at something similar that happened last year. bitcoin started having higher and higher transaction fees. that was one of those "walls" you are talking about. altcoins started getting pumped because of it but then they started showing their real faces with all the problems that surfaced because of that small increase in their usages. and now as you can see they are all going back down to their real low values because they couldn't sustain  it.

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September 20, 2018, 02:42:18 AM
 #19

I feel sure about the future of bitcoin. i think bitcoin will soon be accepted as a global currency
IndigoRed
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September 21, 2018, 02:32:21 AM
 #20

Bitcoin may not YET replace fiat, but it already is a global currency. Real economy will reside with what constitutes, the productive class –that means, the people who are actually doing the real work. And it is a fact that bitcoin already is being used worldwide as a store and exchange of real world value. Bitcoin is already functioning as a world reserve currency.
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