The acceptance of cryptocurrency worldwide

[target]

The acceptance is slow and I guess its going to be overwhelming to the society if its abrupt. Its gonna be gradual just as it should. Credit card companies are slowly in transition.

The future global currency will not be based on Bitcoin or any of the current alts in my opinion. It will be a centralised virtual currency operated by the banking elite.

Yes, it could also be a centralized chain entirely controlled by the banks. Without decentralization, just focusing on security, they will utilize Blockchain technology for their work. China is doing the same, they are just admitting blockchain technology, there is no room for Bitcoin or any kind of altcoin in their system.

But its possible that government and central banks are going ot be using BTC as a reserve just like GOLD. We may be using a centralize cryptocurrency in the later years like the digital yuan of China but BTC will still be running and even the other altcoins we despise today they will still survive.

[Shasha80]

In the near future it is impossible for cryptocurrency to be accepted worldwide, because there are still countries that cannot accept
Bitcoin and some countries even prohibit the use of cryptocurrency. Although this fact is sad, the popularity of Bitcoin is gaining popularity,
made some countries that prohibit Cryptocurrency change their minds and start accepting cryptocurrency. Although only limited as a digital
asset. But this is a positive thing, that maybe Bitcoin will gradually begin to be accepted as payment. We really have to be patient so that
Bitcoin can really be accepted by all countries in the world.

[Inkdatar]

In my opinion, this will takes time that bitcoin to be accepted globally. We already observe this that some people doesn't know this cryptocurrency and even other countries prohibit the use of bitcoin. It's been discussed before the acceptance of the cryptocurrency and only we can do hope there will be an massive adoption on bitcoin to be happen in the future.

[Kasabus]

In my opinion, this will takes time that bitcoin to be accepted globally. We already observe this that some people doesn't know this cryptocurrency and even other countries prohibit the use of bitcoin. It's been discussed before the acceptance of the cryptocurrency and only we can do hope there will be an massive adoption on bitcoin to be happen in the future.

Bitcoin doesn't need to be a global currency at this early times but making it as another option of payment aside from fiat is already a great achievement for crypto. We cannot expect for the whole world to accept bitcoin and legalize it but this pandemic is an eye opener for all the thousands of people that bitcoin can be a great currency with its fast and convenient online transaction.

[FlightyPouch]

But unfortunately government doesn't operate decentralized coin and all the things are dependent on centralized local currency. Hopefully in future, Bitcoin and other major coin will be accepted by government.

I think we will all be seeing that future and to be honest, it is not that impossible to happen knowing that some countries are already accepting bitcoin and other crypto currencies as well. The problem is how will they make use of it like the problems told by @Slowdeath above. We are talking about its acceptance that is already happened/happening in some countries but how about it being adopted in certain scenarios. That just means it would be centralized if that happens.

[Sadlife]

It will, once the current monetary system collapses, then it will be the age of financial freedom, and its more efficient and secure than a centralized database that could be easily breach by malware. Where in the blockchain you need to have atleast 51% of hash power to steal or reverse the transaction. This pandemic made people more aware of Bitcoin, especially in major countries hit by the pandemic. One of this is france that transitioned to the use of Cryptocurrency for payments.

[LogitechMouse]

In my opinion, this will takes time that bitcoin to be accepted globally. We already observe this that some people doesn't know this cryptocurrency and even other countries prohibit the use of bitcoin. It's been discussed before the acceptance of the cryptocurrency and only we can do hope there will be an massive adoption on bitcoin to be happen in the future.

Bitcoin to be accepted globally isn't necessary as it is just an alternative currency next to the fiat currency that you can use to pay your bills or buy something.

You already saw that Bitcoin isn't used worldwide because some of the countries banned it especially the countries in Middle East and India possibly so lets not wait for the time that this will happen because I don't think that it will happen. Even though our technology is evolving, there are still some people who can't even have access to smartphones or anything used to access Bitcoin.

[lienfaye]

Though many countries legalized the use of crypto particularly bitcoin, there are still countries banned it. So this means worldwide acceptance are not possible at this time. The volatility has something to do why it cant be use as one of payment method unless the merchants are aware of this risk and still willing to accept crypto despite of these issues. I think there's no need to push through crypto to be recognize like fiat, as long as many people are using it (regardless of their reasons e.g investment/digital currency) its a good thing already because users are growing worldwide and there's a future possibility of acceptance for every country.

[Janation]

In my opinion, this will takes time that bitcoin to be accepted globally. We already observe this that some people doesn't know this cryptocurrency and even other countries prohibit the use of bitcoin. It's been discussed before the acceptance of the cryptocurrency and only we can do hope there will be an massive adoption on bitcoin to be happen in the future.

As you said, it takes time.

I don't think this will be a matter of knowledge or being a literate when it comes to technology but I think if a country is already a place where people could embrace new technologies easily, Bitcoin might be easily adopted. Most of the countries that are using Bitcoin are those with people used to technologies, that could support that way of transactions that just means that as long as there are countries that are struggling to support such technologies, I think it would take longer to accept Bitcoin and other cryptocurrencies.

[Max2140]

If all countries can accepted crypto currencies in there various countries, as a means of payment and as a means of online exchanges, such as money is, money is anything use as a means of exchange and general acceptable. With the means I think all cryptocurrencies (bitcoin) will definitely go round the world, and will be use as a means of exchange. I will be so grateful to the creation of crypto currencies. This will also help our future generation, Remember something when we do international transfer across the countries, it may take a while to get the money to your local bank account, but with cryptocurrency you can get instant reflection if bitcoin etc is transfer to wallet,And you can make use of your coin (bitcoin ETC).

Bitcoin is still a highly volatile asset and hence not much suitable as a medium of exchange, though it's really good as a store of value. Stablecoins can serve as a medium of exchange, including international transfers, as they can be easily pegged to USD. I believe that in the future, some digital assets (either stablecoins or any other crypto assets, not necessarily Bitcoin) will be used for global transfers and will successfully compete with traditional currency.

[shoreno]

I think there's no need to push through crypto to be recognize like fiat, as long as many people are using it (regardless of their reasons e.g investment/digital currency) its a good thing already because users are growing worldwide and there's a future possibility of acceptance for every country.

we still need to tell them that cryptos can work like a fiat especially to a people that dont tried to use crypto before because if we only tell them that crypto works better as an asset , chances are they will engage on this because of this reason alone  . what about merchants and other people that wants to use crypto on their store  . infact crypto acceptance can grew more with the help of merchants and people that use a crypto like a fiat because others will see it outside compare to when cryptos are hidden because they people only use it as investment .

[verita1]

When we got started in cryptocurrencies we were fascinated by being able to transact on global exchanges and then send funds to our bank accounts.
Something that with traditional sites was very tedious and inaccessible for some.

The freedom to manage your funds is great thanks to cryptocurrencies is OP's wish for all countries and future generations for which I agree with his thinking.

[Alert31]

What are your predictions? In what year will crypto be accepted worldwide?

Maybe after the year on which everyone is already educated in bitcoin and everyone already know modern technologies so that they can use bitcoin easily. If When? Then nobody knows, maybe after another 10years of crypto ,only tomorrow and the future can tell.

[wanted sliter]

The world's acceptance of cryptocurrencies will be certain when the majority of payment countries and services accept them. Bitcoin will be a global currency.
The problem is we have too many currencies and not all are accepted.
Another problem is that once it is accepted that global deposits will have overcrowding of cryptocurrencies due to too many transactions being sent. Their blockchain will slow down transactions and increase costs. There will be more solutions for cryptocurrencies in the future.

[hulla]

The future global currency will not be based on Bitcoin or any of the current alts in my opinion. It will be a centralised virtual currency operated by the banking elite.

If the future of global digital currency is not Bitcoin and current altcoin in the market then I don't see the world having a global digital currency due to the rules and regulations some countries which are different from each other not to mention the economy, bilateral trade and political foes happening between some countries.

[suzanne5223]

The future global currency will not be based on Bitcoin or any of the current alts in my opinion. It will be a centralised virtual currency operated by the banking elite.

If the future of global digital currency is not Bitcoin and current altcoin in the market then I don't see the world having a global digital currency due to the rules and regulations some countries which are different from each other not to mention the economy, bilateral trade and political foes happening between some countries.

The government negative viewpoint towards Libra which was introduced as a centralized global payment coin which was also supported by the big companies in the financial, e-commerce, and e-payment services should be enough for us to understand the government doesn't want a global digital cryptocurrency but national digital currencies.

[Rafiqul]

In the near future it is impossible for cryptocurrency to be accepted worldwide, because there are still countries that cannot accept
Bitcoin and some countries even prohibit the use of cryptocurrency. Although this fact is sad, the popularity of Bitcoin is gaining popularity,
made some countries that prohibit Cryptocurrency change their minds and start accepting cryptocurrency. Although only limited as a digital
asset. But this is a positive thing, that maybe Bitcoin will gradually begin to be accepted as payment. We really have to be patient so that
Bitcoin can really be accepted by all countries in the world.

I also agree with you, it is impossible to accept cryptocurrency worldwide in the near future. However, even though cryptocurrency is banned in many countries of the world, its acceptance and popularity, especially Bitcoin, is increasing day by day. The use of cryptocurrency has increased as people are confined to their homes due to the current epidemic.

[bitbunnny]

I think that the overall acceptance has increased and that the progress is visible but still that is not satisfying. However, this is a long process and we need to be aware that for many people Bitcoin is a novelty. Nothing happens over night and maybe there are still no full conditions for Bitcoin to be fully accepted.

[Sebas.tian]

Worldwide acceptance is still too low. There are a lot of problems with regulation and merchants adoption. And still, not so much people need it in general

Possibly, regulations around the cryptocurrency world wouldn't give the opportunity for the global adoption to take place. Until these stiff regulations are out of cryptocurrency world global adoption will be a big challenge, though there are good numbers of acceptance from the cryptocurrency but it adoption hasn't been felt. Hope to see some of cryptocurrency problems regarding regulations be solve within a short period of time.

[Nhebu]

If all countries accepted bitcoin and other altcoins as may currencies then it would be a win-win situation for us pioneers. However, it might also possible to have regulation to the asset that we handle. Just like imposing of laws like tax when you are earning specific amount of cryptocurrency. Well, it is good for me as long as the money will goes to the project of the government and not to their pocket.