Will bitcoin end the dollar’s reign?

[0t3p0t]

For me it depends on the technology we embrace from physical to digital and it will evolve until the next trend and adoption of currencies. Nowadays, we are approaching to cashless so we don't yet what is next.

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[Maslate]

For me it depends on the technology we embrace from physical to digital and it will evolve until the next trend and adoption of currencies. Nowadays, we are approaching to cashless so we don't yet what is next.

Fully converted to digitalization and cashless mode of payment? That is too early to think that. Fiat money will still there, only we have this cashless payment option to cut a long line and hassles but this is not enough to stop using it. Banks could be in trouble if that will happen and I don't think that they allow it nor the government will support such changes. 

[geegaw]

Bitcoin can not end any currency, since bitcoin is as yet very little famous among us. Half of the world doesn't know what actually bitcoins is and those who know about bitcoin accuse it of a scam. Also, how would we purchase bitcoin if the cash gets end?. We won't be able to exchange. For me, dollars or any cash ought not to end. It might make a few issues and hurt the bitcoin itself as well.

Indeed, the era of a currency that was produced by nations could not easily collapse just because of the emergence of virtual currencies such as bitcoin, the government will not allow this alternative to happen, for a strong economic country like the US, they will stop bitcoin if it really threatens them. Besides, the knowledge about bitcoin is still very limited as you say, many people are still unclear about the use and purpose of bitcoin, even for bitcoin users, Bitcoin has always been a tool to invest and accumulate, widely used currency has never been a concept for bitcoin

[rosebrand]

The US dollars has been in reign for a very long time without any currency taking over, but surely it won't reign forever, it will be replaced by another currency but I don't think bitcoin will be the currency to put an end to the US dollar reign. Bitcoin is a digital currency which is controlled by no one and up till date it's still stand as a threat to many governments, it's obvious that many government will surely fight against bitcoin being the global currency

[jasonjm]

I think this is too early to say, global trade is happening in USD and is the strongest currency in the world and BTC will not and can not replace dollar in global trading. Bitcoin mass adaptation is still very far and with its volatility and limited supply it can never end USD reign.

[taufik123]

I think this is too early to say, global trade is happening in USD and is the strongest currency in the world and BTC will not and can not replace dollar in global trading. Bitcoin mass adaptation is still very far and with its volatility and limited supply it can never end USD reign.

to end it and replace the USD government would not be possible, that's an obvious fact. But Bitcoin is able to compete with FIAT and become an optional payment system to choose from. The mass adaptation of bitcoin is still not fully implemented, only a few companies are using it. As recently trending, Tesla bought $ 1.5 billion in bitcoins which then made the price of bitcoin rise drastically.
FIAT and Bitcoin will continue to co-exist, and regulations vary from country to country.

[Renampun]

Bitcoin will not be able to take over the reign of the dollar...
USDT is a stable coin that is deliberately circulated as an alternative payment via cryptocurrency. but the thing that suits me is 'Bitcoin will take over the reign of gold'.

[aprilnot]

will never happen, because the government will not want to adopt something they have no control over. bitcoin will not be able to replace FIAT at any time. so forget about thinking like this. the government will go to great lengths to make their currency the number one choice, one way is to make crypto burdensome regulations, as it is today.

[adzino]

Bitcoin can not end any currency, since bitcoin is as yet very little famous among us. Half of the world doesn't know what actually bitcoins is and those who know about bitcoin accuse it of a scam. Also, how would we purchase bitcoin if the cash gets end?. We won't be able to exchange. For me, dollars or any cash ought not to end. It might make a few issues and hurt the bitcoin itself as well.

"Very little famous"? You are kidding right? It is no longer unknown. I bet almost everyone has heard about bitcoin. The news is everywhere. Social media, mainstream media, magazines and where ever you go, you will see and read about crypto currencies. Walk around a crowded city and you will see a Bitcoin ATMs one after another.
Big companies are investing in bitcoin. Well known and famed people are talking about it. It's no longer a "secret".

Bitcoin can not end any currency

It won't. At least not in the next few decades.

[SmokerFace]

Bitcoin can not end any currency, since bitcoin is as yet very little famous among us. Half of the world doesn't know what actually bitcoins is and those who know about bitcoin accuse it of a scam. Also, how would we purchase bitcoin if the cash gets end?. We won't be able to exchange. For me, dollars or any cash ought not to end. It might make a few issues and hurt the bitcoin itself as well.

[goldade]

When the pandemic hit, the US dollar was as mighty as ever. Despite talk of faltering American supremacy, the dollar ruled as the medium of international trade, the anchor against which other nations value their currencies, and the “reserve currency” most central banks hold as savings.
Before the US, only five powers had enjoyed the coveted “reserve currency” status, going back to the mid-1400s: Portugal, then Spain, the Netherlands, France and Britain. Those reigns lasted 94 years on average. At the start of 2020, the dollar’s run had endured 100 years. That would have been reason to question how much longer it could continue, but for one caveat: the lack of a successor.

Read the article @ https://www.ft.com/content/ea33b688-12e0-459c-80c5-2efba58e6f1a

At the time of writing this thread there was no paywall at Financial Times for this article 

I am of the opinion that bitcoin cannot and will not end dollars reign. At best, both will exist side by side, complementing each other.
One of your point of argument is that dollar is stronger because other currencies are pegged against it. You should, however, also realize that bitcoin itself is also pegged against the US dollar which give the dollar an edge over bitcoin.
Bitcoin can't also be number one currency as it's too young for that. Half of the world do not have a clue as to what bitcoin is and even half of those that know consider as scam. Bitcoin is still growing and maybe, just maybe, it might become the number one currency.

[geegaw]

Bitcoin can not end any currency, since bitcoin is as yet very little famous among us. Half of the world doesn't know what actually bitcoins is and those who know about bitcoin accuse it of a scam. Also, how would we purchase bitcoin if the cash gets end?. We won't be able to exchange. For me, dollars or any cash ought not to end. It might make a few issues and hurt the bitcoin itself as well.

Quite plausible, although bitcoin is still a topic that is being covered by countries and is being talked about a lot on social networks but in general, things are still not correct, even many media are exaggerating about bitcoin, and when bitcoin faces a large currency community like the dollar, with support from the United States, it is difficult for bitcoin to have a chance of winning. Ultimately, bitcoin is just the source of digital currency investments, real values are not stable and accurate, it cannot live independently without the currency of the world, keeping the same position as now is better

[Obito]

Bitcoin can not end any currency, since bitcoin is as yet very little famous among us. Half of the world doesn't know what actually bitcoins is and those who know about bitcoin accuse it of a scam. Also, how would we purchase bitcoin if the cash gets end?. We won't be able to exchange. For me, dollars or any cash ought not to end. It might make a few issues and hurt the bitcoin itself as well.

Even if the whole world knows about bitcoin, there isn't enough for everyone and bitcoin has a big shoe to fill in if it were to replace dollar as a standard reserve currency for many countries, many will try to accumulate as much and there will be not enough bitcoin to go around. We need to realize that what we are asking is impossible to be honest, bitcoin replacing dollar is BS because bitcoin hitches its value on dollars.

[jaresmerel001]

Bitcoin will probably help or speed things up, hopefully replacing its reserve currency status, but even if bitcoin wasn't here, the dollar is toasting. You can replace a dollar with a fiat if you want..

[dupee419]

We still haven't seen a single government using Bitcoin as a reserve currency, many of them haven't even fully legalized/regulated it. Without it, Bitcoin can't become a replacement for US dollar. Plus, US dollar is also a very popular method for international trade, and Bitcoin with its less than 1 million transactions per day simply can't scale for that. If US dollar had fallen today, some other fiat currency would take its spot, most likely Euro.

This is true, hardly, almost every country mainly uses fiat, and because of how volatile Bitcoin is, I don't think that it can replace dollar, and with over centuries, USD has been existing ever since, although, with technology rapidly evolving, so does crypto, it's not impossible for Bitcoin to reign over dollar and fiat.

[Shasha80]

It's too early to say Bitcoin will end the dollar reign, because until now there are still many countries that haven't accepted Bitcoin as payment.
Moreover, the US Dollar is still the choice for international trade, so the popularity of the US Dollar is still above Bitcoin. Therefore I'm not sure
Bitcoin will end the dollar reign, a more plausible possibility Bitcoin will co-exist with the dollar. After all, the government can't possibly let Bitcoin
replace the dollar. But it's possible that in the future Bitcoin will end the dollar reign, but it takes a while for this to happen.

[cheezcarls]

When the pandemic hit, the US dollar was as mighty as ever. Despite talk of faltering American supremacy, the dollar ruled as the medium of international trade, the anchor against which other nations value their currencies, and the “reserve currency” most central banks hold as savings.
Before the US, only five powers had enjoyed the coveted “reserve currency” status, going back to the mid-1400s: Portugal, then Spain, the Netherlands, France and Britain. Those reigns lasted 94 years on average. At the start of 2020, the dollar’s run had endured 100 years. That would have been reason to question how much longer it could continue, but for one caveat: the lack of a successor.

Read the article @ https://www.ft.com/content/ea33b688-12e0-459c-80c5-2efba58e6f1a

At the time of writing this thread there was no paywall at Financial Times for this article 

I hate to say this but Bitcoin will never replace the US dollar as the world’s reserve currency. Elon Musk’s Tesla did mention that they want to include Bitcoin in their balance sheet. The city mayor of Miami is also pushing for businesses to accept Bitcoin as well. It’s not easy for them to end the dollar’s reign though, and it will not happen very soon enough. 

[Dancing_Coin]

Perhaps this will happen, but not as soon as we would like it to be. As someone wrote above, some countries have not yet accepted Bitcoin as a payment method, and this is indeed the problem. But I enjoy seeing that more and more people are talking about bitcoin, many companies are entering the crypto industry.

[MWesterweele]

Bitcoin can not end any currency, since bitcoin is as yet very little famous among us. Half of the world doesn't know what actually bitcoins is and those who know about bitcoin accuse it of a scam. Also, how would we purchase bitcoin if the cash gets end?. We won't be able to exchange. For me, dollars or any cash ought not to end. It might make a few issues and hurt the bitcoin itself as well.

As i have also bet so, bitcoin do have its own significance in an area where it belongs but that doesn't mean that it will surpass or worst end the dollar's reign because dollar still a fiat currency. Though we couldn't predict when the dominance of dollar currency in the world market would lasts but still dollar was a fiat currency and it also excell in an are where it belongs. Maybe bitcoin could become one of the currency exists in the world hopefully.

[Kong Hey Pakboy]

Perhaps this will happen, but not as soon as we would like it to be. As someone wrote above, some countries have not yet accepted Bitcoin as a payment method, and this is indeed the problem. But I enjoy seeing that more and more people are talking about bitcoin, many companies are entering the crypto industry.

We're really not sure about that. We all know how dollar lasted, and bitcoin, a cryptocurrency (we all do know that its price is unstable) will be reigning over it. Bitcoin is not even known yet by the whole world. It has a very long way to go before we can say the statement the OP has stated. There are lots of factors to consider before this can be concluded.