Will bitcoin end the dollar’s reign?

[pinggoki]

The thing that is for sure is that the bitcoin will not end the dollar reign and bitcoin will be just an alternative currency and will never be an main currency. I don't think that the reign of Dollars will end because if this happens then probably bitcoin will be not an efficient as like as before. Remember that bitcoin is also depending on dollar meaning the value of bitcoin is based on dollar so if dollar ends then the price of bitcoin may probably ends also.

[randegibran]

Not any reason why make bitcoin end and replace by USDT because many investor looking most working way how to increase money and have the same function like bitcoin, I think USDT have any few percent price change but with using bitcoin you can get much profit and always have higher chance with bitcoin price change, you can check today, tomorrow or next year how bitcoin value from now.

[matchi2011]

The thing that is for sure is that the bitcoin will not end the dollar reign and bitcoin will be just an alternative currency and will never be an main currency. I don't think that the reign of Dollars will end because if this happens then probably bitcoin will be not an efficient as like as before. Remember that bitcoin is also depending on dollar meaning the value of bitcoin is based on dollar so if dollar ends then the price of bitcoin may probably ends also.

It serve the purpose being use as alternative to this financial institutions, bitcoin will continue as it is, it won't
replace dollar maybe not for now.

If ever adoption take place, it will still needs lots of time before most people around the world will understand
this new system, for now the reign still the same for dollar.

[dunfida]

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.

Does it really need a successor? No it doesnt because dollar run wouldnt just endured 100 years but rather on upcoming decades and centuries to come as long government do exist.
In the mindset on believing that bitcoin is ending up on dollars reign then they should at least consider on comparing both things.There's no way for a digital currency(decentralized)
would ever replaced a thing that had been used and trusted up on very long years.
It not just right to presume up things about replacing stuff because in no matter what angle we do tend to check or see then those probabilities are nearly to 0%.

[DooMAD]

Think of it this way:

Parachutes generally don't crash planes.  Life rafts generally don't sink ships.  They're simply a means to escape the scene of the accident in relative safely.  Bitcoin is a bit like that, except not just for emergencies.  You can use it outside of a crisis too.

That said, depending on your stance, you could technically argue that the global financial crisis has been ongoing since 2007 and has shown no signs of abatement.  Maybe it's fair to say no one has ever used Bitcoin outside of an emergency?   

[XCANA]

The US dollar reign won't be forever as nothing under the earth or on this planet earth will last forever. In time to come, i mean in future there will be more alternative coins that will definitely top some of these top fiats currencies, though they might not be Bitcoin per se but something with finite supply and can be regulated by countries. Bitcoin can't be regulated, therefore countries are afraid in mingling with the technology.

[ChrisPop]

It is hard to comprehend by our minds because a change in the global monetary system happens so rarely, but we must be aware of the fact that we have entered a new era. Fiat currencies and our current financial system is old and needs a major upgrade.

The change is needed as economies around the world are so fragile right now. Bitcoin and DeFi represent solutions to the reorganisation of monetary structures and debts around the world.

[chaoscoinz]

One of the most scariest things about Bitcoin and cryptocurrencies is the fact that it is a step into the unknown and uncertain. A lot of people that do support Bitcoin didn't at first. I didn't decide to get involved into Coinbase had first opened up its doors. Yes, I know, I missed the ticket to the moon, like many others before me. I do believe cryptocurrency may be the future of currency, because it is a paradigm shift in the way we do things in finance.

[Becky666]

That won't be possible becasue the US dollars has world powers behind it. The only thing the dollar should be afraid of should be one of the fiats currency that will first make entrance into the digital currencies. Bitcoin won't bring an end to the dollar but will definitely help the currencies in future. Maybe war will be that which will bring the US dollar to an end IMO, but can't see that means which the war will erupt.

[Matimtim]

In my own observation about this situation, bitcoin to day has not enough power to supplanted dollar as the king or primary currency in the whole world, because dollor is more popular than bitcoin.

Bitcoin will supplanted dollar if all people in this world stop using dollars or even other local currency and use bitcoin as one and only currency , but I think i this thing will happen, maybe after more years and generation if the government pass a laws commanding their people to use bitcoin instead of using their local money.

[slaman29]

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.

In fact, we don't even know if the dollar will NOT last, it's been here for a period of time that's already longer than some economists predicted, it's truly been the first global money that everyone accepts everywhere (for good and for bad), and there is just so much interest in it I can't see it going away.

It's even still if you go to Bitcoin marketplace, everything still priced in dollars!

[Lily Garver]

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  

Bitcoin can certainly provide an alternative.  It is more likely that statism or authoritarianism (socialism, fascism, communism, totalitarianism etc) will undermine the dollar with bitcoin being there to pick up the pieces vs bitcoin causing it.

As soon as they start debasing fiat currency, it is lost.  

The dollar hasn't hit a century of being fiat yet, a reserve currency based on some objective value can last as long as the political class doesn't debase it.

it's just a matter of time. or maybe dollar will perpetuate it's fiat status on the expense that it declines in exchange. bitcoin is a globally recognized currency and USDT is relatively fairer than dollar. we all know that America has printed multitudes of dollars, very sensational and dishonest. others countries will certainly try every means to dodge dollar and choose bitcoin!

[JillianTaft]

Whether Bitcoin existed or not, the Dollar will end the Dollar's reign.   

Fiat currencies don't last forever.  They can't.  With all debt-based money, eventual failure is an integral part of the recipe.  It's just how they function.  Some last longer than others, but they will all approach worthless at some point.

More likely the Federal Reserve will end the Dollar's reign,by mass printing more dollars.
Anyway,the US dollar might not be a world's reserve currency after 10-20 years,but it will remain the national currency of USA,as long as USA continues to exist in the next centuries.
USA still has the strongest economy in the world,which means that the US dollar will still be very strong,even though it won't be a reserve currency for many central banks around the world..

emmm...I don't think dollar will be that strong as you said. since the authorities get crazy in money printing, they will know that dollar will devalue consequently. and other counties are not fools who still accept the current exchange rate...

[aesma]

The dollar will end the dollar's reign. Why would you hold dollars if it can be printed without limits ? Some countries are forced by the US to trade in dollars, oil producing countries for example, but I see this changing. There is no reason for the dollar to have any role when an European country buys something from the Middle East, for example.

[best123]

I don't think, bitcoin will end the reign of Dollar. But what I know for sure is as time passes more adoption will be recorded. Covid-19 was a special catalyst to the increased in price.

[Asusnumbaone]

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 think no because the bitcoi currency is lack of authority no government can control the bitcoin unless government will ban it but i think bitcoin its hard to banned because of the potential of its It will never replace dollar because of many reasons.

[NeverSop]

Bitcoin may strike central bank obsolescence and destroy inflation barriers to make the social economy more flexible as a decentralized bank, but it will not be a measure to  annihilate money dollars.  The dollar remains the strongest fiat currency, the required coffers are creating retention and authority, it involves many governance issues in order to bring stability to the people.  The problem lies in the weakness of the banks in the process of stabilizing and maintaining the economy.

[Khaos77]

Whether Bitcoin existed or not, the Dollar will end the Dollar's reign.   

Fiat currencies don't last forever.  They can't.  With all debt-based money, eventual failure is an integral part of the recipe.  It's just how they function.  Some last longer than others, but they will all approach worthless at some point.

And if the US Government Seizes all bitcoin of all US citizens, and then backs the US $ with it,
then your conclusions of the dollar demise are void.   

[DooMAD]

Whether Bitcoin existed or not, the Dollar will end the Dollar's reign.   

Fiat currencies don't last forever.  They can't.  With all debt-based money, eventual failure is an integral part of the recipe.  It's just how they function.  Some last longer than others, but they will all approach worthless at some point.

And if the US Government Seizes all bitcoin of all US citizens, and then backs the US $ with it,
then your conclusions of the dollar demise are void.   

I've seen you make some stupid posts before, but this one truly is special.  You really must be running out of arguments if this is the straw you're clutching at.  The infinitesimally small chance of this happening aside, there will never be enough bitcoins to back all the money they keep printing.

[BevNation]

And if the US Government Seizes all bitcoin of all US citizens, and then backs the US $ with it,
then your conclusions of the dollar demise are void.   

Is this even possible, US government seizing all the citizens bitcoin and backing it with dollar as bitcoin exists on wallets for which you can't tell who has or uses one following the anonymous nature of cryptocurrency investors.
Should the above scenario be possible, it could have serious effect on a negative base to bitcoin.
Well, dollar will always rain supreme being the resrved currency so long as America remains as world power.