Bitcoin could one day be a preferred currency for conducting international trade

[mamamu111]

According to analysts at Citibank, Bitcoin could one day be a preferred currency for conducting international trade.. READ THE FULL ARTICLE HERE: https://worldpublicityblog.com/index.php/2021/03/04/according-to-analysts-at-citibank-bitcoin-could-one-day-be-a-preferred-currency-for-conducting-international-trade/

[1714556499]

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[rat03gopoh]

There is a common saying, "the future starts now."
Maybe they mean large-scale trade. In fact, we have started the future of international trade with bitcoin payments for a long time through this forum. And citibank also needs to venture further to various market sites in the world, especially dark web.

[boyptc]

Well, that's your blog. Right?

What Citi is telling is already happening and they've just said that it could increase greatly by this time. It is a fact that bitcoin is already being used in international trade, in many kinds of trade.

[DdmrDdmr]

The fundamental pillars to their conditional ("could") claim, are depicted on pages 83 and 84 of their full report, and are describes as bitcoin having a:

Borderless Design <…>
Lack of FX Exposures <…>
Faster, Potentially Cheaper Money Movement <…>
Secured Payment <…>
Traceability <…>

They analyse the set of past and present evolution of bitcoin, the set of services that have been created and matured overtime, and take a peep at what the future may layout, amidst some uncertainties. The report does not solely focus on bitcoin as a currency for international trade, but also explores the venues of its role as digital gold, a new type of payment system, and its role as a crypto North Star.

Full report:
https://ir.citi.com/_tpHpW8MfaZ1QXwGmP1JGMGXXI95qXm3IMJzUJScLMb6XIjtOls6EbDehXMR3B_o9Opi7mdc5tQ%3D

[100bitcoin]

According to analysts at Citibank, Bitcoin could one day be a preferred currency for conducting international trade.. READ THE FULL ARTICLE HERE: https://worldpublicityblog.com/index.php/2021/03/04/according-to-analysts-at-citibank-bitcoin-could-one-day-be-a-preferred-currency-for-conducting-international-trade/

TBH, Bitcoin is more of an asset than a currency.

[Dave1]

According to analysts at Citibank, Bitcoin could one day be a preferred currency for conducting international trade.. READ THE FULL ARTICLE HERE: https://worldpublicityblog.com/index.php/2021/03/04/according-to-analysts-at-citibank-bitcoin-could-one-day-be-a-preferred-currency-for-conducting-international-trade/

TBH, Bitcoin is more of an asset than a currency.

Depends though, maybe there are people using it as a asset and then some passing it as a currency for cross border payments, which I think was one of the reason why Satoshi created it in the first place. So what the report says could be happening already, as you can send bitcoin or even other crypto's across the border. Specially in the sector of remittances, wherein crypto will shine the most.

[arwin100]

According to analysts at Citibank, Bitcoin could one day be a preferred currency for conducting international trade.. READ THE FULL ARTICLE HERE: https://worldpublicityblog.com/index.php/2021/03/04/according-to-analysts-at-citibank-bitcoin-could-one-day-be-a-preferred-currency-for-conducting-international-trade/

It's just analysation but hard for massive implementation since I don't know if majority of traditional merchants and other big institution to allow this remember fiat system rooted so much on economy so bitcoins will really get a hard time on this plus we have a big problem with volatility since if someone manipulate this well it's a huge mess for company who invested so much on bitcoins.

[mk4]

TBH, Bitcoin is more of an asset than a currency.

It really doesn't matter what you think(and I'm saying this in a polite and an non-aggressive way). Not because bitcoin is mostly used as a hedging asset(SoV) and as a speculative investment, it doesn't mean that some other people or companies wouldn't be able to use it as a currency.

[DapanasFruit]

This is a strong possibility but for this to happen there are many factors that must be in place. Maybe if one day the volatility of Bitcoin can be significantly reduced, it can help it to become the preferred choice in international transactions. And merchants between countries have to be persuaded to ditch the USA Dollar in exchange for Bitcoin. We therefore need a critical good rate of adoption between countries for Bitcoin to be the prime choice of currency for international business.

[mk4]

Maybe if one day the volatility of Bitcoin can be significantly reduced, it can help it to become the preferred choice in international transactions.

Assuming that:

• bitcoin continues to grow in marketcap from here
• government regulations finally calm down
• various governments worldwide make up their minds on what their stance is with Bitcoin and cryptocurrencies in general
• bitcoin becomes more available to other countries and cities worldwide

then it's a pretty safe assumption that volatility will decrease to some extent. I think it's highly likely.

[Jet Cash]

I believe that increased HODLing will maintain volatility, and the limited supply of Bitcoin is being collected in long terfm wallet holdings.

Internation trade is most likely to be conducted using some form of IMF credits as global corporatism increases.

[orions.belt19]

While most people are viewing Bitcoin as a store of a value, Citi has elaborated on how Bitcoin's technology still has great potential and how it has great influence. Bitcoin can very well inspire new business models emerging in the blockchain. More and more companies are utilizing the blockchain technology and digital assets. Blockchain development is becoming a more in-demand skill. The report made by Citi is entitled "Bitcoin: At the tipping point" which is very fitting as I view crypto to be on the brink of major breakthrough especially with all these continuous development and institutional adoption.

[milani]

According to analysts at Citibank, Bitcoin could one day be a preferred currency for conducting international trade.. READ THE FULL ARTICLE HERE: https://worldpublicityblog.com/index.php/2021/03/04/according-to-analysts-at-citibank-bitcoin-could-one-day-be-a-preferred-currency-for-conducting-international-trade/

First of all nowadays Bitcoin is the most preferable already for lots of people. In future may not everyone will choose Bitcoin for international trade, it is hard to say exactly, because lots of factors and things may appear or chsnge, but definitely the biggest amount of trading volume will be in Bitcoin.

[coolcoinz]

Sure, it's possible that one day it's going to be used the way described in the article but for that to happen countries would have to create legal frameworks and treat bitcoin transactions as binding.
I feel like the most common use of bitcoin will be holding followed by a high value transfers made by the private sector (companies and wealthy individuals). Nobody is going to use bitcoin to buy a pizza but it's going to be your first choice when you decide to buy a private jet or an island.

[kryptqnick]

Bitcoin can indeed be good as means of payment for international transactions because they are especially costly and take a lot of time when processed by banks in the form of fiat. Even with the currently high fees, it can be beneficial to make transactions in BTC when they cost, say, $1k or more, and it would be especially beneficial for big financial deals. However, the article unnecessarily says that Bitcoin will either become used for international trade or the price will collapse. Both can happen at the same time, or neither of these things might become the case.

[ChrisPop]

Well, this fact is pretty obvious. Bitcoin enables its users to make almost instant transfer from one part of the world to the other with insignificant fees. Especially when you're making transactions worth millions of dollars, a few bucks in fees is basically nothing.

The average joe is benefiting from this feature as well. Some might argue that the transaction fee on Bitcoin is sometimes too big for normal day-to-day transaction, but we all know that seldom happens. Though, I am confident that Ligthning network will solve this issue.

[ReiMomo]

~snip~
Though, I am confident that Ligthning network will solve this issue.

Looking forward to this feature that can be work and I hope the biggest institution will use this. There's nothing way to lessen the fee, if the fee is the problem, how this digital currency becomes international trade if the purpose of others is to keep this and treat it as a valuable asset the way they earned profit.

There could be an evolution of this project anytime soon and at that time it could be bitcoin is globally used as a currency, but now, I don't see any potential that it will happen then as an asset where you store the value.

[GeorgeJohn]

According to analysts at Citibank, Bitcoin could one day be a preferred currency for conducting international trade.. READ THE FULL ARTICLE HERE: https://worldpublicityblog.com/index.php/2021/03/04/according-to-analysts-at-citibank-bitcoin-could-one-day-be-a-preferred-currency-for-conducting-international-trade/

TBH, Bitcoin is more of an asset than a currency.

Bitcoin is an assets to some people but not am assets to some people, because not everybody invest in cryptocurrency especially bitcoin, because only people that know Bitcoin as an assets is people who knows the rudiments of bitcoin for longtime, currency advert are backsliding because of the level of castigation people talk about cryptocurrency, most especially in all these countries that their government restrict cryptocurrency transaction's via countries currently, so I think with such measure people will not like to invest with Bitcoin again.

[Darker45]

It seems Citibank is predicting the past. The truth of the matter is that this is not something that could happen one day in the future. This is already happening right at this very moment. This has already happened years before.

It may not be as popular or mainstream but it is currently happening. It is not big news because it doesn't involve a lot of people. But to those who are regularly into cross-country remittances, never mind if they don't involve millions, this is already a preferred currency. I heavily relied into Bitcoin myself as an expat years ago.

[Rruchi man]

According to analysts at Citibank, Bitcoin could one day be a preferred currency for conducting international trade.

A problem of  international trade has always been the difference in currency. World economist are driving at a solution which involves a single currency accepted worldwide, bitcoin could be that currency. But first, before it can achieve such, it's price valiue has to meet a stable point.