Bitcoin could win the currency war

[Argoo]

I believe that the crypto (not Bitcoin alone) is winning the hearts of everyone all over the world. And if we talk about BTC only, it's being given very much importance in Google Search as it topped in Turkey while Lira (the currency of Turkey) falls over 15% in a day. I believe that an extremely hard competition for both paper and digital money (in fiat) arose after BTC got such huge recognition from major institutionalists as well as companies.

It doesn't really mean anything. Cryptocurrency has become more interested in terms of its price increase and frequent mention of it in the media. However, states will never switch to using a decentralized cryptocurrency. It is already clear that instead of cryptocurrency, they will use their digitized central bank currencies.
There has always been war and rivalry between the currencies of states and it will continue regardless of the availability of cryptocurrencies. But the states will always have cryptocurrency in the background after their own currency.

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[AndySt]

I believe that the crypto (not Bitcoin alone) is winning the hearts of everyone all over the world. And if we talk about BTC only, it's being given very much importance in Google Search as it topped in Turkey while Lira (the currency of Turkey) falls over 15% in a day. I believe that an extremely hard competition for both paper and digital money (in fiat) arose after BTC got such huge recognition from major institutionalists as well as companies.

It doesn't really mean anything. Cryptocurrency has become more interested in terms of its price increase and frequent mention of it in the media. However, states will never switch to using a decentralized cryptocurrency. It is already clear that instead of cryptocurrency, they will use their digitized central bank currencies.
There has always been war and rivalry between the currencies of states and it will continue regardless of the availability of cryptocurrencies. But the states will always have cryptocurrency in the background after their own currency.

This is not surprising, because to bet on a currency that you can not have any influence on will never be able to decide any large and strong state. Therefore, I am always very skeptical and distrustful of the thoughts of some people about the emergence of a single world currency, exclusively which all the inhabitants of the planet Earth will use, and especially bitcoin in this role. Institutional investors and large investors can trust cryptocurrencies as much as they want, but they will still operate and pay taxes in fiat currencies, because it is convenient for the state and because the state wants it so.

[24Kt]

I believe that the crypto (not Bitcoin alone) is winning the hearts of everyone all over the world. And if we talk about BTC only, it's being given very much importance in Google Search as it topped in Turkey while Lira (the currency of Turkey) falls over 15% in a day. I believe that an extremely hard competition for both paper and digital money (in fiat) arose after BTC got such huge recognition from major institutionalists as well as companies.

It doesn't really mean anything. Cryptocurrency has become more interested in terms of its price increase and frequent mention of it in the media. However, states will never switch to using a decentralized cryptocurrency. It is already clear that instead of cryptocurrency, they will use their digitized central bank currencies.
There has always been war and rivalry between the currencies of states and it will continue regardless of the availability of cryptocurrencies. But the states will always have cryptocurrency in the background after their own currency.

This is not surprising, because to bet on a currency that you can not have any influence on will never be able to decide any large and strong state. Therefore, I am always very skeptical and distrustful of the thoughts of some people about the emergence of a single world currency, exclusively which all the inhabitants of the planet earth will use, and especially bitcoin in this role.

Government will always choose a currency that they have full control of. And in case with cryptocurrency, they do not have that kind or power. So very low chance that it will be considered the major currency even few years from now. But of course, crypto can always co-exist with central bank's currencies. Local fiat most likely be the main currency, very likely that we will have this in our lifetime. Bitcoin adoption may grow, but it is hard to qualify this to be the major currency, when we talk of global influence.

[add1ct3dd]

When it comes to military, for sure the US has the strongest military there is right now, so I don’t think china is going to be competing in that area. This is not like the old days, and the US keeps on advancing. So, the Chinese is just going to keep trying to up their economy and that’s what they will be doing and the area they can be able to compete. As for Bitcoin, whatever these people are doing is just their own business, one thing I know for sure about Bitcoin is that no matter what it is going to keep on growing big every year, it’s not going to stop growing.

People are now starting to realize that the Bitcoin is the key to financial freedom. And governments around the world cannot stop people from making use of cryptocurrency, that won’t happen, people will still be able to make use of bitcoin even if it’s banned in their countries, that’s the good thing about it.

[LeastComicStanding]

Seeing comments about China vs US, as the post was a little convoluted in its purpose, or the title was misleading. Bitcoin can't possibly win the currency war, as it's terrible for that purpose. It may have its place as the original, but there are way better crypto options for a usable currency. Speedy transactions and low transaction fees come to mind immediately as cons for Bitcoin.

Maybe with additional development, but then it's possible that like with the Eth vs Bnb discussion, upgrades to the network may be "too little too late."

[Cling18]

Bitcoin has almost reached all the qualifications to win the currency war except for the acceptance by the government. It still needs more adoption for the world to recognize it as a top currency. However, that could possibly happen soon if people would prefer using it as a mode of payment and lots of huge establishments would adopt it.

[Kittygalore]

Why go to a war when we can easily coexist with other currencies plus in any form of war, there will always be a casualty and I don't think that a decentralized platform will be able to do it.

[mamahdedeh]

Bitcoin has almost reached all the qualifications to win the currency war except for the acceptance by the government. It still needs more adoption for the world to recognize it as a top currency. However, that could possibly happen soon if people would prefer using it as a mode of payment and lots of huge establishments would adopt it.

With this extraordinary price increase, of course, many people do not underestimate bitcoin anymore, moreover, bitcoin is considered a noble asset that is good for long-term storage. but indeed until now its main function as a currency has not been able to be fulfilled, because there are still many governments that oppose it as a means of payment, but do not prohibit their citizens from owning bitcoin

[GelatikKembar]

Bitcoin has almost reached all the qualifications to win the currency war except for the acceptance by the government. It still needs more adoption for the world to recognize it as a top currency. However, that could possibly happen soon if people would prefer using it as a mode of payment and lots of huge establishments would adopt it.

With this extraordinary price increase, of course, many people do not underestimate bitcoin anymore, moreover, bitcoin is considered a noble asset that is good for long-term storage. but indeed until now its main function as a currency has not been able to be fulfilled, because there are still many governments that oppose it as a means of payment, but do not prohibit their citizens from owning bitcoin

Bitcoin is indeed a great option for long-term investment and it has proven to be profitable,
from year to year we can see the price of bitcoin is getting up and it's really amazing,
I don't think all countries allow bitcoin to be a means of payment but we'll see what happens in the next few years

[sapnu]

We still cannot jump into conclusions and make statements like that considering the position of bitcoin at the moment. It may look good and it had a great price but still, there are a lot of things needed first before it can win the currency war. It is a decentralized currency so it will be difficult for many countries to tolerate the use of it. Many people might be boastful on bitcoin's position and they have all the reason to do so, but still we should know bitcoin limits for now, it may still change in the future actually.

[jaysabi]

Bitcoin is an exceptionally poor currency. It's expensive, it's slow, it doesn't scale... Nothing in the OP post supports the subject of the thread that bitcoin could win the currency war. Bitcoin will have to solve all three of it's major problems to win any type of currency war. Cash is superior in every aspect right now, and centralized payment systems are far superior to a decentralized blockchain system thus far. 

[fullhdpixel]

We still cannot jump into conclusions and make statements like that considering the position of bitcoin at the moment. It may look good and it had a great price but still, there are a lot of things needed first before it can win the currency war. It is a decentralized currency so it will be difficult for many countries to tolerate the use of it. Many people might be boastful on bitcoin's position and they have all the reason to do so, but still we should know bitcoin limits for now, it may still change in the future actually.

There is no country that can own Bitcoin, it’s not possible, so I don’t really see Bitcoin as a currency but a store of value. And if you look at the way that things are going with bitcoin you will see that it is becoming more of a store of value, because most people these days can’t really afford to use it for day to day transactions like they do before, unless you’re sending huge amount of money that you don’t do everyday.

But we do know for sure that Bitcoin is going to be growing and it’s going to reach a level where it will be one of the most valuable assets for anyone to own in the world, so those who have invested in it earlier are sure going to benefit from it, but it can’t be owned by any country, not China and not even the US can own it, it’s meant for the whole world and everyone is free to use it. So whatever kind of economy competition these countries have, it’s all up to them and Bitcoin is not part of it.

[conected]

Bitcoin has almost reached all the qualifications to win the currency war except for the acceptance by the government. It still needs more adoption for the world to recognize it as a top currency. However, that could possibly happen soon if people would prefer using it as a mode of payment and lots of huge establishments would adopt it.

With this extraordinary price increase, of course, many people do not underestimate bitcoin anymore, moreover, bitcoin is considered a noble asset that is good for long-term storage. but indeed until now its main function as a currency has not been able to be fulfilled, because there are still many governments that oppose it as a means of payment, but do not prohibit their citizens from owning bitcoin

- Well, maybe the main function that bitcoin owns has been completely hidden and then filled by another function, it was no longer considered a normal currency because the value of people's beliefs stimulated so much growth, it cannot be reduced and stabilized for us to spend, it is also one of the reasons governments are still actively opposed to bitcoin. Bitcoin has jumped into another battle, the currency war has lost all hope due to such problems, now it heads to the most outstanding investment war of the century, wishing to replace gold

[GeorgeJohn]

Bitcoin is an exceptionally poor currency. It's expensive, it's slow, it doesn't scale... Nothing in the OP post supports the subject of the thread that bitcoin could win the currency war. Bitcoin will have to solve all three of it's major problems to win any type of currency war. Cash is superior in every aspect right now, and centralized payment systems are far superior to a decentralized blockchain system thus far.  

All this points of yours really needs debate, saying that centralized currency is far preferable than decentralized currency, i think these really need more explanation or insights, it's accepted that centralized currency come into existence before digital currency, which digital can be decentralized currency, because looking at the current situation of nature it's obvious that people uses the digital system of payment which might be cryptocurrency and especially Bitcoin, so it's left to individual to decide for a means of payment, so am disputing the fact that fiat currency is superior than crypto, automatically it depends on the environment we found ourselves for transportation, many people currently accepts crypto because they use it for investment within short period.

[ven7net]

Indeed, this confrontation between the countries is going on right now and sooner or later, someone will lose, and someone will win. The question of where BTC is here also makes us wonder if everything is happening as we see it? Perhaps this is just a cover for something more. More recently, I studied information that said that the US economy is in a very bad state and the printing of new money only makes this system worse. Probably the appearance of BTC was not accidental and there is a possibility that BTC could become a safe haven for finance during the collapse of the dollar system. If so, then BTC is likely to see even more growth and success.

[andriarto]

Bitcoin is an exceptionally poor currency. It's expensive, it's slow, it doesn't scale... Nothing in the OP post supports the subject of the thread that bitcoin could win the currency war. Bitcoin will have to solve all three of it's major problems to win any type of currency war. Cash is superior in every aspect right now, and centralized payment systems are far superior to a decentralized blockchain system thus far.  

All this points of yours really needs debate, saying that centralized currency is far preferable than decentralized currency, i think these really need more explanation or insights, it's accepted that centralized currency come into existence before digital currency, which digital can be decentralized currency, because looking at the current situation of nature it's obvious that people uses the digital system of payment which might be cryptocurrency and especially Bitcoin, so it's left to individual to decide for a means of payment, so am disputing the fact that fiat currency is superior than crypto, automatically it depends on the environment we found ourselves for transportation, many people currently accepts crypto because they use it for investment within short period.

maybe from our point of view crypto is better than centralized currency, but here the problem is that there are government agencies that must certify if it is used as a means of payment. and they reject it for a number of reasons that may seem implausible to us. but whatever it is the government is the maker of the rules, and we have to do it in order not to break the law

[jaysabi]

Bitcoin is an exceptionally poor currency. It's expensive, it's slow, it doesn't scale... Nothing in the OP post supports the subject of the thread that bitcoin could win the currency war. Bitcoin will have to solve all three of it's major problems to win any type of currency war. Cash is superior in every aspect right now, and centralized payment systems are far superior to a decentralized blockchain system thus far.  

All this points of yours really needs debate, saying that centralized currency is far preferable than decentralized currency, i think these really need more explanation or insights, it's accepted that centralized currency come into existence before digital currency, which digital can be decentralized currency, because looking at the current situation of nature it's obvious that people uses the digital system of payment which might be cryptocurrency and especially Bitcoin, so it's left to individual to decide for a means of payment, so am disputing the fact that fiat currency is superior than crypto, automatically it depends on the environment we found ourselves for transportation, many people currently accepts crypto because they use it for investment within short period.

Well, point of clarification- I said centralized payment systems are better than bitcoin, and then second point is that because of bitcoin's inherent flaws, cash is a better type of currency.  An example of a centralized payment system is Visa or Square.  The payments are instantaneous, cheap and trustworthy.  Compare this to bitcoin where payments are slow, expensive and trustworthy.  Visa and Square are hands down better payment systems than bitcoin, it's not even a fair competition because bitcoin is so slow and so expensive.

As for my second point, because of how slow and expensive bitcoin is as a currency, cash is far superior to it.  Cash holds a steady value and is far easier to use.  Digital payment systems make up the one shortcoming cash has compared to bitcoin in not being able to be used online.

So those are my two points-  1) centralized payment systems are faster and cheaper than bitcoin, and 2) centralized payment systems make cash a far better medium for exchange.

[BIT-BENDER]

Literally when fiat stated to fall the price of Bitcoin will increase in terms of fiat value and also most the fiat started to fall due to the economic crash that is why they even wanted to make their own tokens before people moving towards decentralization.

I don't doubt this, on recent when the governor of the central bank of my country, Nigeria was called to answer why the institution placed a ban in crypto-currency in the country, as usual there was a defence from him, -although garbages of how crypto-currency has been the cause if so many crimes, fall or naira the country currency and so many more- but the real reason being the hate for Bitcoin, he also added that the central bank of Nigeria are in place in bringing out their own digital currency for the country, I am certainly not excited about this development, because it can't be decentralized.

[GeorgeJohn]

All this points of yours really needs debate, saying that centralized currency is far preferable than decentralized currency, i think these really need more explanation or insights, it's accepted that centralized currency come into existence before digital currency, which digital can be decentralized currency, because looking at the current situation of nature it's obvious that people uses the digital system of payment which might be cryptocurrency and especially Bitcoin, so it's left to individual to decide for a means of payment, so am disputing the fact that fiat currency is superior than crypto, automatically it depends on the environment we found ourselves for transportation, many people currently accepts crypto because they use it for investment within short period.

So those are my two points-  1) centralized payment systems are faster and cheaper than bitcoin, and 2) centralized payment systems make cash a far better medium for exchange.

Let us face reality and make a positive point towards this, because, if i may as ask, in what function centralized currency is faster or superior than decentralized currency? Secondly you said that fiat is preferable for exchange than decentralized currency.

So i stand to refute the point of exchange, when we say decentralized, automatically we are emphasising on cryptocurrency and directly to Bitcoin, so globally no exchange of any form that can no been done with Bitcoin, except that the environment is adamant or ignorant of digital facility, currently Bitcoin is used for so many exchange's in different countries.

[PIMPdev]

we have a difficult time now lets just hold though