FINALLY ALL MONETARY AUTHORITIES IN THE WORLD WILL ADOPT BITCOIN

[AmoreJaz]

This is wishful thinking. The goal of fiat is to maintain control over the financial system of the world. Due to its flexibility and being a way easier tool to manipulate depending on the current economic situation, governments would surely like to keep it that way for a long time until a new 'better' system that retains the flexibility of fiat arises. They can't do this in bitcoin, thus making it near impossible for them to adopt it even in the next 100 years. Sure they are warming up to bitcoin and other crypto given the potential of these digital financial tools/assets, but I don't see them integrating it directly on their financial system.

Agreed, it is naive to think governments do not know all the damage they do with their fiat currencies to the people, they use them precisely because it allows them a great control over their population and over the whole economy on itself, bitcoin is not going to change this, even if the whole economy collapses tomorrow and people decided to adopt bitcoin as fast as they could governments can just force you to use their fiat even if you do not want it and they will keep their fiat in power even if they have to use force to get this done.

thats why, even two decades from now, we will still have our fiat as main means of financial transaction. i dont think btc or any other crypto will dominate the financial area. maybe the adoption will increase but it will just co-exist with fiat. dont think that the govt will fully abandon the use of fiat. thats not gonna happen. just my 2 cents.
and the OP is misleading users by his title thread. a lot of countries are still treating bitcoin as illegal like bolivia, bangladesh and iran. just to name a few.

[electronicash]

thats why, even two decades from now, we will still have our fiat as main means of financial transaction. i dont think btc or any other crypto will dominate the financial area. maybe the adoption will increase but it will just co-exist with fiat. dont think that the govt will fully abandon the use of fiat. thats not gonna happen.

it will be replaced with digital currency though, it's still considered fiat which they are all developing these days for their CBDC. its very alarming but this is where they are going just as how the Chinese are doing it. the world will test the CBDC of Chine by the time Olympics starts. it's going to be held in China and tourists going there will try it for the first time. if BTC will be adopted and coexist with fiat, there will be possibilities that CBDC will allow its users to trade digital assets like BTC.

[AndySt]

thats why, even two decades from now, we will still have our fiat as main means of financial transaction. i dont think btc or any other crypto will dominate the financial area. maybe the adoption will increase but it will just co-exist with fiat. dont think that the govt will fully abandon the use of fiat. thats not gonna happen. just my 2 cents.
and the OP is misleading users by his title thread. a lot of countries are still treating bitcoin as illegal like bolivia, bangladesh and iran. just to name a few.

Bitcoin will dominate the financial sphere only if states take it under full financial control, and I don't see any real reason for this, because there are already well-established traditional fiat currencies for such purposes. Also, if bitcoin comes under the full financial control of the state, then it will no longer be bitcoin with its some degree of independence from the traditional financial system and bitcoin will no longer be of interest to ordinary people.

[sheenshane]

I would love to hear it if Bitcoin has been accepted and considered by the main authorities in monetary.  But honestly, I don’t really know that authority exists.  Correct me if I’m wrong.

Each in every country has its own Finance Departments that handle and manage the finances.  But it doesn’t mean they have the decision which assets can be considered for monetary.  It’s still going the be the consumer who would choose.  Even fiat that has been there since couldn’t get to the point of being accepted 100%.  That's really probably impossible.

But if this happens, imagine how successful we would become and a very good idea right there. 

Once the word decentralized on Bitcoin exist, I can't consider it government adopt Bitcoin as a monetary interest.

[Twentyonepaylots]

We still have a long way to go towards total global adoption, but the fact that we're getting there is absolutely good news for us bitcoin supporters and believers but with continuous support from us and backing from larger companies, the dream may not be so distant after all. Let's all work on that dream.

[Obito]

We still have a long way to go towards total global adoption, but the fact that we're getting there is absolutely good news for us bitcoin supporters and believers but with continuous support from us and backing from larger companies, the dream may not be so distant after all. Let's all work on that dream.

I think so too, with how big the population is compared to people who uses bitcoin and cryptocurrenc, we still have a long way to go. I am hopeful too that bitcoin becomes globally adopted but if we want it to be quick, we have to do our part in this adoption by teaching other people about bitcoin and it's benefits, just let them learn and not convert them, let them have the choice.

[nakamura12]

That is a good idea but thinking if it will really happen is far from reality. Fiat currency still have its use and also government can use the opportunity to take control of fiat currency just like what the government do before. Government may have adopted or accepted bitcoin as another source of payment but still government prefer centralized currency like fiat currency.

[DoublerHunter]

The percentage of bitcoin users is growing all the time in all countries. The monetary authority's concern about the presence of bitcoin has turned into an opportunity for trust. For example, currently more than 35 percent of bitcoin circulation in America and in the next 10 years the percentage of funds invested or converted into bitcoin will be very significant.

^ I do not really think that it is actually good to claim that all of the monetary authorities are now adopting BTC. Well in fact the percentage of BTCA being accepted is somehow at its lower scale yet. I admire your optimism but we are only in ten percent way there. On the other hand, fiat has been working well for decades now and it was only because of the pandemic why it has a massive decrease, economies going down and inflation persists.  Nevertheless, I think it would be better to accept that BTC can get at least ten percent of the market, the one hundred percent acceptance rate is very much impossible not even in fiat and other resources.

[Emitdama]

The percentage of bitcoin users is growing all the time in all countries. The monetary authority's concern about the presence of bitcoin has turned into an opportunity for trust. For example, currently more than 35 percent of bitcoin circulation in America and in the next 10 years the percentage of funds invested or converted into bitcoin will be very significant.
 This phenomenon will be absorbed by the majority of countries in the world to then take strategic steps through the regulation of their monetary authorities in accommodating the existence of bitcoin. This was created because bitcoin was able to guarantee equal trust without intervention so that it was considered fairer and safer.
And in the next 20 years bitcoin will become the single standard means of transaction in the world beyond the role of the US dollar, yuan, yen, euro and others. The creation of a world financial mechanism that is more efficient, easy, safe, equal and reliable.

Yes, countries are not going to be banning bitcoin, and I believe that some of those that banned will come to a change of mind and lift the ban and allow crypto businesses to come into the country and people will be free to make use of it. Those of them that have banned bitcoin have seen that it is leading them to nowhere.

Imagine banning bitcoin when there is growth and there are lots of cryptocurrency businesses being established and providing jobs for the citizens, that’s not going to lead the country to anywhere, they will be the ones who are losing, since those cryptocurrency companies will move to countries where they are free to operate, and that, still, doesn’t stop people from using cryptocurrency.

[eaLiTy]

And in the next 20 years bitcoin will become the single standard means of transaction in the world beyond the role of the US dollar, yuan, yen, euro and others. The creation of a world financial mechanism that is more efficient, easy, safe, equal and reliable.

The concept is there but the question will be how are these countries planning to regulate the market, will they be taxing higher percentage for the profits earned so that big investors stay away from the market and look elsewhere. Anything is possible and only time will tell where we will reach in the next decade. I am optimistic because i am pro BTCitcoin and i want to see the market flourish and want to see this as a major player in the foreign exchange sector.

[lalabotax]

I am not sure about it, moreover many countries still do not legalize Bitcoin.
In this case, we can see the chance of this may be about 50%.
However, what we can see right now is about the adoption of blockchain technology, but not specifically for Bitcoin itself.
Many governments may be interested to build their own technology-based blockcahin.

[verita1]

While the massive adoption occurs, the regulations for the use of bitcoin and cryptocurrencies would logically come. We are in the middle of that event, those who adopt it earlier will make the process quick.

Imagine a bit that we are beta tests to use a product. I think so and I feel lucky because I have some experience as well as most of you of a bitcoin and crypto lifestyle.

[Twinkledoe]

I am not sure about it, moreover many countries still do not legalize Bitcoin.
In this case, we can see the chance of this may be about 50%.
However, what we can see right now is about the adoption of blockchain technology, but not specifically for Bitcoin itself.
Many governments may be interested to build their own technology-based blockcahin.

I don't know where the OP got this news from. But up until now, there are several countries that are totally banning the usage of bitcoin. But on another note, some countries are open-minded with this new technology. Though only a decade old, it has gain the interest ranging from financial institutions to top companies. The adoption is increasing but let us admit a lot are still hesitant to touch this industry.

[uneng]

I am not sure about it, moreover many countries still do not legalize Bitcoin.
In this case, we can see the chance of this may be about 50%.
However, what we can see right now is about the adoption of blockchain technology, but not specifically for Bitcoin itself.
Many governments may be interested to build their own technology-based blockcahin.

I don't know where the OP got this news from. But up until now, there are several countries that are totally banning the usage of bitcoin. But on another note, some countries are open-minded with this new technology. Though only a decade old, it has gain the interest ranging from financial institutions to top companies. The adoption is increasing but let us admit a lot are still hesitant to touch this industry.

Maybe he is just trying to predict what is going to happen in 20 years from now on. And I must say it's really a very optimistic prediction, as many of the so called monetary authorities are totally against the values promoted through bitcoin and its adoption. Most probably these authorities will take advantage of the industry, learning the technology, but to develop their own centralized currencies, letting bitcoin aside.

[Argoo]

And in the next 20 years bitcoin will become the single standard means of transaction in the world beyond the role of the US dollar, yuan, yen, euro and others.

That's pretty much unlikely to happen, Fiat currencies could be at it's low atm, with devaluation, inflation/hyperinflation etc and also a struggling economy due to the pandemic to make things worst, but unfortunately, it's somewhat not possible for Bitcoin to become the only (single) means of carrying out transactions; newcomers to Bitcoin are always pretty much enthusiastic to suggest that, but the reality is that the use of Fiat currencies wouldn't diminish. Bitcoin is currency of control, freedom etc, that makes it slightly different from our regular Fiat currencies, and imo, BTC works pretty fine with Fiat currencies around (when they coexist), even when Bitcoin becomes mainstream, it still would be insufficient to be the "single standard means of transaction".

This phenomenon will be absorbed by the majority of countries in the world to then take strategic steps through the regulation of their monetary authorities in accommodating the existence of bitcoin. This was created because bitcoin was able to guarantee equal trust without intervention so that it was considered fairer and safer.

The thing is, the government do not want any currency they can't control, manipulate and print as much as they want, when they want it, and having said that, Government involvement or accomodation of Bitcoin ultimately results in regulations, which then erode the control and freedom it's users are in the network for.

Unfortunately, there is still no reason to rejoice. States, governments and their structural organizations in general are not yet going to use bitcoin in their calculations, and this is hardly worth counting on in the near future. If there are such cases, then they can be considered isolated.
Bitcoin and other decentralized cryptocurrencies are not suitable for states due to their "no-man's" nature, high price volatility and uncontrollability. There is no doubt that they will issue their digitized central bank currencies using blockchain technology. In addition, the higher the price of bitcoin rises, the more states will have a desire to regulate the circulation of cryptocurrency more stringently.

[sapnu]

The percentage of bitcoin users is growing all the time in all countries. The monetary authority's concern about the presence of bitcoin has turned into an opportunity for trust. For example, currently more than 35 percent of bitcoin circulation in America and in the next 10 years the percentage of funds invested or converted into bitcoin will be very significant.
 This phenomenon will be absorbed by the majority of countries in the world to then take strategic steps through the regulation of their monetary authorities in accommodating the existence of bitcoin. This was created because bitcoin was able to guarantee equal trust without intervention so that it was considered fairer and safer.
And in the next 20 years bitcoin will become the single standard means of transaction in the world beyond the role of the US dollar, yuan, yen, euro and others. The creation of a world financial mechanism that is more efficient, easy, safe, equal and reliable.

Even though bitcoin has already gained much popularity all over the world, we cannot be certain about its future still. There are still a lot of possibilities that may hinder or may end bitcoin's era but let us hope for the best since we are all patronizing the use of it. For now, we should set ourselves ready on what can happen in the future and spread the word about bitcoin even through little ways like telling a friend or a relative. After all, if bitcoin would make it to that position in the future, I'm certain all the struggles and incapabilities will already be worked on and bitcoin would be flawless enough to be accepted and considered as the single monetary instrument in the world.

[Bitstar_coin]

The percentage of bitcoin users is growing all the time in all countries. The monetary authority's concern about the presence of bitcoin has turned into an opportunity for trust. For example, currently more than 35 percent of bitcoin circulation in America and in the next 10 years the percentage of funds invested or converted into bitcoin will be very significant.
 This phenomenon will be absorbed by the majority of countries in the world to then take strategic steps through the regulation of their monetary authorities in accommodating the existence of bitcoin. This was created because bitcoin was able to guarantee equal trust without intervention so that it was considered fairer and safer.
And in the next 20 years bitcoin will become the single standard means of transaction in the world beyond the role of the US dollar, yuan, yen, euro and others. The creation of a world financial mechanism that is more efficient, easy, safe, equal and reliable.

So where is the source of this little piece of information or you just decided to dream big and put it in writing?
Are you a time traveller that you already know btc will be the single standard transaction in the world, btc is just 21 million and we have billions of people all over the world, I wonder how this will be distributed.

[Silberman]

This is wishful thinking. The goal of fiat is to maintain control over the financial system of the world. Due to its flexibility and being a way easier tool to manipulate depending on the current economic situation, governments would surely like to keep it that way for a long time until a new 'better' system that retains the flexibility of fiat arises. They can't do this in bitcoin, thus making it near impossible for them to adopt it even in the next 100 years. Sure they are warming up to bitcoin and other crypto given the potential of these digital financial tools/assets, but I don't see them integrating it directly on their financial system.

Agreed, it is naive to think governments do not know all the damage they do with their fiat currencies to the people, they use them precisely because it allows them a great control over their population and over the whole economy on itself, bitcoin is not going to change this, even if the whole economy collapses tomorrow and people decided to adopt bitcoin as fast as they could governments can just force you to use their fiat even if you do not want it and they will keep their fiat in power even if they have to use force to get this done.

thats why, even two decades from now, we will still have our fiat as main means of financial transaction. i dont think btc or any other crypto will dominate the financial area. maybe the adoption will increase but it will just co-exist with fiat. dont think that the govt will fully abandon the use of fiat. thats not gonna happen. just my 2 cents.
and the OP is misleading users by his title thread. a lot of countries are still treating bitcoin as illegal like bolivia, bangladesh and iran. just to name a few.

Correct, and even when they do it they will try to reintroduce their fiat currencies at some point in the future as they cannot deny themselves the benefits they get from their fiat currencies, one example of this is Zimbabwe, the currency of Zimbabwe got so useless the government was forced by their citizens to leave it behind and the economy was recovering with the use of foreign currencies, but the government could not allow this and they reintroduced their fiat causing chaos and yet another collapse on their economy.

[aysg76]

The percentage of bitcoin users is growing all the time in all countries. The monetary authority's concern about the presence of bitcoin has turned into an opportunity for trust. For example, currently more than 35 percent of bitcoin circulation in America and in the next 10 years the percentage of funds invested or converted into bitcoin will be very significant.
 This phenomenon will be absorbed by the majority of countries in the world to then take strategic steps through the regulation of their monetary authorities in accommodating the existence of bitcoin. This was created because bitcoin was able to guarantee equal trust without intervention so that it was considered fairer and safer.
And in the next 20 years bitcoin will become the single standard means of transaction in the world beyond the role of the US dollar, yuan, yen, euro and others. The creation of a world financial mechanism that is more efficient, easy, safe, equal and reliable.

Bitcoin adoption is increasing at significant rate with major corporations like MicroStrategy,Tesla, Starbucks, Microsoft accepting and investing in bitcoin but still we need to live in reality that for Bitcoin to become completely mainstream it will require lot of time.At current only 1-2% of population is using Bitcoin for payment method and 3-4% are investing in bitcoin just for high returns.Fiat cannot be replaced so easily as it is legal currency of country,world trade is carried out with fiat and all business operates on fiat.

For Bitcoin to become Mainstream some things need to be corrected like:
1)High transaction fees
2)All the countries need to regulate Bitcoin for use in their jurisdiction.
3)Speed of transaction

So we can say that we are Bitcoin enthusiast but still we need to wait for what @OP is dreaming about so easily.

[int03h]

Bitcoin is ubiquitous and powered by cryptocurrency companies, P2P merchants, and exchanges. It can be said that Bitcoin has very good liquidity even on centralized exchanges and P2P exchanges.
Regardless of the future, for now, Bitcoin-related transactions have taken place all over the world.
After the US dollar, the Bitcoin coin is the next most liquid currency that we can expect over the next few years.