Can BTC become the world central currency?

[ivankoh]

Bitcoin has become the great initiative, it will be the asset, digital gold in its entirety.  The development to become the central currency of the world will limit the mainstream value created.  It won't, I don't think bitcoin is going to do this.  by its characteristic not belonging to a central currency.

[capokmerah]

I have absolutely no idea that Bitcoin will become the World financial Central bank. Countries or governments of every country and even the world will not let that happen, absolutely not !! The existing banks in every country are owned by individuals or groups who are very financially strong, they can influence every country's decisions. they certainly won't give bitcoin room to grow. I prefer it like now.

[Imran232]

Well to be a central currency is not possible for bitcoin. Its my opinion others could be different. Why i say that heres my some point. Well bitcoin is like a public company. There is no office, no company, no admin or no controller. Which is a big risk factor for government because they need a place where they should discussed and fix their problem. But in bitcoin its impossible. Its public company because anyone can be a owner by buying a cent of bitcoin. So all of bitcoin holder are the owner. No one can truck bitcoin sender or receiver, no one can reverse any transaction. So what is not acceptable for government because they want control. So i don't think bitcoin could be central currency.

[Mpamaegbu]

At the height of these challenges, came a pseudo human called Satoshi...

I believe it's more appropriate to say a human with a  pseudo name than a pseudo human. Satoshi's numerous fans may raise eyebrows for that malapropism. That said.

Well, on the issue of Bitcoin becoming the world central currency - this won't be possible. I don't see the possibility of that now or even in the future. My reason for saying that is based on the technicalities surrounding Bitcoin. It's not a tech for illiterate folks. It's workings make it so. Again, Bitcoin requires electricity to function. To be able to send or receive BTC one must have access to the internet and electricity. This, a lot of countries don't have.

[fiulpro]

At a time when the world is clamouring for peace and unity among the countries of the world- developed and developing.
There is a major limitation, which is the different currencies of the countries. These fiat currencies are controlled by different policies and economic situations of their different countries.
This posses a threat to global financial unity. As many countries are under banked. At the height of these challenges, came a pseudo human called Satoshi, who created what seems like 21st century wonders(bitcoin)

From 2009 till date, bitcoin suffered too many set back, ranging from disbelief to doubt about its future.
But 10 years down the tunnel is a great improvement and acceptance of the first cryptocurrency - bitcoin.
The huge acceptance lead to the creation of several altcoins.

Now many countries are willing to involve in the cryptocurrency world  despite some restrictions in some countries because according to an African adage "No one knows the Goose that will lay the golden egg".
I am seeing in the future where BTC will become a unified currency for the whole world.

To become a central currency the currency needs :


Approval from all the governmental bodies

Now does it seem possible ?
I don't think so.

Then we have to think about : Usage
Are mobile phones available everywhere? Internet? Will everyone be able to use them ? no.

The only reason so as why fiat is so popular is because it is indeed something very easy to use and convenient.

Then we will have the problem of Volatility which is good for us as an investment but at the same time it would not be something that we can go with when we are talking about stability of the whole economy.

Pseudo human ?
No
It would be apt to say the creator who did not take even a single penny from us for using such amazing currency.

[kaggie]

Yes, of course it will be.

The irony of bitcoin is that it goes up because with each cycle of FOMO, more people and companies FOMO into it. It eventually will capture everyone. FOMO creates FOMO.

Perhaps never as a regular transactional currency, but this might have been intended. As bitcoin increases in value, it will decrease in volatility because it will require increasing funds to change its limits.    The current limitation of bitcoin is that is not directly tied to any physical asset, yet as its price increases (due to the greed of governments who inflate their currencies,) it will be tied to increasing markets.

Also, because governments can't agree among themselves, even within themselves. And the beauty of bitcoin is that every country has electricity, and mining automatically adjusts to the amount of computers available, so there is no upper nor lower limitation on the number of computers needed to verify the chain.

[Ebede]

The real reason is that Bitcoin is protected against inflation, unlike the fiat currencies. And this pose a problem for the governments, as they can't print money in unlimited quantities (and then steal most of it). And this is the reason why they removed the gold standard many years back.

So, you meant that the real or major reason BTC cannot be adopted as Unified Digital Currency is because governments cannot control it or create it(either in excess or shortage) for the regulation of the economy.
If this be the case, it therefore means it will help the economy to attain some kind of stability or am I understanding differently?
However I also saw your point of selfish interest of the leaders.

[Dread Pirate Roberts]

I am seeing in the future where BTC will become a unified currency for the whole world.

For becoming most popular digital payment it might be possible. but for main currency i dont think so. every country had regulation, economic system and law as logical example just imagine if transcation fee on bitcoin implement on real life transaction. bitcoin is comodity . digital asset . investment option . digital currency just it.

[Ebede]

Then we have to think about : Usage
Are mobile phones available everywhere? Internet? Will everyone be able to use them ? no.

The only reason so as why fiat is so popular is because it is indeed something very easy to use and convenient.

If say about usage, the world is evolving. At the rate at which technology is taking over the world, in the future you will likely see  internet everywhere and even everyone will use a mobile phone, whether by self or by proxy.

However, I have seen your apt points, maybe I was too optimistic about bitcoin.
Noted: The creator of Bitcoin.

[clippers]

It is difficult, although Bitcoin will not disappear because of bans by governments. But it is also difficult to develop a currency that can be used all over the world.

In fact, the biggest difficulty preventing Bitcoin from becoming an international currency is not price fluctuations or limited quantities, but the high cost of learning. Learning how to use US dollars in daily life has become a habit of people, but learning to understand and use Bitcoin will be much more difficult.

[Kittygalore]

Per my opinion it is hard to become. Banks and economy and every economy big fish want to have control of money flow. I am wrong maybe, we will see.

You aren't wrong about banks and the string pullers wanting to control the flow of money, that's basically the fundamental that banks are build upon and elites have been raised to. Also, the difficult part is that bitcoin becoming the global currency is pretty difficult since there isn't a lot of bitcoin to go around and if it were to happen, lost coins will increase.

[Sanugarid]

At a time when the world is clamouring for peace and unity among the countries of the world- developed and developing.
There is a major limitation, which is the different currencies of the countries. These fiat currencies are controlled by different policies and economic situations of their different countries.
This posses a threat to global financial unity. As many countries are under banked. At the height of these challenges, came a pseudo human called Satoshi, who created what seems like 21st century wonders(bitcoin)

From 2009 till date, bitcoin suffered too many set back, ranging from disbelief to doubt about its future.
But 10 years down the tunnel is a great improvement and acceptance of the first cryptocurrency - bitcoin.
The huge acceptance lead to the creation of several altcoins.

Now many countries are willing to involve in the cryptocurrency world  despite some restrictions in some countries because according to an African adage "No one knows the Goose that will lay the golden egg".
I am seeing in the future where BTC will become a unified currency for the whole world.

I think it's not possible for BTC to become the world's central currency and the answer is simple, the government won't allow something that they can't regulate or out of their hand. No matter how many countries get involved in BTC and cryptocurrency as a whole, its impossible for them to accept it as their main currency and it will affect their economy as well.

[jesselui]

No. I think the question is wrong. Bitcoin cannot be the currency of the world. But it may be another coin with similar technological features to bitcoin. And this coin will not be affiliated with any state. It will be valid in every country.

[angrynerd88]

It is genuine world can't indeed have one binding together cash,There will fundamentally need to be one single government controlling the complete world, which within the to begin with put isn't possible, and indeed in the event that it's conceivable for there to be fair a single money, at that point there's no way that cash is getting to be a decentralized one like Bitcoin.Bitcoin has worth to rule over the world as king unique currency of the world but the govrnrmrnt positive role help to make it possible.

[mrongoz22]

it is unlikely that btc will become a world currency, because it is difficult to replace the fiat currency that has been used for centuries, bitcoin will still be bitcoin, will forever be bitcoin, just let btc stay where it is,
 make it easier for us to invest,

[eaLiTy]

At a time when the world is clamouring for peace and unity among the countries of the world- developed and developing.
There is a major limitation, which is the different currencies of the countries. These fiat currencies are controlled by different policies and economic situations of their different countries.

You can use BTCitcoin for global transaction and what is stopping you from doing so.
 

From 2009 till date, bitcoin suffered too many set back, ranging from disbelief to doubt about its future.
But 10 years down the tunnel is a great improvement and acceptance of the first cryptocurrency - bitcoin.
The huge acceptance lead to the creation of several altcoins.

When you come up with something that is not heard before which is a decentralized currency you will have your doubts and think how it can be successful and whether any government will stop this from going mainstream and these were the genuine doubts i had when i first started with BTCitcoin and ten years later it is the hottest market.

I am seeing in the future where BTC will become a unified currency for the whole world.

It is already a global currency and you do not need anyone's permission to call them a global currency as you can send any amount in BTC without much fuzz from the day BTCitcoin is launched.

[Nunoluck]

I see good future of bitcoin. This pandemic increase people awareness about the advantage of bitcoin payment method. I think bitcoin will be more popular and used by many people in the world for online transaction. For now in export-import trading, people still use fiat because they need bank to send necessary documents. But it is not impossible that we can choose to use bitcoin for export-import trading too. Maybe bitcoin will not become the world central currency, but I think it still can become the most popular alternative payment method.

[Leviathan.007]

The simple and short answer is no. Since bitcoin is decentralized it's not going to be accepted by any government as payment method. Actually, the whole point of bitcoin is to be stay anonymous and decentralized so even if somehow some governments accept bitcoin as payment method there will be many conditions such as forcing people to do kcy. I believe bitcoin is going to be stay decentralized like it is and none can change it.

[Alanaz]

I'm not so sure this can happen because it's very clear that btc is volatile and hard to predict, from here on out I'm not sure btc is the central currency let alone the government. they must have thought several times if they wanted to set btc as the central currency.
it's enough as it is now, btc is enough to be an accessible investment material and the central currency remains $ and can't be changed because basically if this kind of thing is changed it will certainly cause chaos.

[Velazqe]

I think this is impossible. If Bitcoin is used instead of fiat currency and becomes the only deflation, natural deflation cannot be controlled. It is impossible to overcome the barriers. Trying to confuse the public with such expressions as "Bitcoin can be subdivided infinitely" and "Deflation is better than inflation". It's useless, you will understand if you patiently read books on economics or money and banking.