Bitcoin is the new gold standard of the future

[globalpain]

I don't think that Bitcoin will ever be able to be the global currency in the future. Instead, we will see governments developing their own digital currencies and using them. As they are not going to be volatile, it will be for the benefit of countries also. Most governments don't lean towards making Bitcoin their legal tender because of its high volatility. Bitcoin can be as much valuable as it wants. It won't help about this.

It seems that it is difficult to see Bitcoin can be legalized as a means of payment in every country,
as you said that the high fluctuations that make the government in every country have not legalized,
After all, we won't know what the future development will be, so it's better to just monitor the progress

[jakdanyel]

I believe that there are so many people who are hoping to see Bitcoin becoming the global currency. But I must admit that it seems nearly impossible because of its nature. Governments can think of doing such thing only if they can convert Bitcoin into something they would really like. They can't even think of doing this as long as it stays volatile. They would rather using their digital currencies instead of Bitcoin or any other volatile coin.

[bryant.coleman]

I believe that there are so many people who are hoping to see Bitcoin becoming the global currency. But I must admit that it seems nearly impossible because of its nature. Governments can think of doing such thing only if they can convert Bitcoin into something they would really like. They can't even think of doing this as long as it stays volatile. They would rather using their digital currencies instead of Bitcoin or any other volatile coin.

This is an argument that I have heard a million times ever since I made my first investment with cryptocurrency in 2012. Yes. Bitcoin is more volatile when compared to other currencies. But you need to look at the bigger picture. For the fiat currencies, the purchasing power has been going down with each passing year. And the COVID pandemic and all the stimulus measures have made things worse. The M1 monetary supply for most of the fiat currencies have grown by 100% to 200% during the last 18 months. Compared to that, Bitcoin looks far better.

[Rasa nanas]

I don't think that Bitcoin will be able to reach that high level. I mean that it can't be the global currency but we can see it being made legal tender by underdeveloped countries mostly. Because governments of developed countries are already making their digital currencies which are going to be stable rather than a volatile one. Most of the governments of developed countries seem to be against the idea of making Bitcoin their main currency. And I don't think that it will change. We will continue to use Bitcoin as one of the best alternatives in the future.

When developed countries make digital money of course the most important thing is that it is easier to control, bitcoin is decentralized so countries will refuse, bitcoin can continue to shine because of the strong global community and many big companies that continue to develop bitcoin.

expecting bitcoin to become a global currency is too high of an expectation. Bitcoin's decentralized nature and highly volatile price make that hope impossible to achieve. let bitcoin remain an investment tool that has a growing community around the world.

[Kittygalore]

If we follow what the gold standard system is and just replace gold with another thing, it still won't work because it's still the same principle and remember that gold standard was removed because it's ineffective.

[oHnK]

Compared to that, Bitcoin looks far better.

Prior to 1971, the world monetary system was still using the gold standard so that at that time the economy was still stable because fiat had an underlying asset, namely gold.  But after 1972's, the US betrayed the world by printing dollars without any more gold collateral or I call it government money, causing massive inflation throughout the world to this day.  It can be seen how the current condition of the fiat value continues to decline without any appreciation.  In the 2010s, BTC became one of the most successful public currency representatives to date and proved how appreciative value is.  From the start only 1USD to 45K USD.