Can Bitcoin become a global currency ?

[Lucius]

The OP is just trying to promote its blog with a question that doesn’t really make too much sense for those who know how the world works. People who are in some way involved in Bitcoin mostly consider it an investment because they don't really have a place to spend it even if they want to, or paying with it is too complicated for them.

If we take into account all this, and that from 2009 until today more than 5% of people in the world are not interested in Bitcoin, and that many influential people are very negative about Bitcoin - how can we expect to talk about a globally accepted currency in a world where more than 40% of people don't even have internet access?

Bitcoin is for people who are open-minded and not slaves to the system, and how many such people do you know around you?

[1715645546]

1715645546

[lionheart78]

can Bitcoin become a global currency?
check out https://roz-key.blogspot.com/2022/05/the-digital-agenda-of-virtual.html

Bitcoin is already a global currency.  Anyone in the world can transact with it.  It doesn't need approval by any government to operate because it is driven by people's demand.  It may not the most used, or the most popular but it is indeed in the category of global currency.

Bitcoin's security issue (cyber-attack) may reduce its ability as a store of value.

I think otherwise.  This is one of the strongest points of Bitcoin.  The Bitcoin network is secured and needs billions of dollars to crack and do a 51% attack on its network.  I think the author should dig more information than raising this kind of concern.  Even quantum computer is far from cracking the Bitcoin security protocol.

Thus, the Bitcoin system depends essentially on the voluntary acceptance of participants. It is transferred only between speculative investors i.e. neither the government nor a financial institution controls its ecosystem.

This is another positive trait of Bitcoin economics.  Everything isn't controlled by any government.  Another reason why many freedom lovers are attracted to this kind of cryptocurrency called Bitcoin.

[TheGhostMan]

Well, when we talk about Bitcoin we could say that it is practically already a global currency (Global Digital Currency) and a large number of people around the world use it. Now, if you mean the acceptance of this in the world, well... there are already some countries that have already adopted it as current legal tender.
reaching the point of implementing ATMs to withdraw funds through Bitcoin and not to mention that there are already different crypto cafes, well-known brands, companies that accept this form of payment and even gas stations... little by little more countries are beginning to adopt this technology, which it clearly has the ability to be more widely adopted by people, so it is not tied to a central bank or a specific country.

[m2017]

Bitcoin is global currency because we can use this currency for globally payment . It is not restricted for any kind of country . Every Countrys people can use Bitcoin service and holding it also they can use it for btc acceptable online services . So it is obesly global currency

When topics are created with similar questions "Can Bitcoin become a global currency ?", I have exactly the same thoughts as you. Indeed, bitcoin is already a global currency and what is stopping people from using it? Nothing interferes. For some reason, some are waiting for the official bitcoin adoption, which seems strange to me. Satoshi created bitcoin as a means of payment, independent of the entire banking system, and therefore of any official state institutions. Recognition of bitcoin official government bodies will go somewhat against the ideas of independence and bitcoin freedom. Isn't it so?

[YOSHIE]

So the question we can ask : can Bitcoin become a global currency?
check out

Question Recommended for You.
1. What percentage of people in your country use Bitcoin as their main transaction.
For example: buy food and secondary needs or buy Property with Bitcoin.
2. What percentage of people in your country know Bitcoin, as well as trust and don't believe in digital currencies like Bitcoin.

From the two questions, you can already judge, is it possible for Bitcoin to be made a global / world currency, it just analyzes one country, let alone the world.

You can't compare the fiat currency used by each country with Bitcoin, I mean, Bitcoin transactions can be used based on internet access, fiat does not require internet, fiat circulation with Bitcoin is also different, Bitcoin 21 million pieces and fiat depending on the needs of each country.

Logically you, can buy 1 tissue, 1 candy, 1 liter of fuel, 1 pack of rice with Bitcoin, how much is the transaction fee for 1 candy and what is the price of other candy, fiat can do it all, what about Bitcoin, think logically, all your answers will be answered, if you try to think, not to mention parents or laymen with internet access.

[cabron]

 AlthoughnB BTC is a currency, I think most of  hae BTC look at it as speculative assets which they trade all the time. Or for some a store of value. Its also a coin to be used for gambling on the internet.

BTC has tke used widely before the government will look into it, control it and regulate before they could decide BTC whether to consider it as global currency. If they can't dont it all, they'll ban it like China did.

[ReiMomo]

It's already a currency used globally. Only the difference is  the govts' acceptance. Everyone from every corner is using it. Those who are allowed, are legally using it but those who are not, converting it into their local currencies. But yes eagerly awaiting for every country to legalize and allow their citizens use bitcoin. Number of countries who accept bitcoin have increased.

[darkv0rt3x]

I also think Bitcoin is a global currency and not only. It's a tool to make the world way more fair, transparent, etc. All those properties we all know! But I also believe that in the mid/long run, it will at least create it's own consierable parallel economic realm if not completely kill the actual fiat system.

With so many factors, no one can predict anything, but the way things look right now, it seems to me that within maybe 2 generations, we may have a world so sick of the actual system that riots, will be so common, governments falling will be comoon, more and more wars will happen and eventually generations living in that time will be way more educated than what we are now and will acknowledge that Bitcoin can actually be one the very few ways to go! But who knows, right?

[Smartvirus]

One thing we ought to realise is that, a currency as per faith or paper money is a national symbol. Let's not let our interest in bitcoin or cryptocurrencies in general make us forget that. Bitcoin is good but, it can't serve in the capacity of a national currency in such a way that, it would displace fiat money.

Even the nations that have gone far to legalise cryptocurrency is has not totally thrown a way or do away with there indigenous fiat money. I say this with respect to El-Salvador - Colon (Bitcoin) and Central African Republic - Franc (Bitcoin). The integration between the currencies integration best we could get and hope for. That's the capacity for which Bitcoin or cryptos could serve.

[Genamant]

Bitcoin is widely used globally now but not legally mostly, though compared to fiat currencies
but I really hope it will be just like this I don't want legality to trigger tax on my trades 

[sensimilia]

The conditions for bitcoin to become a global currency are only awareness and trust, there is no need to expect a declaration of legality in each country. This is the same with gold which was recognized as a currency even long before the first constitutional era was formed.
Now you just have to look at the total capitalization of bitcoin and find out if that amount is not enough to call bitcoin a global currency.

Users are easily attracted to bitcoin to facilitate hassle-free transactions, so due to the increase and popularity of bitcoin's use day by day, it has now become the global currency. Hopefully Bitcoin will be used all over the world very soon

[Majestic-milf]

If by global, you mean it's an acceptable form of payment wherever you go like the dollar was in some parts of the world, then I look forward to such a period. But if it's in the situation of it being popular and gaining credence, it sure has done that. 
 But it cannot be used to replace a country's initial fiat cause it's a speculative assets and and it can be limited.

[Jatiluhung]

actually bitcoin has become a digital currency globally. although of course it will not be able to replace ordinary fiat money. Or maybe it's very unlikely. but we do not know in the future with everything that requires and requires more practical than fiat namely digital money. then it's possible.

[DapanasFruit]

I would consider Bitcoin to be the most global cryptocurrency as of press time but as to it becoming like the preferred global currency in the or replacing the US Dollar which is good for international commerce transactions we still need to be patient because before getting there can be taking so many years...that is if we will really get there. In the first place, the very high volatility of BTC is killing any chance to make it to that level and remember that without this volatility I don't think there can be a very popular BTC today. As of now, there is nothing very attractive incentive for people and countries to be using Bitcoin as a global currency going forward from just media publicity.

[RashidulIR]

According to what proceeds, Bitcoin will not be able to compete with standard currencies. So the question we can ask : can Bitcoin become a global currency?
check out https://roz-key.blogspot.com/2022/05/the-digital-agenda-of-virtual.html

If you look closely, you will see that Bitcoin has already begun to take its place as a global currency.  In many countries of the world, people are now using Bitcoin to sell their daily necessities.  With that in mind, it is safe to say that gradually we will see Bitcoin as a global currency.

[Plaguedeath]

If you look closely, you will see that Bitcoin has already begun to take its place as a global currency.  In many countries of the world, people are now using Bitcoin to sell their daily necessities.  With that in mind, it is safe to say that gradually we will see Bitcoin as a global currency.

Many countries?
I knew it's only 2 countries e.g. El Salvador and Central Republic Africa which accept is as legal tender, while few other countries only legal and friendly with Bitcoin, but not all business accept Bitcoin payment. It's still not many, but at least we're going to get mass adoption.

[D ltr]

bitcoin can only be digital, it can't be global because I don't think fiat can be replaced by bitcoin.
because the main reason is that only part of the country knows what btc

[Gyfts]

The OP is just trying to promote its blog with a question that doesn’t really make too much sense for those who know how the world works.

Probably. But the question is still important. The major financial institutions that run the global economy certainly view Bitcoin as a threat to the fundamentals of their institutions. Is there doubt in people's mind that Bitcoin could be a global currency? Sure there is. We should dispel the myths.

IMO Bitcoin could become a global currency if the traditional reserve currencies fail. USD currently serves as the world's currency reserve, but with high inflation some countries are electing to increase their share of Yuan. Of course, China's economy is not doing well either, so where might countries go to fill up their currency reserves? Hopefully they might choose a decentralized currency that is independent of politics, ie. Bitcoin.

I see that as the only possible avenue. There is no incentive for countries to come together and ditch their own currency in favor of a common shared currency. The only way for this to happen would be if they (central banks of major developed countries) were force to.

[mia_houston]

If you look closely, you will see that Bitcoin has already begun to take its place as a global currency.  In many countries of the world, people are now using Bitcoin to sell their daily necessities.  With that in mind, it is safe to say that gradually we will see Bitcoin as a global currency.

Many countries?
I knew it's only 2 countries e.g. El Salvador and Central Republic Africa which accept is as legal tender, while few other countries only legal and friendly with Bitcoin, but not all business accept Bitcoin payment. It's still not many, but at least we're going to get mass adoption.

Bitcoin could become a global payment instrument if bitcoin experienced mass adoption as did El Salvador, but if bitcoin is still being debated and opposed by many countries as it is today, of course it will be difficult to realize bitcoin as a global currency, it seems bitcoin is still it takes a lot of time to be accepted by many countries today, especially with the current condition of bitcoin, of course it will still cause fear for countries to fully adopt bitcoin, in my opinion, the failure or success of El Salvador after adopting bitcoin is certainly an example for a goverment before deciding to adopt or ban bitcoin in their country.

[Awwal08]

In my opinion, Bitcoin can become a global currency because Dubai is a well-known country that people love to visit. Bitcoin is a recognized coin throughout the world. If Dubai is willing to accept bitcoin as payment for travel. Everyone wants to go to Dubai, so there is hope.