Can Bitcoin become a global currency ?

[Amicable55]

Bitcoin is an investment, the reason many people are buying it and the adoption continues.

Some countries have legalize bitcoin as a legal tender, less than 15 countries in the world totally ban bitcoin as of present. If bitcoin is used in other countries of the world and also even so people in the countries that ban bitcoin are still using it, what currency can we call that? Global or local currency?

In my high opinion, the decentralization in bitcoin and its adoption makes it a global currency.

You are 100% right.  Decentralised means no bank involved. If no bank involved then ofcourse no fees will be cahrged. This is minor aspect of Bitcoin. Some countries may fear that money Bitcoin will be in some hands and may pump and dump w.r.t times.  But everyone, every country is moving around ₿.

[Rigon]

Bitcoin is already become global currency. Bitcoin is decentralization crypto currency it will never be stable. Cz bitcoin is not stable coin.People usually using bitcoin many ways. Many countries Govt didn’t didn’t accept crypto currency but people still using. People loves to bitcoin investment cz bitcoin is long term investment coin and most popular and valuable coin in crypto market. Bitcoin investment increase day by day.

Bitcoin is a global currency. People all over the world are now using Bitcoin. Bitcoin's popularity is increasing day by day.Different countries provide legal validity. There will come a time when Bitcoin will be valid in all countries and everyone will start doing Bitcoin transactions directly.We can see that Bitcoin is constantly increasing in popularity.Since Bitcoin is being used and invested by people all over the world then surely we can consider Bitcoin as a global currency.

[lucates]

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

Bitcoin is already a global currency.
Is it the most used ? No. Is it largely acceptable ? No, but its adoption is growing.

But if both parts want, it is easy to transfer bitcoin to anyone anywhere in the world.

I don't think bitcoin is competing with other currencies.  It is just an alternative, for people who wants more freedom and don't want to be exposed to governments agendas.

Bitcoin is already a global currency and it's widely used throughout the world. Only a few countries are completely restricted. In the case of legal tender, it takes some time to accept Bitcoin. Or in the future, countries may come up with their own digital currencies like the fiet currencies we use now. Hope Bitcoin has its own future.

[suzanne5223]

Isn't it already a global currency since Bitcoin has no borders? You can send from one end of the world to the other end within few seconds without any problems. No third-party involvement that would slow down the process. The only problem is few countries "banned" the usage of crypto currencies, but I am pretty much sure as more people starts to adopt bitcoin, those countries will be forced to lift the ban or else they will be lagging behind.

No, Bitcoin is not a global digital currency and you said it yourself that some countries ban its use of it.
Having said that, there will never be a global digital or no digital currency due to some certain reasons which are
1) Different political understanding and system
2) Religion barrier
3) Inequality etc.
The government never wants any form of global currency and this is the reason why they sure the Facebook Libra coin is never established because the project concept is to make it a global digital currency.

[Imran232]

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According to my point of view, bitcoin has now become an investment asset. So becoming a currency would be tough. But it can be an optional digital payment method. First of all, if Bitcoin becomes a global currency, then every country’s economy will have to entirely depend on it. And the nature of bitcoin price volatility means it would be really tough to survive any kind of economic crisis. And the economic crisis will have a long-term impact on that generation. As a result, no country appears to be in a good position. That is why I believe bitcoin can be a digital payment system and an investment asset. That's my opinion; others can be different. Thank you.

[stomachgrowls]

Isn't it already a global currency since Bitcoin has no borders? You can send from one end of the world to the other end within few seconds without any problems. No third-party involvement that would slow down the process. The only problem is few countries "banned" the usage of crypto currencies, but I am pretty much sure as more people starts to adopt bitcoin, those countries will be forced to lift the ban or else they will be lagging behind.

No, Bitcoin is not a global digital currency and you said it yourself that some countries ban its use of it.
Having said that, there will never be a global digital or no digital currency due to some certain reasons which are
1) Different political understanding and system
2) Religion barrier
3) Inequality etc.
The government never wants any form of global currency and this is the reason why they sure the Facebook Libra coin is never established because the project concept is to make it a global digital currency.

We shouldnt really make ourselves to be that optimistic for this manner since it wont really happen no matter what or simply we could say that it is really impossible for it to happen for bitcoin to become

a global currency and as you do mentioned those points above which is totally accurate and with those things then there's no way that it could really reach out into that certain extent.

So lets not hope for this one because it is really that impossible for it to happen.It might able to achieve something but it would really be just on being alternative but well
it isnt really been made for that kind of target or goal but we are emphasizing about being decentralized and p2p transactions without 3rd party intervention which do matter the most.

[SirLancelot]

actually bitcoin is already known and used globally as a digital currency or investment asset.
while for use as a means of payment at this time there are only a few countries that legalize it, but there is no doubt that in the next few years there will be other countries that want to legalize bitcoin as a means of payment such as fiat money.
because bitcoin itself has a high value and has many supporters behind it and bitcoin can also help a country to overcome economic and financial inflation.

For me I don't think some counrries will regulates or accepr bitcoin as currency bacause there are bussiness owner and consumers thay doesn't trust the run of the market. Meybe it will always stay as a optional to any services because or its unstable value. They would rather lose minimal than a great one.

I think that regulating and accepting are two different things but there are a few countries already who made btc a legal tender. The first one that started it is El Salvador. Do you remember it now? I think the three countries which make btc a legal tender still uses their local currencies.

I expect the same thing can happen with others. This for the people that don't want to use bitcoin or don't know how to use it. Governments can just force all their people if they don't want to. To become a global currency won't mean that fiat are now going to be replaced but it only means that bitcoin will now be accepted by each of the countries around the globe.

[kamvreto]

actually bitcoin is already known and used globally as a digital currency or investment asset.
while for use as a means of payment at this time there are only a few countries that legalize it, but there is no doubt that in the next few years there will be other countries that want to legalize bitcoin as a means of payment such as fiat money.
because bitcoin itself has a high value and has many supporters behind it and bitcoin can also help a country to overcome economic and financial inflation.

For me I don't think some counrries will regulates or accepr bitcoin as currency bacause there are bussiness owner and consumers thay doesn't trust the run of the market. Meybe it will always stay as a optional to any services because or its unstable value. They would rather lose minimal than a great one.

I think that regulating and accepting are two different things but there are a few countries already who made btc a legal tender. The first one that started it is El Salvador. Do you remember it now? I think the three countries which make btc a legal tender still uses their local currencies.

I expect the same thing can happen with others. This for the people that don't want to use bitcoin or don't know how to use it. Governments can just force all their people if they don't want to. To become a global currency won't mean that fiat are now going to be replaced but it only means that bitcoin will now be accepted by each of the countries around the globe.

each country has its own regulations and all decisions are regulated by the government. Replacing fiat is impossible but coexisting with Fiat will be possible. Those who don't understand bitcoin will be forced to understand. El Salvador was indeed the first country to start adopting bitcoin and the use of payments is also allowed to use bitcoin. so there are still 2 options to use bitcoin or use fiat money. At this time to become a global currency, it is still very unlikely for bitcoin, there are many pros and cons and some risks that are still not worth it. but we know bitcoin has a good future.

[bitterguy28]

Bitcoin is an investment, the reason many people are buying it and the adoption continues.

Some countries have legalize bitcoin as a legal tender, less than 15 countries in the world totally ban bitcoin as of present. If bitcoin is used in other countries of the world and also even so people in the countries that ban bitcoin are still using it, what currency can we call that? Global or local currency?

In my high opinion, the decentralization in bitcoin and its adoption makes it a global currency.

You are 100% right.  Decentralised means no bank involved. If no bank involved then ofcourse no fees will be cahrged. This is minor aspect of Bitcoin. Some countries may fear that money Bitcoin will be in some hands and may pump and dump w.r.t times.  But everyone, every country is moving around ₿.

well how come that there are no Fees in bitcoin when you cannot even send the complete amount you have without not taking the fee charge by the miner?

though we have loved in bitcoin investing than Banks as there are a need for 3rd party involvement when in crypto we are just dealing with our own funds unless we need to pay others so the transaction go both ways.

[BobK71]

Bitcoin continues to be used all over the world despite its various legal complications. While some countries have legalized it, most of the  countries have not yet. But many countries are discussing it positively, maybe we will get the benefits soon after that we can consider it as a global currency. Although many have already termed it legal due to its worldwide use they consider it as a global currency.

[Mauser]

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?

I think that the statement is wrong, Bitcoin can compete with all the FIAT currencies we have today. It already does when people have the chance to use Bitcoins for their purchases online. Especially in online gambling became crypto currencies a big part of the financial system for casinos and gamblers. Whenever bitcoins are used instead of the US Dollar it takes a bit away from the market leading position of the Dollar. There are two factors that play into the popularity of bitcoins and it's chance to become a global currency. The first one is the demand of investors, by now it must be clear that many investors look for an asset to invest in that is outside of the reach of government. Bitcoin is a great investment because it can't be printed by central banks. The second factor is that many countries in the world are looking for a way to reduce the strength of the Dollar. With bitcoins it's a good compromise to go away from one country dominating the world as a global currency. 

[Senialayl]

Adding that Dollar is the global currency in fiat which is based on the value of gold and demand. Hence, in crypto currency market, the Bitcoin is a global currency, but the base of Bitcoin may only be demand. So I think that Global currency requires stable position which Bitcoin does not have. Notwithstanding, in cryptocurrency market, Bitcoin is the Queen of coins.  

[kasunrandil]

ofcourse why not? any reasons to not to be so? bitcoin has all the components which money has. and bitcoin has even better components beyond fiat moeny. decentralization and low fees are major components of them. for now small countries and major companies has adopted bitcoin as a payment solution. is that not a good sign?? in 2010 no one  believed on bitcoin. but now millions of people believe on bitcoin. the reason to do so is , people has understood something good signs of bitcoin as better than fiat money. bitcoin  wont  replace the $ or globle currency  today or tommorow. but for sure it will be done eventually.

[coupable]

Can Bitcoin become a global currency ?

It depends on what exactly you mean by the word global. If you mean that it is a global currency used by everyone, then it has been since it was launched, but this cannot in any way cancel out the rest of the classic currencies such as the dollar and the ruble.

This has been asked a thousand times before but the thing is who would do that when we all have our own local currency? Maybe it will be a global currency if a country would accept Bitcoin as a means of payment just like what happened in Venezuela. But the problem is most country leaders wouldn't want that to happen because they think different and they value their own local currency which is widely used by most citizens so it's all in a debate if you want to still ask that question even after a hundred years or so.

Speaking of local currencies, those are not even accepted all over the world except for a few. If you want to go to another region in the world, you will have to change your currency for theirs and Bitcoin falls in that category too for those that understand Bitcoin while others will accept it regardless of your location in the world also like the few Fiats you can spend around the world. Bitcoin might not need global Government approval for it to be labeled as a Global currency. I believe this has been stressed enough and if this is what is needed to confirm Bitcoin to be a currency then it might not be cos I don't see that happening and don't think it's important anyways.

As long as the global economy is governed by economies that rely on fiat money as the main medium of exchange, Bitcoin will not be able to get rid of the dependency on those currencies even if it is circulated. Currently, there are a few countries that have adopted Bitcoin as an officially recognized currency, but at the same time they cannot abandon their local currency and the other currencies in which they manage their international affairs.
This relationship will remain in place and will not change until major economies adopt Bitcoin, which will push it to more stability in its price .

[jaberwock]

Isn't it already a global currency since Bitcoin has no borders? You can send from one end of the world to the other end within few seconds without any problems. No third-party involvement that would slow down the process. The only problem is few countries "banned" the usage of crypto currencies, but I am pretty much sure as more people starts to adopt bitcoin, those countries will be forced to lift the ban or else they will be lagging behind.

Bitcoin is now very popular even almost all people have entered the world of bitcoin and have entered the world of crypto, in fact almost all countries have invested in bitcoin, but I don't dare say bitcoin will become a global currency, because I personally think it is very difficult to replace the world currency Even if that happens, it is certain that the government will oppose this provision.

Being a global currency and removing all the fiat ones are not the same stuff. You could have your fiat at your national stuff and could keep on using that, but when it comes to global payments bitcoin could be the thing you use from one nation to another. This is not the case right now and I get it, people still use dollars a lot, paypal is still getting a ton of attention.

However, we have to see that people are starting to use bitcoin and other coins to move money around globally. It means that it is going to take a while before we could end up with something amazing, and it could happen anytime now, people could start to use crypto more than they use fiat on their international deals.

[Yamifoud]

ofcourse why not? any reasons to not to be so? bitcoin has all the components which money has. and bitcoin has even better components beyond fiat moeny. decentralization and low fees are major components of them. for now small countries and major companies has adopted bitcoin as a payment solution. is that not a good sign?? in 2010 no one  believed on bitcoin. but now millions of people believe on bitcoin. the reason to do so is , people has understood something good signs of bitcoin as better than fiat money. bitcoin  wont  replace the $ or globle currency  today or tommorow. but for sure it will be done eventually.

Yes that could be possible no doubt about it, in order for us to make it happen it should be teach to all ages and to all the school ok your community, so that  there will be no person who will get scammed by someone. And people will know that crypto is not the same with mlm. Sooner or later bitcoin will be accepted in many countries, I hope the fee will be lessen as well.

Will probably take another decade or even more before witnessing such change and considering Bitcoin as a legal tender globally. I'd see this become acceptable to the community provided that the government will give their support as well. But as they are not yet ready for this adoption and still have doubts in their mind, this never happens, yet the idea remains, however, the purpose of being a currency might be taking too long before it proceeds.
Honestly, I was just having fun making this as an investment.

[NicNacCoin]

Bitcoin is an investment, the reason many people are buying it and the adoption continues.

Some countries have legalize bitcoin as a legal tender, less than 15 countries in the world totally ban bitcoin as of present. If bitcoin is used in other countries of the world and also even so people in the countries that ban bitcoin are still using it, what currency can we call that? Global or local currency?

In my high opinion, the decentralization in bitcoin and its adoption makes it a global currency.

Of course we can consider Bitcoin as a global currency. As it is spread almost all over the world and people are investing enough on it.Currently, people are giving Bitcoin the highest status as an investment. There will come a time where everyone will get popularity of Bitcoin and this Bitcoin will be the highest as an investment keep in place.

[Peanutswar]

The worldwide adoption of the cryptocurrency is now widely spreading there are a lot of establishments, organizations, and corporations that would like to support the use of the cryptocurrency especially the bitcoin and this is a good thing because we are now slowly introducing with the future use of the digital and advance payment. But the problem is the market volatility many organizations don't want it of course anyone want to lose their money in just an hour because of the price dumps. It is good to support the bitcoin and make a still 1:1 price in USD but use the bitcoin as payment.

[Smack That Ace]

Bitcoin will become a global currency when fiat currency is no more. But since fiat currency is still valuable in any other country. So with what I'm seeing today i have notice that cryptocurrency and Bitcoin will not take over the responsibilities of Fiat currency, i believe agree that bitcoin has it channel of currency but as to control or dominate Fiat kind of currency. If bitcoin should take over fiat what can we be using to buy our needfuls and our demands

Do you think governments will let bitcoin become the world currency to replace fiat?, Will they accept something they cannot control? I'm sure they'll do whatever it takes to prevent that from happening. Bitcoin does not need to replace fiat but it would be nice if it could become a parallel payment method along with fiat and a great alternative depending on need.

[Ziskinberg]

Bitcoin will become a global currency when fiat currency is no more. But since fiat currency is still valuable in any other country. So with what I'm seeing today i have notice that cryptocurrency and Bitcoin will not take over the responsibilities of Fiat currency, i believe agree that bitcoin has it channel of currency but as to control or dominate Fiat kind of currency. If bitcoin should take over fiat what can we be using to buy our needfuls and our demands

Do you think governments will let bitcoin become the world currency to replace fiat?, Will they accept something they cannot control? I'm sure they'll do whatever it takes to prevent that from happening. Bitcoin does not need to replace fiat but it would be nice if it could become a parallel payment method along with fiat and a great alternative depending on need.

Uncontrollable and market volatility - are the reason why the government, in some countries had not pushed Bitcoin to become legal and considered a currency. And sometimes, they took this personally. However, even to say that Bitcoin seems to become hopeless to go there and become a global currency, doesn't mean that it was done. Many people still see Bitcoin as a valuable asset in the crypto market and since it was not accepted as currency, people considered this a huge investment which makes Bitcoin become popular.