Can Bitcoin become a global currency ?

[Jatiluhung]

to become a global currency I think for now it is impossible. because of its high fluctuation.

but bitcoin one day I believe will be accepted by the global as a legal tender.

but not as currency. so the future of bitcoin is very potential for investment. like gold in the real world. and bitcoin is like gold in the digital world.

[dlightag]

Bitcoin is created as online digital assets payment, probably in few years to come Bitcoin maybe a global currency, when nation across the globe accept Bitcoin. Hence the internet keep existing Bitcoin we continue expand sooner or later it maybe adopted as a global money wire transfer in the ecosystem.

[MinoRaiola]

In theory it is possible, in practice it is currently very complicated. It is not because our systems how bitcoin can be used. Strike has recently show that it is very simple and fast. The problem is the person who does not have the courage to pay with bictoin or is afraid to lose bitcoin. Or the country behind it, which is afraid to lose his power power over others or the financial system. Altcoins maybe as a secondary currency. For the euro or dollar, there are also many different ways to move them. By paypal, credit card, skrill, moneygram and many other providers.

[jyjkxugh]

If it is possible, I think it is possible, and there may be more digital currencies in the future. It is possible if the country allows it.
Perceptions of Bitcoin may ultimately focus on its global reach and neutrality.

[PurpleFrog]

Many research studies show the cryptocurrencies are about to boom in the next years.

A growing number of businesses adopt bitcoin as a payment method, so I do believe we are witnessing a financial revolution.

It is especially important to note that 1/3 of people in the US aged 18-29 in the US have bitcoin and 1/2 of 18-35 years old state they are willing to invest in bitcoin.

Recent studies show that there are 300+ Million crypto users in the world, representing 3,8% of world’s population - https://bitcoincasinowiz.com/blog/cryptocurrency-statistics/

So it's a bit early to say that bitcoin can become a global currency but the crypto adoption is growing each year.

[bakasabo]

Many research studies show the cryptocurrencies are about to boom in the next years.

A growing number of businesses adopt bitcoin as a payment method, so I do believe we are witnessing a financial revolution.

It is especially important to note that 1/3 of people in the US aged 18-29 in the US have bitcoin and 1/2 of 18-35 years old state they are willing to invest in bitcoin.

Recent studies show that there are 300+ Million crypto users in the world, representing 3,8% of world’s population - https://bitcoincasinowiz.com/blog/cryptocurrency-statistics/

So it's a bit early to say that bitcoin can become a global currency but the crypto adoption is growing each year.

Are these studies real? I mean, how can they have calculated 300+ million crypto users? This means every 25th person on earth is a crypto user (I've googled world population - around 8 billions). If I ask 26 my colleagues, I doubt that there will be a crypto users besides me. I would believe that there are 300 million crypto addresses, but not users. And I would not call a person, that has created a wallet as a user. Because, for example, I've tried smoking a cigarette, when I was much younger and in a company of smokers, but that does not make me a smoker.

P.S. And you have copied a bit wrong info. 3.8% is the percentage of Bitcoin owners from whole worlds population.

[Minecache]

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.

Whether it's banned or not, bitcoin can still be traded worldwide in one way or another. But to my knowledge, world currency is that when accepted and used anywhere in the world, you can find them anywhere in the world where human beings live.

But with bitcoin yet to reach that level, you can't use bitcoin to buy goods in so many parts of the world, not to mention many people still have never used bitcoin.
With decentralization and the need for internet to use, it is very unlikely for bitcoin to become the world currency in the near future.

[Smack That Ace]

~~

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.

I still prefer bitcoin as an investment asset rather than a currency. Decentralization can help us store assets more safely, and volatility to generate return on investment.

For the cost per transaction and sometimes delayed confirmation times, making me uncomfortable using it as a means of payment.
Nowadays with the value continuously increasing over time, people will tend to treat bitcoin as an investment rather than a currency.

[BlackBaron]

A wide range of virtual currencies have emerged over the past decade, such as Bitcoin, Lite Coin, PeerCoin, Aurora coin, Dogecoin, and Ripple. The most important of these is Bitcoin.

In fact Bitcoin is currently the most sought after digital currency by many crypto users, there are various purposes for getting Bitcoin, investing, trading, shopping, and many other methods that can be done with Bitcoin.

My consideration is Bitcoin can be a global digital currency to trade, but not a currency like fiat, it is very likely that it can be made.

[Franctoshi]

I do think so and not only gonna serve as global currency but also serve other purposes, However I believe that is where we're heading into right now and in my opinion,  that is next main event remaining for Bitcoin where everything will no longer be be priced base on dollar but in Bitcoin. It just a matter of time since they're trying to do away about everything regarding the old monetary system and moving us into different economy which involves digital currency like Bitcoin and Ethereum, therefore in this new world order system I believe Bitcoin is gonna be that global reserve currency to use by everyone around the world.

[PurpleFrog]

Many research studies show the cryptocurrencies are about to boom in the next years.

A growing number of businesses adopt bitcoin as a payment method, so I do believe we are witnessing a financial revolution.

It is especially important to note that 1/3 of people in the US aged 18-29 in the US have bitcoin and 1/2 of 18-35 years old state they are willing to invest in bitcoin.

Recent studies show that there are 300+ Million crypto users in the world, representing 3,8% of world’s population - https://bitcoincasinowiz.com/blog/cryptocurrency-statistics/

So it's a bit early to say that bitcoin can become a global currency but the crypto adoption is growing each year.

Are these studies real? I mean, how can they have calculated 300+ million crypto users? This means every 25th person on earth is a crypto user (I've googled world population - around 8 billions). If I ask 26 my colleagues, I doubt that there will be a crypto users besides me. I would believe that there are 300 million crypto addresses, but not users. And I would not call a person, that has created a wallet as a user. Because, for example, I've tried smoking a cigarette, when I was much younger and in a company of smokers, but that does not make me a smoker.

P.S. And you have copied a bit wrong info. 3.8% is the percentage of Bitcoin owners from whole worlds population.

I get your idea about users vs wallets. Not sure how they calculated it but there are numerous sources stating this number:

https://blockchain.news/analysis/crypto-users-stand-at-300m-representing-nearly-3.7-percent-the-global-population


https://blog.crypto.com/global-crypto-owners-near-300-million-predicted-to-hit-1-billion-by-the-end-of-2022/ - Crypto.com's analysis

Blockchain.com alone reported 83+ M wallets in August 2022, so I guess these studies are based on exchanges' reports (like Blockchain)

We can never be sure how many are the active users and also 1 user can have many wallets...

[Kelvinid]

I do think so and not only gonna serve as global currency but also serve other purposes, However I believe that is where we're heading into right now and in my opinion,  that is next main event remaining for Bitcoin where everything will no longer be be priced base on dollar but in Bitcoin. It just a matter of time since they're trying to do away about everything regarding the old monetary system and moving us into different economy which involves digital currency like Bitcoin and Ethereum, therefore in this new world order system I believe Bitcoin is gonna be that global reserve currency to use by everyone around the world.

I'd never see other purposes for its creation but just being considered as a currency. However, people had looked at the other side of Bitcoin, and taking this as an investment is somewhat unbelievable yet profitable in the end. Yes, it is a matter of time, that certainly comes someday, in fact, it was started already in some place like El Salvador - that is quite impressive and serves as an example that Bitcoin really has the potential to be considered as a currency and used globally.

[Flamous]

I don’t think it would be easy for bitcoin to become a global currency since not many governments seem to be interested in legalising it. As no country would like to lose control of its financial system, I doubt if bitcoin will ever be made a legal tender. Bitcoin might be doing really well but it has a long way to go.

[carlfebz2]

I don’t think it would be easy for bitcoin to become a global currency since not many governments seem to be interested in legalising it. As no country would like to lose control of its financial system, I doubt if bitcoin will ever be made a legal tender. Bitcoin might be doing really well but it has a long way to go.

It cant or never be possible even though it does have huge support from the community or becoming the trend but there are just even on technical aspects which it cant be possible.
For alternative yes but for general or whole scale then it cant really be going to global.Lets just accept that fact or fate of it.

It would really be just fit out on being alternative.One of the things on what it wont make it possible is about regulation plus having that decentralized then it would really throw off the
probability.Lets just leave this to fiat or into those typical ones.

Im not that too negative but lets just realistic into this one and dont hope that much that we would be reaching this point.

[Natalim]

I don’t think it would be easy for bitcoin to become a global currency since not many governments seem to be interested in legalising it. As no country would like to lose control of its financial system, I doubt if bitcoin will ever be made a legal tender. Bitcoin might be doing really well but it has a long way to go.

It cant or never be possible even though it does have huge support from the community or becoming the trend but there are just even on technical aspects which it cant be possible.
For alternative yes but for general or whole scale then it cant really be going to global.Lets just accept that fact or fate of it.

It would really be just fit out on being alternative.One of the things on what it wont make it possible is about regulation plus having that decentralized then it would really throw off the
probability.Lets just leave this to fiat or into those typical ones.

Im not that too negative but lets just realistic into this one and dont hope that much that we would be reaching this point.

Besides, the said creation is not meant to disable Fiat money and stop people from using it but the design was to make Bitcoin as an alternative mode of payment Online. If we think this becomes a global currency, that still remains reasonable however, we can't urge people to use it all the time. The government had imposed some sort of crypto regulations and in some cases, it was banned and considered illegal which hinders people to use it.
10 years, 20 years, there might have a big change but I still believe that the majority are still using fiat money, not Bitcoin.

[kawetsriyanto]

I don’t think it would be easy for bitcoin to become a global currency since not many governments seem to be interested in legalising it.

Although Bitcoin isn't legalized yet as a currency in every country in the world, people already use it as a digital currency for any transaction in many places in the world. Since Bitcoin is already used for any transaction around the world, I think Bitcoin is a global currency already. To be a global currency isn't a must to accept by each country in the world.

As no country would like to lose control of its financial system, I doubt if bitcoin will ever be made a legal tender.

Why doubt it?
El Salvador already legalized it as a legal tender. I heard that there will be more countries to consider Bitcoin as legal tender as well. The progress of Bitcoin to be a legal tender in most countries in the world look quite positive.

[harapan]

In my opinion, bitcoin being accepted and used as a global currency is a fallacy. I don’t think it would ever happen cause for it to become a global currency, the fiat system of payment would have been phased out and that’s not happening any time soon. Most governments of various countries have openly criticized and denounced bitcoin so btc being a global currency isn’t really possible now or anytime soon.

[TravelMug]

Bitcoin will become a global currency when fiat currency is no more.

I'm not sure if fiat will just disappear or will have no value. It will remain dominant, the banking system will continue in the next centuries.

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

Crypto though will be a good option. Another means to pay and uses as digital money and many more. But it won't simply replace the dollar, even if people losses trust on fiat system, I don't see crypto taking over. Maybe what crypto can be in the future is that it could be view as a new world reserve currency, maybe just like gold or any other precious metal.

[Cryptmuster]

Crypto though will be a good option. Another means to pay and uses as digital money and many more. But it won't simply replace the dollar, even if people losses trust on fiat system, I don't see crypto taking over. Maybe what crypto can be in the future is that it could be view as a new world reserve currency, maybe just like gold or any other precious metal.

The fiat system is already under criticism, constant inflation it just constantly causes people to lose the value of their savings. But I still don't think that bitcoin can become a global currency, I assume that bitcoin will remain an investment vehicle, digital gold. It's just that in the future its volatility will decrease very significantly and it will be more stable. Some digital currencies will exist, but they will also be controlled by a central government.

[8rch7]

Crypto though will be a good option. Another means to pay and uses as digital money and many more. But it won't simply replace the dollar, even if people losses trust on fiat system, I don't see crypto taking over. Maybe what crypto can be in the future is that it could be view as a new world reserve currency, maybe just like gold or any other precious metal.

The fiat system is already under criticism, constant inflation it just constantly causes people to lose the value of their savings. But I still don't think that bitcoin can become a global currency, I assume that bitcoin will remain an investment vehicle, digital gold. It's just that in the future its volatility will decrease very significantly and it will be more stable. Some digital currencies will exist, but they will also be controlled by a central government.

I also don't believe bitcoin will become a global currency, because it will not be easy to replace FIAT currency which is controlled by all governments, I also agree that bitcoin will remain a crypto currency forever and forever bitcoin will still be an investment asset, because the purpose of the emergence of bitcoin is not to replace the FIAT currency, but the emergence of bitcoin to be able to make the economy better and grow the world economy.