Can Bitcoin become a global currency ?

[Davidvictorson]

Being a global currency is quite unlikely but betting on bitcoin is pretty much betting against the federal government and the financial system in the long run. Bitcoin is already causing the disruption of the actual financial system that have concentrated the power in hands of a few institutions and corporations for so long. This to me is the greatest revolution in the world and of course will have to fight many battles against the current system before becoming the new financial system free from manipulation of unfair interests.

[1715286123]

1715286123

[1715286123]

1715286123

[1715286123]

1715286123

[Doan9269]

In my opinion, bitcoin being accepted and used as a global currency is a fallacy.

Why will you say that, we are in the world of all things possible, think smart we are in a digital world and technological era of development.

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

How i just wish the meterverse technology got implemented soon so as to clear all your doubts about possibilities, but at the moment, we are not saying it will eradicate fiat but it's already contending it, while fiat being used, many will orefer bitcoin than fiat which is the very possibility we are talking about

[Bushdark]

In my opinion, bitcoin being accepted and used as a global currency is a fallacy.

Why will you say that, we are in the world of all things possible, think smart we are in a digital world and technological era of development.

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

How i just wish the meterverse technology got implemented soon so as to clear all your doubts about possibilities, but at the moment, we are not saying it will eradicate fiat but it's already contending it, while fiat being used, many will orefer bitcoin than fiat which is the very possibility we are talking about

Crypto had made many things possible for us which there is no double but adopting Bitcoin as the global currency will surely be possible but it will take some times for it to happen. The way things are happening now need time for everything to be in a perfect place. There are many crypto projects coming to the market which is making Bitcoin more popular through that and I know that the crypto market is becoming bigger than what we thinks will be. Time works with possibility so let's watch how everything will play out.

[danadc]

With all the things that are happening in the world, that the dollar is going straight to an obvious crash, and Europe is accompanying it, it is very likely that Bitcoin can become a global currency, which is now being widely used, if we go to a country at least in one store you can buy things with Bitcoin, the countries in Europe have a lot of development in this, but El Salvador is the country that stands out the most.

[Jatiluhung]

I think fiat remains irreplaceable in becoming a global currency. so Bitcoin can not shift the position of fiat. but in fact that bitcoin has actually become a digital currency that is used globally on the internet. so I can say that bitcoin has become a global currency in internet users.

[bestcoins1]

I think fiat remains irreplaceable in becoming a global currency. so Bitcoin can not shift the position of fiat. but in fact that bitcoin has actually become a digital currency that is used globally on the internet. so I can say that bitcoin has become a global currency in internet users.

That is because of the different nature of the two and also based on the usefulness of each currency. So that Bitcoin is still widely used via the internet because it is also easier to use and use by the Bitcoin users themselves. Likewise with fiat which is still very easy to use in everyday life for every need in life, so the use of fiat in offline life is still very dominant than Bitcoin.

[Detritus]

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 you should have been more specific on your question. You did not mention if it was cryptocurrency or fiat currency.
Bitcoin is the first thing (crypto coin) anyone would mention if they were to be asked what cryptocurrency do they know, that is because Bitcoin is already serving it's purpose in many countries.

can Bitcoin become a global currency?

 *In terms of  other cryptocurrencies: Bitcoin is the first crypto anyone would think of or heard of, even before any other cryptocurrency so Bitcoin can become a global crypto currency.
  *In terms of Fiat currency: Bitcoin is known as a digital asset that operates in a decentralised system so it can not serve as a fiat currency because because  there for can not become a global currency for all. Most companies/business may decide to accept payment in Bitcoin but it can not complete be a global fiat currency.

[EdenHazard]

I think fiat remains irreplaceable in becoming a global currency. so Bitcoin can not shift the position of fiat. but in fact that bitcoin has actually become a digital currency that is used globally on the internet. so I can say that bitcoin has become a global currency in internet users.

That is because of the different nature of the two and also based on the usefulness of each currency. So that Bitcoin is still widely used via the internet because it is also easier to use and use by the Bitcoin users themselves. Likewise with fiat which is still very easy to use in everyday life for every need in life, so the use of fiat in offline life is still very dominant than Bitcoin.

Despite fiat dominance , i would say that bitcoin has been a global currency right now , especially post-war between ukraine and russia ... there is a lot of transaction made through bitcoin due some payment restriction especially for those who come from russia , bitcoin become a safe haven!

Other than that , it's been quite wide used around the globe and when they faced an international payment problem ... bitcoin often comes to someone's mind. It's become a standard for bitcoin though.

[NicNacCoin]

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.

Cryptocurrencies are now all over the world.There will come a time when the whole world will use cryptocurrencies together.People are reaching the peak of progress day by day but everything is progressing more and more.Every person now always wants more convenience.But everything but we see in cryptocurrency we can send millions and billions of dollars from one customer to another in an instant.And there are more special benefits that are seeing people flocking to Bitcoin more and more.Still since Bitcoin is popular with everyone then surely we can say it is a global currency.Bitcoin is used by people all over the world but some countries still declare it illegal.

[Wimex]

Since it was created and gained so much fame, bitcoin has caused numerous speculations. Many experts are confident that it will become a currency used throughout the world in a very short time, and others just think that it will continue its normal course. The truth is that this currency is very unpredictable, most who know it know that it works more as a type of savings that produces considerable money in the long or medium term depending on how it is managed, using it as a current currency as it is done with traditional money will be a bit difficult as you would prefer to handle this differently; It may be that if it becomes used by more people and could become very important in the future for world economies, but I doubt very much that it can replace traditional assets.

[BALIK]

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.

It is the fact that we have always wanted bitcoin to be the currency of the world that has made the government more annoyed with bitcoin. I must admit that this is highly unlikely and seems like a mission impossible, how will the fiat system disappear and be replaced by bitcoin? It is unlikely that the government will allow that to happen, regardless of what they have to do, unless they figure out how to control the entire bitcoin market.

[amishmanish]

If we see the adoption of Bitcoin in last 15 years, i see a masive increase in Bitcoin adoption rate. Today many countries have already legalized Bitcoin as an legal tender. What more is that it is a international currency with foolproof security and anonymity. I think Bitcoin is ideal as a international currency.

[BobK71]

The use of Bitcoin has grown comparatively high. Because we can all guess one thing that in future Bitcoin will increase the widespread use of digital currency along with fiat money. Sending and receiving payments through Bitcoin is very easy which will reduce the hassle of using it all over the world. Although fiat money will have its uses, Bitcoin is going to be one of the big assets of people. Now a days people call it as a digital gold.

[witcher_sense]

If we see the adoption of Bitcoin in last 15 years, i see a masive increase in Bitcoin adoption rate. Today many countries have already legalized Bitcoin as an legal tender. What more is that it is a international currency with foolproof security and anonymity. I think Bitcoin is ideal as a international currency.

Pardon my ignorance, but which countries besides El Salvador and perhaps the Central African Republic have come so far as to declare bitcoin a legal tender on their territories? And the follow-up question would be like this: Does bitcoin actually need the government's approval to become a widely-used currency? I mean those legal tender laws were designed to coercively impose on people fiat currency that naturally has terrible monetary characteristics because it is being printed up out of thin air, and therefore its supply gets continually expanding. In contrast to fiat currencies, the issuance of bitcoin is algorithmically determined, which means each participant on the market knows in advance what the actual supply will be, and they can make a thoughtful economic decision based on this knowledge. But what is more important in this case is that bitcoin value (or, to put it precisely, bitcoin price) is determined by the fundamental laws of the free market, namely supply and demand. There is no place for government coercion in such a market, all attempts to control attitude toward bitcoin via rules like legal tender laws only distort briefly economic reality, which in turn is trying constantly to come to an equilibrium where supply meets demand to clear the market. It is important to realize that a world where bitcoin is a globally accepted currency is also a world in which no one particular has control over the such currency. All attempts to "legalize" bitcoin via legal tender laws are nothing else but the government's approach to making people believe government can control bitcoin, while in reality, they only reconcile with the inevitable.

[BlockchainMentors]

Bitcoin is volatile in nature so it is difficult to become global currency. Yes, we know it is emerged over past decades and its key features of decentralization can made it global currency in future

[Abiky]

Pardon my ignorance, but which countries besides El Salvador and perhaps the Central African Republic have come so far as to declare bitcoin a legal tender on their territories? And the follow-up question would be like this: Does bitcoin actually need the government's approval to become a widely-used currency? I mean those legal tender laws were designed to coercively impose on people fiat currency that naturally has terrible monetary characteristics because it is being printed up out of thin air, and therefore its supply gets continually expanding. In contrast to fiat currencies, the issuance of bitcoin is algorithmically determined, which means each participant on the market knows in advance what the actual supply will be, and they can make a thoughtful economic decision based on this knowledge. But what is more important in this case is that bitcoin value (or, to put it precisely, bitcoin price) is determined by the fundamental laws of the free market, namely supply and demand. There is no place for government coercion in such a market, all attempts to control attitude toward bitcoin via rules like legal tender laws only distort briefly economic reality, which in turn is trying constantly to come to an equilibrium where supply meets demand to clear the market. It is important to realize that a world where bitcoin is a globally accepted currency is also a world in which no one particular has control over the such currency. All attempts to "legalize" bitcoin via legal tender laws are nothing else but the government's approach to making people believe government can control bitcoin, while in reality, they only reconcile with the inevitable.

Bitcoin doesn't need the government's approval to survive. Making Bitcoin legal tender would only increase mainstream adoption, as institutional investors and VCs join the game. But even if Bitcoin is "outlawed", it would still be possible to use it because of the way it was designed. Of course, one would need to be careful when deciding to get into the Bitcoin game in a country where it's been proclaimed as "illegal". If you get caught, you could easily face prosecution from the government (jail time, fines, etc.). To say the least, Bitcoin is NOT a currency adopted by governments worldwide, but it's a global currency because anyone can use it with an available Internet connection. I don't mind about Bitcoin becoming only an alternative than a replacement of the existing Fiat system, as long as it works as intended. Who knows if Bitcoin is still with us decades from now? Just my thoughts

[Republikcoin.com]

Actually, that statement has happened, even we have entered where the digital era has begun to dominate our world, even we buy food or buy goods already using digital all-round use Online, as the years go by the digital world is growing and that's why we are forced to follow the current trend, so it's not surprising for me to answer this statement..

This is the time, even though the traditional use of money still exists today. But the use of digital money through various applications is something that has happened and is also developing at this time so some people who are still not familiar with such things have to start getting used to it and learn to use it so that their business can run very smoothly.
Because at this time shopping has become easier if everyone knows how to use money digitally and I am waiting for all countries to adopt Bitcoin so that Bitcoin can be used in all shopping.

[kamvreto]

Actually, that statement has happened, even we have entered where the digital era has begun to dominate our world, even we buy food or buy goods already using digital all-round use Online, as the years go by the digital world is growing and that's why we are forced to follow the current trend, so it's not surprising for me to answer this statement..

This is the time, even though the traditional use of money still exists today. But the use of digital money through various applications is something that has happened and is also developing at this time so some people who are still not familiar with such things have to start getting used to it and learn to use it so that their business can run very smoothly.
Because at this time shopping has become easier if everyone knows how to use money digitally and I am waiting for all countries to adopt Bitcoin so that Bitcoin can be used in all shopping.

The use of digital money with several digital Fiat wallet applications covers almost all circles. I currently rarely even use physical money to buy my necessities and shop just do a barcode scan and it's done. However, the implementation of payments using bitcoin is still an obstacle, because the risk is still very high and some beginners and people who are new to bitcoin will still think about using it. Another problem is that the regulations that stipulate each region are different. this is an obstacle to bitcoin adoption, but we'll see in the future, it will gradually follow the good modern era so that bitcoin or crypto can be well received by anyone.

[witcher_sense]

Bitcoin doesn't need the government's approval to survive. Making Bitcoin legal tender would only increase mainstream adoption, as institutional investors and VCs join the game. But even if Bitcoin is "outlawed", it would still be possible to use it because of the way it was designed. Of course, one would need to be careful when deciding to get into the Bitcoin game in a country where it's been proclaimed as "illegal". If you get caught, you could easily face prosecution from the government (jail time, fines, etc.). To say the least, Bitcoin is NOT a currency adopted by governments worldwide, but it's a global currency because anyone can use it with an available Internet connection. I don't mind about Bitcoin becoming only an alternative than a replacement of the existing Fiat system, as long as it works as intended. Who knows if Bitcoin is still with us decades from now? Just my thoughts

So, in your opinion, places or countries where bitcoin has gotten the legal tender status are much safer for the average law-abiding person than countries where bitcoin is illegal or has no status whatsoever. In most cases, this reasoning is true and perfectly justified because when the government recognizes something as "right," people expect protection from the government when interacting with this "right" thing, whereas in places where bitcoin is not recognized, people often fall victims to different scams and dubious schemes without the hope to find justice. On the one hand, you feel protected from these scams, and more importantly, you can do business with other people and transact with them openly using bitcoin. On the other hand, money loves silence but the necessity to disclose the fact that you possess bitcoin kind of puts it in danger and makes it subject to confiscation in case the government changes its mind. And it certainly will one day, particularly when people's holdings in bitcoin exceed the government's reserves. People in less prosperous countries aren't forced to disclose financial information such as interactions with bitcoin. They learned the hard way how dangerous government can be when it is seeking money and power.

[348Judah]

fiat has an infinite supply value while bitcoin has a finite supply of 21 millions, the more we experience growth over time with bitcoin adoption regardless of the situations around, this is what everyone is on a look for everywhere on the internet, bitcoin.


https://twitter.com/mcshane_writes/status/1561410281519153155?t=CpmbW1VUgss0Hj0OuiEplQ&s=19

sometimes what we see big comes down gradually while the ones of average begin to grow with steady development, time and chances place us with divers opportunity and this present era of digital world of bitcoin in cryptocurrency has been an illumination on every nooks and crannies of fiat downfalls, failures and challenges and with bitcoin, things can come into newness and turn a complete change.