Bitcoin will not become the world currency.

[TungTresa]

In 2019, I was fascinated by Bitcoin after I was introduced to it. I have been following the attitude of governments towards bitcoin and hope it will be promoted. However there has been too much negative news in the past two years. I reacquaint myself with bitcoin and fiat money.

Money is a tool for exchanging goods and services in human social life, and whichever tool makes it into the system becomes the de facto currency. Governments regulate the economy by issuing money, which means they can control it. Bitcoin, on the other hand, cannot be controlled, which is why we like it, but also why governments don't like it.

After I figured it out, I no longer expect Bitcoin to be recognized by the state, and it doesn't need to be. It is part of a special asset, not a currency.
So I don't think Bitcoin is going to become a fiat currency.

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[SirJohnVonSlotty]

So I don't think Bitcoin is going to become a fiat currency.

I don't think that anyone questioned that anywhere, or am I wrong?

The point of crypto as a whole is to be outside of the gov regulated bubble, not to become one.

[Edwardard]

I no longer expect Bitcoin to be recognized by the state~

Bitcoin is already well recognized by all the world governments and everyone who uses internet already knows about it (whether they own it or not).

So I don't think Bitcoin is going to become a fiat currency.

Yeah, its way better than that inflationary shitcoin, isnt it?

[YOSHIE]

So I don't think Bitcoin is going to become a fiat currency.

Everyone admits that...it's been discussed many times about it.

Bitcoin doesn't need to be made into a world currency, besides Satoshi Nakamoto doesn't agree that Bitcoin is made a world currency, that's not the purpose of the creators of Bitcoin, the world has its own understanding and Satoshi also has a different understanding from the world.

You see what I quoted below.

The purpose of creating the Bitcoin digital currency is to provide a currency that operates in a decentralized manner: spread/not centralized, so that no one party can control both the price and distribution, with its transparency, anyone can see a transactionvia bitcoin explorer.

If you understand the purpose above, I'm sure you don't want to talk about Bitcoin and world currencies.

The understanding of world/paper currencies with Bitcoin/digital is very much different.

[pooya87]

Bitcoin is a currency whether you accept it or not and it was never supposed to become the "world currency" it is supposed to be a global currency which it is.

Governments regulate the economy by issuing money,

Wrong. Governments regular the economy by setting rules and enforcing them not by printing money.

Bitcoin, on the other hand, cannot be controlled, which is why we like it, but also why governments don't like it.

It depends on the country and the government. This is not a global issue.

[2double0]

Who said that we were expecting Bitcoin to be a world 'currency'?
Nobody here can say that Bitcoin is a currency, it is a speculative asset with variable value every moment but has a limited supply and nobody can change that. On other side, currency that we use in our daily lives are not only controlled by government but they can print more money which makes it an inflationary asset with a fixed value (just like USDT and other stablecoins are in crypto world). We love the way Bitcoin is being criticised against fiat because people are still unaware of what Bitcoin really is.

[Cryptolove20015]

In 2019, I was fascinated by Bitcoin after I was introduced to it. I have been following the attitude of governments towards bitcoin and hope it will be promoted. However there has been too much negative news in the past two years. I reacquaint myself with bitcoin and fiat money.

Bitcoin price was very high in 2020-2021. Then I think Bitcoin will become the world currency. Bitcoin is used in almost every country in the world today. But currently the price of Bitcoin is very low. And that's because I think the Bitcoin price is going down because of the two countries. And some countries have banned the use of Bitcoin. Now I think if the price of bitcoin hits in the new year then bitcoin can go back to previous level.I think Bitcoin will become the global coin in the future.

[rhomelmabini]

So I don't think Bitcoin is going to become a fiat currency.

That's not what was written on the whitepaper after all. Well, it wasn't aiming to be the world currency since it will just coexist with other currencies just like what we are seeing right now. Do you think government will be able to kill Bitcoin? No, I doubt that.

[_act_]

Let me quote the topic title and your opinion:

Bitcoin will not  become the world currency.

So I don't think Bitcoin is going to become a fiat currency.

I am in Africa and I use bitcoin to pay for a product in Canada. My brother lives in US and he sent bitcoin to me in just less than 20 minutes and I converted it to fiat and spend it. See El Salvador using bitcoin for remittance.

I can send bitcoin to anyone in the world.

With what I said, is bitcoin not a world currency?

[hZti]

I no longer expect Bitcoin to be recognized by the state~

Bitcoin is already well recognized by all the world governments and everyone who uses internet already knows about it (whether they own it or not).

So I don't think Bitcoin is going to become a fiat currency.

Yeah, its way better than that inflationary shitcoin, isnt it?

Well the Inflation of Fiat is not really the issue since it is intended by the government. The Problem is that bitcoin is not stabel but it deflationary and that is a much bigger issue.

[Rikafip]

After I figured it out, I no longer expect Bitcoin to be recognized by the state, and it doesn't need to be.

But Bitcoin is already legalized as a legal tender in at least two countries (El Salvador and Central African Republic) so it already achieved that (implementation is questionable though).

So I don't think Bitcoin is going to become a fiat currency.

It was never Bitcoin's creator intention anyway, but instead to give us the alternative. If by "becoming fiat currency" mean replacing fiat, Bitcoin has its use even without achieving that (which is imho unrealistic anyway) and majority of bitcoiners are fine with that.

[glendall]

So I don't think Bitcoin is going to become a fiat currency.

because it is true that bitcoin is not used as currency and will never become currency, only as an investment or for payment of certain products with certain agreements
and this problem has been discussed many times

[cabron]

I no longer expect Bitcoin to be recognized by the state~

Bitcoin is already well recognized by all the world governments and everyone who uses internet already knows about it (whether they own it or not).

So I don't think Bitcoin is going to become a fiat currency.

Yeah, its way better than that inflationary shitcoin, isnt it?

But Bitcoin can be used as currency to buy some products. This is also true because the example above means its value is better than the fiat that we adopt for hundreds of years. The fact that the government kept talking about it like ECB having a blog about its last stand means, it really affected them.

The Senate already has been trying to regulate the crypto markets too. BTC is bigger than the world currency.

[348Judah]

OP we have fiat currency which is the old and traditional means of exchange used over the years, when bitcoi was introduced by Satoshi, the entire world accept it because it does not only serve the purpose of currency but also as a good asset to store of value and profitability which they couldn't get in fiat over thebyears than inflation, the importance and values is what ee are after for now, government may not adopt bitcoin as legal tender for now but they all know it has better offer than fiat could give at all times.

[cr1776]

Well the Inflation of Fiat is not really the issue since it is intended by the government. The Problem is that bitcoin is not stabel but it deflationary and that is a much bigger issue.

Another order of magnitude or two of price increases will help bring price stability to bitcoin.  An inflationary currency is a huge problem.  Over 30 years, you can lose more than half your purchasing power in a low inflation environment.  In a high inflation environment like now in many places, it happens much faster.  Something that cost $1 in 1992 costs over $2 today.  Something that cost $1 in 1982 costs more than $3 today.

A non-inflationary currency like bitcoin can protect you from the people who want to steal the products of your life and mind with the hidden, outrageous, abhorrent, highly regressive inflation tax. 

[qwertyup23]

<..snip..>
After I figured it out, I no longer expect Bitcoin to be recognized by the state, and it doesn't need to be. It is part of a special asset, not a currency.
So I don't think Bitcoin is going to become a fiat currency.

Why are people so fixated with the idea of BTC being a replacement for fiat? I do think that it can co-exist with fiat and serve its purpose, if not better.

Imagine if BTC were to be a global currency replacing fiat- that would mean a disaster for most countries given its nature. Not to mention, its limited supply would cause hyperinflation and majority of the whales can somehow manipulate its price on the market.

That is why, fiat and cryptocurrency can co-exist with each other and serve their respective purposes.

[bitzizzix]

It seems a lot of people see bitcoin as a replacement for all other currencies, but I don't think that's possible because if it did, there would be one world government, and it's likely that both would exist and complement each other.
and bitcoin was presented after the 2008 global financial crisis as an alternative currency, independent of any government, a way to enable everyone to escape the shackles of corrupt institutions.
so I don't think bitcoin will replace existing currencies but will overcome their lack of finding their niche with other quality crypto ecosystems.
it's just my opinion but the truth is no one knows even if that happens maybe we won't be in this world anymore.

[SirJohnVonSlotty]

The image needs an update But still relevant.

[electronicash]

yet here we are using Bitcoin. somehow we are rejecting the CBDC they are trying to shove to our asses.
we are not all using BTC as currency. many are just speculators trading it to make money in the market which they still prefer fiat. still the use of BTC depend to what you do with it.

world currency is too much to aim because of the government's negative pronouncement to it but the more they prevent its adoption, the number of users increase every bull run. BTC will still be the eternal winner.

[Iroh]

I don’t think anyone wants or expects bitcoin to replace fiat and become a world currency. I see it like an alternative and better means of payment. Bitcoin is unique and not In competition any means of payment(fiat).
Perhaps, it’s the uniqueness of bitcoin that gets people fazed and then thoughts about bitcoin taking over fiat begin to materialize in their heads.
I think you could say bitcoin isn’t a world currency as every country has its individual currency. In my opinion, bitcoin wasn’t intended to be a world currency