Bitcoin will not become the world currency.

[nullama]

~snip~
This may be good news for Bitcoin and it is what we want, yet I have my reservation about it, there is a lot of nonsense going on in Africa right now. Most of those African countries can't decipher their right from their left, I only hope they know what they are doing and the risk involved. If it were to be an advanced country, I would have been so happy, but I don't get so excited reading such from an African country pushing for Bitcoin or adopting the same as a legal tender, this is because they might only use it for their selfish and political gain.

Their political leaders know how they could use the coin to launder money and aid corruption, that's my concern.

Yeah, it's a tricky situation what's happening in Africa.

It's only a matter of time to see what will happen, but Central African Republic already is causing issues because they adopted Bitcoin as legal tender and they're supposed to be adopting a CDBC as a block of a few African countries instead.

Not sure what will happen to them, but the fiat people are not very happy about it.

[1715434273]

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[kro55]

The Bitcoin network is the first truly global payment system. It respects no borders, is never closed, is owned by no one, and is accessible to everyone. Now people still invest more in Bitcoin than use it.
If Bitcoin is allowed to be used globally by governments, that will be the pinnacle of Bitcoin. Can bring convenience to people. More people will use Bitcoin. Bitcoin needs to be allowed by the laws of each country to become a world currency, otherwise it will be very difficult.

But unfortunately, that will never happen. Dreaming of bitcoin being mass-accepted by governments as a world currency is indeed an impossible task. Currently, only 2 countries accept bitcoin as legal tender and both are struggling due to weak economies and mounting debt. They're betting their economy on bitcoin because they don't have a better solution either. But for countries with strong economies, there is no reason to get rid of their own currency and adopt a decentralized currency. Especially the US, whose USD is considered the world's standard currency, will never let this happen.

[Derrickiell]

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.

Although Bitcoin is decentralized and can effectively alleviate inflation, it will not become a world currency. Some countries now recognize its legalization, but Bitcoin is a volatile and unstable asset, and it is difficult to be accepted as a currency by all countries. Many governments are reluctant to accept Bitcoin because they cannot control it.

[Abiky]

But unfortunately, that will never happen. Dreaming of bitcoin being mass-accepted by governments as a world currency is indeed an impossible task. Currently, only 2 countries accept bitcoin as legal tender and both are struggling due to weak economies and mounting debt. They're betting their economy on bitcoin because they don't have a better solution either. But for countries with strong economies, there is no reason to get rid of their own currency and adopt a decentralized currency. Especially the US, whose USD is considered the world's standard currency, will never let this happen.

Exactly. We can't expect all of the world's governments to welcome Bitcoin with open arms, especially when it's decentralized. There should be further opposition against the cryptocurrency down the road, since governments don't want to lose power/control over their citizens. What matters is that Bitcoin stays decentralized so that it could stand the test of time. All you'd need is an Internet connection to access the Bitcoin blockchain anytime, anywhere in the world.

Popularity for the cryptocurrency is increasing at a very fast pace, so it should only be a matter of time before Fiat loses traction in the mainstream world. Who knows if we get lucky by holding Bitcoin long term? Just my thoughts

[nullama]

~snip~
Although Bitcoin is decentralized and can effectively alleviate inflation, it will not become a world currency. Some countries now recognize its legalization, but Bitcoin is a volatile and unstable asset, and it is difficult to be accepted as a currency by all countries. Many governments are reluctant to accept Bitcoin because they cannot control it.

I can definitely see Bitcoin as the base of most international payments.

It doesn't really matter too much if the price of Bitcoin is volatile if you're converting Fiat1 to Bitcoin then sending it through the Bitcoin network and then converting Bitcoin to Fiat2, as it would be pretty much at the same price given the minutes of difference.

After that is done, then I can see that people will just want to skip the unnecessary fiat step.

[macson]

who are you, are you from the future?

there no reason not to accept bitcoin as the world currency in the future!

the world continues to develop and cannot be stopped, development for the sake of developing cryptocurrency also continues, bitcoin currently has the Lighting Network option and adoption has been carried out by several agencies ^{(whether government or privately owned in countries that are friendly to bitcoin)} it will be transmitted to the country other. 

so far there are dozens of FUDs that attack bitcoin every day but none of them make the price of bitcoin drop drastically or even crash, this proves that bitcoin is highly trusted by many people and the currency that is trusted is one that is very suitable to be a world currency.

[Zilon]

The interesting thing is, Bitcoin doesn't need government approval to become the world currency. With the level of popularity and awareness Bitcoin has attained in recent years, It might not necessarily become the world currency, but it can become the most preferred means of payment which the world is gradually coming to. It will come to a point the world will lose hope in government policies because of it failures and irregularities and Bitcoin will become the next channel of concern and this done without government approvals or concern.

[nullama]

The interesting thing is, Bitcoin doesn't need government approval to become the world currency. With the level of popularity and awareness Bitcoin has attained in recent years, It might not necessarily become the world currency, but it can become the most preferred means of payment which the world is gradually coming to. It will come to a point the world will lose hope in government policies because of it failures and irregularities and Bitcoin will become the next channel of concern and this done without government approvals or concern.

Absolutely true.

Right now Strike for example is using Bitcoin to transfer money around the world, it's already working in El Salvador, Argentina, and USA.

It's basically being used as the world currency (for those 3 countries so far, but more coming in the future).

It's just common sense, the underlying network for money transfer will be Bitcoin, then they will skip fiat altogether.

[Victorik]

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.

That's your personal opinion anyway and by the way, no one was expecting BTC to replace money as a the world currency.
BTC can not be goat currency,. Will gold ever become world currency? Obvious answer is no! So, expecting BTC to be world currency is nothing but a mirage.
BTC is a digital asset.

[Abiky]

Absolutely true.

Right now Strike for example is using Bitcoin to transfer money around the world, it's already working in El Salvador, Argentina, and USA.

It's basically being used as the world currency (for those 3 countries so far, but more coming in the future).

It's just common sense, the underlying network for money transfer will be Bitcoin, then they will skip fiat altogether.

Slowly but surely, countries are adopting Bitcoin as an alternative to Fiat. Banks have shown us they've failed in helping restore the economy back to its original state. They've kept printing more money, effectively debasing mainstream Fiat currencies. Since Bitcoin is deflationary and cannot be controlled by banks, it could prove to be a solution to all of the world's problems. The more people lose trust in banks, the better for Bitcoin.

I'd say Bitcoin is more than just a "worldwide currency". It's freedom that empowers you to take control of your own life without the need to worry about oppressive governments and central banks. The revolution is just getting started, so who knows if early adopters like us will get lucky someday? Just my thoughts

[nullama]

~snip~
Slowly but surely, countries are adopting Bitcoin as an alternative to Fiat. Banks have shown us they've failed in helping restore the economy back to its original state. They've kept printing more money, effectively debasing mainstream Fiat currencies. Since Bitcoin is deflationary and cannot be controlled by banks, it could prove to be a solution to all of the world's problems. The more people lose trust in banks, the better for Bitcoin.

I'd say Bitcoin is more than just a "worldwide currency". It's freedom that empowers you to take control of your own life without the need to worry about oppressive governments and central banks. The revolution is just getting started, so who knows if early adopters like us will get lucky someday? Just my thoughts

That's right.

And I think there's lots of people that just simply see Bitcoin as a price ticker, just like a company. This is lacking a massive understanding of what Bitcoin can do for you.

Many of those people are happy with the banks, and they will continue to live their lives with fiat as the largest part of their life.

With Bitcoin you can actually separate money with state. That's unique, and powerful. That's why most central banks are against Bitcoin.

But things are turning, from 2025 central banks will be able to have up to 2% of their reserves in Bitcoin, allowed by BIS (basically the Central Bank of Central Banks)

[Hamphser]

Absolutely true.

Right now Strike for example is using Bitcoin to transfer money around the world, it's already working in El Salvador, Argentina, and USA.

It's basically being used as the world currency (for those 3 countries so far, but more coming in the future).

It's just common sense, the underlying network for money transfer will be Bitcoin, then they will skip fiat altogether.

Slowly but surely, countries are adopting Bitcoin as an alternative to Fiat. Banks have shown us they've failed in helping restore the economy back to its original state. They've kept printing more money, effectively debasing mainstream Fiat currencies. Since Bitcoin is deflationary and cannot be controlled by banks, it could prove to be a solution to all of the world's problems. The more people lose trust in banks, the better for Bitcoin.

I'd say Bitcoin is more than just a "worldwide currency". It's freedom that empowers you to take control of your own life without the need to worry about oppressive governments and central banks. The revolution is just getting started, so who knows if early adopters like us will get lucky someday? Just my thoughts

It would just become alternative no matter how it would progress out and it wasnt been created in the first place on replacing fiat but rather to become an alternative which it isnt a surprise.
Its true that its not bad on being optimistic but you shouldnt really make yourself that too hopeful on things which arent that possible to happen.Of course it wouldnt become as a main currency but doesnt mean
that it would be having no use but rather it would become just alternative.The thing on here is that you arent really just making use of it to have transactions but also you do have the chance and potential
on earning profits while you are still holding it and that what makes it really that very interesting which i couldnt blamed out the entire community on what are their main motives on dealing with this.

[8rch7]

The interesting thing is, Bitcoin doesn't need government approval to become the world currency. With the level of popularity and awareness Bitcoin has attained in recent years, It might not necessarily become the world currency, but it can become the most preferred means of payment which the world is gradually coming to. It will come to a point the world will lose hope in government policies because of it failures and irregularities and Bitcoin will become the next channel of concern and this done without government approvals or concern.

It is true that bitcoin does not require approval from the government, even now there are countries that accept bitcoin payments, but to make bitcoin a world currency is impossible, because bitcoin cannot be accepted in general, has no stability and no country has provided guarantees legitimacy of bitcoin, because to be accepted as a world currency must meet the requirements,
1, Acceptability means that the money can be accepted in general,
2, Durability, has resistance and is not easily damaged,
3, Stability of value, meaning that money has a stable value for a long time, etc.

[Gracejoy]

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.

Government can't never support bitcoin become it's decentralised technology, Bitcoin has given the citizens the ability to control their assets in a private manner, making difficult for government officials to regulate money and people worth.

[Cvetik56]

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.

Government can't never support bitcoin become it's decentralised technology, Bitcoin has given the citizens the ability to control their assets in a private manner, making difficult for government officials to regulate money and people worth.

True. It's hard to understand how can government accept and adopt Bitcoin when it was made for people to be used without the government involved in it.

[jokers10]

True. It's hard to understand how can government accept and adopt Bitcoin when it was made for people to be used without the government involved in it.

If some tool is made for some exact purpose it doesn't mean that it can't be used in some another case. Yes, bitcoin is made as an alternative to a classical fiat financial system, but if governments will adopt new era economy they can easily use bitcoin as well. During history things change all the time and just 35 years ago there was no Internet and some could ask how government will allow it if it has less ways of controlling info in it. And you can see what happened. And we'll see what would be with bitcoin also.

[Blawpaw]

I guess that we can already consider that Bitcoin is in fact a World currency. Bitcoin can be used pretty much anywhere. Anyone can use it, and there is no dependency on banks or other third parties. One can travel around the world just using Bitcoin, so it means that this is in fact a currency that goes far beyond any other fiat currency.

Now, you can say that legally, Bitcoin will never become an accepted and regulated international currency, but the fact is that Bitcoin is an alternative to the fiat system and as an alternative it already made its way to be accepted as a World currency anyway.

[Smartprofit]

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.

In my opinion, Bitcoin has a great chance of becoming the world's reserve currency.  It is no coincidence that Bitcoin is called "digital gold". 

I believe that in the future, the Central Banks of all countries will have Bitcoin in their gold and foreign exchange reserves.  Also, the first cryptocurrency will be an integral part of the reserves of large pension funds, public and private corporations, as well as very rich and influential oligarchs - individuals. 

As for the use of Bitcoin as a means of payment, then the prospects are less optimistic. 

The Bitcoin network has a lot of flaws at the technological level that prevent its widespread use as a means of payment.

[Bobrox]

I don't totally agree about Bitcoin will not become the world currency because all digital currency regulation based on government and parliament, we can't predicting at the future when parliament filled by people enthusiast with cryptocurrency will get impact for Bitcoin become legal currency payment transaction.

Nowadays still many parliament in several countries dominance by people dislike about Bitcoin as digital currency payment, but after El Savador adopted Bitcoin as legal digital currency payment, I sure many other country will follow what did by El Savador and waiting with new and young parliament dominance in some countries to see Bitcoin become world currency payment.

[karabiber]

Bitcoin should not be the world currency anyway. But we must ensure that its use is as widespread as fiat currency. I don't remember any fiat money that could be sent from one end of the world to the other in a short time at no cost. Fiat money is riskier than bitcoin for me. It scares me that fiat money is inflationary and the value of money is being turned into a shithole by central banks. I hold Bitcoin because i know that in the future, it will be enough to buy everything.