Bitcoin will not become the world currency.

[GreatArkansas]

(....)
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.

Bitcoin is really not a fiat currency. Fiat currency is the opposite of Bitcoin. For me, that's one of the many reasons why Bitcoin is still here, because of our current problem with traditional finance.
Bitcoin got a lot of differences from fiat currency, just like the unlimited supply of fiat currencies versus Bitcoin.

I respect your opinion but seems you are using the wrong words. Maybe you want to say, Bitcoin will not be globally accepted or will become official legal tender for all of the countries.

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[Darker45]

Of course, Bitcoin won't become a fiat currency. Why would you think it develops into that? Bitcoin was created in reaction to the fiat currency which is what a currency shouldn't be. Bitcoin was the solution to all the failures of fiat.

Well, today, Bitcoin is both an asset and a currency. It is being accepted by businesses all over the world, and people are spending Bitcoin to pay for goods and services. With its anti-inflationary design, however, it is also being treated as an asset, a way to store inter-generational wealth.

As to governments not liking Bitcoin, it is understandable, of course. However, since they cannot stop it anyway, it doesn't matter.

[pixie85]

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.

Inflation is intended but it's the size that matters!

1% - 5% inflation is ok. 5%-10% is alarming but bearable. Above 10% it starts to destroy economy. If it's not managed it can lead to bank runs and people burning cash like they did in Zimbabwe and many other collapsing countries.

This means that you're wrong by saying inflation is not an issue. Ask people in Turkey if they think it's not.

[DapanasFruit]

In the first place, I don't think Satoshi Nakamoto envisioned to make Bitcoin the globally recognized currency just like the USA Dollar which is being used in international trading and commerce. We could never expect big governments of the world to make Bitcoin as the official currency by choice all because this is something beyond their control and manipulation, not to mention its extreme volatility which can make planning into the future unrealistic - just imagine preparing a national budget pegged in Bitcoin and only to see its value slashed by 40% the following year! The way I am seeing is that Bitcoin is meant to be the best alternative currency that people can hold and use. Bitcoin is of the people, for and by the people and it made me realize also that the entrance of big business into Bitcoin make things unruly just like the direct and indirect side-effects of FTX collapse to Bitcoin.

[Ayers]

As to governments not liking Bitcoin, it is understandable, of course. However, since they cannot stop it anyway, it doesn't matter.

Don't underestimate the government, I still think they can hold back the growth of bitcoin, they can't stop bitcoin, but they can prevent us from using it if they really want to do it. But the problem is that banning bitcoin won't do them any good, and they realize it, that's why regulations are in place, and what they want now is taxes.

After all, we live in a society and this society is controlled by the government and bitcoin is also part of society so let's not say it is possible to hide from the government. I don't want to fight them, fighting them is not in our favor.

[Davidvictorson]

Bitcoin is not going to become a global currency because, there are many seen and unseen forces that will keep influencing the financial system in order to maintain their power and their capacity to profit from it. Secondly, despite the fact that bitcoin is potentially unstoppable, governments that want to safeguard the authority of their sovereignty therefore, they are finding several ways to at the very least attempt to stifle BTC.

[shawanetata]

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?

This is only one of the few countries where bitcoin can be used freely to exchange for foreign currency. Of course, this is an excellent phenomenon, and I believe that in the future Bitcoin will be used in more countries than the current ban.

[Riodarvg]

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.

The goal of Bitcoin is not to become the world currency, and no one wants it to be the world currency. As a currency, it will coexist with other currencies and cannot replace other currencies.
Bitcoin is not so much a currency as it is a tool for investors. Investing in Bitcoin can avoid inflation, and long-term holding can also make profits.

[alexandr1115]

Bitcoin is not going to become a global currency because, there are many seen and unseen forces that will keep influencing the financial system in order to maintain their power and their capacity to profit from it. Secondly, despite the fact that bitcoin is potentially unstoppable, governments that want to safeguard the authority of their sovereignty therefore, they are finding several ways to at the very least attempt to stifle BTC.

It's more like big banks and funds, on the contrary, are trying to buy bitcoin! Because they may be no less interested in Bitcoin than ordinary investors! Of course, such news is probably not advertised to the general public, but it is clear that banks or large corporations are also interested in buying bitcoin!

[Falconer]

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.

OP, you should know that bitcoin was created as a currency or means of payment. Bitcoin is a new currency that you can use for unlimited transactions, it is not controlled by any government and authority and is completely decentralized. If you don't agree to recognize it as currency, that's fine because you may have other options for making transactions. The fact is bitcoin is not the only currency accepted in this world and bitcoin is not the main currency, so bitcoin should be an alternative currency for anyone who needs it and supports it.

Governments can certainly consider bitcoin as a currency and adopt it, that's because they know what its advantages and advantages are over fiat. Even if they will never do away with fiat, then they know what bitcoin's economic value is.

[jokers10]

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

It will never.

But let's return to the main question if Bitcoin can become a world currency. It depends on how do we understand the term world currency. If it is about that Bitcoin can be used globally one day not meeting significant restrictions from governments, I think it is possible. Not immediately, not even very soon, but in the not so far future.

And if we talk about that Bitcoin will become an only currency for entire world, it hardly can be so. Because of idea of decentralization: Bitcoin is decentralized by itself, but it also means that a financial system around it is also getting the traits of decentralization. So now we've got lots of altcoins and there will be even more in the future. Bitcoin can't centralize the financial system just arount itself because of own decentralized nature.

[Party24*7]

Sure, bitcoin will always be bitcoin, there is no need to become a centralized product like currency, and as long as governments exist, bitcoin will never replace fiat money. Those are just a bit exaggerated thoughts of bitcoin fanatics. I never want bitcoin to become a currency because it will be controlled and become stable, then we cannot make a profit so don't expect it to become a currency.

[noormcs5]

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.

I know that the government opposes bitcoin and they never want bitcoin to become the day to day currency, but for low long the can control the people. We all know that fiat currencies globally are losing value because of inflation. Sooner or later, people will let go of the fiat currency and invest in something, which is a store of value and bitcoin will be the best option for them.
Do not lose hope as the next finical crisis will bring more boom to the cryptocurrencies and bitcoin will gain more popularity and eventually, the government would have no choice but to accept bitcoin.

[freedomgo]

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

Obviously, Bitcoin wasn't created to replace the use of fiat nor will become a world currency and bitcoin is not in competition with the fiats, in fact, it's the other way around as the fiats that are backed by the governments are the ones who sees the bitcoin as their competitor because it's been already widely used and been praised by a lot of people around the world especially investors.

[panganib999]

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.

It doesn't have to be the world's currency. Surely some visionaries of bitcoin may think it should be but for me it doesn't have to be recognized in that high a scale for it to be useful to humans. Bitcoin adoption in its root just means a majority of the world's population using crypto or in this case bitcoin for transactions and some daily processes that requires it. Even right now that only a small portion of the population uses it we are already seeing its great effects. Also you are right, the attitude of the government regarding bitcoin and its usage is too sour for it to really see good usage, so even if global adoption is indeed achievable in the foreseeable feature, it must come with a huge paradigm shift on the governments' part to be realized.

[romero121]

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

Obviously, Bitcoin wasn't created to replace the use of fiat nor will become a world currency and bitcoin is not in competition with the fiats, in fact, it's the other way around as the fiats that are backed by the governments are the ones who sees the bitcoin as their competitor because it's been already widely used and been praised by a lot of people around the world especially investors.

As in the quote bitcoin wasn't innovated to end the usage of fiat system and take its position. Bitcoin was found to be better than the fiat system in all aspects. This makes the traditional currency to create opposition against the usage of bitcoin. This is why we come to see news about different countries and it's governments standing against the usage of bitcoin.

Slowly the countries that were against the usage of bitcoin have come with the plan of accepting the usage. Some country have legalized it whereas few have regulated the usage.

Bitcoin is already an universal currency for the reason of getting converted to any currency with ease. This isn't possible even with the dollar, so in one form it have already reached the state of being a world currency.

[lionheart78]

As to governments not liking Bitcoin, it is understandable, of course. However, since they cannot stop it anyway, it doesn't matter.

Don't underestimate the government, I still think they can hold back the growth of bitcoin, they can't stop bitcoin, but they can prevent us from using it if they really want to do it. But the problem is that banning bitcoin won't do them any good, and they realize it, that's why regulations are in place, and what they want now is taxes

I highly agree if the government wanted to obliterate Bitcoin support and adoption, they can easily do that.  They can ban Bitcoin usage in their country and make those who do not follow set behind bars.  Most of the government is actually being lenient on Bitcoin because the see something on it that can profit them.  Bitcoin can be the world's great alternative currency but it will not become the world currency because there will be authorities preventing that.

After all, we live in a society and this society is controlled by the government and bitcoin is also part of society so let's not say it is possible to hide from the government. I don't want to fight them, fighting them is not in our favor.

True, citizens are being controlled by the government through laws and the constitution. We are set to follow the government law and there is nothing we can do with it unless we revolted and create our own government which I don't think is a good idea.

[S A KHAIR]

If bitcoin becomes currency, it becomes stable, why would anyone want it to become currency? I agree with the OP, I don't want bitcoin to become too popular and recognized by the government anymore. Let's keep it a special asset, a volatile and profitable asset for us, don't try to turn bitcoin into a government controlled currency, no currency can be freely accepted without government control.

[BitDane]

Of course, Bitcoin won't become a fiat currency. Why would you think it develops into that? Bitcoin was created in reaction to the fiat currency which is what a currency shouldn't be. Bitcoin was the solution to all the failures of fiat.

So you are saying that the failure of fiat currency is the meddling of the financial institution in a transaction?  We all know that Bitcoin is created to enable cheaper person to person borderless electronic transfers without the need for financial institution approval. That is according to the Bitcoin whitepaper.

Well, today, Bitcoin is both an asset and a currency. It is being accepted by businesses all over the world, and people are spending Bitcoin to pay for goods and services. With its anti-inflationary design, however, it is also being treated as an asset, a way to store inter-generational wealth.

Not only anti-inflationary but a deflationary design that makes Bitcoin rarer as more people lost their wallet private key.

As to governments not liking Bitcoin, it is understandable, of course. However, since they cannot stop it anyway, it doesn't matter.

Government hate anything they can't control so Bitcoin being decentralized is one of those that government doesn't want to get involved with originally, but with the promising possible profit from that young industry, government are forced to regulate instead of banning Bitcoin. 

With all of these things, still Bitcoin will not become the world currency because the government will not approve it.

[Abiky]

Bitcoin is really not a fiat currency. Fiat currency is the opposite of Bitcoin. For me, that's one of the many reasons why Bitcoin is still here, because of our current problem with traditional finance.
Bitcoin got a lot of differences from fiat currency, just like the unlimited supply of fiat currencies versus Bitcoin.

I respect your opinion but seems you are using the wrong words. Maybe you want to say, Bitcoin will not be globally accepted or will become official legal tender for all of the countries.

Besides the fact that Fiat is centralized, its supply constantly grows over time (something known as inflation). Bitcoin is the opposite of this, by not only being a decentralized cryptocurrency no one can stop, but also being finite by design (deflationary). Satoshi made sure to create Bitcoin a unique kind of cryptocurrency, unlike anything we've ever seen before. We can never expect governments to ditch Fiat in favor of Bitcoin, especially when all they want is control over society. Without control, it would be complete chaos (according to them).

I'm fine with Bitcoin being an alternative than a replacement of Fiat as long as it fulfills its purpose in the real world. If things go on as they should, we should expect Bitcoin to live alongside Fiat for generations. I'm pretty sure most (if not all) countries will adopt Bitcoin as a secondary means of payment (legal tender) in the future. Who knows if we'll become rich by being early adopters of the revolution? Just my thoughts