Bitcoin will not become the world currency.

[Desmong]

If you think Bitcoin is not going to be the world currency then you need to understand that Bitcoin still controls the market and there is nothing we can do about that. Bitcoin is the first currency and is still going to continue determining how the crypto market moves which will be a big challenge for other coins. There is nothing we can do about this so just get prepared for massive adoption of Bitcoin soon.

[Ebede]

Many people is given point best OneWorld understand encrypto currency it will be far before Bitcoin take over the world currency because many people is now using Bitcoin as a legal tender in their country despite that the total numbers of country that embrace or welcome Bitcoin it's not as those countries who does not welcome bitcoin as a legal tender so if every country should welcome bitcoin to legal tender it is when it will turn to a world currency

[romero121]

I think the opposite, we are advancing in a world where everything is possible, the AI that we can find as CHATGPT has already come out and it has given a lot to talk about and if this is the case, there is not much time left for some to decide that the best thing to do is leaving many institutions in the hands of an AI that is fairer and more impartial, which would leave opr out of some politicians and this means that when everything about bitcoin is evaluated it will be much better than fiat money because there is no type of inflation or thing that can affect the economy of a country or several countries.

The economy of the United States is the one that I have always admired, but they are in trouble and I think that by the year 2024 they will be able to have more hope that inflation levels will recover, so bitcoin will continue to advance.

On a positive note, we're into technology advancement and the same could make any sort of changes. I'm not sure USA will make a recovery by the year 2024. The market of bitcoin isn't tied to the traditional system, so the market moves were happening independently. For this reason we'll see better days even before the recovery of USA from inflation.

[nullama]

~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.

Bitcoin already is, since a long time ago, a currency that can be used worldwide to pay for goods and services.

This has been true since May 2010 when laszlo paid 10k BTC for 2 large pizzas: https://bitcointalk.org/index.php?topic=137.msg1195#msg1195

You can't pay for goods and services with your local fiat currency directly to another person in another country, it's basically worthless paper until you exchange it for their local fiat currency.

But Bitcoin is accepted worldwide, without the need to exchange it into some local currency. It's a global currency since its creation because it lives on the Internet, which is global by nature.

Bitcoin doesn't need the approval of central banks or governments because it doesn't rely on them at all. That's by design, and that's a great thing.

[Sayakaaja]

bitcoin could be the world's currency, but maybe not.

bitcoin is now increasingly popular and some have adopted it as in the country of el Salvador, it is possible that other countries will also be interested and adopt bitcoin together and eventually become a world currency.

however, bitcoin is something that cannot be controlled and this could be a strong reason why bitcoin cannot be a fiat currency, also feared by governments. so the reason bitcoin won't become a world currency in my opinion is very strong because, fiat currency is always the most important.

but, in my opinion, both are equally important. For example, as a store of value, a medium of exchange, and a unit of account.

[Memorabilia]

Bitcoin wasn’t even created for this purpose. Fiat currency will always remain a part of our economy no matter how potentially Bitcoins grow or get adopted.

[CryptSafe]

If you say that bitcoin would not become the world currency I have no doubt but believe me you bitcoin is the world first presumed  digital currency.  As we know currency is a generally acceptable means of exchange for goods and services which we all know that bitcoin is on the verge of being accepted or adopted as a means of payment in various countries. Bitcoin is more or less a store of value which is equitable to fiat depending on the volume of your purchase power. I know it would be difficult for many nation's to agreeing in adopting bitcoin as a means of payment but gradually, they would see the importance and benefits bitcoin holds and I believe they would adopt it but that does not mean that they would abandon their own native currency as that is their local means of legal tender.

[serjent05]

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 will be recognized by the state and it is already happening.  It needs to be so that Bitcoin adoption won't be disrupted.  Bitcoin has created a currency and you can verify that by looking at the whitepaper abstract.  It isn't made to be a special asset.  And true Bitcoin won't be a fiat currency, it will always be an alternative to currency and the government will not take responsibility for issuing Bitcoin as government-released currency because it is actually not.

[caddywampus2001]

Due to its instability, I don't think that will occur. With government and central bank-developed instruments that help with regulation and its impact on an economy, fiat currency has shown to be a trustworthy medium of exchange.Nobody knows and examine the potential roles that cryptocurrencies will play.
We do not yet know what would happen to global financial stability if cryptocurrencies were to replace fiat money.

In terms of people's use of cryptocurrencies, bitcoin has almost become a global currency. But it will not be used as the state's world currency. For them, this is simply unacceptable. They fully embrace blockchain technology and create their own CBDCs based on it, which will replace their need for digital money. Therefore, a decentralized cryptocurrency is the currency of people and for people, but not for settlements between states.

It is challenging to say with certainty whether or not Bitcoin will replace all other currencies. A few justifications have been offered for why Bitcoin might someday replace fiat money worldwide:. Bitcoin is a "decentralized" cryptocurrency, which means that it is not governed by any one organization, be it a government or a bank. Due to the fact that it is not centralized and subject to the same political influences as conventional fiat currencies, it may be attractive as a global currency. A maximum of 21 million coins can ever be created, limiting the total supply of Bitcoin. Due to the limited supply, which might increase demand and result in a potential value increase over time, it might become more alluring as a store of value. Network effects: With a sizable user base, significant infrastructure, and backing, the Bitcoin network is the largest and most established among cryptocurrencies. As a result, it might have an edge over other cryptocurrencies in terms of adoption and use as a reserve currency. The fact that there are a number of obstacles and restrictions that could prevent Bitcoin and other cryptocurrencies from becoming widely used as a form of payment worldwide should not be overlooked. Scalability issues, regulatory uncertainty, and the possibility of fraud and hacking are some of these difficulties.

I believe that Bitcoin lacks privacy. I invest in Bitcoin and low-cap privacy coins because of this.

[nullama]

~snip~
It is challenging to say with certainty whether or not Bitcoin will replace all other currencies. A few justifications have been offered for why Bitcoin might someday replace fiat money worldwide:. Bitcoin is a "decentralized" cryptocurrency, which means that it is not governed by any one organization, be it a government or a bank. Due to the fact that it is not centralized and subject to the same political influences as conventional fiat currencies, it may be attractive as a global currency. A maximum of 21 million coins can ever be created, limiting the total supply of Bitcoin. Due to the limited supply, which might increase demand and result in a potential value increase over time, it might become more alluring as a store of value. Network effects: With a sizable user base, significant infrastructure, and backing, the Bitcoin network is the largest and most established among cryptocurrencies. As a result, it might have an edge over other cryptocurrencies in terms of adoption and use as a reserve currency. The fact that there are a number of obstacles and restrictions that could prevent Bitcoin and other cryptocurrencies from becoming widely used as a form of payment worldwide should not be overlooked. Scalability issues, regulatory uncertainty, and the possibility of fraud and hacking are some of these difficulties.

I believe that Bitcoin lacks privacy. I invest in Bitcoin and low-cap privacy coins because of this.

I don't think Bitcoin will ever replace other currencies, they will live next to each other, just like cash and cards are living next to each other.

Same as how in El Salvador Bitcoin and USD live one next to each other as legal tender, etc.

[Fara Chan]

bitcoin could be the world's currency, but maybe not.

In my opinion, Bitcoin has great potential to become a world currency, but it's just that many countries still don't legalize Bitcoin and other cryptocurrencies, from this reason it becomes a bit of a serious problem in adjusting Bitcoin to become a world currency, but I see that many countries have accepted Bitcoin, there are also countries that must first exchange it for local money and there are also several countries that do not need to exchange it for local money.

bitcoin is now increasingly popular and some have adopted it as in the country of el Salvador, it is possible that other countries will also be interested and adopt bitcoin together and eventually become a world currency.

You are right, Recently many countries have adopted Bitcoin, the level of popularity of Bitcoin is increasing day by day which of course will have great potential for several other countries that have not yet adopted Bitcoin, maybe they will do it, maybe even in the future. later many countries will legalize Bitcoin, and this is also our hope.
Basically Bitcoin is the world's first considered digital currency.

but, in my opinion, both are equally important. For example, as a store of value, a medium of exchange, and a unit of account.

Yes of course, and one of the most Valuable Storage Assets is Bitcoin, I think this can't be doubted anymore.

[yudi09]

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

It's not necessary and it's not the main purpose of Bitcoin. There is a huge difference between fiat currency and Bitcoin. The purpose of creating Bitcoin is not to become an official currency from what I understand. Maybe you can find out for yourself what Satoshi Nakamoto's motives and goals were in creating Bitcoin.

If a country wants to make Bitcoin an official currency it's up to them. And vice versa.
The Bitcoin operating system is not centralized. That's what needs to be remembered.

[laurenB7742]

bitcoin could be the world's currency, but maybe not.

In my opinion, Bitcoin has great potential to become a world currency, but it's just that many countries still don't legalize Bitcoin and other cryptocurrencies, from this reason it becomes a bit of a serious problem in adjusting Bitcoin to become a world currency, but I see that many countries have accepted Bitcoin, there are also countries that must first exchange it for local money and there are also several countries that do not need to exchange it for local money.

I have the opposite view, bitcoin has no potential to become the world currency because of its decentralization. The government will never let that happen unless they figure out how to control it.
El Salvador recognizes it as legal tender, meaning using it as an official currency since they do not have their own currency, they are using USD and accepting bitcoin as part of their economic recovery plan. For countries with strong local currencies, like the US or China, they have no reason to give up their currency for something they can't control. There is no way for bitcoin to become the world currency.

[Sakanwa]

Bitcoin is already the world highest currency, because the world without a bitcoin is just like world without music, bitcoin brings smiles and love to the world, I remembered last year when I was still in canada, and I was having fun with my brothers that came over for vacation, and we went partying, and the police stop us on the high way on our way going home, if not of bitcoin, I don't know how I would payed off the police bills, because I was having no cash at hand, is there anything you still could tell me that bitcoin is not the world greatest currency when even the police accept bitcoin now

[Abiky]

Bitcoin already is, since a long time ago, a currency that can be used worldwide to pay for goods and services.

This has been true since May 2010 when laszlo paid 10k BTC for 2 large pizzas: https://bitcointalk.org/index.php?topic=137.msg1195#msg1195

You can't pay for goods and services with your local fiat currency directly to another person in another country, it's basically worthless paper until you exchange it for their local fiat currency.

But Bitcoin is accepted worldwide, without the need to exchange it into some local currency. It's a global currency since its creation because it lives on the Internet, which is global by nature.

Bitcoin doesn't need the approval of central banks or governments because it doesn't rely on them at all. That's by design, and that's a great thing.

That's certainly true, mate. By design, Bitcoin is already a global cryptocurrency. That's thanks to its use of the Internet to reach the masses worldwide. But even though Bitcoin can be used by anyone, anywhere in the world, it's still not officially recognized as legal tender by mainstream countries. So technically, Bitcoin is not a world currency even though it can be used anywhere in the world through the Internet.

Don't count on governments abandoning Fiat in favor of Bitcoin anytime soon, especially when they don't want people to experience true financial freedom. Surrendering Fiat, would mean surrendering control over the mainstream economy. And that will never happen. I'm fine with Bitcoin just the way it is, as long as it remains a viable contender against Fiat. Decentralization and censorship-resistance must be preserved for Bitcoin to stand the test of time. Who knows if it will be with us for generations? Just my opinion

[Sokoloau]

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.

Bitcoin will not become the world currency, it will coexist with other currencies. Bitcoin is unstable, its price fluctuates at any time, and its characteristics will not become a unified currency, and each country will use its own currency.

[Jon_Hodl]

Out of the 116 fiat currencies tracked by Fiat Market Cap, Bitcoin already has a larger market cap than most of them.

At today's price, Bitcoin is sitting at 28/116 which puts it in the top 25% of all currencies. https://fiatmarketcap.com/

Bitcoin in might not be "The World Currency" today but it is already larger than most of them (by market cap) and used in more countries than most of them.

Let's see what happens over the next decade.

[Japinat]

bitcoin could be the world's currency, but maybe not.

In my opinion, Bitcoin has great potential to become a world currency, but it's just that many countries still don't legalize Bitcoin and other cryptocurrencies, from this reason it becomes a bit of a serious problem in adjusting Bitcoin to become a world currency, but I see that many countries have accepted Bitcoin, there are also countries that must first exchange it for local money and there are also several countries that do not need to exchange it for local money.

I have the opposite view, bitcoin has no potential to become the world currency because of its decentralization. The government will never let that happen unless they figure out how to control it.
El Salvador recognizes it as legal tender, meaning using it as an official currency since they do not have their own currency, they are using USD and accepting bitcoin as part of their economic recovery plan. For countries with strong local currencies, like the US or China, they have no reason to give up their currency for something they can't control. There is no way for bitcoin to become the world currency.

El Salvador's future since becoming a legal tender is still a mystery, they are still on the experimental stage and its outcome is not yet confirmed. Other countries or places in the United Arab Emirates, Kingdom of Saudi Arabia and Singapore is also looking forward to become one of the legal tender but they just cannot fathom the risks for now and chose to observe El Salvador's outcome first before taking a huge leap.

And for the bitcoin to become the world currency is not yet possible in the next decades to come and I reckon that it's not also created to be like that. Just like what you've said, the governments of each respective countries aren't going to allow that to happen as there's no way that they can control it as it's also not designed to be controlled.

[nullama]

~snip~
El Salvador's future since becoming a legal tender is still a mystery, they are still on the experimental stage and its outcome is not yet confirmed. Other countries or places in the United Arab Emirates, Kingdom of Saudi Arabia and Singapore is also looking forward to become one of the legal tender but they just cannot fathom the risks for now and chose to observe El Salvador's outcome first before taking a huge leap.

And for the bitcoin to become the world currency is not yet possible in the next decades to come and I reckon that it's not also created to be like that. Just like what you've said, the governments of each respective countries aren't going to allow that to happen as there's no way that they can control it as it's also not designed to be controlled.

There's also Central African Republic, they also declared Bitcoin as legal tender.

That has caused some big controversies in the African region where they're pushing CBDCs very hard.

[laurenB7742]

~snip~
El Salvador's future since becoming a legal tender is still a mystery, they are still on the experimental stage and its outcome is not yet confirmed. Other countries or places in the United Arab Emirates, Kingdom of Saudi Arabia and Singapore is also looking forward to become one of the legal tender but they just cannot fathom the risks for now and chose to observe El Salvador's outcome first before taking a huge leap.

And for the bitcoin to become the world currency is not yet possible in the next decades to come and I reckon that it's not also created to be like that. Just like what you've said, the governments of each respective countries aren't going to allow that to happen as there's no way that they can control it as it's also not designed to be controlled.

There's also Central African Republic, they also declared Bitcoin as legal tender.

That has caused some big controversies in the African region where they're pushing CBDCs very hard.

Did you realize that the majority of countries that accept bitcoin as legal tender are usually poor countries with very high default rates? that means they are betting with bitcoins, not they treat bitcoins as real currency. Another thing is that the president of El Salvador is investing in bitcoin, they are one of the sharks in the market, I don't see them focusing on making bitcoin into currency, they are still investing and looking to make a profit from it. It is difficult to think of a way for bitcoin to become a currency.