Bitcoin will not become the world currency.

[Doan Ha]

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.

Whether Bitcoin can become a world currency is a long process, but it is still full of imagination. For many investments, there is no ceiling and a bright future is their investment direction. Although Bitcoin's team is mysterious. But it is undeniable that the market is in a downturn, and many large investment institutions have also suffered huge losses.

[nullama]

~snip~
Almost Bitcoin is spread all over world. It's trend will rise day by day and some country allow Bitcoin for online shopping just like a debit card. But on other hand, cryptocurrency ban in some country and it is restricted to use cryptocurrency.

I think it's a good point that Bitcoin is already being held all around the world, so it's already pretty much ready to become universally accepted.

I mean, companies like Strike already assume this, they want to create a service that exchanges fiat1 with fiat2 by sending the bitcoin equivalent from fiatland1 to fiatland2. Since they can easily buy and sell Bitcoin in both countries, they can provide this service.

I personally don't see the point of saving in fiat instead of Bitcoin though.

[fennic]

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.

Hi bro as we all know that everything has its own pro's and also cons. So Bitcoin is for those who want to avoid tax and can send money without any details and other such things. And if has many more benefits than any other crypto and it's just challenging that government are bit accepting crypto in many countries and they just fear that in future we might see many more changes.

[valeneu]

The emergence of Bitcoin is a good asset to store, not to become a world currency. Bitcoin will not replace national legal tender, it will never be regulated and restricted by the legal government, it is free. People are more willing to use Bitcoin as an investment asset to make a profit.

[Asiska02]

The primary goal of Bitcoin is to serve as an alternative for local fiat currency. It hasn't come to compete with it. So whether or not bitcoin becomes a fiat currency is not its intended goal. It is only here to provide a decentralized money system, not to impose the kinds of regulations that governments impose on local currencies.

[dunfida]

The primary goal of Bitcoin is to serve as an alternative for local fiat currency. It hasn't come to compete with it. So whether or not bitcoin becomes a fiat currency is not its intended goal. It is only here to provide a decentralized money system, not to impose the kinds of regulations that governments impose on local currencies.

People should realize it because even it would be soaring up its value or been known but it wont completely replaced up Fiats existence which it cant really be that possible and this is why people should realize so that

they wont really that get frustrated nor disappointed on what they are really that believing or something that they had in mind.Bitcoin might fly with colors but not coming in to a point that
it would really become the world currency.its better not to make yourself that too optimistic so that you wouldnt really get frustrated on things which cant possibly happen.

Deal with it just some sort of investment and alternative currency which supposedly this was its main reason for its existence.

[Famith]

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.

World currency? I think that the function of Bitcoin is not limited to currency. This idea is too narrow. Because of the emergence of Bitcoin, many derivatives have been derived. These derivatives are slowly changing the new financial order of the world and become It doesn't matter if it doesn't become a world currency.

[Abiky]

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.

Very nice observation. I believe Bitcoin has the biggest market cap because of its ability to be used across borders without restrictions or limitations whatsoever. It lives on the Internet, after all. Even if governments disapprove of Bitcoin, that won't stop it from reaching a wider audience in the future. If there's Internet access, it'll be possible to use BTC as an alternative to existing Fiat currencies.

For a new kind of money that's been with us only 14 years, I'd say this is impressive. Imagine how big Bitcoin will become a decade from now. If people continue to adopt it as their own, it shouldn't be long enough before Fiat loses traction for good. Who knows if we're closer to "hyperbitcoinization" than we've previously thought? Just my thoughts

[Aanuoluwatofunmi]

With just a simple explanation of how bitcoin has been the global most preferred asset and currency in the world https://twitter.com/TheMoonCarl/status/1610248676487712770?t=cxYshfe4iEmBxI9ZuQkO2Q&s=19 try watch the video and get the fact from the suggestions and ideas to ascertain this, bitcoin is the digital currency that is gaining a continuous global adoption and recognition and people ate interested in using it ss their preferred choice of hodling their finances.

[KaliLinux]

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.

You are right. I believe this is where the problem still lies when people believe that it is only when the government accepts that Bitcoin is a currency that we will understand this. Not all local currencies around the world are globally accepted at the other end of the world and do that not make them currency where they are accepted?
Likewise, Bitcoin as we must agree is been accepted around the world by those that have already understood this and will not necessarily need that Government acceptance, or are they still saying it is not a currency in El Salvador?

[Broadanbig]

Well it depends on the dimension you are going to. If you are talking about fiat, them I have no issues with that but when you talk about digital currency, then I will boldly tell that bitcoin has already become the world digital currency because it was the first and tagged digital gold which quantify and qualify it's value. So therefore the fact that bitcoin has already taken its existence and position in the world is enough fact for it to be tagged world digital currency as no other digital currency could surpass it's value usability.

[Wildwest]

Bitcoin does not have to be a currency that every country should use like fiat currencies, but we all hope that every country can relieve bitcoin so that we are all safe to use bitcoin, to make the currency I think bitcoin is very difficult to control by the government hence the big consideration nowadays is always part of the positive and negative news, We as Bitcoin users only hope that the value of bitcoin continues to increase because bitcoin will be our great asset for the future, currently there are some people who want to drop bitcoin to its roots but it will be difficult to do.

[My ThuiHa]

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.

[WatChe]

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.

The Governments all around the world are the one who are biggest opponents of bitcoin becasue of its decentralized nature and no central authority. Moreover, governments are very much happy with fiat system that is implemented for centruies and the biggest reason is that they have 100% control on that system.
I do agree that Bitcoin is not created to be like that and for its decade long journey it has done quite good without government support.

[Gallar]

bitcoins will still be bitcoins, as long as anything bitcoins will still be bitcoins.
let alone change into international money or world currency, it is very unlikely.
Bitcoin doesn't need to be the world's money, it's perfect as an asset or means of payment digitally.
Bitcoin is actually now worldwide, the proof is that almost all internet users around the world already know bitcoin.

[Fara Chan]

The emergence of Bitcoin is a good asset to store, not to become a world currency.

Bitcoin is used as a digital gold investment, as an asset both stored and invested, the purpose and role of Bitcoin is not to replace/become a world currency, it needs to be underlined here that Bitcoin is a digital currency that runs in a decentralized manner, and this Bitcoin cannot be regulated. no one can control the price of Bitcoin, the extent of the spread of Bitcoin no one can measure it.

But what I think about the nature of Bitcoin is that it has advantages that are not found in other currencies, we think there is nothing wrong with Bitcoin being a world currency. But this is just my view of Bitcoin, but we have to return to the concept and purpose of Bitcoin. Let me say a little bit about the motivation that I really admire from Bitcoin because it has become one of the Universal Commodities whose price will continue to soar.

[EarnOnVictor]

~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.

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.

[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.

[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.