Bitcoin will not become the world currency.

[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.

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[jokers10]

Bitcoin should not be the world currency anyway. But we must ensure that its use is as widespread as fiat currency.
...

If it is widespread worldwide and used everywhere how can not it be a world currency? If we talk about some "official" world currency then there's none at all: some decided to use USD or EUR and issuers of those currencies were not against it. And that's all. Bitcoin is also not against and due to its decentralized nature can not be against. So anyone can use it as a world currency if wants. It will be as of an actual state of affairs, without special regulatory acts signed by everyone.

[nullama]

~snip~
If it is widespread worldwide and used everywhere how can not it be a world currency? If we talk about some "official" world currency then there's none at all: some decided to use USD or EUR and issuers of those currencies were not against it. And that's all. Bitcoin is also not against and due to its decentralized nature can not be against. So anyone can use it as a world currency if wants. It will be as of an actual state of affairs, without special regulatory acts signed by everyone.

There are some legal and financial aspects to something being labelled a currency.

For example, in El Salvador since Bitcoin is legal tender, then every time you pay with Bitcoin you don't have to consider any capital gains or losses you made.

In the US and other countries since Bitcoin is not legal tender, and instead it is treated as an asset, every time you buy something with Bitcoin you need to consider capital gains or losses you made.

It doesn't matter if Bitcoin is used or not all around the world, these laws are local and apply to every specific country. In a similar way to how owning real estate is different in different countries for example, there are different rules that apply in each country.

[mvdheuvel1983]

Bitcoin has brought about the disruption of the actual financial system which concentrates the power in hands of a few institutions and corporations.
I see this as the greatest revolution in the world and of course will have to fight many battles against the current system before becoming the new financial system free from manipulation of unfair interests, but do I think that bitcoin will become the world currency? Nope. Not at all.

[jokers10]

There are some legal and financial aspects to something being labelled a currency.

For example, in El Salvador since Bitcoin is legal tender, then every time you pay with Bitcoin you don't have to consider any capital gains or losses you made.

In the US and other countries since Bitcoin is not legal tender, and instead it is treated as an asset, every time you buy something with Bitcoin you need to consider capital gains or losses you made.

It doesn't matter if Bitcoin is used or not all around the world, these laws are local and apply to every specific country. In a similar way to how owning real estate is different in different countries for example, there are different rules that apply in each country.

Right you are, you should always keep in mind which laws are actual in a place you stay at the moment, but it is important not for bitcoin only. And even if you need to mention your bitcoins on a tax return you can still use them, just keeping in mind how then you should draw it up.

Maybe formally it will not be a "currency" but in fact sometimes we can use it so without formal correspondence.

[Japinat]

Bitcoin has brought about the disruption of the actual financial system which concentrates the power in hands of a few institutions and corporations.
I see this as the greatest revolution in the world and of course will have to fight many battles against the current system before becoming the new financial system free from manipulation of unfair interests, but do I think that bitcoin will become the world currency? Nope. Not at all.

It will not because government would not allow that to happen. The reason there's a govern is to govern us people, and since they are implementing a centralized system to make their job easy, I don't think a decentralized currency will ever replace what we are used too already.

They will not allow that to happen, before bitcoin was less regulated but not it's already very much regulated, reason we cannot anymore enjoy the "Anonymity" that we are enjoying in the early stage.

[AnonBitCoiner]

There is so much limitations in Bitcoin if we accept it as a payment. First of all Bitcoin transaction is not possible without internet. Now suppose if I internet connection down in any area then it will lead failure entire payment system. More than 80% of the World don't know how to use and they had not made any single transaction yet. Supply and price is not in control of any Government which is compulsory to become a world currency.
There is no need for Btc to be accepted as a world currency.
Satoshi nakamota did not mention anywhere that he want BTC to be a world currency. I think no one will be thinking about it. BTC has own idea and own utility which make it best asset from any other asset in the world. In less than fifteen years it's break so many records and now congress is talking about BTC in white house.

[KennyR]

It's a great topic of discussion. I am convinced that it is not. Bitcoin has every chance of becoming a world currency

Bitcoin have every feature required to be a World Currency, but every country won't take the similar stand. For now few countries have shown green flag and one have made it legal tender within the country. These are part of development. Bitcoin will serve as the alternate to fiat, because it is really tough task to eliminate the entire usage of fiat and implement crypto.

[nullama]

It's a great topic of discussion. I am convinced that it is not. Bitcoin has every chance of becoming a world currency

Bitcoin have every feature required to be a World Currency, but every country won't take the similar stand. For now few countries have shown green flag and one have made it legal tender within the country. These are part of development. Bitcoin will serve as the alternate to fiat, because it is really tough task to eliminate the entire usage of fiat and implement crypto.

It's simply a matter of people to start accepting Bitcoin for goods and services, and then people starting to use Bitcoin to pay for those goods and services.

Simple as that.

If people keep simply buying and selling fiat for Bitcoin, then the demand for fiat will be the same, and the demand for Bitcoin won't increase.

[Woodie]

Bitcoin will not become the world currency.

If you think about it, bitcoin has already achieved this status by being used and recognized world over as a world currency with a few hurdles of making it legal tender.

By the way, what i think bitcoin will not do is replace fiat as it misses few key components like chargebacks and the alike,and also negative news that keeps piling up like exchanges hacks doesn't give confidence into the crypto systems for it to be adopted . Whatever the case, crypto will run as a complimentary product to fiat and not a substitute.

[DanWalker]

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.

Do you know why El Salvador accepts bitcoin? When they accept bitcoin, they don't have their own currency, they are having economic difficulties and the possibility of default. No one wants to help them, it can be said that they are very stuck, and bitcoin is seen as the last buoy they can use. But luck was with them when bitcoin helped them improve their economy without depending on the help of other countries.

But in great powers, they have a strong economy, their currency has value. There is no reason they accept bitcoin to break their main currency. Bitcoin becoming the world currency is really unlikely, I also believe it can't happen.

[nullama]

~snip~
Do you know why El Salvador accepts bitcoin? When they accept bitcoin, they don't have their own currency, they are having economic difficulties and the possibility of default. No one wants to help them, it can be said that they are very stuck, and bitcoin is seen as the last buoy they can use. But luck was with them when bitcoin helped them improve their economy without depending on the help of other countries.

But in great powers, they have a strong economy, their currency has value. There is no reason they accept bitcoin to break their main currency. Bitcoin becoming the world currency is really unlikely, I also believe it can't happen.

El Salvador has been using USD as their currency since 2001. They use Bitcoin alongside USD since September 2021.

They just paid their $800M debt in full, with interest. There's no risk of default. It's all just FUD against El Salvador because they started using Bitcoin as legal tender.

[jokers10]

Bitcoin have every feature required to be a World Currency, but every country won't take the similar stand. For now few countries have shown green flag and one have made it legal tender within the country. These are part of development. Bitcoin will serve as the alternate to fiat, because it is really tough task to eliminate the entire usage of fiat and implement crypto.

It is tough at the moment, but with the growth of adoption technical part of bitcoin core will develop as well. Main problems are known and there are many different decisions of their salvation: now we look if some of these decisions can be useful while they are being tested on altcoins. I'm sure some ideas will be found when needed, we just need to wait a bit.

[Abiky]

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.

Bitcoin could be on banks' balance sheets just like Gold, but it will never become a "global" currency because of its decentralized and censorship-resistant nature. Governments simply won't allow this to happen. Of course, people can still use Bitcoin worldwide through the Internet. But it won't be recognized officially by mainstream governments as the world currency because of the reasons mentioned before. Fiat currencies are on the brink of collapse, so it should only be a matter of time before adoption for BTC goes all the way to the moon.

As long as the community keeps Bitcoin decentralized, we should have nothing to worry about. Who knows if BTC lives for generations? Just my thoughts

[White pawn]

It's a great topic of discussion. I am convinced that it is not. Bitcoin has every chance of becoming a world currency

Bitcoin have every feature required to be a World Currency, but every country won't take the similar stand. For now few countries have shown green flag and one have made it legal tender within the country. These are part of development. Bitcoin will serve as the alternate to fiat, because it is really tough task to eliminate the entire usage of fiat and implement crypto.

Yeah, bitcoin does have the features to be a worldwide used currency but sadly, it doesn’t look likely as the government of most countries are not really bitcoin friendly. Some are going further to actually curb its use.
I think fiat would always be with us or would stay with us for decades to come. There isn’t any major threat to the dominance of the fiat system as I don’t actually see bitcoin being an immediate threat to the dominance of the fiat system.
Bitcoin is a good if not the best alternative to the widely used fiat currency

[jokers10]

Yeah, bitcoin does have the features to be a worldwide used currency but sadly, it doesn’t look likely as the government of most countries are not really bitcoin friendly.
...

15 years ago there was no bitcoin at all, 10 years ago it was interesting mostly to some geeks. And now some countries already adopted it. Don't be too hurry, the events are going with their own speed: one day bitcoin can become a worldwide independent currency, but to do so it has to work on different things including known problems like price and time of transaction or scalability. One day we'll see both that these problems are solved and bitcoin is accepted mostly everywhere.

[Fivestar4everMVP]

In a sane society, who are the government?, it is the people, the people of the society make up the government, the people are the ones who choose those we supposedly call the government, so ordinarily, the supposed government aren't supposed to be more powerful than the people that put them there, but the problem now is that we live in a world controlled by money, because this set of people we ourselves choose to serve u now are in control of our money, we automatically lose our authority over them, this is why they now have the power to choose for us what should we call money and what we should not..

Aside the above, money is what a group of people have chosen and attached a value to, not particularly the government, from the price of bitcoin today, it is evident that the people have chosen and attached good value to bitcoin, if we lived in a sane society, the debate whether bitcoin should be accepted as a money or not shouldn't even come up because from all indications, it is money already.

[bettercrypto]

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.

   First, you are right that the government can never control bitcoin because of its volatility and the blockchain technology it has, second, bitcoin is a currency like a fiat it's just not physically tangible, and that's why it's called a peer-to-peer.

Just think if it wasn't money, I hope it wasn't converted to fiat currency either, you get what I mean. If you look at it from another angle, it's like a credit card that can be used as an electronic payment, Bitcoin is the same, the only difference is that you can exchange it for different fiat currencies globally.

[yohananaomi]

Yeah, bitcoin does have the features to be a worldwide used currency but sadly, it doesn’t look likely as the government of most countries are not really bitcoin friendly.
...

15 years ago there was no bitcoin at all, 10 years ago it was interesting mostly to some geeks. And now some countries already adopted it. Don't be too hurry, the events are going with their own speed: one day bitcoin can become a worldwide independent currency, but to do so it has to work on different things including known problems like price and time of transaction or scalability. One day we'll see both that these problems are solved and bitcoin is accepted mostly everywhere.

the first, of course, we have to admit, that bitcoin has changed the current situation and that is real, but will it be able to become a world currency? of course there are many obstacles that must be resolved first so that they can indeed become a determinant later.
the obvious obstacle is recognition from the state, not all recognize and can accept bitcoin and this takes time and cannot be easily resolved quickly.
It must also be remembered that banking is still very much needed because it accommodates manual transactions, and traditional transactions are still very much felt and indeed cannot be avoided and will bitcoin be able to do that later?

[White pawn]

Yeah, bitcoin does have the features to be a worldwide used currency but sadly, it doesn’t look likely as the government of most countries are not really bitcoin friendly.
...

15 years ago there was no bitcoin at all, 10 years ago it was interesting mostly to some geeks. And now some countries already adopted it. Don't be too hurry, the events are going with their own speed: one day bitcoin can become a worldwide independent currency, but to do so it has to work on different things including known problems like price and time of transaction or scalability. One day we'll see both that these problems are solved and bitcoin is accepted mostly everywhere.

I guess you’re right. We shouldn’t be in much of a hurry to get bitcoin worldwide recognition and adoption cause bitcoin is well on its way to doing just that despite the loads of criticism and negativity from financial institutions and governments. Bitcoin has surely grown in popularity and usage and is very certain to become greater than it already is.
After all, good things they say, takes time.