Bitcoin will not become the world currency.

[Smartprofit]

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

In my opinion, it is the fact that Bitcoin is a decentralized asset and a globally recognized asset that will prompt the Basel Committee to decide to include it in gold - the central banks' foreign exchange reserves. 

Initially, Satoshi Nakamoto designed Bitcoin as money to be used in an environment where individuals do not trust each other.  In a situation of collapse of the world global financial system, there will be no trust not only between individuals, but also between individual countries. 

Bitcoin in this situation is an ideal reserve asset.  Its blockchain is transparent to track individual transactions and is protected from political censorship due to its decentralized nature.

[1714491927]

1714491927

[1714491927]

1714491927

[1714491927]

1714491927

[1714491927]

1714491927

[1714491927]

1714491927

[Agbe]

Everyone has their one opinion on bitcoin, if you say BTC will not be the world currency in the world then no will argue with you because that is how you see or your point of view. Bitcoin did not come to remove Fiat currency but bitcoin is here to strengthen the Fiat currencies in the world if only they understand the coin adopt it.

[wahyuagung26]

Everyone has their one opinion on bitcoin, if you say BTC will not be the world currency in the world then no will argue with you because that is how you see or your point of view.

Yes, that's right, here everyone's opinions and views about Bitcoin are of course different, therefore someone has the right to discuss what he thinks, one of which is the discussion of Bitcoin being a world currency/this topic, and I think it's here who will read it and understand Op's statement will definitely discuss and not argue, and maybe they discuss with each other's opinions.

Bitcoin did not come to remove Fiat currency but bitcoin is here to strengthen the Fiat currencies in the world if only they understand the coin adopt it.

Going back to the original purpose of Bitcoin, it came only to form a digital currency and it is decentralized, meaning that Bitcoin will not overthrow FIAT money and I think Bitcoin will continue to coexist with FIAT currency and strengthen FIAT money, moreover the Bitcoin payment system is peer-to-peer to-peer is decentralized and makes it easier for users to carry out fund operations/transfer funds quickly without intermediaries, in contrast to the work systems of centralized banks and financial institutions.

[Henrobakkara]

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 don't think this has to be, that is, for Bitcoin to be taken as a worldwide independent currency. I might not know but I could guess that the global Government might not come to this point ever where all accept Bitcoin as a legal tender except this is not what is been assumed here. As far as I am concerned, Bitcoin is already a global currency because those that have seen it as such have been accepting it for different things even some fiat currencies of some countries are not accepted in other parts of the globe today.

[Lida93]

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

It was never part of the vision of Satoshi for bitcoin to be designated as a fiat currency cause if it were so then there wouldn't have been any need for the decentralization of bitcoin. Fiat currency is full of shit regulations that are only in the interest of the central authority and should bitcoin be made as a fiat currency then PoW is worthless and needless.

[GigaBit]

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 is not intended to be a fiat currency. It has diversified the payment system and created a huge investment opportunity. But there are lot of people exaggerate about bitcoin as the place of fiat currency, in reality it will never take the place of fiat currency. In my perspective World Currency means that the currency which will be the same for all over the world as like as the dollar is considered. Event though it will not take the place of the dollar, this bitcoin will be acceptable as a medium of exchange all over the world.

However, many of us today not only think of Bitcoin as a digital currency, but they think of it as a big asset of their life. People who dream about Bitcoin think as a digital gold.

[jokers10]

...
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?

It depends on what are we talking about: if about replacing all existing currencies and becoming the only one currency in the world then it has no sense. Bitcoin's idea is to be an alternative, free, decentralized and anonymous. It is impossible to imagine it will be any how mandatory.

When we talk about world currency I mean first being widely accepted for payment, so widely that mostly in every small shop around you would have such an option; and second to be considered as an anchor currency not less popular than some like euro or USD.

I don't think this has to be, that is, for Bitcoin to be taken as a worldwide independent currency. I might not know but I could guess that the global Government might not come to this point ever where all accept Bitcoin as a legal tender except this is not what is been assumed here. As far as I am concerned, Bitcoin is already a global currency because those that have seen it as such have been accepting it for different things even some fiat currencies of some countries are not accepted in other parts of the globe today.

Bitcoin's nature gives an opportunity to use it as you want whenever you want. But there are not many places where payments in bitcoin are accepted at the moment. Right, it will hardly be totally accepted everywhere in the nearest future, but it can be accepted in majority of countries.

[rby]

I don't expect bitcoin to be the world currency because the governments of the world cannot unanimously agree to adopt bitcoin. Government only cherish what they created and will be able to control.

Even if bitcoin cannot become the world currency, it will become currency of the technology and automation. Automation would need transaction that won't require humans interference.

[suzanne5223]

I don't expect bitcoin to be the world currency because the governments of the world cannot unanimously agree to adopt bitcoin. Government only cherish what they created and will be able to control.

Even if bitcoin cannot become the world currency, it will become currency of the technology and automation. Automation would need transaction that won't require humans interference.

Let's leave aside the government cherishing only what was introduced by them.
Bitcoin is decentralized and the government will never support decentralized crypto because t against their way of governing practice.
Consensus mechanism is a system used by Bitcoin to validate transaction authenticity and maintain the security of the basic blockchain. Meanwhile, it is also censorship resistance there is no way 60% of the government in the world will support such crypto that will literally cripple them.

[Aliosky]

Actually, it is the whole point. The idea was to avoid giving any authority any control over our finances. Nobody wants a third party keeping track of their weekly earnings and holdings.

[jokers10]

I don't expect bitcoin to be the world currency because the governments of the world cannot unanimously agree to adopt bitcoin. Government only cherish what they created and will be able to control.
...

Did government created Internet? How strict can it control it? And anyway it had to adjust to it. Because when some circumstances force them to act they do so. And when we see that the most reactionary government already ban bitcoin it means they consider it big enough to be forced to decide what to do with it. They don't want but there's no other choice. Bitcoin becomes global not thanks but in spite of governments.

[jokers10]

it is unlikely that Bitcoin will become the world currency. While Bitcoin has been successful as a decentralized digital asset and store of value, it has several challenges that would need to be overcome in order for it to become a widely adopted currency.

For example, Bitcoin transaction processing times are slower and more expensive than those of traditional payment methods, and its price can be highly volatile, making it a less practical option for everyday transactions. Additionally, many countries have not yet established clear regulations around the use of cryptocurrencies, which could limit their widespread adoption as a currency.
...

Do you suppose that it will last until heat death of the universe? If we talk about that bitcoin will become a global currency we mean it become so someday, not this month. So right, there are some known problems which prevent from using bitcoin as a world currency right now, but all these problems can be solved in a near future. Technology is evolving faster than most of us can imagine.

[Abiky]

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.

That can be said about democratic countries such as the US or Taiwan. People elect government officials to do the job they're supposed to. But that doesn't apply in authoritarian countries such as China and Russia. Many of the world's governments have abused their power to get what they want, so I wouldn't be surprised if they "go the extra mile" just to keep people from using Bitcoin as an alternative to Fiat. The pioneer cryptocurrency (BTC) may not be the world currency, but it can still be used by anyone with an Internet connection. It's a new kind of money system that has no borders and no central authority behind it.

Who needs the government when Bitcoin can do fine on its own? The more people adopt BTC, the better. As long as it stays decentralized and censorship-resistant, nothing else matters. Just my opinion

[ilovealtcoins]

it is unlikely that Bitcoin will become the world currency. While Bitcoin has been successful as a decentralized digital asset and store of value, it has several challenges that would need to be overcome in order for it to become a widely adopted currency.

For example, Bitcoin transaction processing times are slower and more expensive than those of traditional payment methods, and its price can be highly volatile, making it a less practical option for everyday transactions. Additionally, many countries have not yet established clear regulations around the use of cryptocurrencies, which could limit their widespread adoption as a currency.
...

Do you suppose that it will last until heat death of the universe? If we talk about that bitcoin will become a global currency we mean it become so someday, not this month. So right, there are some known problems which prevent from using bitcoin as a world currency right now, but all these problems can be solved in a near future. Technology is evolving faster than most of us can imagine.

But what about the reason bitcoin is decentralized? Governments will be willing to give up their interests to accept bitcoin as the world currency because when they accept, it means they will lose all power and collapse. Other reasons will probably be overcome as technology evolves, but bitcoin's decentralization will never go away, and that's what governments hate the most.

[jokers10]

But what about the reason bitcoin is decentralized? Governments will be willing to give up their interests to accept bitcoin as the world currency because when they accept, it means they will lose all power and collapse. Other reasons will probably be overcome as technology evolves, but bitcoin's decentralization will never go away, and that's what governments hate the most.

Gold and silver and copper were money for thousands of years before fiat money. Governments had only soft control of right of coinage, but they had no option of making more metal from nothing. So they can deal with a currency system over which they have very small control. Of course they don't like it but it will not destroy them, it will just make them work some other way.

Everything is changing, some changes are for good (and I believe bitcoin is that way), some are for bad. But there is no way of making a static picture from the world. Except heat death of the universe.

[ektotanes]

Bitcoin is not created to become a fiat currency lol

[Altryist]

I don't expect bitcoin to be the world currency because the governments of the world cannot unanimously agree to adopt bitcoin. Government only cherish what they created and will be able to control.

Even if bitcoin cannot become the world currency, it will become currency of the technology and automation. Automation would need transaction that won't require humans interference.

Of course governments will protect the system they have built over time, but nothing lasts forever. They will try to introduce CBDC and even try to convince people that it is better than bitcoin, because it has guarantees from the state and many people will believe in it. But those who are able to think and analyze will understand the difference. The properties of bitcoin are unique, but not very good for governments.

[nullama]

Bitcoin is not created to become a fiat currency lol

It doesn't have to be fiat.

The main thing would be to not pay capital gains taxes when you use your money(Bitcoin).

That's what would happen if most countries declare Bitcoin as legal tender.

[Marvell1]

I don't expect bitcoin to be the world currency because the governments of the world cannot unanimously agree to adopt bitcoin. Government only cherish what they created and will be able to control.

Even if bitcoin cannot become the world currency, it will become currency of the technology and automation. Automation would need transaction that won't require humans interference.

Of course governments will protect the system they have built over time, but nothing lasts forever. They will try to introduce CBDC and even try to convince people that it is better than bitcoin, because it has guarantees from the state and many people will believe in it. But those who are able to think and analyze will understand the difference. The properties of bitcoin are unique, but not very good for governments.

CBDC is a Fiat currency, it was created by the government, it was just a digital version of Fiat and I didn't think they created CBDC to compete with Bitcoin. The world is changing and digitizing everything, so the launch of a digital currency is what will happen in the future if it doesn't happen now.

Even without the appearance of CBDC, Bitcoin will not have the opportunity to become a world currency. The government will never accept something not created by them and they cannot control it.

[Noruka]

I don't expect bitcoin to be the world currency because the governments of the world cannot unanimously agree to adopt bitcoin. Government only cherish what they created and will be able to control.

Even if bitcoin cannot become the world currency, it will become currency of the technology and automation. Automation would need transaction that won't require humans interference.

Of course governments will protect the system they have built over time, but nothing lasts forever. They will try to introduce CBDC and even try to convince people that it is better than bitcoin, because it has guarantees from the state and many people will believe in it. But those who are able to think and analyze will understand the difference. The properties of bitcoin are unique, but not very good for governments.

I doubt that there will be much effort to convince people of CBDCs being better. If they shove that digital system down your throat you are most likely left without choice and must use it for most of your daily needs. There are many regulatory ways to eventually force you to use a CBDC.

The bottom line is that it will come down to mass surveillance and imposed financial and fiscal policies that leave you no choice but to follow them. If there is only digital money in centralized controlled wallets by the governments, what is somebody going to do to avoid low or even negative interest rates? They can impose upon their citizens whatever they want and worse than that, they can collect a plethora of data about everyone and god knows what they are going to do with it. Just watch China...