Bitcoin will not become the world currency.

[Iroh]

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.

What you mean by bitcoin is here to strengthen the fiat currencies in the world if only they understand the coin and adopt it? In my opinion and opinion varies, Bitcoin is not here to become a world currency neither is it here to strengthen fiat currencies. Why would it want to strengthen fiat currency?

Bitcoin has come to be a great alternative to the fiat currencies and the present financial system and not to strengthen it.
Think about it, if it was here to strengthen and support the present traditional financial fiat system of payment, then governments of the world would love bitcoin and support it.

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[Mauser]

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 disagree with you, some minor nations have already accepted Bitcoins as their legal tender and it's only a matter of time for other countries to follow. The current system we have in place is flawed and needs to change over time. In most western countries politicians have full control over money supply and can print money when they need it. The intention was that countries can withstand a crisis better by printing more money, but the problem is politicians use it too often when they are not keeping their budget in check. In my opinion it's only a matter of time for people to demand change and a better control over the value of their money. Bitcoin would be the perfect tool for a country to keep the value of their currency and not allow politicians too freely print new money. And it's up to all of us the consumers to make Bitcoin a real currency by spending it regularly.

[Abiky]

What you mean by bitcoin is here to strengthen the fiat currencies in the world if only they understand the coin and adopt it? In my opinion and opinion varies, Bitcoin is not here to become a world currency neither is it here to strengthen fiat currencies. Why would it want to strengthen fiat currency?

Bitcoin has come to be a great alternative to the fiat currencies and the present financial system and not to strengthen it.
Think about it, if it was here to strengthen and support the present traditional financial fiat system of payment, then governments of the world would love bitcoin and support it.

Bitcoin was designed to rival Fiat currencies, so don't think for a second it will "support the present financial system" anytime soon. While most governments have approved of Bitcoin, deep down, they hate it. Banks have been pushing against Bitcoin, claiming it's a fad or "illegal" money used for criminal activities. None of these entities want Bitcoin to succeed, otherwise it would signal the end of Fiat.

It's all about power/control, so I'd expect Fiat currencies to become stronger in the long run. Who knows what the future holds for Bitcoin as an alternative monetary system? Just my opinion

[peter0425]

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.

maybe it is 50/50 , in the future it may half of government will adopt bitcoin but the other half will remain distance , Yes there are some countries now that starts the adoption but its slow moving?
some of your point is legit but this does not concern me at all because as long as it will function and let people use it without banning? i care nothing to be adopted or not.

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.

exactly . we have all our own views and opinion and that will be the best deal for bitcoin and all the cryptocurrency.

[ChiBitCTy]

In my opinion we are still very early on in the game of deciding what bitcoin is all about and what it's best being used for.  I don't know that I ever think it's going to replace governments fiat currencies entirely, but I do think that it can successfully work in conjunction with them in some fashion, more so than it already is right now.  But money evolves as time goes on, and in my opinion a digital cash system is immanent.

[nullama]

In my opinion we are still very early on in the game of deciding what bitcoin is all about and what it's best being used for.  I don't know that I ever think it's going to replace governments fiat currencies entirely, but I do think that it can successfully work in conjunction with them in some fashion, more so than it already is right now.  But money evolves as time goes on, and in my opinion a digital cash system is immanent.

I think that Bitcoin, through lightning, is the perfect solution for micro payments in the web.

Want to continue reading this article?, pay a few sats. Want to download this ebook?, send some sats. And so on.

Now we're slowly getting more and more lightning wallets and better interactions through QR codes, and things are moving very fast.

[Z390]

Bitcoin becoming world currency means it's no more decentralized and it's never going to happen, Nakamoto never created Bitcoin to be the world next big Fiat currency, it was built to give freedom to the adopters against centralized entities, Fiat is the government currency and Bitcoin is the people's currency, thats why it's fully decentralised and the government will never like anything decentralised anyways and it's cool.

[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.

Don't you know that bitcoin has been pelted with negativity for over a decade, what the hell, you're funny. If many people say negative things about it, this is also the reason why Bitcoin has become so popular, in which various investors in different countries around the world have invested and had of interest here.

   And many governments have tried to control bitcoin but they couldn't because of the blockchain technology that bitcoin has. So only the other regulated altcoins can be controlled by the government.

[thecodebear]

We are still a long way away from Bitcoin being accepted widely as a means of payment. Bitcoin absolutely is a currency, but it is a currency of choice, not forced like fiat currencies are.

Will it replace fiat? No that is unlikely, simply because governments enforce fiat, so it isn't the people's choice. Over time more and more people will choose Bitcoin as it becomes normalized and there is much less sensationalized misinformation about it.

But then it will be the world's alternate currency. Most people will continue to take their paychecks in fiat, but many of them will save in Bitcoin and occasionally spend their Bitcoin savings on things. While some people will adopt mostly a Bitcoin standard and only rarely use fiat or just have some fiat in the bank for special purposes.

Will it become the world currency, yes. Though it'll probably take 20 years for that to happen. But being the world currency doesn't mean fiat won't exist. Nations will continue to have their own currencies that are used on a daily basis, and Bitcoin will exist alongside all over them all over the world. But none of that can happen until the idea of Bitcoin stops being sensationalized. The fact that it has been so successful in its price appreciation has not just caused a lot of people to love Bitcoin, but it is the primary reason why so many misinformed people hate Bitcoin - due to jealousy, the feeling of missing out, the idea that nothing legal or safe or real can appreciate so much. Once people stop sensationalizing Bitcoin and everyone can just accept it for what it is - a decentralized sovereign digital currency with perfect hard money qualities - it can start to be accepted as a means of payment.

[nullama]

We are still a long way away from Bitcoin being accepted widely as a means of payment. Bitcoin absolutely is a currency, but it is a currency of choice, not forced like fiat currencies are.

Will it replace fiat? No that is unlikely, simply because governments enforce fiat, so it isn't the people's choice. Over time more and more people will choose Bitcoin as it becomes normalized and there is much less sensationalized misinformation about it.

But then it will be the world's alternate currency. Most people will continue to take their paychecks in fiat, but many of them will save in Bitcoin and occasionally spend their Bitcoin savings on things. While some people will adopt mostly a Bitcoin standard and only rarely use fiat or just have some fiat in the bank for special purposes.

Will it become the world currency, yes. Though it'll probably take 20 years for that to happen. But being the world currency doesn't mean fiat won't exist. Nations will continue to have their own currencies that are used on a daily basis, and Bitcoin will exist alongside all over them all over the world. But none of that can happen until the idea of Bitcoin stops being sensationalized. The fact that it has been so successful in its price appreciation has not just caused a lot of people to love Bitcoin, but it is the primary reason why so many misinformed people hate Bitcoin - due to jealousy, the feeling of missing out, the idea that nothing legal or safe or real can appreciate so much. Once people stop sensationalizing Bitcoin and everyone can just accept it for what it is - a decentralized sovereign digital currency with perfect hard money qualities - it can start to be accepted as a means of payment.

Yeah, I see a future of people using Bitcoin while others use fiat. In a similar way to how now many people use credit/debit cards alongside people using cash.

Just like cash was dominant and credit cards started to be adopted slowly, I can see now that cards along with cash are dominant, but Bitcoin payments are slowly getting there.

I mean, this is already implemented in most shops in El Salvador. I've seen videos of Bitcoin payment processors implemented in the same screen where you select your items at McDonalds. There was a credit card reader outside of the screen that took cards, and felt so out of place, whereas the Bitcoin QR Code seemed much more natural.

Also, with lightning you can have micro payments in the web, finally, for real.

[Noruka]

What you mean by bitcoin is here to strengthen the fiat currencies in the world if only they understand the coin and adopt it? In my opinion and opinion varies, Bitcoin is not here to become a world currency neither is it here to strengthen fiat currencies. Why would it want to strengthen fiat currency?

Bitcoin has come to be a great alternative to the fiat currencies and the present financial system and not to strengthen it.
Think about it, if it was here to strengthen and support the present traditional financial fiat system of payment, then governments of the world would love bitcoin and support it.

Bitcoin was designed to rival Fiat currencies, so don't think for a second it will "support the present financial system" anytime soon. While most governments have approved of Bitcoin, deep down, they hate it. Banks have been pushing against Bitcoin, claiming it's a fad or "illegal" money used for criminal activities. None of these entities want Bitcoin to succeed, otherwise it would signal the end of Fiat.

It's all about power/control, so I'd expect Fiat currencies to become stronger in the long run. Who knows what the future holds for Bitcoin as an alternative monetary system? Just my opinion

It depends on the perspective you are taking here. If you mean by stronger that Fiat gets more support and is even more exploitable by already established institutional frameworks, i.e. banks and politics, then yes, as soon as it goes digital it will be much stronger in the sense that governments can pull off even more shenanigans against their citizens.

But I think that time might also play into the hands of Bitcoin advocates. Right now we are arguing a lot with older generations, people who fear the status quo under which they grew up is now threatened. Psychologically that is almost perfectly normal behavior. Now with time passing by it is likely that more and more Bitcoin advocates also get into political positions of power. What is the chance that a president of the US in 20 years from now is a Bitcoin fan compared to Joe Biden being a Bitcoin fan? That's really an important factor in my opinion. The generation that is now speaking against Bitcoin is mostly people at age 50+ in powerful positions. If by tomorrow people between 25 and 40 had a majority vote, everything might be looking quite differently for Bitcoin in the positive sense already.

Time will tell!

[Abiky]

We are still a long way away from Bitcoin being accepted widely as a means of payment. Bitcoin absolutely is a currency, but it is a currency of choice, not forced like fiat currencies are.

Will it replace fiat? No that is unlikely, simply because governments enforce fiat, so it isn't the people's choice. Over time more and more people will choose Bitcoin as it becomes normalized and there is much less sensationalized misinformation about it.

But then it will be the world's alternate currency. Most people will continue to take their paychecks in fiat, but many of them will save in Bitcoin and occasionally spend their Bitcoin savings on things. While some people will adopt mostly a Bitcoin standard and only rarely use fiat or just have some fiat in the bank for special purposes.

Will it become the world currency, yes. Though it'll probably take 20 years for that to happen. But being the world currency doesn't mean fiat won't exist. Nations will continue to have their own currencies that are used on a daily basis, and Bitcoin will exist alongside all over them all over the world. But none of that can happen until the idea of Bitcoin stops being sensationalized. The fact that it has been so successful in its price appreciation has not just caused a lot of people to love Bitcoin, but it is the primary reason why so many misinformed people hate Bitcoin - due to jealousy, the feeling of missing out, the idea that nothing legal or safe or real can appreciate so much. Once people stop sensationalizing Bitcoin and everyone can just accept it for what it is - a decentralized sovereign digital currency with perfect hard money qualities - it can start to be accepted as a means of payment.

It would be a "miracle" if Bitcoin becomes the standard unit of account worldwide. Just like Gold did back in the early days. But I don't think this will happen simply because governments won't allow it. They don't like digital money that's outside of their control. Countries that already passed friendly legislation towards Bitcoin, are only doing it because of the tax benefits it provides. Not because they're beginning to take Bitcoin seriously as a currency.

The pioneer cryptocurrency doesn't need the governments' approval to reach the masses. Anyone with an Internet connection can freely access it, making it "unofficially" a "world currency". If adoption keeps growing, Bitcoin will become a stronger competitor against traditional Fiat currencies. Who knows if BTC lasts for generations? Just my opinion

[Inwestour]

It depends on the perspective you are taking here. If you mean by stronger that Fiat gets more support and is even more exploitable by already established institutional frameworks, i.e. banks and politics, then yes, as soon as it goes digital it will be much stronger in the sense that governments can pull off even more shenanigans against their citizens.

But I think that time might also play into the hands of Bitcoin advocates. Right now we are arguing a lot with older generations, people who fear the status quo under which they grew up is now threatened. Psychologically that is almost perfectly normal behavior. Now with time passing by it is likely that more and more Bitcoin advocates also get into political positions of power. What is the chance that a president of the US in 20 years from now is a Bitcoin fan compared to Joe Biden being a Bitcoin fan? That's really an important factor in my opinion. The generation that is now speaking against Bitcoin is mostly people at age 50+ in powerful positions. If by tomorrow people between 25 and 40 had a majority vote, everything might be looking quite differently for Bitcoin in the positive sense already.

Time will tell!

This will have an impact on the world of the future, now we cannot deny that the governments of different countries are paying attention to bitcoin. But they are still afraid of him and the reasons for this are different, some simply do not understand him, and some are afraid of him, because he does not fit into their management model.

They created the banking sector and they find this model very convenient, of course it is good for governments, because it allows them to control everything and allows them to print as much money as they need. With bitcoin, this will not work, and therefore many will not want to accept it.

But as you rightly said, times will change, people will come with a new vision, this should have a certain impact on the world in the future.

[WatChe]

This will have an impact on the world of the future, now we cannot deny that the governments of different countries are paying attention to bitcoin. But they are still afraid of him and the reasons for this are different, some simply do not understand him, and some are afraid of him, because he does not fit into their management model.

They created the banking sector and they find this model very convenient, of course it is good for governments, because it allows them to control everything and allows them to print as much money as they need. With bitcoin, this will not work, and therefore many will not want to accept it.

But as you rightly said, times will change, people will come with a new vision, this should have a certain impact on the world in the future.

IMO it's not because of government ignorance but rather their rivalry with bitcoin that is stopping bitcoin in becoming global currency. Currently, the financial system of every country is fully centralized, aka controlled by government. If they opt for Bitcoin, then they have to sacrifice their control over the financial system.
Of course, we can't say how the future will be, but right now, it looks very much difficult that governments will accept Bitcoin.

[humanvelocity]

Totally agree mate. Bitcoin will and can NEVER become the World Currency mainly because majority of the transactions can be unregulated and can impact the country negatively.  Instead what I can see happen is the government coming up with some solid currency which uses Blockchain technology and then maybe it can slowly start going global.

[nullama]

Totally agree mate. Bitcoin will and can NEVER become the World Currency mainly because majority of the transactions can be unregulated and can impact the country negatively.  Instead what I can see happen is the government coming up with some solid currency which uses Blockchain technology and then maybe it can slowly start going global.

Fiat has been used for funding illicit activities since a long time.

The estimated amount of money laundered globally in one year is 2 - 5% of global GDP, or $800 billion - $2 trillion in current US dollars. Due to the clandestine nature of money-laundering, it is however difficult to estimate the total amount of money that goes through the laundering cycle.

If anything, Bitcoin makes everything a bit more transparent.

[landheer]

Bitcoin becoming world currency means it's no more decentralized and it's never going to happen, Nakamoto never created Bitcoin to be the world next big Fiat currency, it was built to give freedom to the adopters against centralized entities, Fiat is the government currency and Bitcoin is the people's currency, thats why it's fully decentralised and the government will never like anything decentralised anyways and it's cool.

yes I agree with your words.
and indeed if bitcoin is made into ordinary currency it seems that it will be difficult because of the unstable price of bitcoin.
because in my opinion bitcoin would be more suitable to be used as an investment asset only. Because
if it is used as fiat currency it will definitely be difficult.
if used as a means of investment would be good.

[nullama]

~snip~
yes I agree with your words.
and indeed if bitcoin is made into ordinary currency it seems that it will be difficult because of the unstable price of bitcoin.
because in my opinion bitcoin would be more suitable to be used as an investment asset only. Because
if it is used as fiat currency it will definitely be difficult.
if used as a means of investment would be good.

The Argentinean Peso and the Venezuelan bolivar have changed their value a lot, yet they're still currencies.

In 10 years or so, one Argentinean Peso went from being worth $1 to being worth one cent.

And the situation in Venezuela is even worse.

So, I think Bitcoin is pretty stable compared to that.

[Abiky]

The Argentinean Peso and the Venezuelan bolivar have changed their value a lot, yet they're still currencies.

In 10 years or so, one Argentinean Peso went from being worth $1 to being worth one cent.

And the situation in Venezuela is even worse.

So, I think Bitcoin is pretty stable compared to that.

Bitcoin is a lot better than Fiat currencies because it can be used across borders and gives you complete control of your money. It has done well even with the decaying state of the global economy. If Bitcoin has reached this far, then it can do anything. I'd imagine people using it at a large scale worldwide pretty soon.

The pioneer cryptocurrency is not a "world currency", simply because it isn't officially recognized by mainstream governments as such. But technically, it is. After all, anyone can use it anywhere as long as there's access to the Internet. This is only the beginning of the "Bitcoin Revolution" that will change our world for the better. Who knows if someday BTC beats Fiat currencies for good? Just my thoughts

[nullama]

~snip~
Bitcoin is a lot better than Fiat currencies because it can be used across borders and gives you complete control of your money. It has done well even with the decaying state of the global economy. If Bitcoin has reached this far, then it can do anything. I'd imagine people using it at a large scale worldwide pretty soon.

The pioneer cryptocurrency is not a "world currency", simply because it isn't officially recognized by mainstream governments as such. But technically, it is. After all, anyone can use it anywhere as long as there's access to the Internet. This is only the beginning of the "Bitcoin Revolution" that will change our world for the better. Who knows if someday BTC beats Fiat currencies for good? Just my thoughts

I don't think there's ever going to be a world in which we don't have fiat, and we only have Bitcoin.

The reality is that it's going to be much more complex than that. We will have Bitcoin living in parallel with fiat currencies.

Even right now there's some people living in a Bitcoin standard. They get paid in Bitcoin and they pay their goods and services with Bitcoin. Others have massive amounts of Bitcoin and they simply sell a portion of it every month to live off Bitcoin. On the other hand, there's plenty of people that live in a 100% fiat world and have no idea about Bitcoin.

Just like the Internet, the people that use the new technologies will get ahead, and the people stuck in the past will be worse off.