Bitcoin is Becoming a Global Currency

[benjamindees]

For the first time, when I look at the offers on LocalBitcoins.com, there are a half-dozen currencies ahead of the US dollar, offering a higher price for Bitcoin than US dollar users.

Euros, South African Rands, New Zealand Dollars, Hong Kong Dollars, Polish Zloty, Malaysian Ringgits.

It is no longer just the US, EU or even China driving adoption.  There is a market for Bitcoins in major countries all over the world.

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[marcus_of_augustus]

I'm not sure I would class some of those countries as 'major' ... but there is a general sense now that bitcoins are leaving the USA, and at an accelerating rate.

[Lamalicious]

It's great! Soon we'll take over the world... soon...

[Satterfield]

Yes I also think that bitcoin is becoming a worldwide currency and more people are interested to know about it, how they can treat it.

[zolace]

Is not surprising, and the governments won\t be able to stop bitcoin.We have to hear good stuff about this coin,not only negative ones.I in bitcoin,and i believe will become the top global currency!

[Nerazzura]

if BTC become "mainstream" and many merchant around the world adopt it, i'm sure BTC will become a global currency
even without any government backup it

[countryfree]

For a given country's population, if the share of bitcoiners was the same in every country, Americans would only make 5% of all transactions. On the other hand, if using bitcoin is relative to the available wealth, the U.S. will keep on dominating bitcoin for many more years.

[bitcasino]

It's great! Soon we'll take over the world... soon...

WONDERFUL PICTURE 

[cococoin]

Is not surprising, and the governments won\t be able to stop bitcoin.We have to hear good stuff about this coin,not only negative ones.I in bitcoin,and i believe will become the top global currency!

But the current economic situation, many countries began to address the currency bitcoin above, many are used for money laundering, so this is a very difficult problem.

[bobdutica]

The idea that Bitcoin is used for money laundering is a red herring. The biggest money launderer in the world is HSBC. http://www.bloomberg.com/news/2013-07-02/hsbc-judge-approves-1-9b-drug-money-laundering-accord.html

[waldox]

bitcoin is the crypto reserve currency

soon it will be the global reserve currency for fiat

[boumalo]

For a given country's population, if the share of bitcoiners was the same in every country, Americans would only make 5% of all transactions. On the other hand, if using bitcoin is relative to the available wealth, the U.S. will keep on dominating bitcoin for many more years.

They have a head start so they will fare well in the coming year in terms of BTC holdings

Bitcoin will really take off when the fiat currencies will show their weaknesses, most still think the USD is undestroyable

[specgamer]

Certainly, bitcoin is becoming a world wide currency, and will grow bigger in the future. Half of the places I go now, all except bitcoin.  I guess that's a good thing for us investors. BTC

[NUFCrichard]

Certainly, bitcoin is becoming a world wide currency, and will grow bigger in the future. Half of the places I go now, all except bitcoin.  I guess that's a good thing for us investors. BTC

A global currency, yes. A major global currency, unfortunately not, and it seems a long way off happening too..
There is a long list of countries that are being screwed over with negative interest rates and massively devalued currencies, people in these countries would have done very well getting their money into bitcoin a few months ago, but as can be seen by the low price, they aren't really doing that.

I guess price volatility is still too high, or upwards price volatility too low for people to be tempted in on mass.

[ajareselde]

It definetly is gaining more adoption with time, regardless of the price, but its still far away from competing with world currencies back to back.
The best thing about bitcoin is that it knows no nationality, it is universal, and thats another thing that will make it success.

cheers

[thejaytiesto]

For a given country's population, if the share of bitcoiners was the same in every country, Americans would only make 5% of all transactions. On the other hand, if using bitcoin is relative to the available wealth, the U.S. will keep on dominating bitcoin for many more years.

I think south euro countries may start becoming the main countries in term of transactions volume, also then later on add all those poor countries without banking system once with SMS technology you can do more than enough to operate with BTC.

[countryfree]

For the first time, when I look at the offers on LocalBitcoins.com, there are a half-dozen currencies ahead of the US dollar, offering a higher price for Bitcoin than US dollar users.

You may also note that many people may be using the US dollar without being US citizens.

[Hazir]

You may also note that many people may be using the US dollar without being US citizens.

That is exactly the case here. US Dollar is still the most used business currency in the world. You are paying for most of your international deal with US Dollars after all. I don't think it will gonna change anytime soon. While other currencies stay close and some are even more expensive than USD it dies not matter since dollars are more regarded and used all over the world. But I do not see bitcoin becoming World Currency anytime soon bitcoin revolution just begun.

[Possum577]

Is not surprising, and the governments won\t be able to stop bitcoin.We have to hear good stuff about this coin,not only negative ones.I in bitcoin,and i believe will become the top global currency!

I don't think it's as clear cut as "governments won't be able to stop bitcoin."

Governments can and have done some awful things to control the people. They can certainly push bitcoin underground, which wouldn't be good. But the people control of this too. The people need to elect leaders that support the future they want to see. The people need to get more involved in politics. The people need to find their voice...then use it.

[marcus_of_augustus]

Is there any evidence of penetration beyond the black market?

The global black market capital flow has been estimated around $20 trillion and growing at faster rate with the widespread trend towards financial facism (cash limits, bank account monitoring, capital controls, financial data mining, etc).