Do you think Bitcoin will lead the world's current market

[Viscore]

With a trillion dollar market cap and an ever-growing industry, it is quite possible that in the near future, cryptocurrency could play a major role in the world market, especially when global adoption is realized. But for now, it wouldn't be the case because as it stands, cryptocurrencies and bitcoin adjacently is still in its infant state. A lot of improvements within the infrastructure and also within the industry itself must be changed before it could take on the world market. For instance, it's heavy reliance on its deflationary nature makes it not fit for long-term usage, as the developers would have to choose between high value, or more customers. Scams are also rampant in this industry, but so is anywhere else, the problem is that this is debilitating for an industry as recent as the cryptocurrency world.

I do not think that even at a much higher adoption rate, it will not "lead" the worlds market, it will be a good alternative and it will be used by many people but I do not think that it will be leading anything at all.

It will probably be something normal and it will probably be used by a lot of people, tens of millions of people already owns or owned bitcoin before, maybe it will reach a billion one day, not number of people who holds it, but at one point ever had it, and if that's reached that would be awesome. But the whole world is using fiat now, and I think it will continue to be like that for a long time and it would not be that easy to stop doing that anytime soon.

Fiat will never be extinct and will continue to be the only one official currency in the whole world, leaving bitcoin as next to fiat since it’s never intended to compete with fiat in the first place. So even if the adoption rate is  very high, you cannot expect that people will shift easily and leave fiat as easy as that. Although I believe that bitcoin has really that huge potentials to rule the market, but I don’t think all countries government will root for it.

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[Distinctin]

Not by any chance. Bitcoin is not even accepted to most countries which makes this statement blurry. And even if more countries accept it, it is hard to see Bitcoin 'leading' the currencies. Many people or governments are even against its usage or promotion towards their people because doing so will put them at risk of losing because of market price volatility. Unlike with USD perhaps which has a stable market value and is being used across majority of countries. This technology is indeed having advantages in terms of fees and it also promotes faster transactions. But let us accept that Bitcoin and other cryptocurrencies are more beneficial as an asset or type of investment, to its users.

As long as it’s centralized, bitcoin will never have any chance to replace the position of fiat no matter how high it’s adoption rate. And seeing a lot of governments are also not supporting bitcoin, so it’s hard to put bitcoin at the top of the market when fiat will always be in high demand from its users. So you’re right, let’s leave bitcoin as the best crypto investment in the market, not as a currency.

[odunybiz]

We know the US dollar is the world-accepted banknote and can be used as a medium of trade.  In the crypto world, Bitcoin is the most popular and the highest-received currency with incredible value. Different nations have authorized bitcoin for transactions and multiple of them are sentiments. Its approval is slowly expanding day by day. Do you think bitcoin will be the commander of the world’s currency market like the US dollar in destiny?

This is highly possible. Bitcoin can be a general currency spent by the whole world if the world want to have a general currency.

[BitcoinPanther]

We know the US dollar is the world-accepted banknote and can be used as a medium of trade.  In the crypto world, Bitcoin is the most popular and the highest-received currency with incredible value. Different nations have authorized bitcoin for transactions and multiple of them are sentiments. Its approval is slowly expanding day by day. Do you think bitcoin will be the commander of the world’s currency market like the US dollar in destiny?

No, Bitcoin will always be an alternative currency.  Powerful governments will not allow Bitcoin to be their main currency because Bitcoin is decentralized and is not controlled by the government.  the government think that it will be catastrophic if they lose control over their financial system so I think the best position bitcoin have is just being an alternative.  Nothing more.  Bitcoin can lead the cryptocurrency industry but it will not replace fiat currency to dominate the global market.

[Adbitco]

US dollar still remains the same nothing changes and nothing added, and as far as i know is always generally acceptable all over the globe. Get this for sure, bitcoin is not created to compete with any banknote or currencies, but it's created to serve a purpose as an alternative means of payment or use of transactions which I strongly believe it have been achieved today, and through bitcoin it gives formation of other cryptocurrency such as the altcoins also serving same purposes as an alternative means of payment the give us rise to a financial freedom.

[fadhilz123]

This is highly possible. Bitcoin can be a general currency spent by the whole world if the world want to have a general currency.

The problem is that not all countries consider Bitcoin as a common currency, so it still takes more time for Bitcoin to be recognized as a common currency in the world, although this will not prevent Bitcoin from continuing to grow and get promotions from countries that have adopted it. as the legal currency in terms of payment for goods. So it is only about time for Bitcoin to be considered as a common currency in all parts of the world.

[qwertyup23]

We know the US dollar is the world-accepted banknote and can be used as a medium of trade.  In the crypto world, Bitcoin is the most popular and the highest-received currency with incredible value. Different nations have authorized bitcoin for transactions and multiple of them are sentiments. Its approval is slowly expanding day by day. Do you think bitcoin will be the commander of the world’s currency market like the US dollar in destiny?

I doubt that BTC would lead the world's current market given its overall influence and impact in the world.

Sure, there has been an increase of people investing in BTC over the years and its market liquidity is significantly large. But I doubt that it will dominate to the point that it will takeover the dollar and other currencies. Remember that BTC has been banned and prohibited in some countries. That fact alone makes it impossible for it to lead the world market.

Also you have to consider that once BTC dominates, expect tighter and stricter regulation on its end. Countries would try to implement it but there will be some sort of control by the government which could be a double-edged sword in the long-run for us investors.

[karmamiu]

Well, I am no expert but for crypto or bitcoin to become a reserve currency, there will a series of tests and other factors to consider. According to what I had read before, there are things like economic stability of the certain country but in the case od crypto I think due to its volatility it'll be quiet a challenge, but it also doesn't mean the chances are zero. Again I am no expert I only knew about it from somewhere when I was browsing about the next reserve currency.

[BitcoinPanther]

Well, I am no expert but for crypto or bitcoin to become a reserve currency, there will a series of tests and other factors to consider. According to what I had read before, there are things like economic stability of the certain country but in the case od crypto I think due to its volatility it'll be quiet a challenge, but it also doesn't mean the chances are zero. Again I am no expert I only knew about it from somewhere when I was browsing about the next reserve currency.

It is not only the volatility but being decentralized, giving the government a hard time, if not impossible, to control its market.  We all know that the government always wanted to control everything because the government believe that controlling things is for the benefits of its citizen.

Although government had seen the potential of Bitcoin and blockchain technology, they are still hesitant to fully adopt it because they are having a hard time  creating regulation on the said cryptocurrency.  As a result, the government will only see Bitcoin as an alternative to their fiat currency.

[Pejoh Asu]

Bitcoin continues to grow and often becomes trending on social media or on television, many countries are afraid that bitcoin is banned but slowly now more and more countries are legalizing bitcoin so that it makes a surge in users, and if bitcoin can last another 15 years then many countries will now banned will soon legalize.

[Fesatmas]

It could happen but it must first go through a series of very long processes. Now, not all rulers are happy with the existence of bitcoin, even some of them want to get rid of it, that is the real challenge. Also bitcoin has to compete with the ruling governments in various countries. It would not be possible for the current currency that leads the world market to want to be shifted by bitcoin, they will definitely do everything they can to prevent that from happening.

[CapGelatik]

Bitcoin continues to grow and often becomes trending on social media or on television, many countries are afraid that bitcoin is banned but slowly now more and more countries are legalizing bitcoin so that it makes a surge in users, and if bitcoin can last another 15 years then many countries will now banned will soon legalize.

Especially during the pandemic many started investing in Bitcoin,
Bitcoin will continue to grow so for sure it will be more interesting to wait,
Regarding legalization, I don't think it's easy to see many countries legalizing Bitcoin, but anything can happen.

[hugeblack]

The answer to this question will be more political than economic. Will we move from the unipolar stage, where there is one central reserve currency, or will we witness more currencies? If we are going to see more currencies, then this means that there are alternatives to the dollar, which will be gold and some other monetary currencies.

Bitcoin in its current form and current market capacity will not be a replacement, but who knows what will happen in several years.

[Wong Gendheng]

The influence of bitcoin is getting stronger and now more and more people are active in using bitcoin, negative campaigns carried out by haters do not affect it because Bitcoin has a solid global community and feels to get many benefits from Bitcoin, it is natural that in the future Bitcoin will be stronger and I'm sure there will be many a country that inaugurated Bitcoin.

[kryptqnick]

Bitcoin is already #1 among cryptocurrencies, and I think it will stay this way. Similarly, the USD is at the top in the world of fiat currencies. Although not quite, as it seems that at east by market capitalization, Chinese Yuan might be bigger (or not, I'm getting different results online, and I'm confused on this part). However, the USD is much bigger by official foreign exchange reserves, and the Chinese Yuan isn't even in the top-5. It's a little hard to compare fiat and cryptos because it's uncertain which metric should be used for fiat dominance. If the question is whether Bitcoin will surpass fiat currencies (either the USD or another top currency) by market cap, then it's possible that it will surpass a top one (after all, dollar's total circulation is 2.1 trillion, which isn't a totally unattainable value for Bitcoin (in terms of market cap)). If it's about a global reserve, I think it's less likely. If it's about actual regular usage as money, it's way less likely.

[coupable]

The influence of bitcoin is getting stronger and now more and more people are active in using bitcoin, negative campaigns carried out by haters do not affect it because Bitcoin has a solid global community and feels to get many benefits from Bitcoin, it is natural that in the future Bitcoin will be stronger and I'm sure there will be many a country that inaugurated Bitcoin.

not only this.  Bitcoin has proven its efficiency in times of crisis.  It represents the best solution in war zones, where it is difficult to move and obtain money.  The Corona crisis was a global pandemic in which Bitcoin managed to spread more and gain people's trust.  And today Bitcoin is on the way to becoming a hero of all times, not just crises.

[slapper]

US dollar still remains the same nothing changes and nothing added, and as far as i know is always generally acceptable all over the globe. Get this for sure, bitcoin is not created to compete with any banknote or currencies, but it's created to serve a purpose as an alternative means of payment or use of transactions which I strongly believe it have been achieved today, and through bitcoin it gives formation of other cryptocurrency such as the altcoins also serving same purposes as an alternative means of payment the give us rise to a financial freedom.

More country is withdrawing from the US and holding gold. And after many cycles (3 IMO), you can see bitcoin has gained more and more reputation. So I am confident to say that bitcoin will soon become a top asset in the world market. The world is shifting toward digital. More and more devices are able to connect to each other and blockchain technology is everywhere. How bitcoin is used will determine its place in the future and you can see that many people are storing bitcoin for long term.

[Kelvinid]

We know the US dollar is the world-accepted banknote and can be used as a medium of trade.  In the crypto world, Bitcoin is the most popular and the highest-received currency with incredible value. Different nations have authorized bitcoin for transactions and multiple of them are sentiments. Its approval is slowly expanding day by day. Do you think bitcoin will be the commander of the world’s currency market like the US dollar in destiny?

Bitcoin will only dominate in the crypto world, it is different when it comes to global trade because it was too hard to defeat USD. Well, I don't think that the US will also give up and give full support to Bitcoin when they know that they can't control and manipulate it. Perhaps, it is not a competition for what currency to dominate globally because Bitcoin is just been designed to be an alternative currency. People will make their decisions and pick which one is preferred for them.

[goaldigger]

The influence of bitcoin is getting stronger and now more and more people are active in using bitcoin, negative campaigns carried out by haters do not affect it because Bitcoin has a solid global community and feels to get many benefits from Bitcoin, it is natural that in the future Bitcoin will be stronger and I'm sure there will be many a country that inaugurated Bitcoin.

not only this.  Bitcoin has proven its efficiency in times of crisis.  It represents the best solution in war zones, where it is difficult to move and obtain money.  The Corona crisis was a global pandemic in which Bitcoin managed to spread more and gain people's trust.  And today Bitcoin is on the way to becoming a hero of all times, not just crises.

Bitcoin also suffer during that time, have you seen the trend? We are just starting to recover from the effect of pandemic and the war, Bitcoin is not a safe haven just like the think of many here because it happened that it also follows the economy of the bigger countries. Well, Bitcoin will remain Bitcoin and it will never be the top choice when it comes to cryptocurrency simply because its serve its different purpose. Fiat money will be the lead option, followed by digital currency of course.

[Sanitough]

We know the US dollar is the world-accepted banknote and can be used as a medium of trade.  In the crypto world, Bitcoin is the most popular and the highest-received currency with incredible value. Different nations have authorized bitcoin for transactions and multiple of them are sentiments. Its approval is slowly expanding day by day. Do you think bitcoin will be the commander of the world’s currency market like the US dollar in destiny?

No, I don’t see it leading the current market, not even in the future. Because bitcoin is never designed to change the financial system and replace US dollar from its position. It is created so that people will have another option for payment method aside from fiat. And to think that most of the countries are still not open about bitcoin, not legalizing bitcoin as a currency, so it will always remain as an asset rather than a currency. And knowing how volatile its price is, people will only get confused if they consider it as a payment method.