Do you think Bitcoin will lead the world currency market??

[Clark Anderson]

 US dollar is the world accepted currency and can be used as a medium of exchange.  In the crypto world, Bitcoin is the most popular and the highest accepted currency with greater value. Different countries have permitted bitcoin for transaction and many of them are thinking so and will eventually do so. Its acceptance is gradually increasing day by day. Do you think bitcoin will be the leader of the world’s currency market like US dollar in the future?

[348Judah]

Why not, judging from what we have today it will definitely lead, but not until then it will take a little more time for globalization whereby it's adoption would have circulated everywhere and legal adoption would have also increases, as at present, bitcoin is one of the leading currencies in the market and the first digital currency leading as well in the economy, if you look at the 14 years miles of achievements bitcoin had been through you could see more convictions to why it can successful lead the world digital market and economy at large through adoption.

[Yogee]

Bitcoin can be an alternative but will not be a replacement. Banks and Government will move heaven and earth to make sure that will never happen hehe. They can make concessions like allowing it to co-exist with their national currency as an investment product or a legal tender but they will never allow it to exceed fiat or their own CBDC if they have one.

[Edwardard]

Do you think bitcoin will be the leader of the world’s currency market like US dollar in the future?

Although I think BTC is primed to beat gold in the near future and become one of the top accepted digital currency globally, but it still cant replace the USD to lead the world markets.
Actually, the us dollar moves the entire markets such as gold, btc, stocks, etc. and governments wont let anything replace that. Market pumps and recession everything happens based on the USD.

[Ucy]

Bitcoin will certainly remain the leader in decentralized cryptocurrency space, which is all that matter.. Its purpose is not to replace the dominant fiat currencies or compete with them but to serve as alternative when the world/national financial system is failing, becoming oppressive, lawless, tyrannical, etc. Fiat currencies will continue to compete with each other in their own space while Bitcoin will remain dominant in decentralized space.

[avikz]

US dollar is the world accepted currency and can be used as a medium of exchange.  In the crypto world, Bitcoin is the most popular and the highest accepted currency with greater value. Different countries have permitted bitcoin for transaction and many of them are thinking so and will eventually do so. Its acceptance is gradually increasing day by day. Do you think bitcoin will be the leader of the world’s currency market like US dollar in the future?

Nope! I don't see bitcoin dominating the global currency market anytime in future. The world may change focus from USD to EUR or even local currencies, but not bitcoin.

As of now, only one country has adopted bitcoin for all kinds of payments. I don't know what other countries you are referring to.

Bitcoin has created a parallel economy stream and thriving there. It is not meant for mainstream economy for a simple reason - decentralisation!

[kryptqnick]

US dollar is the world accepted currency and can be used as a medium of exchange.  In the crypto world, Bitcoin is the most popular and the highest accepted currency with greater value. Different countries have permitted bitcoin for transaction and many of them are thinking so and will eventually do so. Its acceptance is gradually increasing day by day. Do you think bitcoin will be the leader of the world’s currency market like US dollar in the future?

If you think about it, there are very different metrics to consider here. Dollar is legal tender (accepted as payment directly) only in a handful of countries, and it's not hard to imagine Bitcoin having more users in the near future than dollar has as money. But people also use dollar to save up money if their local fiat is less reliable, and people use Bitcoin often for things other than payments for goods and services (for example, for gambling or trading). Dollar is also the biggest foreign reserve currency used by countries, and I don't see Bitcoin beating dollar in this regard any time soon. Then there's market capitalization (or, for dollar, total supply), daily transaction volume and the amount of transactions. To talk about leading the currency market, we must first determine which factors we take into account and how we compare Bitcoin with the USD.

[OgNasty]

Bitcoin can be an alternative but will not be a replacement. Banks and Government will move heaven and earth to make sure that will never happen hehe. They can make concessions like allowing it to co-exist with their national currency as an investment product or a legal tender but they will never allow it to exceed fiat or their own CBDC if they have one.

I would agree with this assessment. Right now Bitcoin is still relatively small on the global scale, especially when compared with top currencies. While I do believe the dollar will be replaced, I think it’s likely it will be replaced by a central bank digital currency, possibly made up of a basket of currencies. There is a chance that the people will reject government and use Bitcoin only, but I’d put the odds of that happening at probably 1%.

[m2017]

US dollar is the world accepted currency and can be used as a medium of exchange.  In the crypto world, Bitcoin is the most popular and the highest accepted currency with greater value. Different countries have permitted bitcoin for transaction and many of them are thinking so and will eventually do so. Its acceptance is gradually increasing day by day. Do you think bitcoin will be the leader of the world’s currency market like US dollar in the future?

My answer to the question in the title is NO.

Your expectations are unnecessarily naive. Name those countries that have allowed btc as for transaction. What other countries will do the same? Is this your expectation or verified information?

I assume that officially btc will not be allowed to be used as a currency for settlements. Perhaps it will be used as an investment tool, like stocks on technology companies.

[pooya87]

You made a bad comparison hidden inside your question. Comparing bitcoin with altcoins like you compare USD with other fiat currencies is wrong because unlike altcoins, other fiat currencies are still useful and their nature is pretty much the same as dollar (unlimited supply, not backed by anything and weak). But altcoins are useless and many of them have severe security flaws.

As for your question, I don't think the centralized system is going away any time soon. With it the [centralize] fiat will remain and dominate the world. When these fiats are replaced they are replaced by another fiat.
But bitcoin will continue growing and continue being used on the global scale as a means of payment and a hedge against inflation.

[PrivacyG]

I doubt Bitcoin will get to dominate the Fiat market.  The Fiat market is way too big.  Way too Centralized.  Do you think they will ever let Bitcoin become a majority?

The leading World Currency will continue to be a Centralized one.  Bitcoin may become a national asset and legal tender in countries, but I will never expect it to exceed the size of Fiat markets because at this point I think it is very unrealistic.

-
Regards,
PrivacyG

[so98nn]

May be or may be not. There are pros and cons for the use of bitcoin. There are definitely infrastructure based limitations to the bitcoin while making world's currency. Though this topic is discussed many times, the conclusion has always been mixed up. A bitcoin maximalist will always be positive about their answer but a realism one would say its not 100% possible to make it world's currency. With the time we will have bitcoin's adoption but it does not mean it will be throughout the world. Though bitcoin has reach to every corner of the world through internet, it still lacks proper infra (laws, rules, scalability) sort of problems putting it one step behind all the time. Till today the adoption is only 3-4% of the entire population. It's not even 1/10th of 100% which means we are far from the acceptance reality dude.

[teosanru]

US dollar is the world accepted currency and can be used as a medium of exchange.  In the crypto world, Bitcoin is the most popular and the highest accepted currency with greater value. Different countries have permitted bitcoin for transaction and many of them are thinking so and will eventually do so. Its acceptance is gradually increasing day by day. Do you think bitcoin will be the leader of the world’s currency market like US dollar in the future?

I don't think what you are saying will happen. I have discussed it so many times. Bitcoin has inherent problem which is it's huge volatility so whenever a government decides to keep bitcoin in reserve it's taking a huge foreign exchange risk which it has to hedge unnecessarily so unless it becomes the local currency of that area too it makes no sense to do foreign trades in this currency which is why it'll never become world currency.

[The Cryptovator]

Since it has been in existence for more than ten years, bitcoin has significantly increased in popularity and acceptance as a form of money. Whether it will eventually lead the world currencies is still to be determined. For Bitcoin to dominate the global currency market, a number of criteria, including stability, scalability, acceptance by governments and institutions, security, and regulatory measures, would need to be taken into account. Several issues that Bitcoin and other cryptocurrencies are currently facing in these areas remain to be addressed in the future.

[Finestream]

US dollar is the world accepted currency and can be used as a medium of exchange.  In the crypto world, Bitcoin is the most popular and the highest accepted currency with greater value. Different countries have permitted bitcoin for transaction and many of them are thinking so and will eventually do so. Its acceptance is gradually increasing day by day. Do you think bitcoin will be the leader of the world’s currency market like US dollar in the future?

I think there was a similar thread like this in the past but I still want to give my point of view about this. It never come to my senses actually that we will end up seeing bitcoin overtaking the position of US dollar. Because bitcoin is not actually made to become the leading market currency but rather a good alternative as a payment method so that people can use them freely whenever they think it’s more convenient to use bitcoin than fiat. However, maybe in the future when all the countries will support bitcoin, seeing it leading the market will be possible but for now it’s too far from that to happen.

[Russlenat]

US dollar is the world accepted currency and can be used as a medium of exchange.  In the crypto world, Bitcoin is the most popular and the highest accepted currency with greater value. Different countries have permitted bitcoin for transaction and many of them are thinking so and will eventually do so. Its acceptance is gradually increasing day by day. Do you think bitcoin will be the leader of the world’s currency market like US dollar in the future?

I don’t think bitcoin will be chosen for that position seeing that most of the government are against from the perception of bitcoin. I would rather accept the challenge that it could be a global currency in the future but will never reach to the point of replacing US dollar from leading the world currency market. But nevertheless, maybe in the future it might be possible once the government will become more open-minded and will accept the fact that bitcoin is more useful and beneficial than fiat.

[Yatsan]

Been asked multiple times and I'd still say no. Bitcoin has a lot of potential to be a good investment because of its volatile market value and the same reason why it won't be a leading currency. Yes, it has advantages over payments; not taxable, anonymity, low fees but faster transaction and such. But it has problems with adoption around the globe.  Even at this point, people are only making use of it for profit purposes and only a few are actually using it with transactions because of many factors such as guilt of losing potential profit in comparison with just holding. And as long as its nature would be the same, I guess same thing would happen in the future.

[serjent05]

I think Bitcoin as an alternative currency will not lead the world currency market.  Where do you see an alternative leading the market?  Unless all governments in the world accept Bitcoin as legal tender then by all means, it will beat even the USD or Euro in terms of currency ranking. 

Bitcoin is yet to be acknowledged by many countries, and even ban them because they think that bitcoin is destroying their economy, and or their citizens are being exploited.

[GreatArkansas]

I think Bitcoin as an alternative currency will not lead the world currency market.  Where do you see an alternative leading the market?  Unless all governments in the world accept Bitcoin as legal tender then by all means, it will beat even the USD or Euro in terms of currency ranking. 
(....)

As always. Bitcoin was created also to solve the current issues in our financial system. If you take a look and appreciate Bitcoin, you will see how Bitcoin can help us and become financial freedom compare to traditional banks or the financial systems we have right now.
For me, even though Bitcoin will not lead the world currency, Bitcoin is still the best digital currency, Bitcoin is here to stay.

[yudi09]

Do you think bitcoin will be the leader of the world’s currency market like US dollar in the future?

Governments around the world want to ensure that their currency is a currency that is free to move in all forms of local and global market activity every day even though some countries also use digital currencies to invest.
Bitcoin will go hand in hand with the official currencies of each country such as USD and EUR and I can say that Bitcoin cannot lead the world currency market but Bitcoin can be an alternative.