Would Bitcoin become The General Currency in the Future?

[Youngkhngdiddy]

 According to evolution of money, trade was first done with the barter system, then it evolved to commodity money using Gold and it's kind,then into metal coins then paper money, later transactions where done with plastic cards, before it's evolved into electronic money and now crypto currency.
 About years ago El Salvador became the first country to adopt Bitcoin as a legal tender and there are speculations that other countries would also adopt it in the nearest future now my question is, with bitcoin being the leading crypto currency is there a tendency that it would become the generally used currency worldwide?

[Stable090]

According to evolution of money, trade was first done with the barter system, then it evolved to commodity money using Gold and it's kind,then into metal coins then paper money, later transactions where done with plastic cards, before it's evolved into electronic money and now crypto currency.
 With Bitcoin being the leading crypto currency is there a tendency that it would become the general currency worldwide?

We all know that Bitcoin is the leading cryptocurrency, but bitcoin wasn’t created to become the general cryptocurrency world wide, that’s not the purpose why bitcoin was created. Bitcoin was created to serve as an alternative currency. Government won’t want bitcoin to become the general currency world wide, what do you want them to do with fiat currency which they are in control of? they can easily manipulate fiat, they can easily print more money and send to circulation, and they can easily print more fiat currency and divert it to their own personal account. But when it comes to bitcoin it’s having a fixed total supply and the government can’t control it, so am sure the government will do everything possible to stop bitcoin from beginning a general currency and that was not even Satoshi’s plan.

[Nwada001]

Is there a tendency that it would become the generally used currency worldwide?

I don't know how others view it, but I don't think it will ever be. No matter the amount of adoption that Bitcoin will gain, I don't think it will ever be enough for it to gain such acceptance. There will always be one or two governments that are against it and, as such, won't want to accept it as their international payment option. So I guess it's a big no. This is just like asking if Bitcoin is going to replace a country's world currency, which I recently elaborated on in a recent thread.

[Zaguru12]

Although this question might have been asked a couple of times here on the forum I would suggest you search on it to read other people’s view. As for me my opinion is same as the other replies up. Bitcoin was create to be an alternative and can’t be general currency. Although it has all the features that would solve the problems faced by traditional currencies the issue of volatility is still a concern for some people to accept it as general currency most especially the Arabs that see this a gambling thing. The government also has shown in all aspect that they are against something that they can’t have authority on and the anonymity associated with bitcoin will certainly make it add for them to get their ways like the fiat currency.

Also in the past there have never been a central or general currency, the only one that came close was the dollars and with the way USA is using it get more political power so will others want there currency to be.

[mk4]

If you're asking if there's a chance — then theoretically of course there is. It's just the question of will governments allow it to be a dominant currency of their respective countries.

[nakamura12]

If you're asking if there's a chance — then theoretically of course there is. It's just the question of will governments allow it to be a dominant currency of their respective countries.

I support this one where Bitcoin does have a chance but in my own opinion, the chance is low as of now because some countries banned the use of cryptocurrency but there's a country that legalized the use of Bitcoin. Op, if you think that the chance of Bitcoin becoming the general currency is high in the future but we don't know when that would be. Not because El Salvador supported the use of Bitcoin doesn't mean it will become the general currency because of what I just explained and if you did a research about the countries that banned from crypto and countries that doesn't ban crypto then you will know.  The only thing I can say is the same as the quote above.

[cabron]

There were already influencers and some users on the internet saying about BTC becoming a world reserve currency. If I remember correctly Max Keiser also believes it.
But renowned Caitlin Long also believes Bitcoin will global money and she is not afraid in expressing it, here is a link https://bitcoinmagazine.com/culture/caitlin-long-interview-on-bitcoin-banking-integration

It's going to be good for the price of BTC but it may not be good for local people who had not owned BTC their entire life. Sad to see the only coins that are cheapest for them to invest are meme coins.

[AML Soap]

Would Bitcoin become The General Currency in the Future?

Do we even want BTC to be THE General Currency in the Future?
A Global, One-world currency where all transactions are public and traceable? Is that the best thing for the average person in the future?

[BIT-BENDER]

This week alone this would be possible be the fifth or more time I would be seeing this type of question here on the forum. The future is important but if we think too much about the future and neglect the present then I am sorry to say that there won't be any future to start with.

I think the idea of a general currency has for long had it negative effect on the world economy, we have seen the UD dollar hold that position even if it's not the highest value currency in terms of exchange price rate.

I think we need a new standard world currency and it must be neutral, not under the control of any government and Bitcoin fits perfectly into this role. I hope it happens.

[tabas]

About years ago El Salvador became the first country to adopt Bitcoin as a legal tender and there are speculations that other countries would also adopt it in the nearest future

Next was Central African Republic and then the rest are most likely will just let it as neutral.

now my question is, with bitcoin being the leading crypto currency is there a tendency that it would become the generally used currency worldwide?

If legally speaking, there is a chance but can't you see that it's massively being used globally as you've made this thread? Bitcoin was already used as a payment for many countries and how much even more being used a store of value and being held as an investment by the majority. So going to legally speaking, it's highly volatile and if a government makes the use of it then there could be some precautionary measures on their end to be implemented.

[Woodie]

As much as we want bitcoin and other cryprocurrencies to become the everyday currency,  unfortunately fiat is one way our governments use to control inflation or generally the economy and a bit of manipulation here and there...But to say Bitcoin should replace such a monetary system,  I think it will take a century for this to happen as this is us saying our governments should give up their control!

Besides , one constraint that wouldn't make bitcoin acceptable world over are the different regulations each country has and not wanting to be controlled by another in the name of looking independent, and apart from this not all countries are up to speed with today's technology and this will need to be taught for users to know how to protect themselves online and the alike.

[Ndabagi01]

According to evolution of money, trade was first done with the barter system, then it evolved to commodity money using Gold and it's kind,then into metal coins then paper money, later transactions where done with plastic cards, before it's evolved into electronic money and now crypto currency.

According to the evolution of money since inception, another currency may soon replace cryptocurrencies. Because the world is continually growing, there is a chance that another currency will emerge after cryptocurrencies.

About years ago El Salvador became the first country to adopt Bitcoin as a legal tender and there are speculations that other countries would also adopt it in the nearest future now my question is, with bitcoin being the leading crypto currency is there a tendency that it would become the generally used currency worldwide?

It has the potential to become the most widely used money in the world, but this is dependent on each country's adoption. Not every country will want to utilize it and make it a global currency. Country leaders like to have influence over the currencies that are used in their countries. There's a chance it'll happen, but there's a much better chance it won't.

[BitcoinPanther]

About years ago El Salvador became the first country to adopt Bitcoin as a legal tender and there are speculations that other countries would also adopt it in the nearest future now my question is, with bitcoin being the leading crypto currency is there a tendency that it would become the generally used currency worldwide?

Anyone can speculate, even I can speculate things but the question should be, is it realistic?  Although El Salvador had adopted Bitcoin as legal tender, are they using it for commerce?  I think no, I think El Salvador acquire Bitcoin as an investment and not to use as currency.

Bitcoin is great as an alternative mode of payment.  Let us be contented as that since government will not accept Bitcoin as their main currency.  They can make it as legal tender or mode of payment but the government always has limitation for BTC.

[Wiwo]

According to evolution of money, trade was first done with the barter system, then it evolved to commodity money using Gold and it's kind,then into metal coins then paper money, later transactions where done with plastic cards, before it's evolved into electronic money and now crypto currency.
 About years ago El Salvador became the first country to adopt Bitcoin as a legal tender and there are speculations that other countries would also adopt it in the nearest future now my question is, with bitcoin being the leading cryptocurrency is there a tendency that it would become the generally used currency worldwide?

The big question is,  will Bitcoin ever become a global currency?

The answer is rather (NO) because countries around the world will not allow a decentralized currency to become the dominant currency and if you want to base your argument on the evolution and transformation of money,  to say bitcoin will gain global adoption then it may lead to a lot of frustrations since most countries are already developing their own CBDC to compete with other cryptocurrencies like Bitcoin.

Bitcoin is just fine playing the role of an alternative currency,  and only a small percentage of people know about Bitcoin.

[Ever-young]

If you're asking if there's a chance — then theoretically of course there is. It's just the question of will governments allow it to be a dominant currency of their respective countries.

Exactly... The people might all be willing to accept it but that won't be enough. Some countries will still be a major racist of the Bitcoin which will be among the reasons why Bitcoin could not necessarily be accepted as a global means of exchange between countries.

[The Cryptovator]

It seems you're referring to Bitcoin as a potential global currency. However, I believe that a decentralized cryptocurrency with high volatility would face challenges in becoming a widely accepted global currency. While many people appreciate Bitcoin for its potential and the freedom it offers, I personally find it unrealistic to support its adoption as a global currency. One of the reasons is that Bitcoin's decentralized nature makes it difficult for any government to exert control over it, which can raise concerns for regulatory authorities.

[DaNNy001]

I like to be skeptical about this actual thought of bitcoin being the world currency but only time can tell this, the way I see it I think its just simply an evolution that will take place in the financial sector of the world, like you said the world has evolved so  greatly from using different means of money and bitcoin to be used in a general way is still possible in some way but it will take very long but I believe it will surely happen one day.

[Die_empty]

According to evolution of money, trade was first done with the barter system, then it evolved to commodity money using Gold and it's kind,then into metal coins then paper money, later transactions where done with plastic cards, before it's evolved into electronic money and now crypto currency.
 About years ago El Salvador became the first country to adopt Bitcoin as a legal tender and there are speculations that other countries would also adopt it in the nearest future now my question is, with bitcoin being the leading crypto currency is there a tendency that it would become the generally used currency worldwide?

Bitcoin has the potential to be the main currency of the world because it is unique but it still has some limitations. The inconstant nature of its price will discourage people from using it for buying and selling. If the price becomes less volatile in the future people might consider using it more. Another problem will be the technological barrier. Most people don't have access to the internet or Android phones in some developing countries. They might not have access to the Bitcoin network without these technological tools.

Unfavorable government policy will also hamper the spread of the use of Bitcoin as a currency. More countries are getting friendlier with bitcoin but most developed nations are totally against the coin. Some have gone to the extent of banning it because it will limit thier economic control. A high rate of illiteracy and religious belief will impede Bitcoin acceptance and use. Most people will never stop using fiat because it is easier to use. Others might not use it because they feel their religion forbids it. I conclude by saying that Bitcoin and fiat will always exist together for now until the world gets matures for the use of Bitcoin.

[Hyphen(-)]

Would Bitcoin become The General Currency in the Future?

Do we even want BTC to be THE General Currency in the Future?
A Global, One-world currency where all transactions are public and traceable? Is that the best thing for the average person in the future?

Yes, Bitcoin is the solution.

Banking systems with third parties have no privacy, and once your money is in the bank, you are no longer in control of it, and bankers will use our money to make high-interest loans while paying us no or little interest, which is terribly wrong.
That is why Bitcoin was created to give us financial freedom because there are no third parties involved, and we can also profit if we hold them for a long period.

As a result, we believe that Bitcoin will gain global recognition and be accepted globally for the benefit of our society.

[dothebeats]

It has always been alluded by a lot of bitcoin supporters that bitcoin has the potential to be the world's leading currency, but let's face it, bitcoin is far from being a widely-used, high throughput and volume currency. It's designed to be used for transfers here and there, but never in the volume that fiat is currently being used with. I guess, there'd be a time wherein a lot of people will be using bitcoin at the same time, but not the main currency the world uses all at once. It will need an overhaul for bitcoin to be able to handle that much volume without causing too much of a delay between all the transactions.