Would Bitcoin become The General Currency in the Future?

[irhact]

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 could become the generally acceptable currency since it won't have any restrictions, you can spend it in any countries you travel to without having to exchange it to the countries local currency. Bitcoin is borderless but it'll have a very strong challenge from the government. Government won't make bitcoin a global currency because they can't control it and the governments loves controlling our finances because it give them power over us..

They'll use excuse of Bitcoin been use by criminals to avoid it been globally accepted. The government mightn't openly support Bitcoin but we can make it a globally currency by accepting it in our shops and when every body does that, the government won't have any choice but to accept it too.

[1714687171]

1714687171

[crypticj]

No.
I already posted about this here, but if you'll look at Bitcoin sentiment right now, people don't even consider it as a currency anymore. Everyone sees it as an investment and an asset to trade.

Besides, it's obvious that something that is as volatile as bitcoin, just can't belive in general currency. People will never use a currency that can drop 5% a day.

So it looks like that Bitcoin will just keep being an asset.

[GreatArkansas]

(......)
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?

For me now, it's still difficult to say that Bitcoin will be the "general currency" I can say maybe it will be just an alternative to what we have now because we have a lot of issues right now on Bitcoin, especially the volatility.
About El Salvador, it seems that when they started to accept Bitcoin as a legal tender, it seems it is successful and effective. El Salvador will just need to overcome some obstacles including price volatility and adoption.

[wxa7115]

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?

It depends on what you mean by a general currency, if you mean the currency governments use as the reserve currency of the world then I do not think this is likely, as governments will do everything in their power to avoid this scenario happening.

However if by general currency you just mean that people will use bitcoin on their everyday lives and that bitcoin will be accepted in a great deal of businesses around the world then I think this is something which may actually happen, it is just that it will take us some time before it does.

[Sakanwa]

 Everyone in the crypto space would wish for this to happen at the moment but there are many challenges that's made this almost impossible to archive even in the future. Bitcoin is a decentralized currency and the government especially (U.S) would not see it'success being used as general currency.
 The government won't want a currency beyond their control, cause bitcoin can't be manipulated just like the fiat currency and moreover there are very few people currently that have a good knowledge about bitcoin including the barriers of mining it as well.
 Though it's likely to be but there a lots of work to be done before it's accepted globally where as the sole aim of satoshi was it to be used as an alternative to fiat as a means of buying and selling and also to remove third parties that are required to conduct digital monetary transfers, well only time would tell if bitcoin would be the currency of the future.

[Agbe]

 After El Salvador's adoption of bitcoin there is an another country that has adopted it which is the Central African Republic but the El Salvador's adoption is not popular than the Central African Republic adoption. Since after the adoption of bitcoin by Central African Republic I have not heard any news from them. Bitcoin being the last currency in the world is not possible but it will be almost but it will still be as the alternative measure to the fiat currencies. If bitcoin will be the last currency in the then they have to print the hard copy of the currency because not everyone can use the internet to buy and sell. What about the age and the old group of people. Though that is the highest expectations of the youths in the world but they have to think of others as well.

[CryptSafe]

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?

As you have said, money evolved from various forms till this point were we are now. Currently, we are at the digital stage and as time goes on, new discoveries would emanate making some forms obsolete.

Bitcoin is currently the new form of money gaining recognition and according to the whitepaper it is the peoples orientated money whereby no one has control over it. Satoshi invented it and handed it over to the masses to use it as their alternative source of payment which many bought in the idea and since then, millionaires been made, bitcoin is been accepted by nations, businesses etc are thriving on bitcoin and gradually, bitcoin is becoming more popular and stronger.

[romero121]

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?

As you have said, money evolved from various forms till this point were we are now. Currently, we are at the digital stage and as time goes on, new discoveries would emanate making some forms obsolete.

Bitcoin is currently the new form of money gaining recognition and according to the whitepaper it is the peoples orientated money whereby no one has control over it. Satoshi invented it and handed it over to the masses to use it as their alternative source of payment which many bought in the idea and since then, millionaires been made, bitcoin is been accepted by nations, businesses etc are thriving on bitcoin and gradually, bitcoin is becoming more popular and stronger.

Bitcoin as a new form of currency have gained acceptance in some part of the world. This means there is no legal support from all the countries. To achieve legality from all the country will take lot many time. It have got adopted as their currency in El Salvador. They're bold enough to make the decision. Every country won't do it. Compared to the past now people were able to spend bitcoin directly. Over time the transition will happen when governments start understanding the real potential behind bitcoin.

[Reatim]

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?

But even EL Salvador's adoption of Bitcoin the world already let Bitcoin being used in many countries though there are no formal adoption like what that country did,
what I mean here is that Bitcoin already dominating the online money system (at least in some part of the world) and with that we can see the potential of being the main currency if the world continue its acceptance and the discrimination and the FUD will stopped , government only need to accept the fact that crypto is the currency of the future.

[Gulttam2a2]

Day by day the use of money will decrease. Now almost everyone is trusting online exchange. Bitcoin is the most popular currency online. We all know that Bitcoin is not legalized in any country yet. Bitcoin is a platform that is very easy to transact online. You don't have to wait in line like a bank. If Bitcoin is legalized in all countries, its use will spread very quickly to everyone, the effect of which country can't predict. When Bitcoin is launched, everyone will do transactions through Bitcoin. Bitcoin payment system everywhere. If there is then everyone will pay in Bitcoin. Bitcoin is still the number one currency. I think that in the future Bitcoin will take over the whole world if it is legalized. But I am still worried about whether Bitcoin will be legalized.

[Onyeeze]

Bitcoin have stayed up to 13 years since it's created so I believe that will have something like domination when it last up to 50-100 years, in another comment where respond to a similar discussion like this, I made my suggestion to be clear and understanding that Bitcoin can't take over traditional currency and I gave my reasons there, why I said so is that Bitcoin have not gotten enough backyard across the nations because Bitcoin is battling for some certain things that you don't know well.

[KiaKia]

Bitcoin doesn't need to be the general currency for the whole world in the future all I want is the survival of Bitcoin and the overlook of the government on the digital currency to make it more acceptable by the masses in the future.

Enough of the centralized entities and the government trying to control Bitcoin they should start planning to accept Bitcoin and also gave the people the go-ahead signal that Bitcoin is not a dangerous digital currency because I believe that majority of people are waiting for the government to give them the okay sign before they can start investing in something like Bitcoin.

Now that the ETF looks like something that could work out, maybe the way people look at Bitcoin will be different soon.

[thecodebear]

I doubt Bitcoin will be like THE currency for the world. In that I don't think it will ever displace national currencies and become the one currency for humanity. Simply because govts/central banks are not going to give up the immense control and power that a national fiat currency gives them. All fiat currencies will continue to lose value, and some might eventually collapse, some nations may eventually collapse due to the burden of an avalanche of debt, and some of these may choose to go with Bitcoin after that happens, but I don't ever see a time when all the govts in the world abandon national currencies for Bitcoin.


Much more likely Bitcoin is the world's alternate currency. People will use Bitcoin alongside their national currencies, sometimes spending bitcoin something spending fiat, usually saving in Bitcoin of course though, but still saving a basic emergency fund in fiat just due to bitcoin's volatility, even though the volatility will eventually be fairly low once bitcoin is mature and global adoption has been reached. Some places may almost exclusively use Bitcoin, but I expect this to not be the norm.

Besides, in terms of utility for people, fiat currencies (or their stablecoin counterparts) have the important utility of remaining relatively stable. Certainly more stable than Bitcoin ever will since it is not tightly controlled and manipulated by a central bank to remain relatively stable. The world needs relatively stable (though inflationary) currencies, and so the world will continue to use these currencies. But what that world doesn't provide is a hard non-controlled currency which humanity also needs, and that is where Bitcoin comes in. At full adoption, I'd say the highest Bitcoin could reach is something close to 50% usage/ownership compared to all national currencies combined, as the highly used alternative currency for humanity, but I don't see it ever reaching 100% use.

[Dr.Osh]

the potential is there, as some countries have also accepted bitcoin as a payment alternative, so i think with the development of time, bitcoin may have a chance to become a recognized currency.
It's just that, the current fact still makes bitcoin more likely to lead to investment than money. besides that, quite a lot of countries prohibit bitcoin as a payment alternative because bitcoin does not have a centralized system. Whereas we know that if the system is not centralized, it is difficult for the government to accept it, and the government has many reasons why they cannot accept the concept of decentralization.

[isaac_clarke22]

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.

It will not and let's keep it that way as long as there are governments trying to put into stop into Bitcoin. See how every KYC out there becomes like a pain in the ass just for the sake of compliance to the authority that regulates the usage of crypto? Yeah imagine if almost every single method of being able to use Bitcoin out there now requires KYC and you're not allowed to do P2P or else it's jail time.

It's going to be co existing for sure with fiat money just like how bank cards do.

There were plenty of threads about this back in 2017 about replacing fiat money so surely people already knew the answer that time.

[Asuspawer09]

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 is a popular digital currency out there and until now we all believed in Bitcoin, Personally, I can see a lot of potential in Bitcoin to become a future currency, I mean it runs on the internet and a lot of transactions these days are already done online, also there are a lot of advantages on using online transaction and it avoids a lot of problems of fiat money.

Still, even though there are a lot of advantages to Bitcoin I don't really think it made to become the general currency around the world, I mean I don't think there will be a currency that the world can use or are we even going to use just one currency in the future? I think not. For me, Bitcoin is a great cryptocurrency but because of its nature, having a volatile market price I don't recall thinking it's going to be capable of becoming a currency that we use daily on our transactions I mean there are a lot of problems on that, I think it is the best for investment and only for investment at this point, surely when we used it on a transaction or in a business that one taking the Bitcoin is investing already since he's not really going to sell the Bitcoin the time the transaction was made.

[RewFrew]

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?

No i don’t think that. Because bitcoin is father of all cryptocurrency. All cryptocurrency created following Bitcoin. Bitcoin is top of all cryptocurrency. It’s Technology is different from others. And it created it position to the moon. It is quite impossible bitcoin will general cryptocurrency. Bitcoin is Leading currency so it always lead  others cryptocurrency. Some general cryptocurrency made by some Company and some people and they control it But bitcoin is fully decentralised and no anyone controlling it. And it never possible to control by any people or any government. So many country and their government don't approve Bitcoin. In the last i tell that there has no possibility to be a general cryptocurrency for Bitcoin. It always be a Leading cryptocurrency there has no confusion.

[Plaguedeath]

If you asking a possibility, the answer is always yes because Bitcoin can be used to store a value or currency and no one can hack Bitcoin.

But the possibility is very low because the government can't 100% control all of Bitcoin and there are still many countries ban Bitcoin. Only few countries are accepting Bitcoin as a currency, so it's still a long path for Bitcoin to become the global reserve currency.

[Wend]

Even becoming a currency, a payment method is difficult, becoming a general currency of the world is even more impossible. Indeed, given bitcoin's volatility, I find it more suited as an investment asset than a currency. Not to mention, it is a decentralized asset, so governments would never accept a currency they cannot control as the world's general currency. I don't know if the future will change, but based on what's happening, I don't think bitcoin will be the currency.

[BD Crypto]

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?

We can't say actually about the future of Digital Currency like Bitcoin. Because to be a general currency Bitcoin needs to be legalized by every government and mass adoption needed.
But practically almost every governments are against of it. As it's decentralized so no one can stop using Bitcoin. So it needs pretty much time to be a general currency in the future and it's uncertain too.
But I think most of the governments will be against Bitcoin because government will lose controls, problem with tax regulations and funding for crimes.