Bitcoin Become Currency of Nations in 10-15 Years

[fathafraink]

Maybe you ever thought that Bitcoin will be the Future currency in entire World or Nations, So I believe that it will be like the way you are thinking of. So what is the reason, and how could it be ?. Here I will explain it to You, Guys.

¹ Bitcoin is Anti FUD

I believe that Bitcoin is The Future of currency, Why? Because Bitcoin has been proven to be a crypto coin that survives from various FUDs, no other coin or currency is subject to FUD as badly as Bitcoin. However, the price is still going up. So, it's proven to be Bitcoin FUD proof.

Then, Bitcoin survives various regulations. No other currency or asset is threatened with various regulations like Bitcoin. Has this Bitcoin been threatened with any FUD? Starting from regulatory issues, prohibited trading, prohibited from playing links, environmental issues, CBDC, Altcoins. What it is want to be threatened with? So, America itself has also reduced its opposition to Bitcoin, because they know that the only way to kill Bitcoin is to shut down the worldwide internet. Which is very impossible. History proves that Bitcoin is regulation proof.

Bitcoin has also survived heated regional political conditions. When in Venezuela, there was hyperinflation, the value of the currency is trash. When Myanmar's political conditions heat up, the value of its currency decreases. When Afghanistan was taken by the Taliban, the value of its currency may no longer exist. Those who store their assets in Bitcoin, stay safe. History proves, Bitcoin is Political Turmoil proof. Okay, next Bitcoin marketcap is getting bigger and bigger. And it's not easy to play the bigger Bitcoin market, unless there is an agreement or insider trading that is really controlled.

² Bitcoin is Anti Whale

We should know that there's a super big Global conspiracy at play,but I think they don’t play in the Bitcoin market, Why ?, because it is very difficult and the funds required are very large, Because the market is the world. Playing the world market is not easy, because there is an alternative that is much easier, which is better if I am a whale I prefer to play at shit coin markets where the market cap is still small. If you make a profit, you can later exchange it for Bitcoin or Fiat. Bitcoin is Anti Whale, I mean whale proof.

³ Bitcoin Roadmap to be the World Currency

Maybe you may still not be aware, if this Bitcoin has a bumper that makes its value cannot be zero. The number of coins lost is estimated to be 30 to 50% of coins lost for various reasons, like; someone forgot their keyfreeze, their hardware wallet was thrown away, the owner died suddenly, and so on. The lost coin cannot be Transacted, cannot be Sold, and even can’t be Printed or Minted again, the maximum is still only 21 million coins, and this amount is not enough if it is distributed evenly to everyone. Bitcoin is impossible to zero, Bitcoin is inflation proof, Bitcoin also allows us cross-country transactions.

Cross-country transactions before crypto existed were very complicated, especially if the numbers are big. But, now you don't have to worry anymore, we can use Bitcoin to send funds to each other, Bitcoin is a borderless currency. Now, it's just a matter of time for Bitcoin to be accepted by the wider community, When is it? My guess is 10-15 years from now. 10-15 years from today, Why 10-15 years? Because it need takes a new generation to accept this technology without question, Like we used to be when we were born into the world we became adults and we have never questioned why the dollar has become the world's currency, We also never asked, Why money is in the form of paper, Why not cloth or stone? The next generation will not ask a question in detail Why money is digital ?, Why Bitcoins? What is Bitcoin's underlying asset?. The next generation, like it or not , just accept it. Like us, like it or not , just accept fiat currency. But when it comes to the underlying assets, there are many who are sarcastic;
Bitcoin is a currency or asset that does not have an underlying asset, that means, these cynics don't fully understand the history of money, don't understand the difference between currency and money, don't understand the history of the dollar, don't understand Bitcoin, don't know the difference between Bitcoin and other crypto assets, don't understand Blockchain technology, didn't learn the history of currency and gold, forgot or didn't know about the Bretton Woods Agreement and maybe they either don't know or fail to understand what President Nixon had declared in 1960 as I said in my Last Topic in Bitcoin Discussion (Hold Bitcoin vs Hold Gold, and also in Smart Way to Introduce Bitcoin to Relatives,Spouse and Family), So I recommend you to read that topics what I mentioned, So We can learn and discuss together, don’t ever close your eyes to see how the future works.

Okay then, I think that's all. Those are my Reasons of; Why Bitcoin is the Future Currency?

The Summary :
¹ Bitcoin is Anti FUD
² Bitcoin is Anti Whale
³ Bitcoin Roadmap to be the World Currency

Last Topics related to this Topic :

Hold Bitcoin VS Hold Gold
Smart Way to Introduce Bitcoin to Relatives, Spouse or Family

[1715143710]

1715143710

[NeuroticFish]

² Bitcoin is Anti Whale

Nice essay, I didn't read it entirely since it's a bit long, however, what you've wrote may not be complete or entirely true, unfortunately.
For example I expect the whales work on more fields, not only actual market, i.e. also spreading FUD and taking advantage of actual real news. Then they do have a chance to affect the market (a little, only for rather short periods of time, but still....).
Plus, the fake volumes the exchanges still report can easily cover inside jobs and I see exchanges a special class of whales.

So it's nice to have essays telling great things about bitcoin, but we're still early, still poorly regulated (which is both good and bad), hence it's not everything that nice. Not yet.


Still, the conclusion is good. Bitcoin can become the (reserve?) currency of the world in the not-too-far future.

[kryptqnick]

Here's a summary for those who don't want to focus on the op's long read:
1. Bitcoin survives FUD, regulations, can help in critical situations when local fiat is rapidly losing value.
2. Bitcoin's price isn't manipulated because that would require immense funds and would be difficult to achieve.
3. Bitcoin is scarce and thus won't go down to zero, and it's also borderless and thus useful for international transactions. The next generation (in 10-15) will simply accept Bitcoin as a global currency and won't question it.

And now to my opinion about it: while Bitcoin seems to recover from FUD and strict regulations, it can also easily lose more than half of its value and remain in that state for a few years. That is a big problem when countries rely on the stability of the value of their reserves. I agree that Bitcoin can be very helpful in situations of hyperinflation, but these are local issues that many people (most people) aren't affected by. I also agree with the second point, but some can frame it very differently as a disadvantage: BTC price is out of anyone's control, while many rely on a strong country impacting its fiat to ensure its stability. As for scarcity, it just doesn't work like that because aside from scarcity, there also needs to be a demand. I don't think Bitcoin will go down to zero, I just don't think that the limited total cap is what guarantees it.
It's an interesting text, but I think that the global politics relies on interdependencies and exercising control, which is why I think Bitcoin won't be the top international currency in 10–15 years (beating fiat).

[ImThour]

Whales never buy all-in at once. They have a strategy which allows them to acquire Bitcoins worth of millions without you realizing they did, even if they wanted to buy Bitcoin at the current market price, they will as they know their buying's will surely drive the price up of the Bitcoin, so nothing wrong with that too.  I would love if my country accepts Bitcoin or mostly all the crypto payments however I think companies like Apple and Google should be the one integrating it directly to our phones.

[GreatArkansas]

I am thinking that even though Bitcoin will become the currency of most nations in the future, the traditional currency we have now will still exist. What I can see is Bitcoin will just be an alternative.
World currency, yes, I agree here and support it because we all know Bitcoin is already doing it and it's really how Bitcoin works right now.

[yahoo62278]

So it's nice to have essays telling great things about bitcoin, but we're still early, still poorly regulated (which is both good and bad), hence it's not everything that nice. Not yet.


Still, the conclusion is good. Bitcoin can become the (reserve?) currency of the world in the not-too-far future.

Unfortunately I feel like the government(at least in some areas) is not going to allow Bitcoin to become a main currency until they figure out how to tax the fuck out of it. They'll impose loads of regulations and make sure they get a big chunk of every transaction.

[NeuroticFish]

Unfortunately I feel like the government(at least in some areas) is not going to allow Bitcoin to become a main currency until they figure out how to tax the fuck out of it. They'll impose loads of regulations and make sure they get a big chunk of every transaction.

I think (or hope?) that at some point the commercial banks will use bitcoin as reserve (replacing gold or together with gold) and their powerful lobby will go in our favor.
Then Bitcoin will get the path clear for becoming the reserve asset, as a firs step. Then, as a second step, the reserve currency, because the countries will start fearing of entities like SWIFT that can be used as weapons.

[so98nn]

Oh damn I think I believe Bitcoin neither Anti FUD nor Anti Whale or whatever Anti it might be. The problem is, every currency proves itself now and then. Whether it is fiat or digital crypto based currency both the world see worst downfall in terms of valuation. In fact fiat has seen worst of all. The economical crisis that too on global levels. Disastrous inflation, uncalled debts and much more. However, fiat has always stabilised itself over the course of time. I am not saying fiat is best, but what I’m mentioning is fiat is also Anti to all crisis that may come across. Bitcoin isn’t full proof either. It has also seen downfalls, whales manipulation and FUD.

[Lorence.xD]

Whales never buy all-in at once. They have a strategy which allows them to acquire Bitcoins worth of millions without you realizing they did, even if they wanted to buy Bitcoin at the current market price, they will as they know their buying's will surely drive the price up of the Bitcoin, so nothing wrong with that too.  I would love if my country accepts Bitcoin or mostly all the crypto payments however I think companies like Apple and Google should be the one integrating it directly to our phones.

Exactly, every whales has group which have a plan to manipulate the market for their own benefits. One thing you can do in this situation is to take advantage of the current situation as they trying to influence the market. It's either join the ride or watch them pump.

In my country, there's a digital app that everyone use for every transactions. With that being popular they are already implementing luttle by little to introduce crypto as they start at investments.

[SeriouslyGiveaway]

1. Bitcoin is Anti FUD
2. Bitcoin is Anti Whale
3. Bitcoin Roadmap to be the World Currency

All of three big points are not true.

1. Bitcoin is not anti FUD and you can see many times Bitcoin has big crashes. It is not anti FUD if you look with a view from a market price.

If you look at engaged factors, Bitcoin is not anti anything and not anti FUD. Bitcoin is just Bitcoin and be itself. The factors affected by FUD is people who join the market but can not control their emotion, psychology and can not keep up their belief, plans and actions and get affected by FUD.

2. Bitcoin is Anti Whale
Not true because whales are market makers. In all market, we all have market makers, whales who play their games and steal money from unintelligent investors, traders to their pockets.

3. Bitcoin is not designed to be a world currency not it will not be like that.
It will be used by more people globally but will not be a world currency or a new standard in world economy like gold standard or USD standard.

When you amplify the beauty and power of Bitcoin, you only make more people hate Bitcoin.

[NeuroticFish]

All of three big points are not true.

It greatly depends whether you look on short term or on long term (4 year cycles, at least).
On short term, a lot of things get significance, but only the day traders feel that. On long term, .. all those problems are just noise.
Of course, OP's essay is somewhat generic and everybody will see cracks in his logic, depending on their own short term experiences.

[Faisal2202]

Bitcoin is Anti FUD
I believe that Bitcoin is The Future of currency, Why? Because Bitcoin has been proven to be a crypto coin that survives from various FUDs, no other coin or currency is subject to FUD as badly as Bitcoin. However, the price is still going up. So, it's proven to be Bitcoin FUD proof.

you should not call Bitcoin as Anti fud because it is not, we all know FUDs are for shorter period of time and people gets to know the truth about FUD slowly slowly. Which means, we can say FUD do comes in BTC but for shorter period of time, like when Elon Musk sells of his BTC investment back in 2021, and said they are not going to accept BTC as payment method for Tesla and then market take a downtrend and after that they make another announcement of accepting BTC for payment method and still in the time many said, elon has sold his BTC reserves but they made several statements that they didn't sold any.

The point is, you should right this heading as Bitcoin is best source for storing value for you money.

Bitcoin is Anti Whale
Bitcoin Roadmap to be the World Currency

Well, i admire your efforts and yet let me tell you that why BTC can not be accepted worldwide despite the fact of current favors from governments, BTC blockchain technically is not capable of processing all the transactions from worldwide, as you mentioned in your 3rd point that how BTC a roadmap, but still it need technical developments to process the millions of transactions if it got accepted a world currency which is not near. You could take an example of recent load on Btc blockchain from Ordinals. You must be aware of the congestion that it made and how it affected the fee.

[Helena Yu]

Unfortunately I feel like the government(at least in some areas) is not going to allow Bitcoin to become a main currency until they figure out how to tax the fuck out of it. They'll impose loads of regulations and make sure they get a big chunk of every transaction.

It's simple, the government just need to create their own exchange and force all of their citizens to use their exchanges as a wallet and exchange in the same time. Make sure every customer must verify their KYC, so the government can track every citizen wealth.

The next thing is declare for not using other Bitcoin exchange or wallet, use privacy related service e.g. DEX or mixer. Although some people will still use it, but most of people already get tracked by the government.

[DooMAD]

Nation states wouldn't know how to cope if they couldn't print money from thin-air.  Some countries may legalise Bitcoin as a currency, or even make it legal tender.  However, I can't see, in my lifetime at least, that they'll ever give up debt-based money entirely.  Every country on Earth has built their economy on the fundamental basis that banks can create new money, but that's not something they can do in Bitcoin.  They wouldn't be able to set interest rates if they only used Bitcoin, because you need debt-based money to do that.  Every last element of control they can leverage over their economy would vanish completely.  What government would want that?    

[vv181]

Now, it's just a matter of time for Bitcoin to be accepted by the wider community, When is it? My guess is 10-15 years from now. 10-15 years from today, Why 10-15 years? Because it need takes a new generation to accept this technology without question, Like we used to be when we were born into the world we became adults and we have never questioned why the dollar has become the world's currency, We also never asked, Why money is in the form of paper, Why not cloth or stone? The next generation will not ask a question in detail Why money is digital ?, Why Bitcoins? What is Bitcoin's underlying asset?. The next generation, like it or not , just accept it. Like us, like it or not , just accept fiat currency. But when it comes to the underlying assets, there are many who are sarcastic;

Everyone is welcome to speculate, but surely that is a flawed one. Expecting a currency that is built and enforced based on ignorance is simply without a doubt an absurd take. Bitcoin can not be easily controlled and flexed to adjacent with what the government needs. And the government have no strong motive to apply and enforce a currency(system) that is inherently beyond their control.

15 years is also a rough estimation that does not consider the technical capabilities of Bitcoin to handle such a scenario. We don't know for sure the adoption rate, conveniences, and scalability it would be capable of.

[Bananington]

More countries are considering it as an option but the issue they all seem to have is more about the taxing.
The government in many of our countries see the bad use of it, like to sponsor terror, and that's why U.S is strongly among nations contesting to regulate and tax BTC properly.
In 10-15years time? BTC would have gained much more audience and adoption. People are waiting to see how the halving plays out. If all goes well more users trust would be gained and the boom will accompany more investors.

A country like El Salvador is an example for the world to use incase a mentor state is needed to profer guidance and tools in form of what to expect and how to adjust kinda technical formality brouhaha.

[ajiz138]

I am thinking that even though Bitcoin will become the currency of most nations in the future, the traditional currency we have now will still exist. What I can see is Bitcoin will just be an alternative.
World currency, yes, I agree here and support it because we all know Bitcoin is already doing it and it's really how Bitcoin works right now.

Traditional currency will not be replaced because the government will definitely defend it, of course, as an alternative, bitcoin can be a companion in the future when the state starts to have it, but I'm not sure bitcoin will become the main currency throughout the world.

I feel that bitcoin will continue to grow rapidly until the government cannot stop its development, on the one hand the community around the world must be big with the use of bitcoin but it is only limited to an investment that is worth more than gold or diamonds, returning to fiat currency will continue dominate even though you know that there is an inflation value.

[Sim_card]

OP, good write up but you know what,bitcoin can never be the world currency in 10-15yrs time because not every part of the world has adopted bitcoin. Bitcoin has been banned in some countries and because bitcoin price is not stable,it will not be accepted by the government. The government are kicking against bitcoin because they were not the one that created it and the decentralization of bitcoin makes it beyond their control and I don't think that any government will love to accept whatever project that the can't access. This is why the governments are fighting to regulate it. Bitcoin was created to be an alternative to fiat and not to get rid of fiat.

[m2017]

So it's nice to have essays telling great things about bitcoin, but we're still early, still poorly regulated (which is both good and bad), hence it's not everything that nice. Not yet.


Still, the conclusion is good. Bitcoin can become the (reserve?) currency of the world in the not-too-far future.

Unfortunately I feel like the government(at least in some areas) is not going to allow Bitcoin to become a main currency until they figure out how to tax the fuck out of it. They'll impose loads of regulations and make sure they get a big chunk of every transaction.

Your post resonates with me in a way. No government will allow this to happen.

Contrary to the rosy statements and opinion of the majority, I believe that bitcoin will never become the currency of nations / the main currency. CBDC is already being prepared for the role of the main currency.

I will say more, bitcoin has already ceased to be like a currency (BTC's share among other currencies is negligible) and is increasingly turning into an investment instrument. I expect that this trend will continue in the future and then, it would be naive to expect to see btc as not only the main currency, but even just as a currency.

As far as governments imposing regulation bitcoin and collecting taxes on every transaction, I absolutely agree. This is inevitable if they come up with a way to implement it.

[hatshepsut93]

That's what people were saying 10-15 years ago. And Bitcoin showed little progress in becoming a popular currency. Its price has skyrocketed and tens if not hundreds of millions own it, yet it's not used as a currency. The main use is being an investment, because it showed great performance in the past. But if for some reason it will stop growing fast, it won't be popular even as investment.

What will change in 10-15 years? A new generation? The current youth is already viewing Bitcoin and crypto only as a method for getting rich quick, they don't care about inflation of fiat currency or financial freedom.

[qwertyup23]

I really doubt that BTC would become the currency for as little of 10-15 years from the future.

Remember that BTC solely exists on the internet. With this, there are many countries who do not have access to basic food and education, let alone the technology to support a cryptocurrency online platform with their designated wallets inside their mobile phones.

In addition, to become the currency of the nation, it must have approval and acknowledgement from all the countries in the world, or else it will prejudice them. There are some countries who prohibit the utilization of such and there are even massive prohibition from its usage.

[_act_]

I am thinking that even though Bitcoin will become the currency of most nations in the future, the traditional currency we have now will still exist. What I can see is Bitcoin will just be an alternative.
World currency, yes, I agree here and support it because we all know Bitcoin is already doing it and it's really how Bitcoin works right now.

The world reserve currencies are not only one, they are many. Example are the US dollar, Pounds Sterling and Euro. What I am trying to say is that the world reserves have alternatives, so if bitcoin become one of the world reserves, it would surely be an alternative. But I think if the world start to use bitcoin like that, a time would come their eyes will open to know that bitcoin can be better than fiats to hold as a reserve because its value in long term increase and the price also proportionately increase.

[Kakmakr]

I think you concentrated on things that has little to zero value, when it comes to the contribution that will help Bitcoin to become a global reserve currency. The perception that Bitcoin is anti-Fud is wrong and we see that when the Bitcoin price takes a dive after something has been published on social media. (true or not)

The main obstacle that Bitcoin have to pass, are government approval ...and that will not happen... until the Fiat currency collapse or during times of hyper inflation. (Example : Zimbabwe)

[LogitechMouse]

I don't know, but is there a time where people are saying that Gold will become a global currency in 10-15 years? Are there some people saying that Gold will be the next global currency just because it is becoming popular? I might not be born when they said it, so if anybody can confirm that would be good.

I said it because many are thinking of Bitcoin as a global currency just because of it becoming more and more popular. I mean look at the negative side of it as well. Yes Bitcoin is for everyone, but can everyone have access to it? Are all the people interested in using it? TBH, there might be some who will just stick to what they know is convenient, and that is to continue to use the Fiat currency.

At the same time, I also don't think that the Governments will allow to happen such thing. Like I'm always saying, governments will use their full power in whatever they want especially the US government, and that includes the current currencies. I guess let's just forget about it. Bitcoin is considered an asset for some other people as well, so Bitcoin becoming a global currency in the next decade might happen, but what are the chances? Close to zero IMO.

[fuguebtc]

I really doubt that BTC would become the currency for as little of 10-15 years from the future.

Remember that BTC solely exists on the internet. With this, there are many countries who do not have access to basic food and education, let alone the technology to support a cryptocurrency online platform with their designated wallets inside their mobile phones.

In addition, to become the currency of the nation, it must have approval and acknowledgement from all the countries in the world, or else it will prejudice them. There are some countries who prohibit the utilization of such and there are even massive prohibition from its usage.

If your concern is just technology or the internet, then there is nothing to worry about as we can see, the internet and smartphones are gaining popularity very quickly. I know there are still some places where the internet hasn't been rolled out yet, but in the next 15 years, I believe the internet will be everywhere in the world.

But I also doubt bitcoin will become the currency of countries, simply because most of them already have their own currency, and they have no reason to get rid of it and replace it with bitcoin, except countries that don't have currencies or countries with high inflation rates. Left, developed countries will never accept bitcoin as a currency, a currency too volatile will affect their economic development.

[jasonjm]

I am thinking that even though Bitcoin will become the currency of most nations in the future, the traditional currency we have now will still exist. What I can see is Bitcoin will just be an alternative.
World currency, yes, I agree here and support it because we all know Bitcoin is already doing it and it's really how Bitcoin works right now.

The likelihood of this happening in the near future is extremely low. There are a few concerns that need to be addressed first. For example, price volatility, risk of investment, and speculations should be addressed before further discussion.   

[Blitzboy]

Bitcoin as the currency of the future? Not too far-fetched. I'm on board with your Bitcoin being Anti-FUD theory. Its weathered numerous regulatory tempests and panic purges, yet it perpetually rebounds

However, I find your "whale-proof" Bitcoin assertion slightly doubtful. Despite a sprawling global market, the big fishes do frequent this sea. Their presence can cause market ripples, triggering erratic price fluctuations. This facet demands a closer look.

You hit bullseye regarding the roadmap. Bitcoin has progressively opened the gates for borderless transactions, placing it as a serious contender for the global currency belt

But one piece of advice, lets not trivialize the road to universal endorsement. Given Bitcoin's fluctuating nature and enduring trust issues, its likely to take more than a generation for widespread adoption. Its a waiting game. The future's a wildcard, and time holds the key.

[Wend]

I am thinking that even though Bitcoin will become the currency of most nations in the future, the traditional currency we have now will still exist. What I can see is Bitcoin will just be an alternative.
World currency, yes, I agree here and support it because we all know Bitcoin is already doing it and it's really how Bitcoin works right now.

The likelihood of this happening in the near future is extremely low. For Bitcoin to become a global currency, stability and trust are essential prerequisites. However, the significant volatility, speculative nature, and security concerns associated with Bitcoin are major factors that need to be carefully addressed in order to gain wider acceptance.

I agree with you, as long as bitcoin has significant volatility and remains a speculative asset, it will not be the currency of the world even if it were an alternative to fiat. Bitcoin would be the currency if it could become more stable, but that would make it impossible for us to profit from it. I don't want to lie, but even I don't dare to use bitcoin as a daily payment method. I don't want to use my bitcoin when I buy it for 30k$ and have to use it when it's 27k$. Who wants to spend more money to buy the same product, but if we use fiat, we won't spend more?

[Z390]

All I know is traditional currencies aren't going anywhere, they will always be in and the only upgrade that could ever happen is the government killing that paper money and digital money is going to be the new way of buying and selling things but, that's why CBDC will eventually become a thing, forget Bitcoin, it's not going to become a currency for any country, it's going to be accepted as an asset or something valuable but it's not going to replace Fiat currencies.

[DooMAD]

I'm going to go a step further and say that most countries would perceive it as a threat to their national security to completely abandon fiat and switch solely to Bitcoin.  

It would effectively replace a central bank (something they have total control and oversight of and every person working for that central bank would be subject to numerous background checks) with a bunch of total strangers situated all over the world, who can't be vetted or directed in any way.  Some likely reside in places a given nation might deem to be a hostile power.  

As Bitcoin users, most of us are okay with that.  But I'm pretty sure governments wouldn't be comfortable with it at all.  When the Venezuelan Bolívar finally collapses entirely, they're 100% going to replace it with another fiat currency.  They need at least some influence over their own economy.

Bitcoin is ideally suited for individuals.  But it's not remotely viable to run a national economy on.  Nations have been running their economies on debt-based currencies for centuries now.  They don't know how to do it any other way.  Neither would they want to relinquish that control.

[KiaKia]

It could happen, but the possibility is very small because the currency was not built by the government, it's going to be hated on for a long time because the government can't control Bitcoin, that's why Bitcoin is more of an asset to them than anything else.

This could be why the ETF will get approved this time too, so sorry to ruin your dream, Bitcoin isn't going to do so well for a centralized world, 99% of the world could get into Bitcoin because it can make them money, but not for using as everyday currency for means of payment. This shit worth a lot man, worth more than Gold.

[taufik123]

It could happen, but the possibility is very small because the currency was not built by the government, it's going to be hated on for a long time because the government can't control Bitcoin, that's why Bitcoin is more of an asset to them than anything else.

Bitcoin is only seen as a digital asset that cannot be controlled by the government. If it were to be adopted, it would still not have full control.
To be a substitute for Fiat alone is still very improbable at this time.
But who knows in the future, maybe government regulations will change to follow more modern times.

This could be why the ETF will get approved this time too, so sorry to ruin your dream, Bitcoin isn't going to do so well for a centralized world, 99% of the world could get into Bitcoin because it can make them money, but not for using as everyday currency for means of payment. This shit worth a lot man, worth more than Gold.

Becoming an everyday currency for payment is still very difficult for countries that do not provide full regulation of Bitcoin.
Like El Salvador, Bitcoin payments are only a second option and some do pay with Bitcoin or Fiat.

Nonsense or not, Bitcoin still needs to be developed, there will be many surprises in the future.

[tjtonmoy]

¹ Bitcoin is Anti FUD
² Bitcoin is Anti Whale
³ Bitcoin Roadmap to be the World Currency

FUDs can heavily affect the Bitcoin market and sometimes to the extreme. But the effect lasts for a very short time. So saying that Bitcoin is FUD proof is not totally correct. However, this happens in a short period of time as the effect is temporary. So if we consider the long-term picture, it could be true but not entirely.

Bitcoin is anti-whale? Not true. Whales operate in a very different strategy. 1% price movements can give them huge profits, so they choose the safe option and make profits on a large scale because their investment plan is with large assets. Imagine you are investing $100 and a whale is investing $1000000. Small movements will give them huge profits and you will make profits in cents. Also, they invest in other sections and not just in trading. Market manipulation is possible if whales want it. But they will have to join hands in order to make a large impact. One whale alone can't make much difference. So I don't agree with you on this.

Roadmap to world currency? Yeah maybe, but not as fast as you are saying. Bitcoin is still under development and market volatility will remain the same. For a long time at least. After that, maybe Bitcoin will become somewhat stable and governments all over the world may consider using it in mass. That's a story for the far future.

[BitcoinPanther]

Here's a summary for those who don't want to focus on the op's long read:
1. Bitcoin survives FUD, regulations, can help in critical situations when local fiat is rapidly losing value.

Surviving FUD does not mean it is Anti-FUD.  It may develop resistance to FUD but Bitcoin can't do anything to minimize that FUD attack on its market.

2. Bitcoin's price isn't manipulated because that would require immense funds and would be difficult to achieve.

Once in a while, Bitcoin market are being manipulated by people who have either the authority like the government, those who have huge amount of Bitcoin holdings and huge cash, and influencial people.  I do not know why @OP stated that Bitcoin is anti-whale when in fact there are lots of whale within the Bitcoin community.

3. Bitcoin is scarce and thus won't go down to zero, and it's also borderless and thus useful for international transactions. The next generation (in 10-15) will simply accept Bitcoin as a global currency and won't question it

.

Bitcoin had been a legal tender in some countries but I am still hesitant that it will be accepted as official currency of a nation.  The main reason is that the government wanted control but Bitcoin can't be controlled.

[_BlackStar]

All I know is traditional currencies aren't going anywhere, they will always be in and the only upgrade that could ever happen is the government killing that paper money and digital money is going to be the new way of buying and selling things but, that's why CBDC will eventually become a thing, forget Bitcoin, it's not going to become a currency for any country, it's going to be accepted as an asset or something valuable but it's not going to replace Fiat currencies.

Bitcoin will not replace fiat currency and nor will bitcoin replace fiat as a whole. Bitcoin are an alternative currency that you can use anytime - there are no restrictions and you can send them instantly without requiring government approval or special authorities.

So far several countries have also adopted bitcoin as currency - but the use cases may not be as envisioned. El Salvador is one of the most magnificent about the adoption of bitcoin as a currency - but there are many Salvadorans who do not use bitcoin as a means of payment.

[fathafraink]

Nice essay, I didn't read it entirely since it's a bit long, however, what you've wrote may not be complete or entirely true, unfortunately.
For example I expect the whales work on more fields, not only actual market, i.e. also spreading FUD and taking advantage of actual real news. Then they do have a chance to affect the market (a little, only for rather short periods of time, but still....).
Plus, the fake volumes the exchanges still report can easily cover inside jobs and I see exchanges a special class of whales.

So it's nice to have essays telling great things about bitcoin, but we're still early, still poorly regulated (which is both good and bad), hence it's not everything that nice. Not yet.


Still, the conclusion is good. Bitcoin can become the (reserve?) currency of the world in the not-too-far future.

First, I really appreciate for your reply about this topic and Thanks for your opinion. But, regarding to the whales try to manipulate the market, I didn't mean for the short time but it's like six month or 1 year. Hope you understand about it.

Here's a summary for those who don't want to focus on the op's long read:
1. Bitcoin survives FUD, regulations, can help in critical situations when local fiat is rapidly losing value.
2. Bitcoin's price isn't manipulated because that would require immense funds and would be difficult to achieve.
3. Bitcoin is scarce and thus won't go down to zero, and it's also borderless and thus useful for international transactions. The next generation (in 10-15) will simply accept Bitcoin as a global currency and won't question it.

Great Thanks for your help by adding the summary be detailed. I think it's really helpful for us, and love the way how you detailed the Main title for Summary.

Whales never buy all-in at once. They have a strategy which allows them to acquire Bitcoins worth of millions without you realizing they did, even if they wanted to buy Bitcoin at the current market price, they will as they know their buying's will surely drive the price up of the Bitcoin, so nothing wrong with that too.  I would love if my country accepts Bitcoin or mostly all the crypto payments however I think companies like Apple and Google should be the one integrating it directly to our phones.

Could you describe at least a little strategy that the Whales have to acquire Bitcoins worth of millions, so we have some insights. But as I said before, it's for a long time ( about 1 year ), and not for a short time. We know that whales could manipulate Bitcoins by playing in the Future Markets that has Leverages. It should be for all country accepting Bitcoin as a legal payments so I think it could help the future works faster, but, again and again, political acts often disturbing Bitcoin for benefit itself.

I am thinking that even though Bitcoin will become the currency of most nations in the future, the traditional currency we have now will still exist. What I can see is Bitcoin will just be an alternative.
World currency, yes, I agree here and support it because we all know Bitcoin is already doing it and it's really how Bitcoin works right now.

Yes, the traditional currency we have now is still and will exist and it just a matter of time to take Bitcoin as Currency inspite of as alternative currency as you Said. But there is a possibility that Traditional Currency will be abandoned or even vanished, We know a fact that there was a currency that has no more value in a country.

All of three big points are not true.

It greatly depends whether you look on short term or on long term (4 year cycles, at least).
On short term, a lot of things get significance, but only the day traders feel that. On long term, .. all those problems are just noise.
Of course, OP's essay is somewhat generic and everybody will see cracks in his logic, depending on their own short term experiences.

Really helpful, you really got my point @SeriouslyGiveaway. Your answer is describe what I meant for this topic, @NeuroticFish should read this. Because We know that for a short time Bitcoin could be manipulated by Whale that it has an impact, and not for a long time ( like for 1 year or more), and one think you should know that every halving event in Bitcoin couldn't be manipulated by Whale for the Price (Bitcoin price), Bitcoin Price has always raise up every near to or in the Halving day (Event)

Oh damn I think I believe Bitcoin neither Anti FUD nor Anti Whale or whatever Anti it might be. The problem is, every currency proves itself now and then. Whether it is fiat or digital crypto based currency both the world see worst downfall in terms of valuation. In fact fiat has seen worst of all. The economical crisis that too on global levels. Disastrous inflation, uncalled debts and much more. However, fiat has always stabilised itself over the course of time. I am not saying fiat is best, but what I’m mentioning is fiat is also Anti to all crisis that may come across. Bitcoin isn’t full proof either. It has also seen downfalls, whales manipulation and FUD.

Not every fiat is always stabilished, in 1998, in Indonesia, There was an unforgetable crisis that made IDR or Indonesian Rupiah decreased deeply for it's value. So I think that Bitcoin has more Possibility to be a solution for a problem like I said that happened on that country, and I really love if Bitcoin will be alternative currency for the solution.

[Chukwudumaga]

Bitcoin is promising in all aspects, but governments around the world are against it. Because they are realizing that if Bitcoin is approved, it could bring major disruption to the existing financial sector. Governments refuse to allow the use of Bitcoin for a number of reasons. One of the main reason Bitcoin is unregulated and the government is completely unable to regulate it. Moreover, the governments have not yet discovered any form of how to receive taxes. For all these reasons, nothing can be said in detail yet. But the widespread use of cryptocurrencies will certainly put pressure on governments to figure out those aspects.

[worle1bm]

I am thinking that even though Bitcoin will become the currency of most nations in the future, the traditional currency we have now will still exist. What I can see is Bitcoin will just be an alternative.
World currency, yes, I agree here and support it because we all know Bitcoin is already doing it and it's really how Bitcoin works right now.

The usage for fiat currency will go down but it will not vanish completely as it's the main source of monetary transactions in every country having faith of public.With more digitalized ways the currency will also be in that form but  will still be in usage even after losing its value overtime.On the other side the adoption rate and usage for currency like btc will go up as nations accept it and regulations are made for the usage but as you know the governments will never let only btc grow with losing control over fiat.

[crypticj]

No, unfortunately, it's not.

There is no reason for Bitcoin to become a real currency. It was created for that, yes, but it doesn't have any quality currency needed to possess.

Bitcoin is not stable, and won't be. The currency that is highly volatile won't be used by people if there will be a more stable alternative, even USD with 5% inflation. It's still better than the 5% inflation per day that Bitcoin can randomly show.

Also, the government won't allow it. People are not treating Bitcoin as money, but as an asset, so the government can regulate Bitcoin as an asset, not as a currency, and people still would be happy with that.

So I don't see any reasons why and how Bitcoin will become money.