The possibility of bitcoin becoming a global currency.

[joniboini]

The government will need money anytime for the running of the economy. If such fund is needed when the bitcoin is in the bear market, it will be disastrous. In the other hand, will government need to wait till bull run before they can start using funds?
The volatility of bitcoin disqualifies it from being a reserve to the government fund.

I can see your point, but isn't that the goal of this study? I doubt they'd go all-in and ignore the risk when volatility hit their assets. They are probably going to measure how much volatility they can take. After that, they can discuss and calculate how much holding can they take assuming the volatility will hit them again. You can also assume the opposite, if they manage to time their exit properly then the holdings might result in a net positive.

Yes, we will talk about long-term investment, but the logic, it seems to me, for state funds should be close to that for corporate funds.

Yeah, I can see that. I'm not sure how the study will affect the perception of crypto if some of the government bodies don't really want to learn something new though. Hopefully, they are not as old-fashioned as some government bodies out there.

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[yhiaali3]

Although Bitcoin has advantages that make it superior to any fiat, it is difficult for Bitcoin in its current situation to be a global currency used to pay instead of the dollar for several reasons, including the high fluctuations in price and congestion on the network.

Bitcoin provides the advantages of decentralization and is not linked to any economy, country or entity, but at the same time the unified global currency needs to be stable so that it can be used in international financial transactions.

The big problem is congestion. We have recently seen how crowded the network has become, delays in sending transactions, and high fees. In the case of global adoption, this will be the biggest problem.

[rby]

With the reality of wealth being amassed through bitcoin overtime by so many individuals globally,i see bitcoin taking over  or becoming a global currency.
This for me of course may take time to happen, with the right education in the heart of the old and young old and young which of course is not an easy task but give it time it can be  possible.

What is your take on this?

Bitcoin had a bright future and it has the ability to attain mass adoption in the nearest future but not to become global reserve. There are reasons I think that bitcoin may never become the world reserve currency.

• Volatility:

A currency that is to be depended on by many countries should be somewhat stable, such that it can easily scale in the forex. If bitcoin in its present form is used in the forex, there would be so much fluctuations in the price of goods.

• Control:

A reserve currency needs to be as decentralized as bitcoin. But with the economic conspiracy and battle for control, so many powerful countries will not endorse what they will not control or atleast manipulate.

• Privacy:

With blockchain, every bitcoin transactions and holdings is naked. Apart from the world reserve something, I wouldn't even advise that the financial status of my country be known with a click on the internet.

I support mass adoption which would stablize the price a bit and bitcoin will soar the more.

[Bushdark]

Although Bitcoin has advantages that make it superior to any fiat, it is difficult for Bitcoin in its current situation to be a global currency used to pay instead of the dollar for several reasons, including the high fluctuations in price and congestion on the network.

Bitcoin provides the advantages of decentralization and is not linked to any economy, country or entity, but at the same time the unified global currency needs to be stable so that it can be used in international financial transactions.

The big problem is congestion. We have recently seen how crowded the network has become, delays in sending transactions, and high fees. In the case of global adoption, this will be the biggest problem.

I do see Bitcoin as more of an asset than a currency because of it volatility and how frequently one can earn from the market either by trading or investing by holding it for as long as possible as we want. Bitcoin is nit just an asset but a great one that has the capacity of making us very wealthy.

Those who know the secret and how to earn from the Bitcoin market had been earning some crazy amount from the market due to there risky free attempt not minding what the public think about this great cryptocurrency. It is always wise for us to make decisions that will give us some tangible profits in the future even though the gain will not come now that we needed it or are attempted to earn quickly as possible as we want.

It is good when we invest in an asset that will give us good evening in the future making us superior than the people that are after earning immediately in the market. Bitcoin is a good asset and I see it as a great investment if we are able to stay calm and ready to be patient enough to earn well from the market. It will be very difficult for Bitcoin to be used a currency because of the volatility.