Bitcoin as world Currency

[Btcdeybodi]

What are the possibilities of Bitcoin becoming the central world   currency .
I feel strongly that Bitcoin will be more used and accepted than even Dollars.  
With the fast growing rate of Bitcoin in the world what are you taught's and opinions ? Kindly share

Remember that the value of bitcoin is still calculated in dollars, even if bitcoin becomes a legal tender world wide, the dollars will still exist. However, bitcoin is not in a competition with the dollars, it was created in its unique ways and perhaps, bitcoin is a digital asset while the dollars in a Fiat currency so the difference is clear. The possibility of bitcoin becoming the world central currency will surely depend on the level of adoption and if majority of the countries in the world accepts it as a reserve currency.

[Ndabagi01]

What are the possibilities of Bitcoin becoming the central world   currency .
I feel strongly that Bitcoin will be more used and accepted than even Dollars. 
With the fast growing rate of Bitcoin in the world what are you taught's and opinions ? Kindly share

Bitcoin may be fast growing and looks like going to replace the fiat system but I still see a lot of reasons for that not happening. This is the government owned currency we are talking about, they won’t stoop so low to see their currency being outperformed by another currency without them having to get any benefits from it. It was never meant to replace the fiat but to serve as an alternative to it. Although, the government may also be seeing it as a threat even though it is being used as an alternative to the fiat currency. Bitcoin technology has so many distinct from the fiat currency which makes it a more reliable and more useful form of currency to use that the fiat.

[Coyster]

I feel strongly that Bitcoin will be more used and accepted than even Dollars. 

That is not going to happen and there is no problem about that. Bitcoin cannot replace the U.S. Dollar as the world's reserve currency, bitcoin is an alternative currency that is decentralized and digital, and there is no way for a decentralized currency to be the world's reserve currency.

Bitcoin is doing just fine as an alternative currency and it is for people who want to be their own bank and use a currency without any third party control.

[Baofeng]

I feel strongly that Bitcoin will be more used and accepted than even Dollars. 

That is not going to happen and there is no problem about that. Bitcoin cannot replace the U.S. Dollar as the world's reserve currency, bitcoin is an alternative currency that is decentralized and digital, and there is no way for a decentralized currency to be the world's reserve currency.

Bitcoin is doing just fine as an alternative currency and it is for people who want to be their own bank and use a currency without any third party control.

And it might be good for us if Bitcoin will remain as is, no control, no central authority, borderless. Unlike the regular fiat or the USD that has been tainted. So for me it's better this way, as we are doing fine and we Bitcoiners can used it whatever and whenever we wanted.

Who knows, maybe if it become a world currency the price is going to be stable? And there could be a lot of chances and regulations will be tougher. So if there are individuals who see Bitcoin as a currency then used it that way. If there are here and for sure most of as looking at it as investment and store of value, then go. Let the US dollar flourish as it was designed to be like to become the world currency no matter what BRICS has to say about that.

[Smack That Ace]

It's going to be a difficult to embrace though but it is still very much possible. Most countries are yet to embrace it to be used in their countries. They have banned it and making it difficult for their citizens to use it.
But if world power countries will begin something significant about the use of Bitcoin then the rest of countries would have no other choice than to accept and use it. By that the Centra banks would also look for ways that would make Bitcoin fit into their policies and make use of it.
Bitcoin as the world currency is still very much possible though it could seem hard at this point

That is even more unlikely. Like the US, they would not be stupid enough to turn Bitcoin into a currency to compete directly with the USD and weaken the USD, that would be like shooting themselves in the foot. Likewise, China is trying to push the world to use the yuan because that is how they can increase their influence in the world. They are also not stupid enough to accept and promote a currency that they do not control and does not benefit them.

Every country has its own currency and they all want it to be the world currency because that is how they rule the world, they will never care or let a currency that is not under their control become the world currency.

[lizarder]

What are the possibilities of Bitcoin becoming the central world   currency .
I feel strongly that Bitcoin will be more used and accepted than even Dollars. 
With the fast growing rate of Bitcoin in the world what are you taught's and opinions ? Kindly share

Being more widely used and accepted than the dollar does not mean that Bitcoin will become the world's currency, that is completely different even though if asked almost most people in the forum agree if that happens. Bitcoin is still an alternative and is still used as an investment asset even though now there are several institutions and companies that have accepted payments using Bitcoin. To achieve a step towards the world's main currency, many things are needed and it is not easy for Bitcoin to reach that stage in the near future.

Talking about financial regulations, each country is different, let alone when it comes to the world's main currency. The process has not yet reached that level so that Bitcoin is still an alternative that can be used by most people for investment or transaction tools in a limited scope.

[betswift]

Not everyone is going to for BTC, it's as obvious as day.

And BTC is not ready for such a feat yet - maybe, in the distant future, some factors would change and we would speak differently about such a possibility, but not in the upcoming decade or so for sure.

[yudi09]

What are the possibilities of Bitcoin becoming the central world   currency .
I feel strongly that Bitcoin will be more used and accepted than even Dollars. 
With the fast growing rate of Bitcoin in the world what are you taught's and opinions ? Kindly share

The worst possibility is that no one uses fiat money anymore because it is very much helped by the speed of the Bitcoin transaction system throughout the world where full control is owned by the owner and does not require a third party so that the government can no longer get benefits like banks and other processes.

Another possibility is that people can use Bitcoin as an investment asset without having to worry about a decrease in value.
Is that possible?

[BITCOIN4X]

~Snip

Being more widely used and accepted than the dollar does not mean that Bitcoin will become the world's currency, that is completely different even though if asked almost most people in the forum agree if that happens. Bitcoin is still an alternative and is still used as an investment asset even though now there are several institutions and companies that have accepted payments using Bitcoin. To achieve a step towards the world's main currency, many things are needed and it is not easy for Bitcoin to reach that stage in the near future.

Talking about financial regulations, each country is different, let alone when it comes to the world's main currency. The process has not yet reached that level so that Bitcoin is still an alternative that can be used by most people for investment or transaction tools in a limited scope.

Without realizing it, bitcoin has actually become a world currency even though it is not recognized in the regulations of some countries. I mean, bitcoin can be used anywhere to buy anything in various countries, it's just that regulations still don't allow it to be used legally. Illegally, you can use bitcoin as a means of payment, but you will be called a lawbreaker.

Bitcoin is still as good as it is today without replacing existing means of payment. Bitcoin and fiat can coexist because that way users have the option of which one they want to use. To use bitcoin as a means of payment, someone needs to buy bitcoin first and then transact it, unless they have already bought it from the start. In such cases, bitcoin will be considered an alternative instead of the primary means of payment.

[justdimin]

bitcoin has actually become a world currency even though it is not recognized in the regulations of some countries. I mean, bitcoin can be used anywhere to buy anything in various countries, it's just that regulations still don't allow it to be used legally. Illegally, you can use bitcoin as a means of payment, but you will be called a lawbreaker.

Bitcoin is still as good as it is today without replacing existing means of payment. Bitcoin and fiat can coexist because that way users have the option of which one they want to use. To use bitcoin as a means of payment, someone needs to buy bitcoin first and then transact it, unless they have already bought it from the start. In such cases, bitcoin will be considered an alternative instead of the primary means of payment.

Yeah, it is not a world currency perse in the sense that we use it all over the world, but it is a world currency in the sense that we invest into it all over the world. Almost every nation (or at least all the ones I know) allow people to invest and own it, and that is more than enough to make it a world renown asset, and that is what we needed, we should be happy about it.

I understand things may not be all that simple for the time being, but we are not going to have any troubles for the long term. If we can make it work for now, it is not going to be a big deal and can make it work further. If you want to move further with it, you could make it work some other time and do a great job of it as well.

[Marvell1]

Without realizing it, bitcoin has actually become a world currency even though it is not recognized in the regulations of some countries. I mean, bitcoin can be used anywhere to buy anything in various countries, it's just that regulations still don't allow it to be used legally. Illegally, you can use bitcoin as a means of payment, but you will be called a lawbreaker.

Bitcoin is still as good as it is today without replacing existing means of payment. Bitcoin and fiat can coexist because that way users have the option of which one they want to use. To use bitcoin as a means of payment, someone needs to buy bitcoin first and then transact it, unless they have already bought it from the start. In such cases, bitcoin will be considered an alternative instead of the primary means of payment.

If you put it that way, all coins are world currencies, not just bitcoin. Even according to some reports, stablecoins are being used the most in commercial transactions, payments. Is it a world currency? I don't think so.

To me, if we still can't use it legally to pay our daily bills and can't use it everywhere in the world like USD. It is not a world currency.
We don't have to force ourselves to think that way, we should accept the fact that bitcoin cannot become a currency, let alone the world's currency. Bitcoin has been and is being recognized and used as an asset, a store of value.

[Callido]

What are the possibilities of Bitcoin becoming the central world   currency .
I feel strongly that Bitcoin will be more used and accepted than even Dollars. 
With the fast growing rate of Bitcoin in the world what are you taught's and opinions ? Kindly share

The possibility does not look like it will happen. This must have crossed the minds of many Bitcoin enthusiasts, it is likely that Bitcoin will become more used and accepted in the future, Dollars is collapsing it is possible.

Bitcoin and Dollars are in different categories, Bitcoin is built on a blockchain, whereas Dollar is a fiat currency, can be controlled, manipulated, and conserved by the government. Bitcoin is unstable, very volatile, so you can't get a constant value when trying to spend with it over and over on different occasions. Most enthusiast hardly wants to see Bitcoin as a currency to spend when purchasing or paying for service, they'd best seek investment in it. 

[STT]

Bitcoin is already a world currency, it achieved this target a while ago.   To say it should be number one, Im not sure that should be an aim even if it were possible I think BTC is built for greater things then just being a daily currency.  
  A bit of coin silver or copper can already serve that purpose of being held as the 'largest currency' and yet we chose not to do that anymore.     To be in everyones pockets even virtually, it would mean BTC is entrenched in all kinds of legal and accounting red tape.
  I hope BTC will always stay a bit more free to adapt then a fixed simple thing;  BTC is a living protocol and thats its strength imo to keep improving even better then a normal currency.

[Jaycoinz]

What are the possibilities of Bitcoin becoming the central world   currency .
I feel strongly that Bitcoin will be more used and accepted than even Dollars. 
With the fast growing rate of Bitcoin in the world what are you taught's and opinions ? Kindly share

They say never say never but in some cases it's very hard to believe that some wishes will eventually become a reality and one of them is this although time can be one funny thing and a lot can happen too so who knows maybe Bitcoin can actually achieve this globally interms of all government keying to the trend of Bitcoin as a  general currency for all nations.

[philipma1957]

What are the possibilities of Bitcoin becoming the central world   currency .
I feel strongly that Bitcoin will be more used and accepted than even Dollars. 
With the fast growing rate of Bitcoin in the world what are you taught's and opinions ? Kindly share

It will not happen due to the scarcity of it.

It is much better as a storage of wealth

[CryptoBuds]

What are the possibilities of Bitcoin becoming the central world   currency .
I feel strongly that Bitcoin will be more used and accepted than even Dollars. 
With the fast growing rate of Bitcoin in the world what are you taught's and opinions ? Kindly share

It will not happen due to the scarcity of it.

It is much better as a storage of wealth

Indeed, that will not happen. The world has accepted to abandon the gold standard and use fiat, there is no reason for them to go back to using a scarce asset as currency. Although using scarce assets like gold or bitcoin as currency can reduce inflation, it will also hinder and prevent the growth of the world economy. Using bitcoin as a currency has its own pros and cons, it is not as perfect as many people think.

It is no coincidence that bitcoin is compared to gold and is considered by the world as digital gold. With characteristics such as scarcity, decentralization...it is more suitable for use as an asset, investment and can be a safe haven in the future like gold.

[shinratensei_]

If what you mean by world currency is Bitcoin dominating in remittance then It won't happen until bitcoin getting legitimized in most part of the worlds.
However, if it's just becoming world currency, I think bitcoin is already a world currency, its borderless nature means it can be used everywhere and it's already being used everywhere unlike traditional finance with their fiat.

The only thing holding bitcoin back is legal aspect, if it's solved, then everybody around the world will have instant access with bitcoin and can easily dominate.

[Strongkored]

What are the possibilities of Bitcoin becoming the central world   currency .
I feel strongly that Bitcoin will be more used and accepted than even Dollars. 
With the fast growing rate of Bitcoin in the world what are you taught's and opinions ? Kindly share

This is what Bitcoin lovers have always been waiting for to happen, but we are aware that there are great powers that will always try to prevent this from happening, big countries seem to be starting to look at Bitcoin as a means of payment, but it seems that after that happens they will also try to change it with a digital currency that they create, and the reason is because of Bitcoin's volatility which can prevent them from fully using Bitcoin as payment.
And now just enjoy where Bitcoin has been widely accepted and whether it will eventually become a global payment, we wait and see how this is realized.

[m2017]

What are the possibilities of Bitcoin becoming the central world   currency .

Zero chances. The powers that be will not allow this to happen. No representative of the country (any) will refuse such a powerful tool of influence on people as money. Acceptance of bitcoin is equivalent to giving up power over people.

I feel strongly that Bitcoin will be more used and accepted than even Dollars. 

I understand you perfectly, and like any bitcoiner, I want this to happen, but it is impossible. Instead of the dollar, a digital dollar (CBDC) will be used.

Let dreams of a bright future with bitcoin remain dreams. We need to soberly assess the situation and the position of the authorities, who don't have such wary feelings towards bitcoin.

With the fast growing rate of Bitcoin in the world what are you taught's and opinions ? Kindly share

The rapid growth of bitcoin can teach us only one thing: it is impossible to predict how quickly and how much btc will rise in price, but growth is still possible.

[Alpha Marine]

Here we go again with the "bitcoin as world currency" talks and theories. Even if all the currencies of the world crumble and become almost worthless, the governments of the world will never take bitcoin as the currency of the world. Satoshi never wanted bitcoin to take over every currency of the world, but an alternate currency. For something to be "alternate", it means it exists along with other options. 

What we need to focus on is how we can be allowed to use bitcoin freely anywhere and anytime. I don't even believe it has to be regarded as legal tender, just allow people to use and accept it if they want to.
There are too many references in the world for the world to have a "world currency" We're light years away from that.