Can Bitcoin be transformed to a global currency?

[Bishop Victor]

Bitcoin is the first and most popular digital currency created as a non-centralized crypto asset that can function without banks or government.its seamless nature and restricted supply makes it an appealing substitute to fiat currency.
On the other hand, various factors will determine whether Bitcoin can evolve into a global currency.its price turbulence is risky for day-to-day business ,also not all countries permit it as legal and official currency.Administrative problems and Digital obstacles also play a huge role.
In spite of these challenges , Bitcoin continues to obtain recognition globally with more companies and people making use of it for payment and investment.it may not entirely substitute national legal tender soon.But it unfolds as a widely recognized crypto asset , supplementing traditional funds and reforming the view of universal finance.

However, several factors will determine whether Bitcoin can truly evolve into a global currency. Its price volatility poses risks for everyday transactions, and not all countries recognize or permit it as legal tender. Administrative challenges and digital barriers also play significant roles.

[Obulis]

You gave a very direct calculation. Bitcoin is scares and decentralized and this makes it degrade fiat.
The level of acceptance that Bitcoin is receiving is already giving it the chance it needs to become a global currency. Banks and other financial organizations are investing in Bitcoin. Right now Bitcoin is a currency that someone can easily do with between many country. Definitely it won't replace fiat but it's tendency of becoming a global currency is seriously accelerating and that will cause serious change to global transactions.

[Queen uloma]

Bitcoin may not take over fiat but it can Become a global digital currency, which it has, the number of people using it for online payments is massive, I strong believe that very soon the world at large will strongly accept it,  Bitcoin will always remain the best financial system in the world, you know why? Imagine making use of Bitcoin any time and anywhere, no interference from the banks, government or anyone, makes it more relief, Bitcoin was created to give people financial freedom, ever since Bitcoin was created there has not been long queue in the banks anymore, Bitcoin have saved people from stress and embarrassment.

[Agathamay]

Bitcoin is the first and most popular digital currency created as a non-centralized crypto asset that can function without banks or government.its seamless nature and restricted supply makes it an appealing substitute to fiat currency.
On the other hand, various factors will determine whether Bitcoin can evolve into a global currency.its price turbulence is risky for day-to-day business ,also not all countries permit it as legal and official currency.Administrative problems and Digital obstacles also play a huge role.
In spite of these challenges , Bitcoin continues to obtain recognition globally with more companies and people making use of it for payment and investment.it may not entirely substitute national legal tender soon.But it unfolds as a widely recognized crypto asset , supplementing traditional funds and reforming the view of universal finance.

Bitcoin is functioning more as a store of value and used as an investment option than a global currency currently, although it has the potential but i don't think it would transition into that yet, maybe in the future who knows , it would even likely be used more for investment purpose in the near future, cause it would get very valuable and attract more investors. However we never can tell what the future would birth we can only speculate it would end up being the global currency in future since it's blockchain is very trustworthy.

[Orpichukwu]

However, several factors will determine whether Bitcoin can truly evolve into a global currency. Its price volatility poses risks for everyday transactions, and not all countries recognize or permit it as legal tender. Administrative challenges and digital barriers also play significant roles.

Volatility is one thing which can't be ignored, but fiat is also not stable in terms of its purchasing power reducing; 1 naira can be equal to 1 naira, just as 1 Bitcoin will always remain = 1 Bitcoin, but what that 1 naira could purchase years back is not what it can afford today.

Regulation is the least of the things which I see disqualifies Bitcoin from being a global currency, especially when it has to replace fiat. Not everyone can use it, and at the same time, it's not in a physical form, which makes it very unacceptable to many who value fiat.

[Man of peace]

Administrative problems and Digital obstacles also play a huge role.

What do you mean by administrative problems and digital obstacles, lol.

it may not entirely substitute national legal tender soon.But it unfolds as a widely recognized crypto asset , supplementing traditional funds and reforming the view of universal finance.

It was not created to replace fiat na. Bitcoin na alternative currency to fiat, how do you expect a decentralized currency to replace fiat, one wey government no fit print and control its supply, e no dey possible na. Bitcoin na currency wey people wey wan escape government control go dey use alongside fiat and e no dey bad like that.

Yes,in addition to what you have said, honestly speaking Bitcoin was not created to replace the Fiat currency rather to provide alternatives means of transaction in more effective ways other than our local banks and not to replace the Fiat currency,why because Bitcoin is not under the control of the government and in such will not be allowed to replace the Fiat currency until the power is handed over to the government before they can think of replacement of fiat currency  to Bitcoin if they agreed on..

[Cleanshit]

Bitcoin is the first and most popular digital currency created as a non-centralized crypto asset that can function without banks or government.its seamless nature and restricted supply makes it an appealing substitute to fiat currency.
On the other hand, various factors will determine whether Bitcoin can evolve into a global currency.its price turbulence is risky for day-to-day business ,also not all countries permit it as legal and official currency.Administrative problems and Digital obstacles also play a huge role.
In spite of these challenges , Bitcoin continues to obtain recognition globally with more companies and people making use of it for payment and investment.it may not entirely substitute national legal tender soon.But it unfolds as a widely recognized crypto asset , supplementing traditional funds and reforming the view of universal finance.

Bitcoin is functioning more as a store of value and used as an investment option than a global currency currently, although it has the potential but i don't think it would transition into that yet, maybe in the future who knows , it would even likely be used more for investment purpose in the near future, cause it would get very valuable and attract more investors. However we never can tell what the future would birth we can only speculate it would end up being the global currency in future since it's blockchain is very trustworthy.

Just as you have said who no what might happen in future maybe it could become but honestly I don’t see that shit happening the shit of a generation, I feel the government part of them might be happy and for more the older generation might even not be happy because they feel it doesn’t have any impact of the economy system, they feel it more like scam so why should you just bring something that could zoned off in a second.

[BitBakerr1]

Bitcoin is already a global currency. I believe every citizen in the country is using Bitcoin and bitcoin is more trustworthy and people are notw using it for international transaction. In this forum for example people are being paid in bitcoin for signature campaigns and it has been going very well and this is what people also use in supermarket and other shopping centers. For me bitcoin is already a global currency however, if you are thinking that bitcoin will one day replace fiat currency then you are not serious,  fiat currency is still very important in the world and in every country so bitcoin can never replace it, but they can both be used in the world and in every country.

[Mpamaegbu]

Bitcoin is already a global currency. I believe every citizen in the country is using Bitcoin...

My gee, no na. Everybodi for d full kontry neva even hear about Bitcoin, make e com remain to dey use am. Even in d next 20 years to com we go still get people wey nor go still know about am. Globally, Bitcoin nor fit be currency for everybodi and na bc Internet access nor fit dey for every kontry. Even in Naija, we get places wey internet nor dey work. So, imagine how people for dat region go wan take use Bitcoin na.

In this forum for example people are being paid in bitcoin for signature campaigns and it has been going very well and this is what people also use in supermarket and other shopping centers.

If na dat wan u take do ur standpoint, na im be sey e dey wrong na. How many percent of awa people dey here sef to start wit? How many old people even know about Bitcoin. By old people I dey refer to d class of those wey dey 70 years and above.

[Olatundespo]

Despite many government obstacles, Bitcoin has become a global currency. But Bitcoin is suitable for use as a complement to traditional assets. But it is not yet widely available. Some countries are still experimentally accepting Bitcoin for goods and services. Institutional adoption has begun and will expand over time. The limited supply and decentralized nature of Bitcoin make it attractive for expanding investments. In terms of transactions, Bitcoin is not limited to any country or border and some countries are accepting Bitcoin for global transactions. Three states in U.S have approved bills to make Bitcoin a strategic reserve, and 15 more states are considering approval.