Can Bitcoin Truly Become a Global Currency?

[HONDACD125]

   
Since Bitcoin was created, many believed it could become a universally accepted currency—borderless, fast, and independent from governments. But in reality, can Bitcoin ever be used for everyday purchases? Issues like slow transaction fees, network congestion, volatility, and merchant adoption remain challenges today. While solutions like Lightning Network continue to improve speed and cost, there’s still a long way to go. Do you think Bitcoin will ever function as a global currency, or will it stay more as an investment and store of value?

Bitcoin has already become a global currency, and for it to become a global currency it is not necessary for it to be accepted almost everywhere, but since it is currently being used in so many countries even as a way of making payments, we could say that it's a global currency. Now even the governments are involved, because Bitcoin is slowly becoming a part of their reserves since they have realized its potential, and they don't want to lose on the profits they could make by holding Bitcoin in their reserves. So after this, I don't think we should have any sort of doubts about Bitcoin and its potential.

It's true that Bitcoin has some issues, sometimes the network gets congested and then the fees go very high, sometimes a transaction might take a bit longer than expected because of this, but that's okay, we could bear such things after all that Bitcoin has done for us, because if it wasn't for Bitcoin, this market wouldn't exist today, and we should ask ourselves about how much we have got from this market. This market has changed the lives of so many people, and they should always be grateful for that.

[finaleshot2016]

It's already a global currency, the only thing left here is that majority of the countries should use it to become one of the leading currencies. There's nothing to prove in global aspect, it already preforming well, doing its use case and making it a good asset for investment and ofc, p2p transactions. A good use case too is that it's being used for remittance so you can't pay huge fees from money transfers. Imagine, that some countries are allowing cryptocurrency to become a payment for necessities, imagine how huge is that, it could be a game-changer, less hassle experience since the transaction is fast and small fees nowadays.

[Queen uloma]

Bitcoin has already become the biggest global currency in the world but not all countries use it,  Bitcoin has really help people, especially for the fact that nobody controls it including the government, this has really made people to invest more in Bitcoin, imagine going to the bank to join a queue with all the stress and embarrassment that bankers render on you, you will have no choice than to wait patiently for your turn, but Bitcoin transaction isn't like that, you can stay inside your room,  or anywhere and do your transaction without waiting for anyone approver, automatically Bitcoin is gradually over shadowing banks and any other Asset in the world globally.

[atookz]

It's already a global currency, the only thing left here is that majority of the countries should use it to become one of the leading currencies. There's nothing to prove in global aspect, it already preforming well, doing its use case and making it a good asset for investment and ofc, p2p transactions. A good use case too is that it's being used for remittance so you can't pay huge fees from money transfers. Imagine, that some countries are allowing cryptocurrency to become a payment for necessities, imagine how huge is that, it could be a game-changer, less hassle experience since the transaction is fast and small fees nowadays.

It is now unnecessary that Bitcoin has to prove itself in terms of technology as now it operates worldwide in every respect. Although it is highly volatile hence appealing as a genuine investment, it does not imply that it cannot be utilized as a global currency. Its future struggles are more regulatory, adoption, and social. Bitcoin is only at its early stage, it is still not clear what institutionalization and state policies are going to make of it.

[Minor Miner]

Imagine, that some countries are allowing cryptocurrency to become a payment for necessities, imagine how huge is that, it could be a game-changer, less hassle experience since the transaction is fast and small fees nowadays.

We already have it, and El Salvador is the country that made it a reality five years ago. But according to surveys and the achievements they have made. As we can see, it does not make as much of a difference or change the game as we imagined, because over 90% of the population does not want to use bitcoin to replace fiat.

Furthermore, how many people do you think would be willing to use and spend their Bitcoin if the government allowed it to function as a currency? If we're honest, it is clear that most people view it as an investment and want to profit from it rather than spend it.

[As-Soon-As]

People are using this Bitcoin in various ways, using it to make transactions, using it to keep Bitcoin for a long time to be economically independent. And many people also play a huge role in fast transactions, because in those who make Bitcoin or money transactions from home to abroad, this Bitcoin plays the biggest role and the transaction is completed within a moment. So the person who holds this Bitcoin for the purpose will fulfill that purpose, because Bitcoin is capable of fulfilling all the purposes of people, that is why the demand for Bitcoin is huge and the price of Bitcoin will be much higher in the future.