Can Bitcoin Truly Become a Global Currency?

[lionheart78]

Do you think Bitcoin will ever function as a global currency, or will it stay more as an investment and store of value?

I can pay for the purchases from other merchants that reside in other countries without any problem with Bitcoin.  If you don't consider that as the characteristics of a global currency, then what is it called?

I have been paying with Bitcoin to most of the subscriptions I made online, and their offices are in different countries.  Yes, there are some countries that don't recognize Bitcoin as a mode of payment, but I think in each continent, there are countries that recognize Bitcoin and accept it as either an asset or a mode of payment.

In short,  global online merchants are accepting Bitcoin as payment, so the question of whether Bitcoin can become a global currency has already been answered several years ago.

[bitterguy28]

with how many big companies and governments are buying and holding bitcoin it might be a little hard to use bitcoin for every day transactions like buying coffee but it does not mean that bitcoin can't be used for any other things like bigger transactions

[Awaklara]

Do you think Bitcoin will ever function as a global currency, or will it stay more as an investment and store of value?

I think in the future, most countries might accept Bitcoin as an alternative payment for international trade, and all of that would be done legally. Currently, most people just hold Bitcoin, trading it as a store of value. Because of Bitcoin's value, its appeal right now is as an asset, but I am confident that in the future, there will certainly be great hope that Bitcoin will be used as a payment method accepted globally.

[fikrett]

with how many big companies and governments are buying and holding bitcoin it might be a little hard to use bitcoin for every day transactions like buying coffee but it does not mean that bitcoin can't be used for any other things like bigger transactions

Why it would become hard?

[Ucy]

Adoption is not a problem. There are aot of adoptors already, and it's becoming more common to see people who know about Bitcoin/crypto. Most of the adoptors would rather hold Bitcoin than sell or use it as Medium of Exchange, which is ok.
What we need or are working on is to get more people use it as Medium of Exchange, and one of the best ways to achieve this is to include some sort of Bitcoin cyber (and possibly physical) countries, with independent markets, shops, institutions, organizations, companies, etc that use Bitcoin as native currency.. For this to be easily achieved, they have to align with Bitcoin principles to gain reasonable degree of independence from fiat system/governments. They can't be independent while refusing to be transparent, monitored and constantly reviewed for issues by the Bitcoin community.
Then to create a balance between using Bitcoin as MoE and SoV, it will be important to sell products/services that users will find valuable enough to exchange for their bitcoins.
Other alternatives to LN network are also needed for faster and cheaper transactions, with smart escrow system to facilitate things like automated and semi-automated transactions or transfers

[gunhell16]

As I understand it, Bitcoin has been a global currency for a long time now. I’m not sure if all users realize this, but anyone who holds Bitcoin can send it anywhere and have it converted into the local fiat currency of their country.

This is why people from any part of the world can earn Bitcoin through signature campaigns, for instance, and then trade it for stablecoins
or any other asset they prefer. This universal accessibility is exactly what makes it a true global currency.

[Byebyebtc]

From the look of things presently, Bitcoin already can be considered a global currency although it is not like an official thing.
But any one anywhere can use it, and most companies or businesses globally accept it as a means of payment.
So even if it is not official I consider it a means of payment.

[Omj1014]

I think Bitcoin is already a global currency a lot of individuals and companies uses it today for transportations, the only reason you can still come up with this kind of topic is that most people have not accepted the fact that it's more faster and reliable means to transact than fait, most likely because it's not centralized, but it doesn't need to be.
More people will get along with program as time goes on
It's perfect for fast transactions, but it's not a good store value because volatility.

[Miles2006]

   
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?

The process whereby anyone can send bitcoin across broader makes bitcoin a global currency, although you might have a different view also bitcoin permits international transaction. Everyday purchase can still be carried out depending on your choice of interest, bitcoin creation was never meant to stand as a hindrance against fiat currency or any other form of payment method, I think if you understand bitcoin properly you’ll know bitcoin is mainly a private coin. Governments no longer gain control over bitcoin so seeking bitcoin as global currency simply means a restriction order must be applied which is impossible, aside the fact governments want to control bitcoin but they can’t gain a full access reason why most country don’t permit the use of bitcoin for transaction purpose.

[Maslate]

It's already acting as a global currency now as you can send and receive bitcoin all over the universe. However, in terms of using bitcoin as a payment tool, it could still be limited for now since only few merchants are open about bitcoin, while majority are still in the process of studying and understanding the potentials of bitcoin until they will finally accept bitcoin as a mode of payment.

Hopefully, in the next 10 years to come, bitcoin will be completely globalized soon, along with governments already open to bitcoin and all its potentials.

[Patikno]

   
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?

Haven't you seen the development of global adoption of Bitcoin? Bitcoin is becoming increasingly popular and increasingly discussed. Some of the problems you mentioned already have solutions. So, there is no doubt that Bitcoin will become a global currency, but it is all just a matter of time.

Personally, I believe Bitcoin will function as a global currency, even though it is currently still preferred as an investment. From the beginning, Bitcoin was intended as an alternative currency, and its ease of transacting with Bitcoin worldwide (without borders) is clearly a far cry from the limited use of fiat, even for transfers to neighboring countries. Gold is also difficult, requiring space and time for transactions, and gold once a medium of exchange, but now become an investment. So, I believe Bitcoin is a solution to the shortcomings of fiat or gold. Cmiiw.

[Danica22]

As I understand it, Bitcoin has been a global currency for a long time now. I’m not sure if all users realize this, but anyone who holds Bitcoin can send it anywhere and have it converted into the local fiat currency of their country.

This is why people from any part of the world can earn Bitcoin through signature campaigns, for instance, and then trade it for stablecoins
or any other asset they prefer. This universal accessibility is exactly what makes it a true global currency.

From my quick research, a global currency is a type of currency that is widely accepted and used throughout the world. It is used as a unit of payment or to price goods in international trade transactions. Therefore, the fact that Bitcoin can be sent anywhere and converted into the legal tender of any country is not enough to consider it a global currency.

In my opinion, Bitcoin is currently a global asset, but not yet a global currency. However, in the context of deepening global political polarization, I believe that Bitcoin will become a global currency in the future. Once a truly multipolar world is formed, where no single country or currency holds absolute dominance. A neutral asset like Bitcoin is the perfect choice to become a global common currency.

[Jostern]

   
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?

Well bitcoin can become a universal currency, because since bitcoin was created it has become a global financial commodity online, which most of the countries have adopted bitcoin as a means of exchange, but most countries as well haven’t used bitcoin as a legal tender which is why when things like National crisis happens it actually do affect the Bitcoin as well, but most countries would find it difficult to adopt Bitcoin as a means of payment or permanent exchange because of the volatility nature of Bitcoin, and Bitcoin isn’t regulated by anyone, and most Governments would want a currency that they can control in the economic conditions of each countries so it’s very possible most of countries mostly western countries wouldn’t want to adopt bitcoin, I will have to say bitcoin would find it very difficult to become global currency.

[hero_the_bossman]

   
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?

Well bitcoin can become a universal currency, because since bitcoin was created it has become a global financial commodity online, which most of the countries have adopted bitcoin as a means of exchange, but most countries as well haven’t used bitcoin as a legal tender which is why when things like National crisis happens it actually do affect the Bitcoin as well, but most countries would find it difficult to adopt Bitcoin as a means of payment or permanent exchange because of the volatility nature of Bitcoin, and Bitcoin isn’t regulated by anyone, and most Governments would want a currency that they can control in the economic conditions of each countries so it’s very possible most of countries mostly western countries wouldn’t want to adopt bitcoin, I will have to say bitcoin would find it very difficult to become global currency.

We need to return to this discussion when the volatility will become as low as for BTC to become such an option for payment by the people and govs alike.

[Botnake]

Some people are actually enjoying it already using bitcoin as a global currency. Although it's not yet completely possible with physical transactions, but with online, everything is possible with bitcoin. So I won't be surprised if in the near future, majority will already benefit bitcoin as a currency, not just as an alternative one, but even a legal tender soon.

However, some would still prefer bitcoin as an investment. Because once global adoption for bitcoin is here, its demand will also increase, which means higher demand, bigger price of bitcoin. That's why smart people will still chose to invest in bitcoin, rather than spending it and lose the chance to make future returns.

[nemesis_incarnate]

Some people are actually enjoying it already using bitcoin as a global currency. Although it's not yet completely possible with physical transactions, but with online, everything is possible with bitcoin. So I won't be surprised if in the near future, majority will already benefit bitcoin as a currency, not just as an alternative one, but even a legal tender soon.

However, some would still prefer bitcoin as an investment. Because once global adoption for bitcoin is here, its demand will also increase, which means higher demand, bigger price of bitcoin. That's why smart people will still chose to invest in bitcoin, rather than spending it and lose the chance to make future returns.

Investing now, having a good time later down the line in a decade or so seems like the best option there can be.

[Peanutswar]

I can consider the bitcoin as a global currency because its accessible to everyone but as of now there are some country not yet supported the use of the bitcoin. We cannot push them out the use of the bitcoin so apparently still there are large country use the potential of the bitcoin and fews there are still restrictions in their country but not fully utilize the use of it. if ever they will appreciate the use of the bitcoin we are now heading into the next innovation which is web3 people now can do transactions with their wallets on different platfrom so we have a huge heading forward with the bitcoin.

There some countries now accepted the use of bitcoin as form of payment into their goods and services but of course its still volatile so they converted into their local currencies just part of their movement for accepting of the trend with the bitcoin.

[MusaMohamed]

I can consider the bitcoin as a global currency because its accessible to everyone but as of now there are some country not yet supported the use of the bitcoin. We cannot push them out the use of the bitcoin so apparently still there are large country use the potential of the bitcoin and fews there are still restrictions in their country but not fully utilize the use of it.

Bitcoin has many utilities and use cases so people globally can use Bitcoin differently. Considering Bitcoin as a global currency or not, it's matter of definition and categorization while anything you use to call Bitcoin, it does not change what Bitcoin is.

I don't feel it's too important for argument about whether Bitcoin is a global currency or it has yet reached to that adoption level. It's not important as globally there will be nations are against Bitcoin, there will be people who dislike, don't use Bitcoin, but let them be, Bitcoin is here for every nations, every people who are ready for changes.

Bitcoin as a global currency is one of the bullish cases for Bitcoin.

[taufik123]

-snip-
There some countries now accepted the use of bitcoin as form of payment into their goods and services but of course its still volatile so they converted into their local currencies just part of their movement for accepting of the trend with the bitcoin.

A safer and more real way to apply is to use a Payment Gateway so that it will be converted to Fiat in real-time,
this makes sellers of goods and services that accept Bitcoin or altcoins will not experience risk due to price fluctuations because the price will be converted in real-time.

But about real payments like this will depend on the regulations of each country.
In my country it is only a commodity asset and should not be used more than that, so it is only limited to trading and investment,
but this will continue to grow and make crypto more friendly and used by many people.

[nakamura12]

I'd say that it is already a global currency as there are lots of people around the world who is using bitcoin for a long time although some government doesn't fully support the use of bitcoin and why it is banned in some countries. For now, it's not really a global currency as I explained before about government so when a government have positive overview about Bitcoin then you can say that it's a global currency. As far as I know, there are shops that accept Bitcoin as mode of payment so It's already on a step of becoming a global currency and when the regulations about cryptocurrency will change then it will be a great news for crypto.