Can Bitcoin Truly Become a Global Currency?

[RockBell]

Bitcoin already is a global currency, but some are not aware of that, maybe they are only waiting till that time the government will all announce that it has become a legal tender before they can believe its a global payment system, once we can use it to trade and exchange for goods and services, it increases in value and also a good store of value, we don't have to wait for the government to be in support for its use before we can engage.

Is is not yet a global currency because it as to be recognized globally before it is called a global currency and some countries have not yet accepted as an investment talk more of global currency, me personally I don't even want it as a currency because there stable currency that will fit perfectly for global currency instead of bitcoin because bitcoin should be seen more as an investment than a currency because when it was designed am sure Satoshi did not plan for it to be a currency. And there places that have accepted it as a legal tender, people should see it as something they can buy and hold and when it appreciates in value then they can sell and make more profit that way not to be spending it as money it's not like a bitcoin thing.

[Abiky]

As I said, do not impose traditional, government set standards on bitcoin. Because Bitcoin was designed not to conform to those frameworks and criteria. And if we disregard that outdated standard, Bitcoin does not need to replace fiat currency or become the unit of account to be considered a global currency. Bitcoin has become a global currency because people can use it for cross border or domestic transaction, as long as there is an agreement between the two parties

Today, most people view Bitcoin as a store of value rather than a currency. Thats due to people's preference and behavior. The fact that they do not like using bitcoin for payment doesnt mean it can not be used as a currency. Bitcoin can alway be used as a currency whenever they need it.

I was just pointing out the mindset of people when it comes to Bitcoin. The volatility and limited transaction capacity is what "scares" people away from Bitcoin when it comes to using it as a currency for day-to-day payments. You and I know Bitcoin is already a global currency because it exists in the Internet. With thousands of nodes supporting it, BTC is already in every "corner" of the world. Because Bitcoin is free (as in liberty) and open source, anyone can do whatever they want with it.

Using Bitcoin as a currency or store of value, is ultimately your choice. With mainstream media (and Wall Street) spreading propaganda that Bitcoin is "Digital Gold", I get why most people use it as a store of value than otherwise. Don't expect people's perception about BTC to change anytime soon. As long as the "money's flowing", nothing else matters.

[fuguebtc]

Is is not yet a global currency because it as to be recognized globally before it is called a global currency and some countries have not yet accepted as an investment talk more of global currency, me personally I don't even want it as a currency because there stable currency that will fit perfectly for global currency instead of bitcoin because bitcoin should be seen more as an investment than a currency because when it was designed am sure Satoshi did not plan for it to be a currency. And there places that have accepted it as a legal tender, people should see it as something they can buy and hold and when it appreciates in value then they can sell and make more profit that way not to be spending it as money it's not like a bitcoin thing.

Have you ever read Bitcoin's white paper? "Bitcoin: A Peer-to-Peer Electronic Cash System" is its title and the title itself reveals Bitcoin's original purpose as a peer to peer electronic cash  system

We can use Bitcoin as a store of value or an investment to enrich ourselves. But we cannot deny that he created it as a peer to peer currency, and in fact,  it can still be used for that purpose


Instead of being selfish and wanting bitcoin to be an asset that serves only your personal interest, why can not bitcoin be both? Bitcoin is both a currency and a global asset.

[Onyeeze]

   
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?

at first bitcoin was created to become a universal Currency but across the line what makes bitcoin not to be valued as a universal Currency today is because of government interception, right from time bitcoin was created government have not accepted Bitcoin because they have one stinking believe that Bitcoin may be used as a money laundering and that is why you see many countries government come against the development of Bitcoin from the awareness or Bitcoin starting from 2009 to date the circulation supposed to make Bitcoin to be a legal tender and top 10 of the countries but some of the countries kicked against the development of Bitcoin to become a legal tender

[Swordsoffreedom]

at first bitcoin was created to become a universal Currency but across the line what makes bitcoin not to be valued as a universal Currency today is because of government interception, right from time bitcoin was created government have not accepted Bitcoin because they have one stinking believe that Bitcoin may be used as a money laundering and that is why you see many countries government come against the development of Bitcoin from the awareness or Bitcoin starting from 2009 to date the circulation supposed to make Bitcoin to be a legal tender and top 10 of the countries but some of the countries kicked against the development of Bitcoin to become a legal tender

Governments reject and oppose it because its decentralized nature makes it impossible for them to control it. Reasons such as Bitcoin being used only for money laundering or its mining harming the environment are merely excuses to justify their failure to control it

Let's assume that the government is the reason bitcoin cannot become a global currency. However, do you think people would use Bitcoin as an everyday currency if they recognized it as legal tender? I do not think so. Many of us only see it as an investment asset and are satisfied with that. Many people are unwilling to use and spend it as currency

[ultrloa]

As I said, do not impose traditional, government set standards on bitcoin. Because Bitcoin was designed not to conform to those frameworks and criteria. And if we disregard that outdated standard, Bitcoin does not need to replace fiat currency or become the unit of account to be considered a global currency. Bitcoin has become a global currency because people can use it for cross border or domestic transaction, as long as there is an agreement between the two parties

Today, most people view Bitcoin as a store of value rather than a currency. Thats due to people's preference and behavior. The fact that they do not like using bitcoin for payment doesnt mean it can not be used as a currency. Bitcoin can alway be used as a currency whenever they need it.

Well said. Here I will say this that Bitcoin has the independent peer-to-peer decentralized ecosystem, and that actually doesn't need the state validation.
Moreover, if we look at the developed world, there are many lower middle-income countries where Bitcoin is not only used as a holding or remittance, but they are also using it directly in daily transactions due to the inflation of fiat currency. Among these, if we look at Nigeria, India, Vietnam and other countries, it is noteworthy.

Moreover, there are many countries where Bitcoin is not legal, but a huge population from there is involved with Bitcoin, and although these issues have not officially made Bitcoin a global currency in a visible way, it has already become a global currency silently.

And Bitcoin does not wait for the approval of government before it happens since its running its own decentralize network, What's really great about it its been used on those countries you mentioned and provably more people in different countries using it not only for remittance and investment, but provably using it for their online transactions same with their local currencies.

We can also see that even in countries Bitcoin is not legal still thousands of people using it for whatever things they need. This one show that Bitcoin already became a cross boarder means of payment and also it became already a global currency in that aspects, even if the government didn't recognized it yet.

Great example to see the numbers of transactions happening per day on Bitcoin https://ycharts.com/indicators/bitcoin_transactions_per_day

Also lightning network shows promising stats to https://coinlaw.io/bitcoin-lightning-network-usage-statistics/

[rbynxx]

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?

Nah, I don't think Bitcoin will gonna be the kind of a scan-paid kind of money. Yeah it's definitely cool especially by holding its value or huge transfers without some bank interference or some middleman. But, for everyday stuff? I don't think it's applicable (maybe??) right now. The fee spikes when the network is congested, it also takes forever to confirm most of the time, and the price swings isn't someone that can be handled especially for a boomer lol.

I think it will stay as a store of value just like gold, besides it's not bad if it stays like that and to name it as digital gold in this digital world, that would be so cool. We are heading that way tbh, fully digital especially in terms of payments.

[JayJuanGee]

at first bitcoin was created to become a universal Currency but across the line what makes bitcoin not to be valued as a universal Currency today is because of government interception, right from time bitcoin was created government have not accepted Bitcoin because they have one stinking believe that Bitcoin may be used as a money laundering and that is why you see many countries government come against the development of Bitcoin from the awareness or Bitcoin starting from 2009 to date the circulation supposed to make Bitcoin to be a legal tender and top 10 of the countries but some of the countries kicked against the development of Bitcoin to become a legal tender

Governments reject and oppose it because its decentralized nature makes it impossible for them to control it. Reasons such as Bitcoin being used only for money laundering or its mining harming the environment are merely excuses to justify their failure to control it

Let's assume that the government is the reason bitcoin cannot become a global currency. However, do you think people would use Bitcoin as an everyday currency if they recognized it as legal tender? I do not think so. Many of us only see it as an investment asset and are satisfied with that. Many people are unwilling to use and spend it as currency

Yes.. .governments, financial institutions and/or status quo rich want to control and monitor bitcoin and they are ongoingly putting obstacles in place in regards to bitcoin because they don't really want people to have financial sovereignty and/or privacy (even if they might say lovey dovey things about supposedly protecting people from bad people), including accounting obstacles and tax treatment that likely causes hesitations in adoption and usage of bitcoin.. including putting privacy developers in jail (Samurai).

[NurseHub]

bitcoin is global already but not fiat currency type of global if that's what you mean, for me I think bitcoin is only not global because it's known but because of its ability to be sent from one part of the world to another and currently used by even minority countries you've probably never heard of and then people say it's not global? that's global for me but bitcoin is not going to be in comparison with fiat in terms of usage and all countries have their own fiat to use but bitcoin is bitcoin in every country.

[Taskford]

at first bitcoin was created to become a universal Currency but across the line what makes bitcoin not to be valued as a universal Currency today is because of government interception, right from time bitcoin was created government have not accepted Bitcoin because they have one stinking believe that Bitcoin may be used as a money laundering and that is why you see many countries government come against the development of Bitcoin from the awareness or Bitcoin starting from 2009 to date the circulation supposed to make Bitcoin to be a legal tender and top 10 of the countries but some of the countries kicked against the development of Bitcoin to become a legal tender

Governments reject and oppose it because its decentralized nature makes it impossible for them to control it. Reasons such as Bitcoin being used only for money laundering or its mining harming the environment are merely excuses to justify their failure to control it

Let's assume that the government is the reason bitcoin cannot become a global currency. However, do you think people would use Bitcoin as an everyday currency if they recognized it as legal tender? I do not think so. Many of us only see it as an investment asset and are satisfied with that. Many people are unwilling to use and spend it as currency

Yes.. .governments, financial institutions and/or status quo rich want to control and monitor bitcoin and they are ongoingly putting obstacles in place in regards to bitcoin because they don't really want people to have financial sovereignty and/or privacy (even if they might say lovey dovey things about supposedly protecting people from bad people), including accounting obstacles and tax treatment that likely causes hesitations in adoption and usage of bitcoin.. including putting privacy developers in jail (Samurai).

They just frame those actions they do as protecting people, but in deeper sense they just really want to monitor and control what's happening on Bitcoin.

This coin challenge the surveillance and monopoly that's why some government that's the reason why the regulation they set is so complex and worst they are suing those developers which create a privacy focus platforms.

To crazy for those officials that what they portray risky or bad coin to invest is actually the one protecting them from government manipulation and also inflation happening in the world.

[|MINER|]

And Bitcoin does not wait for the approval of government before it happens since its running its own decentralize network, What's really great about it its been used on those countries you mentioned and provably more people in different countries using it not only for remittance and investment, but provably using it for their online transactions same with their local currencies.

We can also see that even in countries Bitcoin is not legal still thousands of people using it for whatever things they need. This one show that Bitcoin already became a cross boarder means of payment and also it became already a global currency in that aspects, even if the government didn't recognized it yet.

If we turn your logical words into reality, the data will come in such a way that even though Bitcoin is banned or illegal in many countries, not thousands of people are using it, but millions of people are involved in Bitcoin and of course there are transactions between them.
If you look at the data in this analysis article by Coingecko, you will see that despite the crypto ban in a country like China, 4.08% of the population (58millions of people) own cryptocurrency and I can emphasize this here that most of them are in the bitcoin segment.
And besides, the list is more
2.95% of the population of Egypt which is 3.3 million people
2.43% of the population of Bangladesh which is 4.2 million people
1.98% of the population of Bolivia which is 246 thousand people
1.81% of the population of Iraq which is 822 thousand people
1.44% of the population of Myanmar which is 785 thousand people. Source link
So if we count only based on this data analysis, and the report is for 2023, then a total of 67.3 million people are connected from just these six countries despite the crypto ban, so just imagine what is the amount of real-time data that can be available today, even from all countries around the world!  .

[BlockSyntaxs]

at first bitcoin was created to become a universal Currency but across the line what makes bitcoin not to be valued as a universal Currency today is because of government interception, right from time bitcoin was created government have not accepted Bitcoin because they have one stinking believe that Bitcoin may be used as a money laundering and that is why you see many countries government come against the development of Bitcoin from the awareness or Bitcoin starting from 2009 to date the circulation supposed to make Bitcoin to be a legal tender and top 10 of the countries but some of the countries kicked against the development of Bitcoin to become a legal tender

Governments reject and oppose it because its decentralized nature makes it impossible for them to control it. Reasons such as Bitcoin being used only for money laundering or its mining harming the environment are merely excuses to justify their failure to control it

Let's assume that the government is the reason bitcoin cannot become a global currency. However, do you think people would use Bitcoin as an everyday currency if they recognized it as legal tender? I do not think so. Many of us only see it as an investment asset and are satisfied with that. Many people are unwilling to use and spend it as currency

Yes.. .governments, financial institutions and/or status quo rich want to control and monitor bitcoin and they are ongoingly putting obstacles in place in regards to bitcoin because they don't really want people to have financial sovereignty and/or privacy (even if they might say lovey dovey things about supposedly protecting people from bad people), including accounting obstacles and tax treatment that likely causes hesitations in adoption and usage of bitcoin.. including putting privacy developers in jail (Samurai).

They just frame those actions they do as protecting people, but in deeper sense they just really want to monitor and control what's happening on Bitcoin.

This coin challenge the surveillance and monopoly that's why some government that's the reason why the regulation they set is so complex and worst they are suing those developers which create a privacy focus platforms.

To crazy for those officials that what they portray risky or bad coin to invest is actually the one protecting them from government manipulation and also inflation happening in the world.

This statement highlights the fundamental tension between the state and permissionless technologies like Bitcoin. While governments frame regulation as protecting society, another layer often overlooked is the drive to maintain control over the monetary system. Bitcoin, by design, reduces the ability for surveillance, censorship, and unilateral intervention. This is why regulation is often not only complex but also directed at points where it intersects with privacy. The prosecution of privacy platform developers demonstrates that the focus is not solely on consumer protection, but rather on controlling the flow of value and information. Ironically, Bitcoin's perceived risky characteristics—such as censorship resistance and limited supply—actually protect individuals from monetary policy manipulation and inflation. In this context, the conflict is not simply about public safety, but about who holds control over money.

[Smack That Ace]

bitcoin is global already but not fiat currency type of global if that's what you mean, for me I think bitcoin is only not global because it's known but because of its ability to be sent from one part of the world to another and currently used by even minority countries you've probably never heard of and then people say it's not global? that's global for me but bitcoin is not going to be in comparison with fiat in terms of usage and all countries have their own fiat to use but bitcoin is bitcoin in every country.

This is largely due to government, as they do not dare fully acknowledge bitcoin and allow it to compete fairly with fiat. I think if they allow them to compete directly and fairly with each other, it is hard to say that fiat will still dominate.

Due to legal barriers imposed by government, Bitcoin is unlikely to be comparable to fiat currency in terms of usage in daily transactions. However, in return, it is far superior to fiat currency in cross border money transfers, offering faster speeds and lower cost

[Jobbe]

everyone wants to know if Bitcoin functions or can function as a currency. and majority are affirming to that.
some are saying, "fees are low right now"..others are saying, "if functions better as a store of value". majority are saying "the government is an obstacle". but..i really think this is more deeper than the 'technical' aspect that we are all looking at.

one thing we should put into consideration, is the Economy (globally).
the foundations in which the global economy was built on, and how it functions.
Yes  we all know that the governments are the ones in charge of controlling the money and financial system. which means they also control the interest rates and inflation..and this is the reason why bitcoin is always seen as a threat by the government. because Bitcoin literally opposes that structure. by design. and really, this is something you can just 'fix' with a better technology.
because the struggle is something that has already been. since the foundations of the global economy.

so we shouldn't see Bitcoin's technical limitations as the reason why it can't become a currency, globally.
reason being that, the foundations of the global economy was not built and designed to work without the tools the government use in managing the monetary transactions and finances of the economy. and Bitcoin was designed and built to take those tools away.

[NurseHub]

bitcoin is global already but not fiat currency type of global if that's what you mean, for me I think bitcoin is only not global because it's known but because of its ability to be sent from one part of the world to another and currently used by even minority countries you've probably never heard of and then people say it's not global? that's global for me but bitcoin is not going to be in comparison with fiat in terms of usage and all countries have their own fiat to use but bitcoin is bitcoin in every country.

This is largely due to government, as they do not dare fully acknowledge bitcoin and allow it to compete fairly with fiat. I think if they allow them to compete directly and fairly with each other, it is hard to say that fiat will still dominate.

Due to legal barriers imposed by government, Bitcoin is unlikely to be comparable to fiat currency in terms of usage in daily transactions. However, in return, it is far superior to fiat currency in cross border money transfers, offering faster speeds and lower cost

Well for me bitcoin is more money than fiat in terms of definitions of money but however we still do not have the capability to compare bitcoin with fiat on usability, bitcoin  can be fast in terms of international transfers but still fiat is more durable for the common man and everyday user of money since it's more reachable but bitcoin is way beyond fiat.

Since we can't do without government we have to stick with them, and then fiat will still have to rule even if we want bitcoin to dominate.

[Mandoy]

   
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?

at first bitcoin was created to become a universal Currency but across the line what makes bitcoin not to be valued as a universal Currency today is because of government interception, right from time bitcoin was created government have not accepted Bitcoin because they have one stinking believe that Bitcoin may be used as a money laundering and that is why you see many countries government come against the development of Bitcoin from the awareness or Bitcoin starting from 2009 to date the circulation supposed to make Bitcoin to be a legal tender and top 10 of the countries but some of the countries kicked against the development of Bitcoin to become a legal tender

I believe that there is the aspect of government resistance to it, but not the only one, which does not make Bitcoin an actual global daily currency, yet. Even in areas where governments are more liberal, Bitcoin continues to have handicapped constraints such as price fluctuations, base-layer transaction speed and user experience. A majority of the population does not want to spend it today that can be very valuable tomorrow which naturally drives Bitcoin towards becoming a store of value rather than a daily payment tool. With that said, development has not stagnated as Lightning Network and other Layer-2 solutions are becoming even quicker and less expensive to pay with. Bitcoin would in the long run become a settlement and reserve asset used around the world and quicker layers can do day to day transactions.

[Rockstarguy]

bitcoin is global already but not fiat currency type of global if that's what you mean, for me I think bitcoin is only not global because it's known but because of its ability to be sent from one part of the world to another and currently used by even minority countries you've probably never heard of and then people say it's not global? that's global for me but bitcoin is not going to be in comparison with fiat in terms of usage and all countries have their own fiat to use but bitcoin is bitcoin in every country.

Bitcoin is even more global,  it is just popular like top fiat currencies and more popular than some other Fiat which we have never heard about before. Being global doesn't mean it has to have anything with the government or must be aprove by the government.

Bitcoin is global because of its popularity, the roles it plays for humanity and the importance and the value. Since Bitcoin has all this things it means bitcoin is global, meaning bitcoin is everywhere. So, looking into this their is no debate about bitcoin not being global because evidence and proof for this is very much.

[betswift]

bitcoin is global already but not fiat currency type of global if that's what you mean, for me I think bitcoin is only not global because it's known but because of its ability to be sent from one part of the world to another and currently used by even minority countries you've probably never heard of and then people say it's not global? that's global for me but bitcoin is not going to be in comparison with fiat in terms of usage and all countries have their own fiat to use but bitcoin is bitcoin in every country.

Bitcoin is even more global,  it is just popular like top fiat currencies and more popular than some other Fiat which we have never heard about before. Being global doesn't mean it has to have anything with the government or must be aprove by the government.

Bitcoin is global because of its popularity, the roles it plays for humanity and the importance and the value. Since Bitcoin has all this things it means bitcoin is global, meaning bitcoin is everywhere. So, looking into this their is no debate about bitcoin not being global because evidence and proof for this is very much.

I would start calling it global when most of the countries across the globe would adapt it to such a degree.

Otherwise.. It is suited and well-adjusted to become global, rather than being one.

[Rockstarguy]

I would start calling it global when most of the countries across the globe would adapt it to such a degree.

Otherwise.. It is suited and well-adjusted to become global, rather than being one.

You don't need to wait for the approval of the government or for the government to adopt it first before it becomes global. Individuals in these countries have already adopted Bitcoin, and many are investing, trading Bitcoin, and also using Bitcoin for different purposes, which makes Bitcoin global.

The most important factor is that it is being recognized by individuals on this surface of the Earth; adoption can come later from the government, and this is not what makes Bitcoin global, but its recognition.

[betswift]

I would start calling it global when most of the countries across the globe would adapt it to such a degree.

Otherwise.. It is suited and well-adjusted to become global, rather than being one.

You don't need to wait for the approval of the government or for the government to adopt it first before it becomes global. Individuals in these countries have already adopted Bitcoin, and many are investing, trading Bitcoin, and also using Bitcoin for different purposes, which makes Bitcoin global.

The most important factor is that it is being recognized by individuals on this surface of the Earth; adoption can come later from the government, and this is not what makes Bitcoin global, but its recognition.

If it's not used globally and not accepted by the businesses and such - it's not truly global, imo.

Depends on what we define as a global as a whole.. If we define it as a usage by the people - sure, anybody can do that, but we went a bit further with that definition and as I think, many people would want to see BTC being used as an alternative to fiat on a truly more global stage - paying for services and stuff via the legal frameworks (if such need or desire arises).