People is doubting Bitcoin being a global currency

[nakamura12]

Being used globally doesn't mean it's a global currency because if it is indeed a global currency then it should have been already added as a legal tender but it is not so that's why many people are doubting tha Bitcoin is a global currency which is not. The reason why it is considered as a global currency is because it is used by many people around the world. To be precise, it is considered by Bitcoin users as a global currency and not global currency by government since it is not a legal tender.

[Lida93]

Bitcoin is a global currency and theirs no doubt that will call for debate, if bitcoin is a global currency or not,

I'm asking this question to everyone, are you convinced if bitcoin is a global currency or not?

How's bitcoin a global currency when it doesn't have the legal approval of almost all the countries in the world? Or has the understanding of a global currency changed because we're talking about bitcoin ?
Op, you should probably do a research about how many countries in each continent does approve of bitcoin as their legal tender. And by the numbers you get by each continent you can consider your stance again if really for now bitcoin can be classified as global currency despite the undeniable role it plays.

[Karl_3000]

How's bitcoin a global currency when it doesn't have the legal approval of almost all the countries in the world?

Bitcoin does not have to be a legal tender before it should be a global currency. Among 195 countries in the world, only 10 countries totally banned bitcoin. The countries are:

Afghanistan
Algeria
Bangladesh
Bolivia
China (excluding Hong Kong)
Egypt
Iraq
Morocco
Nepal
Tunisia

In the countries that I listed that banned bitcoin, many people in the countries are still buying and selling bitcoin because bitcoin is not centralized but decentralized for the world to be able to access it.

This show how bitcoin is a global currency.

You can receive it and send it to anyone at anywhere in the world so far the internet is working.

Or has the understanding of a global currency changed because we're talking about bitcoin ?

Do not mind IMF definition of global currency. The definition that has been existing before the creation of bitcoin.

[RockBell]

Being used globally doesn't mean it's a global currency because if it is indeed a global currency then it should have been already added as a legal tender but it is not so that's why many people are doubting tha Bitcoin is a global currency which is not. The reason why it is considered as a global currency is because it is used by many people around the world. To be precise, it is considered by Bitcoin users as a global currency and not global currency by government since it is not a legal tender.

To me personally I don't think it should be used as a global currency it should maintain scope it was designed for in the beginning, and I feel like there stable coins for that and to many bitcoin is meant to make things different and not spend it as money and anyone that wants to accept it as a legal tender they can but to me I will rather spend stable currencies like usdt and usdc than spend what as appreciating value so we have to choose what ever we want to do with them. And there countries that have made them to be a legal tender like El Salvador and others but is is not compulsory but it's a choice since there is is money that can be used.  And I don't think some countries will support that, as time goes on they might choose to invest.

[Kasabus]

You can't stop the people from doubting the potentials of bitcoin as a currency because as long as there are country's governments who remain pessimistic about bitcoin, the people will be divided between pro-bitcoin and anti-bitcoin.

Doubts and hesitations will only come to an end if these countries will be open to bitcoin, especially those countries who keep banning bitcoin due to personal reasons. However the good thing is, a lot of people these days are already educated about bitcoin so they can already make their own judgment about bitcoin.

[Hypnosis00]

If we will start seeing a widespread use of bitcoin as a currency, then that's the right time that we can label bitcoin as a global currency. For now, bitcoin is more identified as a global asset or investment, most especially of its high, incomparable price that continuously attract the potential investors.

I guess people will just stop doubting bitcoin when its time to, for now let's enjoy how bitcoin is changing our lives, not as a currency but as a retirement investment.

[AmoreJaz]

If we will start seeing a widespread use of bitcoin as a currency, then that's the right time that we can label bitcoin as a global currency. For now, bitcoin is more identified as a global asset or investment, most especially of its high, incomparable price that continuously attract the potential investors.

I guess people will just stop doubting bitcoin when its time to, for now let's enjoy how bitcoin is changing our lives, not as a currency but as a retirement investment.

You can't please people so what you can do is mind your own business. Enrich yourself on your own and don't bother about what other people will say because they will always say something. For bitcoin - it has been years that people have doubts, since its inception. And yet here we are, btc remains standing. So it is now up to the public how they will utilize btc for their advantage. Because like it or not, no one is stopping them to invest or get involved in this market.
But look at how btc market evolved throughout the years -
> how many countries have expressed their intent to use btc as their legal tender?
> how many big companies are already integrating btc in their payment method?
> how many big names/top personalities are openly declaring their vested interest in btc?
> and the list goes on. So think about it, what btc achieved in more than a decade is quite a feat for me.

[DeeppRockk]

If we will start seeing a widespread use of bitcoin as a currency, then that's the right time that we can label bitcoin as a global currency. For now, bitcoin is more identified as a global asset or investment, most especially of its high, incomparable price that continuously attract the potential investors.

I guess people will just stop doubting bitcoin when its time to, for now let's enjoy how bitcoin is changing our lives, not as a currency but as a retirement investment.

You cant please peiple so what you can do is mind your own business. Enrich yourself on your own and don't bother about what other people will say because they will always say something.

That's a solid point about self-reliance. Still, Bitcoin's global role isn't just about individual conviction-it's tied to real-world adoption hurdles.

Take El Salvador: their recent IMF compliance mess shows how messy this stuff gets.

Critics love pointing to these roadblocks, and dismissing all the skepticism outright might make us miss key lessons.

Both sides have valid angles, though.

[asriloni]

A currency that is a global currency is a currency that is tradeable worldwide

If your logic is working like that so gold is a global currency caused by it's trading anywhere, while the fact it's acting as a reserve asset. This is also applicable to bitcoin , which much more to be  digital gold instead of currency. Bitcoin can't be a digital reserve, inflation hedge and a currency at the same time due its nature.

[peter0425]

I'm asking this question to everyone, are you convinced if bitcoin is a global currency or not?

The simple definition of being a global currency is that it can be used anywhere no matter where you are. You can send money from country A to country B with not much trouble so I believe yes it is a global currency. Bitcoin users are not exclusive to someone from a particular country. It is not restricting. It is known globally.

[free-bit.co.in]

To me personally I don't think it should be used as a global currency it should maintain scope it was designed for in the beginning, and I feel like there stable coins for that and to many bitcoin is meant to make things different and not spend it as money and anyone that wants to accept it as a legal tender they can but to me I will rather spend stable currencies like usdt and usdc than spend what as appreciating value so we have to choose what ever we want to do with them. And there countries that have made them to be a legal tender like El Salvador and others but is is not compulsory but it's a choice since there is is money that can be used.  And I don't think some countries will support that, as time goes on they might choose to invest.

Satoshi's original purpose in creating Bitcoin was to make it a peer to peer currency, an alternative for those who were tired of the old monetary system. He did not create it with the intention of turning it into an investment.

However, considering what has happened and is happening, it is clear that Bitcoin is better suited to the role of a store of value or safe haven rather than a currency.

In fact, using Bitcoin as an asset class has already brought tremendous benefit to everyone, so we do not need to change it anymore.

[ThemePen]

Bitcoin is already successful world currency since any person can use it without bank, yet some people do not trust it yet as it is shaky in terms of price and government rules. It was shown to work in El Salvador when it was made legal money, and it was shown that country can run its economy without US Dollar. Although larger economies such as America, and the UK mostly consider Bitcoin as digital gold to keep money safe, it has already become wonderful part in sending of money across borders at low prices. In order to persuade everyone, Bitcoin must becom unit of account, with people even setting prices and earning salaries directly in Bitcoin instead of always changing it to dollars. More people use this way, more it will stop being digital property and become unforgettable, world money system.

[Out of mind]

We know that Bitcoin is an independent currency and it is now at the peak of popularity in the world, but Bitcoin is not called a global currency. Rather, Bitcoin is a digital currency that can be traded very easily worldwide, but it is not a global currency like the dollar or euro. However, if the government of a country legally accepts Bitcoin, then it is acceptable for that country, as we have seen in El Salvador, they have legally accepted Bitcoin.
Again, there are many countries that are in the process of approving it, Bitcoin is a global currency that everyone can use and get their financial freedom. However, as inflation in different countries' currencies is currently increasing, people will choose Bitcoin for investment and transactions. We know that Bitcoin is a global digital currency, but it has not yet become a legally global currency, because banks do not keep Bitcoin reserves, but if it happens in the future, then of course Bitcoin can become a global currency.

[CryptoYar]

[...]

Yes even though Satoshi Nakamoto at first made Bitcoin as digital money system, in which he hopes to use every day, market has moved it to become digital gold or safe place to put their money. This change happened due to fact that something you own usually must turn into a set way to keep value before people will spend money, and people decided to begin focusing on extreme safety and not being run by one group instead of high speeds needed in store checkout.

Being bank vault instead of credit card, Bitcoin allowed bringing in large companies and protecting people against rising prices, which shows that its current place is successful change instead of failure of original idea. Nowadays, Bitcoin can work as quick money on different level with help of new technologies such as Lightning Network, without making main system less firm as strong base of world money.

[yhiaali3]

Bitcoin is a global currency in concept and theory, yes. But, in practice, the answer is no.

In theory, Bitcoin possesses all the characteristics of a global currency and is far superior to existing global currencies like the dollar, euro, and others. But in practice, many countries still reject Bitcoin, and even governments that recognize it don't use it as a currency but rather as a strategic reserve or simply for regulatory purposes.

[fuguebtc]

Bitcoin is already successful world currency since any person can use it without bank, yet some people do not trust it yet as it is shaky in terms of price and government rules.

If we follow your argument, altcoins like ETH and BNB are also being used by people without going through a bank. So, can they also be considered global currencies?

It was shown to work in El Salvador when it was made legal money, and it was shown that country can run its economy without US Dollar.

Wrong. Although El Salvador has made bitcoin legal tender, the country has never stopped using USD. USD is still the main currency and unit of account there. They have never used bitcoin alone to run the economy.

Although larger economies such as America, and the UK mostly consider Bitcoin as digital gold to keep money safe, it has already become wonderful part in sending of money across borders at low prices.

I agree. Even if bitcoin is not recognized as a global currency, it will still be an effective cross border money transfer solution at significantly lower costs than bank

In order to persuade everyone, Bitcoin must becom unit of account, with people even setting prices and earning salaries directly in Bitcoin instead of always changing it to dollars. More people use this way, more it will stop being digital property and become unforgettable, world money system.

The problem is that the government will not allow that to happen. No business or company will dare to price goods and pay salaries directly in Bitcoin if the government prohibit it.

[ColdLava40]

I'm asking this question to everyone, are you convinced if bitcoin is a global currency or not?

For bitcoin,
global currency--- not yet

Most countries still don't accept bitcoin to be used for every day transactions. Some government are still against cryptocurrency in general. Some wants to tax it but due to certain reasons they aren't able to.. so they place complete restrictions on exchanges where people can trade crypto.

It's already being used by many big institutions and by so many people even in restricted countries, but it may take time to be completely a global currency.

In as much as the government cannot stop it(they've tried), they will have no choice in the future but to adopt it.

[davis196]

The world is full with ignorant and uneducated people. Let them argue about whatever they want. There are people, who believe that the Earth is flat. I'm not going to waste my time trying to convince them that the Earth isn't flat. Some people will always have doubts. Why do you care about people questioning the global position of Bitcoin? This is a Bitcoin forum. Posting forum threads here won't convince the skeptics that Bitcoin is a global currency. Most people here already know that Bitcoin is a truly global payment protocol. Actually, Bitcoin is more like a global financial asset rather than a global currency. Most crypto supporters don't use BTC for their daily purchases.

[The Cryptovator]

Bitcoin is a global currency but some people are doubting if bitcoin is a global currency or not, they are things we have to consider on bitcoin, especially those people who is having doubts that bitcoin is not a global currency, most of the countries in the world is making used of bitcoin for daily transactions, even a country called El Salvador made bitcoin a legal tender and since bitcoin has approved as a legal tender it still a legal tender in El Salvador till date

I want us to put a stop by doubting bitcoin as global currency, when i saw some discussion about bitcoin being a global currency and not a global currency, i was flabbergasted, and theres things we have to know that bitcoin is a global currency

Bitcoin itself is a global currency; it's all about legalisation. Because you can make transactions globally all over the world without any third party where the internet is available. But the fact is Bitcoin is either legal or illegal where you are sending. For us, whoever is involved with Bitcoin, it's a global currency for us. Even my country doesn't allow using Bitcoin but still gets payment in Bitcoin. To become globally accepted, all the countries should allow it, even if they do not accept it as a legal tender.

I really don't care about those people who still don't trust Bitcoin. Instead of thinking about haters, we must focus on global adaptation. Because day by day more countries are allowing Bitcoin since they realised the potential of Bitcoin. People doubt because all the countries do not yet support Bitcoin payment, but still we can deal with it if we use a noncustodial wallet. Wherever Bitcoin is accepted, we can make payments globally.

[viljy]

If only it were that simple. Of course, anyone can pass off their "wishlist" as fact, but this does not make the "wishlist" become fact. For example, Ray Dalio expressed an opinion opposite to what OP wrote. Widespread popularity, prevalence, application, etc. is not equal to global acceptance. So there are objective reasons that prevent this.And these 4 points as arguments for global adoption are simply not serious...