People is doubting Bitcoin being a global currency

[Smack That Ace]

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?

This will depend on how you define global currency. If it is simply used by people in many countries and by a small group for certain cross border transaction. Bitcoin has become a global currency

However, in the traditional sense, a global currency need to meet criteria such as being used as a unit of account, being a widely accepted method of payment or being added to national reserves. Clearly, Bitcoin is not a global currency. To date, the USD is the only global currency.

[YOSHIE]

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

Actually, your question is easy to understand, why Bitcoin cannot be made a global currency.
The reason is simple, we can take the example of the current country of Iran, which is in the news that states.

Without internet access, Iranians will face much greater difficulty transacting using cryptocurrencies. However, a number of currently available technologies are still considered to be alternative solutions.

Although, we know there are other alternatives such as.

One of them is Elon Musk's Starlink satellite internet device, which is capable of providing high-speed internet access in areas previously unserved by conventional networks.

But still:

However, in the end it still requires at least one device connected to the internet so that the transaction can be confirmed and recorded on-chain on the blockchain.

Here we can draw one conclusion, internet access is your main weapon, being able to enter the crypto market and being able to access Bitcoin, if like what happened in Iran, it happens globally or in several countries, for example it also happens in your country, Of course you can't do anything, that's why Bitcoin can't be made a global currency, without the internet without Bitcoin, countries and governments don't want to take risks.

[rezakurnia66]

In my opinion is normally many people is doubting bitcoin being a global currency transaction because few percent nation legalizing bitcoin as payment for nowadays, El Savador become the first and most influence nation have adopted bitcoin as legal cryptocurrency and many top nation against if bitcoin become legalizing as payment way. How to avoid many people doubting bitcoin become global currency if have several top nation maybe United State, England and top Europe nation want to adopt and legalizing bitcoin.
I don't really care how many people still doubting with bitcoin because my real decision bitcoin not only the best way as currency but also most profitable assets for investing, don't worry about many people still doubt with bitcoin as the most friendly global currency transaction.

[Peanutswar]

I do consider the use of the Bitcoin as a global currency not a physical like we have in our country but as a digital coin. Bitcoin already doing like the digital currency we are using like in the banks. Some of the countries already accepted the use of the bitcoin can be in a payment, in salary, investment and etc. But of course there's a regulation in the country that they cannot replace the use of their own local currencies and change with the bitcoin. Its a volatile crypto coin and the government does not want a coin or money that they dont have a full control. Again bitcoin is a decentralized thats why it form because they wanted to avoid the governments retrictions. So they can support the bitcoin but they cant replace with bitcoin.

[ultrloa]

I do consider the use of the Bitcoin as a global currency not a physical like we have in our country but as a digital coin. Bitcoin already doing like the digital currency we are using like in the banks. Some of the countries already accepted the use of the bitcoin can be in a payment, in salary, investment and etc. But of course there's a regulation in the country that they cannot replace the use of their own local currencies and change with the bitcoin. Its a volatile crypto coin and the government does not want a coin or money that they dont have a full control. Again bitcoin is a decentralized thats why it form because they wanted to avoid the governments retrictions. So they can support the bitcoin but they cant replace with bitcoin.

I'm considering it as like that since we can actually pay Bitcoin to whatever things we need. Bitcoin global acceptance is already happening so I really don't get on why there are people still doubting about this possibilities.

Maybe they are over expose on investment risk and they only take those negative information also sentiments, that's why they get scare to try this coin.

But also for thinking about it can replace fiat? Well this provably not gonna happen knowing that lots of people in government side would prefer to retain their fiats rather than choosing Bitcoin which they can't control.

[SatyamGupta212]

The disagreement in this thread comes from mixing three different roles Bitcoin plays and expecting one label to cover all of them.

Bitcoin failed at being a state currency. It was never designed to win legal-tender status country by country, and recent reversals (El Salvador, CAR) confirm that governments will protect monetary control. Expecting Bitcoin to become a USD-style global legal currency is the wrong benchmark.

Where Bitcoin did succeed is more subtle and more important:
it became a global settlement layer. Anyone, anywhere, can move value across borders without permission. That already makes it global in function, even if not in law. Gold needed banks and states to move; Bitcoin doesn’t.

The broken assumption here is that currency legitimacy must come from governments. In practice, legitimacy now comes from usage and infrastructure, not proclamations.

This is where the transition is happening.

Bitcoin is no longer trying to be “what fiat is.” Instead, it’s becoming the base asset, while programmable applications sit on top of blockchains to handle payments, lending, trading, and real-world use cases. That’s why attention has shifted from debating “is BTC money?” to building decentralized applications that actually use crypto rails.

The market already answered the question.
The debate is catching up.

For teams building products on top of this reality, not ideology, this is why application-layer development matters more than arguing definitions.
https://blockchain.oodles.io/dapp-development-company/?utm_source=bitcointalk&utm_id=2444

[suzanne5223]

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.

Thank you for making this point.
Because some Bitcoiners are missing the fact that Bitcoin don't need to be assign by every government as legal tender before it could a global currency, and if we look at the concept of Bitcoin (which is the decentralization, consensus and algorithms mechanism).
Bitcoin is technically a global currency right from creation, and even every government in the world ban it (which we know it's totally impossible) it will never seized to be the global currency.

[DanWalker]

I'm considering it as like that since we can actually pay Bitcoin to whatever things we need. Bitcoin global acceptance is already happening so I really don't get on why there are people still doubting about this possibilities.

Maybe they are over expose on investment risk and they only take those negative information also sentiments, that's why they get scare to try this coin.

But also for thinking about it can replace fiat? Well this provably not gonna happen knowing that lots of people in government side would prefer to retain their fiats rather than choosing Bitcoin which they can't control.

You can only use bitcoin to pay for anything you need if you are from El Salvador. If you do not live there, you almost certainly will not be able to use bitcoin to directly pay your daily bills. Then you need to go through a payment processor, and it is no longer strictly a bitcoin payment. 

The reality is that Bitcoin is not used to price goods, is not a measure of value in the economy. Therefore, it is not wrong to say that it is not yet a global currency at the present stage

And of course, it will never be able to replace Fiat because it was not created to do that.

[Mahiyammahi]

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

For the current situation deal Bitcoin as an asset not a global currency. As for asset you can trade it in any country you may like but for the global currency it should accept in every country , but for the bitcoin it's not accepted overall in the world. In my region it's not approved by government.

Bitcoin has the potential to replace our traditional Fiat currency, so the chance's are high.  Just imagine bitcoin has accepted in every corner of the world what would be the prices to hit for bitcoin.

[Razmirraz]

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?

To become a global currency, Bitcoin must meet several fundamental requirements. For Bitcoin to become a global currency, its price fluctuations must be low enough to be trusted as a stable store of value. Currently, Bitcoin remains too volatile as a standard everyday unit of measurement. Bitcoin also needs larger institutional support to reach that level, although El Salvador has already recognized Bitcoin as legal tender in their country, it needs recognition from the central bank as part of their foreign exchange reserves.

El Salvador has also taken a wise step for the future advancement of Bitcoin as a global currency, but it will take more support from other countries to follow El Salvador lead in recognizing Bitcoin as legal tender, the greater the support the greater the chance of Bitcoin becoming a global currency. I see Bitcoin changing the global financial landscape, but it is still too early to call Bitcoin a global currency, even though its role in international trade is increasing, it still faces major obstacles to becoming a global currency.

From my perspective, the ideal scenario right now is for Bitcoin to coexist with fiat currencies as a parallel system that can be used for certain transactions, but fiat currencies are not going away, at least for the next few years, because governments will not easily relinquish their control, especially those countries that profit greatly from their currency's dominance in trade.

[betswift]

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

For the current situation deal Bitcoin as an asset not a global currency. As for asset you can trade it in any country you may like but for the global currency it should accept in every country , but for the bitcoin it's not accepted overall in the world. In my region it's not approved by government.

Bitcoin has the potential to replace our traditional Fiat currency, so the chance's are high.  Just imagine bitcoin has accepted in every corner of the world what would be the prices to hit for bitcoin.

That would the next phase of the adoption.

That big price tag on BTC would mean volatility becoming obsolete.. making the idea of it becoming a true currency worldwide more apropriate for different entities and people alike.

[Dunamisx]

It is of human nature to doubt on each other, not even on what is being decentralized and that cannot be traced to individuals capacity, since bitcoin has been introduced, some have genuinely adopted it, while some are still not considering for it adoption because they don't trust the network, thinking of the same way as the ponzi scam have been, but here we are today, things are only getting more better with bitcoin adoption and already a global currency without denial.

[macson]

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

Bitcoin's status as a global currency isn't due to regulation, but rather because it can be used by anyone worldwide to send and receive value without permission and without geographical restrictions, as long as they have internet access. It doesn't require legal tender to be considered a global currency, rather, it relies on usability and trust in its value. Therefore, Bitcoin remains a global currency, regardless of its legal tender status in any country.

[john_egbert]

It is of human nature to doubt on each other, not even on what is being decentralized and that cannot be traced to individuals capacity, since bitcoin has been introduced, some have genuinely adopted it, while some are still not considering for it adoption because they don't trust the network, thinking of the same way as the ponzi scam have been, but here we are today, things are only getting more better with bitcoin adoption and already a global currency without denial.

People see more pros than cons due to every factor lining up nicely.

And the more we move forward, the more appealing BTC will get due to the fiat not being more valuable, but on the contrary - worse and worse.

[hd49728]

Bitcoin's status as a global currency isn't due to regulation, but rather because it can be used by anyone worldwide to send and receive value without permission and without geographical restrictions, as long as they have internet access. It doesn't require legal tender to be considered a global currency, rather, it relies on usability and trust in its value. Therefore, Bitcoin remains a global currency, regardless of its legal tender status in any country.

Without a good legal status globally, people can use Bitcoin for transactions with each other, borderless, but it's unsafe if they are living in nations where Bitcoin related activities are considered as illegal. It's a little bit better if it is allegal but the best condition for using Bitcoin is a legal status in their nations.

This cryptocurrency legality map does not show all things that are happening globally but in general we can easily see that legality status for Bitcoin and cryptocurrency has become better with time. The time for being a global currency for Bitcoin in legal term will not be too far, let's time flies and we will have it in the near future.
https://newhedge.io/terminal/bitcoin/legality-map

[BALIK]

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

Bitcoin's status as a global currency isn't due to regulation, but rather because it can be used by anyone worldwide to send and receive value without permission and without geographical restrictions, as long as they have internet access. It doesn't require legal tender to be considered a global currency, rather, it relies on usability and trust in its value. Therefore, Bitcoin remains a global currency, regardless of its legal tender status in any country.

If we ignore regulation, legality, and dont need for governmental and global recognition. Not only Bitcoin, but many other crypto can also be considered global currencies. Because Bitcoin is not the only currency people are using for their transaction. Instead of Bitcoin, many people are using LTC, XMR, or even DOGE for their transactions for a variety of reasons

We need to acknowledge that Bitcoin has not reached that level yet, it is not a global currency. However, there is still a chance to achieve that because the adoption process is still ongoing.

[SeriouslyGiveaway]

If we ignore regulation, legality, and dont need for governmental and global recognition. Not only Bitcoin, but many other crypto can also be considered global currencies. Because Bitcoin is not the only currency people are using for their transaction. Instead of Bitcoin, many people are using LTC, XMR, or even DOGE for their transactions for a variety of reasons

We need to acknowledge that Bitcoin has not reached that level yet, it is not a global currency. However, there is still a chance to achieve that because the adoption process is still ongoing.

Being accepted legally and used practically as global currencies is something bigger and it's not as simple as if there are people accept and use Bitcoin or any altcoin globally, it will be considered as a global currency already. If it is like this, many cryptocurrencies already meet conditions to become global currencies while in fact even the biggest cryptocurrency, Bitcoin, has yet been considered as a global currency.

Fortunately, the blockchain adoption, Bitcoin adoption, and altcoin adoption have all been very strongly bullish grown with time. This gives us very bright future of this industry and in the future, they will be used more popularly and will be accepted legally in more nations.

[Queen uloma]

Many people doubt Bitcoin for being a global currency, because they don't have good knowledge about it, some doubt it because of how the price is not certain, since it's goes up and down, this is the major reason why people don't use it as their daily spending in times of daily transactions, government doesn't really support it, that's why most countries restrict their citizens from using it, most old people are use to banks, so telling them about Bitcoin sounds like a scam, just like my dad he will never invest or do transaction with Bitcoin, because he thinks it's not real, that's how some people are there are.

[Maslate]

If you know what global currency stands and you have seen the real function of bitcoin, not just as an investment but as a currency as well, then you will never doubt if bitcoin is already a global currency or not.

I, myself has even doubted bitcoin before but when government of different countries allow bitcoin to perform international transactions, that's when bitcoin turns into a global currency.  It does not mean to be a legal tender to become a global currency, but if its transactions have reached borderless, that's how a global currency is.

[serjent05]

Bitcoin's status as a global currency isn't due to regulation, but rather because it can be used by anyone worldwide to send and receive value without permission and without geographical restrictions, as long as they have internet access. It doesn't require legal tender to be considered a global currency, rather, it relies on usability and trust in its value. Therefore, Bitcoin remains a global currency, regardless of its legal tender status in any country.

Even if it can be transferred globally, if there is no stores that accept it, it can't be considered a global currency, it will be just a code that can be transferred from one person to another.  What makes Bitcoin a global currency is the merchants who are willing to accept it as a mode of payment.

I agree that Bitcoin does not need to be a legal tender to be a global currency, it just needs to be acknowledged as a mode of payment in different countries.

If we ignore regulation, legality, and dont need for governmental and global recognition. Not only Bitcoin, but many other crypto can also be considered global currencies. Because Bitcoin is not the only currency people are using for their transaction. Instead of Bitcoin, many people are using LTC, XMR, or even DOGE for their transactions for a variety of reasons

We need to acknowledge that Bitcoin has not reached that level yet, it is not a global currency. However, there is still a chance to achieve that because the adoption process is still ongoing.

For me, as long as any cryptocurrency is used as payment for global transactions, it can be considered a global currency. If other altcoins do meet the criteria of a global currency, why deny them of such label?