Will De-Dollarization Strengthen Bitcoin's Position as a Neutral Global Asset.

[Alpha Marine]

Which currency do you even speak off?! And what is wrong with seeing your own currency strengthen? Maybe because they want to be independent and also look for an alternative. Are you pissed Satoshi created a better currency in bitcoin? So why are you when these nations go in search for it?! Local currency is a startup. As much as direction is better than speed, it will take time but the time will most definitely come for it. People will also want to hold and use Bitcoin because of the sovereignty, freedom and privacy it gives them.

What exactly are you talking about? Where did you see me say there is anything wrong with wanting their local currency to be strong? Why would I be pissed at a country that is trying to strenthen their currency? You should at least understand what I mean before you reply.
I was only trying to point out why de-dollarisation would not strengthen Bitcoin because if countries actually move away from the dollar, they will go to a currency that benefits them, which is their own currencies and not Bitcoin.
My post was not for or against any country or their currency; it was simply trying to show how de-dollarisation will not bring a significant change in the adoption of Bitcoin.

[Cryptomultiplier]

many years now, it has been the US dollar controlling international trade and the global finance.
‎But these days, more countries have started looking for ways to reduce how they depend on dollar by using there own currency to trade.
‎this development happening now is what they call de-dollarization, this has caused discussion concerning the future of the world economy.
‎
‎Bitcoin is totally different from flat currency of different countries because no government or authority have control over it. the supply can't be more than 21 million coins, and nobody can print more Bitcoin. this are one of the reasons why people says if trust for fiat currency continues failing, Bitcoin can become a neutral global asset that everybody can use without any government or country controlling it.
‎
‎However, there's still a problem because Bitcoin price is still highly volatile in nature, no clear government regulations concerning Bitcoin in different countries and Gold and CBDCs are still competing with Bitcoin.
‎
‎what are your thoughts:
1. ‎do you think de-dollarization will make more people and country adopt Bitcoin?
2. ‎what do you think is the biggest thing stopping Bitcoin from playing a bigger role in the global economy?

Right now, Bitcoin is more like a hybrid alternative to fiat currency of any country including the dollar and it will push individuals and institutions to adopt and use it faster than it would push countries to adopt it as a legal tender because of CBDC and the fact that all the government wants is a currency they can control.

Bitcoin has yet to get to the stage of being an everyday medium of exchange or for payments, but is more like a store of value or hedge against inflation for both individuals and institutions who fear the crippling effect of inflation eating away their funds in the bank.

[BIT-BENDER]

De-dollariszation will only make those who want to preserve their wealth put their money into bitcoin if they believe in it. Some people don't still see bitcoin as a store of value overtime instead, they see it as a speculative asset.

Dedollarization has nothing to do with bitcoin adoption because it's Fiat and all Fiat loses their purchasing power overtime be it USD or your local Fiat currency.

Those who want to preserve their wealth will put it into something stable, those who wants to grow their wealth knowing that it could still be risky would put their money into Bitcoin.
Bitcoin doesn't preserve wealth it grows it even as the market is super volatile Bitcoin still very much has a high success rate of growing people's wealth.

[pooya87]

I believe it will but only a little bit, I don't expect any major movement to adopt bitcoin. Not now anyways.

Think about it, dedollarisation for the time being has been limited to the governments and central banks. Most people either don't have any money to want to invest in bitcoin or they go into the traditional markets still which means gold, stocks, real estate, etc. Some of them still deny dedollarisation.
Therefore because this is limited to governments and central banks and they don't own bitcoin (they're replacing dollar with gold), we are not about to see a major bitcoin adoption surge.

However, with dollar being abandoned there are wise people who see this and see the true potential of the only existing "money" that is a true store of value and will start buying it. The "wise people" are always a minority which is why I said I don't expect a major change.

With that said, when we see a major dollar dump in the near future when dedollarisation hits new levels, we can see the average Joes panic and start looking for alternatives. That's the time we can see people pour into the bitcoin market trying to FOMO buy.

[avp2306]

I believe it will but only a little bit, I don't expect any major movement to adopt bitcoin. Not now anyways.

Think about it, dedollarisation for the time being has been limited to the governments and central banks. Most people either don't have any money to want to invest in bitcoin or they go into the traditional markets still which means gold, stocks, real estate, etc. Some of them still deny dedollarisation.
Therefore because this is limited to governments and central banks and they don't own bitcoin (they're replacing dollar with gold), we are not about to see a major bitcoin adoption surge.

However, with dollar being abandoned there are wise people who see this and see the true potential of the only existing "money" that is a true store of value and will start buying it. The "wise people" are always a minority which is why I said I don't expect a major change.

With that said, when we see a major dollar dump in the near future when dedollarisation hits new levels, we can see the average Joes panic and start looking for alternatives. That's the time we can see people pour into the bitcoin market trying to FOMO buy.

Well not surprising if they choose gold over Bitcoin, because lots of them still thinks traditional and what they only knew is Gold still the best while the fact Bitcoin is raising and have same good potential with gold. But their view will slowly change if adoption rate raise up then lots of their normal people buys it. Government will provably adopt if they see some big changes happened.

Also once there's instability happened and look for an asset to grab then them make it as practical escape  for their dying USD. Then Bitcoin is no doubt best asset to have as alternative.

Somehow there are great article that tackle this topic maybe you are interested to read this moomoo.com/news/post/52691496/will-bitcoin-benefit-from-the-weakening-of-the-usd also https://www.binance.com/en/square/post/334797591341361

[MArsland]

‎However, there's still a problem because Bitcoin price is still highly volatile in nature, no clear government regulations concerning Bitcoin in different countries and Gold and CBDCs are still competing with Bitcoin.
‎
‎what are your thoughts:
1. ‎do you think de-dollarization will make more people and country adopt Bitcoin?
2. ‎what do you think is the biggest thing stopping Bitcoin from playing a bigger role in the global economy?

Countries will most likely focus more on strengthening their finances using their own currencies, their main priority will be to maintain the value of their fiat currencies, instead of choosing to adopt Bitcoin. This is especially true for countries that have a wealth of sustainable natural resources, which can use these assets as the main bargaining chip with countries that do not hav sufficient resources.
The most significant potential barriers to Bitcoin stem from the parties holding the largest supply, after all who exactly is the main entity controlling the Bitcoins currently in circulation?
Although the Bitcoin network itself is decentralized, the current distribution of Bitcoin ownership is not completely decentralized.

[lombok]

‎However, there's still a problem because Bitcoin price is still highly volatile in nature, no clear government regulations concerning Bitcoin in different countries and Gold and CBDCs are still competing with Bitcoin.
‎
‎what are your thoughts:
1. ‎do you think de-dollarization will make more people and country adopt Bitcoin?
2. ‎what do you think is the biggest thing stopping Bitcoin from playing a bigger role in the global economy?

Countries will most likely focus more on strengthening their finances using their own currencies, their main priority will be to maintain the value of their fiat currencies, instead of choosing to adopt Bitcoin. This is especially true for countries that have a wealth of sustainable natural resources, which can use these assets as the main bargaining chip with countries that do not hav sufficient resources.
The most significant potential barriers to Bitcoin stem from the parties holding the largest supply, after all who exactly is the main entity controlling the Bitcoins currently in circulation?
Although the Bitcoin network itself is decentralized, the current distribution of Bitcoin ownership is not completely decentralized.

It is natural that each country should have full control over its official financial system. Through natural resources as the security in trade is much more comfortable than having to use the illegal virtual property. Concerns over digital coins are compounded when it is made obvious that a considerable amount of supply lies in the hands of a few people. This unequal participation in ownership is a huge challenge towards the popularization of new technologies.

[DiMarxist]

‎what are your thoughts:
1. ‎do you think de-dollarization will make more people and country adopt Bitcoin?
2. ‎what do you think is the biggest thing stopping Bitcoin from playing a bigger role in the global economy?

I don't that, De dollarisation is the reason why countries will choose Bitcoin. De-Dollarization has been a concept that has been there over the years,  most world leaders of the past have been of the Idea that the dollar is having dominance over other  currencies and that America is profiting over this.

Efforts where made to see that they see an end to it, but were not just successful about it. And with the coming of Bitcoin most countries has seen an opportunity to use it, over the dollar knowing well that no body has control over Bitcoin unlike the dollar.

The use of Bitcoin has been accepted by all and is gaining more, attention due to the fact that it has immercially benefiting them because Bitcoin as an asset is one that come out to be trusted by alot of people all over the world. Because of it's neutrality that it has.

[CryptopreneurBrainboss]

what are your thoughts:
1. ‎do you think de-dollarization will make more people and country adopt Bitcoin?
2. ‎what do you think is the biggest thing stopping Bitcoin from playing a bigger role in the global economy?

No I don't think it'll instead another currency is likely going to take over. Being realistic here as I know I'm supposed to be glazing Bitcoin to take over but I think it's not time for that to happen because we still have some things we need to put in place before that happens.

What I think is stopping the adoption of Bitcoin is it's volatility, many business owners rendering services or selling goods don't want to risk it yet and that's why they're staying away from adopting Bitcoin. The moment we can get some level of stability in the market then we might begin to see rapid adoption happening and then we can begin to think about world dominations.

If the dollars losses its position and Bitcoin was to step in right away, Bitcoin decentralization principle might be lost as we get overwhelmed by the world politics in accepting Bitcoin as the world currency. It's better things are done slowly instead of Bitcoin rushing into a position that will destroy it instead of strengthening it.

[Kavelj22]

‎
‎what are your thoughts:
1. ‎do you think de-dollarization will make more people and country adopt Bitcoin?
2. ‎what do you think is the biggest thing stopping Bitcoin from playing a bigger role in the global economy?

1. Yes
2. No

The dominance of dollar is preventing any other asset to be a global neutral asset. Even gold and precious metals are price determined in dollar. However for bitcoin, it is only one factor but not the main reason because bitcoin is already acting as a neutral global asset. The dollar. While de-dollarization aims to get rid of the dominance of the US dollar, it still hasn't an alternative that can replace the dollar as the currency if the world. Actually bitcoin is their best option due to its decentralized nature.

[WillyAp]

1. Yes
2. No

The dominance of dollar is preventing any other asset to be a global neutral asset.

How does the $ prevent other currencies to surge?
Bitcoin without the $ has no value. No crypto has value without their counterpart.

[BlackHatCoiner]

1. The governments aren't ditching the USD because they suddenly woke up and fell in love with decentralization; they're ditching it because they want to be the ones holding the leash. If you think these countries are going to replace the dollar with an asset they can't endlessly print, I have some magic beans to sell you.
2. The biggest roadblock is that politicians and bankers can't print 10 trillion BTC out of thin air to fund the current circus.

[justdimin]

De-dollariszation will only make those who want to preserve their wealth put their money into bitcoin if they believe in it. Some people don't still see bitcoin as a store of value overtime instead, they see it as a speculative asset.

Dedollarization has nothing to do with bitcoin adoption because it's Fiat and all Fiat loses their purchasing power overtime be it USD or your local Fiat currency.

Those who want to preserve their wealth will put it into something stable, those who wants to grow their wealth knowing that it could still be risky would put their money into Bitcoin.
Bitcoin doesn't preserve wealth it grows it even as the market is super volatile Bitcoin still very much has a high success rate of growing people's wealth.

The thing about "value" that people miss is that they think Bitcoin is a safe haven that would make you not lose value. So if you can buy 1 X with 1 Bitcoin, then in the future they just hope to have 1 X for 1 Bitcoin again. That would mean that Bitcoin never lost value while fiat did,  because what you paid 5 years ago was a lot less than today; today you pay a lot more in fiat.

However, what people are missing is that you are not going to even be able to do that; you are going to literally pay less with Bitcoin. If 1 X is 1 Bitcoin today, in the future 1 X will be 0.5 Bitcoins. So the value of Bitcoin grows faster than the price of it. Inflation is beaten, and we are growing at a high speed. Sure, we are in a bear market right now, but if you zoom out, every 4 years, we have all time high, and that high would solve the problems of a bear.

[Emjay24]

Countries know the value of Bitcoin; they are too afraid to fully embrace it, and it’s mostly common and used by those countries when they want to bypass sanctions but not as an official trade symbol.

Governments are afraid to approve the usage of a currency they cannot directly control and manipulate. The volatility in Bitcoin is also scary for them, more reason they treat it as a speculative asset. I think Bitcoin can stand a chance if it's volatility reduces more down the road. Many countries are tired of using the dollar, but they cannot still find it's replacement that other trade partners can relate with effectively. Bitcoin can come in handy, but the governments are too selfish to focus on it.

As long as anyone is allowed to conduct a trade wherever they want without being stopped, I think we should be cool with that and not be seeking bitcoin to control a large portion of the world economy.

Not anyone can use such a privilege, especially those living in restricted countries. Bitcoin would gain more traction if most restricted countries unban it. Allowing Bitcoin to be used in most countries would be fine, they see Bitcoin as the problem while it's actually a solution to fiat shortcomings.

[trendcoin]

...
‎what are your thoughts:
1. ‎do you think de-dollarization will make more people and country adopt Bitcoin?

Definitely, de-dollarization will mean greater adoption of Bitcoin for more people. However, I can’t say the same for countries. Governments are opposed to the U.S. dollar but instead support their own fiat currencies. Only extraordinary figures like Bukele enable Bitcoin adoption at the national level, but even they do so for other reasons...

Above all, since Bitcoin represents decentralization and governments represent centralized authority, it’s not very realistic to expect them to work in perfect harmony at the same time...

[lombok]

...
‎what are your thoughts:
1. ‎do you think de-dollarization will make more people and country adopt Bitcoin?

Definitely, de-dollarization will mean greater adoption of Bitcoin for more people. However, I can’t say the same for countries. Governments are opposed to the U.S. dollar but instead support their own fiat currencies. Only extraordinary figures like Bukele enable Bitcoin adoption at the national level, but even they do so for other reasons...

Above all, since Bitcoin represents decentralization and governments represent centralized authority, it’s not very realistic to expect them to work in perfect harmony at the same time...

The rejection of major world currencies does not always make all governments adopt digital coins. The governments of the regions will definitely want to keep up their right towards printing money to manage the daily economy. The measures to accommodate digital coins at national level are typically the fruit of dire necessities or peculiar politics.

The very nature of the digital coins which are unsupervised confronts a highly controlled government. Without the intervention capacity, State financial institutions cannot afford to rein full control of open technology. Freedom of digital transactions and regulation of the power will never allow the complete integration of the two systems.

[Josefjix]

2. ‎what do you think is the biggest thing stopping Bitcoin from playing a bigger role in the global economy?

The biggest problem behind Bitcoin usage as global economy is the fluctuation issue, the ability of Bitcoin fluctuating in price will be a biggest set back into adopting it as a global adopted currency, it's gonna cause a lot of problems between buyers and sellers of goods and services. A seller might set up a price and then receive a less value after the transaction had been made by buyers. Sometimes a buyer might not pay for a product because the transfer fee is pretty high at that moment.

[SUPERSAIAN]

I don't think Bitcoin will become a widely used payment method in daily life. In my opinion, Bitcoin's real strength lies in its function as a store of value. Its limited supply, lack of control by a central authority, and absence of a money printing mechanism distinguish it from traditional currencies, but I don't think it will become very common in daily payments. While the dollar still holds a very large share of the global economy, it has lost much of its influence in recent years. I believe that in the future, instead of a single global reserve currency, a different system might emerge.

Countries could develop their own digital currencies, transforming their financial infrastructure, and utilize different payment systems more extensively in international trade. Perhaps, instead of a single currency controlling the world economy, we could see a more balanced financial order where many powerful digital currencies coexist.

[Tamaperdana]

1. ‎do you think de-dollarization will make more people and country adopt Bitcoin?

Yes, it's possible, but the potential doesn't seem very significant at this point. Basically, it seems like most countries want their own currencies to be superior. So, they'll likely use their fiat currencies rather than Bitcoin for now. In El Salvador, even though Bitcoin has been made legal tender, the country's original currency still exists and is used. Therefore, it can be concluded that Bitcoin will be quite difficult to establish as a permanent currency in a country. Essentially, there are still several obstacles preventing this from happening.

2. ‎what do you think is the biggest thing stopping Bitcoin from playing a bigger role in the global economy?

As you've said, Bitcoin's price is clearly still highly volatile right now. I think that's the biggest obstacle. If a currency fluctuates too quickly, it's clearly not good. Therefore, I believe Bitcoin is currently better viewed as an investment asset rather than a national currency. It's clearly proven to be effective. However, if a country were to take the same steps as El Salvador, that would certainly be a good thing. But, yes, so far, I don't think anyone else has dared to take this action.