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

[viljy]

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

No.

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

In order to become a global asset, first of all, it is necessary to become a neutral asset. There are two obstacles to this. The vast majority of miners are in the US jurisdiction; the vast majority of coin holders are located there. Thus, it is primarily an American asset. Why is that? - You may ask. Because the government can put legal, political, or fiscal pressure on both miners and asset owners. And this will definitely affect the asset itself. For example, it affects price, accessibility, prohibitions, etc.

The second obstacle is more serious. Globalism is over. And with it, the global financial system is dying. Wallerstein predicted this in the early 90s, that is, more than 30 years ago. By the way, he predicted the destruction of the USSR and the restoration of capitalism back in the 70s, when no one believed in it. So his predictions are not empty words.

[BitBakerr1]

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.

You are correct, bitcoin does not preserve wealth or money. It grows it. All you need to do is to have patience and watch your money grow.
Those who want to grow their money are the ones investing in bitcoin, if you want to preserve your money, there’s no point coming to bitcoin or investing in bitcoin because bitcoin grows money.
I believe no reasonable and financially intelligent person will want to preserve his money. Everyone that is reasonable and financially intelligent will always want to grow their money, and that is why those who are investing in bitcoin are the smart ones because they are preserving and growing their money at the same time.

[Taricoins]

The only way I see De-dollarization help strengthen Bitcoin global adoption for trade between different countries is if all the countries involved are formed under one government, the push for De-dollarization is aimed at promoting individual fiat currency rather than one and placing Bitcoin on that pedestal is giving one man the power to shake the entire world economy. What am trying to say is when one dominant fiat currency drops, another takes its place, greed won't make everyone neutral unless there is a third party involved.

[CryptoBuds]

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.

Volatility and fee are certainly among the obstacles to Bitcoin being adopted and used as a global currency. However, I do not think they are the biggest obstacle. IMO, governments are the biggest barrier because they are unlikely to accept a currency they cannot control.

Even if Bitcoin become more stable, government still will not allow it to become a widely used currency that replaces fiat. Losing control over currency and economy is something government would never be willing to accept.

[Kavelj22]

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.

Either bitcoin or any other product, why it should always be valued in US dollar? Yes it has no value without their counterpart but why the counterpart should be in USD in particular? Well the answer is quite simple, it is because the USD is determined as the currency of the actual global market. And this is where dwells the evil. The dominance of the dollar is the reason, but it is not the sole counterpart that can be used. If we eliminate the USD from the global economy tomorrow, bitcoin won't lose its value.

Same with other currencies, they all become stuck with the US currency at the point it becomes a real nightmare that threatens their existence. Bitcoin is performing well better than all of the currencies that is value derived with or without USD.

[Franklyn-wood]

The only way I see De-dollarization help strengthen Bitcoin global adoption for trade between different countries is if all the countries involved are formed under one government, the push for De-dollarization is aimed at promoting individual fiat currency rather than one and placing Bitcoin on that pedestal is giving one man the power to shake the entire world economy. What am trying to say is when one dominant fiat currency drops, another takes its place, greed won't make everyone neutral unless there is a third party involved.

De dolarization only helps the all currency in the world be in competition and also to leverage them for economic development
If eventually all the countries come together to use one currency the debate to who to print the money will be there then how to share the benefits that comes from the interest also will be a rising matter.
So it is good that there is de dolarization as it also helps in the speculation of Bitcoin rise and fall and give a moderate stability because is it standardized form and acceptance in the global economy.

[Kryptowerk]

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.
[...]
‎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?

With the extreme globalization that has taken place over the last decade or so, I believe the world is even more in need of a borderless value system. With USD slowly losing its role as the massive "market leader" I actually believe there will be a slightly positive effect coming from this trend.
However, long-term-perspective (meaning thinking in decades) I don't think it matters much - Bitcoin slowly but surely penetrates the global market and technologies. As long as the current issues of centralized fiat are not resolved, Bitcoin's success is inevitable - independent from what's happening with the USD.

[davis196]

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.Absolutely not. De-dollarization would make the big countries use their national currencies instead of the US dollar. For instance, the Chinese yuan is being used by Russia and Saudi Arabia, when they trade with China. It has been already proven, that the process of de-dollarization won't lead to mass Bitcoin and crypto adoption.
2.The biggest thing stopping BTC from playing a major role in the global economy is the lack of a global superpower, that would fully support BTC and enforce Bitcoin as a payment method in the international trade. The big superpowers would always support their own national fiat currencies(or CBDCs), because this benefits them directly. The USA has no incentive to support Bitcoin as a global payment method.

[Arenga pinnata]

‎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?

Actually, it’s not just a matter of de-dollarization; if this also happens to other currencies in other countries, I’m convinced that this, too, will lead to a decline in people’s trust in fiat currencies. So what I mean is, when confidence in fiat currencies declines, guess what will happen? In my opinion, everyone will look for alternatives to safeguard their assets. And for those who understand the importance of digital assets, they’ll choose Bitcoin as one of their options. Although I think gold will likely dominate the market, since it already has a proven track record of strength. But Bitcoin will certainly be positively impacted as well.

As for why Bitcoin is still held back from playing a larger role in the global economy, I think we all know the reasons: regulation and its highly volatile price. Additionally, right now, most people view Bitcoin more as an investment asset than as a medium of exchange. But as Bitcoin’s adoption continues to expand, I believe it will play a significant role in the global economy in the future, especially as more countries begin to adopt Bitcoin.

[Kelward]

If we ask ourselves the impact of Bitcoin so far since the agitation of De-Dollarization you can agree that it hasn't yielded much results because other powerful countries like China, Britain, and Russia would prefer their traditional currencies to replace the USD in globally recognized currency. You can also see the push for BRICS amalgamation which is not yet yielding it's desired aim but it shows you that many countries are not fully embracing a decentralized digital currency to replace the influence of USD. For Bitcoin to breakthrough to become a replacement for De-Dollarization it would be easy to achieve through private business deals where peer to peer transactions will become popular and if the adoption grows then it would impact the replacement of USD where Bitcoin would be at the top.

[Leahized]

Either bitcoin or any other product, why it should always be valued in US dollar? Yes it has no value without their counterpart but why the counterpart should be in USD in particular? Well the answer is quite simple, it is because the USD is determined as the currency of the actual global market. And this is where dwells the evil. The dominance of the dollar is the reason, but it is not the sole counterpart that can be used. If we eliminate the USD from the global economy tomorrow, bitcoin won't lose its value.

The USD dollar is the only one used in the foreign market and the biggest role behind it is diplomatic politics. Moreover, many states opposed it but were later brutally and relentlessly attacked. In my opinion the foreign market should use only dollar as well as other metals. This will reduce the dominance of the dollar to some extent. however, i don't want to go this way. But if the dollar is removed from the economic market, Bitcoin will lose a lot of value because in my opinion it will be the biggest economic fallout.

[suzanne5223]

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

I see de-dollarization strengthening the position of Bitcoin in the global asset space over time due to how most countries that make this decision always turn to BTC for payment to bypass Western restrictions. An example is Russia, when they legalized BTC payments for foreign trade. Iran also does the same thing for their Strait of Hormuz ship payments. However, BTC strengthen it's position as a neutral global asset is something that will happen gradually, though.

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

I believe it is the core principle of BTC, especially the sovereignty and censorship resistance

[Fiatless]

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.

The global financial system is structured to be controlled by a centralized currency. The government will always want to print money to cushion the effect of financial mismanagement. Therefore, Bitcoin, being a decentralised currency, will not be attractive to governmental institutions. The dollar has established itself as the major currency, and it will take some decades to lose its dominance. Bitcoin would be a good alternative if it becomes more stable. However, I believe that countries will prefer to promote their local currency in international trade rather than use a currency they can't control.

[Opiate32]

Yes de-dollarization could strengthen BTC position but it does not automatically meant that the government will adopt it, simply because a country may want to reduce its independence on the dollar while still preferring currency that it can controls.
The bigger obstacle in my opinion is not simply volatility but trust and practical usability. For BTC to play a major role in global trade, businesses and governments need to be comfortable using it for transaction not just holding it as an investment.

So I see de-dollarization as something that could create more room for BTC but BTC would still have to prove that it can fill that role.

[lionheart78]

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

I do not think de-dollarization will make more people and country adopt Bitcoin.  If there is a change, I think a government will further push their fiat currency to strengthen their economic system.  People may look at Bitcoin as a potential investment, but de-dollarization, I think, will not make these people have more interest in Bitcoin.

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

The government and the feature of Bitcoin being decentralized in nature.  Although Bitcoin decentralized feature is one that attracts people interest, the government hates decentralization because they cannot control something that is decentralized.

[Fiatless]

Yes de-dollarization could strengthen BTC position but it does not automatically meant that the government will adopt it, simply because a country may want to reduce its independence on the dollar while still preferring currency that it can controls.
The bigger obstacle in my opinion is not simply volatility but trust and practical usability. For BTC to play a major role in global trade, businesses and governments need to be comfortable using it for transaction not just holding it as an investment.

So I see de-dollarization as something that could create more room for BTC but BTC would still have to prove that it can fill that role.

In terms of trust, the Bitcoin system is better. It has more security than many centralised financial systems. Practical usability can grow over time if certain conditions are in place. One of them is stability. The reason why the US dollar is highly accepted in international trade is its stability. Many businesses will start accepting Bitcoin if the price becomes less volatile. Then, at that point, Bitcoin will no longer be very profitable for investors. 

Bitcoin is money and can perform all the functions of the dollar. But nations will prefer to use a centralized currency for foreign trade because they want to be in control of the monetary sector.

[Abiky]

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?

I don't think de-dollarization will make more countries (and people) adopt Bitcoin. Especially when BTC is a decentralized cryptocurrency. It's beneficial for the people, but not convenient for the government. Because if countries ditch the USD in favor of something they can't control, then what use would it be? It's all about power/control.

What de-dollarization will do is force everyone to adopt alternative Fiat currencies. Probably, big ones like the Euro or the Chinese Yuan. If there's one thing that's stopping Bitcoin from playing a bigger role in the global economy, it's the government itself. Bankers, too. They're powerful entities that don't want to lose dominance in the economy. Letting Bitcoin take over, means giving power back to the people. Not happening now or in the distant future. We just need to learn how to live with this.

[fruktik]

Why look far? We have a real-life example right before our eyes? Which one? It's El Salvador. Bitcoin became the official currency there. And what happened next? No one really uses it. Everyone prefers to pay in dollars. Looking at the situation as a whole, this idea turned out to be a failure. As long as the first cryptocurrency is volatile, no one will consider it as an alternative payment method. The exchange rate must be stable over a long period of time. Only then is there any chance of widespread adoption.

[Swordsoffreedom]

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.

You are correct, bitcoin does not preserve wealth or money. It grows it. All you need to do is to have patience and watch your money grow.
Those who want to grow their money are the ones investing in bitcoin, if you want to preserve your money, there’s no point coming to bitcoin or investing in bitcoin because bitcoin grows money.
I believe no reasonable and financially intelligent person will want to preserve his money. Everyone that is reasonable and financially intelligent will always want to grow their money, and that is why those who are investing in bitcoin are the smart ones because they are preserving and growing their money at the same time.

Can you name an asset or investment that can preserve wealth without generating any return? As far as I know, there is hardly any asset like that.

A person wanting to preserve their assets doesn't mean they don't want to increase them.

Bitcoin can help grow your wealth, but it can also drop 50%-70% in a cycle. So I also don't agree with saying that people who prioritize wealth preservation are financially unintelligent. Trust me, once you've built up a large amount of wealth, protecting it can sometime be more important than trying to make even more.

[dansus021]

Will De-Dollarization Drive Bitcoin Adoption by Nations and Individuals? Short answer Yes, but in phases. But bro this act an asset just like gold rather than change the country currency. When nation look to move away from the US Dollar, their immediate alternative is rarely jumping straight onto Bitcoin their first step is usually switching to local currency trade swaps and aggressive gold accumulation.

Bitcoin is the only liquid monetary asset that has zero counterparty risk and cannot be weaponized, sanctioned, or frozen by any foreign central bank, and because of this Bitcoin will be look closer by the gov.