Bitcoin to Become a World Reserve Currency

[DeathAndTaxes]

Just for the sake of the argument: Why would politicians like that scenario? (serious question)

Inflation hurts the saver and benefits the debtor.

Who is the largest debtor in the world?  Hint -> http://www.usdebtclock.org/

[gmx95]

Lets be realistic - for many more years bitcoin will be still predominantly used by people whose business is related to the internet. Even if the dollar will crash, major countries would rather use Yuan or Ruble in international payments then bitcoin. Do you seriously imagine gas and oil contracts to be made in bitcoin?

[robhimself]

Sure, and world peace while we are at it. Wishful thinking like crazy...

[JypsiCreme]

There are a few other factors that make Bitcoin ideal:

-Bitcoin has no counter party risk: no one can devalue them
-Bitcoin can't be confisicated. Unlike gold in 1933:http://en.wikipedia.org/wiki/Executive_Order_6102
-Bitcoin can be sent over the Internet.

[pummle]

There are a few other factors that make Bitcoin ideal:

-Bitcoin has no counter party risk: no one can devalue them
-Bitcoin can't be confisicated. Unlike gold in 1933:http://en.wikipedia.org/wiki/Executive_Order_6102
-Bitcoin can be sent over the Internet.

The president could issue a similar order regarding bitcoins, it would just be impossible to execute.

[Robert Paulson]

Lets be realistic - for many more years bitcoin will be still predominantly used by people whose business is related to the internet. Even if the dollar will crash, major countries would rather use Yuan or Ruble in international payments then bitcoin. Do you seriously imagine gas and oil contracts to be made in bitcoin?

3 years ago no one could imagine dell would be accepting bitcoin, people would laugh at you and call you delusional for suggesting anything like that.
just think of the things that no one can imagine today and will be facts in 10 years.

[MÖGUL™]

http://www.forexminute.com/bitcoin/bitcoin-to-become-a-world-reserve-currency-39000 original source!

BTC Th Future

[icem3lter]

There are a few other factors that make Bitcoin ideal:

-Bitcoin has no counter party risk: no one can devalue them
-Bitcoin can't be confisicated. Unlike gold in 1933:http://en.wikipedia.org/wiki/Executive_Order_6102
-Bitcoin can be sent over the Internet.

The president could issue a similar order regarding bitcoins, it would just be impossible to execute.

It is not much different from gold confiscation. Except today much harder to even consider such action like gold confiscation to be possible.

[Robert Paulson]

There are a few other factors that make Bitcoin ideal:

-Bitcoin has no counter party risk: no one can devalue them
-Bitcoin can't be confisicated. Unlike gold in 1933:http://en.wikipedia.org/wiki/Executive_Order_6102
-Bitcoin can be sent over the Internet.

The president could issue a similar order regarding bitcoins, it would just be impossible to execute.

It is not much different from gold confiscation. Except today much harder to even consider such action like gold confiscation to be possible.

its easier, most people don't have physical gold anymore, they have papers promising them gold.
there is zero problem raiding the gold vaults of the GLD ETF and confiscating it all.

[Explicit]

In this case holders of Bitcoin richest addresses would be super-zillionaires able to buy states in a way normal people buy ice-creame.

[Meuh6879]

and what ... ?
richest adress is early adopter ... a good person (not like the actual richest familly from the political sphere = corrupted values).

[Sheldor333]

Still I don't think something like that will happen in the next few years. Governments need to realize it is good for them and then and only then will they do something like that. Don't think they are up to it now.

[Daniel91]

Lets be realistic - for many more years bitcoin will be still predominantly used by people whose business is related to the internet. Even if the dollar will crash, major countries would rather use Yuan or Ruble in international payments then bitcoin. Do you seriously imagine gas and oil contracts to be made in bitcoin?

3 years ago no one could imagine dell would be accepting bitcoin, people would laugh at you and call you delusional for suggesting anything like that.
just think of the things that no one can imagine today and will be facts in 10 years.

Yes, I agree with you.
Today's world changing rapidly.
Could anybody imagine that Internet will become so important part of our lives just 15, 20 years ago?
Many countries like  Argentina, Greece have a lot financial problems so they may consider Bitcoin as alternative currency which can help their monetary policy.
We need just one country, one government to realize the benefits of bitcoin for their economy, and when this happen, more countries will follow.
maybe not so quickly but in the next 10 years, why not?

[moriartybitcoin]

BIS and international banking interests will obviously oppose this vigorously

[bornil267645]

people will certainly have much more trust on virtual currency rather than on the hard currency. so this is a great possibility

[virtualx]

people will certainly have much more trust on virtual currency rather than on the hard currency. so this is a great possibility

I think this will be the trend over time. Inflation keeps rising as the printing press keeps running.
In a way, bitcoin is already a world currency.. maybe one day it's the world currency.

[DurbanPoison]

Bitcoin is and will remain the reserve currency of the underworld 

[Kayex]

I doubt it will become a reserve currency but I think it could become like a one world currency. I think one is needed that can be used workdwide especially with little fees and bitcoin is perfect for this.

I think it would be more like a popular alternative.
Not the worlds true currency.
Hard currency is still needed

[zedicus]

There are a few other factors that make Bitcoin ideal:

-Bitcoin has no counter party risk: no one can devalue them
-Bitcoin can't be confisicated. Unlike gold in 1933:http://en.wikipedia.org/wiki/Executive_Order_6102
-Bitcoin can be sent over the Internet.

The president could issue a similar order regarding bitcoins, it would just be impossible to execute.

The president could not order that bitcoin (or any other asset) be confiscated. This would be against both the 4th and 5th amendments to the constitution. Although for president Obama, this does not seem to matter.

You also very much have counter-party risk when dealing with bitcoin. If I were to purchase a widget from you and I send you bitcoin I would be risking that you would not send me the widget that I paid for or that the widget is somehow effective, or that you somehow try to steal the widget back from me.

[jbreher]

The president could not order that bitcoin (or any other asset) be confiscated. This would be against both the 4th and 5th amendments to the constitution. Although for president Obama, this does not seem to matter.

You need to study your history.

While I agree that such would be unconstitutional, there is precedent for such an action. See (IIRC) executive order 6012.