Has Btc become the ultimate currency, Or there is fears about Btc success?

[Astra]

While El Salvador is bent on making Bitcoin a legal tender in the whole country with its current President even doing the personal campaign for people to adopt Bitcoin by giving each citizen $30 worth of Bitcoin, in China it is quite different as it has fully implemented its policy against Bitcoin and this time around even including Bitcoin mining. For Bitcoin to become the currency of the world, that might still be years from now. We should not expect that institutions and governments will be laying a red carpet for Bitcoin, this is a disruptive technology and many will look at it as an enemy.

Many states have now legalized cryptocurrencies, including bitcoin, as legal tender. El Salvador is trying to conduct a more serious experiment - using bitcoin as the national currency. This is much more than just recognizing bitcoin as a legal tender along with its national currency. Although the president of this country was supported by the parliament, this issue has not yet been finally resolved, since the opposition has appealed to the country's Constitutional Court and, most likely, it will be he who will end this dispute. This is a very serious step, because in case of failure, Bitcoin, I think, will significantly lose its popularity.

[CryptoStar19]

While El Salvador is bent on making Bitcoin a legal tender in the whole country with its current President even doing the personal campaign for people to adopt Bitcoin by giving each citizen $30 worth of Bitcoin, in China it is quite different as it has fully implemented its policy against Bitcoin and this time around even including Bitcoin mining. For Bitcoin to become the currency of the world, that might still be years from now. We should not expect that institutions and governments will be laying a red carpet for Bitcoin, this is a disruptive technology and many will look at it as an enemy.

Many states have now legalized cryptocurrencies, including bitcoin, as legal tender. El Salvador is trying to conduct a more serious experiment - using bitcoin as the national currency. This is much more than just recognizing bitcoin as a legal tender along with its national currency. Although the president of this country was supported by the parliament, this issue has not yet been finally resolved, since the opposition has appealed to the country's Constitutional Court and, most likely, it will be he who will end this dispute. This is a very serious step, because in case of failure, Bitcoin, I think, will significantly lose its popularity.

As of now, El Salvador is the only nation-state where bitcoin is legal tender... should this even be reversed (or 'fail' as you say), it wouldn't be bad for bitcoin. Bitcoin hasn't needed any country or person or organization to get to where it is today and it won't need anyone to move forward from here. It's more the case that these countries need bitcoin and the sooner they come to understand that, the better of they will be in the course of the coming decades.

[RSRS]

BTC has gained a lot of popularity in a very short period of time.BTC is now called the king of all coins And everyone's idea is that these coins will control the whole world at some point.There is a lot of confusion about BTC in some countries which is actually a rumor.

[Dora Walletinvestor]

Lately it's been more apparent than ever how much Bitcoin divides the world, and how regulators are not nearly as enthusiastic about it as most everyday people (except for El Salvador, of course). I'm not sure what this will mean for Bitcoin in the long run.

[mlawson71]

Much as I like Bitcoin, it is quite far from becoming the "ultimate currency" still. Can it compare to the US Dollar or the Euro? I don't think so.

[marcsymons]

No question about Bitcoin currency is now the most popular currency worldwide, but this is just in talking of investment, unlike the fiat currency that commonly used as payment for goods and services and repayment of debts, such as taxes, in any particular country socio-economic context that even children can use it instantly in both poor and rich countries.

[Alcor]

The only answer can be: do you see BTC as a currency?

Yes, we have to admit that we practically do not see bitcoin as a currency, as a means of payment. While it is in the main speculative store of value. The national currency of states basically performs just the function of money, that is, a means of payment. So far, as the main money, that is, the national currency, bitcoin is accepted in El Salvador. However, the opposition there appealed to the Constitutional Court of the country and it is not known how it will end. Although the experiment is very interesting and it would be better to observe its result.
Bitcoin and other cryptocurrencies are not intended to be the main currency in the country, the cryptocurrency must occupy a certain niche in the financial sector and go along with the national money.

[shadowdio]

No bitcoin will not overtake the fiats, I'm sure some people will not use bitcoin because you know the transaction fee is so high.. Are you willing to pay the transaction fees? and I think the government would not allow that bitcoin will replace fiat money.

[Delgboke]

Btc is the innovation of the 21st century kind currency I don't think It has come to takeover the currency of the Earth but to change the way native currency function digitally although Bitcoin is more valued more than some country currency that's why most countries are fighting the existence of Bitcoin, that's my opinion.

[Vx1]

I am beginning to feel that btc has suddenly become the ultimate digital currency of the earth, a reason I'm wondering  avout all sort of clamp down on trading, Mining and investment in many countries. Has Btc overtaken the fiats of some of these countries of the world? Too many confusion about btc in the past 6weeks. Your thoughts.

For Cryptocurrency digital currencies, Bitcoin is indeed number one when compared to other Cryptocurrency currencies.  But if to take over Fiat , I think this is still not the time .  The use of Cryptocurrencies as legal tender, is still prohibited in many countries and it seems that this will still wait for a longer process.

[Evgenklm]

taking into account the fact that bitcoin costs tens of thousands of dollars, this is a new type of mineral, which may soon become the most investment attractive for any investor, bitcoin has already experienced collapses, falls, economic crises and will continue to successfully conquer the world.

[Bitstar_coin]

I would say btc is becoming, haven't fully become yet, reason being many people are still afraid to put money in crypto, and also the market volatility contribute to the reason why a good number of people are feeding reluctant to join this space, it is very natural to see people's hesitation not to support the crypto but latter some came still ready to invest and support  the community.

[Beattysuhita]

Bitcoin is a solution to make it easier for us to make transactions, especially during the Covid-19 pandemic conditions like today, Bitcoin should be used as a substitute for Fiat, but unfortunately there are still many obstacles that Bitcoin must fight, especially bans from the government.

[zilzylian]

Bitcoin is a solution to make it easier for us to make transactions, especially during the Covid-19 pandemic conditions like today, Bitcoin should be used as a substitute for Fiat, but unfortunately there are still many obstacles that Bitcoin must fight, especially bans from the government.

Cryptocurrency community wants Bitcoin to be accepted as a payment system but government doesn't want Bitcoin to be used because of the increasing circulation of paper money less, this's always a debate among government members because no institution can control Bitcoin, it is ironic to see that because they are only interested in blockchain technology, but they reject Bitcoin.
We can be patient and wait for several countries to accept Bitcoin so that in the future the transaction system will be more transparent without any control from 3rd parties

[CryptoStar19]

Bitcoin is a solution to make it easier for us to make transactions, especially during the Covid-19 pandemic conditions like today, Bitcoin should be used as a substitute for Fiat, but unfortunately there are still many obstacles that Bitcoin must fight, especially bans from the government.

Cryptocurrency community wants Bitcoin to be accepted as a payment system but government doesn't want Bitcoin to be used because of the increasing circulation of paper money less, this's always a debate among government members because no institution can control Bitcoin, it is ironic to see that because they are only interested in blockchain technology, but they reject Bitcoin.
We can be patient and wait for several countries to accept Bitcoin so that in the future the transaction system will be more transparent without any control from 3rd parties

The resistance toward bitcoin on the part of authorities, as you have mentioned, is that they don't control it. To use bitcoin as money, it would force governments to actually have sound monetary policy rather than printing as much as they want and need chucking the bucket of ever-increasing debt further down the line.