Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: ranaprime on July 27, 2020, 08:13:07 PM
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Bitcoin was the first cryptocurrency to successfully record transactions on a secure, decentralized blockchain-based network. Day by Day it's popularity increasing rapidly. On June 11, 2020 the entrepreneur and best selling author,Jeff Booth, spoke with Max Keiser of Keiser report about bitcoin.Both seems to think that BTC has good chance to begin a "Wrold reserve currency". The author tells Keiser to that the central banks massive creation of money has been a force that is driving bitcoin's trend toward being a wrold reserve.
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We can imagine a future, when the US, China, Japan, India all have 1 BTC reserves as a national asset, when the price of BTC has stabilized at about $1M. Perhaps then we can still use BTC as a means of payment daily, by 1 satoshi = 1 cent...
However, this means that the war of money printing will end, instead, it is possible that countries will actively manipulate mining. Gold reserves store will become the nation's centralized BTC mining factories ^^
And ... 1 country has just been lent 1,000 BTC by the World Bank to recover the economy after the COVID-x9 pandemic :)
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When people turn their back against fiat system and embraces bitcoin as currency. Not far from reality that btc will become the world currency and not just reserve. Unfortunately, it looks impossible for now because there are people who don't know currency and btc also known as volatile which is risky.
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When governments realize this pergaps bitcoin would have been very expensive by that time and when govts will start accumulating and storing btc as national reserve then the price will skyrocket even more and even having satoshis will be very valuable.
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I think that now Bitcoin has become the world currency although it is not for all transactions. but everybody in the world can use it for transactions worldwide without complicated steps and also rules. However, for the legal currency in the world, I think it is still so far from it.
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I do not think that this will ever happen precisely due to the fact that states are now massively developing their own digital currencies. Lack of any bitcoin collateral, its high price volatility have always been obstacles to the transition of states to its use. States now have a good alternative to decentralized cryptocurrencies, namely the stablecoins of their central banks. Therefore, it makes no sense for states to use bitcoin as a reserve currency.
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I believe that Bitcoin will one day a very important global currency but I don't see it to be adopted by countries as reserve currency on the same level that USD is positioned right now. There are many limiting factors and on top of that is that countries will never give up their financial sovereignty over anything. In fact, countries can be issuing their digital monies soon which they can easily still control and dominate.
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I think that this is how it will be. Everyone will soon start using Bitcoin (buying a car, an apartment, groceries, etc.). This could happen very soon.
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Bitcoin is one of the best and most popular blockchain network transactions. Its popularity is running like a horse. So a lot of people write a lot about bitcoin. Lots of money transactions can be done with bitcoin. As a result, the transaction is becoming easier. However, a lot of money can be kept in the bitcoin wallet. Which is difficult for a bank to keep accounts. Bitcoin currency has a tendency to reserve.
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Decentralized cryptocurrency cannot be the reserve currency of states. The sovereignty of the state presupposes its financial independence and its component is the national money of the state. Bitcoin, like other decentralized cryptocurrencies, has a lot of price volatility. This circumstance is one of the many reasons why bitcoin is unlikely to be used by states as a means of payment.
States will move to digital currencies, but they will most likely be their own stablecoins, as well as regional and other stablecoins developed from them.
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unofficially, Bitcoin has been the world currency, but it is digitally. Everyone in worldwide can use this coin as payment and transactions. We can change the coin into some services or products. Or we can trade it in the market so easily and everyone in the world also needs it.
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It is surely possible that Bitcoin can be world reserve currency, but is rather hard to happen because of its volatility and some other problems in Bitcoin. However, I am sure if all the problems have been fixed, then Bitcoin can have a high chance to be world reserve currency.
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Well I do hope that would be the case. Moreover its not only the central bank pushing the idea but the community of cryptocurrency and blockchain rise exponentially and keep growing. I think many new investors will be interested to cash in as they can see what is happening as bitcoin popularity is now extending its wing on every sector.
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Obviously I think bitcoin will be the world reserved cryptocurrency. If world banking systems satisfactory accept bitcoin as their transaction system then it highly possible to become world accepted cryptocurrency.
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Is the Bitcoin now a world digital currency? Everybody can use BTC as a payment transaction. It is not limited to in a country but it can be used by all people in the world. But the limit is that this coin may not be used in any type of industry or company or e-commerce. but , this BTC rates the same for everybody in the world.
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Firstly, this post must be in Bitcoin discussion, mate. You can move this post yourself, OP! This section is for altcoins, not for discussing related to Bitcoin.
Anyway, BTC is indeed can be a world reserve currency if most countries in the world legalize and accept Bictoin. However, now many countries still don't legalize it and even some of them ban the Bitcoin because of various reasons.
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Of course I think bitcoin is the preserved currency of the crypto world. Huge success will come if this bitcoin is recognized all over the world. Bitcoin transactions in the banking system, in fact, the transaction will be much easier and faster. Bitcoin will soon become a worldwide recognized currency.
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I doubt if bitcoin would make that grade. Why? It has to be universally accepted and centralized(or monitored). Right now, it doesn't make that grade. I am sorry
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I think decentralized cryptocurrency can not be the reserve currency of any country. Bitcoin can have an impact on a country’s national economy. That is why there is a lot of price volatility in the price of Bitcoin. Bitcoin can be an alternative means of payment. Most countries do not see such a possibility. Of course, all countries will be sympathetic to digital transactions. That is possible with the development of technology. Of course, it will not bow to any state government. Bitcoin currency prices will stabilize at some point. Then the use of bitcoin will start in all cases. That day will come.
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No. I believe that all these tales are that bitcoin is digital gold, a protective asset and the like. A protective asset cannot fall to $ 1,500 in a matter of seconds. I also believe that bitcoin cannot be a world currency or a reserve currency. Understand that a large amount of bitcoin is in the hands of ordinary people and not in the hands of governments. It is easier for the government to create its own digital currency.
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Bitcoin and other Crypto coin speard with good speed in worldwide , Infact their is some platform who accept bitcoin as a payment option .
hopefully bitcoin is acceptable worldwide or we can used it as a payment option .
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Obviously I support this valuable information because day by day cryptocurrency becoming more and more popular than the hardpaper currencies. If central bank and government support bitcoin as their daily purposes and transactions then it would be the world most reserve cryptocurrency.
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I could imagine now buddy. Bitcoin is the future and I believe it is created as a store of value. Many projects are showing everyday but they cannot replace bitcoin because this is the mother of all cryptocurrencies.
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Bitcoin can be a reserve currency because the price can go higher than the value right now, in the crisis time people will trying to save their money and bitcoin is one of the best for saving.
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I know it will be difficult for Bitcoin to become world reserve currency due to the fact that many countries/people don't believe in it. However, I know that as times goes on, many people will realize the advantage of bitcoin and that will give bitcoin the opportunity to become world reserve currency
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I do not think that will be possible. It's too volatile and I think we do not have enough BTC to make it a world reserve currency. Also just think about what will happens if somehow internet will not be available for several months. No internet to BTC because it doesn't have any physical form. So gold is a better option for physical currency and world reserve currency.
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I think it's not possible because of the Bitcoin volatility, I believe that to become a reserve currency it must have all this element namely; price stability, store of value, etc while Bitcoin has a capacity as a store of value But the Bitcoin price is not stable and it was fluctuating too much so relatively it's not the best for a world reserve currency. I'm not against in Bitcoin, I love Bitcoin thats why I would prepare to remain Bitcoin as a decentralized store of value assets rather than become a world reserve currency and become centralized that was my point.
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The possibility is high and I believe when this thing happens that would be the time that bitcoin had became successful to replace dollar and become the digital currency worldwide.
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I think it is difficult for Bitcoin to become a reserve currency because in some countries some people do not accept Bitcoin for every payment.
Then money reserves might also be able to be for Bitcoin or other cryptocurrency but there are always pros and cons.
It's better that Bitcoin is used as a digital asset as income from investments or trade every day.
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Bitcoin was the first cryptocurrency to successfully record transactions on a secure, decentralized blockchain-based network. Day by Day it's popularity increasing rapidly. On June 11, 2020 the entrepreneur and best selling author,Jeff Booth, spoke with Max Keiser of Keiser report about bitcoin.Both seems to think that BTC has good chance to begin a "Wrold reserve currency". The author tells Keiser to that the central banks massive creation of money has been a force that is driving bitcoin's trend toward being a wrold reserve.
Fiat is fading in value but I don't think bitcoin will be adopt as a reserve currency, what do you think will to bitcoin and volatility? It cannot be a reserve currency.
How do you define the future when there is war, no one pray for that but we all see what happen during this pandemic corona stuff, bitcoin bleed so badly that some alts coin became so worthless. It will not be adopted.
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Hmm, I'm not sure because of its volatility. Maybe, stablecoins can do it. Tether for dollar, eurg for euro
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It looks interesting, if bitcoin is the world's reserve currency. But in my opinion, it is still far from reaching that target, bitcoin must be perfect before that happens, minor problems must be fixed first, for example transaction speed and high fees if transactions on the blockchain network are dense.
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I disagree, I believe exactly no chance may come of it. However, I think the global reserve system will change radically in the next few decades. Bitcoin could be part of what's emerging.
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Becoming a global reserve currency has both pros and cons. While this makes it easier to borrow in international markets, it also takes away the power to exert influence on the domestic economy.
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It looks interesting, if bitcoin is the world's reserve currency. But in my opinion, it is still far from reaching that target, bitcoin must be perfect before that happens, minor problems must be fixed first, for example transaction speed and high fees if transactions on the blockchain network are dense.
Bitcoin will never be exactly ideal to become the world's reserve currency. One of the main obstacles is the high price volatility of bitcoin. How can bitcoin become a world currency if its price fluctuates by tens of percent and this is considered the norm?
In addition, states now have a good alternative - their national stablecoins.
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I disagree, I believe exactly no chance may come of it. However, I think the global reserve system will change radically in the next few decades. Bitcoin could be part of that
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Bitcoin will not be a global reserve currency, but it will be the premise because a global currency requires a flexible supply. Limits on the amount of gold banks can hold are one of the main reasons the gold standard doesn't work - economic growth outstrips gold-backed money supply and the inevitable scramble. to overcome this limit leads to instability.
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Bitcoin was the first cryptocurrency to successfully record transactions on a secure, decentralized blockchain-based network. Day by Day it's popularity increasing rapidly. On June 11, 2020 the entrepreneur and best selling author,Jeff Booth, spoke with Max Keiser of Keiser report about bitcoin.Both seems to think that BTC has good chance to begin a "Wrold reserve currency". The author tells Keiser to that the central banks massive creation of money has been a force that is driving bitcoin's trend toward being a wrold reserve.
For your kind information US central bank and Swiss bank now going to make custody of BTC so i think this is not too far that it going to be a world reserve currency and i think every county will think about it. After covid 19 lots of progress in cryptocurrency field so that most of the govt not thinking about it. So be positive about it.
thanks.
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I think not because Bitcoin will not become a universal payment token for transactional contracts. It is too volatile. Although BTC is more liquid, it is unlikely that businesses and sovereign powers will give up their preference for fiat money, where they have control.
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Bitcoin is the most important coin of the blockchain. Yes, bitcoin is the first cryptocurrency to record. Its popularity is growing. The whole process seems very active to me now. Because it is possible to transact a lot of money at the moment. Most banks have accepted bitcoin. So it will not be possible to transact any currency like bitcoin directly with the bank. Because I think the bank will not accept all the coins.
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No, in my opinion Facebook's Libra could be the world's reserve currency. It is calculated in series of fiat currencies. Government debt is periodically balanced and used to peg one to a digital currency as a method of payment.
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Governments and their bodies will never use Bitcoin or other decentralized cryptocurrencies as a reserve currency. For them, this is unacceptable despite the fact that many of them have legalized bitcoin and their banks provide services in cryptocurrency.
Moreover, now they have a good choice from the side of stablecoins, of which there will be much more in the near future and in various combinations.
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it is not . although the US Dollar ceased to be the official global reserve currency when President Richard Nixon took the country off the gold standard in 1971. However, it remained the de facto global reserve currency. , The United States remains the world's largest economy and top trading nation. Countries tend to store dollars more than all other currencies combined for ease of trading and for their relative stability.
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Bitcoin will not become a universal payment token for transactional contracts. It is too volatile. Although BTC is more liquid, it is unlikely that businesses and sovereign powers will give up their preference for fiat money, where they have control. that is why Bitcoin will not be a global reserve currency, but a premise
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Yes I do think Bitcoin will be declared a popular currency in the world market. Because Bitcoin has made a name for itself all over the world. People all over the world now know a bit about Bitcoin. We can see that Bitcoin is in the number one position in all the markets. So I think Bitcoin has already been declared as one of the most popular coins in the world.
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If bitcoin became the world's reserve currency? who will control it? whereas bitcoin is decentralized. I think it's still very difficult with high volatility
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If bitcoin become world reserve currency i'm sure it'll become used at large scale and the aim of bitcoin as mass adoption will be reached. However, it's will also make a country to maipulate bitcoin to gain maximum profit for their own interest.
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Why not, obviously bitcoin is the best online Crypto in the crypto market. 70 ieo and others fundraising projects arranged in BTC pair. People from different countries getting familiar with bitcoin. So I think bitcoin will be the world reserved cryptocurrency.
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I do not think bitcoin can be reserved as a currency. Bitcoin is not a centralized token or controlled by any man, So in actual sense, unless someone is buying bitcoin in its huge large quantity like 80% supply, you cannot boast of reserving bitcoin at all.
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The author tells Keiser to that the central banks massive creation of money has been a force that is driving bitcoin's trend toward being a wrold reserve.
One day, Satoshi Nakamoto's goal to make Bitcoin a global payment option will definitely come true, this will definitely happen as we have seen some coffee shops have accepted Bitcoin payments and we have seen some Bitcoin ATMs installed in supermarkets and in several other places.
https://www.statista.com/statistics/343127/number-bitcoin-atm. (https://www.statista.com/statistics/343127/number-bitcoin-atms/#:~:text=There%20were%208%2C936%20Bitcoin%20ATMs%20globally%20as%20of%20August%201%2C% 202020. & text = ATM% 20 (automated% 20teller% 20machine)% 20is, cash% 20from% 20their% 20banking% 20accounts)
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If bitcoin became the world's reserve currency? who will control it? whereas bitcoin is decentralized. I think it's still very difficult with high volatility
Maybe whales or the anonymous Bitcoin big holders?
Possible the government if Bitcoin become centralized.
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Maybe whales or the anonymous Bitcoin big holders?
Possible the government if Bitcoin become centralized.
Even whales are hard to control bitcoin. Besides the high price, having a lot of bitcoin requires large capital. I thought it was impossible. Bitcoin will remain a decentralized that cannot be controlled by anyone, including the government.