What are the necessary conditions for bitcoin to become a global reserve currenc

[Amug123]

Well for bitcoin to become a global reserve currency,  i think the issue of volatility needs to addressed through broader adoption and integration,  also a unified global regulatory frame work is essential to build the trust in bitcoin as a reserve asset.

[Mia Chloe]

Well for bitcoin to become a global reserve currency,  i think the issue of volatility needs to addressed through broader adoption and integration,  also a unified global regulatory frame work is essential to build the trust in bitcoin as a reserve asset.

To start with I don't actually see the property of volatility of Bitcoin as a problem this is because compared to many other tokens and coins too, the volatility of Bitcoin is what I'd like to call positive volatility this is because it appreciates more than it actually depreciates making it volatility better.

The idea of a reserve currency is to partly reduced the effect of inflation on the economy this simply means that is zero volatile coin or token wouldn't work ideally in improving economic status.

[Rruchi man]

Well for bitcoin to become a global reserve currency,  i think the issue of volatility needs to addressed through broader adoption and integration,  also a unified global regulatory frame work is essential to build the trust in bitcoin as a reserve asset.

There have been people who have shown concern for the new developments from Donald Trump. There are experts who think that the decentralized nature of these cryptocurrencies will challenge them as global reserve currencies.

Time will actually come; we will see the developments that come with the news.

[TomPluz]

While I can still be shocked at Bitcoin's volatility and I think I am not going to be getting used to it, I am also recognizing that in the first place Bitcoin will not be here as it stands today if not for volatility. Consider this: if Bitcoin is just another asset maybe comparable to gold then I don't see the kind of excitement that it got in the past many years and even today. Volatility is a double-edged trait for Bitcoin...and while some may view it as a hindrance or negative thing many will not be buying or supporting Bitcoin if there is no chance that its value will skyrocket soon. The only necessary condition for Bitcoin to be adopted by many countries into their reserve is for them to be interested on it and be convinced that Bitcoin can be beneficial to their respective economies...regardless if Bitcoin is volatile or not. I am not so sure what will happen to Bitcoin if we take away its volatility...maybe many countries will adopt it but not the mainstream population as we are seeing it now.

[Bobcrypto]

Well for bitcoin to become a global reserve currency,  i think the issue of volatility needs to addressed through broader adoption and integration,  also a unified global regulatory frame work is essential to build the trust in bitcoin as a reserve asset.

Base on your tittle, and for now, there are no necessary conditions for Bitcoin to become a global reserve currency. As you can see, the Bitcoin strategic reserve as a digital currency has started in the US, however, this idea has to start from somewhere, and that is expertly what the US has began.
Cryptocurrency is evolving, there may be other developments coming as time progresses. Your thoughts about Bitcoin global reserve currency can be in the future, nothing can be rule out in my opinion.

[hugeblack]

Making a decision about global reserve is not limited to Bitcoin. Understanding the advantages of Bitcoin was that unless there was political will, Bitcoin would not be a global reserve. It is rare to find a political will that enjoys global consensus, especially in the economy, which seems to differ greatly between countries.

[bitmover]

Well for bitcoin to become a global reserve currency,  i think the issue of volatility needs to addressed through broader adoption and integration,  also a unified global regulatory frame work is essential to build the trust in bitcoin as a reserve asset.

Volatility is not a problem to become a reserve asset.

Gold is a global reserve asset, and it is very volatile as well. Bitcoin is becoming less and less volatile over the years..

[Aanuoluwatofunmi]

Well for bitcoin to become a global reserve currency,  i think the issue of volatility needs to addressed through broader adoption and integration,  also a unified global regulatory frame work is essential to build the trust in bitcoin as a reserve asset.

The more people are no more interested in fiat currencies, investing on other assets and as everything is pointing towards the massive investment opportunities in bitcoin, then the world will have no alternative than to also embrace the use of bitcoin, now we are hoping on seing the continuous bitcoin adoption as a legal tender beyond only two countries who had made it a legal tender already.

[memehunter]

Bitcoin will be more of an asset class than a global currency at the level of masses. I am saying this because of a limited supply of Bitcoin and massive holdings of large players. It will be liquid as gold, though .   

[robelneo]

Well for bitcoin to become a global reserve currency,  i think the issue of volatility needs to addressed through broader adoption and integration,  also a unified global regulatory frame work is essential to build the trust in bitcoin as a reserve asset.

The US has made it a global reserve because, in the first place, they did not spend a dime. The reserve comes from the confiscated bitcoin. Bhutan is a good example of a country making Bitcoin as its reserve; they did it successfully because they believed in it and bought it when the price was attractive to hoard. Not many countries will want to make it their reserves because volatility is something that you cannot take out of Bitcoin.
It will remain attached to it unless there is a fix solution to this volatility.

[hugeblack]

Bitcoin will be more of an asset class than a global currency at the level of masses. I am saying this because of a limited supply of Bitcoin and massive holdings of large players. It will be liquid as gold, though .

The description of the limited supply of Bitcoin does not mean that it is limited, but it means that it is final, as it is not possible to continue producing more Bitcoins forever. As for the limited supply, it is not about 21 million Bitcoins, as each Bitcoin contains 100 million satoshis. You can now do the calculations to know the total number of satoshis, and it will certainly be enough.

[0t3p0t]

To start with I don't actually see the property of volatility of Bitcoin as a problem this is because compared to many other tokens and coins too, the volatility of Bitcoin is what I'd like to call positive volatility this is because it appreciates more than it actually depreciates making it volatility better.

The idea of a reserve currency is to partly reduced the effect of inflation on the economy this simply means that is zero volatile coin or token wouldn't work ideally in improving economic status.

In terms of volatility maybe the hard part when we are talking about using it as global reserve is that prices could crash in just a matter of seconds for some reasons and I know no ones gonna like that because nobody knows when it goes back up that is why gold reserve is the most common way countries are working with.

Bitcoins characteristics of being an inflation proof asset also gives holders the chance to feel ease during crisis as we all know that's when inflation will rise and on the positive side of Bitcoin where growth is fast assets will increase it's value over time.

[Mia Chloe]

Bitcoins characteristics of being an inflation proof asset also gives holders the chance to feel ease during crisis as we all know that's when inflation will rise and on the positive side of Bitcoin where growth is fast assets will increase it's value over time.

Well I think this is actually one of the major reasons why that it has its advantages and also disadvantages too. Basically without volatility there will be no price appreciation for example having a usdt reserve wouldn't matter much in the economy because it's just like stacking some USD without spending them and in the end inflation still makes them reduce in value.

Bitcoin is a better option because it is not only volatile but has a higher chance of price improvement based on its trend over the years.

[yhiaali3]

Yes, Bitcoin volatility has played a significant role in the global growth of Bitcoin interest, with Bitcoin’s bullish long-term trajectory helping to attract many institutions and eventually governments.

But at this stage we need to control volatility somewhat so that Bitcoin can gain confidence as a reserve asset, this can be achieved through more institutional and government adoption around the world.

[taufik123]

-snip-
But at this stage we need to control volatility somewhat so that Bitcoin can gain confidence as a reserve asset, this can be achieved through more institutional and government adoption around the world.

Who can control the volatility, Bitcoin is a free crypto market and anyone can take action without caring about anyone.
The relevant government also sometimes exerts excessive pressure and high volatility resulting in quite extreme price fluctuations.

Now, like the US with its new president putting too much pressure on Bitcoin makes the market really fall.
This is also caused by manipulation carried out by several parties so that the price is cheaper and more to buy.
No one can really control bitcoin's volatility.