I got caught up in this news last 6 hours ago, most of us participants are hoping that Bitcoin will someday become a Global Currency, why is that?
Any thoughts or opinions about this?
If you mean bitcoin to be a global currency that can be used by all people in this world and used as a payment system in various aspects, it is impossible to happen with confidence for many reasons. Only people are crazy about bitcoin and have a passion for bitcoin to have a high price that wants it to happen.
But if you mean bitcoin become a global currency only for people who know bitcoin, for instance, I live with you in different country and I will sell the goods to you and we have agreed the payment instrument that we use is bitcoin, indirectly bitcoin has become a global currency. Because we have a different currency, but with bitcoin everyone who uses it is the same.
Yes because this is impossible.Bitcoin is just a mere cryptocurrency and is also not able to recover from a very long time.Many people still do not know about bitcoin.Moreover it requires internet connection which is not available in every corner of the world.It also requires some knowledge to get operated.It also has a risk of getting hacked.It is very volatile and can also disappear from the market too.It is also banned in some nations too.