Quote from: Sea_Car on August 06, 2018, 11:44:15 PM

Quote from: Abiky on August 04, 2018, 04:12:09 PM

Do you think Bitcoin will become the reserve currency of the world sometime in the future? I was wondering about this since Bitcoin is now a widely used cryptocurrency worldwide. Since most altcoins in the market today, are dependent on Bitcoin's price movements, it seems like Bitcoin is the reserve currency of cryptocurrencies.

However, if Bitcoin tends to become more popular each day, it could eventually take the USD's place as the reserve currency of the world. Hence, what are your thoughts about this? Will it happen or not? Huh

Professor of the University of South Carolina and consultant of Bank of Canada Warren Weber last year published research that answers your question. Despite the fact that almost a year has passed, I think that this research is relevant, interesting and will be useful to many. There are only 30 pages, and it's worth your time. Highly recommend.
He compares the bitcoin to the gold standard. Two main similarities are the lack of control by the authorities and a limited amount of gold and bitcoins. The number of bitocoins is limited to 21 million "coins". "If bitkoyn becomes the world reserve currency, then on its basis central banks will be able to issue their fiat (not having their own value) money, thus, in essence, the gold standard that existed in the world financial system until the early 1970s will return."
In short, the essence of the research (and I fully agree with Professor Weber's conclusions) is that bitcoin could become a reserve currency, but it will not, because the principles of its creation and functioning have completely different goals.

nothing is important about bitcoin being limited, at any moment another limited currency can be created.