Quote from: Bonsaiav on November 11, 2018, 03:44:55 AM

Inevitably bitcoin's indeed the most widely used cryptocurrency than other cryptocurrencies, this thing is evident from the many service providers or exchanges that serve bitcoin selling/buying transactions wherever we are.

Now the development of Alt-coin is no longer dependent on bitcoin, because of the many facts that show, that the growth of cryptocurrency is actually very dependent on most of its active users.

Bitcoin is very likely to be used as a reserve currency especially for countries affected by inflation, such as Zimbabwe and other countries. But also, bitcoin will function as a parallel moving currency along with the fiat currency.

You do have a point there, mate. Bitcoin works well as a "reserve currency" for third world countries, mostly because their currencies are worthless. For example, in Venezuela, people have been using Bitcoin as a hedge against their traditional Fiat currency. Since the Bolivar currency is highly inflated, their only choice to gain greater spending power is via the use of Bitcoin itself. Since the pioneer cryptocurrency is not issued by any central authority such as a Bank or a Government, its value is dependent on the people itself.

The unique characteristics of Bitcoin assimilates those of true Gold. That explains the reason why many people in countries like Venezuela, and even India, have been using Bitcoin for their daily needs. However, because Bitcoin is decentralized, some governments have been opposing it every step of the way. India has announced that it will ban Bitcoin and cryptocurrencies altogether, while Venezuela has shown a certain level of opposition against Bitcoin. Because of this, Bitcoin cannot be the reserve currency of the world, leaving the path open for centralized fiat currencies such as the US Dollar and the Euro.

However, if Bitcoin becomes centralized, then there's a huge possibility that it might become the world's reserve currency in the future. Banks and governments worldwide will embrace the cryptocurrency, as it's truly a unique form of digital gold. Until then, only Ripple has a higher chance of becoming the world's reserve currency if it becomes adopted by many banks worldwide. Just my thoughts Grin