how long until bitcoin is the worlds reference currency?

Today every news channel in every country displays the exchange rate of their national currency vs the US dollar on a nightly basis in order to guage the strength of their currency. Most people know roughly how much their currency is worth in US dollars.

Ask an indian how much 81,000 rupee is worth and they will say around $1,000 USD. Ask a brit how much 830 pounds is worth and they will say around $1,000 USD. Ask a singaporean how much 1,350 SGD is worth and they will say around $1,000 USD.

Most people dont know what their currency is worth in other national currencies but most people know what their currency is worth in USD because the US dollar is the worlds reference currency.

Bitcoin is still small relative to the USD but it is already becoming more global and more prevalent in most countries, every country has its own bitcoin exchanges. It is also starting to be used more in cross border remittances.

People compare their currency to the US dollar in order to measure their currencies performance. But as the US dollars role deminishes and bitcoins role increases people all over the world will start comparing their currency to bitcoin in order to measure their currencies performance.

There will come a time where bitcoin takes over the role of being the go-to reference currency. Soon more people will know what their currency is worth in bitcoin than know what their currency is worth in US dollars and the goal will not be to maintain stability against the USD but to maintain stability against bitcoin.

When this happens bitcoin would have become the worlds reference currency for individuals and after that its only a matter of time before bitcoin becomes the worlds reference currency for institutions and even governments.

The ironic part is no national currency could possibly maintain value against bitcoin as they are all debasing at such a rapid rate. So as bitcoin becomes the worlds default reference currency it will completely unmask just how weak all national currencies are and cause people to see exactly why they should be saving in bitcoin instead of saving in fiat.

submitted by /u/slvbtc
[link] [comments]

nckl

submitted by /u/ICOffender [link] [comments]

Found this in a bathroom in Italy

submitted by /u/RazerPSN [link] [comments]

It's easier to like Bitcoin when your national currency biggest banknote was 1,000,000 and months later it was "converted" to 1 and now it's worth only 0.04 USD. The country is Venezuela and the national currency is Bs (Bolivares).

Hi, I'm Venezuelan living here, victim of living in a country with bad politics and economic management. I had posted this somewhere else but I think the Bitcoin subreddit deserves it directly. Usually I post outside the crypto community, some people blame and mock me for being "crypto enthusiast", yeah, it's easy saying that when your inflation rate is less than 10% yearly and your FIAT currency is accepted and respected worldwide (Maybe I would be like that too in that situation). But for us living in countries with really bad economic management, using something not controlled by a central bank (which usually means politicians), is a relief. ​ https://preview.redd.it/65bjkavadsla1.jpg?width=780&format=pjpg&auto=webp&s=1184f24f95ddbf70c70fc07053ef4c996a41de14 That banknote is "old" while still in circulation, its face value is "1 millon" which is 1,000,000 Bs. (Bolivares) but because six zeroes were removed by law more than a year ago, not it's 1 "new" Bs, they didn't bother creating a new banknote so it's just like that people should understand it says 1,000,000 but it is worth 1. Of course a lot of problems specially with old people. Government just doesn't care. Exchange rate is 25 Bs. / USD, so 1 Bs. is around 4 cents. You need 25 of these to make 1 USD. Monthly minimum wage is 130 Bs. so around 5 USD. Or 130 banknotes of 1 Bs. submitted by /u/WorkingLime [link] [comments]

Buying $500 or so in BTC Without KYC, ID, or a Phone?

No, nothing nefarious going on. Just $500 or so for a service online that only takes BTC. What's the easiest way to buy BTC without KYC, ID, or SMS, if there is one?

Also, is it possible to buy BTC with a MasterCard or Visa GIFT CARD anywhere online without KYC/ID/SMS? Just straight up enter the card details on the site and have them send that amount to a wallet?

Where's the best place to find face-to-face BTC sellers?

Best place to find BTC ATMs that don't require ID or your fingerprint?

All this is pretty searchable but I read conflicting and outdated information when searching up on it, so I'm looking for someone to give me up to date info.

Thanks.

submitted by /u/LanaDoyle
[link] [comments]

source https://www.reddit.com/r/btc/comments/11icfq8/buying_500_or_so_in_btc_without_kyc_id_or_a_phone/

New article: The failure of the modern economy (stay humble & stack sats!) - eng/ita

submitted by /u/musclesatz [link] [comments]

Bitcoin Cash Adoption in Lebanon Meetup

Date: March 8th, 2023 Location: Lebanon - Tripoli ( al mina ) - Sea & See Reastaurant Time: from 3:00 PM Till 6:30 PM ​ https://preview.redd.it/eca32xezdrla1.jpg?width=1080&format=pjpg&auto=webp&s=a7833687c88d858049be25e947fa09af91571fe5 Join us for an exciting meetup about Bitcoin Cash adoption in Lebanon ! This event is perfect for anyone interested in learning more about Bitcoin Cash and its potential as a payment method for businesses in Lebanon. Our expert speakers will share insights on Bitcoin Cash's history, benefits, and how it works as a payment method for merchants. Agenda: Registration and networking . Introduction and welcome . Distribution of stickers and pins . Talk on Bitcoin Cash history and benefits . Q&A session . Discussion on how Bitcoin Cash can work in Lebanon if merchants adopt it as payment in their stores and business . Networking and wrap-up . BitcoinCash Register Application . Our event will begin with registration and networking, where you can meet other attendees and learn more about the Bitcoin Cash community in Lebanon. We will then have an introduction and welcome session before distributing stickers and pins to all attendees. Our expert speakers will share insights on Bitcoin Cash's history and benefits, including its low transaction fees, fast processing times, and decentralized nature. They will also discuss how Bitcoin Cash can work as a payment method for merchants in Lebanon, including the benefits of accepting Bitcoin Cash over other payment methods. After the speakers' presentation, we will have a Q&A session where attendees can ask questions and get more information about Bitcoin Cash. We will then have a discussion on how Bitcoin Cash can work in Lebanon if merchants adopt it as payment in their stores and business. Attendees will have the opportunity to share their thoughts and ideas on how to promote Bitcoin Cash adoption in Lebanon. Finally, we will end the event with networking and wrap-up. Attendees can connect with each other and continue the conversation about Bitcoin Cash adoption in Lebanon. Don't miss this opportunity to learn more about Bitcoin Cash and its potential as a payment method for businesses in Lebanon. Join Us on March 8th For your Support : bitcoincash:qrx862eter4s2vymv3u9rvrfeqe4w8234clm8qz999 submitted by /u/Nabzzzzz00 [link] [comments]

source https://www.reddit.com/r/btc/comments/11i8jvi/bitcoin_cash_adoption_in_lebanon_meetup/

Unlucky

I buy £100 Bitcoin every pay day (every 2 weeks) everytime I buy it it plummets just like today went down £1000 after I bought this morning😂 overall I’m not missing out on much Bitcoin I got 0.005 from £100 when I could have got 0.0053 if I bought now instead of earlier so not a huge loss really

submitted by /u/anon6325D
[link] [comments]

Bitgree Marketplace: The Decentralized Way to Buy and Sell with Bitcoin Cash

submitted by /u/alberdioni8406_ [link] [comments]

source https://www.reddit.com/r/btc/comments/11hg579/bitgree_marketplace_the_decentralized_way_to_buy/

What happens if I accept bitcoin as payment for a business and price drops?

As the title states, if a business owner accepts bitcoin payments for the sale of $100 good/service and the price of bitcoin then drops 10%...the business owner technically lost %10 of their sale correct?

Why accept bitcoin as payment if the overall price goes down? Unless they plan to hodl..

submitted by /u/brc55
[link] [comments]

Bitcoin ATM - Are all the same?

My father in law got scammed out of $6k, by being told to go to a bitcoin atm and put in the cash. He never selected a receive wallet, or was given access or asked for a QR code at any point. When being scammed there is supposed to be a step where you stupidly give the keys, seed phrase, etc, away, but I can’t find that point of failure here. The money is gone, I just want to learn what happened and inform others.

He scanned his Drivers license, put in the money, and got a receipt that shows the public address, and no private keys of any sort. I go to import this public address as a watch only wallet (of course empty now) to see the transaction history, my FIL’s BTC and one other victim’s input, and one output to an external address, moving the stolen money.

My question is, how can a Bitcoin ATM let someone buy without specifying a receiving address, or allow buying into an address that someone already controls. I assume it must be an inside job, and the owner of the machine has access to the temporary wallets it must create upon purchase. Could someone set up the machine to receive, then walk away as your victim is on the phone coming around the corner and then finish the session with my FIL inserting all that cash and getting a useless receipt. Is that feasible?

submitted by /u/brotherRozo
[link] [comments]

Tether Used Falsified Documents and Shell Companies to Get Bank Accounts - WSJ

submitted by /u/gotamd [link] [comments]

source https://www.reddit.com/r/btc/comments/11hchuo/tether_used_falsified_documents_and_shell/

Here's What We Can Learn from Bitcoin's Moment in Currency-Doomed Nigeria and Lebanon

submitted by /u/No-Wolverine1275 [link] [comments]