Dollar's Rise as the Global Currency Leader

When we talk about the dollar's dominance, it's important to understand the history of currency itself. In the early days, currency took many forms. People used everything from stones to various odd items as money. But there was always an issue with acceptance; not everyone saw these items as equally valuable. That’s why no single currency could achieve global acceptance until gold came along. Once gold entered the scene, it became widely recognized as a medium of exchange. If someone offered me gold, I’d gladly accept it. And if I handed over gold in exchange for something, the other person would accept it too, knowing others would also value gold. This is how gold became what we now refer to as Gold Currency, and it paved the way for the Gold Standard. Since gold was a precious commodity, it also served as a benchmark for assessing value. Thus, the Gold Standard was established, leading to global acceptance of gold. Fast forward to 1944, towards the end of World War II (which lasted from 1939 to 1945), representatives from 44 nations gathered in Bretton Woods, America. By that time, the world had become incredibly interconnected. The First World War saw a different style of combat, but during the Second World War, countries were actively trading with each other, and people were adapting to this new global economy.

All world reserve currencies reach a point where they begin to fail. We had Gold previously, now we have the USD which is being printed into irrelevancy. There is definitely a chance that Bitcoin takes over in the next 100 years or so. For now it is a good idea to buy as much Bitcoin as possible to prepare.

Yes, it is a common knowledge that ever since USA converted from gold standard to none, they have been losing value in dollar, and printing it like it means nothing, and reached peak these days. But that doesn't mean that other nations didn't do the same. Plus, if we had the same thing as then, the dollar would be incredibly valuable that is true, and the inflation wouldn't be this high that is true too, but the wealth gap would be even higher and we would do bad. Because people like Elon Musk and Jeff Bezos would still have a company that takes your money, but they wouldn't sell their money, which means since we have finite amount of gold, they would hold most of the money, and we would have very little. Hence, we would all be poorer, because we would own % less, and they would own more, now we print, so we have a chance at least.

Gold and Bitcoin differs from The US dollar because gold is not owned by any government and so it Bitcoin but the USD is owned by the United States government. I believe Bitcoin will also be seen as the world reserve because currency because it won't be manipulated by any government and any country have equal access to it. We have seen many countries already adopting Bitcoin which is a big sign.

If they stop seeing Bitcoin solely as a store of value, a source of speculation, and adopt it as a means of payment, it should be possible for business and transactions between countries and individuals to be conducted in Bitcoin, even as a global currency. Meanwhile, what we'll see is what we have: accumulation through pure speculation.

Dollar has been the most recognized currency in fiat and this has been because of so many reasons we can find with US such as being a developed country, having a stable economy, high employment rate and reduced poverty level, good leadership and economic growth, which all of these have been giving them edges over having a more better economy stability than so many other countries, which is why dollar will always be valuable and dominance to every country.

There are only a few countries with a "hard" currency. The rest of the world uses the $ and also the € to safe their values. Even countries look for places where they can safe. Thus bonds. You look at the staggering values stable-coins unite and you see that those a mechanism to get into FIAT.

Although bitcoin is not owned or controlled by any country, bitcoin is a decentralized currency but that also cannot solve the problem of inequality between countries. I mean rich countries like the US could easily own a majority of the bitcoin supply by printing more USD to buy bitcoin, and as we all know, they is dominating the market and is the biggest player in the cryptocurrency space. Therefore, I think it is unlikely that bitcoin will become a global currency. Because other countries, especially those that want to challenge US dominance, will not support this idea. How can they agree bitcoin will be the world's next reserve currency when the US is trying to find a way to hold the majority of the bitcoin supply?

If you are calculating 100 years for the maturity success or cost benefit ratio of bitcoin then I think bitcoin won't be regarded as a successful project. I'm not disputing your assumptions with this response however I feel bitcoin will do better than that to record a faster success rate considering its growth rate. What I know is most likely to happen in few decades to come if bitcoin continues this way is, bitcoin is most likely to set a new currency standards. It has already bitten the dollar by far and I think it will work to a path where it becomes more stable and less volatile, then people will begin to use it more of transactions than investment banks.

Are they really trying to hold the majority of the Bitcoin supply? The last time I read about their accumulation is that they won't be spending any penny but rather use the Bitcoin they had confiscated as their Bitcoin reserve. Did they change their statement about this? As far as I can remember, dollar had been decreasing in dominance years ago.  After the global governments found out that US dollar is not backed by gold anymore, many countries have been planning for de-dollarization. Aside from that, central banks are also diversifying their reserve into different currencies and assets, and are not stuck with only the US dollar.

Yes, the demand for bitcoin from governments right now is not that great, but if other countries agree to make bitcoin the world's reserve currency. Do you agree with me that with the economic potential of the US, they will be able to buy and hold large amounts of bitcoin easily compared to other countries? The world is looking to de dollarize because it is tired of US abuses of power, not because the dollar is no longer pegged to gold. The gold standard was abandoned worldwide in 1971, this is no longer new or secret.

Reality shows a significant increase in wealth accumulation in the hands of the very top (billionaires/top 1–3%). This provides them with the capital to purchase assets on a large scale. Assets from ETFs and public companies have flowed into Bitcoin, increasing the likelihood that institutional money controls a significant portion of the readily accessible market supply. On the state/national side, several governments/autonomous entities are beginning to consider or place Bitcoin into reserves. Conspiratorially, the elite (top 1–3%) possess the capital and channels (ETFs, corporate purchases, regulatory lobbying) to control a significant portion of Bitcoin's market mechanisms, especially the access and distribution side utilized by the majority of users (ETFs, custodians). Clear evidence of institutional adoption and some public accumulation supports this possibility. However, absolute control over Bitcoin as a protocol conflicts with its technical design, on-chain visibility, and community resistance, making a complete monopoly more difficult to achieve. Technical, political, and reputational resistance remain significant barriers.

I'm not being pessimistic to the chance of Bitcoin to become a legal tender in the future, but this idea is still out of my mind. I meant if we are going with that logic, we might still use gold to do the daily transaction, not dollar. That's why gold is being treated as a commodity instead of currency. The same thing that will happen with Bitcoin too. Bitcoin will be treated as a commodity while dollar is still exist.

We still have Gold, they still use the Pound sterling, you can still exchange goods. Where did they fail? Reach was not as wide, although on a lower level their reach is considerately large. Are you aware how much illicit money is in the system? Diamonds are their weapon of choice.

You must research more to know that The US. Dollar domination has been declining, not rising. Firstly, let's see how the US. Dollar purchasing power has been decreased dramatically over time. Visualizing the Purchasing Power of the Dollar Over the Last Century This short report shows how the US. dollar becomes less attractive as international reserves recent years. Gold’s Share of International Reserves Surges Dramatically

I would say the difference between this and bitcoin is the fact that bitcoin is easily accessible for everyone and we were here first. In normal cases, a rich person starts a business, and then we have to pay him to get shares so that we would be able to get rich from his work, that is a method we agreed as humanity and became shareholders. In this case, bitcoin isn't at their hands first and then to us, it's equal to all of us, so they need to spend tons of money if they want to acquire it, and while doing that, they are making us rich by either paying us to get it or they end up increasing the price while getting it. Look at how much people got rich while those rich people bought bitcoin and you will see the difference.

In the 1st World, you try to purchase Crypto and your can kiss your bank account goodbye. Or you want to transfer your earning from your trades, money will be frozen. Easy? Where?