I would guess that states do not have to, but we also have to realize which nations? I mean central Africa made it a legal tender if I am not wrong, so did El Salvador, so if those two governments ever paid each other for something then they could use bitcoin for the transaction. Obviously it would be very tough for those two nations to have anything in common enough to make a transaction, what are they going to buy from each other, but at the end of the day it's a possibility.

Right now, not many nations made it a legal tender, but if that type of movement grows then we could see nations do send each other bitcoin for payments and that would be a lovely thing.

There's a big difference of talking about fiat and crypto they aren't the same and each one of them has its role. Why not accept the fact that Bitcoin can coexist with the existing fiats and I don't think Bitcoin will be ever designated as a world currency because no matter what we think there's always a government that would hinder this to work. They are all pro-bankers or shall I say it's the banks telling them to do it or else there are consequences. Who knows? But I don't believe in Bitcoin as the next world currency, it has a lot of red flags if you think about it. Well both actually have their own pros and cons.

I know Bitcoin is getting adopted by many countries worldwide, but let's not get ahead of ourselves. Fiat is and will always be "king", because it's backed by the government. Which means the USD won't be going anywhere as the world's reserve currency anytime soon. Even if it did lose its status as the "reserve currency of the world", it certainly won't be replaced by a decentralized cryptocurrency that's outside the reach of both central banks and governments worldwide.

I'm fine with BTC just the way it is, as long as it proves to be a strong alternative to existing Fiat currencies. What's important is that people can get true financial freedom no matter where they are in the world. Bitcoin is already doing its job pretty well, so there's that. If it stays decentralized, it will be able to last a lifetime. Maybe it will co-exist with Fiat decades into the future? Just my opinion

Bitcoin is already a currency and it is the leading cryptocurrency in the market now with huge liquidity and momentum. If some countries decided not to accept Bitcoin as a legal currency that will not be a problem because there are some countries that are already planning to make Bitcoin a legal tender. Things are changing gradually and with time the US dollar may not be the world or universal currency that will be used to make trades and transactions so we don't know the next currency that will dominate the market but with time people are going to see the need to accepting Bitcoin for transactions and payments.

It is tough to expect the destiny of Bitcoin or another cryptocurrency with certainty. While Bitcoin and different cryptocurrencies have received good sized interest and recognition in latest years, they're nevertheless now no longer as broadly widespread as conventional fiat currencies.

One of the principle demanding situations going through Bitcoin and different cryptocurrencies is their volatility. The cost of those currencies can differ extensively over brief intervals of time, which makes them much less appropriate to be used in regular transactions wherein human beings commonly need to understand the precise cost of the products or offerings they're purchasing.

In addition, there are nevertheless a few technical and regulatory problems that want to be addressed earlier than cryptocurrencies may be broadly used as a substitute for fiat currencies. For example, the infrastructure for accepting and the use of cryptocurrencies as a shape of price isn't always but as evolved as it's far for conventional fiat currencies.

Thats right, Libra was a scam no other than basically all alt coins. Facebook wanted to trick uninformed people to buy the coins to weaken the crypto market and also to look innovative to get investors to buy more stocks. I am very glad that it failed but at the same time libra was so bad, that the failing also did not surprise me at all 

No. I think bitcoin will just become a part of the system and the economy will react to it as a whole. But I don't think it will "lead" the market. But the fact that it will be a huge and important thing for the markets and economy is great too.

But I think we still have a long way to go before that. It's hard to predict how fast adoption will go up but it's clear that we need to wait until bitcoin will come back to at least 50k.

Yes, Libra is not going to be decentralized. Thank you for pointing that out. I just forgot to analyze what I mean when I was talking about the government's stance on cryptocurrency.

I don't know about Ethereum but for Bitcoin, if the government have the power to shut it down I think they would have done that. meanwhile, they can still manipulate the mining of Bitcoin.

Based on my understanding. I don't see the reduction of the fiat currency dominance is the reason why the government won't accept decentralized crypto as mainstream. They just don't like the currency not solely controlled by them

There is nothing like leader in the market because market exploration is any project's ultimate goal. Since bitcoin entered the market early and has a high trading volume, it is the only cryptocurrency that now dominates the market. It comes in first place on the list, followed by Ethereum. Bitcoin is a leading effort in the field and its existence does not stand for others; rather, it is intended for everyday transactions. Fiat money differs from cryptocurrency because it is supported by governments as a generally recognized form of payment.