The reserve currency is a narrow phenomenon that has more to do with the dying Industrial Age (see my comments in the Economic Devastation thread for more insights).
Bitcoin is serving a purpose in this evolution but it is not the be-all or end-all of this technological transformation.
Make sure you read this:
https://bitcointalk.org/index.php?topic=1082909.msg17458485#msg17458485As you've stated, Bitcoin could become the world's reserve currency - the institutional playground.
I have never said that and have
instead argued that it won't be the reserve currency. Perhaps you are confusing where I have written that Bitcoin is the reserve currency of the altcoin ecosystem.
Yes, my mistake - altcoin reserve.
Would it be possible for Bitcoin to become a global reserve currency at all? I'm assuming competitive collusion among major governments along with addition of control and tracking sufficient to enable AML/KYC for those governments.
The coming SDRs reserve currency will be a compromise by all the nations to fix the coming strong dollar vortex global collapse. That reserve currency is for the Industrial Age economy (the one built with huge fixed capital investment and huge fractional reserve banking leverage). The leftists (collectivists) are enslaving themselves in that dying, but huge albatross monolith.
Gold is dying along with that physical economy. We will still have a physical economy, but it will provide no real economic growth and it will become very small in terms of profit relative to the Knowledge Age economy over the coming decades.
Bitcoin, blockchains, and altcoins are the decentralization technology of the fledgling Knowledge Age which rises to replace the dying Industrial Age, as a network effect of the decentralized Internet. Bitcoin is the reserve currency of that new nascent economy.
The economy and society are bifurcating. I predicted this years ago and have been using that term bifurcation.