Post
Topic
Board Economics
Re: Replace the dollar with a cryptocurrency. How exactly?
by
margarete11
on 19/11/2017, 21:43:58 UTC
I' ll take bitcoin as an example.

Is it mandatory that the value of all bitcoins is equal to the value of the world economy?

Can this value be archived before all the bitcoins are mined?

When I buy bitcoin someone will take my dollars.
So how can we technically replace all dollars with the bitcoins?
In the end will there always be someone with only dollars in their pockets or  am i wrong?

you are just exchanging your bitcoins for dollars  just like you are exchanging your gold to dollars , there was no need to replace dollars with gold right ? bitcoin was just like that there was really no reason to make bitcoin replace dollar.