Post
Topic
Board Economics
Re: Why the global currency cannot be 100% internet based and if we will have one
by
1Referee
on 25/03/2019, 23:11:08 UTC
Fiat currency as it is, is quickly adopting cashless policies and easier transactions through the Internet

Governments can adopt every piece of technology they want to provide a better overall experience, but what they don't do is stop the endless money printing, and this is where Bitcoin will always be an amazing alternative. If it isn't an alternative as currency, then it is as store of value as digital Gold.

In the end, I do not see value in one global currency. I like the fact that I can choose to use different currencies depending on the situation. Locally, fiat is super convenient and enjoys 100% adoption. Bitcoin is more a value transfer tool and an internet currency, which is very important too, but we have to admit that Bitcoin very likely won't ever have a globally accepted fixed unit value.

I can walk into any store and spend €1000 and get €1000 worth of goods. If Bitcoin tanks with 5% on the way to the store, you either have to add more Bitcoin to get your €1000 worth of goods, or you have to use fiat. If you think about it, for most people it makes more sense to skip Bitcoin and use fiat directly.