Satoshi knew that fiat was a bullsh*t system which is why he created bitcoin in the first place. Gold is the only true store of value, and bitcoin is digital gold. No idea what fiat is..
Satoshi knew that fiat was a bullsh*t system which is why he created bitcoin in the first place. Gold is the only true store of value, and bitcoin is digital gold. No idea what fiat is..
Absolutely there is no doubt about this, Bitcoin will eventually become our digital gold in the nearest future, but fiat still has a great role to play in this industry. For now, until government dealers another mean as legal tender, there is no gold without fiat and there is no Bitcoin too without fiat.
For everyone to get gold, fiat must have exchanged hands while this is also applicable to Bitcoin too, that is why satoshi never created crypto to compete with fiat but rather serve as an alternative payment tool to fiat, so there is no competition here, bitcoin is just a way to simplify the difficulty fiat has brought to its user as regard payment.
What are you talking about? Did you ever look at BTC whitepaper? It describes different and very specific practical goals.
Abstract.
**A purely peer-to-peer version of electronic cash would allow online
payments to be sent directly from one party to another without going through a
financial institution.** Digital signatures provide part of the solution, but the main
benefits are lost if a trusted third party is still required to prevent double-spending.
**We propose a solution to the double-spending problem using a peer-to-peer network.**
The network timestamps transactions by hashing them into an ongoing chain of
hash-based proof-of-work, forming a record that cannot be changed without redoing
the proof-of-work. The longest chain not only serves as proof of the sequence of
events witnessed, but proof that it came from the largest pool of CPU power. As
long as a majority of CPU power is controlled by nodes that are not cooperating to
attack the network, they'll generate the longest chain and outpace attackers. The
network itself requires minimal structure. Messages are broadcast on a best effort
basis, and nodes can leave and rejoin the network at will, accepting the longest
proof-of-work chain as proof of what happened while they were gone
People moved away from using gold as a basis because it became pointless, and you want to move back?
It is better to focus on new ways of economic interactions which could be done only via crypto, instead just adding "blockchain" and "BTC" everywhere you could. Nothing will change in the world economy if you keep threat new, potentially revolutionary things, the same way as old one.