Post
Topic
Board Bitcoin Discussion
Re: "Bitcoin is the Global Reserve Currency: A look at banking in 2050"
by
avikz
on 30/05/2019, 02:33:46 UTC
We just published an article examining banking under the gold standard and predicting what banking might look like under a Bitcoin-backed global economy:

https://beyondhy.pe/bitcoin-reserve-currency

It's great for imagination but not the reality! Even though I want this to happen, but I don't see it happening! No Banks or governments will use a currency created by an anonymous person/group to be used as a reserve currency of their economy.

There will be virtual currencies most definitely but that will be not bitcoin or any other cryptocurrencies that we know now. It will be a government created cryptocurrency where total control will remain with government only! Because if we move to a completely virtual currency, tax aversion will be zero/minimal. That's what every government is trying to achieve nowadays.

However, the reserve will remain the same as today, like debt and GDP. A commodity will never come back as a reserve!