Re: "Bitcoin cannot become an alternative to fiat currency"- says Yanis Varoufakis
Famous personality, Greek politician, and former Finance minister, Yanis Varouakis recently responded to the open letter sent to him by Bitcoin socialist Ben Arc. In reply, he said that Bitcoin’s dominance is a threat to the economy and social life. What made him to reply this? Read more https://coinpedia.org/news/massive-bubble-would-be-built-on-bitcoin-criticizes-top-politician/
Bitcoin cannot become an alternative to fiat Currency as the man said ^- Agreed
Since Bitcoins is mostly dependent on internet , high transfer fee , lightning network is still work in progress , plus not everyone does have access to Bitcoins , nor it's is legal in most nations , therefore there is no way that it is going to actually kick out the Fiat.
I still to this day take it as a better investment policy.
Bitcoin dominance is a threat
- DISAGREEWhy? Isn't the oppressive Government+ Corruption + money laundering in Fiat more of a threat as compared to the Bitcoin dominance . What are they scared of ? It's not even that dominant right now .
Government have literally failed people in many countries like Africa ! People have to live for themselves and fend for themselves therefore they have to actually find some alternative.
When they finally have one the Government is scared that they will loose their dominance and at the end it will mean people will have power and they can speak up ! Just like Venezuela.
Cash is used more for money laundering and other services , even gold , these things are far more unregulated in this world .