Post
Topic
Board Press
Re: [2020-12-9] Will bitcoin end the dollar’s reign?
by
Lucius
on 10/12/2020, 12:01:24 UTC
At the time of writing this thread there was no paywall at Financial Times for this article  Wink

Maybe you read this article on Google Discover on your smartphone like I did? Otherwise, no subscription means no reading.



I can only agree that the US dollar will come to an end to be the world's reserve currency, as the article states that it has happened with other currencies that once had that status (UK, Spain, Netherlands). However, it is not very likely that in the near future Bitcoin will be the one to end $ reign, because I don’t think most countries in the world will agree to use something they can’t control.

Advancement in quantum computing will make the current technology for cryptocurrencies obsolete within the next few decades.

Well, not only will computer technology advance, it is to be expected that cryptocurrencies will also improve in the sense that they become resistant to new challenges. If someone today could say with certainty that in, say, 20-30 years, the security of Bitcoin will be compromised by quantum computers, how would that affect anyone who wants to invest in Bitcoin in the long run?

If you search only Bitcoin Discussion board for "quantum" you will get 5 pages of results, and in more or less everyone the conclusion is that Bitcoin will be able to cope with new security challenges.