Quote from: cengat on Today at 10:00:21 AM

Quote from: Pokapoka124 on December 17, 2020, 06:33:36 PM

Today we saw bitcoin hit an all time high of $23k while its traditional counterparts are suffering a decline in value. Historically, when someone desires financial stability, they naturally go for safe investment is, such as gold, stocks, real estate. But with the outbreak of the corona virus pandemic we have experienced a shift in global economy, countries are facing inflation. As a result many individuals are beginning to see Bitcoin as a safer investment than its counterparts. Countries are slowly adopting crypto as a means of payment. Will bitcoin eventually dominate the world economy and replace traditional currencies?

No it won't, at least I don't see that future.
Bitcoin will remain as an investment instrument for whales as it is right now.
Cryptocurrency will most likely replace fiat currencies or at least will be as popular and as adopted as fiat.
You should understand that bitcoin is already 10 years old and it won't be updated properly probably ever.
So I believe in crypto dominating the world, not bitcoin in particular

Bitcoin won't replace fiat in general. It might be very popular right now because of its new all time high but it won't change the fact that its fully decentralized and this is the reason why the government won't accept it as a legal currency like fiat. Bitcoin has become a safe haven for crypto enthusiast but majority of the people still prefer gold, stocks and real estate as a safe haven.