Quote from: A62662 on Today at 05:38:48 PM

Quote from: mindrust on January 22, 2021, 08:07:01 PM

It won't ever replace FIAT.

Fiat can scale infinitely because it is centralized. There are zero bottlenecks with FIAT.

If some magic happens and Bitcoin replaces FIAT however, it would be same as FIAT without any physical bank notes...

Bitcoin supply is limited and it is cornered by a few people. It would be total chaos and the governments would fall and the next world war would begin.

You guys should be careful what you wish for. Sure, crypto is fun and interesting now.

You are right, total chaos and the governments would fall, and the next world war would begin, but not immediately.

The current fiat system, with the US dollar as the world reserve currency is what keeps the financial system stable. If Bitcoin or some other cryptocurrency should replace it, then the dollar money printing would stop and mass unemployment would be the result, mass starvation and mass protests like we have never seen before in modern times would after some time (maybe a year or two) take place. People would stop going out of their houses of fear of violent gangs roaming the streets, electricity and crucial societal functions would eventually stop. Shops will get looted and emptied, so good luck finding any food to eat.

If you think all that is really bad, the worst is yet to come.

All this chaos would lead to "strong men" ala Hitler/Stalin/Mao as the current political system disintegrates. When they clash, you can expect a nuclear exchange, with multiple ICBM's incoming.

ALL THAT MISERY BECAUSE OF SOME SHORT TERM GREED TODAY. BE CAREFUL WHAT YOU WISH FOR!!

We all have a duty to stop this from happening. You can all be a part of the solution, dont be a part of the problem, avoid the nuclear winter.

Scary yes, not very likely. Maybe a 10% chance, if that. And btw, no electricity no access to bitcoin.