Quote from: Streets 2.0 on Today at 08:39:03 PM

I think that dreams of completely replacing traditional money with cryptocurrency bitcoin or alternatives in the near future and even in the medium term is just nonsense. I am sure that even there can be no question of the domination of bitcoin over the common currency until the world is faced with a truly serious financial crisis that will require such a reshuffle. And even when it makes sense, it is unlikely that it will save us from dollars or euros. Most likely it will always exist in parallel.

I believe this is the best scenario.

In order for dollars/euros to be completely replaced, they have to fail completely. I don't want that.

They have advantages, namely, ease of taxing for common goods and services, and fast "transaction speeds".

Their primary disadvantages are that they are not always held to a high level of accountability. They create independent silos across the world, alienating cultures and peoples instead of tying them together for a common purpose. The petrodollar has likely contributed to more war, death, and therewith climate change than bitcoin could ever even come close to approaching.

The benefit of bitcoin is that it keeps dollars and euros in check. A government will not hyperinflate their currency when a cryptocurrency exists that would usurp it (I hope), although tempting it may be. Existing in tandem provides stability by providing a second competitive market. Competition brings out the best, sometimes.