Post
Topic
Board Bitcoin Discussion
Re: Can Bitcoin truly evolve into super-sovereign currency?
by
avikz
on 28/07/2021, 13:45:42 UTC
That's interesting! Super sovereign currency can actually bring a standardization in world trade. But if I think from the perspective of bitcoin or whether it has the chance of becoming a super-sovereign currency  or not, I see only negative!

Apologies for not sounding positive here but there are two main reasons why we wouldn't see bitcoin as a super-sovereign currency ever.

1. No central issuer
2. Extremely volatile

No matter how much technical and theoretical attributes bitcoin has to become a super-sovereign currency, no government will ever accept a currency system to dominate the world trade which is decentralized in nature.

Money is a "promise to pay" instrument and must have an issuer to fulfil the promise. So as per the definition of money, bitcoin doesn't fall under a category of money!