Quote from: avikz on July 28, 2021, 01:45:42 PM

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!

Quote from: Baofeng on July 28, 2021, 09:28:57 PM

Maybe there will be certain groups of countries that will make bitcoin as super sovereign currency. Perhaps they will form and bond together to push bitcoin globally. But for sure it will be opposed by top countries, Dollar, Yuan will still be the standard to be used by global trades. They will argue against it as we all know that bitcoin is volatile and unstable and we only have limited supply. Bitcoin can grow tremendously, no doubt about it, but pushing to be a super sovereign currency? I highly doubt it for now.

Thank you for your reply. I also understand that making Bitcoin a truly super-sovereign currency is a long process. The existing mainstream fiat currencies will try to prevent this. This is why the existing government rejects Bitcoin. However, I believe that the day when Bitcoin becomes a super-sovereign currency will come sooner or later. This is determined by the progress of science and technology and the laws of social evolution. No one can stop it.