Quote from: Lucius on Today at 12:35:48 PM

You don't stand firmly on the ground, and you live in one of your fairy tales and imagine things that are actually impossible. Bitcoin as a decentralized value system will never be able to become what you imagine, because if you haven't noticed China and the US as the world's leading powers have a completely negative or partially negative opinion when it comes to Bitcoin - and it's no different with India or the EU.

Bitcoin may be an alternative to the existing financial system, but it will certainly not replace it - after all, every country is stable and strong as much as, among other things, its national currency is strong. If you think it’s possible for 200+ countries of the world to agree on something, then you really have no idea about politics.

I understand what you mean, you think my view is too exaggerated, or you think I am looking forward to the future of Bitcoin too good. The political forces in the world are very strong now, and big countries such as the United States, China, or India all have a negative attitude towards Bitcoin. They will not allow Bitcoin to shake the country's monetary system. However, this is where we are using the present vision to interpret the future.

Who would have thought three years ago that a large number of institutional investors would go crazy buying Bitcoin in 2021? So five years later, it is also possible that the central banks of many countries start to reserve Bitcoin as foreign exchange reserves? I prefer to look at today from the perspective of the future, such as 10 years from now, or 20 years from now. After 12 years of development, the Bitcoin network has gained recognition and support from more and more ordinary people, and ordinary working people have begun to say no to legal tender.

Then give Bitcoin another 10 years, what kind of global consensus will Bitcoin develop to? I believe that Bitcoin's consensus must be accelerated. Bitcoin's global consensus will become stronger and stronger. The existing political forces will certainly not allow Bitcoin to replace the existing legal currency, but in my opinion, no one can stop the future trend of Bitcoin.

As I said in the article, the "Triffin Dilemma" described, the existing world monetary system is unreasonable and will definitely collapse. With the massive release of legal tender, a worldwide financial crisis will definitely occur in the future, and the existing world monetary system will collapse at any time. This cannot be prevented by a single political force, it is determined by the laws of social evolution.

When the existing world currency system collapses, a brand new order will be established. At that time, do you think the people will continue to choose fiat currencies? Or to embrace Bitcoin? At the same time, 10 years later, today's young people have gradually grown up. They have begun to control political power. At the same time, they are also Bitcoin supporters. Will these young people who have grown up promote the establishment of laws that support Bitcoin? Everything is possible in the future. Let us not let the difficulties we face today constrain our imagination.

Quote from: Lucius on Today at 12:35:48 PM

What if a new world war happens, if the internet infrastructure falls and we go back a hundred years to the past? You think only in one direction, and you don't take into account that the systems you claim will be replaced in 10 or 20 years have their roots hundreds of years in the past.

This is also a great idea. If a new world war occurs and the Internet infrastructure is destroyed on a large scale, which currency system will be destroyed first? In my opinion, the fiat currency system must first collapse. Legal currency will depreciate extensively. If a country is defeated, its currency may really become waste paper. And Bitcoin will, like gold, first become a safe-haven asset. A large amount of wealth will be stored in the form of Bitcoin. Similarly, even if there is a worldwide war in the future, it will be difficult to eliminate the Internet 100%. In extreme network situations, the Bitcoin network can also exist independently of the existing Internet.