Post
Topic
Board Bitcoin Discussion
Re: Some inspiration in the future of Bitcoin from the history of paper money
by
NeuroticFish
on 03/08/2021, 06:57:34 UTC
Before Bitcoin appeared, we seldom doubt the reasonability of currency.

As a matter of fact, wealthy entities did that, hence they kept their funds "locked" in gold, art, properties, ... name it.


Correspondingly, paper money is gradually fading. I believe in the next two decades, cryptocurrency issued by private company and legal electronic currency launched by the central bank will replace paper money. Perhaps, in the few decades to come, paper money will indeed disappear.

A way of "currency" that doesn't need electricity, internet and such may have to keep remaining in use in certain regions of the world for quite more years. I think that while the "few decades to come" can cover over 90% of the population, the remaining will need (exponential?) more time.


5. Bitcoin is the best value storage carrier. Bitcoin itself is valuable. Future currency will also be anchored by Bitcoin;

While this has indeed pretty good odds to happen, it may make it even more a "digital gold" than a "currency". I have mixed feelings whether this would be good or not.



And as a side note: while the post is informative for those who don't read much, it's also (too) long, hence those who don't read much may not read it all (and the informative part remains just wasted time for those who - more or less - know the history). An idea you should think on is to reduce your posts' length where possible.