Post
Topic
Board Bitcoin Discussion
Re: What’s the nature of currency?
by
Pmalek
on 09/08/2021, 13:55:49 UTC
Bitcoin has already achieved consensus. It's users are in agreement that the POW-based technology has its use case and can be utilized to transfer value from point A to point B. As the time goes by, this agreement between people will either increase or decrease based on whether or not a new and better payment system will be created in the future. What the government thinks about the consensus that was reached between Bitcoin enthusiasts doesn't really matter. If people come to an agreement that Britney Spears posters can be used in exchange for goods and services, a government agency doesn't have a say in that matter.     

Do you think that since Bitcoin can be issued without a central bank, cryptocurrency can bypass the state, replace the current legal currency, and achieve denationalization.
I don't think Bitcoin will ever become the ultimate replacement asset for fiat currencies. At least not one that will be private and help people to not pay taxes. But I do believe that the two worlds can coexist and affect each other in a way to iron out their flaws and shortcomings.