Quote from: KaliLinux on February 22, 2022, 08:29:31 AM

Quote from: dezoel on February 16, 2022, 09:09:28 AM

People can never lead themselves, there is always going to be the need for leaders to be in control.
So, whenever I see people who keep saying that Bitcoin is going to overthrow the government or take down the central banks, I just say that those people don’t even know what they are saying at all and don’t understand cryptocurrency.

The good thing about cryptocurrency is that it provides an alternative to the Fiat we are using, but that doesn’t mean that it is going to take down the central banks or stop the Fiat currency that we are making use of right now.

Fiat would still continue, and the government will still be there, same thing as the central banks, they will all be there and Bitcoin will just serve as an alternative when it comes to making transactions. Is as simple as that.

Thank you, This has always been my argument too. I don't see Bitcoin overthrowing any Government and replacing Fiat, even in El Salvador where Bitcoin has been made a legal tender, did it mean that the citizens can no longer use their old Fiat currency, and is there no more Government in the country? and for now, this is a one-off case. I don't think that was the idea behind Bitcoin, replacing Fiat currency instead as an alternative means of finance.

What @KaliLinux said is true, because so far fiat money cannot be separated from the economic life of a country even though the country fully adopts bitcoin, as we all know El Salvador does not have a currency so they use American USD as currency and make bitcoin as an alternative in the country, even though bitcoin is legal as a means of payment in that country but still their people need usd to pay for the services or goods they buy, I think not all El Salvadorans will understand the use of bitcoin so some of them they may still convert it into USD.