Quote from: Vaskiy on December 21, 2022, 11:56:35 PM

Quote from: Davian144 on December 21, 2022, 10:32:01 PM

Quote from: Lambe Ndumble on December 16, 2022, 09:45:36 AM

The world dependence on the dollar is certainly the biggest advantage of the dollar owner, the value will continue to rise so as to make many countries try to leave the dollar and look for other alternative payment systems, the presence of cryptocurrencies should be a solution for the world to be able to solve financial problems.

The problem is that it will not be easy for every country to implement cryptocurrencies into their payment and financial systems because every country also has rules that must be looked at before agreeing on any new thing to be implemented. So this is not an easy matter for all countries even though it is an option with the aim of making it easier for all countries not to depend on dollars which are in fact still accepted and still useful in almost all countries in the world.

More countries have begun to shift from dollar. Few countries have involved with direct transaction with their own currency. The recent one happened with India and Russia on the oil deal. India paid in terms of Ruble and now alternate trade mechanism to pay in terms of rupees is being designed. The same haven't gained the expected result. Everything have got transition time, and maybe more switching could happen towards bitcoin.

The US$ is indeed losing world market share in the international financial system. While that will indeed injure Americans and their economy there is an interesting idea I have seen floating around...

The USA soon will be unable to be the world's cop. We do not have the money anymore. So, at some point the US Navy will no longer be able to patrol the world's sea lanes. Many/most of our troops will come home. We will be unwilling/unable to help anyone, perhaps limited to our very closest allies. With the world running low on many important resources, and with the world becoming de-globalized, many countries will have trouble feeding themselves. Regional powers (think pre-WW II) will rise and cause problems (wars).

While the rest-of-world may welcome a de-dollarization and lessening of American power, there are downsides that are not often contemplated.