Post
Topic
Board Bitcoin Discussion
Re: Bitcoin will not become the world currency.
by
laurenB7742
on 27/12/2022, 05:06:06 UTC
~snip~
El Salvador's future since becoming a legal tender is still a mystery, they are still on the experimental stage and its outcome is not yet confirmed. Other countries or places in the United Arab Emirates, Kingdom of Saudi Arabia and Singapore is also looking forward to become one of the legal tender but they just cannot fathom the risks for now and chose to observe El Salvador's outcome first before taking a huge leap.

And for the bitcoin to become the world currency is not yet possible in the next decades to come and I reckon that it's not also created to be like that. Just like what you've said, the governments of each respective countries aren't going to allow that to happen as there's no way that they can control it as it's also not designed to be controlled.

There's also Central African Republic, they also declared Bitcoin as legal tender.

That has caused some big controversies in the African region where they're pushing CBDCs very hard.

Did you realize that the majority of countries that accept bitcoin as legal tender are usually poor countries with very high default rates? that means they are betting with bitcoins, not they treat bitcoins as real currency. Another thing is that the president of El Salvador is investing in bitcoin, they are one of the sharks in the market, I don't see them focusing on making bitcoin into currency, they are still investing and looking to make a profit from it. It is difficult to think of a way for bitcoin to become a currency.