Quote from: TungTresa on December 06, 2022, 12:43:29 PM

In 2019, I was fascinated by Bitcoin after I was introduced to it. I have been following the attitude of governments towards bitcoin and hope it will be promoted. However there has been too much negative news in the past two years. I reacquaint myself with bitcoin and fiat money.

Money is a tool for exchanging goods and services in human social life, and whichever tool makes it into the system becomes the de facto currency. Governments regulate the economy by issuing money, which means they can control it. Bitcoin, on the other hand, cannot be controlled, which is why we like it, but also why governments don't like it.

After I figured it out, I no longer expect Bitcoin to be recognized by the state, and it doesn't need to be. It is part of a special asset, not a currency.
So I don't think Bitcoin is going to become a fiat currency.

Although Bitcoin is decentralized and can effectively alleviate inflation, it will not become a world currency. Some countries now recognize its legalization, but Bitcoin is a volatile and unstable asset, and it is difficult to be accepted as a currency by all countries. Many governments are reluctant to accept Bitcoin because they cannot control it.