Quote from: Abiky on February 06, 2023, 03:11:04 PM

Quote from: Iroh on February 06, 2023, 05:54:48 AM

What you mean by bitcoin is here to strengthen the fiat currencies in the world if only they understand the coin and adopt it? In my opinion and opinion varies, Bitcoin is not here to become a world currency neither is it here to strengthen fiat currencies. Why would it want to strengthen fiat currency?

Bitcoin has come to be a great alternative to the fiat currencies and the present financial system and not to strengthen it.
Think about it, if it was here to strengthen and support the present traditional financial fiat system of payment, then governments of the world would love bitcoin and support it.

Bitcoin was designed to rival Fiat currencies, so don't think for a second it will "support the present financial system" anytime soon. While most governments have approved of Bitcoin, deep down, they hate it. Banks have been pushing against Bitcoin, claiming it's a fad or "illegal" money used for criminal activities. None of these entities want Bitcoin to succeed, otherwise it would signal the end of Fiat.

It's all about power/control, so I'd expect Fiat currencies to become stronger in the long run. Who knows what the future holds for Bitcoin as an alternative monetary system? Just my opinion

It depends on the perspective you are taking here. If you mean by stronger that Fiat gets more support and is even more exploitable by already established institutional frameworks, i.e. banks and politics, then yes, as soon as it goes digital it will be much stronger in the sense that governments can pull off even more shenanigans against their citizens.

But I think that time might also play into the hands of Bitcoin advocates. Right now we are arguing a lot with older generations, people who fear the status quo under which they grew up is now threatened. Psychologically that is almost perfectly normal behavior. Now with time passing by it is likely that more and more Bitcoin advocates also get into political positions of power. What is the chance that a president of the US in 20 years from now is a Bitcoin fan compared to Joe Biden being a Bitcoin fan? That's really an important factor in my opinion. The generation that is now speaking against Bitcoin is mostly people at age 50+ in powerful positions. If by tomorrow people between 25 and 40 had a majority vote, everything might be looking quite differently for Bitcoin in the positive sense already.

Time will tell!