Post
Topic
Board Bitcoin Discussion
Re: Some benefit of bitcoin in my opinion
by
Fiatless
on 18/06/2023, 17:41:47 UTC
 These inquiries are listed below.
1. What do you think about the influence of bitcoins on the worldwide economy?
Bitcoin will trigger an economy that is free from government influence and interference in financial transactions. It will give the common man the freedom to buy and sell goods and services without restrictions. It will also promote an economy where the privacy of people will be given utmost attention. It will be a good tool for nations to invade unjust economic sanctions from other nations. Since Bitcoin doesn't need to go through these international financial middlemen such as SWIFT, nations will freely carry out imports and exports without restrictions.

Quote
2. Do you believe that Bitcoin will one day replace traditional currencies?
Bitcoin will exist side by side with fiat for a very long time. And I don't think it is designed to replace fiat but to serve as an alternative. I am sure that many people have not even embraced Internet banking or even use the ATM. Bitcoin adoption will be gradual because government policies, education, the GDP of nations, and even religious/cultural sentiments will affect its adoption.

Quote
3. Do you believe that Bitcoin will unquestionably displace current financial and economic systems?
I am sure the current economic system will keep fighting to undermine bitcoin. They will keep coming up with diverse excuses why Bitcoin shouldn't be recognized as a legal tender. For now, I can't predict the outcome of this war against Bitcoin. But I am sure that if any system will be displaced it will not be Bitcoin. The current economic system will be forced to integrate bitcoin into its system because it cannot stop it.