Quote from: Abiky on Today at 06:10:11 PM

With central banks struggling to keep inflation under control, people are beginning to lose trust in the traditional financial system. Some politicians (eg: Javier Milei) even suggested to abolish central banks as they're the main cause of the world's economic problems.

If the global economy continues to deteriorate, do you think central banks will collapse? If that happens, it will be the end of Fiat for good. In such a scenario, do you think Bitcoin will become the currency of the world?

What's your opinion? Your input would be greatly appreciated. Thanks.

Bitcoin has failed and because of that Bitcoin cannot be the currency of the world again and all because of the congestion and the high transaction fees. If Bitcoin becomes the number one currency in the world then inflation will be more than like this present generation because because of the high transaction fee and people, sellers will like to sell their goods to cover the high transaction fee they have paid when using it to buy things. And also the main purpose of Bitcoin of p2p which Alice and Bob made their transaction has been failed. The Whitepaper said Bitcoin is a digital currency to buy goods and services online. How many people in the world that is using Bitcoin has used it to buy things online this week. Even this year in my country it would be problem.

So the existence of the central bank with it commercial banks are still vital in the world. Everyone now is going to investment with Bitcoin and nobody wants to use it to buy and no shop wants to accept it mostly in the third world countries. But I can't speak for the advance countries. And it is only politicians from the leftist side can asked to abolish central bank and not the capitalist scholars. And if we are to use Bitcoin as a global countries then the transaction fee should be eliminated.or it should be very minimal for even a ordinary groundnuts seller can when selling on the street and Motor parks.