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.
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.
If central banks were to collapse anywhere in the near future, like the 20-50 year range, then you will have much bigger problems going on than deciding which cryptocurrency you will lose. If you consider they control the trillions of debt that countries trade between each other and monetary policy, it's not something to aspire to that they disappear. They serve a very useful and valuable role, plus if they are set up correct then they will be making decisions that are independent of the government. They might listen and take hints from politicians, but their main role should be to think and act freely for the optimum stability of the financial system in each country - plus working in tandem with other major economies to avert economic disasters.