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.
Fiat is a pyramid scheme with an endless supply. Central banks are a relic of an old age money technology.
It is pretty much obvious that both are going to become redundant in the future, when you have a money (Bitcoin), which not only fulfills all the necessary requirements to be a currency but also adds new factors.
Think of VCR's and DVD's. The VCR became redundant after the DVD was introduced, which became useless as new and better technology was introduced. And what happened to those businesses that relied heavily on the old system? Ask Blockbuster.