Quote from: Ozero on Today at 03:46:55 AM

Quote from: Rengga Jati on December 21, 2021, 11:17:52 PM

This has been several times that some people say about Bitcoin that will replace dollars or fiat, or crypto that will replace banks soon.
Well, actually it may be possible, but I am not sure this will be easy and will be done during these 20 years or more.
And maybe, this will not happen.
We know that dollar, other fiat, and banks are centralized, controlled and managed by not only government in each country, but more than it, by a big power behind the world bank.
And , I ma not sure that even this is a digital era, they will let Bitcoin replace fiat. We all know that today, they also crypto develop their services to fit to this digital era, more technology advanced development.

What I think is that Bitcoin will be probably used as one of the global currency, accepted by many more countries and merchants as a currency, less ban and others. But this will not replace.

Decentralized cryptocurrencies, including bitcoin, will never replace the dollar or other national currency of a developed country or replace their banking system. For something like that in El Salvador to happen, it is necessary for the state authorities to make such a decision themselves. But it should be borne in mind that El Salvador is a backward developing country that did not have its own national currency. Therefore, there bitcoin was recognized as the national currency, but did not replace the currency of the state.

Well, many people like to use the actions of EI Salvador as a picture of the ability to displace the dollar or many other national currencies, force these currencies to be degraded and have to cede its place to modern electronic products but in small countries with low savings and allocation, the quantity can meet the need but for large countries, it is a hundred times more than that. In particular, bitcoin does not have a print core to print more and can only be purchased from investors and holders, currency that is not printed more will degrade a developing country and cannot open a budget to cover losses or create more value to balance the market

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