(September 7, 2021 at 8:32 am)Foxaire Wrote: Unless they're willing to convert cash to crypto, it won't become a universal currency.
No govt in history has ever allowed a competing currency to coincide with the official govt currency.
The only reason that bitcoin is still in use is because the authorities don't consider it a thread. It's a mere speculative asset.
Winter, don't think for one second that bitcoin cannot be traced and/or confiscated.
Technically bitcoin isn't even currency. People can use it as a medium of exchange but people that hold bitcoin, don't have it to buy stuff. They have it as an investment which they believe will go up in value. A true govt currency MUST have a corresponding bond market (this gives the currency stability in price). Bitcoin will never have this status. Nor is it a coin, nor is it gold in color. It's a speculative asset. It will crash just like everything else before the end of the year and hold on to your hats because 2022 will be a doozie!
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Know God, Know fear.
Know God, Know fear.
