When Will Bitcoin Replace Fiat Currency?

When Will Bitcoin Replace Fiat Currency?

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  1. I love Bitcoin but we need to be realistic, inflation encourages people to spend, deflation encourages the opposite, this is why we hodl because we think it’s underpriced or too valuable.

    Hard to imagine economy thriving when people know the value of their currency will keep going up and there will always be more scarcity

    As already said above by another user I believe a more realistic scenario would be a combined economy where fiat is used for everyday transactions like buying your kids an ice-cream or buying groceries and Bitcoin used for property markets, audits or as a collateral for taking out loans etc

  2. tldr; Cathie Wood’s investment firm ARK Invest purchased $13 million worth of Grayscale’s Bitcoin Trust (GBTC) shares in 2 days when Bitcoin briefly fell below the $30000 mark. JPMorgan has opened the doors to cryptocurrency trading for all of its wealth management clients, thus becoming the first major financial institution to provide digital asset services to its retail clients.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  3. In my opinion, it mostly depends on when fiat currency will inevitably falter and start rapidly hyperinflating.

    It is not so much that Bitcoin will “win” but rather that the dollar will inevitably self-destroy, leaving no other viable alternative in its wake than what happens to still work, which is: Bitcoin.

    Hence, the real question is:

    How much money printing will turn out to be too much, and when exactly will the point of no return be reached?

  4. No. BTC is like Gold for asset in US. However for less fortunate countries, it will be an option as legal tender like El Salvador. I think we need to see the global perspective and not just US.

What do you think?

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