El Salvador? USD is still the official currency (look it up if you don't believe me).
Bitcoin or another stable monetary coin wlll ALMOST CERTAINLY replace printable fiat in the future. In fact, as long as bitcoin grows it IS replacing fiat.
a) Bitcoin growth has not kept pace with its replacement of fiat currency. If it's price is indicative of its replacement, it's going to have to reach well over 100mil to replace fiat
b) Bitcoin's value is measured in Fiat Currency; without Fiat, no one knows the value of Bitcoin.
There's no reason not to have both btw.
It's been a great store of value, that much is true. But who knows how long before it has to actually start delivering on its promises and it becomes evident that it's purely a speculative bubble, like the Dot Com boom, where people were just betting on tech companies being the next big thing without those companies having ever done anything.
At the end of the day, people only invest in Bitcoin because it goes up, not because they actually believe it's the future.
Enjoy your inability to recognize a financial instrument which is more secure, more robust, immune to inflation and immune to counterfeiting as being better than your hyperingflation prone, backed by nothing, printed without reporting, paper money.
Money is merely a construct of transmittable value.
Again, BTC is superior in this in every regard against cash.
El Salvador? USD is still the official currency (look it up if you don't believe me).
a) Bitcoin growth has not kept pace with its replacement of fiat currency. If it's price is indicative of its replacement, it's going to have to reach well over 100mil to replace fiat
b) Bitcoin's value is measured in Fiat Currency; without Fiat, no one knows the value of Bitcoin.
It's been a great store of value, that much is true. But who knows how long before it has to actually start delivering on its promises and it becomes evident that it's purely a speculative bubble, like the Dot Com boom, where people were just betting on tech companies being the next big thing without those companies having ever done anything.
At the end of the day, people only invest in Bitcoin because it goes up, not because they actually believe it's the future.
Enjoy your inability to recognize a financial instrument which is more secure, more robust, immune to inflation and immune to counterfeiting as being better than your hyperingflation prone, backed by nothing, printed without reporting, paper money.
Money is merely a construct of transmittable value.
Again, BTC is superior in this in every regard against cash.
USD will crash before BTC.