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Bitcoin still has the potential to become the worlds reserve currency. That’s pretty legit.
by eric_cc 3y ago
Bitcoin still has the potential to become the worlds reserve currency. That’s pretty legit.
- packetlost 3y agoNo, it really doesn't.
- eric_cc 3y agoIt absolutely does. What leads you to believe that it doesn’t?
- notahacker 3y agoComically low transaction rate, obscenely high power consumption, extreme concentration of BTC holdings in the hands of a small number of people (and companies who have very little influence of global politics), arbitrary growth rate and cap with no correspondence to economic growth, extreme volatility , inconsequentially small use for legal trade, but above all the complete and utter disinterest in it as a reserve currency outside a small echo chamber that has far more BTC to sell than involvement in international trade. Fortnite Bucks, Mt Gox trading cards, skulls of adult humans and guano also "have the potential to become the world's reserve currency", but it seems unreasonable to put the burden on proof on the people arguing that they won't be.
- jamilton 3y agoGovernments and institutions mostly don't like it, that's a pretty big reason.
- eric_cc 3y agoCan’t argue your point on governments. It will be interesting to see how it all plays out when Bitcoin reaches the next leg up.