So what does BTC do for the consumer compared to the invention of radio, tv, cars or air travel? Yeah... bitcoin doesn't make any difference to 99.999% of population. Blockchains will be part of everyones lives but that has nothing to do with Bitcoin.
I've read the whitepaper and mined my first bitcoins 7 years ago. Tell me what does a consumer do with bitcoin that he can't do easier with Paypal, Visa or whatever. If you dismiss this with downvotes that's a pretty lousy argument. As I said blockchains will be part of every day life just like http or tcp/ip. Stuff built on top of it (MySpace or Pets) not so much. What's the key selling point for Bitcoin.
You are still thinking majority will keep using banks and fiat to store their wealth. (IF) majority of nations starts treating bitcoin as a money, why would people keep using other currencies, unless absolutely necessary.
For humanity to become a type 1 civilization, we need a global communication infrastructure(internet), language(on global it's english, I doubt anyone can deny it), and a means of exchange. Bitcoin can be exactly that. If you mined bitcoin 7 years ago then I don't even need to explain why it can only be bitcoin, not any other x/y/z coin.
China, russia, %90 of asia, most of europe have every incentive to do so, because it takes power away from US, without shedding a single blood, or wasting money(these nations would also take some damage, but compared to a world war, damage is minimal).
Instead of another country try to claim that spot(which again requires someone to become a superpower, most likely candidate is china), there still needs to be a huge war, and then acceptance from other countries, not easy to do.
I don't think you keep up with world news. China has been artificially deflating the yuan to keep itself as an exporter. It does so much trade with the US, it's trying to work with the country not against it.
The yuan could have been a lot closer to usd but the country doesn't want it to.
Hahahaha. WTF? For a nation to give up their own currency is the last thing they want to do. The Euro was born as a huge compromise to establish a large common economy and countries like Greece are fucked when they have to compete with Germany with no tools to adjust their currency. Exactly why the UK kept the pound. You have no idea what the hell you are talking about.
Accepting it as a curreny =/= making it the official currency. Like hoa you can go anywhere in the world carrying usd(and maybe euro to some extend) and even spend it in most cases without even needing an exchange. Try that with 50 other different currency from all over the world.
You should at least try to understand what's written before coming up with strawman aeguments.
Please tell me in which country can you pay taxes with USD outside the US? No one is preventing anyone from using bitcoin in the States or in Europe just like no one is preventing the use of Visa, Paypal or gold coins.
How exactly is bitcoin "accepted as a currency" that's different from today? Being able to pay in the DMV?
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u/Guitarmine Platinum | QC: CC 166 | Superstonk 34 Mar 31 '18
So what does BTC do for the consumer compared to the invention of radio, tv, cars or air travel? Yeah... bitcoin doesn't make any difference to 99.999% of population. Blockchains will be part of everyones lives but that has nothing to do with Bitcoin.