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Author Topic: What if Bitcoin replaced the Dollar?  (Read 1697 times)

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Offline robertsmarkTopic starter

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What if Bitcoin replaced the Dollar?
« on: February 08, 2021, 11:52:33 AM »
Global adoption of Bitcoin could cause the mother of all financial crises, according to Experts. Experts suggest that Bitcoin replacing the dollar could destabilize conventional markets as well as crypto markets. Experts argue that the quantitative easing of Bitcoin will nearly trigger untamable hyperinflation of various currencies worldwide. Experts add that there is enough data to prove the effectiveness of quantitative easing over price inflation worldwide.
While Bitcoin may have both the advantages of gold and the convenience of being a digital asset, it is entirely decentralized. Unlike gold, its volume is predictable and permanently fixed. Moreover, Bitcoin can be divided into tiny amounts, making it far more adaptable than gold as a medium of exchange. Additionally, as its value increases, the prices of the goods and services it can buy will eventually fall.
However, hyper-inflation will still be a huge issue, according to Experts. Experts add that the hyper-inflation will be followed by a social, political, and economic collapse if Bitcoin and cryptocurrencies were to replace fiat currencies.  This is because Bitcoin’s journey to the top is dependent on the Dollar’s collapse. The failure of the U.S. the dollar may cause economic unrest and international chaos.


Offline mlawson71

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Re: What if Bitcoin replaced the Dollar?
« Reply #1 on: February 08, 2021, 06:24:06 PM »
Bitcoin replacing the USD is extremely unlikely to happen, I think.

Offline Dora WalletInvestor

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Re: What if Bitcoin replaced the Dollar?
« Reply #2 on: February 09, 2021, 08:46:47 AM »
You are right, even though it would be nice for bitcoin to be more mainstream, replacing a fiat currency with it would require so many changes that it would definitely disrupt the way markets around the world work. Especially if we think about replacing the dollar, which is such an important reserve currency worldwide. If we ever transition from fiat currencies to cryptos, it will probably happen through CBDC's, not bitcoin.
Check out the latest forecasts and news about cryptocurrencies, stocks, forex pairs and more on WalletInvestor.com

Offline mlawson71

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Re: What if Bitcoin replaced the Dollar?
« Reply #3 on: February 10, 2021, 07:11:22 PM »
Bitcoin may not replace the dollar, but it is definitely going mainstream. Tesla announced they are investing 1.5 billion USD in Bitcoin and they will allow payments to them to be done in Bitcoin. I think that is an incredible achievement for the crypto industry and Bitcoin in particular.

Offline Kenzie

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Re: What if Bitcoin replaced the Dollar?
« Reply #4 on: February 13, 2021, 09:14:25 AM »
Bitcoin could potentially replace the U.S. dollar as the world's reserve currency, currencies serve as a medium of exchange, a store of value and a unit of account.

Offline mlawson71

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Re: What if Bitcoin replaced the Dollar?
« Reply #5 on: February 14, 2021, 04:50:54 PM »
Can it? I still think it is a pretty tall order.

Offline Dora WalletInvestor

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Re: What if Bitcoin replaced the Dollar?
« Reply #6 on: February 15, 2021, 06:32:01 AM »
Can it? I still think it is a pretty tall order.


Definitely, I don't think it is possible for Bitcoin to replace the dollar. There are some interesting points about this in this topic.
Check out the latest forecasts and news about cryptocurrencies, stocks, forex pairs and more on WalletInvestor.com

Offline mlawson71

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Re: What if Bitcoin replaced the Dollar?
« Reply #7 on: February 15, 2021, 10:50:31 AM »
It certainly won't happen in the near future. Of that I am certain.


 

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