Bitcoin as currency reserve

in #money6 years ago

To those of us who intimately understand how messed up our current monetary system is, Bitcoin becoming the world reserve currency is an inevitability.
Something else may eventually supplant it, but it's only a matter of time before the fiat scam is exposed and imploded.

More and more, starting with smaller institutions like this bank, we will see the adoption of Bitcoin as the new standard for money transfer. This, combined with Bitcoin's store of value, will see it one day replace the USD as the world's reserve currency.

Read: Argentinian Bank Now Using Bitcoin for Cross-Border Transactions https://goo.gl/ZDPs4s

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Thing is, it is entirely up to the people if they want to start using it. Nothing is stopping us from making the decision.

We are too focused on its 'value' compared to fiat, not understanding its true value is if we decide to stop using government currency and use one that cannot be regulated.

We are a ways from this for a couple of reasons - one the technology is not in a great place to support mass adoption. The other is what I mention above, that we are looking to make fiat from it versus using it per Satoshi's intent.

Bitcoin could be a reserve currency which the world will come to adopt but the thing that worries me is the speed at which these financial institutions and countries accept it. I hope it won't become a scenario where the rich and high mighty converts it into something else and uses it as another commodity to deny the poor from even having a chance to improve their lives through investment. We are aware that when any thing becomes generally acceptable by the population, it becomes difficult to access by the middle class and the poor and mostly affordable by a few sample.