I am, admittedly, new to Bitcoin but this question never leaves me. If bitcoin is not a bubble, if bitcoin somehow makes itself the international standard currency, what happens to the people who never bought bitcoin? Will they be provided a timeframe in which they will have to exchange their money from traditional currency to the cryptocurrency before traditional currency is phased out and deemed worthless or will there be another method of transition?
Bitcoin still in the early of development, it's way too far to think about bitcoin become
the international standard currencyIn fact, I don't think bitcoin can achieve that due to some basic reasons such as;
- Fiat currency is the legal means of payment in every country, bitcoin is not.
- Bitcoin can't afford massive transactions due to scale problem
- Bitcoin is an alternative currency, doesn't meant to be the main currency to replace fiat currencies such as dollar or euro.