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January 15, 2024, 09:53:12 AM |
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Just as the wheel was the beginning of something greater in the sense that it transformed societies and economies that's how I see Bitcoin as the beginning of something too.
In the future, maybe centuries to come, the world could have global currencies. I might even go out on a limb to say "decentralized global currencies", but all that depends on how Bitcoin performs.
I do not believe Bitcoin is what would make economies stable or flourish. I don't believe that because Bitcoin is only a currency. For an economy to flourish or be stable, it needs more than just a good currency. Adopting Bitcoin as a legal tender doesn't take all the economic problems of a country away.
Secondly, Bitcoin as it stands is not even stable so how can it make an economy stable?
What I believe Bitcoin can do is make the world see that there is a better system, and better currency than what we currently have.
Of course, this won't happen overnight, it would take time, and it could be lifetimes to come, but if Bitcoin keeps performing well or all levels, it will be inevitable.
Mind you, it doesn't have to be Bitcoin. I don't know how it would be in the future, I would most likely not be alive by then, but I believe a time will come when the world would need a currency they can use anywhere at any time. A currency where you won't need to exchange for another currency before buying things from a country that doesn't use your currency. And a currency not owned or controlled by a government, company, or person.
But again, all these depend on how well Bitcoin performs and the existence of altcoins makes this more difficult.
It also depends on the digitalization of the world. It'll need to be a time when cash has gone extinct and everybody in the world has gone digital.
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