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Author Topic: Can Bitcoin save us  (Read 710 times)
Hamza2424
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August 28, 2024, 04:59:59 PM
 #61

With global markets headed towards an economic downturn once again, I'm reminded of why Bitcoin was created in the first place... centralized financial institutions cannot be trusted.
But as the fiat currencies like the dollar continue to deteriorate in value, it's becoming increasingly clear we need a real alternative.

It seems Bitcoin Core has embraced the digital gold narrative, which fails to achieve the original goal of P2P electronic cash. Do these developers really know better?

Hmm, I won't say centralized financial institutes can't be trusted yup I would rather say centralized financial institutions are incompetent and inconvenient these days they are all outdated concerning their services, at the same time I won't say Bitcoin is the digital gold narrative influenced project, and for sure from day one till now Bitcoin is Bitcoin, still the same network and protocols, yup I do acknowledge these days 80% investors treat Bitcoin as their safe investment class assets, and I do support such people as well as they are bringing more reliability of the network.

Bitcoin is still the P2P payment mode yup, with the progression of time, the cost of using this network is increasing and for sure it will increase continuously this is how it is designed bro, you are getting a top-class secure network and reliability.

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August 28, 2024, 06:53:04 PM
 #62

Unless the problem of Bitcoin's high volatility is solved, it will never could replace dollars or FIAT.
I doubt the context of OP referred to Bitcoin as a replacement to fiat or the dollar.
Something we need to understand is that, the fiat is not just a currency, it’s an identity, a mode of doing businesses within a locality and across borders. You ain’t going to through all that in the wind because of a highly volatile or unstable Bitcoin.
What is a government without control, fiat brings the government that control and it is accessible to all unlike Bitcoin that is accessible only to the internet and gadget enabled population.

While Bitcoin might help by some means, it’s not the savior of our economic crisis. The world seems to be growing faster than it’s producing and we need to reverse that.

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August 28, 2024, 07:01:31 PM
 #63

With global markets headed towards an economic downturn once again, I'm reminded of why Bitcoin was created in the first place... centralized financial institutions cannot be trusted.
But as the fiat currencies like the dollar continue to deteriorate in value, it's becoming increasingly clear we need a real alternative.

It seems Bitcoin Core has embraced the digital gold narrative, which fails to achieve the original goal of P2P electronic cash. Do these developers really know better?

With "Wall Street" in the game, I doubt Bitcoin will be able to save the world. Besides, we're still stuck in the Fiat standard. Governments are yet to build their own BTC reserves. Gold is the clear winner here. Unless this changes in the future, don't expect Bitcoin to go anywhere soon.

I believe BTC is marketed as "digital gold" because of its scarcity and unmatched security/reliability. The high fees prevent people from using it as digital cash, anyways. I'm fine with Bitcoin being an alternative to Fiat as long as it remains decentralized and censorship-resistant. Replacing Fiat would be nothing more than a dream. Although, I could be wrong...

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August 28, 2024, 07:33:41 PM
 #64

With global markets headed towards an economic downturn once again, I'm reminded of why Bitcoin was created in the first place... centralized financial institutions cannot be trusted.
But as the fiat currencies like the dollar continue to deteriorate in value, it's becoming increasingly clear we need a real alternative.

We can not rely on the US dollars or any other currency to save the world because they can not. All currency that are centralized has one flaw and that is they are infinite, they keep printing more money when they run into problems but printing more money does not inflation which is the problem and only increase it. Bitcoin can help us to avoid getting our money to get inflated because when we store our money in Bitcoin, and when the price rise it is giving us more money when we covert it to any fiats of our choice. We do not need Bitcoin core or developers to decide what Bitcoin is because Bitcoin was created for the society and we can decide if we want to use it as a currency or as digital gold. We can also use it for the both purpose because Bitcoin is capable of being an asset and also other things.

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