The invention of Bitcoin has strategically placed the world economy in another dimension.
There is no doubt that the invention of
BTCitcoin is the biggest innovation in economics. There are several other big inventions that have emerged in this millennium, including mobile infrastructure and high speed networks and many more.
Those who have the knowledge about Bitcoin are actually using the already bastardized fiat to purchase Bitcoin. Instead of holding or hoarding the fiat people prefer holding or hoarding bitcoins for future use.
El Salvador is the only country that recognize
BTCitcoin as an official legal tender. If you are living in any other country, you must use fiat currency to carry out transactions locally, unless alternative payment options are accepted.
It is also interesting to know that when ever bitcoins value drops, people talk about it a lot meaning bitcoins have eaten deep into the world economy at large. Some people actually save in bitcoins not fiat because the value of the Bitcoin appreciate more than the fiat.
This is true for any investment, if there is a stock market bubble, we discuss it. Cryptocurrency is a highly volatile market, compared to traditional finances. Even in El Salvador, majority of the citizens decline to save or transact in
BTCitcoin.
Despite all this, if you are smart, you can use
BTCitcoin to hedge against your local fiat currency, if you are living in an unstable economy.