The Worlds reserve currency as we know is the United States Dollar..
Before 4 years there was a story that Libya's General Gadhafi had planned to switch to Gold backed dinars for oil business instead of USD which was welcomed among many arab countries, That move had devastating effect on US dollar as a world reserve currency...Then the Arab spring happened and we watched how Ghadafi was killed like a street dog..
That story is really terrorizing when one begins to think from the point of view of fate of those who challenge worlds reserve currency.
But bitcoin has a potential to do exactly that...Imagine what will happen if bitcoin is used as the reserve currency of transaction for oil and gas.
What will happen?
Before 4 years there was a story that Libya's General Gadhafi had planned to switch to Gold backed dinars for oil business instead of USD which was welcomed among many arab countries, That move had devastating effect on US dollar as a world reserve currency...Then the Arab spring happened and we watched how Ghadafi was killed like a street dog..
That story is really terrorizing when one begins to think from the point of view of fate of those who challenge worlds reserve currency.
But bitcoin has a potential to do exactly that...Imagine what will happen if bitcoin is used as the reserve currency of transaction for oil and gas.
What will happen?
Saddam Hussein wanted to sell oil for Euro at one point as well. That turned out well for him.