I don't think bitcoin can or will replace fiat but the two coexisting might work (at least if a crypto has better throughput - can take a enough transactions a minute).
Primarily using bitcoin might be problematic as current inflation encourages spending (including investments) with a deflationary currency, while enough profits will be made to return more to shareholders than a deflationary currency would offset, investors would likely be nervous/confused about them being able to do that.
Topic: Will "hyperbitcoinization" become a reality? - page 4. (Read 772 times)
For those unaware, "hyperbitcoinization" means the adoption of Bitcoin at a large scale worldwide making it the standard (global) unit of account. In a "hyperbitcoinized" world, you would pay for anything using Bitcoin instead of Fiat. In the past years, Bitcoin's mainstream adoption went up at an accelerated rate. Bitcoin's ever-rising popularity made El Salvador the first country to adopt it as legal tender. As inflation increases at alarming levels, people will seek out for a solution to the problem. And what better way than ditching Fiat in favor of Bitcoin?
What are your thoughts? Do you think we're close to "hyperbitcoinization"? If not, why? What will be of the world without centralized Fiat currencies? Your input will be greatly appreciated. Thank you.
What are your thoughts? Do you think we're close to "hyperbitcoinization"? If not, why? What will be of the world without centralized Fiat currencies? Your input will be greatly appreciated. Thank you.
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