Topic: Would Bitcoin no longer be Bitcoin if it were adopted by everyone in the world ? - page 3. (Read 442 times)
December 06, 2022, 11:29:28 PM
Though it would be a lot less attractive as an investment instrument when it reaches 'peak' adoption, why would bitcoin lose value if it's capped at 21 million? Especially if we're making the assumption that it would be the only running currency.
December 06, 2022, 10:33:29 PM
Satoshi created bitcoin intending to replace the centralized fiat system, meaning bitcoin is designed as a currency and not an investment asset. But people turned bitcoin into an investment and spread it to the next generations, and now most people only know bitcoin as an investment rather than a currency.
Regarding the case where the fiat will disappear completely, I think it will never happen because the government will never let that happen or if it is eliminated, it will also be replaced by some government-generated method, not bitcoin.
We live in a centralized world and the government controls everything so we can't expect something decentralized to be accepted as the main and only method, if ever, bitcoin it would just be an alternative besides fiat.
Regarding the case where the fiat will disappear completely, I think it will never happen because the government will never let that happen or if it is eliminated, it will also be replaced by some government-generated method, not bitcoin.
We live in a centralized world and the government controls everything so we can't expect something decentralized to be accepted as the main and only method, if ever, bitcoin it would just be an alternative besides fiat.
December 06, 2022, 10:01:36 PM
Assume one day, Bitcoin would be the only survivor as cryptocurrency in the world and each individual, company, organization and goverment would abandon all fiats/currencies and take Bitcoin as the only payment. When all obstacles were gone, Bitcoin would actually become a combination of both fiat and investment asset. However, as demand and supply were not to fluctuate much, the price of Bitcoin would be really stable and the value of investment would deteriorate. The two factors/purposes (fiat vs investment asset) will be contradicting each other all the time. If that happened, what's the point of making Bitcoin worldwide acceptable while losing its value and nature of Bitcoin ? Metaphorically speaking, the hunting dog may be killed when all prey animals are gone.
What is your opinion ? Please let me know. Thanks.
What is your opinion ? Please let me know. Thanks.
Jump to: