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Cardi B Interrogated: Do you think crypto is going to replace the dollar?
Community Reaction: Yes, Bitcoin will.
Absolute nonsense. The US dollar is backed by the full faith and credit of US government. Bitcoin is backed by nothing but air. Currencies need to have stability and implicit trust. Bitcoin falls far short in every respect. Stick to running Twitter.
You do realize the only thing keeping the dollar afloat is that other countries are still forced to buy the dollar in order to exchange for oil, right?
Why do you think those oil producing nations want the US dollar? Consider the concept of the “safety of principal”
Khadafy made a speech to oil producing countries about converting the oil trade to the Libyan dinar which would be 100% backed by his countries gold reserves. He was killed within a year of that speech sending his country into turmoil.
I feel like bitcoin, crypto and all the likes are scams. IDK, they don’t sit right with me! Plus you only hear RICH ppl talk about them.
No! Gravel Institute explains perfectly. It’s a pyramid scheme.
And you don’t think $ is a Scam printing more money ruining things with inflation the price of a 50 year ago cost maybe about 10,000 now the house is about 300,000-500,000.
Bitcoin will replace the dollar. Other cryptos are controlled by small groups of people who can change the rules, so they’re not much different from dollars.
Proof of work’ does not work It’s to slow, it’s too expensive and the energy consumption is absolutely ridiculous. I own it, but it will never be the world currency IMO.
I’m very well versed in cryptography and PoW. Thank you for your input.
It would truly appear that you are not so well versed to make such statements. Or your bags are full of shit coins to make you so blind. I like some other projects too but bitcoin is the only crypto in existence that could ever replace fiat and definitely should.
Nope. That will not happen. Money dollar is physical. Crypto is like a cloud. It’s there but not really.
Clearly you never listen about Adam smith ‘wealth of nation ‘ and it’s chapter ‘origin and use of money.
Look at the evolution of the banking system. Ask your parents how they did banking and how you do it now.
Evolution is human nature, division of labour provide lots of opportunities and expertise.
Nope! They Keep Saying It & Maybe They Wanted To But w ZERO Way To Track Who Sends What To Whom Or Where? Nah They Not Gone Let That Takeover.
The blockchain is 100% transparent. You can see every transaction ever. The US dollar is for more untraceable.
But the users are still anonymous, all you see are addresses.
For US residents, exchanges require KYC – you even have to supply government issued ID for an account to purchase BTC and other crypto with. So yeah, they can know if you bought BTC and used it for illegal activity. USD as hard cash is still king for criminals – hard to track.
Regulated exchanges yeah. But you could just send it to a wallet and say is not your wallet There’s nothing to verify ownership of wallets lol.
No. That’s the story crypto bros tell to attract new money into a risky speculative investment Another term for this arrangement is Pyramid Scheme
The US dollar is far riskier. Have you seen the inflation rate?
The U.S. Dollar is a currency.
Yeah, it is a currency run by FED bros that print it and devalue it like crazy while trying to attract new money into speculate with it.
No, if it ever threatens to do anything like that, cryptocurrency would get outlawed. Countries have a fundamental interest in maintaining control over currency and monetary policy.
Bitcoin is the only one with a fighting chance of becoming a global reserve currency.
Proof of work’ does not work It’s to slow, it’s to expensive and the energy consumption is absolutely ridiculous. I own it, but it will never be the world currency IMO.
That’s not smart if there is no more dollar for the government to control they will control cryptos making us more controllable. With the flick of a switch, you will have no access to Your money if they want. That’s the devils plan the mark of the beast etcetera. We need crypto and fiat.
Yes. At least at some capacity. They’ve been trying to get rid of manual cash for a while because they can’t track it. I think they still need to figure out how to maneuverer through it because Crypto is still hard to track just like cash depending on how it’s stored.
Look for Lightning network. I mean, most of people are just using government controlled platform to trade in cryptos. Now, crypto is a weak attempt to compete with Bitcoin. Bitcoin is another history.
True. That makes it more accessible. However, there are other coins that are doing well that aren’t publicized that are almost as high and although I don’t understand the mechanics of what makes the Crypto fluctuate in one direction or another. They are moving.
