0 sats \ 4 replies \ @Coinsreporter OP 22 Mar \ parent \ on: Bitcoin Is On Its Way To De-dollarize The World bitcoin_beginners
Dollarization is a pre-requisite to bitcoinization. Not invalidating any thing you said. However, I am a beginner so it might seem oversimplified to a veteran. Also, I was trying to tell that de-dollarization is happening. It's happening at macroeconomic levels now. Countries like China and Russia, and even India, are grouping together to find other means. They are so far successful as well in their attempts.
write
preview
51 sats \ 3 replies \ @justin_shocknet 22 Mar
As I stated, the world is NOT de-dollarizing, it is dollarizing at the expense of other fiats.
Brazil Russia India China (BRIC) were never dollarized, that's exactly why they've always been looked at as global competitors. They are global competitors to the dollar only because they make stuff and people buy it with whatever currency [they] demand.
Now should BRIC countries unify their currency, that would be teaming up to fight or slow the relative strength of dollarization happening around them. If they were dollarized it wouldn't matter, they could just Bitcoinize.
Small fish gets eaten by a medium sized fish, medium sized fish gets eaten by a large fish. Money works this same way. Dollar is the medium fish and it's got plenty of eating left to do.
reply
0 sats \ 2 replies \ @Coinsreporter OP 22 Mar
But ultimately it will be eaten by.
reply
11 sats \ 1 reply \ @justin_shocknet 22 Mar
You mean ideally... Ultimately implies some evidence of inevitability, but all evidence has been to the contrary.
Here we are on a Bitcoinized discussion board, and yet, there are territories dedicated to the proliferation of fiat payments tech.
Since there's always going to be people without any wealth to protect, there's always going to be a fiat shitcoin the wealthy use to coordinate them.
reply
0 sats \ 0 replies \ @Coinsreporter OP 22 Mar
Things are changing, mate. It won't be overnight but it surely be.
reply