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36 sats \ 0 replies \ @kepford 12 Mar \ on: Why Bitcoin Will Not Replace The Dollar econ
These statements have MUCH more weight to me when they have a time frame around them.
For example, I would agree that bitcoin will not replace the dollar in the next decade. Very very unlikely. Will it in 25 years? I still think its unlikely. If you go beyond 30 years I think it becomes more and more likely.
For me it is the following
- Can bitcoin function better than the dollar? Yes
- Why is price so volatile? Lack of knowledge/understanding. So its not inherent to bitcoin but just a market thing.
- Will the US dollar be dominate forever even if bitcoin didn't exist? No chance. Its not a question of if, but when.
- Bitcoin is already the best store of value over any 5 year time span. This is what people that live under a dollar standard need more than a new dollar.
- We will have digital currency/money. There's a need. It will either be a gov CBDC or a corporate controlled money, or it will be bitcoin. I pick bitcoin.
- I'm in no rush. I'm not looking to get rich quick. I want to store my wealth for my family.
- We are likely gonna need wealth to get through the tough times in the future. If not for me, it may be for my grandchildren. I don't care about Lambos.
- The dollar funds massive war and death. Sound/hard money will limit this. It won't eliminate it but to me this is for the good of mankind. A limiting factor.
- The lawful stuff is silly. If enough people demand it... it will be "lawful". Goes back to understanding what bitcoin is.