Thoughts on btc becoming a new global currency by 2030? Not as optimistic as I once was after seeing all of these countries trying to create their own cryptocurrencies instead.

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I like the characterization Antonopoulos gave after Libra was announced: We will see three types of cryptocurrencies that will compete—cryptos controlled by government, cryptos controlled by corporations, and cryptos controlled by the people.

Bitcoin of course would be in the last category. The first two types will be inherently centralized.

Who wins? Hard to say, there are many factors involved. Governments of course have the power of law and regulation, and may ban outright the other types, and clearly they have a lot of money as well. Corporations like Facebook have a lot of money to market, platforms to provide ready use cases, and a lot of social media and marketing prowess and reach to promote their coins. Decentralized cryptos have the inherent technical strengths that purists would say are absolutely necessary for a crypto to work. 21 million bitcoins is endlessly touted as pointing to the inevitability of bitcoin’s rise in value over time, and neither governments nor corporations can fully be trusted not to do things like inflate supply or freeze accounts or seize funds.

I don’t see government cryptos as being able to directly compete with bitcoin to the people who want crypto specifically because they don’t want government to have control over their money. However, most of the world currently does give governments that control, though many of them up until now had no other choice.

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Well said

Agree w SM1. Any crypto that is controlled by a government is essentially digital money. Which has been around for a long time. Don’t be fooled! Btc is the king.

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Having a variety of currencies enables each country to control inflation independently, which can actually help restimulate individual economies in times of need. Btc as a global currency would prevent this from happening, and I’m having trouble finding any logical answer for why I’m wrong

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