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RE: Bitcoin Doesn't Need An ETF!
There are drawbacks to being your own bank, such as having to protect/store your assets. However, custodians are popping up all over to help remedy that issue.
There are drawbacks to being your own bank, such as having to protect/store your assets. However, custodians are popping up all over to help remedy that issue.
Well yea, its alot deeper than just being your bank, just saying Bitcoin was meant for the people to take over, not governments, banks and institutional investors etc...
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I don't think it will, at least not in the way you seem to be implying. It will be allowed to coexist with the current financial system as long as it doesn't try to compete with government issued currencies and threaten their existence, if it does, it will be outlawed/banned. Bitcoin is simply digital gold, anyone thinking otherwise is likely dreaming. Perhaps in time, like a lot of time, it can become more, but it will be a long tough battle against governments that have armies and the ability to enslave.
Other than that it would take something like what is going on in Venezuela or Argentina before it would have a chance of replacing government money, but even then, the tech isn't there to do so currently and won't be there for a long time. Most likely people start using stable coins/digital dollars for payments and transactions while bitcoin works as a store value, in the near term anyways. I just don't see bitcoin overthrowing the status quo anytime soon.