Look at what Coinbase CEO recently say.
"I do think some digital currency will end up being the reserve currency of the world. I see a path where that's going to happen.”
Comment made by Coinbase CEO Brian Armstrong at the Token Summit, May 25, 2017, at the NYU Stern School of Business in New York City.
Brian seem to think that there is the possibility that bitcoin or other alt-coin could become a reserve currency. The implication of this is the possibility that bitcoin may no longer be within reach of everyday Joe. Bitcoin would become so valuable that the only people using bitcoin are governments. Read the story at cointelegraph.com.
Now read what I said in my comment here posted on the 25 May 2017. Since I am in Asia and 12 hours ahead of New York City could my comment be prophetic!
What do you think of bitcoin or other alt-coin becoming the reserve currency and also let me know your view on the post I made “What happens when the bitcoin mines are empty?”.
meep
@marcusxman I agree that something will have to replace the failing dollar at some point, but we are still a while from this happening.
I think that it is closer than we all think. I maybe wrong. Global trade settlement is already moving away from the dollar. The Russian and the Chinese are already transacting in the Yuan. The Chinese are almost ready to buy oil from Saudi Arabia in the Yuan. Is it all falling into place in slow motion but rapidly pick up steam.
Once Saudi Arabia starts to sell oil for currencies other than dollar then I think the decline in the US dollar as the reserve will quicken.
I think the Trump administration understand this. As the use of the dollar declines all over the world the value of the dollar will fall faster. Things will be more expensive for the US when they import. hence the Trump administration's stride for more energy production at home. More oil drilling and back to the use of coal which it can find in its own backyard.
Following thank's for linking your posts. Alt coins could become a currency and that scares me a bit, I think having governments in regulating the crap out of everything is a bunch of bullshit, people need to learn to live by themselves and not cry mommy every time they fuck up. People are children and they need to grow up not have mommy and big brother in the playground sending people to the corner, outside and spreading "justice" I'm not a fan of technology because its spread too deep and too fast, it's great and all, but like anything you can't have no drawbacks, it takes resources and time to produce and all the craze just takes attention away from other important aspects.