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RE: Future of cryptocurrencies | Can they replace fiats?👉
I appreciate the thought out process. I disagee in the fact you are evaluating a world with seperation of currencies. If all countries used btc as their national currency then they could control taxes and monitor spending. The electricity could be so expensive that countries become the miners. This nwo one currency scares me but eventually may occur after devestation to countries. Not thinking this is near term but my most feared scenario.
I know i cliff noted this thought concept. Its an interesting concept to think about.
Thank you for this valuable comment. A consensus for applying only a single currency (whether fiat or virtual) can never be achieved because every country has their own financial structure and interests. Cryptos have many downsides. They can be a big medium of exchange in near future but for this a radical reforms needed to change the present economical model. How will this be done?will be a matter of debate.