Finally, you and I don’t disagree: There are a lot of whack jobs in those forums. That is why after about ten minutes, you should stop reading them. There is “nothing new under the sun” with bitcoin. If you understand the concepts, and the technology, it makes some sense.
Will it “replace” the dollar? Not any more than it will replace the yuan, yen, or euro. For the average person the exposure to bitcoin will be minimal.
Will it become a vehicle to transfer value without involving banks? Yes. That is already happening. It is faster, cheaper, and it cannot be stopped by sanctions.
I usually don’t engage on these threads because there are a ton of misconceptions about Bitcoin specifically and digital currencies in general.
And, I do tend to roll my eyes at much of what Armstrong says. But, people can believe what they want.
Good advice. As we are still free to “ invest” in whatever we choose is what has kept Trade and Commerce thriving for 4,000 years….paper currencies, Gold, equities, commodities, tulips, electrons, etc….all sectors end up “ correcting” each other over time.
And that’s why I believe it will replace the dollar and other currencies. The ability to mask, hide and avoid govt involvement will drive this.
It’s possible those legacy currencies may still be used, such as th EU does, but the official currency will become digital.