Yes, the U.S. dollar hegemony is still hunting around the world. This is not an academic judgment, but more or less, this is the truth.
How can the bitcoin beat U.S. dollar and restructure a new world financial order?
Thanks!
The big governments (USA, China, etc.) will never let cryptos devalue their currency to such a degree.
But that doesn't matter because cryptos have tons of other applications (other than pure currency) that can work in conjunction with the "physical economy" instead of working against it.
The biggest example right now is Ripple.
If Ripple replaces SWIFT, that will be worth trillions of dollars.
The major question is what governments can do against Bitcoin. You will find plenty of videos from Andreas Antonopoulos on that subject. He is definitely the main authority in this field.
Liu Yushu , I know that China has a contradictory policy. Officially it is against Bitcoin mining, but there are still many mining farms around. I wonder if all of them will be really shut down. My remark was rather about what they CAN do about it (in the long run). There are quite a few websites that are blocked (e.g., Facebook, Youtube), but people find ways of bypassing the regulations, for example, by using a VPN. So even if there is regulation, people might develop strategies to use technologies they like. This is indeed an interesting research topic.
Liu Yushu I agree. I do not claim that I know how this will finally end, but if governments restrict the use of network-based technologies, people will strive to find a workaround.
Bitcoin (not asset backed cryptocurrencies) is nothing more and nothing less than unlicensed gambling. Instead, central bank cryptocurrencies -- digital regular money issued by government -- will lead change.
Details are in my book: Bitcoin: The Mother of all Scams. https://www.amazon.com/gp/product/B095NMLM2F
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