And if you read my last story, you will get the point. Africa, and those countries who have no monetary policy are printing (actually minting) their currencies and trading it for Cryptocurrencies… that, of course, makes this global gravitation to fiat a very interesting episode in human history.
Nobody wants to accept bad currencies but the fact is that those weak currencies are being used to control some crypto… and that is pushing the price up in some much more valuable but still not fully understood.
Bitcoin is going up forever (with corrections of course, but the trending line is upwards), it is not like stocks, it is the whole earth wealth fitting into the whole crypto ecosystem… just get the idea and it will blow your mind.
Why would you keep using old money if you can get smart money that you can move around fast and you can measure in relationship with the total supply. Banks are still trying to be essential, and governments are giving them that by forcing citizens to pay taxes through bank accounts but should never be allowed, banks operation are not transparent, can not be truly audited, bankers can “cheat” the ledgers while we have cryptography to secure the ledgers now… we have millions of people owning gadgets, smartphones, that let them manage their wealth… there is no actual need for Banks, we need to go bankless as soon as possible.
The next step is people demanding being paid with Bitcoin in their jobs, demanding paying their taxes in Bitcoin, the Lightning Netwrok will allow for small payments, instantly… the longer we allow governments to impose us their friendly bankers, the harder will be the reality check in the next years. Banks will be stuck with all the cash… they will need to convert it at the end…