As the price of Bitcoin surges past $6000 today, reflecting almost a $100 billion marketcap and over a 57% dominance of the entire crypto market, I wonder if Bitcoin can actually replace the U.S. dollar (and other currencies like the Euro, Yuan, etc.) to eventually become a global currency. And when Bitcoin becomes a global currency, will it stay decentralized and continue to be owned by the people?
Have a great weekend and talk to you all soon!
Until next time, keep acing life!
I would say that Bitcoin itself is too slow... but as a store of value, it has already replaced the US$...
😄😇😄
Hey @creatr! Let's see if Segwit2x improves BTC's speed but you're right, there are more places around the world that are already accepting BTC as a form of payment. Now if we can get universal acceptance of BTC from the biggest vendors and merchants, then we'll definitely be closer to seeing a replacement for the USD!
Always great to hear from ya amigo!
haha @creatr you think so? well how fast do you think that bitcoin should run? tell if you are currently thinking that it is slow at it current high raising
Bitcoin should run as fast as Steem and Bitshares. It will never replace the US$ without a far, far higher transaction rate.
Yup thanks to Graphene technology, Steem and Bitshares are the fastest blockchain solutions in the world. Nevertheless BTC is available 24/7 and still much faster than USD bank transfers.
Will never handle the demand for volume of transactions without an upgrade...
I'm waiting with bated breath for Segwit 2x and hope the core developers can continue making updates to BTC.
This post has received a 0.63 % upvote from @drotto thanks to: @banjo.
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by Ace from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews/crimsonclad, and netuoso. The goal is to help Steemit grow by supporting Minnows and creating a social network. Please find us in the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.