As the price of Bitcoin surges past $6000 today, reflecting almost a $100 billion marketcap and over a 57% dominance of the entire crypto market, I wonder if Bitcoin can actually replace the U.S. dollar (and other currencies like the Euro, Yuan, etc.) to eventually become a global currency. And when Bitcoin becomes a global currency, will it stay decentralized and continue to be owned by the people?
Have a great weekend and talk to you all soon!
Until next time, keep acing life!
I would say that Bitcoin itself is too slow... but as a store of value, it has already replaced the US$...
😄😇😄
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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!
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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
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Bitcoin should run as fast as Steem and Bitshares. It will never replace the US$ without a far, far higher transaction rate.
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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.
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Will never handle the demand for volume of transactions without an upgrade...
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I'm waiting with bated breath for Segwit 2x and hope the core developers can continue making updates to BTC.
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This post has received a 0.63 % upvote from @drotto thanks to: @banjo.
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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.
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