Bitcoin will replace the traditional currency?

in bitcoin •  7 years ago 

First of all, the traditional currencies are issued by governments, whether it is the present or the current currency of electronic currency. All are issued by central banks in a unified manner. The government discovers that the currency is based on the country's GDP. A country with a GDP of 100 billion yuan this year will issue 100 billion yuan of currency. If the fiscal deficit is too large, you can issue more points of currency, such as the original 100 billion, now 120 billion. This extra 20 billion. To the community is not much harm, just let the price rise. These extra money, in fact, people often say that the printing tax.
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If decentralized virtual currencies such as bitcoin replace the currencies of government central banks in various countries, the government will not be able to issue the currency, that is, the government will not be able to collect the currency tax, and the value added tax on commodities alone will not satisfy the government Of the various expenses.

So I think governments, including the United States, can not allow bitcoin to replace its own currency

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