I have watch analysis on YouTube by different economy think tank how the US dollars is getting weak by the day because of the ever rising USA national debt profile, they huge own the Chinese government trillions of dollars, the government of China has been asking USA government to pay them their debt, but they are not willing to pay. An analyst predicted that the US government is not going to pay China the debt, saying "should the US government offer to pay the trillions of dollars debt, it will spell doom to the US economy and further weaken the dollar or even bring it to its kneel". Because of the aforementioned economic saga, the Chinese government together with some other power blocks are willing to bye pass the US dollars during trade by dealing directly with their local currencies rather than the US dollars. In the recent times, the President of Russia has expressed the willingness to ditch the US dollars.
Should the US dollars greatly loss value and become less use by world economic powers, something else has to move in to replace the green paper(US dollars). Of course, the United States won't like to loss to any country, am thinking maybe the world could just adopt the bitcoin as the world reserve currency, since it's owned by no one and controlled by none.
Guys, what do you think, will the world likely be willing to adopt the bitcoin as the world currency in the event of the US dollars collapse?
No, the change will be too abrupt, what we are going to see next after the dollar falls is either a global currency backed by the strongest currencies around the world or we are going to begin to see countries keeping their reserves not only in dollars but in other currencies as well, at the end the effect will be the same but this system is going to be even more unstable and countries will face a decision and they will probably begin to back their currencies with gold and silver, but at that point it will be too late.
People will begin to see they have been lied and the system was designed to help the people at the top to remain at the top and when that happens the opportunity of bitcoin will finally come.
