Today is the third day of the New Economy Forum and the speakers for today include Hillary Clinton and Tony Blair.
For her part, Clinton made mention of cryptocurrency. She urged that nation states should start paying attention to its rise. I don't know how much the former US presidential candidate and secretary of state knows about cryptocurrency but she is definitely briefed about it.
For better or for worse, she interprets crypto-- perhaps she actually meant Bitcoin more than
crypto-- as having the potential for undermining not just other less powerful fiat currencies but also the USD itself as the reserve currency.
This to me is a sign that the old order has now been seriously shaken to the core. And rather than opposing that which seriously disrupts the old system, something which they cannot stop, it might actually serve them better if they just embrace and exploit it.
If the USD is now being threatened and the threat is more or less unstoppable primarily because of its decentralized system, it might be prudent to just welcome the threat and make use of it.
What do you think? Will the USD face its eventual demise as a reserve currency due to its own weaknesses and the threat of other growing competitor currencies? Or could it be revived and even made stronger by the adoption of Bitcoin as a potential reserve currency in the future?
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https://www.youtube.com/watch?v=OuNhMuEGk0MLots of people seem delusioned to think that Bitcoin is capable of replacing the US dollar. There is potential for a cryptocurrency to do so, don't get be wrong, but it is never going to be Bitcoin. Bitcoin is too limited by the cap of 21 million total available to be mined - a chunk of which have already been lost due to all sorts of mistakes and accidents. That leaves a tiny amount to process the billions worth of transactions which take place each day. The blockchain is quite powerful and can serve excellent ledger purposes, but the current form that Bitcoin uses is very comparatively wasteful energy-wise so it would be bad for the planet if it was even attempted. You say for better or worse - there is such a thing as "no publicity is bad publicity" but let's be clear Hillary and Blair do not endorse anything near the scale you mention.
