Well, it is completely wrong of you to have just focused only on the cons of our society adopting bitcoin and crypto in general to become the only legal tender, look at the benefits as well, you did realize that the benefit is much greater than you have ever imagined.

And besides, all the issues you made mention of, are ones without a solution, if the government is going to make bitcoin and crypto in general the only and acceptable legal tender, be rest assured that millions will be spent to teach people how to use crypto, and who needs a bank when they can be the custodian of their funds, but then, we know how lazy most people are in our societies today, so even if there is goin to be a crypto bank, the staffs will be well trained on how to managed customers funds effectively and efficiently.

So, I do not see any issue here that is without solution, if there is anything we pray for, is that bitcoin and crypto payments gets integrated into our payment system, crypto payment can co-exist with fiat payment for sure.

I think you are looking at the negative side too much, I think a group of people who don't know about crypto will definitely learn it because they have a need to live or support their families and they could potentially become experts in crypto, as long as they work hard and continue to broaden their knowledge, because All humans are the same as long as they are willing to learn and try. However, it is possible that negative sides will emerge, but personally I think I am optimistic that if that happens, everyone will definitely adapt.

and in my opinion, if crypto dominates the world, of course the governments of each country will also provide learning and insight about crypto for people who don't know much about crypto. So in my opinion, don't be confused about this, so you just need to think positively.

I agree with this. Government and Bitcoin’s decentralization already coexists, or isn’t it what is going on today? But if government was to adopt Bitcoin, the issue is that they will need control over it. In as much as it doesn’t sound well to me, I understand that this is their only way to track fraud, money laundering, etc. However, it depends on how the government chooses to adopt it, it is possible they ruin the purpose while doing. They can also somehow adopt it and we can still see the legacy of Bitcoin. But for a fact, the coexistence of government and Bitcoin is pretty possible.

 ???OP's question is like the bitcoin will become world currency in a blip and everyone who don't know about crypto and is not very educated will lost their job and become unemployed.
But it's not very easy to replace fiat or banks with crypto, if in future the world or government will make bitcoin legal tender than centralized banks and crypto will work simultaneously.
banks will not going to shutdown anytime in the future.

I mostly agree with you oktana, except I am having some difficulties with attempts to suggest exactly how much control that any government needs to have over something like bitcoin in order to attempt to establish various kinds of policing systems, and there are likely a variety of ways that fraud and money laundering can be tracked, but it does not necessarily mean that they have to have control over bitcoin in as much as they likely do not need to have control over people, even though there are ongoing inclinations to create systems in that direction, but the mere fact that systems are created in certain overbearing ways does not mean that it is the ONLY way to attempt to accomplish similar kinds of goals...

so maybe my point is not so much to attempt to get into figuring out exactly what kinds of systems are feasible and possible and functional along side bitcoin, but instead to at least acknowledge that both can exist, and there likely are going to be transitional periods in which earlier systems might look different from later systems... and bitcoin and fiat systems and government systems are ever changing, and even if bitcoin might end up absorbing a lot of the value of the various fiat systems, it could take 50 to 200 years to evolve into systems in which bitcoin might be considered the world reserve (settlement system), and surely there are knowns and there are unknowns, but there are also known unknowns and also unknown unknowns..so it is not like any of us could even have exact answers regarding what the balance between government and bitcoin might end up being...

In my earlier post, I mostly just wanted to point out that it seems quite implausible to come up with some kind of an assertion that bitcoin and government is incompatible.


Yeah, but OP was saying bitcoin was going to become a world currency not crypto.. and so even if OP was not very precise, he seemed to be putting his assertions mostly in the context of bitcoin rather than being overly vague about the matter. even though when we are referring to the future, there is likely going to be quite a bit of vagueness when we do not really know all of the factors.. but does that mean that we should make vague and meaningless assertions regarding some mythical role of crypto without giving it some kind of a bitcoin foundation?..

When you say crypto, what is crypto anyhow?  Does that expression mean much of anything unless you place it into some kind of a bitcoin context?, and if you are talking about bitcoin then why not say bitcoin at some point rather than using vague and imprecise language regarding how some kind of a supposed crypto has any kind of meaning without somehow figuring out how you consider the role of bitcoin to be within whatever it is that you might be saying...

and yeah, there are people with multi-coin views of the world that try to act like they have some kind of superior knowledge because they use vague language and there is an implication that some various coins (yet unknown) are going to be the systems of the future and maybe it is going to involve bitcoin and maybe it is not going involve bitcoin.  So they speak in generalities, but does that get us anywhere in terms of understanding what is being discussed?  

Op did not emphasize crypto, but instead seemed to be talking about bitcoin serving in a kind of dominant role, not some vague and non-specified and meaningless concept, aka crypto.


At least you did use the term bitcoin in this part of your response, and probably if we are hypothesizing about the potential disappearance of banking systems, there is going to need to be some ideas about what might replace them and how it might both be secure and able to serve some of the purposes of our current banks.. including that ongoingly there are going to likely continue to be some people who are going to need more hand-holding in terms of the ways that they manage their money, and surely many of the bitcoiners (and even shitcoiners too) have likely come to realize that several aspects of the banking systems are mechanisms of control, and surely there are several aspects of the masses who don't seem to mind being subjected to control as long as they also have ways to conveniently access their money... We cannot necessarily blame people for frequently not being able study the various tradeoffs of money since maybe they frequently will feel that they don't have enough money anyhow... so they are frequently spending time getting money rather than thinking about the various trade-offs that exist between current banking systems that they might use as compared with having to learn about bitcoin or maybe some shitcoin, if you believe that might be another avenue that people might consider as an option regarding the various ways that they might store value and transact their value for goods and services..or sometimes maybe in the context of something like remissions to send it to themselves and/or to others. maybe in other countries or maybe in the same country..

Ethereum is far behind from the Bitcoin, as we have seen the bitcoin prices through which other coins have also more reactions but I didn't see other coins which ever changed their prices due to the upward movement of the Ethereum and due to its downward movement. But I can say only those token which may be in the chain of Ethereum has already changed their replacement and their prices many times.

Although bitcoin has its own way and its own system, the price of bitcoin is very and very high as compared to the Ethereum as it is difficult for the Ethereum to reach the price of Bitcoin but one thing I must say that we have to see for the market, as in crypto we can expect and anything can happen.

OP, you are wrong, in my opinion. First of all, you must know that what you are even thinking can be very impossible in the sense that Bitcoin was not created to be centralized and regulated by any authority, and there is no way the Bitcoin you are talking about can reign over the whole world without being regulated by the government, and they cannot possibly be regulated because they are not the investors in Bitcoin like they invested Fiat cash. Another thing is that since Bitcoin is not stable (high volatility), they will not want to approve it worldwide.

Bitcoin is the head in the crypto world, and there is no way the government can even legalize any altcoin if not Bitcoin first. There is always regard for Bitcoin.

Secondly, @OP, even if what you said is possible, those who lack knowledge of Bitcoin, blockchain technology, and other cryptocurrency will definitely learn about the technology and its user case. The use of bitcoin or cryptocurrency is not very sophisticated. Even bank workers studied at the university for some years and archived their degrees; that's also how people will learn about whatever they need to know about blockchain technology. If necessary.

Nopes you are thinking from a shallow reasoning. Banks will still exist but they will adapt to the new changes by also selling and buying bitcoin and they will even help those that can't keep their coins themselves to keep it in the bank. So if banks closed down because bitcoin has taken over, who will make it easy for people to have easy access to bitcoin, still the banks. It is always good one should upgrade with the latest technology and be flexible to adapt with changes because we like it or not changes must occur, it is something natural.

What shock, of adopting bitcoin? They will already be informed and probably be have been taught on how to go about it. This is because you must make daily spending and bitcoin is easy to learn on how to make transactions with. You should also know that it will be impossible for bitcoin to replace fiat. So it will become a matter of choice for any individual to chose either bitcoin or fiat for their daily spending. This means that everybody will be living their normal lives.


Bitcoin is more of a blessing than curse, which soon the whole world will realize this but it will be a gradual process.

Such people will be very happy to be their own bank by keeping their bitcoin in their self custodian wallet. Since bank is a centralized system but bitcoin is the opposite. This are the people that needs bitcoin most.

Maybe not our generation or the generation before us but the future generation will surely understand the technology and knowledge behind Bitcoin. Bitcoin is for everyone but not everyone can use it. Ask me why. Because there are still people who do not know how to use a smartphone. How can you expect them to understand a complex thing such as Bitcoin? Imagine an old person just chilling at his farmhouse. Does he really need to understand Bitcoin at this age? Of course not, just let him enjoy his life and when he has lived his whole life, he will be gone.

This is why crypto and traditional currency should coexist. You cannot just come to people and force something to them. People are more comfortable using what they already know. Adding something additional to it will open up possibilities for people whether they want to use it or not. That way you get the best of the both worlds. And maybe day by day in the future More people will show interest in learning new technology like Bitcoin and only then we will see total adoption of it. Until that time comes, they both should coexist in order to make life easier.

Yes, my dear friend, you are right that they consider Bitcoin a curse instead of a blessing. It's not on developing and underdeveloped countries; every person or country will fall into thinking of this catagory i.e., Bitcoin, as a curse who doesn't know what exactly Bitcoin is and how beneficial it is for us. Or the second is that he has come to his ego and he considers Bitcoin as cursed because Bitcoin has eliminated this fait currency or relieved this centralized ecosystem that is earning money for free as a third party.

So it means that these people have no answer as to why they think Bitcoin is cursed; rather, those people or countries are stubborn because of jealousy and envy. The reason for not adopting it is that by adopting it, the fait currency will end and decentralized implementation will occur, in which the powers will be chained from them and given to Bitcoin. The governments of these countries do not want their public assets to be seen as subordinate to them.