I’ve heard a lot of people say that Bitcoin will replace the existing monetary system, but this will take a long time (decades) to happen. I disagree.
When it becomes clear that something works better people catch on pretty quickly, especially in the internet era where information can reach everyone in a matter of seconds.
The existing monetary system is not strong. It is backed by nothing but trust, which has been lost.
Once Bitcoin appreciates against fiat currencies to a certain level I expect adoption to happen suddenly. It will become clear what is happening.
Bitcoin is the monetary system and a trust-less base layer with utility that we are yet to discover.
#bitcoin #money #trust
