Could Rolex prices come over all Bitcoin?

[Robf52]

Originally Posted by SDGT3

First, your wrong. It was created so that underworld deals could be done, ie avoid govt detection.

Second, if there's a finite number of bitcoins it's the same as being on the Gold Standard, that's no long viable for an expanding economy.

Finally, China as well as other countries have either outlawed it or have heavy restrictions. What makes you think that any govt that has a strong reserve currency will want a digital competitor to their own?

The world's reserve currency is USD, and it's anything but strong. Over the past 15 years alone, the USD has lost almost 30% purchasing power. The current movement among countries (China, Russia, India, Brazil, etc) to de-dollarize only puts more pressure on the dollar. Will the US ever pay down $34T in accumulated debt? The only way out is inflation.

Digital currencies may gain currency in places like China, but, due to privacy concerns in places like the US, a USDC is hard to see happening.