Is Cryptocurrency a Viable Alternative to Fiat Currency? | Yaron Answers

Yaron Brook tackles questions on contemporary controversies and current events in this Q&A series.

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[paulmckeever]

That's a solid take on the issue.

[dodge]

The mistake you made was right at the beginning, with the assumption that BTC (or cryptocurrencies in general) need to REPLACE the dollar or other fiat to succeed. That's simply not the case. Keep going with your research and thinking though, it is an interesting set of technologies and topic for freedom-minded individuals.

[abanger]

Stablecoins on smart contract platforms is the likely future in our lifetimes

[Avidcomp]

So long as governments collect taxes, then they will want.. demand that they have control over what those taxes are paid with. In fact, the governments hardly even need to collect taxes, most of their expenditure is created through debt instruments, bonds. For the government a good reason to continue with taxes is that it serves as a vehicle to demand that you hand over the only tokens they permit.

[doomhigher]

Keep studying. The government will absolutely accept it in a CBDC.
BTC and ETH are accepted already. ETFs. Stablecoins are much better than fiat we use in multiple areas.

[freedomwriter]

Gold and silver and platinum are money.

[Fjdjdjjdjsjss]

I believe Bitcoin will win. It’s genuinely hard to wrap your head around but no matter how much the government tries to they can’t change or “shut down” Bitcoin.

[freedomwriter]

It won't work if it keeps wildly fluctuating or failing like every other crypto currency?