RE: Why Bitcoin Will Not Work As The Sole Currency
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The bitcoin infrastructure is huge, the massive adoption is a reality, everything has started in the third world countries.
In Venezuela 6 years ago we were literally starving and now we have a country where bitcoin miners are regulated and authorized by the state, that was a lot of help for people because our fiat money was destroyed by hiperinflation.
The argument that 21 million bitcoins are few is not valid. Each bitcoin is divisible by 100 million of satoshis and that is increased in the lithgning network and the microtransfers.
I do not support the government of Venezuela but bitcoin is a reality in my country.
I'm not a bitcoin maximalist, I love other cryptocurrencies.
Please check this video. https://m.youtube.com/watch?v=WDvTuYFA2So
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It most certainly is.
What if the free market required 25 million bitcoin that are divisible by 100 million of satoshis? If it is the sole currency, then you have economic contraction due to a lack of available money.
A situation by the way, we are presently facing with the USD.
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