Categories: Bitcoin News

Bitcoin the Future? BTC so Trumps USD with Limited Supply, No Borders & No Central Control

Bitcoin, the un-backed digital currency according to experts is superior to USD with limited supply, more transparency, security and no central control. Meanwhile USD, the…

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Bitcoin, the un-backed digital currency according to experts is superior to USD with limited supply, more transparency, security and no central control. Meanwhile USD, the global currency is also not backed by either gold or silver.

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Bitcoin to Beat USD?

Fiat currency, USD is the dominant currency all over the world. However, with the rise of digital currencies, the interest has shifted to cryptocurrencies. Now, Bitcoin enthusiasts are expecting the leading cryptocurrency to become the global standard and replace USD in future.

Bitcoin has a number of directions it can turn to such as asset class, internet currency or global standard that depends upon its growth over the years.

However, if we take a look at the USD, experts share a few strong facets to draw the point of Bitcoin triumphing over USD to home. Crypto expert and founder and partner at Morgan Creek Digital, Anthony Pompliano Tweeted:

“In 1971 Richard Nixon suspended the ability to convert US dollars for gold. He publicly said he intended to go back to the gold-standard. We never did.

Why trust people and governments when you can trust math and code?”

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Well, this certainly fired up crypto enthusiasts as one commented, “Cryptocurrencies are still too complicated for the general public, they don’t understand why it’s important and why they should value them.”

However, as put by another Twitter user, “How many understand fiat money, though. I would argue it’s harder to get into the details of fiat than blockchain.”

Another one pointed out, “won’t be too long before the global financial system fries, it’s already over-baked.”

Also, read: Buy Bitcoin, US Dollar Will Become Worthless: Warns Kim Dotcom over Impending Big Crash

The Future Global Standard

ShapeShift CEO, Erik Voorhees, also took to Twitter to share: “Bitcoin: a digital currency with limited and known supply, no borders, and no central group controlling it. US Dollar: a digital currency with unlimited and unknown supply, border restrictions, and controlled by a banking cabal. What’s in your wallet?”

Well, now the point that comes out is the real-world usage as asked by a Twitter user RobMcNealy, “The more useful one. The one I can buy gas and groceries with. The one that is universally accepted around the globe.”

But it all depends on the future development as Voorhees answers, “No doubt USD is more useful today. The trick of life is to see where things will be in the future, and be ready for them.”

The financial crisis of 2008 led to the creation of Bitcoin which according to its white paper says, “A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.”

By offering transparency, security, elimination of middlemen and limited supply, Bitcoin offers a better option than the fiat currencies like USD. Though there are still obstacles in the form of speed and volatility, over the time, as Bitcoin develops and improves, the future might have a digital currency becoming the standard.

To keep track of DeFi updates in real time, check out our DeFi news feed Here.

Sagar Saxena

Passionate about Blockchain and has been researching and writing about the Blockchain technology for over a year now. Also holds expertise in digital marketing. follow me on twitter at @sagar2803 or reach out to him at sagar[at]coingape.com

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