Well the conversation here has mainly been about bitcoin but in...

  1. 709 Posts.
    lightbulb Created with Sketch. 199
    Well the conversation here has mainly been about bitcoin but in any case I am not surprised that central banks are making their own digital currency. This doesnt however mean they intend to replace paper money. This is an attempt to stay ahead of the game and I would be surprised if they didnt.

    If you think about it, in many respects gold (which was a widely used currency to trade and later paper money was tied to it) works very similar to digital currency. It is a limited resource and it cannot simply be replicated (i.e you cant create fake gold).

    There was a reason why it was replaced with paper and I believe that reason holds true today. Like I have said, I used to trade crypto several years ago and still own it. I also used to think it will replace money but the more I looked into it, the more I realized it will not.
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.