> In a de-dollarizing world btc is a genuine factor.
In practice, dedollarisarion has been about shifting to other major national currencies, like the yuan. Bitcoin doesn’t really feature.
In practice, dedollarisarion has been about shifting to other major national currencies, like the yuan. Bitcoin doesn’t really feature.
If btc replaces 1% of fx it's doing $50B/day of transactions. Market cap of btc is only about $600M, so 100x btc is not crazy.
Is a p2p transaction system with an auditable record attractive to 1% of fx transaction parties? Seems reasonable, especially when corrupt states are a counterparty.
how does the integrity of your counterparty to a transaction affect the currency or medium of exchange you agree to?
> a) accept their local currency? where? what then? what will it be worth by the time we exchange it? > b) take btc. transaction registers publicly on the blockchain. smart contracts can execute if desired, e.g. when payment x is received to address y initiate a sequence that starts delivery. currency risk is now in btc and that can be instantly mitigated by converting to your chosen currency, as the btc market is liquid. > c) require counterparty to pay in your currency, which means they pay exchange fees, increasing their costs.
Isn't it $600000M ?