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RE: Are Cryptocurrencies Really a Threat To The US Dollar? By Gregory Mannarino

in #bitcoin8 years ago

Ripple in my opinion is central banking 2.0.....whoever has control over the network has the power. No-one sensible will touch a banker launched crypto unless it is proven to have been built upon the same ethos (of freedom) as many of those that already exist....in which case, good on them (very unlikely.)

A new reserve could certainly arise, and quickly....the debt in the FIAT system collapses and for a time there will be no single reserve (quite disruptive for global trade I should imagine.) Then people will begin to settle upon what they trust as a reserve....it is unlikely to be whatever is offered by the bankers. Crypto could very easily become a reserve....though I don't think it will be Bitcoin. Necessity will speed things along though I would add the game has changed.....the world may settle on a multi-reserve world. If all the reserves are equally marvelous, then why not?