It is not Bitcoin Rising but Fiat Currencies Falling

post image

According to Stefan Molyneux, a well-known Canadian leader, it is essential to acknowledge free-fall in exchange rates, and especially to recognize the exponential growth rate of BTC.

Molyneux says: “It's not so much that Bitcoin is going through the roof - it's that fiat currencies are in free fall, but only Bitcoin is noticing.”

Our top trading bots

Falling currencies

For many decades, governments had absolute control over the global financial sector and monetary policy through the currency system. Due to this, the US Federal Reserve had the opportunity to inflate the offer of reserve currencies and manipulate the most widely used form of money in the world.

In the interview with Fox Business, significant electronics retailer Overstock CEO Patrick Byrne said that in the next few years fiat currencies will continue to fall as investors and the market are moving to decentralized money and the state.

The lower exchange rates are the only form of decentralized currency. Bitcoin and other cryptocurrencies on the market will eventually overtake reserve currency.

“You think that’s a bubble? What do you think that fiat currency you carry around in your purse is? This dollar stuff, it’s just some fiat currency based on … the surplus taxing authority of the US Treasury of which I assert there is zero ... It’s about time the world switches to real money. Either gold or Bitcoin,” said, Byrne.

Currently, two forms of money or assets are not subject to control and manipulation by governments - Bitcoin and gold. As Indian government demonstrated at the end of 2016, gold can be confiscated and returned to authorities at their request, due to the physical characteristics.

BTC confiscation of users’ funds and assets is not possible when users store them on the platform that does not relate to a deprivation of their rights, and they have full control over private keys and funds.

One of the main advantages of Bitcoin over gold is transportability. Gold is a viable store of value, given that investors can store a vast amount of money in the asset. However, the gold pass is difficult especially abroad.

Bitcoin will continue to evolve as the fall of fiat currencies

Considering that Bitcoin is the only viable alternative to fiat currencies, the decline of government-issued money will continue to bring more investors and ordinary consumers into the BTC market.

Thus, Byrne noted that the price of Bitcoin could reach $1 million in the long run. It will surpass the reserve currencies and challenge the gold market.

Byrne noted that the price of Bitcoin could reach $1 million in the long run. It will surpass the reserve currencies and challenge the gold market.

“We have all these currencies since Bretton Woods, fluctuating against each other, and maybe the dollar hasn’t gone to zero against these currencies, but all of them have gone down 95 percent ... versus something that they can’t control like … gold and Bitcoin. So Bitcoin may be on its way to a million for all we know,” adds Byrne.

Robinhood Crypto and Libertyx Get Licenses From New York State Regulator
According to reports, The New York State Department of Financial Services has issued licenses to crypto-players Robinhood Crypto and Libertyx. Whereas the...
Despite Bear Market Bitcoin Will Survive, Says NYSE Chair
The past two weeks have been a challenge for the entire crypto-market with bitcoin leading the drop. The total crypto market cap dipped from relatively...
Venezuelan Petro Available For Public Sale
After months of delay, Venezuela’s site for purchasing Petro.  #Enterate || El Petro podrá ser adquirido por personas jurídicas y naturales desde su...
Winklevoss May Soon Start Running Their Cold Crypto Storage
‘No luck in dying, there will be luck in love, ‘ the old saying tells. The same, it seems, is happening to early bitcoin investors Cameron and Tyler Winklevoss....
Andreessen Horowitz Launches its First $300 Million Crypto-Fund
Andreessen Horowitz, a prime VC firm known for its dedication to cryptos, is going to rely on these assets again. The company is aggressively piling into...
Steven Seagal-Endorsed ICO Bitcoiin Sees Restraining Order From US Officials
The precarious ICO Bitcoiin, initially supported by the noted American actor Steven Seagal, has received red light form the US legal system. In particular,...
The Market Capitalization Of The Cryptocurrencies Has Again Fallen Below $400 Billion
The new week started for the market of cryptocurrencies on a negative trend - all without exception the assets of the first hundred of the Coinmarketcap...
South Korea Assures No Ban For Cryptos As $600 mln Unlawful Trades Revealed
On Wednesday, January 31, cryptocurrency market keeps sinking in red even though the finance minister of South Korea reassured the authorities do not have...
Scammers earned more than $5 million on the upcoming pre-ICO Telegram
In January, TechCrunch published the Whitepaper of the upcoming ICO TON, during which it plans to raise up to $1.2 billion. Scammers used the agio around...
Nasdaq Is Looking Into Crypto Futures That Are Distinct From Rivals, CEO Confirms
Not long ago, Morgan Stanley decided to follow the lead of Goldman Sachs in clearing bitcoin-based futures. Meanwhile, more than a month ago two large...
Metropolitan Bank Won't Work With Crypto-investors
The company "Metropolitan Bank Holding Corp", which is popular among cryptocurrency companies, stopped performing international transfers related to cryptocurrencies....
Jackson Palmer: The Cryptomarket Is All Wrong
Australian entrepreneur Jackson Palmer is blown away by his cryptocurrency. You can follow him on YouTube . Dog ecoin was created as a joke, but this...
Buterin Announces $1 mln Subsidies for Blockchain Research as Ether Surges to $900
Since the last month of spring 2017, ethereum’s price had been varying from $200 to $400 per unit. However, within the previous months “the little brother”...
Risks of Cashing Out Cryptos Into Fiat
In 2017 bitcoin has grown by around 1,700%, when litecoin managed to surge up by about 7,000% and despite the correction which occurred to the whole crypto...
Controversial SegWit2x Forks As Skepticism Over Bitcoin Clone Stirs Up
The bitcoin controversial hard fork SegWit2x after failing to be implemented in November 2017 at block 501451, has finally been launched on December 28...