The question is this can a lot of smart computers set up by very smart people outsmart the fumbling us Central banking system?
That is just the question former US Senator Judd Gregg (R-NH) juggled in an op-ed published this week by The Hill
The mainstream old school barbaric View would say no. The United States banking system holds all the coins in their purse.
However Gregg has a differing opinion.
“If people accept that Bitcoin or any of its descendants have value — and if that acceptance becomes the bedrock faith underpinning the marketplace — then it will herald a new era,” he wrote. “The implications of the legitimization of Bitcoin as a currency are truly staggering.”
According to Gregg, Central Banks, would be in essence "neutered" being that they wouldn't be able to artificially inflate the economy's around the world. Which according to many analysts would be a very good thing.
Alternatively Federal governments would have a very difficult time selling their debt in order to run up the deficit.
Did you know that 80% of the United States debt is student loans? And those same student loans are what we hold as collateral to take out more debt.
The first countries to be affected by the so-called “hyperbitcoinization” would be smaller economic powerhouses around the world countries that have weak economies in a poor history of currency management. While stronger economies like the United States dollar would most likely stay for a while longer as a strong dominant core element of world Commerce. The issue with mass adoption however in my opinion is if the smaller economic countries are the first adopters they will become the future power houses as adoption seeps into the more mainstream currencies. It is the greatest shifting of wealth the Earth has ever seen.