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Worldwide adoption of Bitcoin leads to closure of FOREX Markets!!

As people and businesses worldwide adopt Bitcoin as their chosen “medium of exchange” a whole industry centred around Foreign Exchange will gradually (and maybe later quickly) die.

The IMF, BIS, Central Banks, Foreign Exchange traders, futures in FOREX down to the corners shops in Airports and cities worldwide will either close or have no function in this area.

Imagine a world where you can travel without worrying about foreign currency controls and capital restraints implying by having access to your Bitcoin wallet/s.

Imagine a world where you can make simply pricing decisions. If you live in an area where a dozen eggs cost 5,000 sats and you go to live in another country for a while and they are 10,000 sats due to supply issues. You can make the simple decision don’t buy or buy less.

Imagine a world where a common (Bitcoin) currency is used and the respective competitive advantages of each country or geographic area can easily be determined, oil is cheaper in the Middle East, iron is cheaper in Australia, technology is cheaper from India - even after allowing for shipping.

Imagine a world where accounting and financial systems all work on a common money system. The cost of development and overall cost to the consumer would be lower. The challenge of accounting for multiple currencies, even standard setting would be far easier and economical.

I may not see the day but I hope many younger than me will enjoy the day when Bitcoin is the only money the world uses.

#bitcoin #money #trade #forex #economy

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59ae62c5... 7mo ago

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