The 2018 U.S. Congress economic report dedicated an entire chapter to blockchain and cryptocurrency. On page 207, on the topic “Are Digital Currencies Actual Currencies?” it reads: “(...) prompted questions about whether it might replace national currencies and challenge the U.S. dollar.” In the opinion of former Federal Reserve Chair Janet Yellen, Bitcoin is a “highly speculative asset”. And she goes further to assert that “Bitcoin itself has technical and economic limitations that hinder its use as a medium of exchange.”
Probably USO was already enough, where folks thought that it was equities inside. & this one noneless, would have been made out, futures (?) Garbage made out of garbage, that was made out of garbage. What could go wrong. (sometimes it can get up to a 4x garbage chain)
That's cool, because Bitcoin wasn't made to replace the dollar. Tell us something we don't already know
Creating click bait like thread titles +1 Understanding Bitcoin and it's place in the economy -1 It's a hedge against the dollar not a replacement https://www.cnbc.com/2020/10/22/-pa...more-now-rally-still-in-the-first-inning.html
Things get replaced that become obsolete - not because their value diminishes over time. Radio is still around decades later after TV/Cable/Satellite/Internet/Streaming came on board. Yet it was said it would become obsolete, be replaced and vanish completely.