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Can Bitcoin ever replace fiat currency? If we were to believe the optimistic predictions of some crypto enthusiasts, Bitcoin would soon become a global currency. But is this really possible and what would it mean for society and the global economy if it happened?
Fiat currencies are currently backed by governments that can print more money when needed. Bitcoin doesn't have such an anchor and its value fluctuates wildly, making it unreliable as a store of value or means of exchange. That's not to say that there won't come a time when cryptocurrencies will play an important ro (...)
What is the first thing that comes to your mind you hear or read the word cryptocurrency? We are willing to bet that the answer is Bitcoin. While it is true that Bitcoin is the most known and successful cryptocurrency out there, that does not in any way mean that Bitcoin is the only cryptocurrency to exist.
You will be surprised to know that as of April 2021, there are more than 10,000 different types of cryptocurrencies to exist. In types of Cryptocurrencies, we will talk about some names that you need to know.(...)