{"id":261689,"date":"2021-05-28T20:00:00","date_gmt":"2021-05-28T17:00:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-likely-wont-entirely-replace-current-financial-system-coin-center-director-says\/"},"modified":"2021-05-28T20:00:00","modified_gmt":"2021-05-28T17:00:00","slug":"bitcoin-likely-wont-entirely-replace-current-financial-system-coin-center-director-says","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-likely-wont-entirely-replace-current-financial-system-coin-center-director-says\/","title":{"rendered":"# Bitcoin likely won\u2019t entirely replace current financial system, Coin Center director says"},"content":{"rendered":"

“# Bitcoin likely won\u2019t entirely replace current financial system, Coin Center director says <\/strong>”
\n<\/p>\n

Bitcoin may not mean an end to traditional currency and banking, according to Peter Van Valkenburgh, research director at Coin Center.\u00a0<\/p>\n

\u201cI think there\u2019s folks in the Bitcoin community who probably make too many noises about how Bitcoin is going to dominate all economic systems and nobody will be using dollars anymore, and nobody will be using banks anymore, and I think that\u2019s actually a little foolhardy,\u201d Van Valkenburgh said<\/a> in a Friday interview with the Washington Journal on C-Span.<\/p>\n

\u201cThe fact of the matter is that there\u2019s going to be times when a Bitcoin transaction is what you want. Definitely if you are in an oppressive state like Nigeria or Belarus you might find it more useful to use Bitcoin. In the U.S., we have a pretty stable banking system. We have the rule of law, we have a pretty well-functioning government.\u201d<\/p><\/blockquote>\n

The way in which Bitcoin is used can depend on users\u2019 geographic location. In some countries, Bitcoin (BTC) is seen as more of a speculative asset, used for trading and investing.<\/p>\n

In other regions, Bitcoin can serve as a vehicle of greater freedom, providing users more flexibility and faster payments, as well as an avenue out of inflationary troubles when compared to traditional finance and currency.<\/p>\n

\u201cGeneral<\/a>ly speaking, here in the U.S., you\u2019ll probably still use credit cards and Venmo and things like that, but maybe you\u2019ll want to buy some Bitcoin because it can be a way to balance your investment portfolio against the threat of inflation,\u201d Van Valkenburgh said, subsequently referring to similarity to gold in terms of limited supply.<\/p>\n

\u201cSo maybe, you know, as part of a balanced portfolio that includes other safer investments, you might have a little bit of Bitcoin to hedge against inflation,\u201d he noted.<\/p>\n