Dear readers,

In recent years, there has been much debate about which currency will become the next global reserve currency. Many people believe that the Chinese Yuan or another fiat currency will eventually replace the US dollar as the world's leading currency. Some experts believe that the Chinese yuan may not be the answer. Here you will find three reasons why the Yuan will not become the world's reserve currency; However, there is another much stronger contender that is gaining momentum every second: Bitcoin.

Unlike traditional currencies, Bitcoin is not issued by a central bank or controlled by any government. Instead, it operates based on a protocol on a decentralized network of computers around the world. This means that no one can manipulate the currency supply or control its value, or use.

There are several reasons why Bitcoin could become the new global reserve currency:

1. Decentralization: One of the biggest advantages of Bitcoin is its decentralization. Because it is not controlled by any central authority, it is less vulnerable to political and economic shocks. This means that it is more stable and less prone to sudden fluctuations in value.

2. Limited Supply: Another advantage of Bitcoin is its limited supply. There will only ever be 21 million bitcoins in existence, which means that it cannot be inflated like fiat currencies. This makes it a more stable store of value over the long term.

3. Accessibility: Bitcoin is accessible to anyone with an internet connection. This means that it can be used by people all over the world, regardless of their location or financial status. This makes it a more inclusive currency than fiat currencies, which are often limited by national borders, minimum balances, and financial regulations.

4. Transparency: Bitcoin transactions are recorded on a public ledger called the blockchain. This means that every transaction is transparent and cannot be manipulated. This makes it a more trustworthy and reliable currency than fiat currencies, which can be subject to corruption and manipulation.

5. Divisibility: Each bitcoin can be divided in _{1BTC=100,000,000 (satoshis)} smaller fractions called satoshis after the inventor/discoverer, and that means it can be used as a global medium of exchange.

6. Portability: Bitcoin is portable because the private keys that hold your coins can be stored encrypted on the cloud allowing you to move around the world why any amount accessible from everywhere.

7. Durability: Bitcoin is virtually indestructible, and it’s unperishable unlike other forms of money such as food commodities like grain.

8. Uniformity: All 21 million bitcoins are the same, and this makes it a perfect form of currency unlike gold coins which tend to be all different.

9. Acceptability: Bitcoin is accepted in more places every year which is making the proof of concept more and more evident year after year.

10. Uncensorability: No one can stop you from using your bitcoins, or take them from you without the private keys.

Reasons why the Yuan will not be the next world’s reserve currency

1. Capital Controls: The Chinese government maintains tight control over the yuan's exchange rate, which has led to restrictions on the free flow of capital in and out of the country. This makes it difficult for the yuan to be used as a global currency because it is not fully convertible. While the Chinese government has made efforts to liberalize its financial system, it still maintains tight controls over the yuan.

2. Lack of Transparency: The Chinese financial system is often criticized for its lack of transparency. The government controls many of the country's largest financial institutions, and there are concerns about the accuracy and reliability of China's economic data. This makes it difficult for investors to fully trust the yuan as a global currency.

3. Political Risk: The Chinese government has been known to use its currency as a tool of political influence. For example, it has devalued the yuan in the past to gain a competitive advantage in global trade. This makes it difficult for other countries to fully trust the yuan as a global currency, as it may be subject to political manipulation.

4. The Yuan is censorable, not accepted everywhere, and has an unlimited supply to name a few more.

In conclusion it is clear that Bitcoin is a serious contender to become the new global reserve currency. Its decentralization, limited supply, accessibility, transparency, and other very important features make it the best alternative to any, and all fiat currencies. As the world becomes increasingly digital and decentralized, it is very possible that Bitcoin will become the currency of choice for people all over the world.

A Bitcoin Standard

If you want to know more about how Bitcoin will become the next global reserve currency I highly recommend “The Bitcoin Standard” by Saifedean Ammous. By using this affiliate link below you are helping my family and top spread this idea around the world.

Bitcoin In the News

Thank you for reading and stay tuned for more updates on the future of Bitcoin.

Best regards,

Daniel S.

Bitcoin in Action

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