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I am not a bitcoiner, but...

최종 수정일: 2023년 9월 11일

I am not a bitcoiner and not even able to write a code. But, when I plan to travel, see different currencies of USD, EUR, GBP, JPY, CNY, HKD, CAD.. in my wallets, it becomes clear that foreign exchange cost and process is a burden to block freedom to move around the world. Countries of the world are unprecedently linked to each other. E-commerce, remote work, cyber class, zoom meeting.. are rapidly removing time/space limitation. Even physical world, global shipping and production is accelerating the linkage. What bothers most in this flat world is the fiat money payment system varies upon country by country.


Again, I am not a bitcoin believer. But, I may be able to understand the background/principle that most of bitcoiners are based. Now, I think that we need to acknowledge that current monetary system is not just imperfect, but also far behind the real economy and practices. Even if we can't agree with the forms of cryptocurrencies, it is clear that we need a new form of payment solution for international transactions. Considering massive volume and frequencies of international transactions, costs associated with existing fiat payment system seems to be way too high. Discussion to alternate the system is worth to be encouraged and this is the point that I don't disagree with bitcoiners.


Bitcoin has many well known problems such as mining energy consumption and lower TPS and inefficiency. But, the problems of global monetary system of which base currency is USD can't be disregarded also. I think it's time to do some benefit/cost analysis of Bitcoin vs. Fiat system in terms of means for international transactions/reward/payment which seem to be only growing in the future. Hope leaders and scholars who have same concerns gather to adopt some kind of unified global standard forms of payment, so I can freely move across the nations with it (whether it's bitcoin or not) one day near future.






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