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"It's Not Really About Bitcoin Price Surging, It's Fiat Currencies In Free Fall"

• http://www.zerohedge.com, Joseph Young

Molyneux says:

"It's not so much that Bitcoin is going through the roof - it's that fiat currencies are in free fall, but only Bitcoin is noticing."
The decline of fiat currencies

For many decades, governments have had absolute control over the global finance sector and monetary policy through the fiat currency system. Through it, central banks such as the US Federal Reserve have obtained the ability to inflate the supply of reserve currencies and to manipulate the world's most widely utilized form of money.

In an interview with Fox Business, major electronics retailer Overstock CEO Patrick Byrne stated that fiat currencies will continue to fall over the next few years, as investors and the market move onto separate money and state.

As fiat currencies decline, the only form of decentralized currency that is Bitcoin and other cryptocurrencies in the market, will eventually overtake reserve currencies.

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