The CEO of Blockbuster famously said that Netflix and Redbox were not on the radar in 2008, yet in 2010 Blockbuster filed for bankruptcy. What about how cars were said not to replace horses, yet we can see pictures where in only one year, the entire streets of NYC were changed from one car and horses, to one horse among cars?
And what about this one? How email would NEVER take off, and that faxes were here to stay?
Yeah, I think I can give you many other examples of people being bad at making calls, but you can look on your own life, and at history for that. We, humans / people, are really REALLY bad horrible at predicting how fast an idea / technology will take off, and even worse at predicting the general future.
Shoe shiners... gone!
The people who filled up your gas... gone!
The people who selected the floor for you in the elevator... gone!
The rope makers... gone!
So many jobs gone, and much faster than any of them imagined. We like to live in a world where we think we can hold on to our old ways, and ignore change for as long as possible, but change is ALWAYS here. Time to embrace it baby! We want what we want, and that means change is necessary.
Innovators like Satoshi Nakamoto, and others are what it took to change finance / money, and we're still "early" at least in the eyes of the public. We always need innovators and leaders to keep moving, or else we definitely will stagnate, and fall under what the naysayers say in any industry - "It will never take off" / "That won't happen in our lifetimes."
No, cryptocurrencies are here to stay. What I have heard most is that people say that it would take until at least after our lifetimes for cryptos to even think about replacing fiat... but it's already happening! See Venezuela. Sure, they are using it with a dirty oil backing. And... they are essentially using it like fiat, BUT!!! That's the first admission, and that's all we need for us to see a bright future.
I don't know how long it will take, or if another technology develops to overshadow cryptos, like quantum computing, but one thing I do know is this... I HIGHLY doubt it will take until the lifetimes of people after us (people under 20) for fiat to be pushed out of the way, and for cryptos to be adopted by the masses.
What are your thoughts on this? I'd love to hear them in the comment section below!
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