Still trying to figure out exactly how safe the crypto's are for wealth storage and two questions keep coming up:
If the fiat currency paradigm collapses globally because of a global bond bubble blow-out - which I'm personally sure will happen at some point, how will Bitcoin, Ethereum and Litecoin get their own value set, when there are no viable fiat currencies around up against which a perceived value of them can be determined? If the US dollar goes, all other currencies will go too as the dollar is the stem of the global currency tree and all the branches define their value up against that stem, so if the global fiat currency tree itself comes down, I see a systemic risk for huge losses for holders of digital fiat whose value is measured up in the perceived value of paper fiat.
And when a new global reserve currency comes up, how will revaluing of the crypto's be done? I see big risk of enormous losses there too.