Associate Professor of the Department of Economics at the University of New York in Stony Brook Noah Smith believes that the first crypto currency has only three possible development scenarios. In his opinion, bitcoin can become a substitute for the US dollar in international settlements or a digital analogue of gold. Otherwise, death awaits him.
Smith is convinced that in the future this crypto currency will be able to displace the US dollar in the future and take its place as an international means of payment. In favor of this version are Jack Dorsey from Twitter and Steve Wozniak, a former top manager of Apple, who believe that bitcoin in the next decade can become the native currency of the Internet.
The second possible outcome for bitcoin is to become a digital analogue of gold and a "quiet haven" for investors in times of crisis in financial markets. In this case, the first crypto currency will not be able to replace the fiat money.
The third option for bitcoin is total collapse. In this version of the future, bitcoin will be consigned to oblivion.
According to Smith, the easiest way for bitcoin is "gold." The expert says that judging by the dynamics of the pair BTC / USD and US dollar inflation, this is the most likely option. However, bitcoin differs from gold in that the crypto currency is able to be divided into small parts, which can be suitable for daily payments.