Do you genuinely believe Bitcoin, Hive or any other cryptocurrency for that matter will ever genuinely take over as the dominant economic model for the world?
OK for the sake of making the question a little narrower for the sake of feasibility...
I will redefine those parameters a little.
Forget the world. What about a continent, your country even. Do you believe that any crypo based economic system can ever become the dominant system there even?
Do you ever wonder if we are just playing with this speculative, volatile store of value, hoping against hope that it will come to something?
I'm sure we are all familiar with the bottlenecks in the system the cons that right now, in my opinion, outweigh the pros. Those of us who have had our fiery baptism in the world of future tech/currency can likely list them by rote.
- The vast majority of people could simply not conceive of the complex passkey decentralized system. You can just imagine the amount of people looking for the phone number or E-mail for customer service wanting to reset their password as they've lost their key.
- The whole debacle when you are new to crypto (not only then either!) and want to change your holdings back to Fiat in case of an emergency.
- The sheer number of steps when your crypto is not a mainstream one, this is mind-boggling to most. Imagine your Grandparents doing this?
- Regional legislative uncertainty... It's legal, now it's illegal, it's legal again but with caveats, oops no it's illegal again today, wait, now we're not so sure...
- The volatility, imagine being paid your salary in a token that is down 86.7%, it would clearly need to be pegged for this to be the norm, would it then, really be crypto in the way that we know it???
- Would the crypto system be more a way of holding value in the way that Wall Street currently lists stocks, shares, bonds, futures etcetera. This feels more likely but then how would we ever make the transition to crypto replacing daily Fiat currency?
- Government intervention, legislation, adoption or undermining, all of these things represent a huge threat to crypto and have the very real potential to drastically redefine the space entirely.
Even as I type, more and more and more questions are springing up in my mind, though I suspect I have listed enough to keep us going for the time-being. The variables are absolutely exponential and akin, in my mind at-least to the theory of an infinite number of alternate universes.
I listen and read the thoughts and predictions of many of the same analysts that you likely do too and I am certain none of them have all the answers or even anything close to the correct timeline or sequence of events that will transpire in the event that we make this quantum shift in the way value is stored and transferred.
Cryptocurrency as I have said, so, so many times is still in it's absolute infancy, the ramifications, utility and application is largely not even contemplated yet I don't think. I believe wholeheartedly that is has the very real potential to materially and radically change the world we live in. I believe it has the potential to redistribute wealth to areas of the planet that have traditionally never even had a seat at the table as far as the general population is concerned.
I am talking about the most economically deprived, impoverished regions on the planet. I am talking about actually eradicating poverty and want forever in a way no government has ever had the means nor the genuine will to.
As many of you will be all to aware, there are a staggering number of key indicators and red flags that suggest that our current economic system and our societal model in general has reached the end of its life and its usefulness, just as every economic system and indeed, civilization that preceded it has. The system is almost unable to stand under it's own weight and has been hugely propped up for many, many years by hierarchical entities that know the truth and it is a quandary of such magnitude, they dare not even address it or admit it exists...
The whole point of this post however is to ask YOUR thoughts. I am well aware that in our midst in this awesome community we have some of the keenest minds I have ever encountered or even conceived of when it comes to knowledge on this oh-so-important topic that is of enormous interest to all who interact here.
Thank YOU for taking the time to read my post and if you're one of those amazing people who like to hit the comments section... Then I doubly thank YOU!
Either way I want you to know that you are appreciated!
