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RE: The Cryptocurrency Revolution is Simply a Revolutionary Way to Acquire the Old Currency
I think you're missing the forest for the trees. Fiat currencies ALWAYS fail. They are 1 part social engineering, 1 part highway robbery. Engineered failure.
In the past, fiat failures meant poverty and war. Then, when the people were down on their knees, the bankers gift: more fiat.
Cryptos today are Damocles Sword, hanging over the banker's heads. Each fiat debacle, each bail in or bail out, now puts the Central Banks in peril, NOT the people. Because there is an alternative --an emerging one -- in place.
I predict more cryptos will fail, than fiats have failed. Cryptos are operating in an environment of very fast evolution. We certainly dont need 1400 different kinds of coins.
BTC will also eventually fail. Maybe in 2018.
But I get your point, don't trust fiats (either) !!
Agreed. Most cryptos will fail. But there won't be world wars or a great depression because of it.
On the positive side, there will be winners. Projects that think outside the box, like, maybe, Siacoin or Decentraland or DENT. Also projects targeted at the unbanked.
Think about Humaniq bringing biometric ID and banking to the billions. The wrong people are drooling over this idea for the wrong reasons -- then again, what the controllers have pushed for in the past has become our current system. So there will be winners.
i see cryptos as an intermediate system in this world transition phase
Debt-based currencies will always cycle between boom and bust. They have to. It's built in to their nature.