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RE: Will Bitcoin Replace FIAT Currency?
I think cryptocurrency is still in sort of a test run because people are holding it as a store of value. Just think who would profit if all cryptocurrencies go to zero? I agree it is decentralized and away from banks and governments. But we are still waiting for their real response. In a scenario where crypto is going to stay, by 2030. crypto has a high potential to go to at least 25%.
It is interesting that everything we place value upon is founded in confidence primarily. I have a friend who encourages everyone to put their money into precious and semi-precious metals. Where I struggle with his argument is that this advice is offered as a means to retain your wealth in the case that governments undervalue (or steal from the people, as they did in Cyprus with the banks) fiat currency. But what do you do when the level of confidence shifts away from those commodities? Let's say that happens as a result of food or water shortages. All the gold in the world will not have the same appeal to a family that needs to eat in order to survive. We're a fickle species, anrn't we? LOL
Yes, your crypto can go to the moon, you can buy lambo. But it will be like a toy for a child, which is interesting only for a couple of days. One day, at some point people will exchange goods again like before any form of currency.