The crypto market of the future
Option One - Survival of the fittest
Mass consolidation of major coins like LTC, Dash, BTC, and a hand full of others which will be used as currency. The big ones will get so big that it will start to become difficult for new players to enter the market. If this option turns out to be true then hold and hold long because prices are going to skyrocket. This is also likely the most beneficial for humanity as we will have stable global currency.
Option Two - Government takeover
Governments have been resistant for the most part to this new monetary system. However recent developments have seen various governments around the world adopting regulation for the industry (which may help us avoid Option Three). This option only sounds appealing if we can move past old crooks stealing everything for themselves and their mates. We need a new political class who understands technology.
Option Three - Chaos and ICO for everything!!
New tech businesses are going crazy with ICOs. There is a lot of money to be had. To an extent this is the state where we are right now. Lots of money being taken and made. Lots of scams and just bad investments exist. In a way it is the Wild West out here. Low regulation and negligible levels of real business models can lead to major losses and suspicion of the entire market.
Option Four - Blockchain for everything
You won't be able to take a dump in the future without proof of work! Ok maybe not quite like that, but blockchain tech will take over back up by big investment money. Models like Steemit will become the new norm with everyone getting a slice of the pie. Maybe this is the only way a future economy can happen?
Option Five - Total Collapse
Perhaps the most unlikely option, but I suppose there is a possibility of a total shut down. Although it would require something pretty dramatic. While future tech may enable breaking of the codes or a fricking sun flare could knock out the internet these both seem unlikely. Crypto is here to stay!
Long live cryptos, long live the blockchain!
What do you think? Have I missed anything?
a possible future is where blockchain will be used for every day to day operations- under the hood- from handling our communication, automobiles, security , loans, identity etc. Surely there will be a lot of blockchains but only a few dozens of them will be widely used and there will be advanced private blockchains networks that won't ever come to the light of public[classified]. I dont think the technology or the idea it represents will go away, it just can't .
Yeah, good points. The solidifying of, let's say, the top ten which will take over the market seems likely with a string of task specific underlings.
It's most definitely a financial and technological revolution that is here to stay! It gives the power back to the people where it belongs and the government goons don't like that. I'm sure they will attempt to take over and regulate the cryptos but as of now it is out of their reach. The fiat (ponzi) system has been abused to the max and now is on the verge of utter collapse. They typically will start a war at this stage, but i see cryptos benefiting regardless of the scenario.
Hard to start a war with the internet, although it wouldn't be the first time a war was waged against an idea. All Bitcoin holders will be financial terrorist? I think the governments won't be able to keep up with the pace of change. They will become recipients and users not masters.
What's driving me nuts is that I have no idea if blockchained technology will tank stock markets by rendering issued equity (a "dumb contract" of antiquated techniques of storing value) worthless as they get replaced by coins that are a superior form of storing and distributing value. I have some assets tied up in stock indeces but am stressing as to what to do with them.
Yeah, that is a serious worry. Hopefully they won't be tied up there for too long. I would like to say that the process will be slow, but history wouldn;t support that claim
Yeah exactly, there's going to be an inflection point in trust between the two systems followed by an immediate financial panic.
AKA good time to buy :)
I got goose bumps while reading "Long live crypto, long live the blockchain" ! Good post man :)
Thanks Carl!
Very interesting article @larksongbird. Upvoted and following. This is good introduction to Crypto-world for a beginner. Thank you.
Thank you!