I believe that fiat is dying and the next financial crash will start the process of its eradication.
By 2025 cryptocurrency will be used by most people. I think that cryptocurrencies do solve a lot of problems due to the nature of being code based. Many are designed to be spread as concentration on a blockchain system can weaken it.
Even with just the basics, by being blockchain we avoid things like the Libor scandal.
We can create stronger economies and escape a lot of the corruption. We will be able to utilise cryptocurrencies in much more efficient ways than fiat.
The market cap of cryptocurrencies is going to be in the trillions and higher.
RE: Why Do the Poor Make such Poor Decisions?
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Why Do the Poor Make such Poor Decisions?
I agree with you the future will include crypto and crypto may become the dominant currencies int he market. But I disagree with you this will happen in just 8 years time. Todays issues with Crypto are MAJOR, and they are not really addressed! Volatility, traders coins, no ATMs, no POS (this even after Bitcoin in the market for 9 to 10 years!). Trillions sounds a lot, but the market cap of fiat is sooooo much bigger! On a world scale, trillions is nothing and we are far away from having trillions in crypto at the moment. Of course, it'll grow, but do you think Crypto is the everyday persons prime currency when things like 20-100% value growth of all cryptos are happening as we speak on the exchanges? And tomorrow they may all collabs? You get Venezuela kind of situation with deflations and inflations, this is by far from the stability required for the everyday currency to base your own income and expenses on.
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I believe the devaluation of fiat combined with an incertain economy, especially during the next financial crash will bring a lot of people into cryptocurrencies who want to keep their wealth safe. Cryptocurrency will be increasing in value exponentially in the next few years. I think by 2019 the price increase will level off, and it will still increase, but at a slower rate until 2015 when it is globally mainstream.
Ripple (XRP) is already out in Japan and is going to be used across the country by 2018, as well as many other places adopting ripple. And that's just ripple.
We are living in the time of blockchain emergence, and it is growing fast.
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I agree it is growing fast, but do you really think the generations from 35/40+ will be using crypto? The generation of 70+ is screaming for instance that the banks are closing their shops and they have to go internet banking! Africa population doesn't like electronic money, as well as Asia societies! They simple like cash! The mobile telco's in those areas tried already for more than a decade to introduce digital payment methods by using simple SMS/text messaging, but getting no traction than from just a few. Crypto requires culture change, requires simplicity of handling the currency, requires many ATMs and POS, but they are not available. After 10 years of BTC we have a couple of ATMs for BTC in NL, and it cost more than 10% to use it. Reality is that such changes in culture and availability of end-2-end hardware and software + the believe by the mass + the simplicity of the service, requires many many years for materialisation.
And even if we have the majority of the wealth in crypto, it does not change a lot to the wealth distribution , hence this is and will not be the answer to a more equal distribution of wealth, ie richer will become richer and poorer will become poorer still. Unfortunate, but the that is what wil be the reality IMHO.
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