Crypto Currencies ~ " Duck Tales Spin From The Crypt"

It all boils down to a simple binary question: Will the world adopt crypto as the mainstream way to transact digital currency internationally over the next few decades?

Yes: Bitcoins, altcoins, all of them gain value and become commonly used. The more commonly used ones gain a lot more value.

No: We all lose and currency stays in the analog days




The mainstream media, governments, and especially banks don't like it because THEY don't have control over it.

 

It all boils down to a simple binary question: Will the world adopt crypto as the mainstream way to transact digital currency internationally over the next few decades?

Yes: Bitcoins, altcoins, all of them gain value and become commonly used. The more commonly used ones gain a lot more value.

No: We all lose and currency stays in the analog days




The mainstream media, governments, and especially banks don't like it because THEY don't have control over it.

 

I have seen the Big Short, great movie.

I constantly see big people in the banking industry talk about Bitcoin and so forth... it is all old fashioned people that are multi millionaires already that want to see it fail so that they can continue to make money.

Example being the founder of Vanguard, John Bogle... that is a 4.5 trillion dollar investment firm.... whos main purpose is to make money off of old fashioned investments...

Don't we all!

Went to lunch!

 

Agreed!

 

Also agree as well...

But maybe add ammo to this as well?




Got into some ETH at lunch though during the dip... will have to see how that plays out as well.

 

Respectfully disagree with this statement. If the USD crashes, btc will skyrocket just like PMs will, as they are not backed by the collapsing USD. People will flee to something that is worth something.

The IMF is also trying to establish a crypto in the scenario USD hyperinflates and devalues. I'm hoping that crypto will be backed by gold, as the once great USD was. The IMF is also (before establishing a crypto), going to issue SDR as the alternative to USD, which may become the new world reserve currency.

 

When we boil it down, the Dollar (USD) isn't backed by anything but a printer and as @Extra Hard Taco astutely mentioned- the US military... He's right- that is the REAL (perceived or actual) power behind the USD. Reference: Alfred Thayer Mahan for further investigation.

Futures/Options/Swaps/Derivatives are exactly the kind of thing that BTC was designed to get away from- our current "Legacy" financial system. Notice when announcements are made about how "options" are going to be created for BitCoin- it forks??? That's not coincidental...

Look at it from the other side... What if... What if companies didn't have to hedge their foreign currency exposures?!? That's part of the idea here.

I agree, it will absolutely take time for widespread adoption. Us "early adopters" understand that. Still though, we can't pay our taxes with stocks, commodities, options, swaps, derivatives, etc. Hell, we can't even pay our taxes in gold or silver! We trade commodities everyday, but you can't buy a Starbucks cup of coffee with wood; but you CAN buy a Starbucks cup of coffee in BitCoin though...

 

I agree. BTC (especially alt coins) will become even more valuable, and immediately after you'll find commodities (especially oil) being bought/sold using BTC as the base value- not the USD.

**Edit- that's IF the USD crashes.

 

can also buy PMs with btc.

 

^^^^^This!!!!!

 

So you're saying at that point we'll be walking around with little bags of gold, silver, copper, jewels, diamonds, etc on belts like the Romans did?!?

 

And you can buy from Overstock.com with it too. It's just an example, but it is being accepted more and more everyday.

 

Not exactly. There will still uses for USD, even if it devalues. We will still need to pay taxes and such in USD. I look at PM's and crypto as a hedge/insurance against inflation, and as a preservation of wealth.

I also think, just like crypto is being accepted as payment, there may come a time with PM can be more accepted as payment or barter.

I also believe there is a chance USD at some point will not be the world reserve currency. The last crash we had (2008 sub prime crash), the Gov't bailed out the banks. Next time the Gov't won't be able to bail out the banks. Also a possibility that the Gov't crashes, the IMF will have to step in to save the Gov't and banks. They may issue SDR's as a new world reserve currency. There may be great opportunity to use PM's and crypto to buy into the 'new' system. I know I probably lost a lot of you with this jiberish.

 

Popular Mechanics is promoting a 2-part course, learn everything you need to know about bitcoin and blockchain. Might be worth it for those who are new to the tech.

http://www.popularmechanics.com/promotions/a13977451/bitcoin-and-blockchain/

 

Haha. Not at all...

I see a little different scenario happening.

I see the mainstream population adopting cryptos, and then forcing the government's hand in it all- through some type of catalyst.

Just like majority of the population has never even HEARD of BTC or alt coins, or anything like that- even more have 0 idea of how our financial system ACTUALLY works. Go to work, get paid, pay taxes on what you earn; get paid more, purchase more. That's what they "know."

 

I personally think that cryptocurrency in general is here to stay, in one form or another. Bitcoin was first but Ethereum, Litecoin, Monero, Ripple all do some things better than it like faster/cheaper transactions, smart contracts etc. It is great to hear all the hype surrounding Bitcoin and cryptos in general. I bought my first one at $100 and held through multiple crashes/corrections and the boring years where the price didn't change at all so it's nice to have people excited again. And this being TacomaWorld after all I have cryptos to thank for my new Tacoma so that's something else to get excited about

 

Just starting out, especially if only buying a little and planning to hold long term the main cryptos (btc, eth, ltc), just go to Coinbase. If you start trading a lot, join GDAX as their fees are lower.

 

Just got in to crypto a few days ago. Purchased both LTC and XRP. While I feel like I'm a few months late to the game I'm hopeful that I'll still see some significant growth. I remember when my best friends wife purchased one bitcoin back in the day for $400...I was giving her a hard time about it back then. Look who's laughing now! It's freaking crazy how BTC has taken off!