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Old 01-04-2018, 08:04 PM   #142
mooseontheloose
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Quote:
Originally Posted by Baron Samedi View Post

I suspect that cryptocurrencies will go the way of subway tokens. They will be valuable, until one day they are not, rather than a slow devaluation like fiat money.
I think that depends entirely on how good some of the emerging tech is and how well it does in replacing existing monetary/financial systems.

For example, there are some promising coin-backed tech that if adopted as intended would basically nullify the need for credit cards. Not so much from the credit side of things, but in terms of quick access to cash that can be accessed/transferred around the world nearly instantly. The technology these companies are developing expect to provide similar speeds and reliability of VISA but at significantly cheaper rates for merchants.

That's just one example. There are plenty of others that actually aren't completely linked with financial/monetary systems at all.

I think it's insane to think that none of this tech (and therefore the coin markets associated with them) will become major players in the future. Obviously it could be years or even decades, and the eventual king coins may not even be on the market yet.

But some form of cryptocurrency is here to stay IMO. What that looks like and how it fits into our current industries/platforms will depend on the success of these companies, technologies, coins, etc. Many coins will eventually die off but some will survive because it's just illogical to assume otherwise.

And they don't need to exist as some 'rebel' version of money to be successful. It's the tech that these companies are developing that could one day be extremely valuable. There's no telling if the coins they've deployed now will retain value once all the tech is available, but that doesn't really matter in today's calculation because there should be a good long period in which many coins (ie. successful ventures or those with a lot of potential) will produce huge returns.

Trading the currencies for profit may not last forever but I think we're a very far cry from them (collectively) being worthless.
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