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If you can spend cryptocurrency (you can now spend it through debit cards and it's more becoming more widely accepted at online retailers) and you know it's def
by jesusthatsgreat 9y ago
If you can spend cryptocurrency (you can now spend it through debit cards and it's more becoming more widely accepted at online retailers) and you know it's deflationary, why would you ever want to cash out in to fiat?
Even if 5% of all Bitcoin are dumped on to an exchange / multiple exchanges, it would cause short term panic but you'd still end up with sellers buying back in at lower prices because of the fixed supply. And let's face it, if you're smart enough to create blockchain technology / Bitcoin, you're probably smart enough not to sell your entire portfolio in one swoop on an open market without communicating with anyone...
The current bubble will come to an end and we'll enter a bear cycle at some stage - it's a given... but it's pretty unlikely the technology will just go away and fade in to oblivion given the number of people working with it and potential (or in some cases realised) use cases.
Is about as disruptive a technology as there has been since the internet itself - so if you're waiting for it to fall apart I think you'll be waiting longer than you realise...