4 ms·

I think that cryptocurrency will take over eventually. There might be big booms and busts in the meantime but it will take over. For many people, cryptocurrency

I think that cryptocurrency will take over eventually. There might be big booms and busts in the meantime but it will take over. For many people, cryptocurrency has become an ideology so they will keep buying back every time it drops.

onion2k 9y ago
I think that cryptocurrency will take over eventually. It's likely that cryptocurrency won't be Bitcoin though.
- akerro 9y ago
  No, because it will be at least 40 cryptocurrencies and BTC in that group.
  - TillE 9y ago
    That's the state of the world now. Long term, if cryptocurrencies are to be genuinely useful and pervasive, it will probably be exactly one that nails all the design issues and captures 99% of the market.
    - onion2k 9y ago
      I don't think that's true. A cryptocurrency can be optimised, so there'd be currencies for fast and cheap transaction validation (like raiblocks), currencies for more secure transactions (ethereum?), currencies that are strongly private (mimblewimble), and so on. There's likely to be more than one of each 'type' as popularity of a coin will ebb and flow. We'll see lots of them come and go. I don't think Bitcoin is really optimised for anything. It's a brilliant and successful proof of concept, but there are too many flaws compared to other coins for it not to be surpassed. I used to think it could hang on as a base currency that people transfer money between other currencies, but that'd be horribly inefficient and probably unnecessary so I don't think so now. Eventually its price will plateau as people actually start to use cryptocurrencies rather than speculate, and then it'll die. All entirely speculation on my part though, obvs. I don't hold any currencies so it makes no difference to me really.
andruby 9y ago
What do you mean with "take over"? If you mean that governments will embrace a non-decentralised cryptocurrency and use that to replace their previous less traceable currency, then yeah, maybe it will take over :)
Kiro 9y ago
Yes. I will never get out of crypto, even if the market crashes down 99%. I'm in it for life.

onion2k 9y ago

I think that cryptocurrency will take over eventually. It's likely that cryptocurrency won't be Bitcoin though.

akerro 9y ago
No, because it will be at least 40 cryptocurrencies and BTC in that group.
- TillE 9y ago
  That's the state of the world now. Long term, if cryptocurrencies are to be genuinely useful and pervasive, it will probably be exactly one that nails all the design issues and captures 99% of the market.
  - onion2k 9y ago
    I don't think that's true. A cryptocurrency can be optimised, so there'd be currencies for fast and cheap transaction validation (like raiblocks), currencies for more secure transactions (ethereum?), currencies that are strongly private (mimblewimble), and so on. There's likely to be more than one of each 'type' as popularity of a coin will ebb and flow. We'll see lots of them come and go. I don't think Bitcoin is really optimised for anything. It's a brilliant and successful proof of concept, but there are too many flaws compared to other coins for it not to be surpassed. I used to think it could hang on as a base currency that people transfer money between other currencies, but that'd be horribly inefficient and probably unnecessary so I don't think so now. Eventually its price will plateau as people actually start to use cryptocurrencies rather than speculate, and then it'll die. All entirely speculation on my part though, obvs. I don't hold any currencies so it makes no difference to me really.

andruby 9y ago

What do you mean with "take over"? If you mean that governments will embrace a non-decentralised cryptocurrency and use that to replace their previous less traceable currency, then yeah, maybe it will take over :)

Kiro 9y ago

Yes. I will never get out of crypto, even if the market crashes down 99%. I'm in it for life.