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Do you think crypto will remain dominant over a more traditional digital banking solution once established players recognize there's a market? If so, why?
by jayd16 3y ago
Do you think crypto will remain dominant over a more traditional digital banking solution once established players recognize there's a market? If so, why?
- johngladtj 3y agoThe established players already know there's a market. The reasons they don't service it are regulatory, not technological, and so an unregulatable Option will eat their lunch.
- jbverschoor 3y agoYou obviously haven’t dealt with banks in the eu lately.
- fwungy 3y agoIt doesn't need to be dominant. It's such a small sliver right now that it could go 10x and still not be anywhere near dominant. There are a lot of places where the government is not strong enough to maintain a reliable currency on its own. The USA was the global currency up till now because it was universally trusted, but that's changing. The people who have profited from the international dollar are maneuvering to keep their monopoly.
- jayd16 3y agoSo you're saying 10x the usage would stabilize the currency and also increase the value by 10x or was the 5-10x in the previous comment only about usage?
- fwungy 3y agoA 10x on price would mean a significant shift would be much more expensive, as whales would have to be much bigger to cause a substance movement. Btc isn't just crypto, its the block chain too. So not only can you pay/collect, but it's publicly available and things like smart contracts are easily possible in an open environment. So we can do things like say: send x btc to y address if weather.com reports it's 50 degrees in Des Moines on May 8th at 9am, or whatever, all sorts of settlement problems are solved with no middleman who can stop it.