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>I see cryptocurrencies as inevitable. Eventually cash will be eliminated, and this will only leave cryptocurrencies. Except, unless cryptocurrencies are tied
by delfinom 3y ago
>I see cryptocurrencies as inevitable. Eventually cash will be eliminated, and this will only leave cryptocurrencies.
Except, unless cryptocurrencies are tied to some brain implant so you cant lose the keys. There will be a need for a custodian for the average joe's key...and banks 2.0 here we come.
- Gareth321 3y agoI agree, and I think banks 2.0 are already here: exchanges. Some of them offer credit cards, loans, leverage, investing, and savings accounts already. The catch is that they're largely unregulated, so I see a lot of people opting to keep their cryptocurrency in personal wallets. Like cash, if you lose your wallet, you lose your currency. So people might have a hardware wallet at home in a safe, and one which they top up when they do their shopping each day. In fact, wallets are safer than cash because currency can be retrieved if they're well designed. Bitcoin wallets, for example, merely hold a key to one's funds in the cloud. That key can be shared with multiple devices. Many offer retrieval methods using pass-phrases, which can be stored electronically or printed and kept in a safe or deposit box, for example. I'm not claiming crypto is better or more convenient today than banks. At least not for most people. My premise is that they will become more valuable over time relative to their risks and limitations.