How can there be a crypto bubble if eventually all fiat will be in crypto?

mk4

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Quote from: Nondeduvel on January 30, 2018, 08:11:25 AM

I think that we can assume that all the fiat money will be going into crypto.

Let's be realistic here.

Even me myself as a person that definitely wants bitcoin or crypto in general to succeed bigtime, assuming that all fiat money will be going in to crypto is sort of wishful thinking in my opinion. I don't think you cant have everything in crypto as long as there is poverty. Some people on 3rd world countries cant even afford mobile phones, how are they going to transact?

Though it's possible that in the far future every currency will be digital, I highly doubt everything will be decentralized(though possible); as much as we'd want that, I don't think the government will allow that.

WillowEvul

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Exactly. Fiat money will soon become crypto, that's the destiny of the dying currencies. And that's because governments made them a big source of bubble and speculations.

Nondeduvel

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But you 're saying yourself that the debt laden fiat money will be dumped.

Jet Cash

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Quote

A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses cryptography to secure its transactions, to control the creation of additional units, and to verify the transfer of assets.[1][2][3] Cryptocurrencies are classified as a subset of digital currencies and are also classified as a subset of alternative currencies and virtual currencies. Cryptocurrencies use decentralized control[4] as opposed to centralized electronic money and central banking systems.[5] The decentralized control of each cryptocurrency works through a blockchain, which is a public transaction database, functioning as a distributed ledger.[6]

That is a quote from wikipedia, and it defines crypto currencies reasonably well. Governments will not introduce crypto currencies, but they will extend their use of digital currencies to allow them to dump the current debt laden fiat currencies in my opinion.

Nondeduvel

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I think that we can assume that all the fiat money will be going into crypto.

That would mean that there won't be a cryto bubble. Fiat money will be the only bubble.

Topic: How can there be a crypto bubble if eventually all fiat will be in crypto? (Read 144 times)