I think cryptocurrency is a good alternative to fiat ,but I don't think it will completely replace it. Most likely they will exist in parallel. In digital currency there is no cash - this is a big minus, although perhaps in the future this issue will be resolved , but I can not imagine how.
Topic: What is your Exit Strategy? Do you even have one? (Read 71 times)
#3
Fiat will be around for a while, but its days are numbered. Governments, Banks and Businesses all want paper currency to go away, not necessarily fiat. They have been making it easier and easier for people to pay with plastic for decades. This was leading up to their version of a cashless society. From a bankers perspective, look at all those fees they will be collecting! From the perspective of the government, look at how easy it is to see and control the flow of money! From a business perspective, look at all the data we can collect!
Crypto gives us the opportunity to take back our privacy and retain more of our money. Banks are not a mandatory part of the equation if you want to pay with Crypto. If you use the right Cypto, the government can't track it and businesses will have to be happy with whatever information you want to give them.
I think there is a shift towards Crypto, but it will take a couple decades before fiat is gone altogether. I think in order to see this actually happen the way governments are structured will have to drastically change. No more two-party stuff.
I don't have an exit strategy, but then again I'm not all in.
Fiat will be around for a while, but its days are numbered. Governments, Banks and Businesses all want paper currency to go away, not necessarily fiat. They have been making it easier and easier for people to pay with plastic for decades. This was leading up to their version of a cashless society. From a bankers perspective, look at all those fees they will be collecting! From the perspective of the government, look at how easy it is to see and control the flow of money! From a business perspective, look at all the data we can collect!
Crypto gives us the opportunity to take back our privacy and retain more of our money. Banks are not a mandatory part of the equation if you want to pay with Crypto. If you use the right Cypto, the government can't track it and businesses will have to be happy with whatever information you want to give them.
I think there is a shift towards Crypto, but it will take a couple decades before fiat is gone altogether. I think in order to see this actually happen the way governments are structured will have to drastically change. No more two-party stuff.
I don't have an exit strategy, but then again I'm not all in.
I dont have exit trategy because i believe in cryptocurrency.This is future and its here to stay.I have a good feeling that one day we will all use crypto as payments and also for all financial transactions
I want to believe that cryptos are the future to the existing monetary system, but I am not sure if governments around the world are going to allow it. We will see what the future will bring. I would definitely want to have all my potential assets stored in cryptocurrencies and not in a bank. But if cryptos indeed get mainstream, then I intend to hold my cryptos since then you could buy anything with it and don't have to convert back to fiat. You can already buy a lot of things with bitcoin.
If you believe in (2), do you have a plan?
I believe in statement number 2 but what plan are you asking for? If you believe it, then you would simply buy and sell crypto every now and then until the coexistence of fiat and crypto is certain. You alone cannot do a thing to make it a reality, but at least you can keep using it so that you will contribute to the daily volume of trades crypto has, and will help speed up crypto and fit's coexistence.
There are several parallel trains of thought when it comes to crypto investment...
(1) It is a fad, and the excitement will eventually subside
(2) It is a true alternative to fiat currency
(3) It is our future, and fiat currency will eventually become non-existent
Within (1), I would imagine there is some truth for many, but not all, of the various currencies and tokens out there. Some are destined to fail, if only because of other coins competing for attention in the same genre or field.
Within (2), there are many opportunities to see fiat and crypto coexisting in many parts of the world.
As for (3), I believe crypto cannot completely replace fiat until such time as all people globally have easy access to the necessary technology and internet access. In large parts of Africa, Asia and South America, I think we are still some way off.
So then the question becomes...
If you believe in (1), what is your exit strategy? At what point do you pull the pin and convert all your crypto back into fiat?
If you believe in (2), do you have a plan?
If you believe in (3), how long do you think it will take for fiat to disappear?
(1) It is a fad, and the excitement will eventually subside
(2) It is a true alternative to fiat currency
(3) It is our future, and fiat currency will eventually become non-existent
Within (1), I would imagine there is some truth for many, but not all, of the various currencies and tokens out there. Some are destined to fail, if only because of other coins competing for attention in the same genre or field.
Within (2), there are many opportunities to see fiat and crypto coexisting in many parts of the world.
As for (3), I believe crypto cannot completely replace fiat until such time as all people globally have easy access to the necessary technology and internet access. In large parts of Africa, Asia and South America, I think we are still some way off.
So then the question becomes...
If you believe in (1), what is your exit strategy? At what point do you pull the pin and convert all your crypto back into fiat?
If you believe in (2), do you have a plan?
If you believe in (3), how long do you think it will take for fiat to disappear?
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