Quote: (12-12-2017 03:11 PM)superschalk Wrote:
Quote: (12-12-2017 02:37 PM)Kid Twist Wrote:
^ It becomes a cash market, as well as understood value for exchange. Sounds like it is difficult, but is very possible if you can get a big enough F the man following.
Yes it could become a cash market at some point but we are far from there yet. For example the ETH blockchain is totally fucked up at the moment it takes ages to get a transaction confirmed.
Also you might be able to buy a coffee for BTC at some point but the owner of your coffee shop down the road might need still to buy the coffee from his supplier in USD.
I get the point that crypto might become a cash currency but I do not see this happening within the next five years. And as soon as governments disallow to exchange crypto into fiat there is hardly any argument for investors to keep on investing in crypto for now.
This argument assumes all governments will act in unison. It's not an unreasonable assumption to make, but I'm not sure that governments will act as such.
Already, Japan has thousands of stores that accept Bitcoin.
Russia (Putin) is looking into Ethereum.
I wouldn't be surprised if we see a future where some governments try to ban cryptocurrencies, others welcome it in hopes of economic investment and financial gains, and in the end it becomes either you accept crypto (in some form or another) or you lose out economically to countries that do.
Note: here my assumption is that blockchain technology ends up providing a powerful enough economic benefit to nations that they can't ignore it.