This was an interesting video I found on Youtube, wherein Andres Antonopoulos responds to the Bitcoin maximalist vision for the future where fiat dies out entirely, and Bitcoin reigns supreme globally.
Hyper Bitcoinization:
"Is this idea of a tipping point at which the ability to sustain a fiat economy in the presence of a very vibrant cryptocurrency economy is no longer there, and people abandon fiat currency in Droves, and you have a mass conversation over to some form of cryptocurrency, usually Bitcoin. To me that is a bit of a maximalist position and it is more or less fiction. I do not believe we will have a moment when Bitcoin will become the only, the dominant, the replacement for fiat. I don't believe that will happen. In fact if it was starting to happen then we would have a full-on, outright, all-out currency war, and we do not want to engage in full-on currency war with nation states that have armed thugs."
-Andres Antonopoulos
"All of those people driving around lambos with bitcoin license plates... you'll be the first ones."
-Andres Antonopoulos
"Let's not do that. So I don't believe in Hyperbitcoinization. I would hope we see a much more, let's say an orderly transition to a multicurrency, pluralistic world, where people have many, many choices that have increased their freedom without first hitting rock bottom."
-Andres Antonopoulos
All credit for the video content belongs to Andres Antonopoulos, if you do not follow him on
Youtube, Twitter (@aantonop), and in the streets... you should. :)
If you enjoyed this content, please consider up-voting, commenting, resteeming and following.
I believe he is right, when cryptocurrencies become a threat to the states they will do something about it. Great post.
how do you think or your prediction about bitcoin price in 2018 whether it will be increasing or going down.
I just want to survey some people's opinions
Up up down up down up up down up
Something like that
#notfinancialadvice