Why do I think crypto will dominate the financial market eventually?

 

When it is already such a challenge to get people to understand what bitcoin is to begin with ? when most retailers don't even know what it is, much less accept it? - how can I say such a thing? The same way that I knew computers were the future of everything the first time I saw one. You get some kind of understanding that this is the new way things are going to be done from now on because it just makes sense. The first time I saw a computer and realized what it was capable of - I immediately saw a future where computers were used to automate everything and that this amazing box was going to be a transitional part of the future. When I read about cryptocurrency and the blockchain - I again realized immediately that something fundamental had happened. It may take several decades - but paper money will go away and consumers will only be using cryptocurrency.

 

People are already using digital currency everyday when they use their debit card or credit cards. They use it when they buy things online and on their phones. When buying gas. In video games - to buy swords and upgrades and what-not. We are all getting really used to buying things without cash - and before long, it will be such a convenience, we're going to wonder why we ever bothered to use cash to begin with - just like we wonder how people could have used sea shells as currency, the dollar will go the way of the Dodo.

 

In addition to the convenience factor - another thing to take into consideration is impending crash of fiat money . They can only water it down so much before it loses all value. Listen to any of the financial experts today and they will tell you that the crash is eminent and if you understand how the federal reserve and fractional reserve lending works, then you can already see the writing on the wall for yourself. When you see that media pumping hysteria about the crashing dollar -people will be scrambling to get out of it and will be looking for somewhere else to put it .

Granted - precious metals will be very popular - but as the demand for hard assets increases and the price goes through the roof .. crytpos , which will have established themselves by then , will start to look real attractive as a trading currency. As long as people can spend it - they will use it - they just need to know that they can spend it . So a lot of the work is going to be on the shoulders of merchants worldwide who are willing to take the risk by accepting alt-coins . However, it will be the responsibility of the crytpto-community to educate them . We are already seeing major global merchants like Visa and Mastercard jumping on board and offering cards that connect to your bitcoin wallets than can make cypto-transactions seemless.

 

Even with all that said - I believe that it is just a matter of time before crytpo represents ALL currency - this is the digital age and we already use digital money more and more. As they usher out the paper dollar , consumers will get used to using digital currency. Once everyone is on digital money , or even sooner they will announce a need to make it more secure - so they will transition it to the blockchain . There will be hundreds if not thousands of choices of crytocurrency to use and before you know it , that will be only form of currency. Several decades from now , we will look at a stack of paper money the same way we look at old confederate money - more of a novelty, than a functional currency. In that time, crytocurrency will dominate the world...

Thoughts ... agree or disagree?

---

 

Please be sure to check out my others articles on real estate, investing , and crytocurrency ( and some other random dog stuff)

https://steemit.com/crytocurrency/@jorlauski/bitcoin-biggest-threat-to-us-financial-system

https://steemit.com/cryptocurrency/@jorlauski/new-crypto-backed-by-reits

https://steemit.com/realestate/@jorlauski/48gr5e-house-flip-is-a-disaster

https://steemit.com/dogs/@jorlauski/which-dog-gets-a-snicky-snack