good post, I kind of wonder what would happen if the dollar takes a dump... On some exchanges there are also other fiat currencies to trade, but if the fiat currencies don't hold where do we go? BTC, ETH etc. are too volatile to store any significant amount of wealth; perhaps an option would be to trade cryptos for physical gold?
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Then Bitcoin will go up :)
The gold thing has been tried already and I think there are few gold backed tokens outhere just not in the top
IMO this will not take of as crypto is all about digital.... if you have gold backed coins, someone will need to manage the gold, centralized solution etc .... in the end isnt that the puropse of btc .... to replace gold :)
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yes, I get what you are saying. But if you really have money in cryptos like 100k+ and bitcoin goes into its bear phase again (which will probably happen in about 2 years). Do you really want to hold bitcoin if it's value gets reduced by 30%, 50%, 80%?
I think the long term plan is for governments to install a digital currency, probably a semi global one (e.g. USA; EUROPE and CHINA/RUSSIA on the other end). You will then be able to convert your old fiat currency into the digital one at a fixed rate until its gone. How will cryptos behave in such a time? Probably very bullish, but they many also be subjected to a lot of regulation.. will one then still be able to trade it for the new digital currency? Probably yes... I guess a lot is just very unclear at this point