What will be the future of cryptocurrencies?
Alessandro Canella
26 replies
I will not say anything about Bitcoin. Let's talk more about the ecosystem of crypto coins. Do we truly understand the concept of it? Or are we going to take it as traditional money? (because a lot of us don't fully understand it, either)
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anthon@hauzenx
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ahaaan... nice to crypto in the discussions
well, crypto is the better form of traditional finance... but people need to understand it before they jump in... everything has its own learning and acceptance curve... crypto too is taking is own time to settle down in the minds and hearts of people
@andrewcanday Do you think the volatile nature of crypto will ever be totally accepted by masses?
@alessandro_canella the inherent nature of the human race likes ''the hope of richness''... whether markets are stable, volatile or any other form... people want to get rich... if there is ''hope of richness'' in a snail race people will go ahead and put their money there.
coming back to your question... as long as there is ''hope of richness'' the masses will happily accept crypto
Probably going to get regulated tbh
@philipsnyder Do you think crypto can be regulated to an extent that governments start using it in place of traditional money?
I think they will eventually become a more widespread form of payment, especially when we get a stable one, but I have not seem to many developments in that area.
Crypto currencies are basically better for valuing products and services because the currency value totally depends on demand and supply for that particular product or service.
Today it depends on demand and supply for USD or EUR , which are influenced by millions of factors!
@chetan_natesh Agree! But don't you think even supply and demand can get affected by millions of factors?
@alessandro_canella Let me share an example - imagine a crypto currency for coffee that can be used in any cafe across the world (unlike Euros which can mostly work only in Europe).
The value of this coin will mostly depend on demand and supply for coffee which in turn depends on coffee bean yields. Apart from this not much impact should be seen in the demand and supply for coffee, which in turn means the price you pay with your crypto currency much more closely matches what you're buying in terms of value.
But today where the dollar goes, all other value goes. The dollar value is also closely pegged to oil markets - this is where EVs come in - they have a much bigger role to play than just reducing emissions actually.
I think, as more people will understand how crypto works, the more effortless it will become to use it on a daily basis. Yet I feel we have a long way to go until it will become a widely-used payment method. However, the fact that more and more countries start accepting crypto, makes the situation much more positive
@_valeria_ True! And with more acceptance more complexities will arrive too. Every nation would be ready to deal with their set of money management issues.
Bitcoin and ethereum are down more than 50% from their all-time highs in late 2021. While there have been small surges in recent weeks, the crypto market as a whole is largely stalled. While no one knows for sure, some experts say crypto prices could fall even further before any sustained recovery
@ralph_hofmann Great insight! Do you think its all part of the extremely fluctuating price cycle seen before?
But the industry is only in its infancy and constantly evolving. That’s a big part of why every new bitcoin high can be easily followed by big drops.
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I think it won't decrease
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