Fate of Digital Cryptocurrency

Digital currencies use blockchains (distributed ledgers) on a network of computers. The value of the various cryptocurrerncies is determined by the number of users.

 

In theory, if everyone stopped using a given network, the value of the currency would drop to zero. Unlike gold, which has intrinsic value, cryptocurrencies are only backed by a belief. Note that the value of cryptocurrencies is always expressed in dollars. A cryptocoin is nothing more than an electronic vouchers.

Where will crypto be in the future?

The faith of privately issued cryptocurrencies will be in large part determined by governments using blockchain or variations of it to replace cash with digital currencies.

Government can not allow a parallel currency because the power to issue currency is their most potent weapon. Moreover, they use it to service they enormous debt and to pay for entitlements like pensions. The current system is far from perfect, but if you are saving for a pension, be careful what you wish for.

 


Fate of cryptocurrency

 


It will rule the world. We don’ know which Blockchain tech of today will be here 5 yrs from now but Blockchain is here to stay and will infiltrate all areas of economy. We are still in early stage of overall development but great foundations have been laid to be built upon. The query you mentioned will be hard to topple as a blockchain is a living entity ready to be morphed into its next phase of existence and therefore will be hard to dethrone….

But not impossible. Invest wisely.

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10 thoughts on “Fate of Digital Cryptocurrency”

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