Eventually, people will wake up to the reality of currency is just paper. When that happens people will flood into hard assets: real estate, bitcoin, precious metals. People will choose Bitcoin because it has by far the biggest ecosystem. I don’t think people are looking for “cool” or “flash” crypto. I think they are looking for the hardest money. Nobody is looking to have their wealth debased. That’s why so many crypto don’t qualify for a good money.
Login to reply
Replies (1)
I wouldn't say Bitcoin is a hard asset though. Its strongest asset is network effect. But Nokia once had a dominant network effect, as did Blackberry after it. But they each got superseded by newer technologies that were well marketed.
This cannot happen to gold or real estate, because their value is intrinsic. They are not susceptible to technological innovations like Bitcoin or Nokia are. If Bitcoin meets its iPhone-equivalent successor, there is no value inside a Bitcoin that can retain its worth.