One of the issues I have with these wild projections (and its not so much that I disagree), but can we imagine for one second what the world will look like if crypto hits these massive valuations? What does that do to the dollar? And if the dollar is trash, what does that do to the country? The government will no longer be able to function if nobody wants to hold USD. Money printing is of course bad, but no money printing will result in a country that has utterly gone to trash.
I just don't think crypto as the main form of currency can co-exist in a world that will be a safe and wonderful place. Governments need to be able to control their currency, even if it means shady stuff happening. If government workers will all end up getting paid one day in BTC or ETH that the government has to source through taxation, since they can't print it, everyone needs to prepare for poverty wages.
Furthermore, as much as free money floating around has been highly inflationary, its also what allows innovation in business and technology. Say goodbye to every tech start-up if money is no longer cheap to borrow or acquire.
Don't get me wrong, I would love some ethics and reality to come back to our financial markets, but it will be devastating if this happens since the world will look much different and be quite hostile in my opinion.
I just don't think crypto as the main form of currency can co-exist in a world that will be a safe and wonderful place. Governments need to be able to control their currency, even if it means shady stuff happening. If government workers will all end up getting paid one day in BTC or ETH that the government has to source through taxation, since they can't print it, everyone needs to prepare for poverty wages.
Furthermore, as much as free money floating around has been highly inflationary, its also what allows innovation in business and technology. Say goodbye to every tech start-up if money is no longer cheap to borrow or acquire.
Don't get me wrong, I would love some ethics and reality to come back to our financial markets, but it will be devastating if this happens since the world will look much different and be quite hostile in my opinion.
