Global remittance is $500 billion.  Investment Gold is $2 trillion.  Retirement funds are $20 trillion.  There's $97 trillion investments worldwide.  Derivatives are $400 trillion.

Dot.Com bubble of late 1990s was $7 trillion and created new billionaires like Mark Cuban overnight.

Housing Bubble of 2008 was $10 trillion.


It's far from bullish to suggest that Bitcoin or Crypto Currencies will be worth hundreds of billions.  Quite likely that crypto currencies will hit $1 to $10 trillion within our lifetimes (and not in some hyperinflation scenario    ).
 

I deposit $1000 into the Bank

Bank Clerk types "+$10,000" on the keyboard and then the clerk lends out $9000 in mortgages and loans to other customers, which then goes towards other recipients who then spend this made up money on consumer goods, services and luxuries.  Withdrawal limits and other measures are brought in to prevent customers from withdrawing more money than the bank actually has.   Meanwhile, since there is all this extra money in society, people realize it's becoming worthless and therefore prices go up (inflation).

The only people who benefit from this are those who have the license to print money, the bankers.  Bankers are the same ones, for years, who have requested we move away from a cash society because it would make their evil work easier.   After all if there's no paper money then the bankers have complete control over everything.   


Fractional reserve banking has to go.  Why do we need bankers?  How can they necessarily be any better at banking than the average university math graduate?  If you're telling me you need to be born into a generational banking family to do risk assessments ("should I loan $300K to a guy who hasn't worked in 15 years?") then you must be "bright".

 What worried me was the fact there were actual people who threw money at a coin called "Slothcoin'.

http://www.coindesk.com/vericoin-altcoin-spend-wherever-bitcoin-accepted/

A temporary solution to the lack of merchants?

Well corporations tend to be very massive entities, so naturally they would keep these sort of savings on hand, but I feel a corporation can react quicker to the demise of the $USD than ordinary middle and working class people who would be largely oblivious.

Corporations with short turnovers would be affected, like many food corporations have a turnover of weeks and thus a sudden loss of the petrodollar could force many businesses out of business..  but your typical big money entities like industry, IT, et cetera, would have plenty of time to adopt.

Honestly the only people who lose out in a real scenario of the end of $USD strength is the working class / non-asset class and the government / military (asset taxes would not make up for the loss in income tax when the currency drops).

Satoshi got eaten by Luka Magnotta who then took Satoshi's private keys.

Magnotta is prison for so long he doesn't know he is rich.

Well that has already happened to an extent.  The aged middle class keeps their savings in real estate and stock funds.  If the dollar collapsed nothing would change for those with assets.  Look at real estate prices in China and Russia which compares or exceeds that of USA.

Dollar collapse would bring a systemic decline in living standards for those without assets.  Also would affect government finances

Maybe but explain all the attention on cryptos from governments and banks around the world.

Bitcoin has a smaller capitalization than drop box but you don't see governments cracking down hard on drop box.

I think you don't comprehend how much investment money is in the world (1 trillion is nothing)

Dot.com bubble was $7 trillion and it created many new billionaires like Mark Cuban, Kevin O'learhy, et al, overnight.

There's $2 trillion investment gold.  $97 trillion investments worldwide. $400 trillion derivatives.  Cryptos can easily be $1 trillion within 5 to 10 years.

I wouldn't sell a stake for less than 10,000,000.

Well it's the Pareto rule.  Eventually the wealth is owned by a minority.

  In former Soviet bloc they implemented capitalization and wealth was evenly distributed (even to children) in the form of voucher privatization.   They also received their residences for free too, IIRC.

http://en.wikipedia.org/wiki/Voucher_privatization  

It would be like everyone's mortgage in America being paid off, get a free summer cabin and everyone (including your kids) receiving $200K in equity in multiple companies.  So if you have 4 kids and a wife, your family would get $1.2 million overnight plus your properties.

 Wealth equalization is great but hey, wait a second, why's Eastern Europe so broke and depressed?

  What happened in the east?  People sold their vouchers for vodka, food ,cars..  the vouchers were dumped (like people dumping Bitcoin and stocks) and this essentially crashed every economy in Eastern Europe.  

Eastern Europe economy was essentially a real life aurora coin.     "Air drop" didn't work in the 1990s and didn't work in 2014.   

You missed out on Sex Coin.  All the Eastern European web cam girls wanted them for awhile.  The biggest sex coin whale was probably some Svetlana in a small village in Moldova.      Capitalism is exciting, you dance naked all day on a web camera to fat American men and make more money than the average guy in your country.

No one remembers Sex Coin?  It used to be worth several million; no idea why it died but I bet it was scandal related.  


There's some prospect in making a 10x return on Wankcoin (if you bought under 500) but that's largely it.  If anyone gets wealthy with this coin, they'll presumably dump for BTC as one can only look at so much porn.

Unless you're over the age of 70, who gets their news from the box anymore? 

I get my news almost live all the time - I get the news on Iraq and Ukraine days before MSM reports any of it and they likely get their 'sources' from the same website I read.

Doge would be the court's jester or the evenings' meal.  NxT would be a Duke?

True - too many coins claim to be innovative but most of them are 1.0 clones of Bitcoin with a few small changes.  It's ironic when a coin claims to be innovative and yet they appear to be using a reskin of Bitcoin's wallet.   

Satoshi 1.0 + BCnext 2.0 + Qora 3.0 make NEM 4.0.  Tell everyone in China!   

I don't see the whole currency war thing.  Since Nixon ended the gold standard, $Fiat already died long ago and it's been replaced by assets.  Very few people have more than 5 digit savings as they put all their money into housing and stocks.

If $USD is replaced by another currency it wouldn't impact assets much.  Look at Eastern European and Chinese real estate, their real estate prices rival or even exceed those of many American areas.  Changing the Petro Currency wouldn't change any of that.  

Technically if Petro Dollar died it wouldn't impact the elites or the asset holders much, but it would probably make life hard for the working poor with no assets and run away inflation would probably make them riot.  "When a man has nothing to lose - he loses it"
 

You would think so but that's often not the case.   .  To live an "American lifestyle" is cheaper in America than it is abroad.  One can hypothetically buy a McMansion in Neveda or Texas for under $500K but this same property would go for millions in any other country.  Much like contemporary condominiums is cheaper in America than it is in developing countries where such modern housing is in short supply and often is marketed to expats.

Cost of living is developing countries is only 'cheaper' if you're fine with bungalows that aren't serviced by utilities.  There are some exceptions like Thailand which seems to have a lot of first world styled amenities for cheap but Thailand is a big exception.

There's easily 800 to 2000 "alternates" to Bitcoin by now.

You technically have better odds playing scratch tickets or lotto tickets, since many of those games have odds like 1 in 20 to 1 in 100 to win the $20 or $50 prize.  As others have suggested, alternates is gambling (unless you have a clue as to what you are doing, and often most do not).

Of course you can do your homework and make good informed investment decisions but that's a strong assumption and asking too much from "average joe".  Hint:  stick to the 2.0 coins.  The likelihood of a new 1.0 $hitclone coming anywhere close to Bitcoin is as likely as the President being hit by lighting 10 times in a single day.

If cryptos hit $1 trillion (versus $500 billion remittance, $2 trillion gold, $7 trillion dot com bubble of 1990s, $20 trillion retirement, $97 trillion investments, $400 trillion derivatives..)

Even if BTC owns $800 billion of that, that $200 billion split between the remaining alternates would make us all 'well off' (with quotations, having a few dozen million ain't bad when the typical average person in the world - even the 99% in the developed 'rich countries' - has almost no savings).  You can conceivable have a $40 billion NEM / NxT / Darkcoin relative to a $120 billion LTC and a $780 billion BTC.  Mind you, that's assuming the status quo of Bitcoin King and Litecoin Prince can hold... both could foreseeable be "myspaces" being replaced by a "Facebook" / "VKontakte"