Petro is a shame of crypto world, what could have been a good example of how blockchain/crypto solves people's problems turned out to be a complete scam.

However, when the ocean rises, water fills lowlands and valleys first. Be it Venezuela or another country, one day national cryptocurrency will be a perfect answer to country's problems.

In fact, cryptocurrency shouldn't be there just for the sake of cryptocurrency. It should be a convenient tool to solve people's problems. A tangible solution. Most of the projects forget that their product will be used by average people, who seek and try to solve everyday problems, even if these are investment problems.

Crypto and blockchain in general atm look like a geek-oriented industry, try to describe what is bitcoin and how to send/receive it to your grandma. Most likely she'll call exorcists.

So, usability, simplicity, and mass adoption are key factors for crypto success.

Didn't check for the whole thread, guess it might've been said, but mass adoption and lack of transparency on top of regulation attempts is what can be considered a hindering factor for the crypto market.

ICOs booming in 2017 and kinda dieing in 2018 is a thing of a past already, however, that brought us to a current state of skepticism and uncertainty.

So, facebook coin, JPM coin and etc. hopefully will solve these problems, but who knows what it'd look like.

Gold as collateral have a long story from mid-centuries (and even earlier). However now we barely use it, because American dollars has spread its hegemony on the world. Before Bretton woods crisis there was a good chance for some improved money system to appear but in fact tricky politics of the US lead the world to rely on the dollar in international exchange. It only benefits US state in many forms.

Dollar doesn't have intrinsic value aside from the fact it is the strongest currency in the world right now (with the biggest debt).

However, personally, I see future of crypto as a form of collateralized and non-collateralized stablecoins (may be a mixed stablecoin) that will be so comfortable to use and so convenient to measure goods with it'll overcome the dollar.