Ivory Johnson: Certified Financial Planner and Founder of Dalensi Wealth Management
“Cryptocurrencies will disrupt the traditional meaning of the economy because one of their most attractive utilities is the ability to efficiently transfer payments across borders which is low or cost free. In the case of Bitcoin, 50 years is a long time and Bitcoin could become the world reserve currency or the next AOL which could make many people rich until some other advanced technology comes along. ”
Like any other traditional financial expert and certified financial planner, Ivory Johnson has no idea how money works and how it emerges because these experts usually will take the concept of money as a given. It may well be they consider it the creature of omnipotent State which keep developing new kind of money every century to make it more suitable for people's needs and satisfying current economic activities. That is why he thinks that in the future there can be some sort of "advanced version of Bitcoin" developed, which will replace Bitcoin. Probably, he is talking about CDBC that is going to fix all the drawbacks of Bitcoin such as a fixed supply, decentralized issuance, a shortage of rulers, and no place for corruption.
From my point of view, although I am not an expert, money is the creation of the market. For example, gold has been money for thousands of years not because someone has declared it money but because it has certain characteristics that make it the best among many other candidates. Even with the creation of a digital version of hard money, gold won't lose its value because its useful characteristics remain in place. The same is true for Bitcoin.
