On the future of Cryptocurrencies

[LUCKMCFLY]

I think the future of cryptocurrencies is promising, but the only thing is that it is most likely that many cryptocurrencies, many projects, even those with the best technology, will die, in an eventual downturn of the economy only the strongest cryptocurrencies will survive, obviously BTC and ETH, so it could be in the top 10 of CMC, but mostly I think Monero will be on that list, because it represents an excellent coin for privacy and anonymity.

I emphasize privacy and anonymity because it is already being very difficult to preserve such a right, so much so that for anything that requires KYC, in the not too distant future, what people will look for the most is not to track them and this is where they Coins like Monero can survive, but most cryptocurrencies can be short-lived, of course that's my way of looking at this deflationary economy.

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[Obito]

I think the future of cryptocurrencies is promising, but the only thing is that it is most likely that many cryptocurrencies, many projects, even those with the best technology, will die, in an eventual downturn of the economy only the strongest cryptocurrencies will survive, obviously BTC and ETH, so it could be in the top 10 of CMC, but mostly I think Monero will be on that list, because it represents an excellent coin for privacy and anonymity.

I emphasize privacy and anonymity because it is already being very difficult to preserve such a right, so much so that for anything that requires KYC, in the not too distant future, what people will look for the most is not to track them and this is where they Coins like Monero can survive, but most cryptocurrencies can be short-lived, of course that's my way of looking at this deflationary economy.

I would probably give it 10 or 15 more years and a lot of coins will probably be abandoned and by that time, there should be a 10 coin that will survive because they either have a good use case and they become what bitcoin is during its ealry stages, I would agree that a lot of privacy oriented coin is going to dominate since it is a privilege to be anonymous in this space.

[arallmuus]

This is the future I see, a million problems solved and a million applications created by cryptocurrencies and blockchain technology.

I do have the same POV with the blockchain technology but not with cryptocurrencies but dont get me wrong on this. I do hold some cryptocurrencies but some day, some countries might adopt the blockchain technology and implement their own currency with it. China is definitely going to launch their Digital Yuan somewhere in the future and probably might use some of the blockchain technology

To put it simple, cryptocurrencies might change the world economy but not in a way that we all dreamed of. Most of us in this forum definitely want bitcoin to take off and mass adopted but its probably only blockchain that is going to be adopted by the economy system

[hannahB4]

This a long article to read but I tried my best glancing through but why would we have this "A world where selling cryptocurrency would be a last resort, like selling grandma's gold watch". I don't see this in the future that this would be the last thing to set in for.

[el kaka22]

This is the future I see, a million problems solved and a million applications created by cryptocurrencies and blockchain technology.

I do have the same POV with the blockchain technology but not with cryptocurrencies but dont get me wrong on this. I do hold some cryptocurrencies but some day, some countries might adopt the blockchain technology and implement their own currency with it. China is definitely going to launch their Digital Yuan somewhere in the future and probably might use some of the blockchain technology

To put it simple, cryptocurrencies might change the world economy but not in a way that we all dreamed of. Most of us in this forum definitely want bitcoin to take off and mass adopted but its probably only blockchain that is going to be adopted by the economy system

I do not agree with that. For one simple reason as well; centralization. If a blockchain made by a government is still centralized that means there is not going to be any competition for bitcoin, the reason why people like bitcoin is the fact that nobody could print more and give it to rich people, that is what is going on with the fiat world, right now governments print more and more money and give it to companies so that they can fire thousands of people while paying their CEO's tens of millions of dollars and that is just not an okay thing to do, it hurts the world as a whole and it is never going to recover as long as this keeps up.

It means we are talking about something that is not going to change with governments starting their own digital currency, they can do that as much as they want and they will never compete with bitcoin for me.

[ven7net]

Indeed, no one can know what cryptocurrencies will look like in the future, since until now no one can answer exactly who created BTC and for what. But if you guess on the coffee grounds, then we can assume that cryptocurrencies are either an experiment carried out with the aim of switching to a new financial model in the future, or it is a planned operation to withdraw cash as current to solve a problem in the international financial system associated with the US dollar. All these are assumptions, it is likely that cryptocurrencies will continue to exist in the future.

[just_Alice]

China is definitely going to launch their Digital Yuan somewhere in the future and probably might use some of the blockchain technology

I wouldn't be so sure about that... The digital yuan is, basically, a little upgraded fiat. If China was into blockchain technology they wouldn't enforce bans on trading and who knows, maybe they'll even go as far as prohibiting mining activity (though I hope they realize the financial consequences).

The real reason for all this is gaining even more power and depriving people of privacy. The yuan, digital or not, will be backed by the government and they will have the opportunity to track every single money transfer, and the commercial banks will be the ones that distribute the coins to customers.
Simply no point in the blockchain for them.

[LUCKMCFLY]

I think the future of cryptocurrencies is promising, but the only thing is that it is most likely that many cryptocurrencies, many projects, even those with the best technology, will die, in an eventual downturn of the economy only the strongest cryptocurrencies will survive, obviously BTC and ETH, so it could be in the top 10 of CMC, but mostly I think Monero will be on that list, because it represents an excellent coin for privacy and anonymity.

I emphasize privacy and anonymity because it is already being very difficult to preserve such a right, so much so that for anything that requires KYC, in the not too distant future, what people will look for the most is not to track them and this is where they Coins like Monero can survive, but most cryptocurrencies can be short-lived, of course that's my way of looking at this deflationary economy.

I would probably give it 10 or 15 more years and a lot of coins will probably be abandoned and by that time, there should be a 10 coin that will survive because they either have a good use case and they become what bitcoin is during its ealry stages, I would agree that a lot of privacy oriented coin is going to dominate since it is a privilege to be anonymous in this space.

You are absolutely right, although at the moment many seek to earn, generate profits with any cryptocurrency by trading or investing, I am sure that in a few years what they will look for the most is the best currency to have privacy and anonymity, because seeing that most of the things they ask KYC, nobody likes to see how much money each one has moved, especially that the information will be held by governments and third parties such as banks.

I am sure that Monero will shine even more, it is one of the currencies that will survive by default, in terms of privacy, more critical coins are also good like Zcash, among others, but the history and especially the commercial part dominates a lot. plus Monero, which is also one of the favorite coins of many to do mining.

[yananda]

China is definitely going to launch their Digital Yuan somewhere in the future and probably might use some of the blockchain technology

I wouldn't be so sure about that... The digital yuan is, basically, a little upgraded fiat. If China was into blockchain technology they wouldn't enforce bans on trading and who knows, maybe they'll even go as far as prohibiting mining activity (though I hope they realize the financial consequences).

The real reason for all this is gaining even more power and depriving people of privacy. The yuan, digital or not, will be backed by the government and they will have the opportunity to track every single money transfer, and the commercial banks will be the ones that distribute the coins to customers.
Simply no point in the blockchain for them.

does that mean the banks will adopt the same system?
i heard other countries will also digitize currencies. if they only use part of the system and not copy completely, of course it cannot be called the same

[lixer]

China is definitely going to launch their Digital Yuan somewhere in the future and probably might use some of the blockchain technology

I wouldn't be so sure about that... The digital yuan is, basically, a little upgraded fiat. If China was into blockchain technology they wouldn't enforce bans on trading and who knows, maybe they'll even go as far as prohibiting mining activity (though I hope they realize the financial consequences).

The real reason for all this is gaining even more power and depriving people of privacy. The yuan, digital or not, will be backed by the government and they will have the opportunity to track every single money transfer, and the commercial banks will be the ones that distribute the coins to customers.
Simply no point in the blockchain for them.

Unfortunately the digital yuan is just the reason why they are banning everything else, because they want people to actually be in love with digital yuan but also they want people to not have any other option to handle neither, so you would be forced to use digital yuan and nothing else. Even owning USDT or BUSD or anything like that could become very punishable, like a huge fine and even maybe jail, we are talking about China here, these are the same people who murder another race just because they want to, so I am sure they can ban whatever they want as well, that way they will force whole china to use digital yuan and not crypto as much as they want.

In another nation things would not be the same, start a digital dollar in USA and nobody would care, you can't even properly ban it there but it is perfectly legal anyway (other cryptos) so only in china this idea could work and that is with forced situation.