Hi Greg,
Love your work and follow you just about every day, but this is one topic I respectfully disagree with you on. Cryptocurrencies are not a good money alternative. For one, look at the volatility.. they are up and down like a toilet seat. Currencies need to be stable. People need to be able to rely on the buying power of what they own. These cryptos can change from minute to minute it seems. For now they are highly speculative assets. Not money.
Also, they have no more intrinsic value than the dollar does. People point to the scarcity or the inability to create (for example) bitcoins out of thin air like they do with the dollar, and equate that to intrinsic value.. but there is absolutely no limit on the number of alternative cryptocurrencies that could be created. Just look at how many are out there now, compared to just a couple years ago, hundreds, and the number is rising. All of them competing in the same niche market. This increasing market saturation will put increasing pressure on the price of any one crypto.
If a government actually decided to adopt a cryptocurrency as the official money, I believe they would simply set up their own through their central bank or maybe the IMF could come out with one, but it's not like they are going to come out and declare bitcoin as the new reserve currency of the world. In time it may even be outlawed as globalist governments continue to try to crack down on internet freedoms.
I don't trust this shit.
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