Read Millionaire Fastlane
- Aug 13, 2018
The thing is, if we get to the point where crypto replaces fiat, it will no longer be the speculative roller-coaster ride that it is today. If crypto replaces fiat, that means that it will have reached the point of mass adoption. That means that there will no longer be huge gains left to be made. Sudden dips 25% will be a thing of the past. The fluctuations that do exist will be similar to the small fluctuations that we see today between currencies. To take one example, the exchange rate between USD and EUR changes constantly. But that doesn't make a noticeable blip in most people's finances. The exchange rate matters to people engaged heavily in international commerce. That's about it.I hope and want crypto to crash for good with no point of return, so that we won't be in a world where crypto (bitcoin especially) replaces fiat and becomes the de-facto currency of all transactions.
It's scary when you think of this scenario whereby a customer pays you 0.0002 bitcoin for a product purchased via your ecommerce store, and that 0.0002 is say, for e.g, worth $45 at that time of purchase. Then next week, bitcoin suddenly dips 25%, and you're f*cked. You've made a loss. And then you've no choice but to keep hodling the bitcoin you've and wait till the right time to sell it to make a profit. f*ck. That then becomes a full-time investment job on top of the ecom store. How shitty is that. And I can't imagine trying to convert between crypto to fiat exchange rate in each calculation, and it would be messy in the accounting books as well. f*ck! Can you imagine doing corporate accounts with crypto instead of fiat?
Hope this nightmare never materializes. May bitcoin and crypto all go the hell!!!
If we get to the point where crypto replaces fiat, nobody is going to be stressing over whether their 0.0002 BTC is still worth $45. All that they will care about is that their account went up by 0.0002 BTC. The exchange rate to USD will be meaningless, because USD will be irrelevant.
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