> I still assume it is possible and likely that something like cryptocurrency will eventually become incredibly valuable
Probably, but whatever it is, it won't be Bitcoin and some magic software updates won't make your Bitcoins turn into whatever cryptocurrency-ish thing wins.
The other thing to remember is that cash doesn't appreciate in value. (In the US, we typically have 4% inflation every year.) If a cryptocurrency is going to work for day-to-day commerce, its value needs to be rather steady. (Either low inflation or low deflation.) This means you can't just stick a bunch of cryptocurrency in your wallet and expect it to make you rich overnight.
(Note: We don't have a lot of experience with deflation as "normal" in modern economies, so if crypocurrency comes with low deflation, like we have low inflation, we'll all have to adjust our expectations with money.)
Absolutely agree, if you can't represent some of your resources in it and have any idea if you'll be able to spend it somewhere near at the value you put in at, there's just no incentive to use it as a means of exchange. Kinda makes tether seem like a good idea if I wasn't so worried it's a ponzi scheme.
Probably, but whatever it is, it won't be Bitcoin and some magic software updates won't make your Bitcoins turn into whatever cryptocurrency-ish thing wins.
The other thing to remember is that cash doesn't appreciate in value. (In the US, we typically have 4% inflation every year.) If a cryptocurrency is going to work for day-to-day commerce, its value needs to be rather steady. (Either low inflation or low deflation.) This means you can't just stick a bunch of cryptocurrency in your wallet and expect it to make you rich overnight.
(Note: We don't have a lot of experience with deflation as "normal" in modern economies, so if crypocurrency comes with low deflation, like we have low inflation, we'll all have to adjust our expectations with money.)