Great article, very thought provoking. However, I'm more optimistic. The main difference between crypto and fiat is transparency in the total amount in circulation. Another difference is the people/market can freely choose which one to use and no govt or banks can decide what ultimately becomes 'king'. I personally diversify into several alts, so I could care less which one specifically takes the top. Yes it can get confusing and complicated, or filled with BS drama, but so does politics and Govt/Fed Reserve policies. Also, if you don't understand crypto, you probably don't understand fractional reserve banking. Does not understanding how USD $cam coins are created out of thin air, keep millions of people from using or holding them? Apparently not. Will endless BTC forks keep some people from investing into it, maybe. Either way, Crypto/blockchain is the new 'thing' and the network effect alone will most likely bring the rest of the world on board.
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I am optimistic about digital currencies, but I have my doubts about how the Bitcoin brand might be perceived years in the future. Quite a few years ago I wrote about this subject and I explained how Bitcoin was not going to be updated or changed easily as it was so resistant, as many at the time thought it would be easy, and that proved to be correct (hard to change), although I did not think that Bitcoin maximalists themselves would split into different chains and each call those chains Bitcoin. So that is a long term risk.