You are viewing a single comment's thread from:

RE: How should we think about today's cryptocurrency prices?

Finally... a good article. Thanks for that. I am following you now.

Just a thought: I believe the 'cycle' that you mention will only keep growing (or will only get more complete) in the future. You say that ICOs eventually need to sell the cryptos to pay their costs, and I agree that is true today. But as cryptos become more used (or mainstream), I believe some employees will eventually be willing to get paid in cryptos.

Think of an ICO in places with unstable economies like Zimbabwe (unlikely today, I know). Workers (and service prviders) will prefer to get paid in anything but their local currency.

Just like unstable governments have opted to use other currencies (e.g. USD) because theirs are simply too unstable, I think people and companies will eventually prefer cryptos over fiat currencies.

If I am a worker in Zimbabwe, I would rather receive my salary in frequent-flyer miles (I'm exagerating, but you get the point) than in fiat currency that can be controlled/frozen by my government or bank.

Voila - the economy closing the loop.

Sort:  

Yeah, I think that's all pretty much on the money. In the long term, I suspect that will happen more and more. But I'm guessing that it won't be a very smooth process; it'll happen with lots of jumps and starts and fortunes made and lost.

pocketsend:[email protected], thanks for the reply!

Successful Send of 1001
Sending Account: biophil
Receiving Account: antonio.mtw
New sending account balance: 828171
New receiving account balance: 1000
Fee: 1
Steem trxid: 2251a2da94ae485e05e6816051192f8b95bd1a6e
Thanks for using POCKET! I am running this confirmer code.