A ‘Digital’ Run on the Bank?! How Crypto Will Take Over All Fiat Currencies (Part 1)

Episode Highlights:

  • 00:01 – Cryptocurrency Is Here To Stay
  • 01:21 – Cryptocurrency Is Going To Displace Fiat Currency

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Transcription:

 

00:01 – CRYPTOCURRENCY IS HERE TO STAY

So, guys, I mean how do you actually think this is going to end?  How do you think crypto is going to turn out guys? I mean I’ve been thinking about this for a long time, and I’ve been trying to piece together okay, cryptocurrency is now coming into being. It exists it’s you know we’ve opened Pandora’s Box; it’s not going away. Cryptocurrency, Blockchain it’s going to be around for a very long time, and it’s only just now getting started. The cryptocurrency revolution is just beginning, but how does this end? How does this whole thing end? I mean I know the internet in the web is going to change; it’s fundamentally going to be gutted out and rebuilt from the ground up using Blockchain technology, using cryptocurrency technology and other similar technologies. We’re going to completely rebuild the Internet right. But what else is going to happen besides the internet becoming this huge giant stock market which it’s going to become right? Decentralized apps are being built and they’re replacing traditional internet business models, and they’re replacing it with new decentralized business models right. New decentralized browsers, new decentralized Twitter, and social media platforms, new decentralized data platforms, and marketing platforms and all these things are now just starting to be developed right. But how is this going to turn out?

01:21 – CRYPTOCURRENCY IS GOING TO DISPLACE FIAT CURRENCY

Because there’s another aspect to this which is money, money is involved right. Fiat currencies are involved in this whole cryptocurrency revolution right. Or I should say the displacement of fiat currencies in this cryptocurrency revolution. What do I mean by displacement of fiat currencies? Well, as more and more people get into cryptocurrency, and as more and more people buy cryptocurrency that displaces the number of people that use that same amount of money in fiat currencies like US dollars or Euros or Yen or whatever currency you may want to use right. Whatever fiat currency you may want to use; So, as people start taking their dollars and their Euros and their Yen and they start taking those and they start buying cryptocurrency what do you think is going to happen? Well, the market capitalization, the total market cap or the market share of fiat currency is going to go down. It’s going to shrink right. while the value in the total market cap of cryptocurrencies is going to expand in rise right. So, there’s going to be a displacement of fiat currency being you know basically being pushed into or a funnelled into cryptocurrency which is going to expand the cryptocurrency markets right. And as the cryptocurrency markets grow, what’s going to happen right? Well, first crypto currencies value is just going to go up right. There’s going to be more people involved in cryptocurrency and investing in cryptocurrency. And the total supply of a particular cryptocurrency may be fixed right. In many cases it is with Bitcoin with Ethereum with others it’s fixed right. And so, the more people that get into crypto the more the market cap goes up in general, the more scarce those cryptocurrencies become and ultimately the more the price goes up in value right. And so, slowly people are entering cryptocurrency, slowly it’s getting adopted and it’s gaining more and more a mass adoption and it’s gaining speed right. December was a test. Last December, 2017 was a test and we saw some of the big players have a lot of money in the financial world they started dipping their toes into crypto right. And you saw the price go way up, you saw the media hype go way up right. And because the media hype and everything went up, the price of Bitcoin went up. The price of all cryptos went up really there’s a huge, huge increase in crypto currencies purchasing in that time period, because it was being adopted right. Then that slowed down and they you know banks and governments and central banks and IMF and everybody’s been trying to say that cryptocurrency is a fraud. It’s a scam, it’s going to collapse. It’s not sustainable. All these different things all of this is BS, all this is complete bullshit. It is not going to change any of this. Cryptocurrency is around. It’s going to stay around forever. We have opened Pandora’s Box. There’s no way to close it. It’s going to continue to grow. Fiat currencies are going to continue to be displaced and what that’s going to do is going to be very, very interesting over the next not 20 years, maybe 10 years, maybe 5 years. I think it’s going to go a lot quicker than people actually think. So, my question is and this maybe could be a part two of this video, but my question is what do you think is going to happen as this transition happens? Like as we enter this new phase you know is the dollar going to be displaced? Is the dollar going to be replaced? As the world reserve currency with cryptocurrency whether or not that’s Bitcoin we don’t know, but it will likely be one or another cryptocurrency or multiple cryptocurrencies right. I think it’s going to ultimately be one cryptocurrency that’s dominant or has the predominant market share. But I think there will be a place for multiple and many types of cryptocurrencies in the market right. From privacy coins to you know coins and tokens that provide a platform to build applications. All of this is going to happen, but mark my words, there’s going to be a very, very large displacement of fiat currency being put into cryptocurrency. And that is going to devalue the dollar and other fiat currencies. It’s going to devalue it by hyperinflation. Hyperinflation is going to kick in; the value of cryptocurrency is going to go up as people start to realize that this transition is real, that it’s happening that people are moving away from fiat and into cryptocurrency. It’s going to have a snowball effect right. It going to increase and increase, increase, increase and as it gains acceleration, as it gains momentum and accelerates up. It’s only going to gain more and more momentum. It’s going to be publicized the more, it’s going to be talked about in the media more you know more businesses are going to be talking about it and getting into it and investing into it. Financial institutions are going to start getting into it, and it’s going to snowball out of control. This is going to have a profound effect on the US economy, on the world economy. And I hope you guys are ready, because what is taking place it’s clear as day. I’m going to make another video after this that shows you why this is clear as day. It’s happening in front of our eyes. It’s happening relatively quickly although; it’s not always on the mainstream news and mainstream media. It is happening and I’m going to show you here in the next video that I make guys. So, stay tuned let me know your thoughts. I’d love to know if you agree with this disagree with this. What do you think is going to happen? How is this all going to really turn out in the end? Or banks going to disappear, government’s going to disappear? I don’t know. I don’t think that’s going to happen, but they will change. Government’s function is going to change. Central’s functions are going to change regular banks are going to change. Their functions are going to change. They’re not going to go away but, they are going to dramatically be disrupted and they’re going to completely change the nature of what they do, how they handle it, what they can and can’t have access to so forth and so on. Anyway I’m Dan from cryptocamacho.com love to know what you think about this guys. Subscribe to my YouTube channel by clicking on that little red button below and I’ll talk to you next time.

 

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This Sliding Bar can be switched on or off in theme options, and can take any widget you throw at it or even fill it with your custom HTML Code. Its perfect for grabbing the attention of your viewers. Choose between 1, 2, 3 or 4 columns, set the background color, widget divider color, activate transparency, a top border or fully disable it on desktop and mobile.