Sirwin
Sirwin
crystal ball

Everybody Has Crypto Industry Predictions ~ These Are Mine

By cmoneyspinner | CryptoBloglines | 7 Feb 2023


This article started out as a brief comment on an excellent article written by Drake Flyer. But when your thoughts keep getting longer and longer, you realize they should not get buried in a Comments box. Then you decide to share your observations (and humor) with others by writing an article, in response to the article.

Mr. Flyer predicts Three Possible Crypto Futures.

Future 1: Cryptocurrencies go mainstream and replace fiat

Future 2: Cryptocurrencies become obsolete and fade into the background

Future 3: Governments take control and regulate cryptocurrencies

I agree that those are possibilities. However, when I look into my crystal ball, this is what I see.

  • Future 1: Crypto will NEVER replace fiat. As long as there are people like Warren Buffet and Bill Gates who say crypto is a fad or fake money, and influence others, fiat will remain. By the same token, there are many influential people in the world of business and finance and other fields of endeavor who suppport the use of crypto. They have just as many followers as Messieurs Buffet and Gates (if not more). The dividing line between these two opposing views has been drawn. But I choose to believe the dividing line will one day be erased. I also choose to believe that crypto, fiat, and gold will coexist and will be extremely important for a healthy economy.
  • Future 2: Crypto will NEVER become obsolete. Even though crypto was first introduced to the world in 2009 I did not discover it until 2017. Even with being late to the party, I have to say that I'm having an awesome time partying! As long as the average man or woman (like me) figures out "practical uses" for crypto, it's not going away! When you hear about people buying real estate and paying medical bills, there is an incentive for common ordinary people to NOT make crypto obsolete. From my own personal experience, earning crypto helped me to pay off bills. Most wealthy people can disregard crypto because they already own real estate, and can pay medical bills or other debts. Ordinary people like me will choose to IGNORE them. Hey! You don't have to be rich to think for yourself. Additionally, ordinary folks will do their best to RESIST government efforts to ban or abolish cryptocurrency. I can give you a real-life example. They said that China banned crypto mining. I live in Texas USA, a crypto-friendly state. After I heard about the Chinese government making its move, I also heard about a Chinese company moving its crypto operations to Texas. You tell me. What use was the government ban? Unless that was really the true intent of the Chinese government. To get a Chinese company to set up operations in the USA. That's plausible. Hmmm??  But the point is that if a government bans something, usually people with the resources just go and set up shop elsewhere. One final note: Even though there have been several scams and scandals, people still are not willing to give up hope!
  • Future 3: As for governments taking control and regulating cryptocurrencies? Yeah. Uhhh … I'm sure that's on their wishlist. But if I were the genie I would NOT grant that wish! LOL.

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A couple of postscripts before concluding.

Postscript 1: In the interest of fair, honest, and objective writing, reading the headlines regarding crypto activity in Texas can be kind of funny.

One article in the Texas Tribune, dated October 2022 said Cryptocurrency miners line up to come to Texas, and rural counties are welcoming them. The very next month, November 2022, another article published by Bloomberg said Texas Crypto Mining Boom Is Starting to Look More Like a Bust.

I'm like: For crying out loud! It hasn't even been a month!

What's even funnier? There was a CoinDesk article dated August 2022 BEFORE those two articles and it said The End of the Texas Bitcoin Mining Gold Rush.  Texas has sort of been having problems with the electric grid.  "The state’s grid operator, the Electric Reliability Council of Texas, or Ercot, has slowed issuance of new permits for miners to connect to the grid, said Steve Kinard, director of bitcoin mining analytics at the Texas Blockchain Council (TBC), an industry association. Ercot is trying to balance the state’s demand and supply of electricity."  Good grief!  It slowed.  Not STOPPED!  It's a challenge.  Not The End.

I know you have to DYOR (Do Your Own Research). But sometimes the research results can be a tad bit confusing. Nevertheless, DGU! (Don't give up!) Just tread carefully when you research and look for the light at the end of the tunnel.

Postcript 2: I am not a financial analyst or advisor. Please do not rely on my writing to make decisions regarding your finances. These are just my opinions and observations (and wishes).

Thanks for reading.

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cmoneyspinner
cmoneyspinner

Freelancer since 2007. Always looking for various ways to make money online.


CryptoBloglines
CryptoBloglines

Freelance work-at-home professional since 2007. Blogger, article writer, affiliate marketer, and crypto enthusiast. Enjoy publishing content on a wide range of topics. Bloglines is mainly for crypto-related content. Happy to be a part of the Publish0X team.

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