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RedDeerGuy1's avatar

What is the future of crypto digital currency?

Asked by RedDeerGuy1 (24886points) January 5th, 2022

My television news reported that the world’s super powers are considering adding digital crypto currency, as legal tender, and the main store of currency as wide spread storehouse of non-gold standard backed wealth.

Would you like to be paid in crypto currency from now on, or are you hesitant?

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6 Answers

zenvelo's avatar

There is not a consolidated “super power” thinking on cryptos. And making a fiat crypto would differ from the privately manufactured cryptos.

At the core of your question is a discussion on what is money. Money is a medium of exchange. It is also a store of value. Dollars and Euros and Rubles and Swiss Francs meet those two requirements. But bitcoins and dogecoins and ethereums are not a store ov value, and as a result tehy are not used as a medium of exchange, because one cannot predict the value of the curency from moment to moment, let alone from day to day.

So when you try to talk about a crypto dollar, you have to tell me why that differs from the dollars in my checking account that I use to pay my bills.

Roght now, cryptos are nothing more than Ponzi schemes that have almost failed but not quite yet.

JLeslie's avatar

I’m hesitant because I know nothing about it, although I keep hearing about. I haven’t taken the time to learn about it. I have friends who are making money with crypto currency, bitcoin, whatever the hell.

It all sounds like a bad idea to me, and like I said I know nothing about it, I’m just talking gut feeling. Sounds like too good to be true or let me sell you a bridge type of deal.

I’ll be interested in reading more answers.

rebbel's avatar

Simple answer is that there is no future for crypto currency, because there is no future, period.

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