Cryptocurrencies Will Replace Fiat By 2030, International Blockchain Speaker Claims
Nicholas Merten, the founder of DataDash, the largest cryptocurrency YouTube channel with over 316,000 subscribers, recently noted that crypto will have “four major cycles” including the “Silk Road phase” from 2011-2013, the “retail speculation” phase from 2016-2017, the “institutional speculation” phase from 2019-2020, and finally the “crypto replaces fiat” phase from 2020-2030.From what I can analyze, crypto will have four major super cycles:Silk Road (2011-2013) ☑️Retail Speculation (2016-2017) ☑️Institutional Speculation (2019-2020)Crypto Replaces Fiat (2020-2030)— Nicholas Merten (@Nicholas_Merten) November 9, 2018
According to Merten, blockchain technology and cryptocurrencies will “reshape the way we think about trust and money.”If Criminals Use It, Then It Must Be Useful
As most crypto enthusiasts would know, the now defunct Silk Road was a large online black market where people had been buying and selling controlled substances (drugs), and other types of illicit goods through the use of the pseudonymous digital currency bitcoin. Many IT analysts argue that if criminals are using your technology, then it must be useful and may also have other more legitimate use cases.
Clearly, cryptocurrencies were able to serve as an effective medium of exchange on Silk Road’s underground market.- as the US Federal Bureau of Investigation (FBI) managed to seize 144,000 bitcoins (BTC) (worth $28.5 million at the time) after cracking down on the illegal network.Silk Road Indirectly Helps Introduce Crypto To Retail Investors
Most of the cryptocurrency belonged to Dread Pirate Robers, the owner of the...