Do you have a timeframe for when crypto could take over fiat?
Crypto Daily ..Official? I go to the other channel which has officially 100x yoir subs.
With all due respect I do not think that crypto would replace fiat at all. Martin Armstrong says it the best in his article "Have Cryptocurrencies Become a Religion?" – The likelihood of any cryptocurrency replacing the world monetary system causing governments to collapse is ZERO for decades to come. He who has the guns, tanks, and soon robot soldiers who will shoot to kill without hesitation, rules the monetary system – PERIOD!
About 2 years ago I worked with a man that Lived in Zimbabwe during the hyperinflation. He helped fill in the gaps in my understanding of what happened. The first thing that I did not understand is where did all of this money come from that destroyed there system. He explained that when the people of that country went to sleep with $100 in the bank they would wake up to $1,000 in the bank the next morning, but the $1,000 still had the same purchasing power of the $100. So the banks just added zeroes on peoples bank account. He described going to dinner one night and grabbing a hand full of Zimbabwe money and haning it over saying that looks like enough. He was able to get through his hard time because he had access to U.S dollars. He worked on a farm and he also took people out on safari hunts. The best example of what I'm talking about is a picture of 3 eggs on a table and several bills with 100 trillion $$ Zimbabwe being set down as payment. The eggs did not change but the bills did.
That's not saying that America will have the same problems. Some people might say that if you look at the price of the dollars against the value of bitcoin that a crash has already happened. You can take almost any crypto and learn the Max supply that will come online with the exception to DOGE, EHT and possibly others. We do not know the max supply of Dollars that have already printed. We can take things like M1, M2, M3 as a possible way of guesses, or we can take the U.S debt clock and guess the we have 22 trillionin dollars printed, but what about all of the 2 quadrillion dollars in derivatives that are outstanding in the global market. So buy that measurement any Crypto is currently better then the U.S Dollar. I personally like calling the U.S dollar what it really is the FED COIN.
It is said that in 2024 that every dollar that is created will be needed to pay the interest on the current debt that we have. Not sure what the source is on that but I have heard it in a couple of places. There was a interview on the X-22 spotlight by Jim Willie. He was talking about the new gold backed money that is being negotiated world wide. It does seem like a good idea to reset the Fiat currency against gold, but I do think that we will have and unofficial Crypto standard until people start having faith in this new system. I think Crypto is a way of creating a side system if the dollar dies, and this will help keep people from rioting and destroying the current power structure. I think that we will have food riots across the world in the next 18 months. We have had flooding destroying crops and crop storage in the large grain silos across America. The odd weather could be the start of a world wide food shortage. Get your food now, and you can also trade the futures market going long corn, wheat and other crops, (this is very risky) or simply buy them now at cheaper prices.
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