It’s basically about balance sheets.For the past 50 years Western economics have simply consumed more than they produced and Corona was the pin that burst that bubble and showed the scale of insolvency. In my opinion we will most likely go into recession, might not be as bad and fingers crossed we don’t go into a depression… Or maybe we have to?Good or bad?If crypto is ever get mainstream adoption you quite honestly need a Blackswan event to show people this system is broken, people are corrupt and we need to look for an alternative. We are asking the public to change from the every day credit cards and cash to magic Internet money… They have never cared about money so why should they adopt BTC or crypto X? Maybe we need a crash?Things might get a lot worse before they get a lot better. History shows superior technology always prevails it’s ruthless and it destroys companies and makes new billionaires but a new currency and new store of value? These are huge shifts in the world and May require more than just years. Even if cryptocurrency could scale today and it truly was decentralised by everyone’s standards would we see any adoption? Look at nano, apparently it’s scales cheap fast and yet no demand. Are people going to educate themselves naturally over time and change from government backed fiat or do we need to force them to educate themselves via Blackswan events?What are your thoughts?
Submitted March 10, 2020 at 11:13AM
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