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Re: Why I think the crypto market will be worth about $6 trillion by 2019
by
HeRetiK
on 28/01/2018, 15:41:01 UTC
Here's why I think $6 trillion is completely reasonable:
1. Wall Street hasn't jumped in yet.

Not sure about that, it does seem like parts of Wall Street already have skin in the game. However institutional investors are still missing. I don't expect them to enter the market until the market cap and price stability has increased though. Once they're in we would have a pretty solid price base.


2. Big business still has its toes in the water.
3. There's widespread and mainstream awareness,  but very little mainstream adoption.

Fully agreed.


4. We're going to see at least one governments currency collapse soon, with that nation switching to cryptos. That will begin a widespread acceptance of cryptos as legitimate.

I don't see this happening anytime soon. Government currency collapse maybe, but I think an official switch to cryptos is rather unlikely. I could see unofficial use of cryptocurrencies by the general populace though, however not until transaction fees have been curbed by improved scalability.


5. The trend in the general population is anti central authority aka. big banks, governments, big corporations. Look at brexit, Trump, the rise of nationalism against the EU, etc.  Cryptocurrencies are the embodiment of anti authority and giving the people more control over their wealth. [...]

Voting for Trump to fight the establishment is like buying into Ripple as a cryptocurrency. It may seem like a good idea to some, but is ultimately a misled approach at solving a misunderstood problem.

Personal convictions aside, I see very little anti authoritarian and decentralized thinking in the world. Otherwise people would actually move away from all the central authorities that dominate their lifes instead of complaining about politics by posting on Facebook from their iPhones that they paid for with their VISA when they bought it from Amazon. If anything the rise of nationalism has shown that the world has become more conservative and protectionist.