How long do you predict it will take for the day-to-day volume of crypto assets to surpass that of fiat currencies?
IF the blockchain succeeds, I wouldn't expect to see a potential flippening to happen before 2025-2030. The current level of real world usage for the blockchain is very similar to that of Graphene - "Graphene can do just about anything, except leave the lab".
To use some analogy, Graphene and the Blockchain tech can both do a lot of wonderful things - both are wonder technologies with extremely high potential applications. With both Graphene and Crypto currencies, we know that the underlying potential is huge. However, the challenges are also there. First, you have to come up with a way to use these properties for beneficial applications. Then, you have to scale fast enough while keeping it low cost, which so far hasn't been the case for most cryptos including bitcoin(tx fees,scaling issues) or graphene(high costs for large scale productions).
Even though none of us currently use crypto for day-to-day purchases, the market cap is very high - which is all due to pure speculation, or what I would call, emerging market value. Its the market that determines ubiquity or obscurity of technology, and it does not care how a technology works; it cares about what problems that technology solves.
If the blockchain tech succeeds in solving the issues facing fiat currencies both physical and digital, one thing is certain. The market cap will grow hundredfold, and it's going to imitate the stock market as a device for transferring money from the impatient to the patient. So HODL
IF the blockchain succeeds, I wouldn't expect to see a potential flippening to happen before 2025-2030. The current level of real world usage for the blockchain is very similar to that of Graphene - "Graphene can do just about anything, except leave the lab".
To use some analogy, Graphene and the Blockchain tech can both do a lot of wonderful things - both are wonder technologies with extremely high potential applications. With both Graphene and Crypto currencies, we know that the underlying potential is huge. However, the challenges are also there. First, you have to come up with a way to use these properties for beneficial applications. Then, you have to scale fast enough while keeping it low cost, which so far hasn't been the case for most cryptos including bitcoin(tx fees,scaling issues) or graphene(high costs for large scale productions).
Even though none of us currently use crypto for day-to-day purchases, the market cap is very high - which is all due to pure speculation, or what I would call, emerging market value. Its the market that determines ubiquity or obscurity of technology, and it does not care how a technology works; it cares about what problems that technology solves.
If the blockchain tech succeeds in solving the issues facing fiat currencies both physical and digital, one thing is certain. The market cap will grow hundredfold, and it's going to imitate the stock market as a device for transferring money from the impatient to the patient. So HODL
I noticed Graphene. But I didn't quite understand. What did you mean by the similarity between Graphene and Blockchain? And what exactly is this Graphene?
Graphene is another carbon form or carbon fiber composed of one layer of carbon atoms and arranged in a honeycomb lattice. This is a new technology in the chemical industry that is now on the rise. Graphene is also called magical material.
The first application of graphene will be used to replace indium selenide in solar cells and there are still many other uses of graphene. This material and technology is relatively new and is now receiving great attention from researchers, just like the blockchain (The same in new technology but different fields).
This Link will explain the Graphene generally: https://en.wikipedia.org/wiki/Graphene