Re: Will blockchain survive the crackdown on mixers and anonymization?
No cryptocurrency will ever come even close to scaling to the billions of transactions each day by people worldwide.
That's a bold statement. You can't possibly know that. We're not talking about the next 10 years, but ever.
The laws haven't changed in the last 14 years and they aren't going to change in the next 140
. Bitcoin was designed intentionally to be slow and expensive e.g. PoW. If it was easy/fast/cheap to create a node and certify transactions, the paradigm would fail. Quote
How do you know what people will use for currency in 2050, or 2150?
IMO it's not going to be fiat currency and if not that then what? Maybe we'll be mostly extinct and back to trading seashells and amber, but if not we'll not use currency printed by FED.
IMO it's not going to be fiat currency and if not that then what? Maybe we'll be mostly extinct and back to trading seashells and amber, but if not we'll not use currency printed by FED.
I think the world will almost entirely stop using physical paper and metal currencies in the next 20 years. I think they be replaced by digital currencies. I think those currencies will not be powered by a blockchain-based architecture.
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There will not be any FED, I'm pretty sure of that.
The FED will be just fine. They don't care how the money is transmitted, they just trade in value. Maybe you are thinking about the US Mint and the Bureau of Engraving? Those departments probably will shrink to almost nothing.
And as we discussed in another thread, I think the USD will stay around forever in the same way that the English language and the Metric System will stay around forever, e.g. as a measurement mechanism for value. People will stop holding physical paper and metal coins, and people will not store their savings in actual USD as much, and people will use various digital currencies to trade, but the USD as a concept will stay around forever, more or less. Even if we're trading seashells and amber, the value of those things will be translated to USD so people know how much value it is.
Quite the contrary, my 100 year prediction is that all other sovereign currencies fall by the wayside and only USD stays around, and only then as a measurement device so you'd pay for everything the world denominated in USD, and all digital currencies will have a USD exchange rate which most people won't even see because it's hidden from them by the software.
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I don't think that there's any danger to bitcoin. The only danger is that there will be no anonymity, but for that to happen they'll first need to ban cash.
I don't think so either, and I've needed to qualify my original OP to say that by "survive" I mean "still be the biggest thing in digital currency". I think it will "survive" in the same way IBM mainframes have "survived". There's no reason people won't be trading Bitcoin forever. It's just that the ubiquitous means of digital transfer e.g. a digital currency that everybody uses on a daily basis will be some other non-blockchain-based thing.