When you bear in mind that so-called cryptocurrencies have been dismissed as worthless time and time again by the establishment, governments around the world are certainly doing their best to bury these digital currencies. However, are cryptocurrencies simply a useful tool with which to attack the establishment?
I think that initially cryptocurrencies were seen as a way to fight back against the establishment but things have moved on since then. They are now under intense scrutiny and have become the focal point of many short term investors looking to bag some profits. Do they have a long term future? I think they do.....anyone else got a view?
Financial markets are ruthless and they will eventually pick the weaker cryptocurrencies apart which should leave the stronger (asset backed ones?) to have a clear run at a long term future.
The question is how can the money supply be efficiently controlled when the Fed itself doesn’t know how much money is in circulation (as I’ve stated above, this relates to the M3 money supply)? This is exactly why the Fed’s economic forecasts have been off for the last 10 years as well as why they’ve been unable to adequately conduct monetary policy. In other words, the Fed has become less efficient at its job and the supply of dollars has slipped form their control. When I learn currency trading it took me a while to understand why a coin goes up and down. But few explain me clearly because Bitcoin rises if there is no one who controls it Crypto-analysts claim that during the next US crisis, not only will global investors shift towards cryptocurrencies (i.e. the dollar will lose its status as a safe haven and become a high-risk, unreliable asset), but American citizens will also look to exchange their dollars for crypto, bringing about a total collapse of the US dollar.
I’m interested in the concept of a flight to cryptocurrencies in the future to the detriment of the dollar which has for many years now been seen as something of a safe haven. How would that work?
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