It may surprise you, that one asset right now has the potential to be worth an insane amount of money. In fact when bitcoin was first discovered it was only worth mere pennies. Fast forward and that same amount of bitcoin is worth around $18,000.
There is a big possibility that it doesn’t stop there and continues to rise in value. As world governments and central banks continue to devalue their currency due to quantitative easing. The take away from all of this isn’t can bitcoin go to 100 million but rather, can the US central bank inflate the dollar to 100 million.
Hyperbitcoinization is a state in which bitcoin is expected to become the world’s dominant form of money. The fact that the digital currency is socially wired should work to its advantage when it comes to exponential adoption.
Bitcoin, or Bitcoin Cash, is on its way to world dominion, and any currency that stands in its way will experience demonetization or Hyperbitcoinization. Those are the sentiments held by Daniel Krawisz, Director of Research at Satoshi Nakamoto Institute.
Cryptocurrencies enthusiasts expect bitcoin/bitcoin cash (or an alternative crypto coin) to displace legacy currencies and become the only method of value exchange. With Hyperbitcoinization, Bitcoin/bitcoin cash should change people’s relationship with money. The fact that people will own their money and be in total control of its value is seen as one of the attributes that will make most people shun fiat currencies.
Central Bank machinations should end as more people join the cryptocurrency bandwagon. The dominant cryptocurrency might reframe citizen’s roles in a borderless, global economy. The virtual currency should become the world’s first universal currency in part because of voluntary social drivers and its inherent social drivers.
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