Get ready for a world currency - Economist 1988

The Economist 1 Sep 1988

"THIRTY years from now, Americans, Japanese, Europeans, and people in many other rich countries, and some relatively poor ones will probably be paying for their shopping with the same currency. Prices will be quoted not in dollars, yen or D-marks but in, let’s say, the phoenix. The phoenix will be favoured by companies and shoppers because it will be more convenient than today’s national currencies, which by then will seem a quaint cause of much disruption to economic life in the last twentieth century..."

Bitcoin? Ripple(xrp)? Etherium? I suppose the Euro went on to do some of this.

socioecohistory.wordpress.com/2014/07/26...-economist-magazine/

Lots of talk about this. Go on youtube and search for Dollar Vigilante....

The total value of all cryptocurrencies passed $1 trillion Wednesday for the first time ever - CoinGecko


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Mac wrote: The total value of all cryptocurrencies passed $1 trillion Wednesday for the first time ever - CoinGecko


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And BTC passed &1trillion market cap on its own..... has subsequently pulled back.

The total market capitalisation of all crypto’s is now $2.2 trillion. Coingecko.


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My skepticism about cryptocurrencies is that there is nothing tangible linked to it and there is no income stream...the increase in value is driven by speculation that government debt will implode rendering currencies worthless thus creating demand for alternatives ie. cryptocurrencies...much of the price movement is driven purely by the fear of missing out and some-one out there ascribing a higher price (on what basis I cannot understand) than the previous buyer...

To fellow Clanners that have got in and made paper gains, well done to you...

TNaicker wrote: My skepticism about cryptocurrencies is that there is nothing tangible linked to it and there is no income stream...the increase in value is driven by speculation that government debt will implode rendering currencies worthless thus creating demand for alternatives ie. cryptocurrencies...much of the price movement is driven purely by the fear of missing out and some-one out there ascribing a higher price (on what basis I cannot understand) than the previous buyer...

To fellow Clanners that have got in and made paper gains, well done to you...

No Sir ( and Mr Hawaii) that is not the case. Not by a very long way. There is an entire financial revolution going on right in front of your eyes... it is possible to invest and received fixed returns, purchase everyday assets as well as airline tickets, hotels etc, using crypto debit cards.

Many countries and Central Banks are rushing to 'digitalize' their currency in response to the current digital asset movement

Use a search engine, preferably 'presearch.org' or 'duckduckgo' for the term "DeFi" and go down the rabbit hole.

decrypt.co/47061/public-companies-biggest-bitcoin-portfolios

www.bitkom.org/sites/default/files/2020-...tralized-finance.pdf (A bit outdated, DeFi has more than $64 Billion locked away in investments, loans and staking)

Decentralized finance is a blockchain-based form of finance that does not rely on central financial intermediaries such as brokerages, exchanges, or banks to offer traditional financial instruments, and instead utilizes smart contracts on blockchains, the most common being Ethereum. DeFi platforms allow people to lend or borrow funds from others, speculate on price movements on a range of assets using derivatives, trade cryptocurrencies, insure against risks, and earn interest in savings-like accounts.