Was just hanging with a bunch of family office investors; topic of discussion: how many of the +/-1800 cryptocurrencies will still be in existence in 7-10 years. Consensus hovered 5% or lower. Just giving you all a temperature gauge out there.
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Replying to @MustStopMurad @DavidJN79
Maybe .1 of "existing" coins still in existence but, there will be there many more that will replace them and still be in use
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I believe in the long run there will only be one global monetary standard.
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Replying to @MustStopMurad @DavidJN79
If you are using the definition of crypto as only referring to money then maybe, but the more general version of crypto being used for utility tokens will remain. I think over the long term there will be many cases and uses for utility tokens
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And I think the Central Bank will try to control money but... money as we know it will be changed, the token economy could take us back to a type of barter system and real assets will be used as money, like you see when currencies collapse like in Venezuela or Zimbabwe
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I see utility tokens akin to Starbucks points and Airline Miles. Insignificant. We will NOT have a world with 10,000+ currencies or tokens. That is NO different to barter -- the very thing money is supposed to eliminate. Horrible UX with Horrible Frictions.
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Replying to @MustStopMurad @DavidJN79
I agree the friction of trying to exchange 1000's of coins is too high, but solutions will come to make this seamless, and will unlock value from Siloed accts like airline miles and unused computing power,
$OMG is working on this and other solutions like$AION could also help1 reply 0 retweets 0 likes
I believe there may be dozens of cryptoassets, but due to extremely high velocity they will accrue very little value, because there is no need to hold them. The only thing that will accrue value is something people hold on to for months and even years. Something Central Banks buy
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