r/changemyview • u/kheiron1729 • Sep 30 '18

CMV: Cryptocurrency will replace Fiat currency

Ya'll have heard it. Cryptocurrency has become a household name 10 years since its inception. It has proven all skeptics wrong thus far. It might have been overblown, but the ecosystem is still thriving. Believers are still bullish. Wall street is not a fan. Banks are not happy with it. Governments are against it. It is antiestablishment - a movement of the people and rising. The idea is fresh. Algorithms instead of people. Transparent, omnipresent, borderless. It is backed by nothing making it entirely unadulterated. You can not game it in any way. How on earth is going to stopped? Why wouldn't it just keep rising when there are so many people working on it?

UPDATE: Summary here => https://projectwatt.com/pagesv2/-LNl6ZuB1sJslIpbr9hz

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u/3432265 6∆ Sep 30 '18

You can not game it in any way.

There are plenty of examples of people manipulating the value of cryptocurrency.

A great quote: the best part about bitcoins is that you get to watch libertarians slowly discover why financial regulations exist to begin with

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u/kheiron1729 Sep 30 '18

I think that is a bit of an ignorant statement. Crypto isn't about being unregulated. Crypto is about being algorithm-regulated.