Leave your opinions and arguments about Dogecoin, bitcoin and Ethereum in the comments below
Dogecoin, Bitcoin & Ethereum taking over in 2021? WE THINK NOT. We think the blockchain technology and cryptocurrency will eventually be globally adopted over 30 to 50 years.
- Currently around 1% of the world’s population owns Bitcoin
- Currently around 20% of the world is holding a certain type of crypto
Bitcoin is currently the most popular crypto currency, which means that every other crypto coin or ”alt” coin has a global ownership percentage of around 1% or less. In this blog post, we will see if Dogecoin, Bitcoin & Ethereum will take over the world? We will give our answer and explain why.
Disclaimer
So what?
So only a small percentage of humans on earth will be owning cryptocurrency, and if it was to take over, there would be a huge imbalance in wealth distribution. The technology blockchain is massively useful in different ways like it being decentralized (anyone has access to it), transparent, almost ”fully secured”.
So what’s the downside?
- Anyone can see, if they choose to track you, where and what you use the blockchain for.
- All the cryptocurrencies simply utilize the blockchain technology, they do not actually create any sort of value.
- A lot of people think that the value comes from nothing, however it is perceived value that is rising and what people are spending in return for that perceived value.
- Cryptocurrencies are only transferring wealth from someone that owns cryptocurrency to someone that uses a fiat currency (dollar, euro, yen etc)
- Cryptocurrency is taking more that it is giving, and this is unstainable. Cryptocurrency takes up a lot of energy, if everyone wanted to switch to crypto right now, the world simply just can’t handle it.
- If you have no internet, or if everything suddenly gets wiped, you basically have nothing. Crypto currencies are basically backed by nothing, only the hopes and dreams of millions of people.
This is not to say that crypto is completely useless. People will and are currently already utilizing it, the latest utilization being NFT’s /digital creations and European banks. However when you exchange your cryptocurrency for a tangible or digital product, you receive value in what it is that you want.
On the other side the person that receives the cryptocurrency, receives a hope that they can trust that the currency they just obtained, doesn’t go down in value or become obsolete. You can make this argument for any other currency (including fiat) or when exchanging one physical product for another in bartering. So it basically comes down to this, people will only mass adopt crypto, if the masses trust it as a value that they can exchange and rely on the fact that he value doesn’t permanently or temporarily long-term decrease in value.
The trust is so minimum and fragile at the moment, that any small thing could tumble.
Most popular uses for crypto currency at the moment
Luvioni has personally tested both of these uses, and we have to say, it’s pretty fun to interact with and pretty revolutionary in our opinion.
In this game people can literally mine NFT’s (which you can sell or collect), find collectables and earn money in different ways. You can literally go into a virtual casino and gamble with crypto currency. Pretty cool we must say.
NFT’s are the next new craze for the crypto community, here is an example of a majestic doughnut being listed for sale with a starting bid at $3201.05. Some NFT sellers, give certificates with special access to different things, these are sometimes arguably the most interesting and valuable things about NFT’s
Too many currencies around the world.
Everyone is making something so hard for something so simple. This includes traditional currencies like dollars or euros and crypto. We’ve talked about this in another blog post about universal basic income. The next step for human society to flourish, be safe, prosper & make violence obsolete is that everyone is able to communicate in the same language. People communicating in the same language is already happening up to a certain extent with English, accelerated due to the recent pandemic.
The other thing to propel human civilization forward is one currency for all earthlings, even better, one currency for the whole Universe. There are about 180 currencies in the world at the moment, this is excluding crypto currency as it is at an astounding 4,000 plus at the moment. Yes this new type of currency has exceeded the tradition currency amount, which is making things even more chaotic, instead of focusing on one currency. This amount of currency differences around the world can have the potential of setting human evolution & social progress & technological progress by hundreds of years.
By having so many different types of currencies floating around, you are not only decreasing the value of monetary value exchange around the world, you are actually spending more, in turn creating more inflation while people buying Bitcoin, Dogecoin or Ethereum are thinking they are running away from inflation.
In fact (or atleast) theoretically by having less different types of currencies floating around, or even better just one, the global GDP can rise by 10 to 20 trillion US dollars. This would mean an increase in quality of life for all humans around the globe.
Global equally valued currency is more likely
A global equally valued currency is the most likely outcome, but which one is it going to be? I think a lot of people holding Dogecoin, Bitcoin or Ethereum would certainly like it to be one of these currency, but the reality and sad truth for most people is probably not, and this is with a 99.99% certainty.
Yes, change is happening very fast, but that doesn’t mean that these cryptocurrencies that have existed for only 12 years. Trust in a certain currency, country or government, takes years, sweat, blood and war to properly establish.
So what has the highest chance of becoming the global currency of the future?
It is going to be some form of dollar or some form of euro.
USD COIN (not an official currency by a central bank)
Digital Euro (official currency in 2021 by a central bank)
So why do we think it is going to be some form of dollar or the Euro? One is more likely than the other.
The dollar is currently the most traded currency in the world and is also considered the reserve currency of the world.
The US dollar is also considered the currency of the Internet but only around 12 countries including the US uses the currency as their official currency.
Even though the official use of the currency is lower than the Euro, a lot of countries accept the dollar currency as a form of payment as it is still a valuable currency to have.
However the Dollar is only considered to be in position 10 of the strongest/most valuable currency in the world.
The Euro is currently officially the most widely used ‘official currency’ in the world, being used by 19 different countries in the world. The Euro is also the second most traded currency in the world.
You can currently use the Euro in Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Portugal, Slovakia, Slovenia and Spain.
With this being said , there are countries that are not on that list that still accept the Euro as a form of payment currency.
This has benefits in terms of rights, laws/regulations etc. if it were to be converted in to the world currency as there would be less of a major global alteration.
Europe is so ahead, that it is planning on releasing the official Digital Euro in mid 2021, as they have come to terms that cash is barely being used.
SO JUST TELL ME, WHAT IS GOING TO HAPPEN?
The Pound Sterling (Great British Pound) is the oldest currency in circulation and is considered stronger than the Dollar and the Euro. Because of BREXIT, we don’t think the UK would want to work with Europe so closely again any time soon. The British pound is however not as popular as the Dollar and the Euro.
Seeing that the English language is one of the most used language of the world, and is considered the global language, especially amongst international business men and women.
But then what is the solution?
We think the leaders of the world with the strongest currencies will meet up, this means Asia, especially Japan with their Yen, The United States with their Dollars and the European Union with their Euro.
They will join together to make one great global currency, perhaps with blockchain technology completely decentralized, the way the crypto fanatics like it. When we do this the world will change dramatically, and be almost unrecognizable, in a positive way.
The Great Global Pound
Taxes, will become more simpler, violence will reduce, foreign exchange will seize to exist, motivating people to get up from their butts and go do something different & fun to earn money.
MOST IMPORTANTLY THE QUALITY OF LIFE for everyone WILL IMPROVE DRAMATICALLY in the long-run, however this depends of course on how the ”The Great Global Pound” will be implemented. Keep in mind that a lot of coutnries and leaders around the world carry a lot of pride and there is a lot of greed when talking about money in general.
There will be a time frame set, of when you can exchange your current currency for the new global currency. If you are close to the dollar, Euro or Pound Sterling, you will notice the least effect. Of course people with millions or billions of dollars will be noticing a huge difference, however this is relative as the values will all be consolidated. This means that a Billionaire might still be able the same amount of things when converting their currency to ”The Great Global Pound”, same goes for a person that only has a few thousand in their bank account.
The truth is because all currencies will be worth the same amount of value, people in poverty or less might feel more like middle class and people in middle class will feel more like upper class.
So if there is a global currency coming up, what will happen with Dogecoin?
Let’s just say, if we are saying that Bitcoin, Ethereum, the Dollar, the Euro and the oldest living currency, the Great British Pound will become obsolete. Just be careful where you put your money, as it might work out short term, but old currencies like The Great British Pound have survived War & Depression & Recessions for a reason. Maybe Elon Musk will do or say something crazy on Saturday Night Live that will change everything. But science, history, economics and human phycology are far more complicated than anyone or any expert can ever predict with a 100% accuracy.
If you like this post, you will probably like our other post talking about sustainable financing.
