I mean technically, that’s pretty much any Fiat currency. Except there you’re talking about international policy and conflict between centralized organizations, and basing the value of a currency on GDP & Market Confidence in addition to forcing other nations to utilize specific currencies to trade certain commodities.
Not to mention that there’s a scarcity quality to a fair amount of cryptocurrencies by design, in addition to crypto that is naturally lost through disasters, accidents, and deaths of people who took the keys to the grave…
With fiat however, they simply can just print more.
An evil invention was born, man discovered how to turn worthless paper into gold.
Though with crypto, it’s more like we discovered how to turn co2 emissions and burnt electricity into gold.
I mean, we could also go back to just trading in rare metals peer to peer, but then we’re back to testing the purity of metals, finding ways to secure those materials, etc. etc.
Dislosure: This is not investment advice, anything that you choose to do is at your own risk.
But personally, I think the real opportunity is going to be in the vilified privacy coins like Monero, DASH, Zcash, PVIX, GRIN, or the longshot underdog (if it’s not just a scam) Raptoreum
Bitcoin and those based on it like Ethereum have proven that decentralized currencies could be a viable future, but they leave something to be desired for the people, but what is loved by governments. Traceability.
Sure, you can launder through coin mixer services, but there’s always a visible paper trail with most cryptocurrencies. Everyone knows how much every wallet has, and what money goes where.
That’s fine if the account isn’t tied to you through associated wallets to your name or handles, but it really is a problem if the government takes issue with you.
After all, the taxman wants their cut now.
If you’re in the US, you may have noticed that the IRS had asked you on the 1040 if you possess crypto or not. It’s a legal trap if you’ve ever given your full identity to any place and actively traded, such as Coinbase, any other american company, or probably any other organization that gathers KYC (Know Your Customer) information.
Legally speaking, they’re in the right, but it’s really the government’s way of trying to take hold of something that can’t really be controlled to the extent they wish.
For example, a man in Germany. 68 Million sized by police (at the time. Now worth well over 100 million), but they can’t get to it as they don’t have the password & he has never capitulated into giving up the password.