Fiat vs Cryptocurrency: Pros and Cons



While some early adapters may not need convincing to join the cryptocurrency craze, others are left wondering, what exactly is it good for? I can’t put it in my bank, I can’t use it at (most) stores, what can I do with cryptocurrencies? Before we get into the ins and outs of cryptocurrency and how it can be used, first let’s look at some of the similarities and differences between fiat and cryptocurrency.

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Ryan Van Wagenen discusses how cryptocurrency will play into digital currency going forward

Ryan Van Wagenen 7

Ryan Van Wagenen has been with Global Private Equity for nearly a decade and is no stranger to the cryptocurrency movement. Since being promoted to Director within GPE in 2011, Van Wagenen has been covering the firm’s technology coverage and has seen a lot of growth in the sector. The question one must ask about crypto is what role it will play in digital currency going forward.

The crypto market that trades diverse virtual coins can look scary, exciting, as well as mysterious most especially to the casual observer. Bitcoin is the pioneer in cryptocurrency. It drastically surged in price and steeply gone down recently. Initial Coin Offerings or ICO for short in the meantime is emerging at a remarkable rate.

On one end, there are positive bulls and on the other extreme bears like Harvard Economist Kenneth Rogoff who is calling for the fall of Bitcoin and other cryptocurrency. Despite the fact that a number of monetary advisers all over the world remain dubious and doubtful, it is hard to take for granted the remarkable amount of money invested in this kind of currency. Two premier futurists, study and forecast technology trends regarding where they see virtual currency headed and why you must be aware of it.

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The dollar will be replaced by gold and cryptocurrency by 2040

Fiat money will lose its significance to gold and the cryptocurrencies in the next twenty years, said Robert Kiyosaki, bestselling author of “Rich Dad Poor Dad” and his latest ,”Why The Rich Are Getting Richer.”

The self-proclaimed gold bug is one of few investors to be bullish on both bitcoin and gold, noting that the cryptocurrency will slowly erode fiat currencies’ relevance, while gold will act as an important hedge instrument.

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