No, not until quantum computing is perfected at least.
That's because:
1) Crypto is not really crypto. With blockchains, there's a trail and when there's a trail, there's an end to the trail: You. Anyone who wants to know who you are will figure out who you are. In other words, "Crypto is not really crypto."
Case in point: https://www.nytimes.com/2021/06/09/technology/bitcoin-untraceable-pipeline-ransomware.html TITLE: Pipeline Investigation Upends Idea That Bitcoin Is Untraceable SUBTITLE: The F. B. I.’s recovery of Bitcoins paid in the Colonial Pipeline ransomware attack showed cryptocurrencies are not as hard to track as it might seem. ... Last August, the department also unsealed a complaint outing North Korean hackers who stole $28.7 million of cryptocurrency from a cryptocurrency exchange, and then laundered the proceeds through Chinese cryptocurrency laundering services. The F. B. I. traced the funds to 280 cryptocurrency wallets and their owners.
In the end, “cryptocurrencies are actually more transparent than most other forms of value transfer,” said Madeleine Kennedy, a spokeswoman for Chainalysis, the start-up that traces cryptocurrency payments. “Certainly more transparent than cash.”
BOTTOMLINE: If you don't want people to know who you are when you buy or sell stuff, use cash - the original cryptocurrency.
2) Article I, Section 8, Clause 5 of the US Constitution: Article I, Section 8, Clause 5:
[The Congress shall have Power. . . ] To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; . . .
The power to coin money and regulate the value thereof has been broadly construed to authorize regulation of every phase of the subject of currency. Congress may charter banks and endow them with the right to issue circulating notes, and it may restrain the circulation of notes not issued under its own authority. To this end it may impose a prohibitive tax upon the circulation of the notes of state banks or of municipal corporations. It may require the surrender of gold coin and of gold certificates in exchange for other currency not redeemable in gold. A plaintiff who sought payment for the gold coin and certificates thus surrendered in an amount measured by the higher market value of gold was denied recovery on the ground that he had not proved that he would suffer any actual loss by being compelled to accept an equivalent amount of other currency. Inasmuch as every contract for the payment of money, simply, is necessarily subject to the constitutional power of the government over the currency, whatever that power may be, and the obligation of the parties is, therefore, assumed with reference to that power, the Supreme Court sustained the power of Congress to make Treasury notes legal tender in satisfaction of antecedent debts, and, many years later, to abrogate the clauses in private contracts calling for payment in gold coin, even though such contracts were executed before the legislation was passed. The power to coin money also imports authority to maintain such coinage as a medium of exchange at home, and to forbid its diversion to other uses by defacement, melting or exportation.
BOTTOMLINE: In the US Constitution, Congress has the power to control all aspects of currency. Once Congress makes cryptocurrencies illegal, then they are illegal and worthless. And that will happen because it is just a matter of time.
3) Cryptocurrencies are a form of vaporware. People are always asking how much is Ethereum or Bitcoin worth today in terms of dollars. Why? Because DOLLARS are what really matters! No one asks what the rate of Dollars or Ethereum are in Bitcoin, because, at the end of the day, real people on the front lines of life need real money to buy real things. Vapor money doesn't really buy anything real.
4) Sooner or later, a newer and "better" cryptocurrency will arise making your cryptocurrency worthless. Like MySpace became when Facebook arose. ======== As for NFTs, that's just a waste of money and that's easy to understand why. Suppose I create a piece of art. I digitize the art and NFT it. What's to stop me from making another digitized copy and then NFTing that separately? In other words, there's nothing really unique about it. It's a fad that will be used in business schools to teach the "Bigger Fool Theory".
https://www.wsj.com/articles/i-gave-my-mom-a-crypto-wallet-a-simple-guide-to-nfts-blockchain-and-more-11639404001?st=u3gwpox8qkhy7fz&reflink=desktopwebshare_permalink TITLE: I Gave My Mom a Crypto Wallet: A Simple Guide to NFTs, Blockchain and More SUBTITLE: If you wince when you hear the term ‘nonfungible token,’ fear not. We created an NFT to help explain this whole crypto revolution in a clear, easy-to-understand way. ... In the video for the article: Daughter (off-camera): [I gave Mom her new NFT of my son's art.] Mom: "What in the world..." Daughter: "This is your crypto wallet which inside it has an NFT made by your grandson." Mom: "Why would I want this?"
That's all you need to know. At the end of the day, real people want real things. It's not a matter of if, but of when. Sooner or later, you become old enough to immediately recognize bullshit... and NFTs are bullshit.
I forgot to give the source of that Constitutional excerpt and analysis. It's from Congress's website on the Constitution. constitution.congress.gov/.../
HAHAHAHAHA!!! ... No. NFT's won't even be popular by the end of this year. And most cryptocurrencies have already been revealed to be scams. Especially dogecoin. But NFT's are the funniest scam ever. Even when I first heard of them, I knew they were a scam. "How TF can something digital have value? It's just zeros and ones! You can literally make an infinite amount of them!"
Crypto is risky and takes so much energy to securely manage. Traditional money is not going to disappear, although electronic transactions will mostly replace cash; in some places, it already has.
Crypto will exist but the world economy will still use hard currency as its basis.
Decentralized finance (defi) probably is the way of the future, though that doesn't automatically translate to cryptocurrencies being great investments. NFTs are a joke.
Its a huge scam but still people is making money out of it but its not secure thing you could lose all your money ig i will stay in the normal old school us stocks
It is a pretty transparent attempt to privatize the printing of currency. Without checks and balances it will come crashing down eventually or enable the collapse of civilization. I guess we'll see..
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