Hey guys, today my friend Jeff Walburn and I are discussing something really interesting. We are talking about Cryptocurrency. Specifically, we are debating whether or not we think it will be the main currency that people use in the future. Watch today’s video to find out what we think.
Tom: “Do you think crypto or some other kind of digital currency will become the main currency in the future?”
Jeff: “Me personally? No. If I were to take 3 bitcoins, let’s say that’s $300,000. If I were to go trade a bitcoin to you in Canada, what could you buy over there with 3 bitcoin compared to what I could buy here in the US? What happens if you were to convert it into Canadian dollars?”
Tom: “It would be worth 2% less. I think the system that we currently have for finance does not mesh with crypto. I think that, from everything that you’re saying, until crypto is stable, it won’t work.”
In the extended podcast, Jeff points out that there is no need for a new currency to take the place of the US dollar. He also points out that the establishments in charge do not want something to take the place of the US dollar. They already have a stable currency that they are able to predict and control to a certain extent. They don’t want something that they would have a more difficult time controlling to take the place of the US dollar. This makes it even less likely that crypto will become the main currency in the future, even if it does become more stable. It’s an unnecessary change.
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