facebookDo you think Cryptocurrency (e.g Bitcoin, Ethereum) will ever replace Fiat currency (eg SGD, USD, YEN etc)? What situations would render it as a store of value? - Seedly

Kenneth Lou

Co-founder at Seedly

28 Oct 2019

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Cryptocurrency

Do you think Cryptocurrency (e.g Bitcoin, Ethereum) will ever replace Fiat currency (eg SGD, USD, YEN etc)? What situations would render it as a store of value?

I see that you advocate value investing. In what cases do cryptos actually allow for the similar conditions to be met for it to be treated like a 'value-stock'? Interested to hear your thoughts!

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Kelly Trinh

28 Oct 2019

Backoffice technical at financial services firm

Ng Lip Hong Kyith

07 Jun 2019

Chief Editor at Investment Moats

Hi Kenneth, as an IT guy late to this game, I think I am optimistic about a crypto as a currency. But a lot of things needs to happen.

  1. Make it a viable medium of exchange for normal day goods and services. Right now is challenging because unlike the Fiat we have now the value keeps fluctuating, it creates uncertainty in people meaningfully using it as the medium of exchange

  2. Security and trust. While the whole premise is that there are validation of the transactions and it's transparent, it's not very assuring that once I lose my wallet I will lose the money forever. I guess that's why I prefer to own businesses on stock exchange or hard assets since I can see they are tangible. Bits and bytes are rather intangible.

Having said that, in the next financial crisis, the body that bail out everyone might be the world bank.and they have talked about a pseudo currency call sovereign deposit receipts (sdr) and they are favorable of crypto.

So we might see them creating something out of it.

For what we know we still do not know the eventual form. Would it be btc or etc? It might be neither.

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Cryotosensei

06 Jun 2019

Blogger at diaperfinancingfund.blogspot.com

I confess that I donā€™t know much about cryptocurrency but I was recently asked to join Minds, which ...

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