Imagine having USD 91 billion dollars.

This is the second time, I am writing this. Earlier I was at a cafe early in the morning eating breakfast when I read about BITCOIN's Market capitalization and Crypto Singularity.

Img Src: Screenshot from coingecko site

Bitcoin's market capitalization has currently surpassed even the economies of many small states. There is too much money invested into the crypto ecosystem for anyone to just ignore it's relevance in our world today. With new Smart future contracts being developed, it will soon rival the stock market. I am really excited at the thought of having this gut feeling that in the future, we could probably buy Apple (NASDAQ:APPL) using Cryptos. In the distant future, traders can predict the prices of different cryptocurrencies via crypto futures without the need to buy the underlying asset.

Crypto Singularity

Could this be possible that someday, Cryptos could outpace Fiats. This can only happen when there is enough Fiats that have been invested into Cryptos reducing the total amount of Fiat currencies in circulation. One of the things still that has to be addressed is the security. I myself, for one have this fear of getting my cryptos stolen by hackers. I am pretty sure that, it's a matter of time before we see a runaway growth in the adaption of Cryptos. It is just the beginning.

The millennial are coming of age. In this world, technology has always been a part of life. For most of it, the most exciting feeling of owning any cryptocurrency is the knowledge of it's value which could be intact and may be resistant to inflation but yet create growth for the economy. In the Fiat world, when the government stimulate the economy by printing more money and increasing the money supply in the system, it creates this multiplier effect. For every 1 dollar spent, it creates up to 6 X of that original value. To read more about the multiplier effect, read here. Cryptos could create more wealth as compared with FIATS. Imagine this, FIATS need to be printed, counted and accounted for, Cryptos can be created by Mining and accounted for by the bookkeepers of the whole system (THE MINERS). If I have a blockchain wallet, I could just go to a nearby supermarket and pay using Cryptos.

The youth of today prefer the feeling of freedom and reduced government interference. A decade ago, there were no such careers as a Youtubers. No one would ever believed that one day, making videos and getting views could be converted to cash. My own prediction is that, once 5G rolls out, having money becomes obsolete. Why do we need to drive all the way to a bank, deposit in our cash, then when we need to spend some cash, we have to drive all the way to the bank and queue up to withdraw some cash? ATMs may well be heading to the museum soon.

Crypto Singularity will occur when ;

1. The number of Fiats decreases relative to the value of all Crpytos
2. Decline Volatility and stabilization of major Cryptos ; I can imagine the day money replaced barter trades.
3. Banks and Crypto exchanges merge and it is easy to exchange Fiats to Cryptos
4. Improvements in the whole system which may need more time
5. Roll of 5G technology speeding the whole mining operation

img src: https://www2.educationfutures.com/john/tag/technological-singularity/

As I write, I am sitting beside my bed writing this. Got lots more to write but shall do it on another day. It's 12.08 am at the moment. Gonna be watching Avenegers: End Game on the 1st May 2019