Blackany reduce the cost of creating digital assets, storage and transmission, they create the conditions for the emergence of “soft values” in any of its manifestations. Though the money and are an important area of application of the block chain is not the only possibility of the use of technology. Money in the form similar to Bitcoin will likely be the most powerful and *primary* means of accumulation in the universe of programmable values, and therefore a large number of currently existing cryptocurrencies are competing for the leadership in this direction. However, this status does not imply the conversion of all value in the world, or even much of it.
Take, for example, assessment of various global assets:
- Gold: 7.7 trillion. $ .
- Stock market: 73 trillion. $ .
- Money in their broadest sense: 90 trillion. $ .
- Debt obligations: 215 trillion. $ .
- Property: 217 trillion. $ .
- Derivatives (low segment): 544 trillion. $ .
The total 1 quadrillion dollars world values, and money, in the broadest sense of the word, are less than 10%. Blackany already created a new class of crypto-assets, the leader of which is BTC. They will change the markets around existing asset classes and will give rise to hybrid assets that will be the answer to the problems of principal-agent, for centuries hindered the development of social organization. So even though I agree that crypto-money will surely become the largest and the main means of accumulation, a statement that they will *only* a means of accumulation contradicts our empirical experience in today’s traditional world and the future of crypto world.
PostScript: owing to the development of programmable values in the crypto space, despite the appreciation of BTC, its dominance will continue to decline with each new market cycle. It makes no sense to ignore the data we already have indications of this development trend for over 5 years.
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