[Cryptocurrency] preliminary analysis of the impacts over current economy

Open points:

1. Until there is a clear credit system based on cryptocurrency it is too early to talk about mass adoption.

2. By using cryptos, there can be a disruptive delta between value and currency. Until now, since 1971, the two concepts have been moving on together. It is likely that the new value is the personal data carried along by each entity (NOT individual) having a wallet. This point is complex, needs further study.

3. The tokens, whether they are bitcoins, ethereum, or other types of information conveyed by means of fancy coin-creations, are essentially information, pure and simple information. The information has value only if there is demand for that. This means that the fact that bitcoin has value because you need to spend money for electric power, is completely misleading. It is like looking at a new technology with the old conception of value.

4. There might be, in the long run, a disruptive phenomenon in the business cycles, both long and short duration. But the human nature underlying the business cycles is always the same. Consequences? I do not know yet.


All in all, cryptos might trigger a disruptive change, but it is too early now to draw conclusions. For sure, the following principles stand:

1) Law of supply and demand
2) human nature and its impact on business cycles
3) need of people of trading, keeping transactions costs close to zero, in the most reliable environment, no matter what the government might be.

Bitcoin goes into the direction of globalization, removing intermediaries like internet did, but on a very higher scale.