Bitcoin and other cryptocurrencies are built on decentralized networks. This makes them nearly impossible to destroy, as long as the software remains running on a small batch of computers. There are systemic risks including a total armageddon scenario where the global internet shuts down completely. The big factor determining a crypto asset’s strength lies in its user base. Unpopular cryptos fade into obscurity as newer and shinier applications steal their adopters. MySpace is still a site even though it has lost its relevance as a global social network. But that popularity doesn’t necessarily need to come from people. Imagine a world completely taken over by interconnected devices. Most call this the internet of things. Introduce artificial intelligence that runs on one of these decentralized networks and one can start to imagine how machines might one day eclipse us. The more pervasive the crypto becomes the more unstoppable it becomes. Not even governments can call for a complete “shut down” of these protocols. Food for thought.
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