How Close Are We to Hyperbitcoinization – Total Bitcoin Dominance?
[NEWS BLOG]: How Close Are We to Hyperbitcoinization – Total Bitcoin Dominance?
Experts believe that bitcoin still has a long way to go before it gains mainstream global acceptance – but believe that the token could become a global mainstay, and even eclipse the dollar by 2030.
Industry insiders call the phenomenon “hyperbitcoinization” – the widespread, global adoption of Bitcoin that will see it eventually surpass conventional fiats like the dollar, the euro or the yen.
But what do experts mean when they talk about hyperbitcoinization – and can industry players do anything to help speed it up?
What is Hyperbitcoinization?
Hyperbitcoinization is not just a matter of bitcoin becoming more popular. It actually refers to a scenario whereby the token becomes the world’s most dominant currency.
For that to occur, fiat currencies would need to devalue against digital alternatives, effectively pushing people to adopt and use Bitcoin instead.
The theory goes that the world’s leading fiat currencies would suffer hyperinflation and subsequent demonetization.
And if that were to happen, the mass adoption of bitcoin would provide the only viable alternative for individuals and companies the world over.
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Fábrica de Explosivos Moçambique (FEM), a Mozambican explosives manufacturing company, told CNN that they were the ones who originally ordered the ammonium nitrate that was left at Beirut's port for nearly seven years.
The order of ammonium nitrate was intended for manufacturing explosives for mining companies in Mozambique, the spokesperson said.
"We can confirm that yes, we did order it," a spokesperson for FEM told CNN.
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Biggest Crypto Price Movements of 2019 - FOR XRP
The start of 2020 is a great time to look at the path travelled by cryptocurrencies up and down the price charts and analyze how these coins have been performing throughout the previous year. The prices of most cryptocurrencies changed tremendously throughout 2019, as the year started off slow but then saw most cryptocurrencies jump in value over the first six months.
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