How Close Are We to Hyperbitcoinization – Total Bitcoin Dominance?

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[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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Analyst Who Called XRP’s Drop to $0.16 Is Still Expecting Upside: Here’s Why

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In the wake of this surge, trader Credible Crypto said that before a further rally, he expects the asset to retrace to ~$0.168, as it has today, before continuing to trend higher in a wave-like fashion to $0.20 and beyond.

With XRP having retraced - read more.

What is XRP ?

XRP is a token used for representing the transfer of value across the Ripple Network. The main purpose of XRP is to be a mediator for other - both cryptocurrencies and fiat - exchanges. The best way to describe XRP is a ‘Joker’. Not the creepy Batman enemy, but the card that can be any other card. If you want to exchange dollars to euro, it can be dollar with dollars and euro with euros to minimize the commission. As highlighted above, the transaction cost on Ripple is $0.00001.

An interesting fact: after the transaction the amount of $0.00001 ‘disappears’ - read more.

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