Fiat in five years will become an unpopular mean of payment. Its use will become the prerogative of criminals. This was announced by venture investor and famous cryptocurrency enthusiast Tim Draper, BTC-Wires reports.
He noted that every year the cryptocurrency will become a more convenient tool for payments and investments, due to the high speed of transactions and low commissions.
The criminals will still want to operate with cash, because they catch everybody who is trying to use Bitcoin. They’re all going to interrelate … and there will be exchange rates for all of them. My guess is that it will centralize around a wallet that you have, and when you pay for that Starbucks, your wallet will optimize to whichever currency has most value. In five years, if you try to use fiat currency, they will laugh at you. Bitcoin and other cryptocurrencies will be so relevant … there will be no reason to have the fiat currencies.
Commenting on the launch of JPM Coin, Draper said that “not all bitcoin branches work for the good of the industry, but they are increasing interest in Bitcoin as a whole”.