It's a tricky concept... I think I agree that it's a sustainable currency. So I'm past the confidence hold up. But I've still got 2 hold ups:
1. It's valuated in the US$. Which shows the US$ is the standard bearer still. As you said, it's tough to say (with any type of confidence) that will change anytime soon. This hold up is relatively small for me compared to the next one.
2. Crypto has a technological element to it as well. And because of that is susceptible to the "next big thing" as far as valuation goes. Look at almost any industry and you see huge shifts in the companies that dominate based on technology and manage Retail went from homemade, local mom/pop general stores, magazine retailers, K-Mart/Wal-Mart, Amazon.
It looks like is already happening with Bitcoin and Ether. What's next? What's the life expectancy of crypto technology?
On the flip-side, there have been significant changes with fiscal, monetary, and financial "tools" within the fiat world over the past 50-60 years as well (from deficit spending, national debt forgiveness, taxation games, helicopter money, glass-steagall, fractional reserves, CDO, pension-type assumptions, central lending rate manipulation, etc., etc....). A big assumption is that the way crypto works now would limit many (all?) of those "tools." Could that change?
