Cryptocurrency: Virtual money, real power, and the fight for a small town’s future
I’ve read a lot from maximalists who think Bitcoin will, over time, consume value from other currencies due to [Network effect](https://en.wikipedia.org/wiki/Network_effect), [hardness](https://en.wikipedia.org/wiki/Hard_currency), etc.
While these views all make sense to me and I do agree with them, I have a couple questions.
First, if hardness is such an important factor in the value of a money why aren’t we using gold as our money now? (Is the answer that there are other limiting factors, for example gold isn’t sufficiently divisible, transportable, etc?)
Second, how do we know how much value Bitcoin will consume over time from existing currencies, will it be 99% of the value, 80% such as with a [Pareto distribution](https://en.wikipedia.org/wiki/Pareto_distribution) or less, such as with the current value of the US dollar?
What both of these questions are trying to get at is there seems to be many factors which influence the long term value of Bitcoin but how do we know which are the most important over time?
**Vitalik Buterin, CEO Ethereum told Bloomberg in his** [interview](https://www.bloomberg.com/news/articles/2018-09-08/crypto-growth-nears-ceiling-ethereum-co-founder-buterin-says)**recently that altcoins won’t grow 2–3 times again as we saw that in the year 2017.**
>If you talk to the average educated person at this point, they probably have heard of blockchain at least once. There isn’t an opportunity for yet another 1,000-times growth in anything in the space anymore.
From my point of view, **it’s better to focus on short-term trading right** **now**. Pay attention to yesterday’s Ethereum interest rate chart, the price has grown from $182 to $204. It’s very unstable now, and traders can benefit from this.
**Moreover, it becomes even simplier with Forex where you can “go short” and earn money when the interest rate is falling.**
Crypto exchange doesn’t allow such feature due to the difficulties of its system (different crypto wallets, deposit and withdrawal issues etc).
At the same time, Forex solved this issue dozens of years ago, and it’s very convenient to trade there now.
Some well-known and reliable [Forex brokers allow trading crypto](https://justforex.com/?c=fd58bf) on their accounts. For instance, it has a huge variety of trading crypto instruments with leverages up to 1:3. JustForex broker provides customers to practice trading on [Demo Account](https://justforex.com/education/practice-account-opening/?c=fd58bf) free of charge.
**Guys, has any of you practiced crypto trading on Forex? what are the pros and cons?**
“Ethereum…can employ the decentralized architecture that can protect and authenticate data and “address the evils of the Google Age: porous Internet security, unmoored money, regulatory overreach, network concentration, officious delays, and diminishing returns of big data.” [The National Review]