[jmg]

Originally Posted by IllSic_Design

You need the coins/tokens to run these blockchains( most, not all). Most blockchains have a crypto because it is a core function/part of the blockchain, which enables blockchains to do what they do. Without them you wouldn't be able to transact on the ledgers/blockchain, or validate that block/transaction/etc, vote on network/ledger/blockchain changes and more..

If you are equating crypto to cryptocurrency then that is not how I understand it. I believe you have it backwards.

The core function/part of blockchain is the distributed/decentralized ledger. Cryptocurrency is merely one thing that blockchain can keep record of. You can track contracts, parts, policies, inventory, goods... and currency among many other things. That's why it's so useful. You don't need cryptocurrency to run these blockchains, you need blockchains to track cryptocurrency.

Originally Posted by IllSic_Design

I get/understand that crypto isn't being used for currency, that's actually what I stated in my first post, and it makes no sense to try to use most as a currency.

For the cross border remittances, bank to bank settlements,etc, it is actually LESS risky as has been proven using XRP and Ripples infrastructure. Payments/remittances using XRP/Ripple products are settled in SECONDS. You know most real time payments done right now for banking and financial transactions are NOT in real time, they are basically IOU's, takes days to a week to actually settle, and ties up A LOT of the banks money in NOSTRO VOSTRO accounts. Digital Ledgers/blockchain allows banks to not have to have huge cash reserves for their every day banking practices.

I understand and agree with most of this. I think this is what I am failing to communicate properly. I'm not skeptical of the idea of currency managed by blockchain, I'm skeptical of currency who's value is largely set by speculation like bitcoin. There is a reason government regulated fiat is more stable and more desirable. Inflation is predictable and even controlled. The value fluctuations due to the economy. It's much more difficult to pump and dump or manipulate fiat due to oversight from the government. But let me be clear, that doesn't mean cryptocurrency will forever be useless outside of speculation.

Originally Posted by IllSic_Design

But that is not to say that the crypto market/industry/technology will not amount to anything in the future.

I never said it wasn't going to amount to anything in the future. You are grouping me with the original poster you were replying to. I wasn't replying to your post because I agree with who you were replying to. I was adding to the conversation. Yes, I agree, in the future there might be a solution that involves cryptocurrency. But right now, I'm skeptical of its value because it is so volatile. I'm sure we will find a way to use it as currency eventually... and not to open a can of worms, but I truly believe that the only way cryptocurrency can be viable is by eliminating fiat entirely. Like I stated earlier, conversion from crypto to fiat post transaction is necessary because of local reliance on local currency and the relative stability they have. Who is going to hold on to $55k in bitcoin when it's going to dip to $35k in a few weeks?! Business risk their profit margins if they only deal in cryptocurrency. Herein lies a paradox: I don't think fiat money is going anywhere soon, and I don't think cryptocurrency will evolve unless they do. Eventually, even speculation will end end of fiat becomes hazier. It will take a world level event to get rid of fiat. Almost something like the Euro. One only has to study the Euro to see how complicated that will be.