As crypto gets popular year by year, do you think there is a chance in the near future that it will overtake traditional financial systems? Or do you think the two will just continue to co-exist?
As the world is progressing in everything, that can be also possible, even know many people all around use crypto instead of money.
Crypto has most definitely become popular year by year, but I doubt it will overtake traditional financial systems. Reason being governments hate irrelevance and would not let go of their currencies any time soon. However, I see crypto becoming more mainstream and will co-exist side by side with traditional financial systems
@hildaw Yeah, I also think that this scenario is more likely to happen. I can't really imagine cryptocurrencies overtaking traditional financial systems because I think it not everyone is going to hop on the idea, I can't imagine using bitcoins to buy food in our local markets 🤣 🤣
With the modernization of the world and the continuous changes I think yes. Especially with most payment options and transactions now becoming more and more digital it could very much take over tradition financial systems.
Nope it will never. At least not anytime soon, or maybe as an alternative form of currency. The assets are generally volatile and not many people are open to using them. Anyway time will tell
@hildaw Totally agree, i too don't see it overtaking, merely coexisting like you said.
@tituskrit In addition a lot of people hate change especially the older they are for some reason from my experience that alone is going to hinder a lot of people from switching. Probably with time.
@ishtar exactly...not mentioning the security issue. I would have bet on crypto going mainstream in 2020 during the COVID era due to increased use of epayments and the bitcoin halving. It now looks bleak say for the Trump endorsement
While cryptocurrencies are gaining popularity they can't match the convenience of traditional currencies
I mean there are people who would not want that happen, as it might not be in their best interests. But, if it is unifying payments all across globe and has minimum problems during transactions; then people will themselves accept it as their daily usage.
Crypto taking over completely? Never, but I think it'll just keep shaking things up while co-existing with traditional financial systems.
Nah - the financial institutions are embracing it nowadays but to them it's just another asset.
I always thought that perhaps we would see widespread adoption of BTC when traditional markets go awry but if anything, it follows the same patterns as riskier stocks...
Crypto is growing at a higher rate but i believe the two will just coexist.
